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Autozi Internet Technology (Global) Ltd. Received Two Notification Letters from Nasdaq
Prnewswire· 2025-12-02 21:30
Core Viewpoint - Autozi Internet Technology (Global) Ltd. is facing potential delisting from the Nasdaq due to non-compliance with minimum market value and low closing bid price of its securities [2][3]. Group 1: Nasdaq Notifications - The first notification from Nasdaq indicates that Autozi does not meet the minimum Market Value of Publicly Held Shares (MVPHS) of US$15 million, as it has been below this threshold for 30 consecutive business days [2]. - Autozi has a compliance period of 180 calendar days, until May 26, 2026, to regain compliance with the MVPHS requirement [2]. - The second notification states that Autozi's securities had a closing bid price of $0.10 or less for ten consecutive trading days, leading to a determination for delisting [3]. - Autozi has the option to appeal this determination to a Hearings Panel by December 3, 2025, which will stay the suspension of its securities pending the Panel's decision [3]. Group 2: Company Overview - Autozi, founded in 2010, is a rapidly growing automotive service and technology platform in China, offering a wide range of automotive products and services [4]. - The company utilizes an advanced supply chain cloud platform and SaaS solutions to create an integrated ecosystem that enhances collaboration and efficiency across the automotive industry [4].