Compliance & Regulation

China Finance Online Receives Extension for Regaining Compliance with Nasdaq Minimum Stockholders' Equity Requirement

China Finance Online Co. Limited, a web-based financial services company that provides Chinese individual investors with FinTech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, has announced that it has received a notice from the Nasdaq Stock Market LLC stating that the Nasdaq Hearings Panel granted the Company's request to phase down to The Nasdaq Capital Market.

The Panel also granted the Company until January 14, 2022 to evidence compliance with the minimum USD2.5 million stockholders' equity requirement, or the alternative compliance standards as set forth in Nasdaq Listing Rule 5550(b)(1), China Finance Online said in a press release.

As previously announced, the Company was notified in May 2021 that it was not in compliance with the shareholders' equity requirement of Listing Rule 5450(b)(1)(A) and received a delisting notice in August 2021.

The Panel's decision follows the hearing that took place in September 2021, at which time our management presented the Panel with a plan for regaining and sustaining compliance with the minimum stockholders' equity requirement. This notification has no immediate effect on the Company's listing or on the trading of the Company's ADSs.