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Ganzhou, China - Elong Power Holding Limited (NASDAQ:ELPW), a manufacturer of high-power lithium-ion batteries, has been notified by Nasdaq of non-compliance with market value and minimum bid price requirements. With a current market capitalization of $44.34 million and trading at $0.7 per share, the company remains below the $50 million threshold. The stock has lost over 93% of its value in the past year, according to InvestingPro data, which shows the company’s financial health score at a concerning 0.34 (Weak).
Elong Power has until September 15, 2025, to meet the market value requirement and until September 16, 2025, to resolve the bid price deficiency. Compliance necessitates a closing market value of at least $50 million and a closing bid price of $1.00 or more for a minimum of ten consecutive business days. Nasdaq may extend this compliance period up to 20 business days at its discretion. InvestingPro subscribers can access 8 additional key insights about ELPW’s financial stability and market performance, helping investors make more informed decisions during this critical period.
Failure to regain compliance within the 180-day period could lead to delisting of Elong Power’s securities. However, these notices do not currently impact the trading of the company’s ordinary shares, which will continue under the ticker ELPW. The stock currently trades with an average daily volume of 100,000 shares over the past three months, with its 52-week range between $0.56 and $12.60.
Elong Power specializes in the R&D, production, and sales of batteries for electric vehicles and energy storage systems. Led by Chairwoman and CEO Xiaodan Liu, the company provides a range of battery technologies, including lithium manganese oxide and lithium iron phosphate, catering to various high-power and energy storage applications.
This announcement is based on a press release statement and comes amid volatile market conditions and regulatory challenges faced by companies within the highly competitive and regulated battery industry. The company’s future efforts to maintain its Nasdaq listing and address these compliance issues remain uncertain.
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