Welcome to our dedicated page for J-Long Group Ordinary Shares news (Ticker: JL), a resource for investors and traders seeking the latest updates and insights on J-Long Group Ordinary Shares stock.
J-Long Group Limited (NASDAQ: JL) is a prominent distributor based in Hong Kong specializing in both reflective and non-reflective garment trims. Their extensive product range includes heat transfers, fabrics, woven labels, tapes, sewing badges, piping, zipper pullers, and drawcords. They are recognized for offering comprehensive apparel solutions that address customer needs from market trend analysis to product design, development, production, and rigorous quality control.
In recent achievements, as of September 30, 2023, J-Long Group reported cash reserves of US$768,159, total current assets of US$17,018,359, and total current liabilities of US$6,259,310. This results in net current assets of US$10,759,049 and a working capital ratio of 0.36. Total assets amounted to US$20,753,700 with total liabilities at US$7,986,428, and the company’s stockholders' equity was valued at US$12,767,272, leading to a gearing ratio of 18.3%.
On the regulatory front, J-Long Group received a notice on May 16, 2024, from Nasdaq indicating non-compliance with the $1.00 minimum bid price requirement. The company has until November 11, 2024, to regain compliance by ensuring its share price meets or exceeds $1.00 for at least ten consecutive business days. The company is monitoring the situation closely and may opt for a reverse stock split if necessary.
J-Long Group is dedicated to maintaining its Nasdaq Global Market listing and continues to trade under the symbol “JL.” The company’s strategic commitments and transparent financial reporting ensure stakeholders are well-informed and confident in its future direction.
J-Long Group (JL) received a Determination Letter from Nasdaq stating the company failed to maintain compliance with the minimum bid price requirement of $1 per share over 30 consecutive business days. After the initial 180-day compliance period ending November 11, 2024, the company faces potential delisting from Nasdaq Global Market. The company has until November 25, 2024, to appeal and request a hearing by paying a $20,000 fee. J-Long intends to submit an appeal and is considering a reverse stock split to regain compliance. Trading will continue until Nasdaq makes a final determination.
J-Long Group (Nasdaq: JL) has received a notification from Nasdaq on September 3, 2024, stating that the company is not in compliance with the minimum market value of publicly held shares (MVPHS) requirement for continued listing on the Nasdaq Global Market. The company's MVPHS has fallen below the required $5,000,000 for 30 consecutive business days. JL has been given until March 3, 2025, to regain compliance by maintaining an MVPHS of $5,000,000 or more for at least 10 consecutive business days. If compliance is not achieved, the company's shares may be subject to delisting, although JL can appeal or consider transferring to the Nasdaq Capital Market. The company's business operations remain unaffected, and it intends to explore options to regain compliance within the given timeframe.
J-Long Group (NASDAQ: JL) announced that it received a deficiency notice from Nasdaq regarding non-compliance with the $1.00 minimum bid price requirement for its ordinary shares. The company has until November 11, 2024, to meet this requirement by having its share price exceed $1.00 for at least ten consecutive business days. While this notice does not immediately affect the listing of JL shares on the Nasdaq Global Market, the company is considering options, including a reverse stock split, to regain compliance. If unsuccessful by the deadline, JL may get an additional 180-day period to comply.
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