Qilian International Holding Group Ltd Regained Compliance with Nasdaq's Minimum Bid Price Rule

Rhea-AI Summary

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.

Positive

• Qilian International Holding Group has regained compliance with NASDAQ's minimum bid price rule.
• The closing bid price of QLI's Class A ordinary shares stayed at or above $1.00 per share for 10 consecutive business days.

Negative

• None.

CHENGDU, China, July 12, 2024 /PRNewswire/ -- Qilian International Holding Group Limited (NASDAQ: QLI) ("Qilian" or the "Company"), a China-based pharmaceutical and chemical products manufacturer, today announced that on July 10, 2024, NASDAQ notified the Company that it has determined that for the 10 consecutive business days, from June 21, 2024 to July 9, 2024, the closing bid price of the Company's Class A ordinary shares has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and NASDAQ has closed this matter.

About Qilian International Holding Group Ltd

Qilian International Holding Group Ltd, headquartered in Gansu, China, is a pharmaceutical and chemical products manufacturer in China. It focuses on the development, manufacture, marketing and sale of licorice products, oxytetracycline products, traditional Chinese medicine derivatives product, heparin product, sausage casings, and fertilizers. The Company's products are sold in more than 20 provinces in China. For more information, visit the Company's website at https://www.qilianholding.com/.

Safe Harbor Statement

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

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SOURCE Qilian International Holding Group Limited

FAQ

What recent compliance milestone did Qilian International Holding Group achieve?

Qilian International Holding Group regained compliance with NASDAQ's minimum bid price rule as of July 10, 2024.

When did Qilian International Holding Group close above $1 per share for 10 consecutive days?

From June 21, 2024, to July 9, 2024, Qilian International Holding Group 's shares closed at or above $1 per share.

What is NASDAQ's minimum bid price rule that Qilian International Holding Group complied with?

NASDAQ's minimum bid price rule (Listing Rule 5550(a)(2)) requires that the closing bid price of a company's shares remains at or above $1.00 per share.

How does NASDAQ notify companies of compliance status changes?

NASDAQ notifies companies via official communication when they regain compliance or if there are status changes regarding listing rules.