HONG KONG, Nov. 25, 2024 — Santech Holdings Limited (NASDAQ: STEC) announced today that Nasdaq Stock Market LLC issued a notification on November 21, 2024, citing the company’s failure to timely file its Form 20-F annual report for the fiscal year ending June 30, 2024, as a violation of Nasdaq Listing Rule 5250(c)(1). This non-compliance does not immediately impact the listing or trading of the company’s American depositary shares on Nasdaq.
Nasdaq rules allow Santech 60 calendar days to submit a remediation plan. If approved, the company would receive an extension of up to 180 calendar days from the Form 20-F due date, or until May 14, 2024, to achieve compliance.
Santech is collaborating with its advisors to prepare either the Form 20-F filing or the compliance plan, aiming for submission within the Nasdaq-mandated timeframe.
About Santech Holdings Limited
Santech Holdings Limited (NASDAQ: STEC) is a consumer technology company. Historically serving numerous high-net-worth clients in China’s financial services and health management sectors, the company has since divested from these areas and is exploring new technology ventures, including new retail, social e-commerce, and metaverse initiatives. For more details, visit https://ir.santechholdings.com.
Safe Harbor Statement
This release includes forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. Such statements, identifiable by terms like “anticipate,” “estimate,” “plan,” “project,” “potential,” “continue,” “expect,” “believe,” “intend,” “may,” “should,” “will,” and similar expressions, are not historical facts. Forward-looking statements involve inherent risks and uncertainties. See the company’s SEC filings for further details on these risks. All information here is current as of today’s date; the company is not obligated to update any forward-looking statements unless legally required.
Investor Contact:
Santech Holdings Limited
Email:
Media Contact:
ICR, LLC
Edmond Lococo
Phone: +86 138-1079-1408
Email:
