Hywin Holdings Receives Nasdaq Non-Compliance Notice

TL;DR

Nasdaq sent Hywin a warning letter; they have 180 days to fix it or get delisted.

AI Summary

Hywin Holdings Ltd. received a notification letter from Nasdaq on June 6, 2024, indicating non-compliance with listing rules. The company has 180 days to regain compliance.

Why It Matters

This notification could impact Hywin's stock liquidity and investor confidence if compliance is not regained within the specified timeframe.

Risk Assessment

Risk Level: medium — Receiving a non-compliance notice from a major exchange like Nasdaq introduces uncertainty and potential delisting risk.

Key Numbers

• 180 days — Compliance Period (Timeframe granted by Nasdaq to regain compliance)

Key Players & Entities

• Hywin Holdings Ltd. (company) — Registrant
• Nasdaq (company) — Stock Exchange
• June 6, 2024 (date) — Date of notification

FAQ

Key Financial Figures

• $15,000,000 — s as the Company's MVPHS has been below $15,000,000 for a period of 30 consecutive trading
• $5,000 — n on-line transfer application, pay the $5,000 application fee and meet the Nasdaq Cap

Filing Documents

• tm2416499d1_6k.htm (6-K) — 17KB
• 0001104659-24-068808.txt ( ) — 18KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of June 2024 Commission File Number: 001-40238 HYWIN HOLDINGS LTD. F3, Hywin Financial Centre, 8 Yincheng Mid. Road, Pudong New District, Shanghai, People’s Republic of China, 200120 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F þ Form 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Hywin Holdings Announces Receipt of Notification from Nasdaq On June 6, 2024 Beijing Time, the registrant announced that it has received a notification letter dated June 4, 2024 (the "Notice") from the staff of the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the "Nasdaq"), indicating that the Company is not in compliance with the minimum Market Value of Publicly Held Shares (“MVPHS”) requirement as set forth in Rule 5450(b)(3)(C) of the Nasdaq Listing Rules as the Company's MVPHS has been below $15,000,000 for a period of 30 consecutive trading days. The Notification Letter is only a notification of deficiency and not a notice of delisting. The Notice has no immediate effect on the listing or trading of the Company’s American depositary shares on Nasdaq. Pursuant to Rule 5810(c)(3)(D) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until December 2, 2024 (the "Compliance Period"), to regain compliance with the minimum MVPHS requirement. If at any time during the Compliance Period, the Company's MVPHS is as least $15,000,000 for a minimum of 10 consecutive trading days, Nasdaq will provide the Company a written confirmation of compliance with the minimum MVPHS requirement, and the matter will be closed. In the event the Company does not regain compliance with the minimum MVPHS requirement by December 2, 2024, subject to the determination by the staff of Nasdaq, the Company will receive written notification that its securities are subject to delisting. In the event of such notification, the Company may appeal Nasdaq's determination to delist its securities, but there can be no assurance Nasdaq would grant the Company's request for continued listing. Alternatively, the Company may consider applying to transfer the Company's securities to the Nasdaq Capital Market before the expiry of the Compliance Period. In order to transfer, the Company must submit an on-line transfer application, pay the $5,000 application fee and meet the Nasdaq Capital Market's continued listing requirements. The Company intends to monitor its market value between now and December 2, 2024 and is evaluating various options available to regain compliance and maintain its continued listing. The Notice does not affect the Company's business operations, its U.S. Securities and Exchange Commission reporting requirements or contractual obligations, and the Company will take all reasonable measures to regain compliance within the prescribed Compliance Period. About Hywin Holdings Ltd. Hywin (NASDAQ: HYW) is a leading independent wealth and health management service provider in China focusing on providing asset allocation advisory services and comprehensive financial products to high-net-worth clients. The Company’s primary services are insurance brokerage services, health management services, overseas wealth and asset management services, and other wealth management services. The Company offers insurance brokerage services through collaborations with leading insurance companies in Hong Kong and globally. The Company also offers integrated and high-end health screening and health management services to high-net-worth clients in China, and aims to serve clients across market cycles and life cycles. For more information, please visit https://ir.hywinwealth.com/ . Safe Harbor Statement This press release contains statements that may constitute “forward-looking” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's

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View this 6-K filing on SEC EDGAR