EZGO Regained Compliance with Nasdaq's Minimum Bid Price Requirement

Rhea-AI Summary

EZGO Technologies Ltd announced on January 25, 2023, that it has regained compliance with Nasdaq's minimum bid price requirement under Listing Rule 5550(a)(2). This confirmation was received in a notification letter from Nasdaq on January 23, 2023. The Company has established a strong business model focused on manufacturing and selling electric vehicles and batteries, under three brands: EZGO, Dilang, and Cenbird. With a commitment to leveraging an IoT platform, EZGO aims to serve both domestic and international markets.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement, which may enhance investor confidence.
• Strong business model centered on electric vehicles and IoT solutions.

Negative

• None.

CHANGZHOU, China, Jan. 25, 2023 /PRNewswire/ -- EZGO Technologies Ltd (Nasdaq: EZGO) ("EZGO" or the "Company"), announced today that, on January 23, 2023, it has received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") confirming the Company has regained compliance with Nasdaq's minimum bid price requirement under Listing Rule 5550(a)(2). Nasdaq noted this matter is now closed.

About EZGO Technologies Ltd.

Leveraging an Internet of Things (IoT) product and service platform and three e-bicycle brands, "EZGO", "Dilang" and "Cenbird", EZGO has established a business model centered on the manufacturing and sale of two- and three-wheeled electric vehicles, lithium batteries, complemented by the e-bicycle charging pile business. For additional information, please visit EZGO's website at www.ezgotech.com.cn. Investors can visit the "Investor Relations" section of EZGO's website at www.ezgotech.com.cn/Investor.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the short-distance transportation solutions market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission ("SEC"), including the Company's most recently filed Annual Report on Form 20-F and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

 

 

 

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SOURCE EZGO Technologies Ltd.

FAQ

What does EZGO Technologies Ltd's compliance with Nasdaq mean for investors?

EZGO's regained compliance with Nasdaq indicates improved stock performance and may restore investor confidence.

When did EZGO regain its compliance with Nasdaq's minimum bid price requirement?

EZGO regained compliance on January 23, 2023.

What business model does EZGO Technologies Ltd follow?

EZGO focuses on manufacturing and selling electric vehicles, batteries, and charging solutions, leveraging IoT technology.

What brands does EZGO Technologies Ltd operate under?

EZGO operates under three brands: EZGO, Dilang, and Cenbird.