Core Viewpoint - CNFinance Holdings Limited has received a notification from the New York Stock Exchange indicating that it is below compliance standards due to the trading price of its American depositary shares (ADSs) [1][2]. Group 1: Compliance Notification - The NYSE notified CNFinance that its ADSs' average closing price has fallen below US1.00 [2]. - If compliance is not achieved by the end of the Cure Period, the NYSE will initiate suspension and delisting procedures [2]. Group 2: Company Response - CNFinance plans to monitor market conditions for its ADSs and is considering its options to address the price deficiency [3]. - The company intends to notify the NYSE of its plan to cure the trading price deficiency within the required timeframe [3]. Group 3: Company Overview - CNFinance is a leading home equity loan service provider in China, connecting borrowers with financial institutions through various partnership models [4]. - The primary target borrower segment includes micro- and small-enterprise owners in Tier 1 and Tier 2 cities in China [4]. - The company's risk mitigation mechanisms are integrated into its loan products, focusing on both borrower and collateral risks [4].
CNFinance Holdings Limited Announces Receipt of NYSE Notification Regarding ADS Trading Price Requirement