SHANGHAI, May 15, 2025 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company") today announced that it received a delisting letter dated May 13, 2025 (the "Determination Letter") from The Nasdaq Stock Market ("Nasdaq"). The Determination Letter will have no immediate impact on the trading and listing of the Company's American Depositary Shares (the "ADSs") on Nasdaq. As previously disclosed, the Company received a notice (the "Notice") from the Nasdaq dated November 13, 2024 stating that the Company is not in compliance with the requirement to maintain a minimum Market Value of Listed Securities of $35 million as set forth under Nasdaq Listing Rule 5550(b)(2) (the "MVLS Rule") for con
SHANGHAI, May 6, 2025 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company") today announced that it plans to change the ratio of the American depositary shares ("ADSs") representing its Class A ordinary shares from one (1) ADS representing one hundred and twenty (120) Class A ordinary share to one (1) ADS representing two thousand four hundred (2,400) Class A ordinary shares. For the ADS holders, the change in the ADS ratio will have the same effect as a one-for-twenty reverse ADS split. There will be no change to the Company's Class A ordinary shares. The effect of the ratio change on the ADS trading price on The Nasdaq Capital Market is expected to take place at the open of trading
SHANGHAI, April 4, 2025 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company"), today announced the acquisition of a Hong Kong-based insurance brokerage firm licensed by the Hong Kong Insurance Authority. This transaction grants the Company direct access to Hong Kong's dynamic insurance market and paves the way for the Company to launch tailored insurance solutions for clients across China and international markets. The acquisition marks a critical milestone in the Company's Asia-Pacific growth strategy. Hong Kong's insurance sector has demonstrated robust growth driven by rising demand from mainland Chinese clients and expatriates seeking international-standard wealth preservation to
SHANGHAI, Nov. 29, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company"), today announced that it has received a notice (the "Compliance Notice") from The Nasdaq Stock Market LLC ("Nasdaq") dated November 26, 2024 stating that the Company has regained compliance with the requirement to maintain a minimum bid price of $1 per share as set forth under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule") for continued listing on The Nasdaq Capital Market. As previously announced by the Company, on November 8, 2024, the Company received a notice from Nasdaq stating that the Company was not in compliance with the Bid Price Rule. With the receipt of the Compliance Notice from Nasdaq o
SHANGHAI, Nov. 15, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company"), today announced that it has received a notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") dated November 13, 2024 stating that the Company is not in compliance with the requirement to maintain a minimum Market Value of Listed Securities ("MVLS") of $35 million as set forth under Nasdaq Listing Rule for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(2) requires companies to maintain a minimum MVLS of $35 million (the "MVLS Requirement"), and Nasdaq Listing Rule 5810(c)(3)(C) specifies that a deficiency occurs if the MVLS falls below this threshold for 30 consecuti
SHANGHAI, Nov. 12, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company"), today announced that it has received a notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") dated November 8, 2024 stating that the Company is not in compliance with the requirement to maintain a minimum bid price of $1 per share as set forth under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule") for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based upon the closing bid price of the Company's American Depos
SHANGHAI, Nov. 4, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company") today announced that it plans to change the ratio of the American depositary shares ("ADSs") representing its Class A ordinary shares from one (1) ADS representing six hundred thousand (600,000) Class A ordinary share to one (1) ADS representing twelve million (12,000,000) Class A ordinary shares. For the ADS holders, the change in the ADS ratio will have the same effect as a one-for-twenty reverse ADS split. There will be no change to the Company's Class A ordinary shares. The effect of the ratio change on the ADS trading price on The Nasdaq Capital Market is expected to take place at the open of trading on
SHANGHAI, Sept. 24, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company"), today announced that on September 24, 2024, the Company entered into a Securities Purchase Agreement with VG Master Fund SPC ("VG") pursuant to which the Company may from time to time sell VG up to $25.0 million of American Depositary Shares ("ADSs") with each ADSs representing 600,000 of the Company's Class A Ordinary Shares. The timing of any such sales, are solely at the Company's option, and the Company is under no obligation to sell any securities to VG under the Purchase Agreement. The offering and sale of the ADSs by the Company to VG pursuant to the Purchase Agreement has been registered pursuant
SHANGHAI, Aug. 15, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company"), today announced that it received two letters, dated August 12 and 14, 2024, respectively, from The Nasdaq Stock Market ("Nasdaq") notifying the Company that it had regained compliance with the requirement to maintain a minimum bid price of $1 per share as set forth under Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Market (the "Bid Price Rule"). As previously announced by the Company via a press release on April 9, 2024, the Company received a notice from Nasdaq dated April 3, 2024, stating that the Company was not in compliance with the Bid Price Rule. However, Nasdaq Listing
SHANGHAI, July 11, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company"), today announced that on July 3, 2024, the Company received a letter (the "Panel Decision Letter") from The Nasdaq Stock Market LLC ("Nasdaq") informing that the Nasdaq Hearings Panel (the "Panel") has determined to grant the Company's request to transfer its listing from The Nasdaq Global Market to The Nasdaq Capital Market, and further, to grant the Company an extension of time to remain listed on The Nasdaq Capital Market through August 31, 2024, subject to the condition that on or before August 14, 2024, the Company will demonstrate compliance with Nasdaq Listing Rule 5450(a)(1) by evidencing a closing b
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SHANGHAI, April 4, 2025 /PRNewswire/ -- XChange TEC.INC (NASDAQ:XHG) (the "Company"), today announced the acquisition of a Hong Kong-based insurance brokerage firm licensed by the Hong Kong Insurance Authority. This transaction grants the Company direct access to Hong Kong's dynamic insurance market and paves the way for the Company to launch tailored insurance solutions for clients across China and international markets. The acquisition marks a critical milestone in the Company's Asia-Pacific growth strategy. Hong Kong's insurance sector has demonstrated robust growth driven by rising demand from mainland Chinese clients and expatriates seeking international-standard wealth preservation to
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