PANews reported on May 17 that Canaan Creative announced it received a written notice from NASDAQ on May 13, indicating that the company is not in compliance with NASDAQ Listing Rule 5550(a)(2) because the closing price of its American Depositary Shares ("ADS") has been below $1.00 per share for the previous 30 consecutive trading days. The NASDAQ notice does not have a direct impact on the listing or trading of the company’s securities on NASDAQ.
According to NASDAQ Listing Rule 5810(c)(3)(A), the company is permitted to regain compliance with the minimum bid price requirement within a compliance period of 180 calendar days (i.e., by November 12, 2025). To regain compliance, the closing price of the company's American Depositary Receipts must be at least $1.00 per share for at least 10 consecutive trading days during the 180 calendar day compliance period.
If the company fails to regain compliance by November 10, 2025, and NASDAQ staff determines that the company may be eligible for an additional 180 calendar days of compliance, the company must meet the continued listing requirements (public float market value) as well as all other initial listing standards of NASDAQ Capital Markets (excluding the minimum bid price requirement) and must notify in writing its intent to remedy the deficiencies during the second compliance period. If the company fails to regain compliance within the specified compliance period (including any extensions that NASDAQ may grant), NASDAQ will issue a notification informing the company that its American Depositary Receipts will be delisted.