Jianzhi Receives Good News from Nasdaq

Rhea-AI Summary

Jianzhi Education Technology Group (NASDAQ: JZ) has regained compliance with Nasdaq's minimum bid price requirement. The company received confirmation from Nasdaq that its American depositary shares (ADSs) maintained a closing bid price of $1.00 or higher for ten consecutive business days from November 13 through November 26, 2024. This resolves the previous non-compliance notice received on August 7, 2024, which had given Jianzhi until February 3, 2025, to meet the minimum bid price requirement of $1.00 per share.

Positive

• Regained Nasdaq listing compliance, eliminating delisting risk
• Stock price recovery above $1.00 threshold for required period

Negative

• None.

Insights

Financial Analyst

Regaining Nasdaq compliance removes a significant near-term risk for Jianzhi Education, though investors should remain cautious. While avoiding delisting is positive, meeting the minimum bid requirement through price appreciation rather than a reverse stock split suggests some genuine market support. However, with a small market cap of $28.9M, the stock remains vulnerable to volatility.

The quick recovery, achieved well ahead of the February 2025 deadline, demonstrates management's ability to maintain market confidence. Still, Chinese education stocks face ongoing regulatory uncertainties and market skepticism. The focus should now shift to fundamental business execution and growth strategy rather than listing compliance.

BEIJING, Nov. 29, 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 that it has received a written notification letter (the “Compliance Notice”) from the staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) dated November 27, 2024, informing the Company that it has regained compliance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). 

“We take our NASDAQ listing very seriously,” commented Mr. Yong Hu, CEO of the Company. “And we’re happy to be back in the saddle,” he added.

As previously announced, the Company received a notification letter from the Nasdaq dated August 7, 2024, indicating that for the last 30 consecutive business days, the closing bid price for the Company’s American depositary shares (the “ADSs”) was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5550(a)(2). Pursuant to the Nasdaq Listing Rules 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days from such notification, or until February 3, 2025, to regain compliance. If at any time during the 180-day compliance period, the closing bid price of the Company’s ADSs is US$1.00 per share or higher for a minimum of ten consecutive business days, the Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. According to the Compliance Notice, for the last 10 consecutive business days, from November 13 through November 26, 2024, the closing bid price of the Company’s ADSs has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with the Minimum Bid Price Requirement pursuant to Nasdaq Listing Rule 5550(a)(2), and the matter is closed.

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 embed 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 (the “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 Inc.
Phone: +86 13811768559
+1 628 283 9214
Email: services@wealthfsllc.com

FAQ

When did Jianzhi Education (JZ) regain Nasdaq compliance?

Jianzhi Education (JZ) regained Nasdaq compliance on November 27, 2024, after maintaining a closing bid price above $1.00 from November 13 through November 26, 2024.

What was the minimum bid price requirement for Jianzhi (JZ) to maintain Nasdaq listing?

Jianzhi (JZ) needed to maintain a minimum bid price of $1.00 per share for at least 10 consecutive business days to comply with Nasdaq Listing Rule 5550(a)(2).

When did Jianzhi (JZ) receive the initial Nasdaq non-compliance notice?

Jianzhi (JZ) received the initial Nasdaq non-compliance notice on August 7, 2024, after its closing bid price remained below $1.00 for 30 consecutive business days.