Yunji Receives Approval to Transfer to Nasdaq Capital Market

Core Viewpoint - Yunji Inc. has received approval from Nasdaq to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market due to non-compliance with the minimum bid price requirement [1][2][3]. Group 1: Listing Transfer Details - The transfer of Yunji's American Depositary Shares (ADSs) to the Nasdaq Capital Market will take effect on April 5, 2024, and will not impact trading under the symbol "YJ" [1]. - The transfer was initiated after Yunji received a notice on October 5, 2023, indicating that its ADSs had been trading below US$1.00 for 30 consecutive business days [2]. - As a result of the transfer, Yunji has been granted an additional 180 days, until September 30, 2024, to regain compliance with the minimum bid price requirement [3]. Group 2: Compliance and Future Actions - To regain compliance, Yunji must ensure that the closing bid price of its ADSs meets or exceeds US$1.00 for at least 10 consecutive business days by the deadline [3]. - The company has indicated its intention to actively monitor the minimum bid price requirement and will consider options such as a reverse stock split if necessary [4]. Group 3: Company Overview - Yunji Inc. is a leading social e-commerce platform in China, utilizing a membership-based model to enhance social interactions and offer high-quality products at competitive prices [5]. - The company leverages advanced technologies like big data and artificial intelligence to optimize user experience and incentivize member engagement [5].