CHENGDU, China, Nov. 17, 2020 /PRNewswire/ -- Senmiao Technology Limited ("Senmiao") (NASDAQ:AIHS), a provider of automobile transaction and related services targeting the online ride-hailing industry in China, today announced that it received a letter from the Nasdaq Stock Market LLC notifying Senmiao that it has regained compliance with the Nasdaq Capital Market's minimum bid price and minimum market value of listed securities requirements. The letter noted that as of November 16, 2020, Senmiao evidenced a closing bid price of its common stock in excess of the $1.00 minimum requirement for the past 20 consecutive business days. Accordingly, Senmiao has regained compliance with Nasdaq Marketplace Rule 5550(a)(2) and Nasdaq considers the matter closed.
In addition, Nasdaq notified Senmiao it has determined that for a recent 20 consecutive business days, Senmiao's market value of listed securities has been $35,000,000 or greater. Accordingly, Senmiao has regained compliance with Listing Rule 5550(b)(2), and this matter is also now closed.