Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule
or Standard; Transfer of Listing.
On August 23, 2021, Pingtan Marine Enterprise Ltd. (the "Company") received an
additional delinquency notification letter (the "Notice") from the Listing
Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") indicating that
since the Company remains delinquent in filing its Annual Report on Form 10-K
for the fiscal year ended December 31, 2020 (the "Form 10-K") and its Quarterly
Report on Form 10-Q for the period ended March 31, 2021 (the "Q1 Form 10-Q"),
and the delay in the filing of its Quarterly Report on Form 10-Q for the period
ended June 30, 2021 (the "Q2 Form 10-Q"), the Company is not in compliance with
the timely filing requirement for continued listing under Nasdaq Listing Rule
5250(c)(1) (the "Rule"). The Rule requires listed companies to timely file all
required periodic financial reports with the U.S. Securities and Exchange
Commission. The Notice has no immediate effect on the listing or trading of the
Company's ordinary shares on the Nasdaq Capital Market.
As previously reported, the Company received a letter from Nasdaq on April 15,
2021 regarding its non-compliance with the Rule following the Company's delay in
filing its Form 10-K and a notice from the Staff on May 25, 2021 regarding its
non-compliance with the Rule following the Company's delay in filing its Q1 Form
10-Q. As required by these notices, Pingtan submitted a plan to Nasdaq on June
14, 2021 outlining its plan to regain compliance with respect to these
delinquent reports. The Company continues to engage in discussions with Nasdaq
regarding its plan to regain compliance.
On August 16, 2021, the Company filed a Notification of Late Filing on Form
12b-25 with the SEC, disclosing that, given the delay in filing the Form 10-K,
the Q1 Form 10-Q and the appointment of new independent public accounting firm
effective as of May 31, 2021, the Company was unable to file the Q2 Form 10-Q
within the prescribed time period without unreasonable effort or expense and
that it anticipated filing the Form 10-K, Q1 Form 10-Q and Q2 Form 10-Q on or
before October 12, 2021.
Item 7.01 Regulation FD Disclosure.
On August 26, 2021, the Company issued a press release announcing its receipt of
the Notice. A copy of the press release is furnished as Exhibit 99.1 to this
Form 8-K.
The information contained in this Item 7.01 and in the accompanying Exhibit 99.1
shall not be deemed filed for purposes of Section 18 of the Exchange Act or
otherwise subject to the liabilities of that section, or incorporated by
reference in any filing under the Exchange Act or the Securities Act, except as
shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) EXHIBITS
99.1 Press Release of Pingtan Marine Enterprise Ltd., dated August 26,
2021.
104 Cover Page Interactive Data File (the cover page XBRL tags are embedded
in the Inline XBRL document).
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PINGTAN MARINE ENTERPRISE LTD. 
