Quhuo Announces Receipt of Nasdaq Notification Letters
BEIJING, May 15, 2024 /PRNewswire/ — Quhuo Limited (“Quhuo” or the “Company”) (NASDAQ: QH), a leading gig economy platform focusing on local life services in China, today announced that it received notification letters dated May 10, 2024 (the “Notification Letters”) from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the “Nasdaq”), indicating that (1) the Company is not in compliance with the minimum bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules as the closing bid price of the Company’s American depositary share (“ADS”) has been below US$1.00 per ADS for a period of 30 consecutive trading days (the “Minimum Bid Price Rule”), and (2) the Company’s minimum market value of publicly held shares (“MVPHS”) was less than $15,000,000 for the last 30 consecutive business days prior to the date of the notification letter, which does not meet the requirement for continued listing set forth in Nasdaq Listing Rule 5450(b)(1) (the “MVPHS Rule”).