BEIJING, Dec. 13, 2019 /PRNewswire/ -- Bat Group, Inc.
(Nasdaq: GLG) (the "Company"), is pleased to announce that
it has regained compliance with Nasdaq's minimum bid price
requirement.
On December 11, 2019, the Company
received a written notification from the Nasdaq Stock Market
Listing Qualifications Staff, indicating that the Company has
regained compliance with the bid price requirement for continued
listing on the Nasdaq Capital Market pursuant to Nasdaq Listing
Rule 5550(a)(2) based on the closing bid price of the Company's
common stock being at $1.00 per share
or greater for 10 consecutive business days from November 26 to December 10, 2019.
As disclosed in the Company's Current Report on Form 8-K filed
on November 26, 2019, the Company
entered into a set of variable interest entity agreements with
Huamucheng Trading Co., Ltd. and its shareholders on November 22, 2019. The Company plans to
start a bulk commodity trading business via Huamucheng. The Company
expects that the new business will help increase its revenue and
enhance earnings. "We plan to put more resources into the new bulk
commodity trading business if it shows satisfactory performance,"
said COO, Renmei Ouyang.
About Bat Group, Inc.
Bat Group, Inc. (Nasdaq: GLG) is an emerging used luxurious car
rental service provider in China.
The used luxurious car business is conducted under the brand name
"BatCar" by the Company's VIE entity, Tianxing Kunlun Technology
Co. Ltd, from its headquarters in Beijing. Utilizing a streamlined, digital,
transaction process, the Company endeavors to provide the best
possible rental experience for its customers. For more information
please visit https://www.imbatcar.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of Bat Group, Inc. and its
subsidiary companies. All statements, other than statements of
historical fact included herein are "forward-looking statements."
These forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company's actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that
are filed with the Securities and Exchange Commission and available
on its website at http://www.sec.gov. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
For more information, please contact:
Email: ir@imbatcar.com
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SOURCE Bat Group, Inc.