Kuke Music Regains Compliance with NYSE Continued Listing Criterion

Rhea-AI Summary

Kuke Music Holding Limited (NYSE: KUKE) announced on April 3, 2023 that it has regained compliance with the New York Stock Exchange (NYSE) continued listing requirement. The letter from the NYSE, dated March 28, 2023, confirms that Kuke met the minimum average share price of $1.00 over a consecutive 30 trading-day period. This compliance is crucial for maintaining the company's listing status. Kuke, a leading classical music service platform in China, offers approximately 3 million audio and video tracks and provides classical music licensing services to various institutions across the country.

Positive

• Regained compliance with NYSE's listing requirement, improving stock stability.
• Extensive classical music library with approximately 3 million tracks.
• Strong partnerships with over 900 top-tier labels and record companies.

Negative

• None.

BEIJING, April 3, 2023 /PRNewswire/ -- Kuke Music Holding Limited ("Kuke" or the "Company") (NYSE: KUKE), a leading classical music service platform in China with approximately 3 million audio and video music tracks, today announced that the Company has received a letter from the New York Stock Exchange (the "NYSE") dated March 28, 2023, notifying the Company that it has regained compliance with the NYSE's continued listing criterion that requires a minimum average share price of $1.00 over a consecutive 30 trading-day period as set forth in Section 802.01C of the NYSE Listed Company Manual (the "NYSE Continued Listing Criterion").

About Kuke Music Holding Limited (NYSE: KUKE)

Kuke is a leading classical music service platform in China encompassing the entire value chain from content provision to music learning services, with approximately 3 million audio and video music tracks. By collaborating with its strategic global business partner Naxos, the largest independent classical music content provider in the world, the foundation of Kuke's extensive classical music content library is its unparalleled access to more than 900 top-tier labels and record companies. Leveraging its market leadership in international copyrighted classical music content, Kuke provides highly scalable classical music licensing services to various online music platforms, and classical music subscription services to over 800 universities, libraries and other institutions across China. In addition, it has hosted Beijing Music Festival ("BMF"), the most renowned music festival in China, for 24 consecutive years. Through KUKEY, the Company's proprietary smart music learning solutions, Kuke aims to democratize music learning via technological innovation, bring fascinating music content and professional music techniques to more students, and continuously improve the efficiency and penetration of music learning in China. For more information about Kuke, please visit https://ir.kuke.com/

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SOURCE Kuke Music Holding Limited

FAQ

What did Kuke Music announce on April 3, 2023?

Kuke Music announced that it has regained compliance with the NYSE's continued listing criterion.

What is the significance of Kuke's compliance with the NYSE?

Regaining compliance ensures Kuke maintains its listing on the NYSE, which is essential for investor confidence.

What is the minimum average share price requirement for the NYSE?

The NYSE requires a minimum average share price of $1.00 over a consecutive 30 trading-day period.

How many audio and video tracks does Kuke Music provide?

Kuke Music provides approximately 3 million audio and video music tracks.