China Index Holdings Receives Notification from Nasdaq Regarding Minimum Bid Price Requirements
01 Junho 2022 - 7:47AM
China Index Holdings Limited (NASDAQ: CIH), (“CIH” or the
“Company”), a leading real estate information and analytics service
platform provider in China, today announced that the Company has
received a written notification from Nasdaq Listing Qualifications
department of the Nasdaq Stock Market LLC (“Nasdaq”) dated May 31,
2022. The letter states that the Company is currently not in
compliance with the minimum bid price requirement set forth under
Nasdaq Listing Rule 5450(a)(1) (the “Rule”), because the bid price
of the Company’s American depositary shares (“ADSs”) closed below
US$1 per share for the 30 consecutive business days from April 18
through May 27, 2022.
The Company is granted a compliance period of 180 calendar days,
expiring on November 28, 2022, to regain compliance. The Company
will regain compliance if, at any time during this 180-day period,
the closing bid price of the Company’s ADSs is at least US$1 for a
minimum of ten consecutive business days. In the event the Company
does not regain compliance with the Rule within 180 calendar days,
the Company may be eligible for additional time to cure the
delinquency.
The Company will consider available options to cure the
deficiency and regain compliance with the Rule’s minimum bid price
requirement within the prescribed compliance period. The Company’s
ADSs will continue to be listed and traded on the Nasdaq Stock
Market during this period, unaffected by the receipt of the written
notice from Nasdaq.
This announcement is made in compliance with Nasdaq Listing Rule
5810(b), which requires prompt disclosure of receipt of a
delinquency notification.
About CIH
CIH operates a leading real estate information and analytics
service platform in China in terms of geographical coverage and
volume of data points. Its services span across database, analytics
and promotions services for China’s real estate markets. CIH serves
a substantial base of real estate participants in China, including
real estate developers, brokers and agents, property management
companies, financial institutions and individual professionals,
with an authoritative, comprehensive and seasonable collection of
real estate data, complemented by a variety of powerful analytical
and marketing tools. For more information about CIH, please visit
http://ir.chinaindexholdings.com.
Safe Harbor Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking 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,” “is expected to,”
“anticipates,” “aim,” “future,” “intends,” “plans,” “believes,”
“are likely to,” “estimates,” “may,” “should” and similar
expressions, and include, without limitation, statements regarding
the Company’s future financial performance, revenue guidance,
growth and growth rates, market position and continued business
transformation. Such statements are based upon management’s current
expectations and current market and operating conditions, and
relate to events that involve known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and many
of which are beyond the Company’s control, which may cause its
actual results, performance or achievements to differ materially
from those in the forward-looking statements. Potential risks and
uncertainties include, without limitation, the impact of the
Company’s business development strategies, the Company’s ability to
continue as a going concern in the future, the impact of the
COVID-19 pandemic, and the impact of current and future government
policies affecting China’s real estate market. 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. The Company does not undertake any obligation
to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
law.
For investor and media inquiries, please contact:
Ms. Jessie Yang
Investor Relations
Email: CIH-IR@fang.com
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