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

Rhea-AI Summary

Tuniu Corporation (Nasdaq: TOUR), a leading online leisure travel company in China, announced it has regained compliance with the Nasdaq Listing Rule 5450(a)(1), concerning the Minimum Bid Price Requirement. This follows a Deficiency Notice received on September 19, 2022, due to its American depositary shares (ADSs) trading below the required $1.00 for 30 consecutive business days. From November 29 to December 12, 2022, Tuniu's ADSs met the threshold, allowing Nasdaq to confirm compliance on December 13, 2022. This matter is now resolved.

Positive

• Regained compliance with Nasdaq Listing Rule 5450(a)(1).
• ADSs traded above the $1.00 threshold for required 10 consecutive days.

Negative

• None.

NANJING, China, Dec. 14, 2022 /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 December 13, 2022, 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 September 19, 2022 indicating that the closing bid price for the Company's American depositary shares (the "ADSs") was below the minimum bid price of $1.00 required for continued listing under the Nasdaq Listing Rule 5450(a)(1) for 30 consecutive business days. 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 10 consecutive business days from November 29 through December 12, 2022, 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; 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.

View original content:https://www.prnewswire.com/news-releases/tuniu-has-regained-compliance-with-nasdaqs-minimum-bid-price-requirement-301702510.html

SOURCE Tuniu Corporation

FAQ

What did Tuniu Corporation announce on December 14, 2022?

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

What is the Nasdaq Listing Rule 5450(a)(1)?

It requires companies to maintain a minimum bid price of $1.00 for their shares to remain listed.

When did Tuniu's ADSs meet the compliance requirement?

Tuniu's ADSs met the compliance requirement from November 29 to December 12, 2022.

What was the reason for Tuniu receiving a Deficiency Notice?

Tuniu received a Deficiency Notice because its ADSs traded below the $1.00 minimum bid price for 30 consecutive business days.

What is the stock symbol for Tuniu Corporation?

The stock symbol for Tuniu Corporation is TOUR.