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Jianzhi Education Technology Group Company Limited (the "Company" or "Jianzhi") (NASDAQ:JZ), a leading provider of digital educational content in China, today announced that it has received a notification letter (the "Compliance Notice") from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market Inc. ("Nasdaq") dated March 5, 2024, informing the Company that it has regained compliance with Nasdaq Listing Rule 5550(a)(1) (the "Minimum Bid Price Requirement").
As previously announced, the Company received a notification letter from the Nasdaq dated September 12, 2023, indicating that for the last 30 consecutive business days, the closing bid price for 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). Pursuant to the Nasdaq Listing Rules 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until March 11, 2024, to regain compliance under the 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 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, for the last 10 consecutive business days, from February 20 through March 4, 2024, the closing bid price of the Company's ADSs has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with the Minimum Bid Price Requirement, and the matter is closed.
Posted In: JZ
