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Tag: UK Stock

  • Ucommune (UK) Stock’s Higher Momentum In Extended Session

    Ucommune (UK) Stock’s Higher Momentum In Extended Session

    Ucommune International Ltd (NASDAQ: UK) experienced a notable upswing of 9.19% in its stock value during the extended trading session on Friday, reaching $3.63. This after-market surge not only offset the 5.14% loss incurred during the regular session but also marked another successful price-restoration day for the company’s compliance with listing requirements.

    The catalyst for this positive development was a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market, received by Ucommune (UK) on December 14, 2023. The correspondence communicated that Ucommune had rectified its non-compliance with the minimum bid price requirement stipulated in the Nasdaq Listing Rules.

    This compliance issue had been previously brought to the company’s attention on July 21, 2023, when Nasdaq notified Ucommune of its failure to meet the minimum bid price requirement. The deficiency arose due to the company’s closing bid price per share falling below $1.00 over the 30 consecutive business days from June 6, 2023, to July 20, 2023.

    In accordance with Nasdaq Listing Rules, Ucommune had a 180-calendar day compliance period, concluding on January 17, 2024, to rectify the situation. In pursuit of compliance, the company executed a share consolidation on November 29, 2023, consolidating 12 ordinary shares into one.

    Nasdaq’s Notification Letter on Compliance, dated December 14, 2023, officially confirmed that, for the past 10 consecutive business days (from November 30, 2023, through December 13, 2023), the closing bid price of Ucommune’s Class A ordinary shares had consistently been at or above $1.00 per share. Consequently, the company was deemed to have regained full compliance with Nasdaq Listing Rules.

    In a further strategic development, Ucommune recently formalized a strategic cooperation agreement with New World Development (Wuhan) Limited. The signing ceremony took place at the opening event of New World International Trade • Ucommune II (“New World II”).

    Notably, the Forum on Optimizing Building Economy and Collaborating for Breakthrough Development, held at Wuhan New World International Trade Center on December 13, 2023, marked a successful collaboration between Ucommune and New World Development (Wuhan) Limited. Attendees included local government leaders, media representatives, prominent Chinese banks, and business partners of both Ucommune and New World Development (Wuhan) Limited.

  • General Meeting of Shareholders: Ucommune International Ltd. (UK) Stock Made a Comeback in current market

    General Meeting of Shareholders: Ucommune International Ltd. (UK) Stock Made a Comeback in current market

    Ucommune International Ltd. (UK) is a leader in agile office space management and supply. It provides its members with supple and cost-effective office space platforms. The company’s self-operated models comprise U Space, U Studio, and U Design along with asset-light models including U Brand and U Partner.

    UK stock price during the regular trading on March 14, 2022, dropped by 32% to be $0.22. Its price rallied by 6.57% at the time of writing in the current market session of March 15, 2022.

    UK: Events and Happenings

    On March 15, 2022, UK reported holding an extraordinary general meeting of the shareholders on April 21, 2022. The reason behind the meeting is to impact a share consolidation of 20 ordinary shares par $0.0001 in its issued and non-issued share capital under one ordinary share par $0.002.

    On February 11, 2022, UK announced its entry into a contract with Xincheng Enterprise Management Co. for the development of the Shenfu-Ucommune Online Economy Industrial Park project. On February 3, 2022, UK updated on the receipt of notification from the Nasdaq Stock Market LLC on January 24, regarding non-compliance of the least bid price obligation.

    On January 14, 2022, UK stated regarding its entry into a contract with Nanchang Qinghu Industrial Park Management Company for the joint development of the Honggutan-Ucommune project.

    UK: Key Financials

    On November 26, 2022, UK’s third fiscal quarter 2021 financials were announced for the three months ended September 30, 2021. Some significant aspects are shared here.

    Revenue

    Third-quarter 2021 net revenues were RMB253.5 million in comparison to RMB199.9 million in the third quarter of fiscal 2020. The company noted an increase of 26.8% in net revenues YoY.

    EPS

    For the third quarter of fiscal 2021, net loss basic and diluted per share was RMB181.5 million or RMB2.01 compared to RMB169.3 million or RMB2.50 during the comparable quarter in 2020. The company’s EPS gained slightly over the year.

    Conclusion

    UK stock is plummeting from the last six months and touched a new low of 93% in this span. The company’s stock price jumped instantly in Tuesday’s current market trading following the issuance of an extraordinary general meeting date by the company.