ATA Creativity Global announced that it received a written letter from The Nasdaq Stock Market LLC dated May 9, 2025, notifying the company of non-compliance with the minimum bid price requirement. The company's American depositary shares (ADSs) had a closing bid price below US$1.00 for 30 consecutive business days.
This notification indicates a failure to meet Nasdaq Listing Rule 5450(a)(1), which requires a minimum bid price of US$1.00 per share for continued listing. The company now faces a period to regain compliance to avoid potential delisting.
The receipt of such a deficiency notice highlights concerns regarding the company's market valuation and could impact investor sentiment. The company will need to take steps to address this issue to maintain its listing on the Nasdaq Global Market.
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