Scienjoy receives noncompliance letter from Nasdaq

Scienjoy (SJ) announced that the company had received a notification letter from Nasdaq, notifying the company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550. It resulted from the fact that the closing bid price of the company’s Class A ordinary shares, no par value was below $1.00 per share for a period of 30 consecutive business days from May 27 to July 9.