BEIJING, May 16, 2025 – AirNet Technology Inc. (Nasdaq: ANTE) announced today that it received a notification on May 13, 2025, from Nasdaq Listing Qualifications Staff stating the company is not compliant with Nasdaq Listing Rule 5550(b)(1). This rule requires a minimum of $2,500,000 in stockholders’ equity for continued listing on the Nasdaq Capital Market. AirNet’s stockholders’ equity, as reported in its Form 20-F for the year ended December 31, 2024, falls below this minimum. Furthermore, the company does not currently meet alternative compliance standards based on the market value of its listed securities or net income from continuing operations.

The notification does not immediately affect the listing of AirNet’s American depositary shares on Nasdaq. The company has been given 45 calendar days, until June 27, 2025, to submit a plan to regain compliance with the minimum stockholders’ equity standard. AirNet will work with its advisors to create a compliance plan, which, if accepted by Nasdaq, could grant an extension of up to 180 calendar days from the date of the notification letter.

AirNet is disclosing the receipt of the notification from Nasdaq via this press release in accordance with Nasdaq Listing Rule 5815(a).

Forward-Looking Statement

This press release includes “forward-looking statements” that may be identified by terms such as “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar expressions. These statements are not guarantees of future performance and are based on assumptions and subject to risks and uncertainties, many of which are beyond the company’s control and difficult to predict or quantify. Consequently, actual results may differ materially from those expressed or implied in the forward-looking statements. There are no guarantees regarding the outcomes expressed herein. Such risks and uncertainties include, but are not limited to: (i) the company’s ability to manufacture product candidates on a commercial scale, either independently or through collaborations; (ii) difficulties in securing financing on commercially reasonable terms; (iii) changes in the competitive landscape; (iv) the loss of key executives or scientists; and (v) challenges in obtaining regulatory approval for clinical trials or marketing product candidates. More detailed information about AirNet and the risk factors that could affect the realization of forward-looking statements can be found in the company’s filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 20-F and its Current Reports on Form 6-K. Investors are encouraged to review these documents, which are available free of charge on the SEC’s website. The company undertakes no obligation to update or revise its forward-looking statements in light of new information, future events, or other developments.

This press release is not an offer to sell or a solicitation of an offer to buy any of AirNet’s securities. These securities will not be offered or sold in the United States without registration or an applicable exemption from registration. Furthermore, no offer, solicitation, or sale of these securities will occur in any state or jurisdiction where such activity would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

Company Contact

Penny Pei
Investor Relations
AirNet Technology Inc.
Tel: +86-10-8460-8678
Email: penny@ihangmei.com

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