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

Rhea-AI Summary

Tuniu Corporation (Nasdaq: TOUR), a leading online travel company in China, announced that it has regained compliance with Nasdaq's Minimum Bid Price Requirement. This follows a notification received from Nasdaq on June 26, 2020, confirming compliance after the company's American depositary shares maintained a closing bid price of at least $1.00 for ten consecutive business days from June 12 to June 25, 2020. The prior deficiency notice had been issued on May 18, 2020, citing the stock's price falling below the $1.00 minimum for 30 consecutive days.

Positive

• Regained compliance with Nasdaq Listing Rule 5450(a)(1) regarding minimum bid price.
• American depositary shares maintained a closing bid price of $1.00 or greater for ten consecutive days.

Negative

• None.

NANJING, China, June 29, 2020 /PRNewswire/ -- Tuniu Corporation (Nasdaq:TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced that it received a notification letter (the "Compliance Notice") from the Listing Qualifications Department of the Nasdaq Stock Market Inc. ("Nasdaq") dated June 26, 2020, indicating that the Company has regained compliance with the Nasdaq Listing Rule 5450(a)(1) (the "Minimum Bid Price Requirement") and the matter is closed.

On May 18, 2020, Tuniu received a notification letter (the Deficiency Notice") from the Nasdaq indicating that the closing bid price for the Company's American depositary shares (the "ADSs"), each representing three Class A ordinary shares of the Company, was below the minimum bid price of $1.00 required for continued listing under Nasdaq Listing Rule 5450(a)(1) for 30 consecutive business days. According to the Deficiency Notice, if at any time during the tolling period or 180 day compliance period, the closing bid price of the Company's security 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 10 consecutive business days from June 12 through June 25, 2020, 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 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 covers over 420 departing cities throughout China and all popular destinations worldwide. 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; the Company'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; relevant government policies and regulations relating to the Company's structure, business and industry; the impact of the COVID-19 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.

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SOURCE Tuniu

FAQ

What recent compliance achievement did Tuniu Corporation (Nasdaq: TOUR) announce?

Tuniu Corporation announced that it has regained compliance with Nasdaq's Minimum Bid Price Requirement.

When did Tuniu receive the Compliance Notice from Nasdaq?

Tuniu received the Compliance Notice from Nasdaq on June 26, 2020.

What was the issue that Tuniu faced with Nasdaq prior to regaining compliance?

Tuniu faced a deficiency notice due to its American depositary shares closing below $1.00 for 30 consecutive business days.

How long did Tuniu's ADSs maintain the required bid price to regain compliance?

Tuniu's ADSs maintained the required bid price of $1.00 or greater for ten consecutive business days from June 12 to June 25, 2020.

What are the implications of Tuniu's regained compliance with Nasdaq for investors?

Regaining compliance with Nasdaq's listing requirements helps ensure Tuniu's shares remain listed, which is important for investor confidence and accessibility.