Core Viewpoint - Jiuzi Holdings Inc. has received a deficiency letter from Nasdaq due to the late filing of its annual report for the year ended October 31, 2023, which may affect its compliance status on the exchange [1][2]. Group 1: Compliance and Regulatory Actions - The company has 60 calendar days from March 25, 2024, to submit a Compliance Plan to regain compliance with Nasdaq Listing Rules [2]. - If the Compliance Plan is accepted, Nasdaq may grant an extension until September 10, 2024, for the company to regain compliance [2]. - The deficiency letter does not have an immediate impact on the listing of the company's ordinary shares on the Nasdaq Capital Market [2]. Group 2: Company Overview - Jiuzi Holdings, Inc. is headquartered in Hangzhou, China, and was established in 2017, focusing on the sale of New Energy Vehicles (NEVs) in third and fourth-tier cities [3]. - The company operates 51 franchise stores and one company-owned store, primarily selling battery-operated electric vehicles sourced from over twenty NEV manufacturers [3].
Jiuzi Holdings Received Nasdaq Notification Letter Related to Late Filing of Annual Report on Form 20-F