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.
