On October 5, 2022, the NYSE notified the Company that it was not in compliance with the NYSE's continued listing standards because, as of October 4, 2022, the average closing price of the Company's American depositary shares (the "ADSs") was less than US$1.00 per ADS over a consecutive 30 trading-day period. In order to regain compliance with the minimum share price requirement, the Company changed the ratio of its ADSs to its Class A ordinary shares (the "ADS Ratio"), par value US$0.0001 per share, from the previous ADS Ratio of one (1) ADS representing two (2) Class A ordinary shares to the current ADS Ratio of one (1) ADS representing six (6) Class A ordinary shares, effective March 15, 2023. On April 3, 2023, the Company received a confirmation from the NYSE that a calculation of the Company's average ADS price for the 30-trading days ended March 31, 2023 indicated that the Company's ADS price was above the NYSE's minimum requirement of US$1.00 based on a 30-trading day average.