GUANGZHOU - Top KingWin Ltd (NASDAQ:TCJH), a provider of corporate business training and consulting services, has been notified by The Nasdaq Stock Market LLC of non-compliance with the exchange's minimum bid price requirement. The company, which primarily serves entrepreneurs and executives in small and medium-sized enterprises in China, disclosed on Thursday that it received a formal notice from Nasdaq on June 7, 2024, indicating that its Class A ordinary shares had not met the minimum bid price of $1.00 for 30 consecutive business days.
The Nasdaq Listing Rule 5550(a)(2) stipulates this minimum bid price requirement, and the failure to comply with this rule has not yet affected Top KingWin's listing on the Nasdaq Capital Market. The company has been granted a 180-day period, until December 4, 2024, to regain compliance. During this period, the share price must close at $1.00 or higher for at least 10 consecutive business days.
Top KingWin stated that its business operations remain unaffected by the notice and that it is considering measures to address the issue, which may include a reverse share split of its outstanding Class A ordinary shares. The company emphasizes that it will continue to monitor its share price closely and evaluate all available options to regain compliance with Nasdaq's requirements.
Top KingWin's services include advanced training in capital markets, customized corporate consulting, and advisory and transaction services aimed at connecting businesses with capital sources. The company's mission is to support clients through all stages of their growth and development.
InvestingPro Insights
Amid concerns about Top KingWin Ltd's (NASDAQ:TCJH) compliance with Nasdaq's minimum bid price requirement, a closer look at some key financial metrics may provide investors with a deeper understanding of the company's current situation. According to InvestingPro data, Top KingWin has a market capitalization of just $7.21 million, reflecting the small size of the company within its sector. Despite a notable revenue growth of 74.65% in the last twelve months as of Q4 2023, the company's financial performance is marred by a negative P/E ratio of -2.71, indicating that it is not currently profitable.
InvestingPro Tips for TCJH reveal a significant return over the last week, with a 19.27% price total return, which could be a sign of investor optimism or a response to potential strategic measures taken by the company. However, the company's stock has experienced high price volatility historically, and the price has fallen significantly over the last year, with a staggering 94.74% drop in the one-year price total return as of the same date. These factors underscore the challenges Top KingWin faces in maintaining investor confidence and meeting Nasdaq's requirements.
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