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For 30 consecutive trading days, the stock price is less than $ 1

Date time:2020-05-26

On May 22, Tuniu issued an announcement saying that because the closing price of Tuniu's ADS stock was below the minimum purchase price of $ 1 for 30 consecutive trading days, the company received the Nasdaq Securities Market on May 18 (hereinafter referred to as "Nasdaq") notification letter issued by the Listing Qualification Department, but this notification letter will not cause Tuniu to be delisted immediately.

Tuniu said in the announcement that if the company is still not compliant by December 28, 2020, Tuniu may also be eligible for an additional 180-day compliance period. At the same time, Tuniu pointed out that the notification letter sent by Nasdaq will not have any impact on the company's business operations, and Tuniu will also take all reasonable measures to restore compliance.

Tuniu closed at US $ 1 per share on April 3, and after two days of market rest, starting April 6, Tuniu's share price has been below US $ 1 per share. According to Nasdaq, listed companies whose stock price is less than $ 1 for 30 consecutive trading days will receive a pre-loss warning; companies that receive a warning will be forced to retreat if they cannot raise their stock price to trading standards within 90 days. city. However, in view of the impact of the new coronary pneumonia epidemic on the global economy, Nasdaq provided a series of grace policies for listed companies in April, including the extension of the "1 dollar warning" rule after June 30, 2020.

Nasdaq's adjusted rules show that Tuniu has a 180-day compliance period to restore the Nasdaq minimum purchase price, that is, if Tuniu is within the 180-day compliance period, the company's ADS stock closes If the price is not less than US $ 1 for at least 10 consecutive trading days, NASDAQ will provide the company with a written confirmation of compliance and close the case.

Tuniu was established in October 2006 and was successfully listed on NASDAQ in May 2014. Statistics show that Tuniu has lost nearly 6 billion yuan since its listing in 2014, with an average annual loss of nearly 1 billion yuan.