111, Inc. Receives Nasdaq Notification in Shanghai on Sept. 27, 2024
- 111, Inc. received a notification from Nasdaq regarding its ADSs trading below the minimum bid price.
- The company has a compliance period until March 24, 2025, to meet the $1.00 bid price requirement.
- The notification does not impact the company's business operations, and it intends to monitor its ADSs closely.
On September 27, 2024, 111, Inc., a tech-enabled healthcare platform based in Shanghai, announced it received a notification from Nasdaq regarding its American depositary shares (ADSs). The notification indicated that the company's ADSs had been trading below the minimum bid price of $1.00 for 30 consecutive business days. This situation does not currently affect the listing or trading of the ADSs on Nasdaq. The company has until March 24, 2025, to regain compliance with Nasdaq's listing rules. If the closing bid price reaches $1.00 or higher for ten consecutive business days during this compliance period, Nasdaq will confirm compliance. If the company fails to meet this requirement by the deadline, it may be eligible for an additional 180-day compliance period, subject to Nasdaq's discretion. Despite this notification, the company's business operations remain unaffected, and it plans to monitor its ADSs closely to regain compliance with the minimum bid price requirement. The announcement also included forward-looking statements regarding the company's expectations and potential risks associated with regulatory compliance and market competition.