Chijet Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Compliance

Rhea-AI Summary

Chijet (NASDAQ: CJET) announced receipt of a Nasdaq notification that the company is not in compliance with the minimum $1.00 bid price rule under Nasdaq Listing Rule 5550(a)(2) after its closing bid was below $1.00 for 30 consecutive business days.

The company said this disclosure is made under Nasdaq Listing Rule 5810(b). Trading will continue uninterrupted under ticker CJET. Chijet has a 180-calendar-day compliance period ending April 13, 2026 to regain compliance by achieving a closing bid of at least $1.00 for 10 consecutive business days. The company said it will monitor the share price and may consider available options, including a reverse stock split, to regain compliance.

Positive

• Ordinary shares will continue trading uninterrupted on Nasdaq under CJET
• Company granted a 180-day compliance periodApril 13, 2026

Negative

• Closing bid was below $1.00 for 30 consecutive business days
• Must regain a $1.00 closing bid for 10 consecutive business days by April 13, 2026 or face further Nasdaq actions

New York, Oct. 20, 2025 (GLOBE NEWSWIRE) -- CHIJET MOTOR COMPANY, INC. (NASDAQ: CJET) (“Chijet” or the “Company”) today announced that it received a letter from The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2) because the closing bid price of the Company’s Class A ordinary shares was below $1.00 per share for a period of 30 consecutive business days. This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. The notification has no immediate effect on the listing of the Company’s ordinary shares, which will continue to trade uninterrupted on Nasdaq under the ticker “CJET.”

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until April 13, 2026 (the “Compliance Period”), to regain compliance with Nasdaq’s minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company’s Class A ordinary shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed. If the Company does not regain compliance with the minimum bid price requirement within the Compliance Period, the Company may be eligible for additional time, assume the absence of other deficiencies.

The Company intends to monitor the closing bid price of its Class A ordinary shares and will, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse stock split of its ordinary shares, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.

About Chijet Motor Company, Inc.

The primary business of Chijet is the development, manufacture, sales, and service of traditional fuel vehicles and NEVs. State-of-the-art manufacturing systems and stable supply chain management enable the Company to provide consumers with products of high performance at reasonable prices. In addition to its large modern vehicle production base in Jilin, China, a factory in Yantai, China will be dedicated to NEV production upon completion of its construction. Chijet has a management team of industry veterans with decades of experience in engineering and design, management, financing, industrial production, and financial management. For additional information about Chijet, please visit www.chijetmotors.com.

Forward-Looking Statements

This press release contains forward-looking statements as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, formulated in accordance with the ‘safe harbor’ provisions of the Private Securities Litigation Reform Act of 1995. These statements, reflecting the Company’s projections about its future financial and operational performance, employ terms like ‘believes,’ ‘estimates,’ ‘anticipates,’ ‘expects,’ ‘plans,’ ‘projects,’ ‘intends,’ ‘potential,’ ‘target,’ ‘aim,’ ‘predict,’ ‘outlook,’ ‘seek,’ ‘goal,’ ‘objective,’ ‘assume,’ ‘contemplate,’ ‘continue,’ ‘positioned,’ ‘forecast,’ ‘likely,’ ‘may,’ ‘could,’ ‘might,’ ‘will,’ ‘should,’ ‘approximately,’ and similar expressions to convey the uncertainty of future events or outcomes. These forward-looking statements are based on the Company's current expectations, assumptions, and projections, involving judgments about future economic conditions, competitive landscapes, market dynamics, and business decisions, many of which are inherently challenging to predict accurately and are largely beyond the Company's control. Additionally, these statements are subject to a multitude of known and unknown risks, uncertainties, and other variables that could significantly diverge the Company's actual results from those depicted in any forward-looking statement. These factors include, but are not limited to, varying economic conditions, competitive pressures, and regulatory changes. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Investor Relations Contact:
Matthew Abenante, IRC 
President 
Strategic Investor Relations, LLC 
Tel: 347-947-2093 
Email: matthew@strategic-ir.com

FAQ

What did Chijet (NASDAQ: CJET) announce on October 20, 2025 about Nasdaq compliance?

Chijet announced it received a Nasdaq notice for noncompliance with the $1.00 minimum bid after trading below $1.00 for 30 consecutive business days.

How long does Chijet (CJET) have to regain Nasdaq compliance and what is the deadline?

Chijet has a 180-calendar-day compliance period ending on April 13, 2026 to regain the minimum bid requirement.

What price must Chijet (CJET) reach to have Nasdaq confirm compliance?

Nasdaq will confirm compliance if Chijet’s closing bid is at least $1.00 for a minimum of 10 consecutive business days.

Will Chijet (CJET) be delisted immediately after the Nasdaq notice?

No; the notice has no immediate effect on the listing and shares will continue trading while the company uses the compliance period.

What actions might Chijet (CJET) consider to regain compliance with Nasdaq?

The company said it may consider available options, including a reverse stock split, to regain compliance.

Where will Chijet (CJET) shares trade while addressing the Nasdaq deficiency?

Chijet’s Class A ordinary shares will continue to trade uninterrupted on Nasdaq under the ticker CJET.