CBAK Energy Technology Receives Notice of Non-Compliance From Nasdaq

CBAK Energy Technology, Inc. (NASDAQ:CBAT) recently disclosed in a filing with the Securities and Exchange Commission that it has received a notice from The Nasdaq Stock Market LLC regarding its non-compliance with the minimum bid price requirement.

The notice, received on December 26, 2024, highlighted that CBAK Energy Technology is currently below the minimum bid price of $1.00 per share, as mandated by Nasdaq Listing Rule 5550(a)(2). According to Nasdaq Listing Rule 5810(c)(3)(A), a failure to meet this requirement over a consecutive 30-business-day period triggers non-compliance.

Despite this development, the company’s common stock will continue to trade on Nasdaq uninterrupted under the ticker symbol “CBAT.” CBAK Energy Technology now has a 180-day compliance period, ending on June 24, 2025, to rectify the bid price deficiency. During this period, if the closing bid price per share sustains at or above $1.00 for a minimum of 10 consecutive business days, Nasdaq will acknowledge the compliance.

If by June 24, 2025, CBAK Energy Technology fails to meet the minimum bid price requirement, they may qualify for an additional 180-day grace period. However, should the company not qualify for this extension or still not achieve compliance, Nasdaq will initiate the delisting process. In such a scenario, the company will have the opportunity to appeal the delisting determination before a Hearings Panel.

The report was duly signed by Jiewei Li, the Chief Financial Officer of CBAK Energy Technology, Inc., on December 27, 2024. Investors and stakeholders will be keen to monitor CBAK Energy Technology’s progress in meeting Nasdaq’s bid price requirement over the coming months.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CBAK Energy Technology’s 8K filing here.

CBAK Energy Technology Company Profile

CBAK Energy Technology, Inc, together with its subsidiaries, manufacture, commercialization, and distribution of lithium ion high power rechargeable batteries in Mainland China, the United States, Europe, and internationally. The company operates in two segments, CBAK and Hitrans. Its lithium batteries are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles, such as electric bicycles, electric motors, electric tricycles, and smaller-sized electric cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.