Jiannan Technology received notice that Nasdaq did not comply with the listing rules and needed to meet the minimum bid price requirement within 180 days
Internet reports that Jiannan Technology received a written notice from the Nasdaq Stock Market on May 13, 2025, which stated that the company did not comply with the requirements of Nasdaq Listing Rules 5550(a)(2) because the closing price of its American Depositary Shares has been less than US$1.00 per share for the past 30 consecutive working days. According to Nasdaq Listing Rules 5810(c)(3)(A), Jianan Technology is allowed to re-meet the minimum bid price requirement within a compliance period of 180 calendar days (i.e., before November 10, 2025), that is, the closing price of its American Depositary Receipts must reach or exceed US$1.00 per share for at least 10 consecutive working days during the compliance period of 180 calendar days. It is reported that Nasdaq's notice letter has no direct impact on the listing or trading of the company's securities on Nasdaq.
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