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Zhihu | 6-K: Zhihu Announces Receipt of NYSE Notification Regarding ADS Trading Price Requirement

SEC announcement · Dec 29, 2023 00:00

ZH +1.54%

Summary by Moomoo AI

Zhihu Inc., a prominent online content community in China, has received a notification from the New York Stock Exchange (NYSE) on December 28, 2023, indicating that the company is not in compliance with the NYSE's minimum average share price requirement. The issue arises from Zhihu's American depositary shares (ADSs) trading below the required average closing price of $1.00 over a consecutive 30 trading-day period. Despite this, the ADSs will continue to be listed and traded on the NYSE, provided Zhihu meets other listing standards. The company's business operations and reporting obligations remain unaffected by this notice. Zhihu has a six-month period to rectify the price deficiency and can regain compliance if the ADSs' closing price and average price meet the minimum threshold at the end of any calendar month during this period. If compliance is not achieved by the end of the six-month period, the NYSE may initiate suspension and delisting procedures. Zhihu is currently evaluating its options to address the trading price issue and will inform the NYSE of its plans to remedy the situation within the required timeframe.

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