August 11, 2022
Tuniu, a number one on-line recreational trip corporate in China, introduced on Monday that it

Tuniu, a number one on-line recreational trip corporate in China, introduced on Monday that it had won a caution from the Nasdaq on April 13 because the last worth of its American Depositary Stocks (ADS) had fallen beneath the necessities for keeping up its position at the alternate.

Consistent with the Nasdaq’s record laws, a indexed corporate will most often obtain a delisting caution if its inventory worth falls beneath $1 according to percentage and stays there for 30 consecutive industry days. Generally, if the corporate fails to boost its inventory worth to the buying and selling same old inside 90 days after receiving the caution, the corporate shall be pressured to delist.

Then again, in view of the have an effect on of the Covid-19 epidemic at the international economic system, the Nasdaq needed to regulate the guideline in 2020, extending the 90-day length to 180 days. Due to this fact, Tuniu has 180 days to spice up its inventory worth above $1 according to percentage for greater than 10 consecutive industry days so as to steer clear of being got rid of from the alternate.

Tuniu mentioned within the announcement that the notification letter has no present have an effect on at the buying and selling of the corporate at the Nasdaq alternate and that the corporate will take all affordable measures to go back to compliance. As well as, if its percentage worth fails to achieve the specified $1 according to percentage threshold sooner than October 10, 2022, Nasdaq government would possibly nonetheless give you the company with an extra 180-day compliance length.

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That is the second one time that Tuniu has won a delisting caution from the Nasdaq because the outbreak of the epidemic. In Might 2020, Tuniu won the primary notification letter from the alternate because the corporate’s inventory worth had fallen underneath $1 according to percentage and stay there for greater than a month.

Tuniu therefore introduced an settlement with Caissa Tosun Construction Co., Ltd., whilst transferred the entire Tuniu stocks held by way of its subsidiaries to Caissa Tosun Construction Co., Ltd. The 3 events collectively advanced a tourism industry. This sequence of movements successfully raised Tuniu’s percentage worth an allowed the corporate to stay indexed at the Nasdaq.

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Then again, since 2020, Tuniu’s efficiency has now not progressed. On March 16 this yr, the corporate introduced its unaudited annual efficiency record for the 2021 fiscal yr. The record displays that the company garnered a web source of revenue of 426.3 million yuan ($66.5 million) in 2021, down 5.3% from 2020. In the meantime, its annual running loss narrowed to 180 million yuan from 1.3 billion yuan in 2020, and web losses narrowed by way of 90% to 130 million yuan. The corporate’s gross benefit margin for the entire yr diminished by way of 7 proportion issues year-on-year to 40.2%.