TuanChe to implement ADS ratio change

TuanChe plans to change the ratio of its American Depositary Shares – ADSs – to Class A ordinary shares from the current ADS Ratio of one ADS to 16 Class A ordinary shares to a new ADS Ratio of one ADS to 240 Class A ordinary shares. TuanChe’s ADSs will continue to be traded on the Nasdaq Stock Exchange under the symbol “TC.” For TuanChe’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-fifteen reverse ADS split. The change in the ADS Ratio will have no impact on TuanChe’s underlying Class A ordinary shares, and no Class A ordinary shares will be issued or canceled in connection with the change in the ADS Ratio. As a result of the change in the ADS Ratio, TuanChe’s ADS trading price is expected to increase proportionally.