Welcome to our dedicated page for Qilian International Holding Group Ltd. Ordinary Shares news (Ticker: QLI), a resource for investors and traders seeking the latest updates and insights on Qilian International Holding Group Ltd. Ordinary Shares stock.
Qilian International Holding Group Ltd (NASDAQ: QLI) is a China-based pharmaceutical and chemical company headquartered in Gansu. The company is engaged in the development, manufacture, marketing, and sale of various products such as licorice products, oxytetracycline products, traditional Chinese medicine derivatives, heparin products, sausage casings, and fertilizers. These products are distributed across more than 20 provinces in China.
Core Business Segments
- Oxytetracycline and Licorice Products and TCMD: This segment generates the majority of the company's revenue. Oxytetracycline is an antibiotic, while licorice products are used in traditional Chinese medicine.
- Fertilizer: Qilian produces chemical fertilizers which support agricultural productivity.
- Heparin Products and Sausage Casings: Heparin is a critical biomedical raw material used for its anticoagulant properties. This segment also includes the production of sausage casings used in the food industry.
Recent Developments
In July 2023, Qilian received a Notification Letter from Nasdaq indicating non-compliance with the minimum bid price requirement. The company has until January 9, 2024, to regain compliance by achieving a closing bid price of at least US$1.00 for 10 consecutive business days. In January 2024, Nasdaq granted the company an additional 180 days to meet the bid price requirement, extending the deadline to July 8, 2024.
In response to market challenges such as declining demand and increased operational costs for oxytetracycline, Qilian has announced a strategic shift. The company plans to reduce investments in oxytetracycline and focus more on heparin sodium, licorice products, and ventures in the financial and software development sectors.
Financial Health and Future Plans
The company's business operations remain unaffected by the Nasdaq notifications, and it continues to focus on growth and efficiency. To regain compliance, Qilian is considering options such as a reverse share split. Additionally, by bolstering investments in heparin sodium and licorice products, and exploring new growth areas like financial products and software development, Qilian aims to enhance overall competitiveness and profitability to create greater value for shareholders.
Qilian International Holding Group , a China-based pharmaceutical and chemical products manufacturer, has announced a change in its trading ticker symbol on the Nasdaq Capital Market. Effective August 11, 2024, the company's Class A ordinary shares will trade under the new symbol 'BGM', replacing the current symbol 'QLI'. This change does not require any action from shareholders, and the company's CUSIP number remains unchanged. Qilian will continue to be listed on the Nasdaq Capital Market.
Qilian International Holding Group (NASDAQ: QLI), a China-based pharmaceutical and chemical products manufacturer, has regained compliance with NASDAQ's minimum bid price rule. On July 10, 2024, NASDAQ informed Qilian that for ten consecutive business days, from June 21 to July 9, 2024, the closing bid price of its Class A ordinary shares remained at or above $1.00 per share. This compliance with Listing Rule 5550(a)(2) means NASDAQ has closed the matter.
Qilian International Holding Group (NASDAQ: QLI) has announced a 1 for 5 reverse share split, effective June 21, 2024. Approved on May 29, 2023, this split will reduce the number of issued and outstanding Class A and Class B ordinary shares. The new Class A shares are expected to trade at five times their previous price, though this is not guaranteed. Shareholders will receive one new share for every five shares held. Post-split, Qilian's authorized share capital will consist of 70 million Class A shares, 20 million Class B shares, and 10 million preferred shares. Fractional shares will be rounded up to the nearest whole share.
Qilian International (NASDAQ: QLI) has announced plans to adjust its industrial investments in response to declining demand and increasing costs in its oxytetracycline sector. The company will significantly reduce its investment in oxytetracycline and increase its focus on heparin sodium, a biomedical raw material with promising market potential. Additionally, Qilian will expand its licorice product line and invest in financial technology and software development. These strategic shifts aim to optimize resource allocation, boost efficiency, and enhance overall competitiveness and profitability.
Qilian International Holding Group (NASDAQ: QLI) announced it has regained compliance with NASDAQ Listing Rule 5250(c)(1) after filing its annual report on Form 20-F on April 19, 2023. This report covered the financial year ended September 30, 2022, and resolved previous non-compliance issues cited in a notice received on February 16, 2023. Following the filing, NASDAQ confirmed the matter closed on April 20, 2023. Qilian, based in Gansu, China, specializes in manufacturing pharmaceutical and chemical products, including licorice and oxytetracycline products, serving over 20 provinces in China. The company emphasizes the importance of meeting regulatory requirements to maintain its listing status.
Qilian International Holding Group Ltd (NASDAQ: QLI) announced on February 23, 2023, that it received a notice of non-compliance from Nasdaq for not timely filing its annual report on Form 20-F for the year ending September 30, 2022. This notice does not immediately affect Qilian’s listing or trading on Nasdaq. The company has 60 days to submit a compliance plan, and if accepted, it could gain an additional 180 days until August 14, 2023, to comply with Nasdaq Listing Rule 5250(c)(1).
Qilian, based in Gansu, China, manufactures pharmaceutical and chemical products, selling in over 20 provinces.
On February 16, 2023, Qilian International Holding Group Ltd (NASDAQ: QLI) announced a special one-time cash dividend of
Qilian International Holding Group Limited (Nasdaq: QLI) reported financial results for the first six months of fiscal year 2022, ending March 31, 2022, showing revenues of approximately $32.1 million, up 7% year-over-year. However, net income plummeted by 89% to $249,681, primarily due to rising raw material costs. Gross profit decreased by 31% to $2.8 million, reflecting a decline in gross margin from 13.7% to 8.8%. The company expects growth in 2023 with the completion of ongoing construction projects and improved pandemic control.
FAQ
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