Qilian International Holding Group Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
Qilian International Holding Group Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
Qilian International Holding Group Ltd (NASDAQ:QLI) ("Qilian" or the "Company"), a China-based pharmaceutical and chemical products manufacturer, received notification (the "Notification Letter") from The Nasdaq Stock Market LLC ("Nasdaq"), dated July 13, 2023, that the Company is not in compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rules for continued listing on The Nasdaq Global Market (the "Nasdaq Global Market"). The Notification Letter is only a notification of deficiency and not a notice of delisting.
总部位于中国的医药和化工产品制造商启联国际控股集团有限公司（纳斯达克股票代码：QLI）（“启联” 或 “公司”）于2023年7月13日收到纳斯达克股票市场有限责任公司（“纳斯达克全球市场”）的通知（“通知信”），称该公司未遵守纳斯达克上市规则中规定的继续在纳斯达克全球市场（“纳斯达克全球市场”）上市的最低出价要求”）。通知信只是缺陷通知，不是除名通知。
Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's ordinary shares for the 30 consecutive business days from May 30, 2023 to July 12, 2023, the Company no longer meets the minimum bid price requirement.
纳斯达克上市规则5450 (a) (1) 要求上市证券将最低出价维持在每股1.00美元，纳斯达克上市规则5810 (c) (3) (A) 规定，如果缺口持续30个工作日，则不符合最低出价要求。根据2023年5月30日至2023年7月12日连续30个工作日公司普通股的收盘价，公司不再符合最低出价要求。
The Notification Letter does not impact the Company's listing on the Nasdaq Global Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until January 9, 2024 (the "Compliance Period"), to regain compliance with Nasdaq Listing Rule 5450(a)(1). To regain compliance, the Company's ordinary shares must have a closing bid price of at least US$1.00 for a minimum for 10 consecutive business days, and shall not have a closing bid price of $0.10 or less for ten consecutive trading days during the Compliance Period. In the event the Company does not regain compliance by January 9, 2024, the Company may be eligible for additional time to regain compliance or may face delisting, as the case may be.
通知信不影响公司目前在纳斯达克全球市场的上市。根据纳斯达克上市规则5810 (c) (3) (A)，公司有180个日历日，或在2024年1月9日（“合规期”）之前，重新遵守纳斯达克上市规则5450 (a) (1)。为了恢复合规，公司普通股的收盘价必须在连续10个工作日内至少为1.00美元，并且在合规期内连续十个交易日的收盘价不得低于0.10美元。如果公司在2024年1月9日之前仍未恢复合规，则公司可能有资格获得更多时间来恢复合规，或者可能面临退市（视情况而定）。
The Company's business operations are not affected by the receipt of the Notification Letter. The Company intends to monitor the closing bid price of its ordinary shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding ordinary shares, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.
收到通知信后，公司的业务运营不受影响。公司打算监控其普通股的收盘价，并可能在适当时考虑实施可用期权，包括但不限于对其已发行普通股进行反向分股，以重新遵守纳斯达克上市规则下的最低出价要求。