FLJ Group receives Nasdaq minimum bid price deficiency notice

FLJ Group has received a notice from Nasdaq stating that the company is not in compliance with the requirement to maintain a minimum bid price of $1 per share for continued listing on Nasdaq. The company intends to monitor the closing bid price of its ADSs and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding ADSs, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. The Nasdaq notice has no immediate effect on the company’s listing or on the trading of the company’s ADSs.