BEIJING, Dec. 27,
2023 /PRNewswire/ -- Leju Holdings Limited ("Leju" or
the "Company") (NYSE: LEJU), a leading e-commerce and online media
platform for real estate and home furnishing industries in
China, today announced that it has
received a letter dated November 28,
2023 (the "Letter") from the New York Stock Exchange (the
"NYSE"), notifying the Company that it is below compliance
standards due to the Company's total market capitalization and
stockholders' equity.
Pursuant to applicable NYSE continued listing standards, a
company would be considered "below criteria" by the NYSE if its
total market capitalization is less than US$50 million over a 30 trading-day period and
its stockholders' equity is less than US$50
million. A review of the current financial condition of the
Company by the NYSE shows that, as of November 28, 2023, the Company's 30 trading-day
average market capitalization was approximately US$15.7 million and its last reported
stockholders' equity as of
June 30, 2023, was approximately
US$32.9 million. Accordingly, the
Company is now subject to the procedures as set forth in Sections
801 and 802 of the NYSE Listed Company Manual and is required to
respond within 90 days of the Letter with a business plan that
demonstrates compliance with the continued listing standard within
18 months of receipt of the Letter. The business plan will be
reviewed for final disposition by the Listings Operations Committee
of the NYSE.
To address this issue, the Company intends to comply with the
applicable procedures and is considering its options to regain
compliance.
About Leju
Leju Holdings Limited ("Leju") (NYSE: LEJU) is a leading
e-commerce and online media platform for real estate and home
furnishing industries in China,
offering real estate e-commerce, online advertising and online
listing services. Leju's integrated online platform comprises
various mobile applications along with local websites covering more
than 380 cities, enhanced by complementary offline services to
facilitate residential property transactions. In addition to the
Company's own websites, Leju operates the real estate and home
furnishing websites of SINA Corporation, and maintains a strategic
partnership with Tencent Holdings
Limited. For more information about Leju, please visit
http://ir.leju.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under 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
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Statements that are
not historical facts, including statements about Leju's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement All information provided
in this press release is as of the date of this press
release, and Leju does not undertake any obligation to update
any forward-looking statement, except as required under
applicable law.
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SOURCE Leju Holdings Limited
