Renren Announces Filing of Annual Report on Form 20-F

Rhea-AI Summary

Renren Inc. (NYSE: RENN) announced on July 7, 2020, the filing of its annual report on Form 20-F for the year ending December 31, 2019. The report highlights the company's audited consolidated financial statements and was submitted to the SEC following a notice of non-compliance from NYSE Regulation due to delayed filing. The delay was attributed to the COVID-19 pandemic, necessary internal reviews, and the need for additional time to prepare the report. Investors can access the report on the SEC's website and Renren's investor relations page.

Positive

• Filing of annual report demonstrates compliance efforts.
• Report contains audited consolidated financial statements.

Negative

• Delayed filing led to a notice of non-compliance from NYSE.
• COVID-19 significantly impacted reporting timelines.

BEIJING, July 7, 2020 /PRNewswire/ -- Renren Inc. (NYSE: RENN) ("Renren" or the "Company"), which operates a leading premium used auto business in China through its subsidiary Kaixin Auto Holdings (NASDAQ: KXIN) ("Kaixin") as well as several U.S.-based SaaS businesses, today announced the filing of its annual report on Form 20-F for the year ended December 31, 2019 with the Securities and Exchange Commission (the "SEC"). The annual report was filed with the SEC on July 7, 2020.

The Company received a notice from NYSE Regulation on July 1, 2020 indicating that the Company was not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its annual report with the SEC.

The Company was not able to file the annual report by its due date primarily due to (i) the impact of the outbreak of COVID-19, as set forth in the Form 6-K furnished to the SEC on April 28, 2020, (ii) the internal review to complete its financial data, as set forth in the Form 12b-25 submitted to the SEC on June 12, 2020, and (iii) additional  time required after June 29, 2020 to prepare its 2019 financial statements and annual report.

The annual report on Form 20-F, which contains the Company's audited consolidated financial statements, can be accessed on the SEC's website at http://www.sec.gov as well as through the investor relations section of the Company's website at http://www.renren-inc.com. Holders of the Company's securities may request a hard copy of the Company's annual report free of charge by contacting the Investor Relations department by mail at:

Renren Inc.
Investor Relations Department
5/F, North Wing
18 Jiuxianqiao Middle Road, Chaoyang District
Beijing 100016
People's Republic of China

About Renren Inc.

Renren Inc. (NYSE: RENN) operates a leading premium used auto business in China through its subsidiary Kaixin Auto Holdings (NASDAQ: KXIN) as well as several US-based SaaS business. Renren's ADSs, each currently representing forty-five (45) Class A ordinary shares of the Company, are traded on NYSE under the symbol "RENN".

For investor and media inquiries please contact:

Investor Relations Department
Renren Inc.
Tel: (86 10) 8448 1818 ext. 1300
Email: ir@renren-inc.com

 

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SOURCE Renren Inc.

FAQ

What is the significance of Renren's Form 20-F filing on July 7, 2020?

It reflects Renren's submission of its annual report for 2019, including audited financial statements, to comply with SEC regulations.

Why did Renren delay its annual report filing?

The delay was primarily due to COVID-19 impacts, internal financial reviews, and additional preparation time needed.

What are the consequences of Renren's non-compliance notice from NYSE?

The notice indicates Renren failed to file its annual report on time, which may affect its trading status on the NYSE.

Where can I access Renren's annual report?

The report can be accessed on the SEC's website and Renren's investor relations page.

What is the stock symbol for Renren?

Renren's stock is traded on the NYSE under the symbol 'RENN'.