NYSE to Commence Delisting Proceedings Against Kuke Music Holding Limited (KUKE)

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the American Depositary Shares (“ADSs”), each representing ten Class A ordinary share of Kuke Music Holding Limited (the “Company”) — ticker symbol KUKE — from the NYSE. Trading in the Company’s ADSs will be suspended immediately.

NYSE Regulation reached its decision to delist the Company’s ADSs pursuant to Section 802.01C of the NYSE’s Listed Company Manual because the Company failed to maintain an average closing price of a security as reported on the consolidated tape of at least $1.00 over a consecutive 30 trading-day period and the Company had effected a change to the ratio of its American Depositary Receipts (equivalent to a reverse stock split) over the prior one-year period.

The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s ADSs upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.