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Youxin Technology Ltd Receives Nasdaq Delisting Determination, Plans to Appeal, and Announces 1-for-80 Share Consolidation
Globenewswire· 2025-09-26 15:45
Core Points - Youxin Technology Ltd has received a Staff Determination Notice from Nasdaq regarding the delisting of its securities due to a closing bid price below $0.10 for ten consecutive trading days [1][3] - The Company is currently not in compliance with the minimum bid price requirement of $1.00 per share, having been below this threshold for 30 consecutive business days [2] - The Company plans to appeal Nasdaq's determination, which will stay the suspension of trading pending the Panel's decision [8] Company Actions - The Company’s Board has approved a share consolidation at a ratio of one-for-eighty, effective September 30, 2025, to regain compliance with Nasdaq listing rules [4][5] - Following the share consolidation, the number of Class A ordinary shares will decrease from approximately 171.3 million to about 2.1 million, and the authorized shares will be reduced from 400 million to 5 million [6][7] - The new par value of the shares will be set at $0.008 after the consolidation [6] Company Overview - Youxin Technology Ltd is a SaaS and PaaS provider focused on aiding retail enterprises in digital transformation through cloud-based solutions [9] - The Company offers a comprehensive suite of omnichannel digital solutions that integrate various aspects of commerce, including inventory management and e-commerce capabilities [10]
Youxin Technology Ltd Announces Pricing of $6.0 Million Underwritten Public Offering
Globenewswire· 2025-09-05 12:00
Core Viewpoint - Youxin Technology Ltd has announced a public offering expected to raise approximately $6.0 million to support its digital transformation initiatives for retail enterprises [1] Group 1: Offering Details - The offering consists of 21,428,571 Common Units, each including one Ordinary Share or one Pre-Funded Warrant, and two types of Registered Common Warrants with varying exercise prices [2] - The public offering price per Common Unit is set at $0.28, while the Pre-Funded Unit is priced at $0.27999 [2] - Aegis Capital Corp. has been granted a 45-day option to purchase additional shares and warrants, up to 15% of the number sold in the offering [3] Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general corporate purposes and working capital [4] Group 3: Company Overview - Youxin Technology Ltd specializes in SaaS and PaaS solutions aimed at aiding retail enterprises in their digital transformation through cloud-based products [8] - The company offers a comprehensive suite of omnichannel digital solutions that integrate various aspects of commerce, including inventory management and e-commerce capabilities [8]
Youxin Technology Ltd Receives Nasdaq Notifications Regarding Minimum Bid and Market Value of Listed Securities Requirements
Globenewswire· 2025-08-15 20:45
Core Viewpoint - Youxin Technology Ltd has received notices from Nasdaq regarding non-compliance with minimum bid price and market value requirements for continued listing on the Nasdaq Capital Market [1][2]. Compliance Requirements - The company has a compliance period of 180 days, until February 9, 2026, to meet the minimum bid price requirement of $1.00 per share for at least 10 consecutive business days [3]. - If the company fails to meet the minimum bid price requirement, it may be eligible for an additional 180-day grace period, provided it meets other listing standards [4]. - The company also has a separate 180-day compliance period to meet the minimum Market Value of Listed Securities (MVLS) requirement of $35 million [5]. Business Operations - The receipt of the notices does not affect the company's business operations, and it intends to take measures to regain compliance with Nasdaq Listing Rules [6]. - Youxin Technology is a SaaS and PaaS provider focused on helping retail enterprises with digital transformation through cloud-based solutions [7].
Youxin Technology Ltd Reports First Half of Fiscal Year 2025 Financial Results
Prnewswire· 2025-07-14 17:00
Core Viewpoint - Youxin Technology Ltd reported a 21% year-over-year revenue growth in the first half of fiscal year 2025, driven by the resumption of customized CRM system development services, despite facing near-term margin pressures and a net loss [2][4][6]. Financial Overview - Total revenues for the first half of fiscal year 2025 were $346,013, an increase of 21% from $285,392 in the same period of the previous year [4][6]. - Gross profit was $129,627, down from $193,746 year-over-year, resulting in a gross margin of 37%, compared to 68% in the prior year [10][23]. - The net loss for the period was $1.7 million, compared to a net loss of $0.9 million in the same period last year [6][13]. Revenue Breakdown - Revenue from professional services reached $326,793, a significant increase of 169% from $121,366 year-over-year [4][14]. - Revenue from payment channel services decreased by 88% to $17,098, down from $140,663, attributed to reduced client demand [8][14]. - Revenue from subscription services was $97,128, a decrease of 15% from $114,789, due to a decline in customized CRM system development services [14]. Cost and Expenses - Cost of revenues increased by 136% to $216,386 from $91,646 in the previous year [9]. - Operating expenses totaled $1.4 million, up from $1.2 million year-over-year, with significant increases in general and administrative expenses [11][15]. - Research and development expenses decreased by 83% to $140,262, primarily due to reduced labor-related costs [15]. Cash Flow and Financial Condition - As of March 31, 2025, cash was $1,636,920, a substantial increase from $18,372 as of September 30, 2024 [6][17]. - Net cash used in operating activities was $2.3 million, compared to $0.6 million in the same period last year [17]. - Net cash provided by financing activities was $7.2 million, significantly higher than $0.3 million in the previous year [18]. Strategic Outlook - The company aims to optimize its PaaS platform and SaaS services to enhance customer value and loyalty, while also collaborating with strategic vendors to meet client needs [2].