HONG KONG, Dec. 05, 2024 — Santech Holdings Limited (NASDAQ: STEC) (“Santech” or the “Company”) today announced a 180-day extension from Nasdaq to regain compliance with its minimum bid price requirement.

In a December 4, 2024 letter, Nasdaq’s Listing Qualifications Department informed Santech that, although not yet compliant, it’s granted an extension until May 26, 2025 (“Second Compliance Period”). This decision considered Santech’s fulfillment of public share market value and other initial listing requirements (excluding the minimum bid price), its plan to address the deficiency (potentially via a reverse stock split), its acceptance of Nasdaq Listing Agreement conditions, and supporting documentation from its application to transfer listing from the Nasdaq Global Market to the Nasdaq Capital Market (“Application”). This transfer, effective December 5, 2024, was approved.

Compliance is achieved if the closing bid price of Santech’s ordinary shares reaches or surpasses US$1.00 per American Depositary Share (“ADS”) for ten consecutive business days within the Second Compliance Period. Nasdaq will then confirm compliance in writing.

Santech will continue monitoring its compliance, exploring solutions including a potential reverse share split and ADS ratio adjustment if needed.

About Santech Holdings Limited

Santech Holdings Limited (NASDAQ: STEC) is a consumer technology company. It previously served numerous high-net-worth clients in China’s financial services and health management sectors. Having exited these historical businesses, Santech is pursuing new technology opportunities, including new retail, social e-commerce, and the metaverse. For more information, visit https://ir.santechholdings.com.

Safe Harbor Statement

This press release includes forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These statements, often including terms like “anticipate,” “estimate,” “plan,” “project,” “potential,” “continue,” “expect,” “believe,” “intend,” “may,” “should,” “will,” and similar expressions, are not historical facts but reflect beliefs, plans, and expectations. Such statements involve inherent risks and uncertainties. Further details on these and other risks are in the Company’s SEC filings. All information is current as of today, and the Company is not obligated to update forward-looking statements unless legally required.

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