XIAMEN,
China, Sept. 23, 2022 /PRNewswire/ -- Qudian
Inc. ("Qudian" or the "Company") (NYSE: QD), a
consumer-oriented technology company in China, today announced
that it has received a letter from the New York Stock
Exchange (the "NYSE") dated September 22, 2022, notifying
the Company that it is below the NYSE's continued listing standards
due to the trading price of Qudian's American depositary
shares (the "ADSs").
Pursuant to Section 802.01C of the NYSE's Listed Company Manual,
a company will be considered to be below compliance standards if
the average closing price of its security as reported on the
consolidated tape is less than US$1.00 over a consecutive
30 trading-day period. The Company has six months ("the Cure
Period") following receipt of the notice to regain compliance with
the minimum share price requirement. The Company can regain
compliance at any time during the Cure Period if on the last
trading day of any calendar month during the Cure Period the
Company has a closing share price of at least US$1.00 per
ADS and an average closing share price of at
least US$1.00 per ADS over the 30 trading-day period
ending on the last trading day of that month. In the event that at
the expiration of the six-month Cure Period, both a US$1.00
per ADS closing share price on the last trading day of the
Cure Period and a US$1.00 per ADS average closing share
price over the 30 trading-day period ending on the last trading day
of the Cure Period are not attained, the NYSE will commence
suspension and delisting procedures.
To address this issue, the Company intends to monitor the market
conditions of its listed securities and is still considering its
options. The Company has notified the NYSE on September 23, 2022 of its intent to cure the
deficiency. During the Cure Period, the Company's ADSs will
continue to be listed and traded on the NYSE, subject to its
compliance with other NYSE continued listing standards and other
rights of the NYSE to delist the ADSs. The NYSE notification does
not affect the Company's business operations, its U.S.
Securities and Exchange Commission reporting requirements or
contractual obligations.
About Qudian Inc.
Qudian Inc. ("Qudian") is a consumer-oriented technology
company in China. The Company historically focused on
providing credit solutions to consumers. The Company is exploring
innovative consumer products and services to satisfy Chinese
consumers' fundamental and daily needs by leveraging its technology
capabilities.
For more information, please
visit http://ir.qudian.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Among
other things, the expectation of its collection efficiency and
delinquency contains forward-looking
statements. Qudian may also make written or oral
forward-looking statements in its periodic reports to the SEC,
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements
about Qudian's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Qudian's goal and
strategies; Qudian's expansion
plans; Qudian's future business development, financial
condition and results of
operations; Qudian's expectations regarding demand for,
and market acceptance of, its
products; Qudian's expectations regarding keeping and
strengthening its relationships with customers, business partners
and other parties it collaborates with; general economic and
business conditions; and assumptions underlying or related to any
of the foregoing. Further information regarding these and other
risks is included in Qudian's filings with the SEC.
All information provided in this press release and in the
attachments is as of the date of this press release,
and Qudian does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Qudian Inc.
IR team
Tel: +86-592-596-8208
E-mail: ir@qudian.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: qudian@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: qudian@tpg-ir.com
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SOURCE Qudian Inc.