ChinaNet (CNET) Regains Compliance with NASDAQ Minimum Bid Price Requirement

ChinaNet Online Holdings, Inc. (Nasdaq: CNET) ("ChinaNet" or the "Company"), an integrated online advertising, precision marketing, and data-analysis and management services platform, today announced that on June 23, 2020 it received a written notice from the Listing Qualifications Staff of The NASDAQ Stock Market (“NASDAQ”) stating that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which sets forth minimum bid price continued listing requirement.

As previously disclosed, the Company had previously been notified by NASDAQ on April 21, 2020 that it was not in compliance with the minimum bid price requirement because its common stock failed to maintain a minimum bid price of at least $1.00 for 30 consecutive business days. In order to regain compliance with Nasdaq Listing Rule 5550(a)(2), the Company was required to meet or exceed a minimum closing bid price of at least $1.00 per share for at least 10 consecutive business days, which was achieved on June 22, 2020, as from June 9 to June 22, 2020, the closing bid price of the Company’s common stock has been at $1.00 per share or greater. Accordingly, ChinaNet has regained compliance with Listing Rule 5550(a)(2) and this matter is now closed.

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