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Intelligent Living Application Group Inc. Regains Compliance with Nasdaq's Minimum Bid Price Rule

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Intelligent Living Application Group Inc. (NASDAQ: ILAG), a premium lockset manufacturer based in Hong Kong, has successfully regained compliance with Nasdaq's minimum bid price rule. The company received official notification from Nasdaq's Listing Qualifications Department on September 13, 2024, confirming that the closing bid price of ILAG's ordinary shares had remained at $1.00 or higher for 10 consecutive trading days, from August 28 to September 12, 2024. This achievement ensures ILAG's continued listing on the Nasdaq Stock Market, as it now meets the requirements of Nasdaq Listing Rule 5550(a)(2).

Intelligent Living Application Group Inc. (NASDAQ: ILAG), un produttore di serrature di alta qualità con sede a Hong Kong, ha ripristinato con successo la conformità con la regola sul prezzo minimo delle azioni di Nasdaq. L'azienda ha ricevuto una notifica ufficiale dal Dipartimento delle Qualifiche di Quotazione di Nasdaq il 13 settembre 2024, confermando che il prezzo di chiusura delle azioni ordinarie di ILAG era rimasto pari a $1,00 o superiore per 10 giorni di negoziazione consecutivi, dal 28 agosto al 12 settembre 2024. Questo risultato garantisce la continua quotazione di ILAG sul mercato azionario Nasdaq, poiché ora soddisfa i requisiti della Regola di Quotazione Nasdaq 5550(a)(2).

Intelligent Living Application Group Inc. (NASDAQ: ILAG), un fabricante de cerraduras de alta gama con sede en Hong Kong, ha recuperado con éxito el cumplimiento de la regla del precio mínimo de oferta de Nasdaq. La compañía recibió una notificación oficial del Departamento de Calificaciones de Cotización de Nasdaq el 13 de septiembre de 2024, confirmando que el precio de cierre de las acciones ordinarias de ILAG se había mantenido en $1.00 o más durante 10 días de negociación consecutivos, desde el 28 de agosto hasta el 12 de septiembre de 2024. Este logro asegura la continua cotización de ILAG en el mercado de valores de Nasdaq, ya que ahora cumple con los requisitos de la Regla de Cotización de Nasdaq 5550(a)(2).

인텔리전트 리빙 애플리케이션 그룹 Inc. (NASDAQ: ILAG), 홍콩에 본사를 둔 프리미엄 잠금 장치 제조업체가 나스닥의 최소 공모가 규정을 성공적으로 회복했습니다. 회사는 2024년 9월 13일 나스닥 상장 자격 부서로부터 공식 통지를 받았으며, ILAG의 보통주 종가가 $1.00 이상으로 10 거래일 연속 유지되었음을 확인했습니다. 이 성과는 ILAG가 나스닥 주식 시장에 계속 상장될 수 있도록 보장하며, 이제 나스닥 상장 규칙 5550(a)(2) 요구 사항을 충족하게 되었습니다.

Intelligent Living Application Group Inc. (NASDAQ: ILAG), un fabricant de serrures haut de gamme basé à Hong Kong, a réussi à retrouver sa conformité avec la règle du prix minimal des offres de Nasdaq. L'entreprise a reçu une notification officielle du Département des qualifications de cotation de Nasdaq le 13 septembre 2024, confirmant que le prix de clôture des actions ordinaires d'ILAG était resté à $1,00 ou plus pendant 10 jours de négociation consécutifs, du 28 août au 12 septembre 2024. Cette réussite garantit la poursuite de la cotation d'ILAG sur le marché boursier Nasdaq, car elle répond désormais aux exigences de la règle de cotation Nasdaq 5550(a)(2).

Intelligent Living Application Group Inc. (NASDAQ: ILAG), ein Hersteller von Premium-Schlossanlagen mit Sitz in Hongkong, hat erfolgreich die Einhaltung der Mindestangebotspreisregel von Nasdaq wiederhergestellt. Das Unternehmen erhielt am 13. September 2024 eine offizielle Mitteilung von der Abteilung für Listing-Bewertungen von Nasdaq, dass der Schlusskurs der Stammaktien von ILAG 10 aufeinanderfolgende Handelstage lang bei $1,00 oder höher geblieben war, vom 28. August bis zum 12. September 2024. Dieser Erfolg stellt sicher, dass ILAG weiterhin an der Nasdaq-Börse gelistet bleibt, da es nun die Anforderungen der Nasdaq-Listing-Regel 5550(a)(2) erfüllt.

Positive
  • Regained compliance with Nasdaq's minimum bid price rule
  • Maintained closing bid price of $1.00 or higher for 10 consecutive trading days
  • Secured continued listing on Nasdaq Stock Market
Negative
  • None.

Insights

Intelligent Living's compliance with Nasdaq's minimum bid price rule is a positive development for the company, albeit with immediate financial impact. This news primarily affects the company's listing status rather than its fundamental business operations.

Regaining compliance removes the immediate threat of delisting, which is important for maintaining investor confidence and access to capital markets. However, investors should note that this doesn't necessarily indicate improved financial performance or business prospects.

The 10-day period of sustained $1+ share price suggests some level of market confidence, but it's essential to investigate the underlying factors driving this price movement. Was it due to improved fundamentals, market speculation, or perhaps a technical bounce?

Long-term investors should focus on Intelligent Living's business performance, growth strategy and market position in the premium lockset manufacturing sector rather than solely on its listing status.

While regaining Nasdaq compliance is positive news for Intelligent Living, it's important to contextualize this within broader market trends. The premium lockset manufacturing sector, particularly in Hong Kong, may face challenges due to economic uncertainties and real estate market fluctuations.

Investors should consider:

  • How Intelligent Living's product demand correlates with Hong Kong's property market trends
  • The company's competitive position and market share in the premium lockset segment
  • Potential for expansion into new markets or product diversification

The sustained $1+ share price could indicate improved market perception, but it's essential to differentiate between short-term price movements and long-term value creation. Thorough analysis of Intelligent Living's financial health, growth strategies and industry positioning is necessary for a comprehensive investment decision.

HONG KONG, Sept. 16, 2024 /PRNewswire/ -- Intelligent Living Application Group Inc. (NASDAQ: ILAG) ("Intelligent Living" or the "Company"), a premium lockset manufacturer in Hong Kong, announced today that it has regained compliance with the $1 minimum bid price requirement under the continued listing requirements of the Nasdaq Stock Market LLC ("Nasdaq").

On September 13, 2024, the Company received a written notification from Nasdaq's Listing Qualifications Department stating that the closing bid price of the Company's ordinary shares has been $1.00 per share or greater for 10 consecutive trading days, from August 28, 2024 to September 12, 2024. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2).

About Intelligent Living Application Group Inc.

Intelligent Living Application Group Inc. ("ILAG") is a premium lockset manufacturer headquartered in Hong Kong. It manufactures and sells high quality mechanical locksets to customers mainly in the United States and Canada and has continued to diversify and refine its product offerings in the past 40 years to meet its customers' needs. ILAG has obtained the ISO9001 quality assurance certificate and various accredited quality and safety certificates including American National Standards Institute (ANSI) Grade 2 and Grade 3 standards that are developed by the Builders Hardware Manufacturing Association (BHMA) for ANSI. ILAG keeps investing in self-designed automated product lines, new craftsmanship and developing new products including smart locks and smart home security devices. For more information, visit the Company's website at http://www.i-l-a-g.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC, which are available for review at www.sec.gov.

Cision View original content:https://www.prnewswire.com/news-releases/intelligent-living-application-group-inc-regains-compliance-with-nasdaqs-minimum-bid-price-rule-302248829.html

SOURCE Intelligent Living Application Group Inc.

FAQ

When did Intelligent Living Application Group (ILAG) regain compliance with Nasdaq's minimum bid price rule?

Intelligent Living Application Group (ILAG) regained compliance with Nasdaq's minimum bid price rule on September 13, 2024, as confirmed by a notification from Nasdaq's Listing Qualifications Department.

What was the minimum bid price requirement for ILAG to maintain Nasdaq listing?

The minimum bid price requirement for ILAG to maintain its Nasdaq listing was $1.00 per share, as per Nasdaq Listing Rule 5550(a)(2).

How long did ILAG's stock price need to stay above $1.00 to regain compliance?

ILAG's stock price needed to stay at or above $1.00 for 10 consecutive trading days to regain compliance. This occurred from August 28, 2024 to September 12, 2024.

What is Intelligent Living Application Group's (ILAG) main business?

Intelligent Living Application Group (ILAG) is described as a premium lockset manufacturer based in Hong Kong.

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