In the seventh year of listing in the United States, Dana Technology (NASDAQ: TEDU), which is known as "the first American stock market in China's vocational education", is on the verge of delisting again.

Dana technology 14 announced in the evening of February that the closing price of ADS was lower than 1 USD per share for 30 consecutive working days, which did not meet the minimum transaction price requirements in the Nasdaq listing rules. On February 18, 10 received the warning letter of Nasdaq delisting.

In order to raise the stock price, Dana Technology announced the "share split" decision on 65438+February 1 day, and split every ADS 1 share of Class A common stock into 5 shares of Class A common stock per ADS. If the US Securities and Exchange Commission (SEC) agrees, the decision will take effect on February 23rd, 65438.

Dana Technology believes that this move may lead to a proportional increase in the transaction price of ADS, but it cannot guarantee to achieve this goal.

This is not the first time Dana Education has received a delisting warning.

In June 2009, the Independent Audit Committee found that the accumulated operating income of Dana Technology from fiscal year 20 14 to fiscal year 20 18 inflated by 630 million yuan, and its share price was once lower than 1 USD for 30 consecutive trading days and 20 19 years.

According to the listing rules of Nasdaq, the grace period of Dana Technology is 180 days, which can be extended to May 25, 2020.

In June 5438 +2020 10, Dana Technology announced that it would meet the minimum purchase price of Nasdaq again, and the risk of delisting was temporarily alleviated.

Dana Technology's net loss in the third quarter was 94.7 million yuan, a year-on-year increase of 48.2%.

The loss was mainly due to the increase in revenue cost, which was 302 million yuan during the period, up 1 1.5% year-on-year. Mainly due to the increasing number of teaching staff in the quality education learning center for children and adolescents, the personnel cost has increased. Moreover, the government exempted social security fees during the epidemic in the third quarter of last year, which is unnecessary this year.

Dana Technology is gradually divesting adult IT business and gradually increasing children's programming business.

The financial report shows that the net revenue of Dana Technology's adult vocational education business is 282.6 million yuan, down 65,438+04.7% year-on-year, accounting for 45.9% of the total net revenue; The income from quality education for children and adolescents was 332.6 million yuan, up 65,438+04.8% year-on-year, accounting for 54. 1% of the total net income.

"Double reduction" clearly stipulates that discipline training institutions are not allowed to go public for financing, and capitalization operation is strictly prohibited. In addition to Dana Technology, a number of educational companies have received delisting warning letters.

In addition, the SEC recently announced the adoption of legal amendments, which improved the final implementation rules of the Foreign Company Accountability Act (HFCAA), and clarified the scope, reporting and disclosure obligations and mandatory delisting procedures of regulated companies. The new regulations echoed the Foreign Corporate Responsibility Act passed by the US Congress in June 5438+February last year. If China Stock Exchange refuses to disclose, it may face forced delisting.

At present, Four Seasons Education (NYSE: FEDU), Elite Education (NYSE: ONE), Park Shin Education (NYSE: New) and Ruisi Education (NASDAQ: REDU) received delisting warning letters from July to June.

On August 20th, Suntech (NYSE:STG) also received a notice from NYSE for the same reason, and will take measures to reach the minimum standard of stock price within six months after July 23rd, otherwise it will face delisting.

Suntech's remedy is merger and ex-rights. On August 3rd1EDT, the company merged 2 shares for every 25 shares, and the total share capital was reduced from 65438+68 million shares to 13458400 shares. On the trading day before the merger, its closing price was 0.52 USD/share, and it was 6.5 USD/share after the merger. As of the close of 65438+February 14 EDT, Suntech reported $4.65438 +05 yuan per share.

Compared with Suntech's merger and self-help, Fluency said (NYSE:LAIX) voluntarily announced its entry into the privatization process before receiving the warning letter of delisting.

On August 4th, Liuchang announced that Wang Yi, Hu Zheren and Lin Hui, three founders, joined hands with Chunhua Capital Group to purchase all the issued common shares of the company at a price of $65,438+0.65,438+03 yuan per share.

By the end of 65438+February and 65438+April, the US stock market closed, and it was fluent that the stock price was 0.728 USD/share, with a total market value of 36.2394 million USD.