Tuniu Has Regained Compliance with Nasdaq's Minimum Bid Price Requirement

Rhea-AI Summary

Tuniu (Nasdaq: TOUR), a leading online leisure travel company in China, has regained compliance with Nasdaq's minimum bid price requirement. The company received a compliance notice from Nasdaq on October 16, 2024, confirming that it has met the Nasdaq Listing Rule 5450(a)(1).

Previously, on August 6, 2024, Tuniu had received a deficiency notice from Nasdaq, indicating that its American depositary shares (ADSs) had been trading below the minimum bid price of $1.00 for 31 consecutive business days. The company was given a 180-day compliance period to rectify this issue.

Tuniu successfully met the requirement by maintaining a closing bid price of $1.00 or greater for its ADSs for over 10 consecutive business days. As a result, Nasdaq has confirmed Tuniu's compliance, and the matter is now closed.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement
• Closing bid price of ADSs remained at $1.00 or higher for over 10 consecutive business days
• Avoided potential delisting from Nasdaq

Negative

• None.

Insights

Financial Analyst

This news is primarily administrative and doesn't significantly impact Tuniu's financial position or operations. Regaining compliance with Nasdaq's minimum bid price requirement is positive as it removes the immediate threat of delisting, which could have negatively affected investor confidence and liquidity.

However, the underlying factors that led to the initial non-compliance, such as market performance or investor sentiment, may still be present. The company's ability to maintain compliance will depend on its future financial performance and market conditions.

For investors, this development reduces short-term uncertainty but doesn't address fundamental business challenges or opportunities. It's important to focus on Tuniu's financial health, growth strategies and market position in China's competitive online travel industry for a comprehensive investment assessment.

NANJING, China, Oct. 17, 2024 /PRNewswire/ -- Tuniu Corporation (Nasdaq: TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced that it has received a notification letter (the "Compliance Notice") from the Listing Qualifications Department of the Nasdaq Stock Market Inc. ("Nasdaq") dated October 16, 2024, informing the Company that it has regained compliance with the Nasdaq Listing Rule 5450(a)(1) (the "Minimum Bid Price Requirement").

As previously announced, Tuniu received a notification letter (the "Deficiency Notice") from the Nasdaq dated August 6, 2024, indicating that the closing bid price for the Company's American depositary shares (the "ADSs") was, for the past 31 consecutive business days, below the minimum bid price of $1.00 required for continued listing under the Nasdaq Listing Rule 5450(a)(1). According to the Deficiency Notice, if at any time during the 180-day compliance period, the closing bid price of the Company's ADSs is at least $1.00 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, the closing bid price of the Company's ADSs has been at $1.00 per ADS or greater for over 10 consecutive business days, and the Company has regained compliance with the Minimum Bid Price Requirement and the matter is closed.

About Tuniu

Tuniu (Nasdaq: TOUR) is a leading online leisure travel company in China that offers integrated travel service with a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com. 

Safe Harbor Statement

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and 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. Tuniu may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Tuniu's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but are not limited to the following: Tuniu's goals and strategies; the growth of the online leisure travel market in China; the demand for Tuniu's products and services; its relationships with customers and travel suppliers; Tuniu's ability to offer competitive travel products and services; Tuniu's future business development, results of operations and financial condition; competition in the online travel industry in China; government policies and regulations relating to Tuniu's structure, business and industry; the impact of health epidemics on Tuniu's business operations, the travel industry and the economy of China and elsewhere generally; and the general economic and business condition in China and elsewhere. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tuniu does not undertake any obligation to update such information, except as required under applicable law.

 

View original content:https://www.prnewswire.com/news-releases/tuniu-has-regained-compliance-with-nasdaqs-minimum-bid-price-requirement-302278892.html

SOURCE Tuniu Corporation

FAQ

What was the minimum bid price requirement Tuniu (TOUR) had to meet for Nasdaq compliance?

Tuniu (TOUR) had to maintain a closing bid price of at least $1.00 for its American depositary shares (ADSs) for a minimum of ten consecutive business days to regain compliance with Nasdaq's minimum bid price requirement.

When did Tuniu (TOUR) receive the initial deficiency notice from Nasdaq?

Tuniu (TOUR) received the initial deficiency notice from Nasdaq on August 6, 2024, indicating that its ADSs had been trading below the minimum bid price of $1.00 for 31 consecutive business days.

How long was the compliance period given to Tuniu (TOUR) by Nasdaq?

Nasdaq gave Tuniu (TOUR) a 180-day compliance period to meet the minimum bid price requirement after receiving the deficiency notice.

When did Tuniu (TOUR) receive confirmation of regaining compliance with Nasdaq's listing rules?

Tuniu (TOUR) received the compliance notice from Nasdaq on October 16, 2024, confirming that it had regained compliance with the minimum bid price requirement.