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So-Young Announces Receipt of Minimum Bid Price Notice from Nasdaq

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So-Young International Inc. (Nasdaq: SY), China's largest medical aesthetics social community, has received a notification from Nasdaq due to its American depositary shares (ADSs) closing bid price falling below $1.00 for 30 consecutive business days. This violates Nasdaq Listing Rule 5450(a)(1). The company has been given a 180-day compliance period until February 24, 2025, to regain compliance by maintaining a closing bid price of $1.00 or higher for at least ten consecutive business days. If unsuccessful, So-Young may be eligible for an additional 180-day period, subject to meeting other listing requirements. The company assures that this notice does not affect its current listing, trading, or business operations, and it will take all reasonable measures to regain compliance within the grace period.

So-Young International Inc. (Nasdaq: SY), la più grande comunità sociale di estetiche mediche in Cina, ha ricevuto una notifica da Nasdaq a causa del prezzo di chiusura delle sue azioni di deposito americane (ADS) sceso sotto $1.00 per 30 giorni lavorativi consecutivi. Questo viola la Regola di Listing Nasdaq 5450(a)(1). L'azienda ha ricevuto un periodo di conformità di 180 giorni fino al 24 febbraio 2025, per ripristinare la conformità mantenendo un prezzo di chiusura di $1.00 o superiore per almeno dieci giorni lavorativi consecutivi. In caso di insuccesso, So-Young potrebbe essere idonea per un ulteriore periodo di 180 giorni, a condizione di soddisfare altri requisiti di quotazione. L'azienda assicura che questa comunicazione non influisce sulla sua attuale quotazione, negoziazione o operazioni commerciali e adotterà tutte le misure ragionevoli per ripristinare la conformità entro il periodo di grazia.

So-Young International Inc. (Nasdaq: SY), la comunidad social de estética médica más grande de China, ha recibido una notificación de Nasdaq debido a que el precio de cierre de sus acciones de depósito americanas (ADS) ha caído por debajo de $1.00 durante 30 días hábiles consecutivos. Esto viola la Regla de Cotización 5450(a)(1) de Nasdaq. A la empresa se le ha otorgado un plazo de cumplimiento de 180 días hasta el 24 de febrero de 2025, para recuperar la conformidad manteniendo un precio de cierre de $1.00 o más durante al menos diez días hábiles consecutivos. Si no tiene éxito, So-Young podría ser elegible para un período adicional de 180 días, sujeto a cumplir con otros requisitos de cotización. La compañía asegura que esta notificación no afecta su actual cotización, negociación u operaciones comerciales, y tomará todas las medidas razonables para recuperar la conformidad dentro del período de gracia.

So-Young International Inc. (Nasdaq: SY)는 중국 최대의 의료 미용 사회 커뮤니티로, 30일 연속으로 미국 예탁 주식(ADS)의 종가가 $1.00 이하로 떨어졌다는 이유로 Nasdaq에서 알림을 받았습니다. 이는 Nasdaq 상장 규칙 5450(a)(1) 위반입니다. 회사는 2025년 2월 24일까지 180일의 준수 기간을 부여받아, 10일 이상의 연속 영업일 동안 $1.00 이상의 종가를 유지하여 준수를 회복해야 합니다. 만약 실패할 경우 So-Young은 추가로 180일의 기간을 받을 수 있으며, 다른 상장 요건을 충족해야 합니다. 회사는 이 통지가 현재의 상장, 거래 또는 사업 운영에 영향을 미치지 않으며, 유예 기간 내에 준수를 회복하기 위해 모든 합리적인 조치를 취할 것이라고 보장합니다.

So-Young International Inc. (Nasdaq: SY), la plus grande communauté sociale d'esthétique médicale en Chine, a reçu une notification de Nasdaq en raison du prix de clôture de ses actions de dépôt américain (ADS) tombé en dessous de 1,00 $ pendant 30 jours ouvrables consécutifs. Cela constitue une violation de la règle d'inscription Nasdaq 5450(a)(1). L'entreprise a reçu une période de conformité de 180 jours jusqu'au 24 février 2025, pour retrouver la conformité en maintenant un prix de clôture de 1,00 $ ou plus pendant au moins dix jours ouvrables consécutifs. En cas d'échec, So-Young pourrait être éligible à une période supplémentaire de 180 jours, sous réserve de remplir d'autres conditions d'inscription. L'entreprise assure que cet avis n'affecte pas son inscription, ses échanges ou ses opérations commerciales actuels, et elle prendra toutes les mesures raisonnables pour retrouver la conformité dans le délai de grâce.

So-Young International Inc. (Nasdaq: SY), die größte medizinisch-ästhetische Sozialgemeinschaft Chinas, hat eine Benachrichtigung von Nasdaq erhalten, weil der Schlusskurs ihrer amerikanischen Depotaktien (ADS) 30 aufeinanderfolgende Geschäftstage unter $1,00 gefallen ist. Dies verstößt gegen die Nasdaq Auflistungsregel 5450(a)(1). Das Unternehmen hat eine 180-tägige Frist zur Einhaltung bis zum 24. Februar 2025 erhalten, um die Einhaltung wiederherzustellen, indem es einen Schlusskurs von $1,00 oder mehr für mindestens zehn aufeinanderfolgende Geschäftstage beibehält. Bei Misserfolg könnte So-Young für einen zusätzlichen Zeitraum von 180 Tagen in Frage kommen, vorausgesetzt, andere Zulassungsvoraussetzungen werden erfüllt. Das Unternehmen versichert, dass diese Mitteilung keine Auswirkungen auf die aktuelle Listung, den Handel oder die Geschäftstätigkeit hat, und wird alle angemessenen Maßnahmen ergreifen, um die Einhaltung innerhalb der Nachfrist wiederherzustellen.

Positive
  • Company remains listed on Nasdaq despite notification
  • 180-day compliance period granted to regain minimum bid price
  • Possibility of additional 180-day compliance period if eligible
  • No immediate impact on business operations
Negative
  • ADS closing bid price below $1.00 for 30 consecutive business days
  • Risk of potential delisting if compliance is not achieved
  • Possible need for reverse stock split to meet minimum bid requirement

Insights

The receipt of a minimum bid price notice from Nasdaq is a significant concern for So-Young International Inc. This situation reflects potential investor skepticism and could lead to delisting if not addressed. The company has until February 24, 2025 to regain compliance, which may require strategic actions such as a reverse stock split. While this doesn't immediately impact operations, it may hinder future capital raising efforts and damage investor confidence. The extended compliance period provides some breathing room, but So-Young needs to focus on improving its fundamental business performance and investor relations to sustainably raise its stock price above the $1 threshold.

This notice highlights broader challenges in China's medical aesthetics industry. So-Young's stock performance may be influenced by factors such as regulatory changes, economic slowdowns and shifting consumer preferences. The company's claim of being the "largest and most vibrant social community" in its sector suggests a strong market position, but this hasn't translated into stock value. Investors should monitor industry trends, competitive landscape and So-Young's user growth metrics to gauge its potential for recovery. The next six months will be important in determining whether the company can leverage its market position to regain investor confidence and comply with Nasdaq requirements.

BEIJING, Aug. 29, 2024 /PRNewswire/ -- So-Young International Inc. (Nasdaq: SY) ("So-Young" or the "Company"), the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry, today announced it has received a notification letter dated August 28, 2024 (the "Notice") from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), indicating that for the last 30 consecutive business days, the closing bid price of 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 5450(a)(1). The Notice has no current effect on the listing or trading of the Company's ADSs on Nasdaq.

Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until February 24, 2025, to regain compliance under the Nasdaq Listing Rules. 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 at least ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance by February 24, 2025, subject to the determination by the staff of Nasdaq, the Company may be eligible for an additional 180-day compliance period if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the minimum bid price requirement. In this case, the Company will need to provide written notice of its intention to cure the deficiency during the second compliance period, including by effecting a reverse stock split, if necessary.

The Nasdaq notification letter does not affect the Company's business operations, and the Company will take all reasonable measures to regain compliance within the prescribed grace period.

About So-Young International Inc.

So-Young International Inc. (Nasdaq: SY) is the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry. The Company presents users with reliable information through offering high quality and trustworthy content together with a multitude of social functions on its platform, as well as by curating medical aesthetic service providers that are carefully selected and vetted. Leveraging So-Young's strong brand image, extensive audience reach, trust from its users, highly engaging social community and data insights, the Company is well-positioned to expand both along the medical aesthetic industry value chain and into the massive, fast-growing consumption healthcare service market.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under 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," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. So-Young may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in verbal statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about So-Young's beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and So-Young undertakes no duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

So-Young

Investor Relations
Ms. Mona Qiao
Phone: +86-10-8790-2012
E-mail: ir@soyoung.com 

Christensen

In China
Ms. Dee Wang
Phone: +86-10-5900-1548
E-mail: dee.wang@christensencomms.com 

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com 

Cision View original content:https://www.prnewswire.com/news-releases/so-young-announces-receipt-of-minimum-bid-price-notice-from-nasdaq-302233810.html

SOURCE So-Young International Inc.

FAQ

Why did So-Young (SY) receive a notification from Nasdaq?

So-Young (SY) received a notification from Nasdaq because its ADS closing bid price fell below $1.00 for 30 consecutive business days, violating Nasdaq Listing Rule 5450(a)(1).

What is the deadline for So-Young (SY) to regain compliance with Nasdaq's minimum bid price requirement?

So-Young (SY) has until February 24, 2025, to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share.

How can So-Young (SY) regain compliance with Nasdaq's listing rules?

So-Young (SY) can regain compliance if its ADS closing bid price remains at $1.00 or higher for at least ten consecutive business days during the 180-day compliance period.

What happens if So-Young (SY) doesn't meet Nasdaq's minimum bid price requirement by February 24, 2025?

If So-Young (SY) doesn't meet the requirement by February 24, 2025, it may be eligible for an additional 180-day compliance period, subject to meeting other listing standards and providing written notice of intention to cure the deficiency.

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