Summary by Moomoo AI
Jin Medical International Ltd. has announced that it has regained compliance with the Nasdaq's minimum public holder requirement, as per the Nasdaq Listing Rule 5550(a)(3). The company had previously been notified of non-compliance on September 25, 2023, due to having fewer than the required 300 public holders. After failing to provide a detailed compliance plan, Jin Medical International faced potential delisting and requested a hearing with the Nasdaq Hearings Panel. The delisting was stayed pending a decision from the Panel, with a hearing scheduled for March 14, 2024. On February 29, 2024, the company was informed of its regained compliance status. However, Jin Medical International still faces an outstanding issue due to not filing its annual report on Form 20-F for the period ended September 30, 2023. The scheduled hearing will address this remaining deficiency. The company is actively working on remedial actions to comply with the periodic filing requirements.