So-Young International Inc. announced that Nasdaq approved its request to transfer the listing of its American depositary shares (ADSs) from The Nasdaq Global Market to The Nasdaq Capital Market, effective February 27, 2025. This transfer is not expected to impact the trading of the company's ADSs, which will continue under the symbol "SY."
The company had previously received a notification on August 29, 2024, indicating non-compliance with Nasdaq Listing Rule 5450(a)(1) due to its ADS closing bid price being below US$1.00 for 30 consecutive business days. The initial compliance period was until February 24, 2025.
In conjunction with the transfer approval, Nasdaq granted So-Young an additional 180 calendar days, extending the compliance deadline to August 25, 2025. The company plans to actively monitor its ADS bid price and consider options to cure the deficiency.
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