AirNet appoints blockchain expert as innovation advisor for Web3 push

BEIJING - AirNet Technology Inc. (NASDAQ:ANTE), whose stock has surged over 350% in the past six months and currently trades near its 52-week high of $3.67, has appointed Professor Yu Xiong as Chief Research and Innovation Advisor to guide the company’s transformation toward Web3 and cryptocurrency initiatives, according to a press release statement issued Tuesday. According to InvestingPro, the company’s recent momentum has pushed it above its Fair Value estimate.

In his advisory role, Prof. Xiong will provide strategic counsel to AirNet’s board and senior leadership on the company’s direction within the digital asset landscape, oversee innovation pipeline development, and identify strategic partnerships.

Prof. Xiong currently serves as Associate Vice President of External Engagement at the University of Surrey and chairs the Advisory Board for the UK All-Party Parliamentary Group on Metaverse and Web 3.0. His research background includes co-authoring a Nature Communications study on Bitcoin blockchain sustainability in China.

"We’re entering a new phase of innovation at AirNet," said Dan Shao, Chief Executive Officer of AirNet, in the statement. The micro-cap company, valued at approximately $11 million, faces financial challenges with negative EBITDA and gross profit margins below 11%.

Prof. Xiong holds multiple positions at the University of Surrey, including Chair of Business Analytics at Surrey Business School and Director of the Surrey Academy for Blockchain and Metaverse Applications.

AirNet Technology, listed on the Nasdaq, did not provide specific details about ongoing or planned Web3 and cryptocurrency projects that Prof. Xiong will be advising on as part of the company’s stated transformation efforts. InvestingPro analysis reveals 14 additional key insights about AirNet’s financial health and market position, available to subscribers.

In other recent news, AirNet Technology Inc. has announced it regained compliance with Nasdaq’s minimum bid price requirement. The company received formal notification from Nasdaq on July 24, 2025, confirming that its ordinary shares maintained a closing bid price of $1.00 or higher for ten consecutive business days. Despite this positive development, AirNet Technology has been notified by the Nasdaq Listing Qualifications Staff that it currently does not meet the Nasdaq Capital Market’s minimum stockholders’ equity requirement. The company reported stockholders’ equity below the required $2.5 million threshold in its annual Form 20-F for the year ending December 31, 2024. This notice does not immediately affect the listing of AirNet’s American depositary shares on Nasdaq. AirNet must submit a compliance plan by June 27, 2025, to address the equity shortfall. If accepted, Nasdaq may grant an extension of up to 180 days for AirNet to regain compliance.

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