Graphjet receives Nasdaq compliance notice over delayed quarterly filing

NEW YORK - Graphjet Technology (NASDAQ:GTI) announced Monday it has received a notice from Nasdaq regarding non-compliance with listing requirements after failing to file its quarterly report for the period ended June 30, 2025. The micro-cap company, currently valued at $13.65 million, has seen its shares plummet 97% over the past year.

The notice, received on August 20, states that Graphjet is not in compliance with Nasdaq Listing Rule 5250(c)(1) due to the delayed Form 10-Q filing with the Securities and Exchange Commission.

According to the company’s statement, the notice does not immediately affect Graphjet’s listing status on The Nasdaq Global Market, where its shares will continue to trade under the symbol GTI.

Nasdaq has requested Graphjet to present its views regarding the notice in writing by August 27. The company previously agreed with Nasdaq to regain compliance before September 15, 2025, and stated it is "working diligently" to complete and file the required quarterly report by this deadline.

Graphjet Technology, founded in 2019 in Malaysia, develops technology to recycle palm kernel shells to produce single-layer graphene and artificial graphite. The company completed its Nasdaq listing under the GTI symbol, according to the press release statement.

The information in this article is based on a company press release.

In other recent news, Graphjet Technology announced that its graphite production now meets the standards required for use as battery anode material. This development comes as the company plans to finalize collaborations and supply agreements with customers in the coming weeks. Additionally, Graphjet has partnered with the Centre for Materials Engineering and Smart Manufacturing at Universiti Kebangsaan Malaysia to develop advanced heat sinks using graphite and graphene. This collaboration is part of the Consortium of Research Excellence 2025 under the Malaysian Ministry of Higher Education.

Furthermore, Graphjet Technology’s shareholders have approved a 1-for-60 share consolidation, set to take effect on August 25, 2025. The consolidation will reduce the par value of the company’s ordinary shares from $0.0001 to $0.006 per share. In another development, the company has received new machinery and equipment at its Malaysian factory, with installation and testing expected to be completed soon. These advancements signify Graphjet’s ongoing efforts to enhance its production capabilities and strategic partnerships.

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