Kuke Music Celebrates Return to NYSE Compliance Standards

Kuke Music Celebrates Return to NYSE Compliance Standards

Beijing — Kuke Music Holding Limited (NYSE: KUKE), a prominent classical music service platform in China, has exciting news to share. Recently, the company announced that it has successfully regained compliance with the New York Stock Exchange (NYSE) continued listing standards. This was confirmed by a notification from the NYSE, indicating that Kuke met the required minimum market capitalization and shareholders’ equity thresholds during the last two quarters.

Previously, on a date earlier in 2023, Kuke faced challenges when the NYSE notified them that their average global market capitalization had fallen below $50 million over a consecutive 30 trading-day period. Additionally, their shareholders’ equity was also reported to be under $50 million.

Starting from September 11, 2024, the indicators suggesting Kuke's non-compliance will be removed from the listings of the company's American depositary shares. This marks a fresh chapter for Kuke, as they will no longer appear on the NYSE’s website as being below continued listing standards. Moving forward, the company will be placed under a 12-month review period to ensure ongoing compliance with the exchange's standards.

About Kuke Music Holding Limited (NYSE: KUKE)

Kuke is not just a classical music streaming service; it’s an entire ecosystem dedicated to nurturing a passion for classical music in China. With a library comprising approximately 3 million audio and video tracks, Kuke collaborates with Naxos, one of the world’s leading independent classical music content providers. This partnership allows Kuke to boast an incredible collection of over 900 top-tier labels and record companies.

As a leader in international copyrighted classical music content, Kuke not only provides scalable licensing services to various online platforms but also caters to over 800 educational institutions, libraries, and other organizations across China with its subscription services. This impressive reach has been further enhanced through their sponsorship of the Beijing Music Festival (BMF), recognized as China’s premier music festival for continuous 24 years.

The Future of Music Learning with Kuke

Through its innovative platform, KUKEY, Kuke aims to revolutionize music education in China. This smart music learning solution makes classical music accessible to everyone, encouraging students from all walks of life to embrace music learning with advanced technology and resources. Kuke's goal is to democratize the music learning experience, ensuring more students discover and engage with classical music.

The Path Forward

With the recent developments regarding compliance with the NYSE, Kuke Music Holding Limited is positioned for growth and stability. The compliance achievement reflects the company's commitment to sound business practices and financial health. As they continue to expand their services and refine their offerings, Kuke remains dedicated to serving its user base and fostering a love for classical music throughout China.

Investor Relations Contact

For more information, potential investors, and interested parties can reach out to Kuke Music Holding Limited directly. The Investor Relations team can be contacted via email for any inquiries regarding the company’s performance, strategies, and any forthcoming developments.

Frequently Asked Questions

What recent milestone has Kuke Music achieved?

Kuke Music has recently regained compliance with the NYSE continued listing standards.

How did Kuke Music improve its compliance status?

The company met the NYSE’s minimum market capitalization and shareholders’ equity requirements over the past two quarters.

What is Kuke Music known for?

Kuke is recognized as a leading classical music service platform in China, providing a vast library and music learning services.

What are Kuke's future goals?

They aim to democratize music learning in China and improve access to classical music through technology and innovative solutions.

How can investors contact Kuke Music for inquiries?

Investors can reach out to Kuke's Investor Relations team via email for any questions or requests for information.

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