Golden Sun Education Group Ltd - GSUN STOCK NEWS

Golden Sun Health Technology Group (Nasdaq: GSUN) has announced a strategic joint venture (JV) to enter the cultural tourism market in China. The company, through its subsidiary Shanghai Golden Sun Gongyu Education Technology Co., , has established Shanghai Fuyang Cultural Tourism Development Co., This move marks a significant step in Golden Sun's business transformation, aiming to capitalize on China's growing cultural tourism sector.

The JV will focus on planning, design, consulting, and promotion services for cultural tourism projects and products, as well as the development and management of cultural and tourism resources. Golden Sun will hold a 51% equity interest in the JV, partnering with two individuals who bring extensive experience in designing cultural tourism projects across China.

CEO Xueyuan Weng highlighted the tremendous opportunities in the cultural tourism sector, citing increased interest in traditional culture and government support for national cultural revival. The company aims to establish a comprehensive business model within this sector, leveraging its commercial management expertise and its partners' academic resources and project design experience.

Golden Sun Health Technology Group , a tutorial services provider in China, announced that it has regained compliance with Nasdaq's minimum bid price requirement. The Company maintained a closing bid price of $1.00 per share for ten consecutive trading sessions after a reverse stock-split.

Golden Sun Health Technology Group , formerly known as Golden Sun Education Group , announced a 1-for-10 share consolidation to regain compliance with Nasdaq Listing Rule 5550(a)(2). The consolidation will not alter shareholders' percentage interest and aims to increase the minimum bid price per share.

Golden Sun Health Technology Group (GSUN) faces potential delisting from Nasdaq due to non-compliance with the minimum bid price requirement. The company received a staff determination letter from Nasdaq, notifying them of the impending delisting unless an appeal is requested. GSUN has not met the $1.00 per share bid price requirement and is exploring options like a reverse stock split.

Golden Sun Health Technology Group Limited, known as Golden Sun Education Group Limited (Nasdaq: GSUN), transitions into the wellness industry in China. The company launches Fuding White Tea oral health products and a livestreaming channel to market healthy agricultural products, aiming to promote a healthy lifestyle and target health-conscious consumers.

Golden Sun Education Group Limited (GSUN) plans to hold a press conference to announce its strategic transition into the healthcare and wellness industry in China. The conference is scheduled for January 26, 2024, and will be attended by the company's management team, local government officials, and media representatives.

Golden Sun Education Group received a notification from Nasdaq stating that it is not in compliance with the minimum bid price requirement for continued listing. The company has until March 20, 2024, to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive business days. If the company fails to regain compliance, it may face delisting. The company's business operations are not affected by the notification.

Golden Sun Education Group Limited (GSUN) announced on August 9, 2022, plans to resume in-person tutorial services in Shanghai following the lifting of Covid-19 restrictions. Since March 12, 2022, these services have been suspended. The approval from the Shanghai Municipal Government is expected by the end of August 2022. The company's CEO expressed optimism about the resumption, emphasizing the benefits of in-person interactions for students' learning. Golden Sun plans to enhance its educational offerings as it continues to adapt to the evolving situation.

Golden Sun Education Group Limited (GSUN) reported a 3% decrease in revenues to approximately $7.2 million for the first half of fiscal year 2022, down from $7.4 million in the same period in 2021. Gross profit also dropped by 11% to about $4.0 million, resulting in a gross margin of 55%. Net income plummeted by 75% to roughly $0.4 million. The company had cash of $0.6 million, a 48% decline from the previous period. Despite these results, management remains optimistic about future growth and expansion.