Jianzhi Education Technology Group Company Limited Receives Notification from Nasdaq Regarding Delayed Form 20-F Filing
May 22 2023 - 4:30PM
Jianzhi Education Technology Group Company Limited (the “Company”
or “Jianzhi”) (NASDAQ: JZ), a leading provider of digital
educational content in China, today announced that it received
a notice (the “Notice”) from the Listing Qualifications Department
of the Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company
is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it
had not timely filed its Annual Report on Form 20-F for the fiscal
year ended December 31, 2022 (the “2022 Annual Report”) with the
U.S. Securities and Exchange Commission (the “SEC”). Nasdaq Listing
Rule 5250(c)(1) requires listed companies to timely file all
required public financial reports with the SEC.
The Notice provides that the Company has until July 17, 2023 to
submit to Nasdaq a plan to regain compliance with the Nasdaq
Listing Rules. If Nasdaq accepts the Company’s plan, then Nasdaq
may grant the Company an exception of up to 180 calendar days from
the due date of the 2022 Annual Report, or until November 13, 2023,
to regain compliance. If Nasdaq does not accept the Company’s plan,
then the Company would have the opportunity to appeal that decision
to a Nasdaq hearings panel. The Notice has no immediate impact on
the listing of the Company’s securities on Nasdaq.
As previously reported by the Company in its Notification of
Late Filing on Form 12b-25, filed with the SEC on April 27, 2023,
the Company was unable, without unreasonable effort or expense, to
file its 2022 Annual Report within the prescribed period. The
Company is working diligently to complete the 2022 Annual Report as
soon as practicable. The Company intends to submit to Nasdaq a plan
to regain compliance on or before July 17, 2023 as required by the
Notice.
About Jianzhi Education Technology Group
Company Limited
Headquartered in Beijing and established in 2011, Jianzhi is a
leading provider of digital educational content in China and has
been committed to developing educational content to fulfill the
massive demand for high-quality, professional development training
resources in China. Jianzhi started operations by providing
educational content products and IT services to higher education
institutions. Jianzhi also provides products to individual
customers. Leveraging its strong capabilities in developing
proprietary professional development training content and success
in consolidating educational content resources within the industry,
Jianzhi has successfully built up a comprehensive,
multi-dimensional digital educational content database which offers
a wide range of professional development products. Jianzhi embed
proprietary digital education content into the self-developed
online learning platforms, which are provided to a wide range of
customers through its omni-channel sales system. Jianzhi is also
fully committed to the digitalization and informatization of the
education sector in China. For more information, please visit:
www.jianzhi-jiaoyu.com.
Safe Harbor Statement
This press release (the “Press Release”) contains statements
that may constitute “forward-looking” statements pursuant to the
“safe harbor” provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as “will,” “expects,” “anticipates,”
“aims,” “future,” “intends,” “plans,” “believes,” “estimates,”
“likely to,” 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 filings with the SEC. All information
provided in this Press Release is as of the date of this Press
Release, and the Company does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor and media inquiries, please
contact:
Janice Wang
Wealth Financial Services LLC
Phone: +86 13811768559
+1 628 283 9214
Email: services@wealthfsllc.com
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