BEIJING (dpa-AFX) - Hongli Group Inc. (HLP) announced it received a notice from Nasdaq on July 10, 2025, stating the company is not in compliance with the $1.00 minimum bid price requirement, as its ordinary shares traded below this threshold between May 27 and July 9, 2025.
While the notice does not immediately affect Hongli's listing, the company has 180 calendar days-until January 6, 2026, to regain compliance. If the stock closes at or above $1.00 for at least 10 consecutive business days within this period, the company will be considered compliant. Hongli may also conduct a reverse stock split, which must be completed at least 10 business days before the compliance deadline if needed.
Should Hongli fail to meet the requirement in the initial timeframe, it may qualify for an additional 180-day extension if it satisfies other Nasdaq listing standards and formally commits to resolving the deficiency, potentially through a reverse split. If not, the company risks delisting.
Hongli stated it is monitoring share prices and assessing options but noted there is no guarantee of regaining compliance or securing an extension.
HLP currently trades at $0.6776 or 1.4543% lower on the NasdaqCM.
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