Jayud Global Logistics Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency
June 07 2024 - 4:15PM
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 it received a delinquency notification letter (the
"Notice") from the Listing Qualifications Department of The Nasdaq
Stock Market LLC ("Nasdaq") on June 6, 2024 indicating that the
Company is not currently in compliance with the minimum bid price
requirement set forth in Nasdaq's Listing Rules for continued
listing on the Nasdaq Capital Market, as the closing bid price for
the Company's ordinary shares listed on the Nasdaq Capital Market
was below $1.00 per share for 30 consecutive business days. Nasdaq
Listing Rule 5550(a)(2) requires listed securities to maintain a
minimum bid price of $1.00 per share, and Nasdaq Listing Rule
5810(c)(3)(A) provides that a failure to meet the minimum bid price
requirement exists if the deficiency continues for a period of 30
consecutive business days. The Notice provides that the Company has
a period of 180 calendar days from the date of the Notice, or until
December 3, 2024, to regain compliance with the minimum bid price
requirement.
The receipt of the Notice has no immediate
effect on the Company's business operations or the listing of the
Company's ordinary shares, which will continue to trade
uninterrupted on the Nasdaq under the ticker "JYD." Pursuant to the
Notice, the Company has until December 3, 2024 to regain compliance
with the minimum bid price requirement, during which time the
Company's ordinary shares will continue to trade on the Nasdaq
Capital Market. If at any time before December 3, 2024, the bid
price of the Company's ordinary shares closes at or above $1.00 per
share for a minimum of 10 consecutive business days, Nasdaq will
provide written confirmation of compliance to the Company.
In the event that the Company does not regain
compliance by December 3, 2024, the Company may be eligible for
additional time to regain compliance . To qualify, the Company
would be required to meet the continued listing requirement for
market value of publicly held shares and all other initial listing
standards for the Nasdaq Capital Market, except for the minimum bid
price requirement. In addition, the Company would be required to
notify Nasdaq of its intent to cure the deficiency during the
second compliance period.
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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