Welcome to our dedicated page for 9F American Depositary Shares news (Ticker: JFU), a resource for investors and traders seeking the latest updates and insights on 9F American Depositary Shares stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect 9F American Depositary Shares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of 9F American Depositary Shares's position in the market.
9F Inc. (NASDAQ: JFU) announced a change in the ratio of its American depositary shares (ADSs) from one ADS to one Class A ordinary share to one ADS for every twenty Class A ordinary shares. This reverse ADS split is effective around January 18, 2023, pending regulatory approval. Existing ADS holders will have their shares automatically exchanged without action required. No new Class A shares will be issued, and there will be no fractional new ADSs. Proceeds from fractional entitlements will be distributed to ADS holders.
9F Inc. (NASDAQ: JFU) received a notification from Nasdaq on August 12, 2022, indicating that its American depositary shares (ADSs) have been trading below the minimum bid price of US$1.00 for the last 30 consecutive business days. The Company has a grace period until February 8, 2023, to meet this requirement. If the ADS price meets or exceeds US$1.00 for 10 consecutive business days, the issue will be resolved. The notification does not currently affect the trading of JFU shares, and the Company plans to take measures to comply within the grace period.
9F Inc. (NASDAQ: JFU) is transitioning from a financial technology provider to a digital and blockchain-based securities brokerage platform. This strategic shift aims to focus on equity securities and digital asset technology services, leveraging its existing licensed brokerage and advanced technologies. CEO Lei Liu emphasized the need to adapt to economic challenges by fostering a global investment platform that connects users with U.S. and Hong Kong markets. The company targets young investors and plans to enhance services through licenses in Singapore and the U.S., emphasizing growth in digital assets.
9F Inc. (NASDAQ: JFU) announced an extraordinary general meeting (EGM) on July 8, 2021, in Hong Kong to consider a name change to Ether Securities, Inc. This change is not expected to impact shareholder rights or the company’s operations. The record date for shareholders entitled to vote is fixed at June 3, 2021. 9F focuses on fintech, wealth management for mid- and high-net-worth clients, and online stock investment services in Hong Kong. As of December 31, 2020, the company had 113 million registered users and holds several licenses in Hong Kong.
Rosen Law Firm has initiated an investigation into 9F Inc. (NASDAQ: JFU) for potential securities claims due to allegations of misleading business information disseminated to investors. Following its IPO on August 15, 2019, where it raised approximately $85 million selling 8.9 million American Depositary Shares (ADSs) at $9.50 each, the value of JFU’s ADSs has significantly plummeted to $1.26 by December 15, 2020. The firm is preparing a securities lawsuit for shareholders affected by this decline.
9F Inc. (JFU) reported a significant 81.2% reduction in adjusted net loss sequentially, reaching RMB454.3 million (US$64.3 million) for the first half of 2020. Loan origination volume plunged by 90.4% to RMB3.4 billion (US$484.6 million), while net revenues fell by 61.0% to RMB848.4 million (US$120.1 million). The number of active borrowers decreased by 84.4% to 0.4 million, impacting business growth. Despite challenges from COVID-19 and regulatory changes, the company holds RMB3.7 billion (US$521.6 million) in cash, potentially sufficient for operational needs.
9F Inc. (JFU) reported its financial results for the first half of 2020, revealing a 61% decrease in total net revenues to RMB848.4 million (US$120.1 million) compared to the second half of 2019. Loan origination volume plunged by 90.4% to RMB3.4 billion (US$484.6 million), driven by the impact of COVID-19. While the adjusted net loss decreased by 73.9% year-on-year to RMB454.3 million (US$64.3 million), the company aims to adjust its business strategies in response to regulatory challenges and potential long-term impacts of the pandemic.
9F Inc. (Nasdaq: JFU) filed its annual report on Form 20-F for the fiscal year ending December 31, 2019, with the SEC on June 24, 2020. The report is available on its investor relations website and the SEC's site. The company positions itself as a leading digital financial account platform in China, offering integrated financial services including loans, online wealth management, and payment facilitation.
9F Inc. (Nasdaq: JFU) reported its unaudited financial results for Q4 and the full year of 2019. Loan origination surged by 62.4% year-over-year to RMB14.3 billion, with institutional partners funding 79.8% of this volume. Active borrowers increased by 80.2% to 1.0 million. However, total net revenues plummeted by 54.4% to RMB469.0 million, and the company faced a net loss of RMB2,863.1 million. For 2020, 9F anticipates loan origination volumes between RMB1.0 billion and RMB1.2 billion due to challenges posed by the COVID-19 pandemic and regulatory uncertainties.
9F Inc. (NASDAQ: JFU) will disclose its unaudited financial results for Q4 and full-year 2019 on June 17, 2020, prior to U.S. market opening. The company, based in Beijing, is known for its comprehensive digital financial account platform that integrates various services including loans, online wealth management, and payment facilitation. The announcement indicates a timely financial reporting schedule, reflecting the company's ongoing commitment to transparency and investor engagement.
FAQ
What is the current stock price of 9F American Depositary Shares (JFU)?
What is the market cap of 9F American Depositary Shares (JFU)?
