Zepp Health receives noncompliance letter from Nasdaq

Zepp Health announced that it has received a letter from the NYSE dated April 30, notifying Zepp that it is below compliance standards due to the trading price of Zepp’s American depositary shares. Pursuant to Section 802.01C of the NYSE’s Listed Company Manual, a company will be considered to be below compliance standards if the average closing price of its security as reported on the consolidated tape is less than $1.00 over a consecutive 30 trading-day period. The company has six months following receipt of the notice to regain compliance with the minimum share price requirement. The company can regain compliance at any time during the cure period if on the last trading day of any calendar month during the cure period the company has a closing share price of at least $1.00 per ADS and an average closing share price of at least $1.00 per ADS over the 30 trading-day period ending on the last trading day of that month. In the event that at the expiration of the six-month cure period, both a $1.00 per ADS closing share price on the last trading day of the cure period and a $1.00 per ADS average closing share price over the 30 trading-day period ending on the last trading day of the cure period are not attained, the NYSE will commence suspension and delisting procedures. Zepp Health has advised the NYSE of its intention to cure the deficiency within the applicable cure period and is considering all available options in this regard, which may include, if necessary, effecting a reverse share split, subject to board and shareholder approval.