Jianzhi Education Technology Receives Nasdaq Notification Regarding Minimum Market Value Deficiency
Jianzhi Education Technology Group Company (NASDAQ: JZ), a leading digital educational content provider in China, has received a notification from Nasdaq regarding non-compliance with the minimum market value requirement. The company's market value of publicly held shares fell below the required $5 million threshold for 30 consecutive business days from June 12 to July 26, 2024.
Jianzhi has been given until January 22, 2025, to regain compliance by maintaining a market value above $5 million for at least 10 consecutive business days. If unsuccessful, the company may face delisting but can appeal or consider transferring to the Nasdaq Capital Market. The notification does not immediately affect Jianzhi's listing or business operations.
La Jianzhi Education Technology Group Company (NASDAQ: JZ), un importante fornitore di contenuti educativi digitali in Cina, ha ricevuto una notifica dal Nasdaq riguardante la non conformità al requisito del valore di mercato minimo. Il valore di mercato delle azioni pubblicamente detenute della compagnia è sceso sotto la soglia richiesta di $5 milioni per 30 giorni lavorativi consecutivi dal 12 giugno al 26 luglio 2024.
Jianzhi ha tempo fino al 22 gennaio 2025 per ripristinare la conformità mantenendo un valore di mercato superiore a $5 milioni per almeno 10 giorni lavorativi consecutivi. In caso contrario, la società potrebbe affrontare la delisting, ma ha la possibilità di fare appello o considerare un trasferimento al Nasdaq Capital Market. La notifica non influisce immediatamente sulla quotazione o sulle operazioni commerciali di Jianzhi.
La Jianzhi Education Technology Group Company (NASDAQ: JZ), un proveedor líder de contenido educativo digital en China, ha recibido una notificación de Nasdaq sobre el incumplimiento del requisito de valor de mercado mínimo. El valor de mercado de las acciones en circulación de la empresa cayó por debajo del umbral requerido de $5 millones durante 30 días hábiles consecutivos desde el 12 de junio hasta el 26 de julio de 2024.
A Jianzhi se le ha dado plazo hasta el 22 de enero de 2025 para volver a cumplir, manteniendo un valor de mercado superior a $5 millones durante al menos 10 días hábiles consecutivos. Si no tiene éxito, la empresa podría enfrentar la deslistación, pero puede apelar o considerar una transferencia al Nasdaq Capital Market. La notificación no afecta inmediatamente la cotización o las operaciones comerciales de Jianzhi.
Jianzhi Education Technology Group Company (NASDAQ: JZ)는 중국의 주요 디지털 교육 콘텐츠 제공업체로, Nasdaq으로부터 최소 시장 가치 요건 미준수에 대한 통지를 받았습니다. 회사의 공개 주식 시장 가치는 2024년 6월 12일부터 7월 26일까지 30영업일 연속으로 요구되는 500만 달러 기준 이하로 떨어졌습니다.
Jianzhi는 2025년 1월 22일까지 10영업일 이상 시장 가치를 500만 달러 이상으로 유지하여 준수를 회복해야 합니다. 실패할 경우, 회사는 상장 폐지에 직면할 수 있지만, 항소하거나 Nasdaq Capital Market으로 이전할 가능성도 있습니다. 이 통지는 Jianzhi의 상장이나 사업 운영에 즉각적인 영향을 미치지 않습니다.
La Jianzhi Education Technology Group Company (NASDAQ: JZ), un fournisseur majeur de contenu éducatif numérique en Chine, a reçu une notification du Nasdaq concernant le non-respect de l'exigence de valeur minimale de marché. La valeur de marché des actions détenues par le public de l'entreprise est tombée en dessous du seuil requis de 5 millions de dollars pendant 30 jours ouvrables consécutifs, du 12 juin au 26 juillet 2024.
Jianzhi a jusqu'au 22 janvier 2025 pour retrouver la conformité en maintenant une valeur de marché supérieure à 5 millions de dollars pendant au moins 10 jours ouvrables consécutifs. En cas d'échec, l'entreprise pourrait faire face à un retrait de la cote, mais peut faire appel ou envisager un transfert vers le Nasdaq Capital Market. La notification n'a pas d'impact immédiat sur la cotation ou les opérations commerciales de Jianzhi.
Die Jianzhi Education Technology Group Company (NASDAQ: JZ), ein führender Anbieter von digitalen Bildungsinhalten in China, hat eine Mitteilung von Nasdaq erhalten, die auf die Nichteinhaltung der erforderlichen Mindestmarktbewertung hinweist. Der Marktwert der im Umlauf befindlichen Aktien des Unternehmens fiel über einen Zeitraum von 30 aufeinander folgenden Geschäftstagen vom 12. Juni bis 26. Juli 2024 unter die erforderliche 5 Millionen Dollar-Schwelle.
Jianzhi hat bis zum 22. Januar 2025 Zeit, die Einhaltung wiederherzustellen, indem es einen Marktwert von über 5 Millionen Dollar für mindestens 10 aufeinanderfolgende Geschäftstage aufrechterhält. Bei Nichterfolg könnte das Unternehmen mit einer Delistung konfrontiert werden, hat jedoch die Möglichkeit, Berufung einzulegen oder einen Übertritt zum Nasdaq Capital Market zu erwägen. Die Mitteilung hat keinen sofortigen Einfluss auf die Listung oder die Geschäftstätigkeiten von Jianzhi.
- None.
- Market value of publicly held shares fell below $5 million
- Risk of potential delisting from Nasdaq Global Select Market
- 180-day compliance period may lead to uncertainty for investors
Insights
Jianzhi Education Technology's receipt of a Nasdaq notification regarding minimum market value deficiency is a significant red flag for investors. The company's market value of publicly held shares has fallen below the critical
The 180-day compliance period until January 22, 2025, provides a lifeline, but achieving a sustained market value above
While the company asserts that business operations remain unaffected, this financial predicament could impact Jianzhi's ability to raise capital, attract partnerships, or maintain customer confidence. Investors should closely monitor the company's strategic moves in the coming months, particularly any efforts to boost market value through operational improvements or corporate actions.
The notification Jianzhi Education Technology received reflects broader challenges in China's educational technology sector. Following regulatory crackdowns on private tutoring in 2021, many edtech companies have struggled to maintain investor confidence and market valuations. Jianzhi's situation is not unique but indicative of the sector's ongoing turbulence.
Key factors to watch include:
- Potential shifts in Jianzhi's business model to align with new regulatory landscapes
- Innovations in digital educational content that could differentiate the company
- Expansion into new markets or educational segments to diversify revenue streams
The company's ability to navigate these challenges while simultaneously addressing its market value deficiency will be crucial. Investors should also consider the broader implications for U.S.-listed Chinese companies, as increased scrutiny and regulatory pressures from both Chinese and U.S. authorities continue to shape market dynamics.
The Nasdaq notification to Jianzhi Education Technology highlights the legal and regulatory risks associated with maintaining a U.S. listing for foreign companies, particularly those from China. This situation underscores the importance of compliance with listing requirements and the potential consequences of failing to meet them.
Key legal considerations include:
- The company's disclosure obligations to shareholders regarding this material event
- Potential shareholder litigation risks if the company fails to regain compliance or is delisted
- Regulatory scrutiny from both U.S. and Chinese authorities, given the sensitive nature of the education sector in China
Jianzhi's management must navigate these legal challenges carefully. The option to appeal to a Hearing's Panel or transfer to the Nasdaq Capital Market each comes with its own set of legal implications and disclosure requirements. Investors should be aware that while the company has time to address the issue, the legal landscape surrounding U.S.-listed Chinese companies remains complex and evolving.
BEIJING, July 31, 2024 (GLOBE NEWSWIRE) -- Jianzhi Education Technology Group Company Limited (the “Company” or “Jianzhi”) (NASDAQ: JZ), a leading provider of digital educational content in China, today announced it has received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) Listing Qualifications Department on July 26, 2024, notifying the Company is not in compliance with the minimum market value requirement set forth in Nasdaq Listing Rules for continued listing on the Nasdaq Global Select Market. Nasdaq Listing Rule 5450(b)(1)(C) requires companies to maintain a minimum market value of publicly held shares of at least US
The Notification Letter does not impact the Company’s listing on The Nasdaq Global Select Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has been provided 180 calendar days, or until January 22, 2025, to regain compliance with Nasdaq Listing Rule 5450(b)(1)(C). To regain compliance, the Company’s market value of publicly held shares must exceed US
In the event that the Company does not regain compliance by January 22, 2025, the Company will receive written notification that its American depositary shares representing ordinary shares (“ADSs”) are subject to delisting and the Company may appeal the delisting determination to a Hearing’s Panel. Alternatively, the Company may consider applying to transfer the ADSs to The Nasdaq Capital Market.
The Company’s business operations are not affected by the receipt of the Notification Letter.
About Jianzhi Education Technology Group Company Limited
Headquartered in Beijing and established in 2011, Jianzhi is a leading provider of digital educational content in China and has been committed to developing educational content to fulfill the massive demand for high-quality, professional development training resources in China. Jianzhi started operations by providing educational content products and IT services to higher education institutions. Jianzhi also provides products to individual customers. Leveraging its strong capabilities in developing proprietary professional development training content and success in consolidating educational content resources within the industry, Jianzhi has successfully built up a comprehensive, multi-dimensional digital educational content database which offers a wide range of professional development products. Jianzhi embeds proprietary digital education content into the self-developed online learning platforms, which are provided to a wide range of customers through its omni-channel sales system. Jianzhi is also fully committed to the digitalization and informatization of the education sector in China. For more information, please visit: www.jianzhi-jiaoyu.com.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Janice Wang
WFS Investor Relations
Phone: +86 13811768559
+1 628 283 9214
Email: services@wealthfsllc.com
FAQ
What is the minimum market value requirement Jianzhi Education (JZ) failed to meet?
When does Jianzhi Education (JZ) need to regain compliance with Nasdaq's market value requirement?
What options does Jianzhi Education (JZ) have if it fails to regain compliance by the deadline?
How can Jianzhi Education (JZ) regain compliance with Nasdaq's market value requirement?
