Yunji Inc., a membership-based social e-commerce platform, has received a written notification from Nasdaq stating that it no longer meets the minimum bid price requirement. The company has a grace period of 180 days to regain compliance by maintaining a closing bid price of at least $1.00 per share for ten consecutive business days. Yunji intends to monitor the closing bid price and explore options to regain compliance within the prescribed grace period.
Yunji Inc. is a leading social e-commerce platform in China that operates on a unique membership-based model. The platform offers a wide range of high-quality products at competitive prices, catering to the everyday needs of Chinese consumers. By utilizing advanced technologies such as big data and artificial intelligence, Yunji optimizes user experience and incentivizes members to promote the platform and share products with their social contacts. With its curated product selection, centralized merchandise sourcing, and efficient supply chain management, Yunji has established itself as a trusted e-commerce platform with exclusive membership benefits.
For more information about Yunji Inc., please visit their website at https://investor.yunjiglobal.com/.
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements involve inherent risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Factors that could contribute to these differences include Yunji's growth strategies, business development, and financial condition, as well as market trends and competition in China's e-commerce industry. Yunji undertakes no obligation to update any forward-looking statements, except as required by law.
For investor relations inquiries, please contact Yunji Inc. at Yunji.IR@icrinc.com or +1 (646) 224-6957. Alternatively, you can reach out to Robin Yang at ICR, LLC via email at Yunji.IR@icrinc.com or by phone at +1 (646) 224-6957.