Yimutian Inc (YMT) News & EventsYMTNews & EventsYimutian Inc

Yimutian Submits Hearing Request to Nasdaq

Yimutian announced that it has formally submitted a hearing request to the Hearing Panel of The Nasdaq Stock Market on May 20. As previously disclosed, on May 13, the company received (i) a notification regarding its deficiency under the Minimum Market Value of Listed Securities requirement pursuant to Nasdaq Listing Rule 5450(b)(2)(A), and (ii) a Determination Letter notifying the company of its non-compliance with the Minimum Market Value of Publicly Held Shares requirement under Nasdaq Listing Rule 5450(b)(2)(C), and that it is subject to delisting. In response, the company timely submitted the hearing request and related correspondence to the Panel. The submission of the hearing request automatically stays any delisting action pending the outcome of the hearing or any extension granted by the Panel. The company's American Depositary Shares will therefore continue to trade on The Nasdaq Global Market under the symbol "YMT" during this process. Yimutian remains fully committed to regaining compliance with all applicable Nasdaq continued listing requirements. The company has been actively implementing a comprehensive plan that includes strategic initiatives aimed at increasing its market value of listed securities and publicly held shares. The management team is confident in the fundamental strength of the company's business and is taking all reasonable and appropriate actions to eliminate the deficiencies and achieve sustained compliance. The company will continue to provide timely updates regarding material developments in this matter. There can be no assurance that the company will ultimately regain compliance or that its ADSs will remain listed on Nasdaq.

Yimutian Adjusts ADS Ratio to 375 Shares

Yimutian announced that it plans to change the ratio of its American Depositary Shares, or ADSs, to its Class A ordinary shares from the current ratio of one ADS representing 25 Class A ordinary shares to 375 Class A ordinary shares, effective on or around May 18. For the Company's ADS holders, the ADS Ratio Change will have the same effect as a 15-for-1 reverse split. Upon the Effective Date, ADS holders will be required to surrender and exchange every 15 existing ADSs then held for one new ADS. JPMorgan Chase Bank, N.A., as the depositary bank for the Company's ADS program, will arrange for the exchange. The Company's ADSs will continue to be traded on the Nasdaq under the ticker symbol "YMT." As a result of the ADS Ratio Change, the ADS trading price is expected to increase proportionately upon the effectiveness of the ADS Ratio Change, although the Company can give no assurance that the ADS trading price after the ADS Ratio Change will be equal to or greater than 15 times the ADS trading price before the change.

Yimutian Issues 2026 Financial Outlook and Capital Plan

Yimutian issued a strategic update to investors and market participants, outlining the company's capital plan, equity commitments, and financial outlook for 2026. The company's $30M convertible note facility, signed in December 2025 and filed with the SEC, is proceeding as planned. The initial tranche of $3.3M has been funded, with a second tranche expected to close in the near term and the remainder to be drawn during the year subject to customary conditions. The facility provides the company with the liquidity and flexibility to execute on organic growth initiatives and pursue strategic acquisitions as opportunities arise. The company and its management team commit to purchasing no less than $3M of the company's shares in the open market. The management team has further committed to a twelve-month lock-up on existing holdings, foregoing the ability to sell. The company is also working with its Board to adopt a formal share repurchase program in the near term. Management expects total 2026 revenue of approximately RMB1.0B, with roughly equal contributions from the Company's core operations and the pending Xunxi acquisition. The Xunxi contribution is contingent on closing, which the company expects in the near term.