NANJING, China - Tuniu Corporation (NASDAQ:TOUR), an online leisure travel company, disclosed on Friday that it has been notified by Nasdaq of non-compliance with its minimum bid price requirement. The notification, dated January 9, 2024, indicated that Tuniu's American depositary shares (ADSs) had closed below the $1.00 minimum bid price for 30 consecutive business days.
The company is now on a 180-day deadline, until July 8, 2024, to meet Nasdaq's bid price criteria. To regain compliance, the closing bid price of Tuniu's ADSs must reach or exceed $1.00 for at least ten consecutive business days within this period.
Tuniu stated that the Nasdaq notification does not affect the current listing or trading of its securities on the Nasdaq Global Market. The company also emphasized that its business operations remain unaffected and it intends to take appropriate measures to achieve compliance.
If Tuniu fails to meet the requirement by the initial deadline, it may be granted an additional 180-day period to regain compliance, subject to Nasdaq's discretion.
Tuniu operates as a prominent player in China’s online leisure travel market, offering a variety of packaged tours and related services to leisure travelers. The company operates both an online platform and an offline service network, including retail stores and local tour operators.
The information in this article is based on a press release statement from Tuniu Corporation.
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