Token Cat Limited Announces Receipt of Minimum Bid Price Notice From Nasdaq

Core Points - Token Cat Limited has received a Deficiency Letter from Nasdaq indicating non-compliance with the minimum bid price requirement as its closing bid price per ADS has been below US$1.00 for 30 consecutive business days [1] - The company has a Compliance Period of 180 calendar days until September 15, 2025, to regain compliance by achieving a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days [2] - If compliance is not regained by the deadline, the company may be eligible for an additional 180-day compliance period if it meets other listing requirements [3] - The company is monitoring its ADS closing bid price and considering options, including adjusting the ADS-to-Class A ordinary share ratio, to regain compliance [4] - Token Cat Limited is currently compliant with all other Nasdaq continued listing standards and the Deficiency Letter does not affect its business operations or reporting requirements [4] Company Overview - Founded in 2010, Token Cat Limited is a leading automotive marketplace in China, connecting consumers with manufacturers, dealers, and service providers [5] - The company integrates digital platforms with offline sales events to offer comprehensive automotive marketing and transaction services [5] - Token Cat utilizes proprietary data analytics and advanced digital marketing systems to enhance advertising efficiency for industry customers [5] - The company is exploring entry into the cryptocurrency sector [5]