Lixiang Education regains Nasdaq compliance

Lixiang Education Holding Co. announced that on October 14, 2024, it received a letter from the Listing Qualification Department of Nasdaq Stock Market notifying the company that “for the last 10 consecutive business days, from September 30 to October 11, 2024, the closing bid price of the Company’s American Depositary Shares has been at $1.00 per share or greater. Accordingly, the company has regained compliance with Listing Rule 5450(a)(1), and this matter is now closed.” On May 7, 2024, the company was notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for more than 30 consecutive trading days under Nasdaq Listing Rule 5450(a)(1), and was given a compliance period of 180 calendar days, or until November 4, 2024 to regain compliance. Effective September 30, 2024, the Company effected a 1-for-10 reverse stock split.