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SHENZHEN, China, May 28, 2020 /PRNewswire/ — X Banking (NYSE: XYF) (the “Company” or “we”), a arch technology-driven claimed accounts aggregation in China,, today appear that it has accustomed a letter from the New York Stock Exchange (the “NYSE”) anachronous April 28, 2020, advice X Banking that (i) it is beneath acquiescence standards due to the trading amount of X Financial’s American depositary shares (the “ADSs”) and (ii) it will accept six months from July 1, 2020 to cure the minimum allotment amount standard.
Pursuant to NYSE rule 802.01C, a aggregation will be advised to be beneath acquiescence standards if the boilerplate closing amount of a aegis as appear on the circumscribed band is beneath than $1.00 over a after 30 trading-day period. Once notified, the aggregation charge accompany its allotment amount and boilerplate allotment amount aback aloft $1.00 by six months afterward cancellation of the notification. The aggregation can achieve acquiescence at any time during the six-month cure aeon if on the aftermost trading day of any agenda ages during the cure aeon the aggregation has a closing allotment amount of at atomic $1.00 and an boilerplate closing allotment amount of at atomic $1.00 over the 30 trading-day aeon catastrophe on the aftermost trading day of that month. In the accident that at the cessation of the six-month cure period, both a $1.00 closing allotment amount on the aftermost trading day of the cure aeon and a $1.00 boilerplate closing allotment amount over the 30 trading-day aeon catastrophe on the aftermost trading day of the cure aeon are not attained, the NYSE will arise abeyance and delisting procedures.
To abode this issue, X Banking intends to adviser the bazaar altitude of its listed balance and is still because its options.
About X Financial
X Banking (NYSE: XYF) (the “Company”) is a arch technology-driven claimed accounts aggregation in China focused on affair the huge appeal for acclaim from individuals and small-to-medium-sized action owners. The Company’s proprietary big data-driven accident ascendancy system, WinSAFE, builds accident profiles of -to-be borrowers application a variety data-driven acclaim appraisal alignment to accurately appraise a borrower’s value, acquittal capability, acquittal attitude and all-embracing creditworthiness. X Banking has accustomed a cardinal affiliation with ZhongAn Online P&C Allowance Co., Ltd. in assorted areas of its business operations to anon accompaniment its cutting-edge accident administration and acclaim appraisal capabilities. ZhongAn Online P&C Allowance Co., Ltd. provides acclaim allowance on X Financial’s investment articles which decidedly enhances broker aplomb and allows the Aggregation to allure a adapted and bargain allotment abject from individuals, enterprises and banking institutions to abutment its growth. X Banking leverages banking technology to accommodate convenient, efficient, and defended advance casework to a advanced ambit of high-quality borrowers and accumulation flush investors which complements acceptable banking institutions and helps to advance the development of across-the-board accounts in China.
Safe Harbor Statement
This advertisement contains advanced statements aural the acceptation of Section 21E of the Balance Exchange Act of 1934, as amended. These advanced statements are fabricated beneath the “safe harbor” accoutrement of the U.S. Private Balance Litigation Reform Act of 1995. These statements can be articular by analogue such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and agnate statements. The Aggregation may additionally accomplish accounting or articulate advanced statements in its alternate letters to the U.S. Balance and Exchange Commission (the “SEC”), in its anniversary address to shareholders, in columnist releases and added accounting abstracts and in articulate statements fabricated by its officers, admiral or advisers to third parties. Any statements that are not absolute facts, including statements about the Company’s behavior and expectations, are advanced statements that absorb factors, risks and uncertainties that could account absolute after-effects to alter materially from those in the advanced statements. Such factors and risks include, but not bound to the following: the Company’s goals and strategies; its approaching business development, banking action and after-effects of operations; the accepted advance of the acclaim industry, and exchange lending in particular, in China; the appeal for and bazaar accepting of its marketplace’s articles and services; its adeptness to allure and absorb borrowers and investors on its marketplace; its relationships with its cardinal cooperation partners; antagonism in its industry; and accordant government behavior and regulations apropos to the accumulated structure, business and industry. Further advice apropos these and added risks, uncertainties or factors is included in the Company’s filings with the SEC. All advice provided in this advertisement is accepted as of the date of this announcement, and the Aggregation does not undertake any obligation to amend such information, except as appropriate beneath applicative law.
For added information, amuse contact:
X FinancialMr. Kevin ZhangE-mail: [email protected]
In ChinaMr. Christian ArnellPhone: 86-10-5900-1548E-mail: [email protected]
In USMs. Linda BergkampPhone: 1-480-614-3004Email: [email protected]
SOURCE X Financial
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