#China #Financial Services #Xiamen #Lichen China #Nasdaq Compliance

Lichen China Limited Faces Nasdaq Compliance Challenge

Lichen China Limited (NASDAQ: LICN), a leading financial and taxation service provider based in China, finds itself facing compliance scrutiny as it has received a formal notification from the Nasdaq Stock Market. The notification, dated January 23, 2025, highlights that the company's ordinary shares have been trading below the required minimum bid price of $1.00 for 30 consecutive business days, an essential criterion for continued listing under Nasdaq Listing Rule 5550(a)(2).

This notice has raised concerns among investors about the company's stability and ability to maintain its listing status. However, Lichen China clarified that this notification does not currently affect the trading of its securities on Nasdaq. The firm has been granted a 180-day grace period within which it must restore its share price above the $1.00 threshold. This period extends until July 22, 2025, offering the company ample time to address the situation.

In the event that Lichen China achieves compliance within this timeframe—specifically, if its shares are priced at or above $1.00 for 10 consecutive trading days—the company will receive written confirmation from Nasdaq, effectively resolving the listing issue listed in the notification letter.

Should the company fail to regain compliance by the deadline, it may still qualify for an additional 180-day compliance period, provided it satisfies certain conditions set forth by Nasdaq listings requirements. The company has indicated that it will actively monitor its stock price and will consider various strategies to capitalize on this compliance period.

About Lichen China Limited

Founded over 18 years ago, Lichen China Limited has established itself as a prominent player in the financial and taxation service sector in the region. Its services range from comprehensive financial consulting and tax compliance to educational support and software maintenance. The company has built a solid reputation through its commitment to delivering high-quality service, cementing its place within the Chinese financial landscape.

In light of these recent developments, stakeholders are advised to remain informed about potential impacts on Lichen China’s operations and market performance. The outlook will depend on the company’s swift action and effective strategy to regain compliance with Nasdaq requirements.

Forward-Looking Statements

In closing, it is essential to note that Lichen's upcoming strategies and market activities may reflect forward-looking statements based on current expectations. Investors are encouraged to consider a multitude of factors that could influence the financial performance and operational stability of Lichen China Limited. The company emphasizes that while they strive to meet compliance expectations, actual results may vary from projections due to various external and internal influences.

For more in-depth inquiries or detailed information about Lichen China's services, stakeholders can visit the company's website or contact the management team directly.