Elong Power receives Nasdaq notification of non-compliance

BEIJING - Elong Power Holding Limited (NASDAQ:ELPW) announced Thursday that it received notification letters from Nasdaq indicating the company is not in compliance with multiple listing requirements. The company’s stock, currently trading at $0.43, has declined over 95% in the past year, according to InvestingPro data.

The notification, dated October 3, 2025, cited three specific deficiencies: failure to maintain a minimum closing bid price of $1.00 per share, market value of listed securities below the required $50 million minimum, and market value of publicly held shares below the $15 million threshold for continued listing on the Nasdaq Global Market. InvestingPro data shows the company’s current market capitalization stands at approximately $31 million, with concerning financial health indicators including a weak current ratio of 0.51.

Elong Power has been granted a 180-day compliance period until April 1, 2026, to address these issues. During this period, the company’s ordinary shares will continue trading on the Nasdaq Global Market.

To regain compliance, the company must maintain a closing bid price at or above $1.00 per share for a minimum of ten consecutive trading days. Additionally, its market value of listed securities must close at or above $50 million and its market value of publicly held shares must exceed $15 million for at least ten consecutive business days.

The company stated it intends to monitor these metrics and take "all reasonable measures" to regain compliance before the deadline. Elong Power noted it remains in compliance with all other Nasdaq continued listing standards and that the notification does not affect its business operations or SEC reporting requirements.

Elong Power Holding Limited develops and manufactures high-power lithium-ion batteries for electric vehicles, construction machinery, and energy storage systems. The information in this article is based on a company press release. InvestingPro analysis reveals significant operational challenges, with negative gross profit margins and minimal revenue of $0.39 million in the last twelve months. Subscribers can access 15+ additional ProTips and comprehensive financial metrics to monitor the company’s compliance progress.

In other recent news, Elong Power Holding Limited has received a notice from Nasdaq due to the delayed filing of its annual report for the fiscal year ending December 31, 2024. The company is currently not in compliance with Nasdaq Listing Rule 5250(c)(1), which mandates the timely submission of all periodic financial reports to the Securities and Exchange Commission. This development highlights a significant compliance issue for Elong Power, which investors may find concerning. The notice from Nasdaq serves as a reminder of the importance of adhering to regulatory requirements for companies listed on major stock exchanges. As the situation unfolds, stakeholders will be closely monitoring Elong Power’s actions to address this filing delay.

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