MissFresh, a Chinese online grocery delivery company, announced on Tuesday that it has received a delisting determination from Nasdaq due to no longer meeting the minimum requirement of $10 million in shareholder equity for continued listing. The company’s shares plummeted nearly 10% to $0.56 at the end of Tuesday’s trading session, marking a decline of 99.8% from its peak price, recorded on its first day of listing. MissFresh has chosen to request a hearing before the Nasdaq Hearings Panel, seeking a stay of any suspension action until the conclusion of the hearing process. The Beijing-based company has not yet disclosed its financial results for 2022. Confronting operational challenges, MissFresh suspended its on-demand grocery delivery services and implemented significant layoffs in July of last year. By November, when the company filed its long-delayed 2021 annual report, MissFresh had only 55 full-time employees remaining. [MissFresh announcement]