{"id":765655,"date":"2023-06-23T05:03:24","date_gmt":"2023-06-23T09:03:24","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/smart-share-global-limited-announces-receipt-of-minimum-bid-price-notice-from-nasdaq-2\/"},"modified":"2023-06-23T05:03:24","modified_gmt":"2023-06-23T09:03:24","slug":"smart-share-global-limited-announces-receipt-of-minimum-bid-price-notice-from-nasdaq-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/smart-share-global-limited-announces-receipt-of-minimum-bid-price-notice-from-nasdaq-2\/","title":{"rendered":"Smart Share Global Limited Announces Receipt of Minimum Bid Price Notice from Nasdaq"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">SHANGHAI, China, June  23, 2023  (GLOBE NEWSWIRE) &#8212; Smart Share Global Limited (Nasdaq: EM) (\u201cEnergy Monster\u201d or the \u201cCompany\u201d), a consumer tech company providing mobile device charging service, today announced that it has received a written notification from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC (\u201cNasdaq\u201d) dated June 22, 2023, indicating that for the last 30 consecutive business days, the closing bid price of the Company\u2019s American depositary shares (the \u201cADSs\u201d) was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1). The Nasdaq notification letter has no current effect on the listing or trading of the Company\u2019s ADSs on Nasdaq.<\/p>\n<p align=\"justify\">Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until December 19, 2023, to regain compliance under the Nasdaq Listing Rules. If at any time during the 180-day compliance period, the closing bid price of the Company\u2019s ADSs is US$1.00 per share or higher for at least ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance by December 19, 2023, subject to the determination by the staff of Nasdaq, the Company may be eligible for additional time to cure the delinquency.<\/p>\n<p align=\"justify\">The Nasdaq notification letter does not affect the Company\u2019s business operations, and the Company will take all reasonable measures to regain compliance within the prescribed grace period.<\/p>\n<p>\n        <strong>About Smart Share Global Limited <\/strong>\n      <\/p>\n<p align=\"justify\">Smart Share Global Limited (Nasdaq: EM), or Energy Monster, is a consumer tech company with the mission to energize everyday life. The Company is the largest provider of mobile device charging service in China with the number one market share. The Company provides mobile device charging service through its power banks, which are placed in POIs such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs and public spaces. Users may access the service by scanning the QR codes on Energy Monster\u2019s cabinets to release the power banks. As of March 31, 2023, the Company had 7.2 million power banks in 1,001,000 POIs across more than 1,900 counties and county-level districts in China.<\/p>\n<p>\n        <strong>Safe Harbor Statement<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains forward-looking statements. These statements are made under the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words or phrases such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;target,&#8221; &#8220;aim,&#8221; &#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;believe,&#8221; &#8220;potential,&#8221; &#8220;continue,&#8221; &#8220;is\/are likely to,&#8221; or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission (\u201cSEC\u201d), in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company\u2019s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Energy Monster\u2019s strategies; its future business development, financial condition and results of operations; the impact of technological advancements on the pricing of and demand for its services; competition in the mobile device charging service industry; Chinese governmental policies and regulations affecting the mobile device charging service industry; changes in its revenues, costs or expenditures; the risk that COVID-19 or other health risks in China or globally could adversely affect its operations or financial results; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company\u2019s 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 duty to update such information, except as required under applicable law.<\/p>\n<p>\n        <strong>Contact Us<\/strong><br \/>\n        \n      <\/p>\n<p>Investor Relations<br \/>Hansen Shi<br \/>ir@enmonster.com\u00a0<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2MzMxNSM1NjYxNTAzIzIyMDgxOTE=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/OWI1ZDhlMDMtYzZjMi00ZGY2LWFhY2YtMmZhZGMyNjRhMDVhLTEyMTk3NDQ=\/tiny\/Smart-Share-Global-Limited.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SHANGHAI, China, June 23, 2023 (GLOBE NEWSWIRE) &#8212; Smart Share Global Limited (Nasdaq: EM) (\u201cEnergy Monster\u201d or the \u201cCompany\u201d), a consumer tech company providing mobile device charging service, today announced that it has received a written notification from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC (\u201cNasdaq\u201d) dated June 22, 2023, indicating that for the last 30 consecutive business days, the closing bid price of the Company\u2019s American depositary shares (the \u201cADSs\u201d) was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1). The Nasdaq notification letter has no current effect on the listing or trading of the Company\u2019s ADSs on Nasdaq. Pursuant to the Nasdaq Listing Rule &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/smart-share-global-limited-announces-receipt-of-minimum-bid-price-notice-from-nasdaq-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Smart Share Global Limited Announces Receipt of Minimum Bid Price Notice from Nasdaq&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-765655","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Smart Share Global Limited Announces Receipt of Minimum Bid Price Notice from Nasdaq - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/smart-share-global-limited-announces-receipt-of-minimum-bid-price-notice-from-nasdaq-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Smart Share Global Limited Announces Receipt of Minimum Bid Price Notice from Nasdaq - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SHANGHAI, China, June 23, 2023 (GLOBE NEWSWIRE) &#8212; Smart Share Global Limited (Nasdaq: EM) (\u201cEnergy Monster\u201d or the \u201cCompany\u201d), a consumer tech company providing mobile device charging service, today announced that it has received a written notification from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC (\u201cNasdaq\u201d) dated June 22, 2023, indicating that for the last 30 consecutive business days, the closing bid price of the Company\u2019s American depositary shares (the \u201cADSs\u201d) was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1). The Nasdaq notification letter has no current effect on the listing or trading of the Company\u2019s ADSs on Nasdaq. 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