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Jianzhi Education Faces Nasdaq Compliance Challenge: Urgent 180-Day Action Required

$JZ
Form 6-K
Filed on: 2025-01-17
Source
Jianzhi Education Faces Nasdaq Compliance Challenge: Urgent 180-Day Action Required

Here are the key insights extracted from the financial report of Jianzhi Education Technology Group Company Limited (Form 6-K):

  1. Company Overview: Jianzhi Education Technology Group Company Limited is a foreign private issuer registered under the NASDAQ with the commission file number 001-41445. The company's principal executive office is located in Beijing, China.
  2. Recent Notification from Nasdaq: The company received a notification on January 15, 2025, from Nasdaq stating that its American depositary shares (ADSs) have been trading below the minimum bid price of $1.00 per share for the last 30 consecutive business days.
  3. Compliance Period: Jianzhi has been granted a 180-day compliance period until July 14, 2025, to regain compliance with the minimum bid price requirement. If the closing bid price of the ADSs reaches $1.00 or higher for at least ten consecutive business days during this period, Nasdaq will confirm compliance.
  4. Potential Delisting: If Jianzhi does not regain compliance by the end of the compliance period, it may qualify for an additional 180-day period to regain compliance or face delisting. To qualify for the additional period, the company must meet continued listing requirements and may need to consider a reverse stock split.
  5. Impact on Operations: The notification from Nasdaq does not currently affect the company's business operations. However, the company will take measures to regain compliance, although there is no guarantee of success.
  6. Press Release: The company issued a press release on January 18, 2025, concerning the deficiency, which is included as an exhibit in the report.
  7. Signatory Information: The report was signed by Yong Hu, the Director and Chief Executive Officer, on January 17, 2025.

This report highlights a critical compliance issue for Jianzhi Education Technology Group and outlines the steps they need to take to address it. The situation is significant for investors as it may affect the company's stock performance and long-term viability on the Nasdaq.