So-Young International, Inc. Sponsored ADR Class A (SY.US) has been approved for transfer to the Nasdaq Capital Market, with the compliance period extended.

So-Young International, Inc. Sponsored ADR Class A (SY.US) announced that the NASDAQ Stock Market LLC has approved its request to transfer its American Depositary Shares (ADS) from the NASDAQ Global Market to the NASDAQ Capital Market, where every 13 ADS represent 10 Class A common shares. The transfer is expected to be effective from the market opening on February 27, 2025, and will not affect ADS trading. The stock symbol "SY" will continue to be used. It is reported that the NASDAQ Global Market mainly targets medium-sized companies with higher financial and liquidity standards, while the NASDAQ Capital Market provides a relatively lenient listing environment for small and growth-oriented companies to raise funds and enhance market visibility. Previously, the company received a NASDAQ notification letter on August 29, 2024, indicating that the closing price of its ADS had been below $1 for 30 consecutive trading days, not in compliance with listing rule 5450(a)(1). The company had 180 calendar days until February 24, 2025 to regain compliance with the minimum bid price requirement. As a result, the company filed for the transfer. Upon approval of the transfer, NASDAQ granted the company an additional 180 calendar days (until August 25, 2025) to meet the minimum bid price requirement, meaning the closing price of the company's ADS must reach or exceed $1 for at least 10 consecutive trading days. The company stated that they will actively monitor the closing price of the ADS and consider other options to rectify the deficiency and regain compliance.