{"id":73195,"date":"2024-03-20T02:38:05","date_gmt":"2024-03-20T02:38:05","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/sunrise-announces-receipt-of-nasdaq-notification-regarding-minimum-bid-price-requirement\/"},"modified":"2024-03-20T02:38:05","modified_gmt":"2024-03-20T02:38:05","slug":"sunrise-announces-receipt-of-nasdaq-notification-regarding-minimum-bid-price-requirement","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/sunrise-announces-receipt-of-nasdaq-notification-regarding-minimum-bid-price-requirement\/","title":{"rendered":"Sunrise Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Requirement"},"content":{"rendered":"
\n

ZIBO, China, March 19, 2024 (GLOBE NEWSWIRE) — Sunrise New Energy Co., Ltd. (\u201cSunrise\u201d, the \u201cCompany\u201d, \u201cwe\u201d or \u201cour\u201d) (NASDAQ: EPOW), today announced that it has received a letter (the “Notification Letter”) from the Nasdaq Stock Market LLC (“Nasdaq”) on March 14, 2024, notifying the Company that it no longer meets the minimum bid price requirement set forth in the Nasdaq Listing Rules. The Notification Letter has no immediate impact on the listing or trading of the Company\u2019s shares on Nasdaq. The Notification Letter does not affect the Company\u2019s business operations, its U.S. Securities and Exchange Commission reporting requirements, or contractual obligations.<\/p>\n

Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company’s Class A ordinary shares for the 30 consecutive business days from January 30, 2024 to March 14, 2024, the Company no longer meets the minimum bid price requirement.<\/p>\n

The Notification Letter does not impact the Company’s listing on the Nasdaq Capital Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until September 10, 2024, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the Company’s Class A ordinary shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days. In the event the Company does not regain compliance by September 10, 2024, the Company may be eligible for an additional 180 calendar days to regain compliance or may face delisting.<\/p>\n

The Company’s business operations are not affected by the receipt of the Notification Letter. The Company intends to monitor the closing bid price of its Class A ordinary shares and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.<\/p>\n

About Sunrise New Energy Co., Ltd<\/p>\n

Headquartered in Zibo, Shandong Province, China, Sunrise New Energy Co., Ltd., through its joint venture, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. The Company\u2019s joint venture is constructing a\u00a0260,543\u00a0\u33a1manufacturing plant in Guizhou Province, China. The plant runs on inexpensive electricity from renewable sources, which helps to make Sunrise New Energy a low-cost and low\u2013environmental-impact producer of graphite anode material.\u00a0Mr.\u00a0Haiping Hu, the founder and CEO of\u00a0the Company, is\u00a0a\u00a0major pioneer for the graphite anode industry in China starting from 1999.\u00a0The Company\u2019s management team is\u00a0also\u00a0composed of experts\u00a0with\u00a0years of experiences\u00a0and strong track-records of success in the graphite anode industry. In addition,\u00a0the Company\u00a0also operates a knowledge sharing platform in China. For further information, please visit the Company\u2019s website at\u00a0www.sunrisenewenergy.com<\/a>. The Company maintains a Twitter account (@sunrisenewener1) to keep investors up to date on the latest development of the Company.<\/p>\n

Forward-looking statement<\/p>\n

Certain statements in this press release regarding the Company’s future expectations, plans and prospects constitute forward-looking statements as defined by Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions and any other factual statements that have not occurred. Any words that refer to “may”,\u00a0“will”, “want”, “should”, “believe”, “expect”, “expect”, “estimate”, “estimate” or similar non-factual words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical\u00a0results\u00a0or the contents expressed in these forward-looking statements. These factors include, but are not limited to, the company’s strategic objectives, the company’s future plans, market demand and user acceptance of the company’s products or services, technological updates, economic trends, the company’s reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, the ups and downs of China’s macroeconomic conditions, the relevant international market conditions, and\u00a0other\u00a0related risks and assumptions disclosed in the Company\u2019s Annual Report on Form 20-F published on the SEC\u2019s website. In view of the above and other related reasons, we urge investors to visit the SEC\u2019s\u00a0website and consider other factors that may affect the Company’s future operating results. The Company is under no obligation to make public amendments to changes in these forward-looking statements unless required by law.<\/p>\n

For more information, please contact:<\/p>\n

The Company:
IR Department
Email:\u00a0IR@sunrisenewenergy.com<\/a>
Phone:\u00a0+86 4009919228<\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

ZIBO, China, March 19, 2024 (GLOBE NEWSWIRE) — Sunrise New Energy Co., Ltd. (\u201cSunrise\u201d, the \u201cCompany\u201d, \u201cwe\u201d or \u201cour\u201d) (NASDAQ: EPOW), today announced that it has received a letter (the “Notification Letter”) from the Nasdaq Stock Market LLC (“Nasdaq”) on March 14, 2024, notifying the Company that it no longer meets the minimum bid price […]<\/p>\n","protected":false},"author":2,"featured_media":73196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/bde0563a-fa9f-4ccc-a7bb-4b12fcbaec8e","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-73195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/73195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=73195"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/73195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/73196"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=73195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=73195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=73195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}