Meiwu Technology Co., Limited Received Nasdaq Notification Letter Related to Late Filing of Annual Report on Form 20-F
05 Juni 2024 - 3:00PM
Meiwu Technology Co., Limited (NASDAQ: WNW) (“Meiwu” or the
“Company”), an online and mobile commerce company providing organic
and green food products to customers on its online platform and in
its stores, enterprise short message service (“SMS”) and
information technology to serve designated medical insurance
institutions in China, announced today that it has received a
letter from the Nasdaq Stock Market, dated May 31, 2024 (the
“Deficiency Letter”), notifying the Company that it is not in
compliance with the requirements for continued listing set forth in
Nasdaq Listing Rule 5250(c)(1) because it did not timely file its
annual report on Form 20-F for the year ended December 31, 2023
(the “2023 Annual Report”).
In accordance with Nasdaq Listing Rules, the
Company has 60 calendar days from the date of the Deficiency Letter
to submit a plan to regain compliance with Nasdaq Listing Rules
(the “Compliance Plan”). If Nasdaq accepts the Compliance Plan,
Nasdaq may grant the Company an extension until September 10, 2024
to regain compliance. The Company intends either to file its 2023
Annual Report or submit the Compliance Plan within the prescribed
60-day period.
The Deficiency Letter has no immediate impact on
the listing of the Company’s ordinary shares on the Nasdaq Capital
Market.
This announcement is made in compliance with
Nasdaq Listing Rule 5810(b), which requires prompt disclosure of
receipt of a deficiency notification.
About Meiwu Technology Company
Limited
Meiwu Technology Company Limited is a British
Virgin Islands company incorporated on December 4, 2018, and
conduct our business in China through our subsidiaries and variable
interest entity, Meiwu Zhishi Technology (Shenzhen) Co., Ltd
(“VIE”). The VIE is an online and mobile commerce company and
conduct our business through our online retail store on the website
www.wnw108.com. The VIE sell a myriad of food products on the
website all the food products sold on the website are from the
suppliers. The VIE do not sell genetically modified food and
committed to providing our customers with safe, high-quality,
nutritious, tasty and non-genetically modified food products
through our portfolio of trusted and well-known suppliers.
Optimizing the Website and real-time data, the VIE able to respond
to and match supply with demand for food products in keeping with
consumer trends. On June 23, 2022, we had completed the acquisition
of Mahaotiaodong (Xiamen) Technology Company Limited (“Mahao”).
Mahao is a company engaging in providing internet access and
related services based in Xiamen, China. Mahao operated a short
message service platform to send customized content to terminal
customers. Mahao is a mobile information service provider with rich
industry experience. Enterprise Short Message Service (“SMS”) is
currently the main business form of Mahao. Mahao utilizes its
accumulated system development technology and business
understanding based on customers’ industry to provide professional
enterprise SMS services to customers. Mahao mainly provides
customers with a complete set of services around enterprise SMS
through various forms such as customized system development,
enterprise instant messaging platform, API system docking, etc.,
including early debugging and opening of customer and Mahao
platform docking, maintenance and upgrading of customer SMS
operation system during operation, and solving problems such as
delay in SMS transmission, ensuring smooth and fast SMS
transmission. At the same time, Mahao takes auditing information
security and optimizing customer experience as its responsibility.
Through a rigorous program, mobile information content is audited
to ensure that various enterprise SMS messages, including
information verification, user notifications, member reminders, and
marketing promotion, can be safely and effectively delivered to
information recipients. On the basis of ensuring efficient
transmission of mobile information and content security, Mahao
provides various enterprise SMS services, including mobile business
scenario construction, product operation support, consumer
relationship management and support, for various financial,
internet, e-commerce, express logistics and other enterprise
customers.
Safe Harbor Statement
Certain statements made in this release are
“forward looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. When used in this press release, the
words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,”
“will,” “should,” “future,” “propose” and variations of these words
or similar expressions (or the negative versions of such words or
expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside the Company’s control, that
could cause actual results or outcomes to differ materially from
those discussed in the forward-looking statements. Important
factors, among others, are: the ability to manage growth; ability
to identify and integrate other future acquisitions; ability to
obtain additional financing in the future to fund capital
expenditures; fluctuations in general economic and business
conditions; costs or other factors adversely affecting our
profitability; litigation involving patents, intellectual property,
and other matters; potential changes in the legislative and
regulatory environment; a pandemic or epidemic. The forward-looking
statements contained in this release are also subject to other
risks and uncertainties, including those more fully described in
the Company’s filings with the Securities and Exchange Commission,
including the Company’s Amended Annual Report on Form 20-F, as
amended, initially filed with the SEC on May 12, 2023, which may be
amended from time to time. The Company undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable law. Such information speaks only as of the
date of this release.
For more information, please
contact:
Xinliang ZhangEmail: meiwuBS@usmeiwu.com
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