ZW Data Action receives Nasdaq non-compliance notice

ZW Data Action Technologies announced that it received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that due to the company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission, the company is not in compliance with Nasdaq’s continued listing requirements under Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of all required periodic reports with the SEC. The Notice has no immediate effect on the listing of the Company’s common stock on Nasdaq. Under the Nasdaq rules, the Company has 60 calendar days, or until June 17, 2024, to file the 2023 Form 10-K or to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If the Company submits a plan to Nasdaq and Nasdaq accepts the plan, Nasdaq can grant an exception of up to 180 calendar days from the filing’s due date, or until October 14, 2024, to regain compliance. If the Company fails to timely regain compliance with Nasdaq Listing Rule 5250(c)(1), the Company’s common stock will be subject to delisting from Nasdaq.