SHANGHAI, China, Oct. 10, 2022 (GLOBE NEWSWIRE) — Smart Share Global Limited (Nasdaq: EM) (“Energy Monster” or the “Company”), a client tech firm offering cellular gadget charging service, right this moment introduced that it has obtained a written notification from the workers of the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) dated October 7, 2022, indicating that for the final 30 consecutive business days, the closing bid worth of the Company’s American depositary shares (the “ADSs”) was under the minimal bid worth of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1). The Nasdaq notification letter has no present impact on the itemizing or buying and selling of the Company’s ADSs on Nasdaq.
Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company is supplied with a compliance interval of 180 calendar days, or till April 5, 2023, to regain compliance beneath the Nasdaq Listing Rules. If at any time through the 180-day compliance interval, the closing bid worth of the Company’s ADSs is US$1.00 per share or increased for no less than ten consecutive business days, Nasdaq will present the Company written affirmation of compliance and the matter will likely be closed. In the occasion the Company doesn’t regain compliance by April 5, 2023, topic to the dedication by the workers of Nasdaq, the Company could also be eligible for a further 180-day compliance interval.
The Nasdaq notification letter doesn’t have an effect on the Company’s business operations, and the Company will take all cheap measures to regain compliance throughout the prescribed grace interval.
About Smart Share Global Limited
Smart Share Global Limited (Nasdaq: EM), or Energy Monster, is a client tech firm with the mission to energise on a regular basis life. The firm is the most important supplier of cellular gadget charging service in China with the primary market share. The firm offers cellular gadget charging service via its energy banks, that are positioned in POIs corresponding to leisure venues, eating places, purchasing facilities, accommodations, transportation hubs and public areas. Users could entry the service by scanning the QR codes on Energy Monster’s cupboards to launch the facility banks. As of June 30, 2022, the corporate had 6.0 million energy banks in 895,000 POIs throughout greater than 1,800 counties and county-level districts in China.
Safe Harbor Statement
This press launch accommodates forward-looking statements. These statements are made beneath the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some instances, forward-looking statements could be recognized by phrases or phrases corresponding to “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or different comparable expressions. Among different issues, sure statements on this announcement, in addition to the Company’s strategic plans, comprise forward-looking statements. The Company may make written or oral forward-looking statements in its reviews filed with, or furnished to, the U.S. Securities and Exchange Commission (“SEC”), in its annual reviews to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic info, together with statements in regards to the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties, and a quantity of components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: Energy Monster’s methods; its future business improvement, monetary situation and outcomes of operations; the affect of technological developments on the pricing of and demand for its companies; competitors within the cellular gadget charging service trade; Chinese governmental insurance policies and laws affecting the cellular gadget charging service trade; adjustments in its revenues, prices or expenditures; the danger that COVID-19 or different well being dangers in China or globally might adversely have an effect on its operations or monetary outcomes; common financial and business circumstances globally and in China and assumptions underlying or associated to any of the foregoing. Further info relating to these and different dangers, uncertainties or components is included within the Company’s filings with the SEC. All info offered on this press launch is as of the date of this press launch, and the Company doesn’t undertake any responsibility to replace such info, besides as required beneath relevant legislation.
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