BEIJING, Dec. 29,
2023 /PRNewswire/ -- Zhihu Inc. (NYSE: ZH; HKEX:
2390) ("Zhihu" or the "Company"), a
leading online content community in China, today announced that it has received a
letter from the New York Stock Exchange (the "NYSE") dated
December 28, 2023, notifying the
Company that it is below compliance standards due to the trading
price of Zhihu's American depositary shares (the "ADSs"). The
notice has no immediate impact on the listing of the Company's
ADSs, which will continue to be listed and traded on the NYSE,
subject to the Company's compliance with other listing standards
and other rights of the NYSE to delist the ADSs. The NYSE
notification does not affect the Company's business operations, its
U.S. Securities and Exchange Commission reporting requirements, or
contractual obligations.
Pursuant to Section 802.01C of the NYSE Listed Company Manual, a
company will be considered to be below compliance standards if the
average closing price of its security as reported on the
consolidated tape is less than US$1.00 over a consecutive 30 trading-day period.
Once notified by the NYSE, the Company must bring its security
price and average security price back above US$1.00 by six months (the "Cure Period")
following receipt of the notification. The Company can regain
compliance at any time during the Cure Period if on the last
trading day of any calendar month during the Cure Period the
Company's ADSs have a closing price of at least US$1.00 per ADS and an average closing price of
at least US$1.00 per ADS over the 30
trading-day period ending on the last trading day of that month. In
the event that at the expiration of the Cure Period, both a
US$1.00 per ADS closing price on the
last trading day of the Cure Period and a US$1.00 per ADS average closing price over the 30
trading-day period ending on the last trading day of the Cure
Period are not attained, the NYSE will commence suspension and
delisting procedures.
To address this issue, Zhihu intends to monitor the market
conditions of its listed ADSs and is considering its options. As
required by the NYSE Listed Company Manual, the Company expects to
notify the NYSE of its intent to cure its ADS trading price
deficiency within the applicable time period required by the
NYSE.
About Zhihu Inc.
Zhihu Inc. (NYSE: ZH; HKEX: 2390) is a leading online content community in
China where people come to find
solutions, make decisions, seek inspiration, and have fun. Since
the initial launch in 2010, we have grown from a Q&A community
into one of the top comprehensive online content communities and
the largest Q&A-inspired online content community
in China. For more information, please
visit https://ir.zhihu.com.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to," or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the SEC and the Stock Exchange of Hong Kong Limited.
All information provided in this press release is as of the date of
this press release, and the Company does not undertake any duty to
update such information, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Zhihu Inc.
Email: ir@zhihu.com
Piacente Financial Communications
Helen Wu
Tel: +86 (10) 6508-0677
Email: zhihu@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1 (212) 481-2050
Email: zhihu@tpg-ir.com
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SOURCE Zhihu Inc.