XIAMEN, China, Feb. 10, 2022 /PRNewswire/ -- Qudian
Inc. ("Qudian" or the "Company") (NYSE: QD), a leading
technology platform empowering the enhancement of the online
consumer finance experience in China, today announced that it
has received a letter from the New York Stock
Exchange (the "NYSE") dated February 7,
2022, notifying the Company that it is below the NYSE's
continued listing standards due to the trading price of Qudian's
American depositary shares (the "ADSs").
Pursuant to Section 802.01C of the NYSE's Listed Company Manual,
a company will be considered to be below compliance standards if
the average closing price of its security as reported on the
consolidated tape is less than US$1.00 over a consecutive
30 trading-day period. The Company has six months ("the Cure
Period") following receipt of the notice to regain compliance with
the minimum share price requirement. The Company can regain
compliance at any time during the Cure Period if on the last
trading day of any calendar month during the Cure Period the
Company has a closing share price of at least US$1.00 per
ADS and an average closing share price of at
least US$1.00 per ADS over the 30 trading-day period
ending on the last trading day of that month. In the event that at
the expiration of the six-month Cure Period, both a US$1.00
per ADS closing share price on the last trading day of the
Cure Period and a US$1.00 per ADS average closing share
price over the 30 trading-day period ending on the last trading day
of the Cure Period are not attained, the NYSE will commence
suspension and delisting procedures.
To address this issue, the Company intends to monitor the market
conditions of its listed securities and is still considering its
options. The Company has notified the NYSE on February 10,
2022 of its intent to cure the deficiency. During the Cure
Period, the Company's ADSs will continue to be listed and traded on
the NYSE, subject to its compliance with other NYSE continued
listing standards and other rights of the NYSE to delist the ADSs.
The NYSE notification does not affect the Company's business
operations, its U.S. Securities and Exchange
Commission reporting requirements or contractual
obligations.
About Qudian Inc.
Qudian Inc. ("Qudian") is a leading technology platform
empowering the enhancement of online consumer finance experience
in China. The Company's mission is to use technology to make
personalized credit accessible to hundreds of millions of young,
mobile-active consumers in China who need access to small
credit for their discretionary spending but are underserved by
traditional financial institutions due to lack of traditional
credit data or high cost of servicing. Qudian's credit
solutions enable licensed, regulated financial institutions and
ecosystem partners to offer affordable and customized loans to this
young generation of consumers.
For more information, please
visit http://ir.qudian.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States 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. Among
other things, the expectation of its collection efficiency and
delinquency contains forward-looking
statements. Qudian may also make written or oral
forward-looking statements in its periodic reports to the SEC,
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements
about Qudian'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, including but not limited to the
following: Qudian's goal and
strategies; Qudian's expansion
plans; Qudian's future business development, financial
condition and results of
operations; Qudian's expectations regarding demand for,
and market acceptance of, its credit
products; Qudian's expectations regarding keeping and
strengthening its relationships with borrowers, institutional
funding partners, merchandise suppliers and other parties it
collaborates with; general economic and business conditions; and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks is included
in Qudian's filings with the SEC. All information
provided in this press release and in the attachments is as of the
date of this press release, and Qudian does not undertake
any obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
In China:
Qudian Inc.
Tel: +86-592-596-8208
E-mail: ir@qudian.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: qudian@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: qudian@tpg-ir.com
View original
content:https://www.prnewswire.com/news-releases/qudian-inc-receives-notice-regarding-nyse-continued-listing-standards-301479503.html
SOURCE Qudian Inc.