TD Holdings, Inc. Granted Extension to Meet Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

TD Holdings, Inc. (Nasdaq: GLG) received a 180-day extension from Nasdaq to comply with the minimum bid price requirement of $1.00 per share, now due by August 29, 2022. This extension follows a prior notification on September 1, 2021, regarding non-compliance. The Company can regain compliance if its shares close at or above $1.00 for 10 consecutive trading days before the deadline. TD Holdings operates in commodities trading and supply chain services in China, focusing on non-ferrous metals and integrated digital supply chain solutions.

Positive

• Received a 180-day extension to meet Nasdaq minimum bid price requirements.
• Can regain compliance by closing above $1.00 for 10 consecutive days.
• Engages in commodity trading and supply chain services in China.

Negative

• Previously notified of non-compliance on September 1, 2021.
• Expiration of prior compliance deadline was on February 28, 2022.

SHENZHEN, China, March 2, 2022 /PRNewswire/ -- TD Holdings, Inc. (Nasdaq: GLG) (the "Company"), a commodities trading service provider in China, today announced that on March 1, 2022, the Company received a written notification from the Nasdaq's Listing Qualifications Department granting another 180 calendar day extension to meet Nasdaq continuing listing requirements by maintaining a minimum bid price per share of $1.00 for a minimum of 10 consecutive trading days. The Company now has until August 29, 2022 to regain compliance.

If at any time before August 29, 2022, the bid price of the Company's ordinary shares closes at or above $1.00 per share for a minimum of 10 consecutive trading days, the Company will regain compliance with the Nasdaq Listing Rules, and the matter will be closed.

The Company was first notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive trading days under Rule 5550(a)(2) and 5810(c)(3)(A) of the Nasdaq Listing Rules on September 1, 2021, and was given until February 28, 2022 to regain compliance.

About TD Holdings, Inc.

TD Holdings, Inc. is a service provider currently engaging in commodity trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal product from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. For more information, please visit http://ir.tdglg.com.

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of TD Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company's operations, the demand for the Company's products and services, global supply chains and economic activity in general. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For more information, please contact:

Ascent Investor Relations LLC
Ms. Tina Xiao
Email: tina.xiao@ascent-ir.com 
Tel: +1 917 609 0333

View original content:https://www.prnewswire.com/news-releases/td-holdings-inc-granted-extension-to-meet-nasdaq-minimum-bid-price-requirement-301494246.html

SOURCE TD Holdings, Inc.

FAQ

What is the Nasdaq compliance status of TD Holdings (GLG)?

TD Holdings received a 180-day extension to meet the minimum bid price requirement, now due by August 29, 2022.

What is the minimum bid price requirement for TD Holdings (GLG)?

The minimum bid price requirement is $1.00 per share for at least 10 consecutive trading days.

When was the previous notification of non-compliance for TD Holdings (GLG)?

The previous non-compliance notification was issued on September 1, 2021.

What is the deadline for TD Holdings (GLG) to regain compliance?

The deadline to regain compliance is August 29, 2022.

What are the business operations of TD Holdings (GLG)?

TD Holdings operates in commodities trading and supply chain services, primarily dealing with non-ferrous metals in China.