Lixiang Education Regains Compliance with Nasdaq Requirement on Minimum Market Value of Publicly Held Shares
LISHUI, China, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Lixiang Education Holding Co., Ltd. (the 'Company' or NASDAQ: LXEH), a prestigious private education service provider in China, today announced that on February 27, 2025, it received a letter from the Listing Qualification Department of Nasdaq Stock Market LLC (the 'Nasdaq') notifying the Company that it had regained compliance with the minimum market value of publicly held shares ('MVPHS') as required by The Nasdaq Global Market set forth in Listing Rule 5450(b)(1)(C) (the 'Rule').
On August 29, 2024, the Company was notified by Nasdaq of its failure to maintain a MVPHS of $5,000,000 over the previous 30 consecutive business days as required under the Rule, and was given a compliance period of 180 calendar days, or until February 25, 2025 to regain compliance. The staff of Nasdaq has determined that 'for the last 16 consecutive business days, from February 4 to February 25, 2025, the Company's MVPHS has been $5,000,000 or greater. Accordingly, the Company has regained compliance with the Rule and this matter is now closed.'
About Lixiang Education Holding Co., Ltd.
Founded in Lishui City, China, Lixiang Education Holding Co., Ltd. is a prestigious private education service provider in Zhejiang Province. The Company's education philosophy is to guide the healthy development of students and to establish a solid foundation for their lifelong advancement and happiness. For more information, please visit: www.lixiangeh.com.
Safe Harbor Statement
This 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. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the 'SEC'), in its annual report 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's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. 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: the Company's strategies, future business development, and financial condition and results of operations; the expected growth of the Chinese private education market; Chinese governmental policies relating to private educational services and providers of such services; the Company's ability to maintain and enhance its brand. 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
37 minutes ago
- Yahoo
China's Rare Earths Weapon Could Kill Europe's Auto Industry
China earlier this year introduced restrictions on its exports of rare earths. The move marked a new stage in the US- China trade spat, when the two sides no longer tried to out-tariff each other but took to more concrete steps. The problem is, the restrictions don't just apply to U.S. companies. And they may well deliver the fatal blow to Europe's struggling auto industry. China controls 90% of the world's rare earths processing capacity. It is the indisputable, if not exactly celebrated in the West, master of the rare earths industry. And now, it is using this position to make a point to trade partners that have gone above and beyond to restrict Chinese exports to their own countries and regions—essentially the same thing that Washington does when it uses the dominance of the dollar to sanction governments it doesn't see eye to eye with. Rare earths are used in a perhaps surprisingly wide variety of products. More specifically, it's rare-earth magnets that are troubling carmakers on both sides of the ocean. 'Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras,' the Alliance for Automotive Innovation, an industry body, wrote in a letter addressed to the Trump administration in early May. The letter, cited by Reuters in a recent report on the rare earths restrictions, is one of what looks like a cry for help that is only going to get louder. It was signed by auto industry leaders including Toyota, Volkswagen, and General Motors, which thanked the administration for trying to resolve the issue. If they didn't, the carmakers said, it would be only a matter of time before car factories started shutting same is happening in Europe, and it's worse—because with Trump, U.S. carmakers no longer have to worry about EVs. With the current European parliament and the Commission, local carmakers do have to worry about EVs, a lot. Because EVs feature greater amounts of those rare earths than internal combustion engine cars. And European carmakers have been mandated with the production and sale of certain minimum numbers of these EVs over the next three years. 'I informed my Chinese counterpart about the alarming situation in the EU car industry — the rare earth and permanent magnets are essential for industrial production… this is extremely disruptive for industry,' the European Union's trade commissioner, Maros Sefcovic, said this week, as quoted by the Financial Times. He added that the 'Carmakers are warning of huge production difficulties in a short period of time.' The clock, in other words, is ticking and China does not really seem in a hurry to stop it. The restrictions that Beijing implemented in mid-April are not literal—or direct. They are in the form of a new licensing regime for anyone who wants to buy rare earth magnets from Chinese producers. To do that, the prospective buyer needs to apply for a license, provide a substantial amount of information, and wait. As a Bosch spokesperson described it, the application process was 'complex and time-consuming, partly due to the need to collect and provide a lot of information.' Because of this complexity, only a few car parts suppliers have been granted such licenses, making the car companies' freak-out only a matter of time, really. But this is coming at a really bad time for European carmakers, despite the substantial rise in EV sales. They are still to turn in a solid profit on their electric cars and they are supposed to be making ever more of these—which means a lot more rare earths. Things are not that swell in the United States, either, after President Donald Trump accused the Chinese of violating a deal the two earlier agreed, on the temporary relaxation of trade warfare, including tariffs and other trade restrictions—only to be slapped back with the accusation that he did that first, by restricting semiconductor exports. Things are not looking good for the car industry right now but there is, as always, a silver lining. It consists in the fact that the world is entirely dependent on a single source of rare earths and this is not a sustainable or secure state of affairs. There has been a lot of talk in both Europe and the United States about building their own supply chains in such critical materials but action has not really been forthcoming. Even if it was, building a supply chain from scratch takes many years—just ask China. Yet the rare earths drama may boost Europe's resolve to actually start working on that supply chain, however long it takes to build it. Import dependence can be fatal. By Irina Slav for More Top Reads From this article on
Yahoo
37 minutes ago
- Yahoo
Key US-China trade talks set for Monday in London
LONDON (Reuters) -Top U.S. and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two superpowers that has widened in recent weeks beyond tit-for-tat tariffs to export controls over goods and components critical to global supply chains. At a still-undisclosed venue in London, the two sides will try to get back on track with a preliminary agreement struck last month in Geneva that had briefly lowered the temperature between Washington and Beijing and fostered relief among investors battered for months by U.S. President Donald Trump's cascade of tariff orders since his return to the White House in January. "The next round of trade talks between the U.S. and China will be held in the UK on Monday," a UK government spokesperson said on Sunday. "We are a nation that champions free trade and have always been clear that a trade war is in nobody's interests, so we welcome these talks." Gathering there will be a U.S. delegation led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, and a Chinese contingent helmed by Vice Premier He Lifeng. The second-round of meetings comes four days after Trump and Chinese leader Xi Jinping spoke by phone, their first direct interaction since Trump's January 20 inauguration. During the more than one-hour-long call, Xi told Trump to back down from trade measures that roiled the global economy and warned him against threatening steps on Taiwan, according to a Chinese government summary. But Trump said on social media the talks focused primarily on trade led to "a very positive conclusion," setting the stage for Monday's meeting in London. The next day, Trump said Xi had agreed to resume shipments to the U.S. of rare earths minerals and magnets. China's decision in April to suspend exports of a wide range of critical minerals and magnets upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. That had become a particular pain point for the U.S. in the weeks after the two sides had struck a preliminary rapprochement in talks held in Switzerland. There, both had agreed to reduce steep import taxes on each other's goods that had had the effect of erecting a trade embargo between the world's No. 1 and 2 economies, but U.S. officials in recent weeks accused China of slow-walking on its commitments, particularly around rare earths shipments. "We want China and the United States to continue moving forward with the agreement that was struck in Geneva," White House spokeswoman Karoline Leavitt told the Fox News program "Sunday Morning Futures' on Sunday. "The administration has been monitoring China's compliance with the deal, and we hope that this will move forward to have more comprehensive trade talks." The inclusion at the London talks of Lutnick, whose agency oversees export controls for the U.S., is one indication of how central the issue has become for both sides. Lutnick did not attend the Geneva talks, at which the countries struck a 90-day deal to roll back some of the triple-digit tariffs they had placed on each other since Trump's inauguration. That preliminary deal sparked a global relief rally in stock markets, and U.S. indexes that had been in or near bear market levels have recouped the lion's share of their losses. The S&P 500 Index, which at its lowest point in early April was down nearly 18% after Trump unveiled his sweeping "Liberation Day" tariffs on goods from across the globe, is now only about 2% below its record high from mid-February. The final third of that rally followed the U.S.-China truce struck in Geneva. Still, that temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and U.S. complaints about China's state-dominated, export-driven economic model. While the UK government will provide a venue for Monday's discussions, it will not be party to them but will have separate talks later in the week with the Chinese delegation.
Yahoo
2 hours ago
- Yahoo
Insane amount Aussies could pay for coffee
Coffee may need to reach $12 a cup for Australia to compete with other countries for the sacred beans. Benchmark prices hit an all-time high in April, and industry insiders say Chinese demand for beans is squeezing prices in Australia. '(The) Chinese have very much converted from tea to coffee,' Essential Coffee chief executive Todd Hiscock told the ABC. 'They're buying up unprecedented levels of coffee supplies, often they're taking a whole Brazilian stock load in ways that's never been seen before.' Median prices per cup needed to increase to between $8 to $12, he said. 'We've got to come to the party and pay in a competitive global market,' Hiscock said. Brazil produces more than one-third of the world's coffee beans. The country battled through a drought in 2024 that was capped off with a cold snap. Combined, this slashed the overall harvests. As investors turn away from the volatile US, the Brazilian real has also climbed, disincentivising exports out of Brazil. Vietnam is the second-largest coffee producer. The El Nino weather pattern plunged Vietnam's coffee-growing regions into drought for the past two years, damaging the plants so badly that many will not fully recover for another two years. These international pressures, plus general inflation, are slicing margins at Australian cafes. A large player in the Australian coffee industry, Essential Coffee's wage bill has risen 9 per cent in two years, combined with a 29 per cent increase in rent and a 6 per cent rise in insurance. Mr Hiscock told the ABC the price of wholesale coffee had risen 119 per cent since November 2023. 'It's hard because people are very sensitive to their beloved coffee and when you move the price up, you find not just a lot of negative reaction, you find some very terse expletives,' he said.
