BEIJING, May 20, 2022
/PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS)
("Cloopen" or the "Company") today announced that, on May 18, 2022, it received a letter from the New
York Stock Exchange (the "NYSE") notifying the Company that it is
not in compliance with the NYSE's continued listing standards as a
result of the Company's failure to timely file its annual report on
Form 20-F for the fiscal year ended December
31, 2021 (the "2021 Annual Report"). The Company expects to
file the 2021 Annual Report, upon (1) the outcome of the pending
internal investigation as disclosed in the Company's current report
on Form 6-K initially furnished to the U.S. Securities and Exchange
Commission (the "SEC") on May 3,
2022, and (2) the completion of the audit of the Company's
consolidated financial statements required to be included in the
2021 Annual Report. The anticipated filing date of the 2021 Annual
Report is currently unknown, and the Company will file the 2021
Annual Report as soon as practicable.
The NYSE will closely monitor the status of the Company's late
filing and related public disclosures for up to a six-month period
from the due date of the 2021 Annual Report. If the Company fails
to file the 2021 Annual Report and any subsequent delayed filings
within six months from the filing due date, the NYSE may, in its
sole discretion, allow the Company's securities to trade for up to
an additional six months depending on specific circumstances, as
outlined in Section 802.01E of the Listed Company Manual. If the
NYSE determines that an additional six-month trading period is not
appropriate, suspension and delisting procedures will commence.
Receipt of the letter does not have any immediate effect on the
listing of the Company's American depositary shares on the NYSE,
except that until the Company regains compliance with the NYSE's
listing standards, an "LF" indicator will be appended to the
Company's trading symbol, "RAAS," signifying its status as a late
filer.
About Cloopen Group Holding Limited
Cloopen Group Holding Limited is a leading multi-capability
cloud-based communications solution provider in China offering a full suite of cloud-based
communications solutions, covering communications platform as a
service (CPaaS), cloud-based contact centers (cloud-based CC), and
cloud-based unified communications and collaborations (cloud-based
UC&C). Cloopen's mission is to enhance the daily communication
experience and operational productivity for enterprises. Cloopen
aspires to drive the transformation of enterprise communications
industry by offering innovative marketing and operational tactics
and SaaS-based tools.
For more information, please visit
https://ir.yuntongxun.com.
Forward-Looking Statements
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. 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," "confident" and similar statements. Cloopen may also
make written or oral forward-looking statements in its reports
filed with or furnished to the SEC, 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. Any statements that are not historical facts,
including statements about Cloopen's beliefs and expectations as
well as its financial outlook, are forward-looking statements.
These forward-looking statements are based on Cloopen's current
expectations and involve factors, risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Such factors, risks and uncertainties
include, but not limited to the following: Cloopen's goals and
strategies; its expectations regarding demand for and market
acceptance of its brand and services; its ability to attract new
customers or retain existing ones; its ability to continue
developing solutions and the markets its solutions target; its
ability to maintain collaborations with mobile network operators;
its ability to enhance or upgrade its existing solutions and
introduce new ones in a timely and cost-effective manner; its
ability to maintain the compatibility of its solutions across
devices, business systems and applications and physical
infrastructure; relevant government policies and regulations
relating to Cloopen's corporate structure, business and industry,
as well as the industries in which its customers operate; and
general economic and business condition in China. Further information regarding these and
other risks, uncertainties or factors is included in Cloopen's
filings with the SEC. All information provided in this press
release is current as of the date of the press release, and Cloopen
does not undertake any obligation to update such information,
except as required under applicable law. All forward-looking
statements are qualified in their entirety by this cautionary
statement, and you are cautioned not to place undue reliance on
these forward-looking statements.
For investor and media inquiries, please contact:
Cloopen Group Holding Limited
Investor Relations
Email: ir@yuntongxun.com
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SOURCE Cloopen Group Holding Limited