Qudian Inc. Receives Notice Regarding NYSE Continued Listing Standards

Author: Qudian Inc. / 2023-07-24 00:04 / Source: Qudian Inc.

Qudian Inc. Receives Notice Regarding NYSE Continued Listing Standards

XIAMEN,China,Feb. 10,2022 --Qudian Inc.("Qudian" or the "Company") (NYSE: QD),a leading technology platform empowering the enhancement of the online consumer finance experience inChina,today announced that it has received a letter from theNew York Stock Exchange(the "NYSE") dated February 7,2022,notifying the Company that it is below the NYSE's continued listing standards due to the trading price of Qudian's American depositary shares (the "ADSs").

Pursuant to Section 802.01C of the NYSE's Listed Company Manual,a company will be considered to be below compliance standards if the average closing price of its security as reported on the consolidated tape is less thanUS$1.00over a consecutive 30 trading-day period. The Company has six months ("the Cure Period") following receipt of the notice to regain compliance with the minimum share price requirement. The Company can regain compliance at any time during the Cure Period if on the last trading day of any calendar month during the Cure Period the Company has a closing share price of at leastUS$1.00 per ADSand an average closing share price of at leastUS$1.00 per ADSover the 30 trading-day period ending on the last trading day of that month. In the event that at the expiration of the six-month Cure Period,both aUS$1.00 per ADSclosing share price on the last trading day of the Cure Period and aUS$1.00 per ADSaverage closing share price over the 30 trading-day period ending on the last trading day of the Cure Period are not attained,the NYSE will commence suspension and delisting procedures.

To address this issue,the Company intends to monitor the market conditions of its listed securities and is still considering its options. The Company has notified the NYSE onFebruary 10,2022of its intent to cure the deficiency. During the Cure Period,the Company's ADSs will continue to be listed and traded on the NYSE,subject to its compliance with other NYSE continued listing standards and other rights of the NYSE to delist the ADSs. The NYSE notification does not affect the Company's business operations,itsU.S. Securities and Exchange Commissionreporting requirements or contractual obligations.

AboutQudian Inc.

Qudian Inc.("Qudian") is a leading technology platform empowering the enhancement of online consumer finance experience inChina. The Company's mission is to use technology to make personalized credit accessible to hundreds of millions of young,mobile-active consumers inChinawho need access to small credit for their discretionary spending but are underserved by traditional financial institutions due to lack of traditional credit data or high cost of servicing.Qudian'scredit solutions enable licensed,regulated financial institutions and ecosystem partners to offer affordable and customized loans to this young generation of consumers.

For more information,please visithttp://ir.qudian.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things,the expectation of its collection efficiency and delinquency contains forward-looking statements.Qudianmay also make written or oral forward-looking statements in its periodic reports to theSEC,in its annual report to shareholders,in press releases and other written materials and in oral statements made by its officers,directors or employees to third parties. Statements that are not historical facts,including statements aboutQudian'sbeliefs and expectations,are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement,including but not limited to the following:Qudian'sgoal and strategies;Qudian'sexpansion plans;Qudian'sfuture business development,financial condition and results of operations;Qudian'sexpectations regarding demand for,and market acceptance of,its credit products;Qudian'sexpectations regarding keeping and strengthening its relationships with borrowers,institutional funding partners,merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included inQudian'sfilings with theSEC. All information provided in this press release and in the attachments is as of the date of this press release,andQudiandoes not undertake any obligation to update any forward-looking statement,except as required under applicable law.

For investor and media inquiries,please contact:

InChina:

Qudian Inc.

Tel: +86-592-596-8208

E-mail:ir@qudian.com

The Piacente Group,Inc.

Jenny Cai

Tel: +86 (10) 6508-0677

E-mail:qudian@tpg-ir.com

Inthe United States:

The Piacente Group,Inc.

Brandi Piacente