Core Viewpoint - FLJ Group Limited has been denied continued listing on The Nasdaq Global Market due to failure to meet compliance requirements, and the company has submitted an appeal to contest this decision [1][3][4]. Group 1: Compliance Issues - The company received a notification from Nasdaq on February 20, 2024, indicating it no longer met the requirement of $50 million in total assets and total revenue for the most recent fiscal year or two of the last three fiscal years [2]. - The company submitted a compliance plan to Nasdaq on April 5, 2024, but this plan was deemed insufficient by Nasdaq, leading to the denial of the continued listing request [3]. Group 2: Appeal Process - On May 1, 2024, the company filed an appeal against Nasdaq's determination to a Hearings Panel, which will temporarily stay the suspension of its securities pending the Panel's decision [4]. Group 3: Company Overview - FLJ Group Limited operates in the insurance agency and insurance technology sectors in China, providing a range of insurance products and developing technology solutions to connect consumers with underwriting support [5].
FLJ GROUP LIMITED RECEIVES NASDAQ DETERMINATION LETTER ON COMPLIANCE PLAN