- CNFinance Holdings (CNF, Financial) has received a non-compliance notification from the NYSE due to its ADS trading below $1.00.
- The company has a six-month cure period to meet the compliance requirements.
- This notification does not impact the current business operations or SEC reporting obligations of CNFinance.
CNFinance Holdings Limited (CNF), a Chinese home equity loan service provider, recently announced that it has received a non-compliance notice from the New York Stock Exchange (NYSE). The notification, dated April 7, 2025, indicates that the company's American depositary shares (ADSs) have been trading below the minimum required threshold of $1.00 over a consecutive 30-day period.
To address this issue, CNFinance has been granted a six-month cure period, during which it must ensure that both the closing price and 30-day average closing price of its ADSs reach at least $1.00. Failure to achieve this by the deadline will lead to the NYSE initiating suspension and delisting procedures.
Despite this challenge, CNFinance's listing status remains unchanged, and the company's business operations, SEC reporting, and contractual obligations are not affected by the notice. The company continues to explore options to restore compliance, including potential strategies like a reverse stock split or improving financial performance to attract investor interest.
Currently, CNFinance's ADSs are trading at $0.704, requiring a price increase of approximately 42% to meet the compliance criteria within the specified timeframe, which extends until early October 2025.
