Smart Share Global Limited Regains Compliance with the Nasdaq Minimum Bid Price Requirement

Core Viewpoint - Smart Share Global Limited has regained compliance with Nasdaq's minimum bid price requirement, indicating a positive turnaround for the company's stock performance [1][3]. Group 1: Compliance Notification - The company received a Compliance Notification from Nasdaq on May 22, 2024, confirming it has met the minimum bid price requirement of US$1.00 per share [1][3]. - Previously, the company was notified on June 22, 2023, that it was not in compliance due to its American Depositary Shares (ADSs) closing bid price being below US$1.00 for 30 consecutive business days [2]. - The company was initially given 180 calendar days to regain compliance, which was later extended for another 180 days until June 17, 2024 [2]. Group 2: Stock Performance - Nasdaq confirmed that the closing bid price of the company's ADSs was at or above US$1.00 for ten consecutive business days from May 8, 2024, to May 21, 2024 [3]. - The matter regarding compliance is now considered closed following this confirmation [3]. Group 3: Company Overview - Smart Share Global Limited, also known as Energy Monster, is the largest provider of mobile device charging services in China, holding the number one market share [4]. - The company operates a network of power banks available in various points of interest (POIs) such as entertainment venues, restaurants, and public spaces, with 9.2 million power banks deployed across 1,234,000 POIs in over 2,000 counties as of December 31, 2023 [4].