Jayud Global Logistics Receives Nasdaq Notification of Non-Compliance with Listing Rule 5550(b)(1)
May 03 2024 - 4:30PM
Jayud Global Logistics Limited (NASDAQ: JYD) ("Jayud" or the
"Company"), a leading end-to-end supply chain solution provider
based in Shenzhen, specializing in cross-border logistics, today
announced that on May 1, 2024, it received a letter from The Nasdaq
Stock Market LLC (“Nasdaq”) notifying the Company that it is no
longer in compliance with the minimum stockholders' equity
requirement for continued listing on the Nasdaq Capital Market.
Nasdaq Listing Rule 5550(b)(1) requires companies listed on Nasdaq
Capital Market to maintain stockholders' equity of at least
$2,500,000. In accordance with Nasdaq Marketplace Rule
5810(c)(2)(A), the Company has 45 calendar days (no later than June
17, 2024) to submit a plan to regain compliance. The Company
intends to submit a compliance plan within 45 days of the date of
the notification and will evaluate available options to resolve the
deficiency and regain compliance. If its plan is accepted, the
Company can be granted an extension of up to 180 calendar days from
May 1, 2024 to evidence compliance. The notification letter has no
immediate impact on the listing of the Company’s ordinary shares,
which will continue to be listed and traded on The Nasdaq Capital
Market.
About Jayud Global Logistics
Limited
Jayud Global Logistics Limited is one of the
leading Shenzhen-based end-to-end supply chain solution providers
in China, focusing on cross-border logistics services.
Headquartered in Shenzhen, the Company benefits from the unique
geographical advantages of providing a high degree of support for
ocean, air, and overland logistics. The Company has established a
global operation nexus featuring logistic facilities throughout
major transportation hubs in China and globally, with footprints in
12 provinces in Mainland China and 16 countries across six
continents. Jayud offers a comprehensive range of cross-border
supply chain solution services, including freight forwarding,
supply chain management, and other value-added services. With its
strong service capabilities and research and development
capabilities in proprietary IT systems, the Company provides
customized and efficient logistics solutions and develops
long-standing customer relationships. For more information, please
visit the Company’s website: https://ir.jayud.com.
Forward-Looking Statements
Certain statements in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
the Company’s current expectations and projections about future
events that the Company believes may affect its financial
condition, results of operations, business strategy, and financial
needs, including the expectation that the Offering will be
successfully completed. Investors can identify these
forward-looking statements by words or phrases such as “may”,
“will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”,
“plan”, “believe”, “is/are likely to”, “potential”, “continue” or
other similar expressions. The Company undertakes no obligation to
update or revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company’s
registration statement and other filings with the SEC.
For more information, please
contact:
Jayud Global Logistics LimitedInvestor Relations
DepartmentEmail: ir@jayud.com
Investor Relations
Contact:Matthew Abenante, IRCPresidentStrategic Investor
Relations, LLCTel:
347-947-2093Email: matthew@strategic-ir.com
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