China chip stocks rally on self-reliance bets, Nvidia scrutiny
PERTH, AUSTRALIA - Globavend Holdings Limited (NASDAQ:GVH), a company specializing in e-commerce logistics, has successfully met the Nasdaq’s minimum bid price requirement, ensuring the continuation of its stock listing. The Nasdaq Listing Qualifications Department confirmed that Globavend’s share price had closed at or above $1.00 for ten consecutive business days, from May 9 to May 22, 2025. Currently trading at $1.60, the stock has demonstrated remarkable momentum, surging over 150% in the past six months, according to InvestingPro data.
This development follows the company’s receipt of a notification letter indicating that it had fallen below the Nasdaq’s minimum bid price threshold. The recent compliance achievement marks an end to concerns regarding the company’s listing status. Globavend’s ordinary shares will continue to be traded on the Nasdaq under the ticker symbol "GVH." With a market capitalization of $27 million and a healthy current ratio of 1.96, InvestingPro analysis suggests the company maintains strong financial health, though current trading levels indicate the stock may be overvalued.
Globavend Holdings Limited provides end-to-end logistics solutions, catering primarily to enterprise customers involved in e-commerce, such as online merchants and platform operators. The company’s services facilitate business-to-consumer transactions across Hong Kong, Australia, and New Zealand. Their offerings include an array of logistics services, from parcel drop-off and consolidation to air-freight forwarding, customs clearance, and final delivery.
This announcement is based on a press release statement from Globavend Holdings Limited.
In other recent news, Globavend Holdings Limited has received preliminary approval for a business development grant of up to $900,000 from the Hong Kong government. This non-dilutive funding is part of the BUD Fund, aimed at helping local businesses expand into new markets, aligning with China’s 12th Five-Year Plan. The grant is intended to assist companies like Globavend in scaling operations and modernizing infrastructure. Frank Yau, CEO of Globavend, expressed confidence in the company’s eligibility for the grant and plans to use the funds to accelerate expansion into China. The approval-in-principle allows Globavend to pursue growth without affecting its capital structure. The company sees entry into the Chinese market as a natural progression, having already established its business model in Hong Kong, Australia, and New Zealand. Final approval of the grant is contingent upon full compliance with the BUD Fund’s eligibility criteria.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.