Summary by Moomoo AI
XChange TEC.INC, operating under the stock name FLJ Group, has received a deficiency notice from Nasdaq on November 8, 2024, for failing to meet the minimum bid price requirement of $1 per share over a period of 30 consecutive business days. The company, which is involved in insurance agency and insurance technology businesses in the PRC, is not eligible for the standard 180-day compliance period to rectify the bid price deficiency due to previous reverse stock splits. XChange TEC.INC plans to request a hearing before a Nasdaq Hearings Panel to avoid suspension or delisting, with no guarantee of the outcome. The company's non-compliance with Nasdaq's Listing Rule 5550(a)(2) poses a significant risk to its continued listing on The Nasdaq Capital Market.
