PME - PME STOCK NEWS

Pingtan Marine Enterprise Ltd. (Nasdaq: PME) announced the successful adoption of all proposed resolutions during its annual general meeting held on December 14, 2022, in Fuzhou, China. Key resolutions included the appointment of directors, ratification of Wei, Wei & Co, LLP as the independent accounting firm for the fiscal year ending December 31, 2022, and an increase in authorized share capital. These approvals are crucial for the company's corporate governance and financial structuring moving forward.

Pingtan Marine Enterprise Ltd. (Nasdaq: PME) announced that its stock has been suspended by Nasdaq following sanctions imposed by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC). The Company, along with its Chairman Xinrong Zhuo, is now listed on the Specially Designated Nationals (SDN List) due to OFAC's actions. The Company is assessing the impact of these sanctions and exploring measures to protect its interests and that of its shareholders, including options to seek removal from the SDN List.

Pingtan Marine Enterprise Ltd. (Nasdaq: PME) announced it will hold its 2022 annual general meeting (AGM) on December 14, 2022, at 10:00 a.m. China Standard Time in Fuzhou, China. The AGM aims to discuss proposed resolutions outlined in the AGM Notice, available online. Shareholders on record as of October 28, 2022, are invited to attend. Pingtan primarily engages in ocean fishing operations through its subsidiary in the People's Republic of China, conducting activities in both international and approved local waters.

Pingtan Marine Enterprise Ltd. (Nasdaq: PME) announced it received a notification from Nasdaq indicating that its stock had closed below the minimum bid price of $1.00 for 30 consecutive business days as of October 24, 2022. The Company has until April 24, 2023, to regain compliance with this requirement. If the stock closes at or above $1.00 for ten consecutive business days within this period, Nasdaq will confirm compliance. The notification does not currently affect its business operations or reporting obligations.

Pingtan Marine Enterprise Ltd. (Nasdaq: PME) reported its financial results for the six months ending June 30, 2022, reflecting a 10.8% revenue increase to $72.2 million, with a significant 46.4% rise in sales volume. The company achieved a gross profit of $13.5 million, contrasting with a gross loss of $1.2 million for the same period last year. However, it sustained a net loss of $8.6 million, improved from $12.6 million in 2021. Challenges remain due to COVID-19's impact, affecting market consumption and operational strategies.

Pingtan Marine Enterprise Ltd. (Nasdaq: PME) announced compliance with Nasdaq's minimum bid price requirement as of June 29, 2022. The company received a notice from Nasdaq confirming that its share price was at least $1.00 for 16 consecutive business days, from June 2 to June 24, 2022. This follows a previous notification in June 2021 when the stock price fell below the required minimum. With this compliance, Pingtan's ordinary shares can continue listing on the Nasdaq Capital Market.

Pingtan Marine Enterprise Ltd. (Nasdaq: PME) announced financial results for Q4 and fiscal year 2021. Revenue surged by 102.5% year-over-year to $62.8 million in Q4, while the annual revenue reached $164.1 million, an 88.1% increase. The net income for Q4 was $6.7 million, or $0.08 per share, a recovery from a net loss of $79.7 million in Q4 2020. Despite this, gross losses remained high, with a margin of 11.8% in Q4. The company plans to strengthen production capacity and has suspended the construction of certain vessels to recover funds.

Pingtan Marine Enterprise Ltd. (Nasdaq: PME), a fishing company in China, received a 180-day extension from Nasdaq to comply with the minimum bid price requirement. The notification was issued on December 28, 2021, allowing the company until June 27, 2022, to ensure its shares trade at or above $1.00 for 10 consecutive days. This extension does not impact the current listing status of PME. The company is monitoring its share price and considering options to regain compliance if necessary.

Pingtan Marine Enterprise Ltd. (Nasdaq: PME) announced the approval of key resolutions during its annual general meeting held on December 23, 2021, in Fuzhou, China. Shareholders elected XingAn Lin and Lin Lin as Class C directors for a three-year term, expiring at the 2024 annual meeting. Additionally, Wei, Wei & Co, LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2021. This meeting reflects Pingtan's commitment to governance and financial oversight.