Fresh2 Group Limited American Depositary Shares - FRES STOCK NEWS

Fresh2 Group (NASDAQ: FRES), a B2B e-commerce and supply chain management company in the restaurant and food industry, has announced a significant expansion of its video e-commerce business. The company has partnered with over 50 influencers, leading to rapid sales growth and increased market presence in the e-commerce sector.

Fresh2's video e-commerce strategy leverages multimedia formats to enhance product appeal and build consumer trust through real-time interaction. The company's product range currently includes food, daily necessities, and electronics. Fresh2 plans to further expand its influencer collaborations and diversify its product offerings to explore new market opportunities.

Fresh2 Group (NASDAQ: FRES), a B2B e-commerce and supply chain management company in the restaurant and food industry, announced a 1-for-10 reverse ADS split for its American depositary shares (ADSs). Effective July 10, 2024, the ADS-to-Class A share ratio changes from 1:20 to 1:200, equivalent to a one-for-ten reverse ADS split. Holders of certificated ADSs must surrender their certificates to Citibank for new ADSs, while those with uncertificated ADSs will automatically have their shares exchanged. Post-split, Fresh2's ADSs will continue trading under the ticker 'FRES.' No fractional ADSs will be issued; instead, fractional entitlements will be sold, and proceeds distributed to holders. The ADS price is expected to rise proportionally, though no guarantees are made.

Fresh2 Group (NASDAQ: FRES), a B2B e-commerce and supply chain management company in the restaurant and food industry, announced plans to change the ratio of its American depositary shares (ADSs) to its Class A ordinary shares. Effective July 10, 2024, the new ratio will be one ADS representing 200 Class A shares, compared to the previous one ADS for 20 Class A shares. This change equates to a one-for-ten reverse ADS split. ADS holders will automatically receive one new ADS for every ten existing ADSs. The trading symbol 'FRES' will remain unchanged. No fractional ADSs will be issued; instead, cash proceeds from the sale of fractional entitlements will be distributed to ADS holders. The ADS price is expected to increase proportionally following the ratio change.

Fresh2 Group (NASDAQ: FRES), a B2B e-commerce and supply chain management company in the restaurant and food industry, announced on May 23, 2024, that it received a delinquency compliance alert from Nasdaq. The alert is due to the company's failure to timely file its Form 10-Q for the period ended March 31, 2024, and its Form 10-K for the fiscal year ended December 31, 2023, with the SEC. Nasdaq has given Fresh2 60 days to submit a compliance plan, with a deadline of June 17, 2024, for the company to outline how it will meet the requirements. If the plan is accepted, Fresh2 may receive an extension until October 14, 2024. If not, the company can appeal this decision to a Hearings Panel.

Fresh2 Group Ltd. (NASDAQ: FRES) announced the launch of its video e-commerce venture on TikTok, aiming to revolutionize consumer connections with food sources. The company plans to introduce live food e-commerce, providing transparency and trust in every purchase.

Fresh2 Group Ltd. received a deficiency notice from Nasdaq due to failure to comply with the $1 minimum bid price required for continued listing. The company has 180 calendar days to regain compliance, with the possibility of an additional 180-day compliance period if needed.

Fresh2 Group Ltd. (NASDAQ: FRES) announced the acquisition of Youfood Group Inc., a cross-border e-commerce food platform, to expand its customer base. The acquisition involves the exchange of 38,333,334 newly issued shares of Fresh2 Class A common stock for 100% of Youfood's outstanding shares. CEO Haohan Xu emphasizes the company's commitment to sustainable development and bringing high-quality food products to North American consumers.

Fresh2 Group Ltd. (NASDAQ: FRES) appoints Zhijun (Michael) Liang as an independent director, effective January 1, 2024. Mr. Liang brings over two decades of experience in management consulting and investment management, with a focus on start-ups and growth businesses. He holds an MBA degree in general management and a Bachelor of Arts degree in English Language and Literature. The Board has determined that Mr. Liang is independent within the meaning of Nasdaq Listing Rule 5605(a)(2).

Fresh2 Group Ltd. (NASDAQ: FRES) announces the strategic plan to launch Roxe Restaurant Robots, revolutionizing kitchen operations with cutting-edge, robot-assisted cooking technology. The integration with its pre-fabricated meal supply chain operation aims to redefine the industry landscape.