BEIJING, Oct. 5, 2020 /PRNewswire/ -- Gridsum Holding Inc.
("Gridsum" or the "Company") (NASDAQ:GSUM), a leading provider of
cloud-based big-data analytics and artificial intelligence ("AI")
solutions in China, today
announced that on October 1, 2020, it
received a letter (the "Nasdaq Letter") from the Listing
Qualifications Department of The Nasdaq Stock Market ("Nasdaq"),
indicating that for the ten consecutive business days from
September 15, 2020 through
September 30, 2020, the closing bid
price for the Company's American depositary shares (the "ADSs"),
each representing one Class B ordinary share of the Company, has
been at $1.00 per ADS or greater as
required for continued listing on The Nasdaq Global Select
Market.
As previously reported, on April 17,
2020, the Company received a deficiency notice from Nasdaq's
Listing Qualifications Department, indicating that the Company had
not been in compliance with the minimum bid price requirement of
$1.00 per ADS for continued listing
on The Nasdaq Global Select Market. The Nasdaq Letter
confirmed that the Company has regained compliance with such
requirement, and the matter is now closed.
About Gridsum
Gridsum Holding Inc. (NASDAQ: GSUM) is a leading provider of
cloud-based big-data analytics and AI solutions for multinational
and domestic enterprises and government agencies in China. Gridsum's core technology, the Gridsum
Big Data Platform and the Gridsum Prophet: Enterprise AI Engine, is
built on a distributed computing framework and performs real-time
multi-dimensional correlation analysis of both structured and
unstructured data. This enables Gridsum's customers to identify
complex relationships within their data and gain new insights that
help them make better business decisions. The Company is named
"Gridsum" to symbolize the combination of distributed computing
(Grid) and analytics (sum). As a digital intelligence pioneer, the
Company's mission is to help enterprises and government
organizations in China use data in
new and powerful ways to make better-informed decisions and be more
productive.
For more information, please
visit http://www.gridsum.com/.
Safe Harbor Statement
This announcement contains forward-looking statements. These
forward-looking statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These statements can be identified by terminology such as
"may," "will," "expects," "anticipates," "aims," "future,"
"intends," "plans," "believes," "estimates," "likely to" and
similar statements. Forward-looking statements involve inherent
risks and uncertainties. Many factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the substantial doubt about
our ability to continue as a going concern, duration and impact of
the COVID-19 pandemically, general economic conditions in
China, unexpected difficulties in
pursuit of our business strategy, unpredictable demand for
solutions we have developed, difficulties keeping and strengthening
relationships with existing customers or expanding our customer
base, availability of additional capital when needed, uncertainties
associated with our repayment of indebtedness, and uncertainty
about the proposed going private transaction. Further information
regarding these and other risks is included in Gridsum's annual
report on Form 20-F and other reports filed with, or furnished to,
the U.S. Securities and Exchange Commission. All information
provided in this press release is as of the date of this press
release, and Gridsum undertakes no duty to update such information
except as required under applicable law.
Investor Relations
Gridsum
ir@gridsum.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
Email: Eyuan@christensenir.com
In U.S.
Mr. Tip Fleming
Phone: +1 917 412 3333
Email: tfleming@christensenir.com
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SOURCE Gridsum Holding Inc.