Latest news with #)Technology
Business Insider
3 days ago
- Business
- Business Insider
Wetouch receives Nasdaq non-compliance notification
Wetouch (WETH) Technology announced that it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC, dated May 27, 2025, indicating that the company is not in compliance with Nasdaq Listing Rule 5250(c)(1). This rule requires timely filing of periodic reports with the U.S. Securities and Exchange Commission. The notification was issued because the company has not yet filed its Quarterly Report on Form 10-Q for the period ended March 31, 2025 and the company remains delinquent in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. This delay triggered the non-compliance notice under the continued listing requirements. In accordance with Nasdaq's procedures, the company has until June 20, 2025, to submit to Nasdaq a plan to regain compliance. If Nasdaq accepts the plan, Wetouch may be granted up to 180 calendar days from the original due date of the Form 10-K, or until October 13, 2025, to file the Form 10-K and Form 10-Q and thereby regain compliance. The company intends to file the Form 10-K and Form 10-Q as soon as practicable thereafter, and expects to regain compliance within the allowed timeframe. Confident Investing Starts Here:
Yahoo
25-04-2025
- Business
- Yahoo
Chinese broker Yuanbao eyes $676.3m valuation in US IPO
Chinese insurance broker Yuanbao is targeting a valuation of up to $676.3m (4.93bn yuan) in its US initial public offering (IPO), reported Reuters. The company intends to raise up to $30m by offering nearly two million American depositary shares (ADSs) priced between $13 and $15 each. In conjunction with the IPO, existing principal shareholders have indicated interest in purchasing up to $17m worth of ADSs. Additionally, China-based Qiming Venture Partners has agreed to a concurrent private placement of $1m in Yuanbao shares. Yuanbao's full-year revenue climbed to 3.28bn yuan in 2024, up from 2.05bn yuan in the preceding year. The company filed for the IPO with the US Securities and Exchange Commission in September last year, seeking to list ADSs on the Nasdaq Stock Market under the ticker symbol 'YB'. The underwriting for the IPO is being managed by Goldman Sachs (Asia), Citigroup Global Markets and China International Capital Corporation Hong Kong Securities. Kirkland & Ellis International is advising Yuanbao on legal matters pertaining to US federal securities and New York State law, while the underwriters are being advised by Latham & Watkins. The company operates through its subsidiary in mainland China, Yuanbao Kechuang (Beijing) Technology, and through contractual arrangements with its variable interest entity Yuanbao Shuke (Beijing) Technology and its subsidiaries. As of 30 June 2024, the company has more than 4,400 models supporting functions such as product recommendation, policy administration, claims processing and customer service. Its engine integrates predictive analytics through a network of interconnected models to inform decisions across channels, customer groups and product lines, the company said in IPO filing. "Chinese broker Yuanbao eyes $676.3m valuation in US IPO " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
