Pursuant to the Letter, the Company has 60 calendar days to submit to Nasdaq a plan to regain compliance from the date of receipt of the Letter and if the plan is accepted by Nasdaq, the Company will be granted an exception of up to 180 calendar days from the Form 20-F’s due date, or until
The Letter further stated that if the plan is not accepted by Nasdaq, the Company will have the opportunity to appeal that decision to a
The Letter has no immediate impact on the listing of the Company’s ordinary shares on the Nasdaq Capital Market.
The Company is working diligently on the Form 20-F and intends to file the Form 20-F as promptly as possible in order to regain compliance with the Nasdaq Listing Rule 5250(c)(1). However, if the Company fails to file the Form 20-F by
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Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. Investors can identify these forward-looking statements by words or phrases such as "approximates," "assesses," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or similar expressions. These forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, which may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the Company's ability to develop and sell new or improved products and services, raise capital, deliver customer orders timely, execute its business plans, and attract and retain customers and skilled professionals; risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, and general economic conditions affecting the Company's industry and other risks contained in reports filed by the Company with the
For investor and media inquiries please contact:YanGuFang International Group Co., Ltd. Investor Relations Department Email: ir@yangufang.com Christensen AdvisoryJenny Lam Assistant Vice President Phone: +852.2232.3928 Email: jenny.lam@christensencomms.com
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