HYW Hywin Holdings Ltd

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2024

Commission File Number: 001-40238

 

 

HYWIN HOLDINGS LTD.

 

 

F3, Hywin Financial Centre, 8 Yincheng Mid. Road, Pudong New District,

Shanghai, People’s Republic of China, 200120

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F þ Form 40-F ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

 

 

 

Hywin Holdings Announces Receipt of Notification from Nasdaq

 

On May 30, 2024 Beijing Time, the registrant announced receipt of a notification letter from The Nasdaq Stock Market Inc. (the “Nasdaq”) indicating that the registrant is not in compliance with the minimum bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules as the closing bid price of the registrant’s American depositary shares ("ADSs") has been below US$1.00 per ADS for a period of 30 consecutive trading days. A copy of the press release issued by the registrant regarding the foregoing is filed herewith as Exhibit 99.1 and is incorporated herein by reference.

 

 

Exhibits

 

99.1

Press release dated May 30, 2024.

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	Hywin Holdings Ltd.
	By:	/s/ Lawrence Lok
	Name:	Lawrence Lok
	Title:	Chief Financial Officer

 

Date: May 30, 2024 Beijing Time

 

 

 

Exhibit 99.1

 

Hywin Holdings Announces Receipt of Notification from Nasdaq

 

SHANGHAI, China, May 30, 2024 (GLOBE NEWSWIRE) -- Hywin Holdings Ltd. (“Hywin”, or the “Company”) (NASDAQ: HYW) today announced that it has received a notification letter dated May 28, 2024 (the "Notice") from the staff of the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the "Nasdaq"), indicating that the Company is not in compliance with the minimum bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules as the closing bid price of the Company's American depositary shares ("ADSs") has been below US$1.00 per ADS for a period of 30 consecutive trading days. The Notice has no immediate effect on the listing or trading of the Company’s ADSs on Nasdaq.

 

Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until November 25, 2024 (the "Compliance Period"), to regain compliance with the minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per ADS is at least US$1.00 for a minimum of 10 consecutive trading days, Nasdaq will provide the Company a written confirmation of compliance with the minimum bid price requirement, and the matter will be closed.

 

In the event the Company does not regain compliance by November 25, 2024, subject to the determination by the staff of Nasdaq, the Company may be eligible for an additional 180-day compliance period if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the minimum bid price requirement. In this case, the Company will need to provide a written notice of its intention to cure the deficiency during the second compliance period, including by effecting a reverse stock split, if necessary.

 

The Notice does not affect the Company's business operations, its U.S. Securities and Exchange Commission reporting requirements or contractual obligations, and the Company will take all reasonable measures to regain compliance within the prescribed Compliance Period.

 

About Hywin Holdings Ltd.

 

Hywin (NASDAQ: HYW) is a leading independent wealth and health management service provider in China focusing on providing asset allocation advisory services and comprehensive financial products to high-net-worth clients. The Company’s primary services are insurance brokerage services, health management services, overseas wealth and asset management services, and other wealth management services. The Company offers insurance brokerage services through collaborations with leading insurance companies in Hong Kong and globally. The Company also offers integrated and high-end health screening and health management services to high-net-worth clients in China, and aims to serve clients across market cycles and life cycles. For more information, please visit https://ir.hywinwealth.com/.

 

 

Safe Harbor Statement

 

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipate,” “estimate,” “forecast,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

 

Investor Contact:

Hywin Holdings Ltd.

Email: ir@hywinwealth.com

 

Media Contact:

ICR, LLC

Edmond Lococo

Phone: +86 138-1079-1408

Email: HywinPR@icrinc.com

 

 

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