CNEY Receives Nasdaq Delisting Determination for Minimum Bid Price Deficiency

Rhea-AI Summary

CN Energy Group (NASDAQ: CNEY) received a Nasdaq Staff Determination to delist its Class A ordinary shares for failing to maintain a minimum bid of $1.00 per share.

Nasdaq found the bid closed below $1.00 for 30 consecutive business days from Dec 3, 2025 through Jan 15, 2026 and determined the company is ineligible for a compliance extension because it enacted reverse splits totaling a 1-for-750 cumulative ratio (1-for-30 on Jan 19, 2024 and 1-for-25 on May 19, 2025).

On Jan 21, 2026 the company requested a hearing before a Nasdaq hearings panel; that appeal automatically stays any trading suspension and the Form 25-NSE filing, so the shares will continue to trade on Nasdaq while the appeal is pending. The determination does not change ongoing business operations or SEC reporting obligations.

Positive

• Hearing request filed on Jan 21, 2026 which automatically stays trading suspension
• Class A shares will continue trading on Nasdaq during the appeal

Negative

• Nasdaq Staff Determination to delist for minimum bid price deficiency
• Bid closed below $1.00 for 30 consecutive business days from Dec 3, 2025 to Jan 15, 2026
• Company ineligible for compliance extension due to cumulative 1-for-750 reverse split ratio

News Market Reaction

+64.30% 16.1x vol

32 alerts

+64.30% News Effect

+78.0% Peak Tracked

-3.3% Trough Tracked

+$2M Valuation Impact

$5M Market Cap

16.1x Rel. Volume

On the day this news was published, CNEY gained 64.30%, reflecting a significant positive market reaction. Argus tracked a peak move of +78.0% during that session. Argus tracked a trough of -3.3% from its starting point during tracking. Our momentum scanner triggered 32 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $5M at that time. Trading volume was exceptionally heavy at 16.1x the daily average, suggesting very strong buying interest.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Minimum bid requirement: $1.00 per share Sub-$1 streak: 30 consecutive business days Reverse split: 1-for-30 +5 more

8 metrics

Minimum bid requirement $1.00 per share Nasdaq Listing Rule 5550(a)(2) threshold

Sub-$1 streak 30 consecutive business days Bid price below $1 from Dec 3, 2025 to Jan 15, 2026

Reverse split 1-for-30 Reverse stock split on Jan 19, 2024

Reverse split 1-for-25 Reverse stock split on May 19, 2025

Cumulative reverse split 1-for-750 Combined effect of 2024 and 2025 reverse stock splits

Reverse split threshold 250 shares or more Cumulative ratio test under Listing Rule 5810(c)(3)(A)(iv)

Promissory note principal $7,510,000.00 Secured promissory note with Streeterville Capital dated Jan 16, 2026

Shelf capacity $100,000,000 Maximum aggregate offering under Form F-3 shelf filed Dec 19, 2025

Market Reality Check

Price: $0.8013 Vol: Volume 15,442,103 is 17.9...

high vol

$0.8013 Last Close

Volume Volume 15,442,103 is 17.91x the 20-day average of 862,324, indicating unusually heavy trading before this delisting notice. high

Technical Shares at $0.8013 are trading below the 200-day MA of $2.20 and about 92.18% under the 52-week high.

Peers on Argus

Pre-news, CNEY showed modest upside while peers were mixed: BSLK up 15.26%, BON ...

Pre-news, CNEY showed modest upside while peers were mixed: BSLK up 15.26%, BON flat, BGLC down 4.59%, SNES down 2.42%, FEAM down 1.12%. With no peers in the momentum scanner and no same-day peer news, the delisting determination appears stock-specific rather than sector-driven.

Historical Context

2 past events · Latest: Jan 08 (Positive)

Pattern 2 events

Date	Event	Sentiment	Move	Catalyst
Jan 08	Subsidiary award news	Positive	-5.5%	Pathenbot subsidiary received an innovation award at CES 2026.
Dec 01	Product/platform launch	Positive	-10.0%	Launch of PATHENBOT robotics platform and official website for SME customers.

Pattern Detected

Recent positive corporate updates have coincided with negative 24h price reactions, suggesting a pattern of selling into good news.

Recent Company History

Over the past few months, CNEY highlighted growth initiatives through its Pathenbot robotics subsidiary. On Dec 1, 2025, it launched the PATHENBOT robotics solutions platform and official website, and on Jan 8, 2026, Pathenbot received an innovation award at CES 2026. Both headlines were strategically positive but saw 24-hour moves of -9.97% and -5.49%, respectively. Today’s Nasdaq delisting determination contrasts with those expansion-focused updates, shifting attention squarely to listing compliance risk.

Regulatory & Risk Context

Active S-3 Shelf · $100,000,000

Shelf Active

Active S-3 Shelf Registration 2025-12-19

$100,000,000 registered capacity

An effective Form F-3 shelf filed on Dec 19, 2025 allows CNEY to offer up to $100,000,000 of various securities over time, creating potential for future capital raises that could be dilutive, alongside existing listing-compliance pressures highlighted by the Nasdaq minimum bid price deficiency.

Market Pulse Summary

The stock surged +64.3% in the session following this news. A strong positive reaction aligns with h...

Analysis

The stock surged +64.3% in the session following this news. A strong positive reaction aligns with heightened event risk from Nasdaq’s delisting determination. The stock traded far below its 52-week high of $10.25 and below its $2.20 200‑day MA, so any perceived path to preserving the listing could fuel speculative buying. However, repeated reverse stock splits, a fresh $7,510,000 secured note, and a $100,000,000 shelf registration underscore ongoing dilution and financing risks that could cap sustainability.

Key Terms

listing rule 5550(a)(2), nasdaq capital market, reverse stock split, form 25-nse

4 terms

listing rule 5550(a)(2) regulatory

"the Company does not comply with Listing Rule 5550(a)(2)."

Listing Rule 5550(a)(2) is a Nasdaq listing standard that sets a minimum share-price requirement for securities to be listed or to remain listed on the Nasdaq Capital Market. It matters to investors because falling below that minimum can trigger delisting reviews or increased volatility, much like a safety bar on a ride — if a stock can’t meet the height requirement, it risks being removed from the exchange, which can reduce liquidity and access for buyers and sellers.

nasdaq capital market regulatory

"determine to delist the Company's Class A ordinary shares from The Nasdaq Capital Market"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

reverse stock split financial

"the Company has effected a reverse stock split over the prior one-year period"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

form 25-nse regulatory

"the filing of the Form 25-NSE with the Securities and Exchange Commission"

Form 25‑NSE is an official filing used to notify the stock exchange that a company’s securities are being removed from trading on that exchange, similar to handing in a key when a shop closes. Investors care because removal ends public trading on that venue, often cutting liquidity and making it harder to buy or sell shares, which can affect a stock’s price and how quickly investors can access cash or exit positions.

AI-generated analysis. Not financial advice.

LISHUI, China, Jan. 23, 2026 /PRNewswire/ -- CN Energy Group. Inc. (NASDAQ: CNEY) ("CNEY" or the "Company"), a Nasdaq-listed company, today announced that it received a written notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that Nasdaq has determined to delist the Company's Class A ordinary shares from The Nasdaq Capital Market (the "Staff Determination"). The Staff Determination was issued because the bid price of the Company's Class A ordinary share has closed at less than $1.00 per share for the previous 30 consecutive business days from December 3, 2025 through January 15, 2026 and, as a result, the Company does not comply with Listing Rule 5550(a)(2). In addition, pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv), the Company is not eligible for any compliance period or extension specified in Rule 5810(c)(3)(A) because the Company has effected a reverse stock split over the prior one-year period and has effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more. As noted in the Staff Determination, the Company effected a 1-for-30 reverse stock split on January 19, 2024 and a 1-for-25 reverse stock split on May 19, 2025, resulting in a cumulative 1-for-750 reverse stock split ratio for the Class A ordinary shares.

On January [21], 2026, the Company submitted a hearing request to appeal the Staff Determination to a hearings penal (the "Panel"). The hearing request automatically stays the suspension of trading in the Company's securities and the filing of the Form 25-NSE with the Securities and Exchange Commission, in each case pending the Panel's decision. In connection with the hearing, the Company intends to present a plan to the Panel seeking an exception or other relief to address the deficiencies identified in the Staff Determination. During the appeal process with the Panel, the Company's Class A ordinary shares will continue to be listed and trade on Nasdaq.

The Staff Determination does not affect the Company's business operations or its reporting obligations under the Securities Exchange Act of 1934, as amended.

About CN Energy Group. Inc.

CN Energy Group. Inc. is currently listed on NASDAQ under the symbol "CNEY." With patented proprietary bioengineering and physiochemical technologies, CNEY has pioneered and specialized in producing high-quality recyclable activated carbon and renewable energy from abandoned forest and agricultural residues, converting harmful wastes into invaluable wealth and delivering significant financial, economic, environmental and ecologic benefits. CNEY's products and services have been widely used by food and beverage producers, industrial and pharmaceutical manufacturers, as well as environmental protection enterprises. CNEY also develops and provides customizable robotics products, automation tools, and related software solutions for small and medium-sized industrial, logistics, and service businesses in North America. For more information, please visit the Company's website at www.cneny.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that do not relate to historical facts but are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can generally (although not always) be identified by their use of terms and phrases such as anticipate, appear, believe, continue, could, estimate, expect, indicate, intend, may, plan, possible, predict, project, pursue, will, would and other similar terms and phrases, as well as the use of the future tense. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual reports under the heading "Risk Factors" as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this press release speak only as of the date hereof. Unless otherwise required by law, we undertake no obligation to publicly update or revise these forward-looking statements, whether because of new information, future events or otherwise.

Information contained on, or that can be accessed through, the Company's website or any other website or any social media is expressly not incorporated by reference into and is not a part of this press release.

 

View original content:https://www.prnewswire.com/news-releases/cney-receives-nasdaq-delisting-determination-for-minimum-bid-price-deficiency-302669191.html

SOURCE CN Energy Group. Inc.

FAQ

Why did Nasdaq determine to delist CNEY on January 23, 2026?

Nasdaq determined to delist because CNEY's bid price closed below $1.00 for 30 consecutive business days from Dec 3, 2025 through Jan 15, 2026.

What reverse stock splits did CNEY complete that affected Nasdaq eligibility?

CNEY completed a 1-for-30 reverse split on Jan 19, 2024 and a 1-for-25 reverse split on May 19, 2025, a cumulative 1-for-750 ratio.

Will CNEY shares stop trading after the Nasdaq delisting determination?

No—CNEY submitted a hearing request that automatically stays any trading suspension, so shares will continue to trade on Nasdaq while the appeal is pending.

What did CNEY file to challenge the Nasdaq Staff Determination and when?

The company submitted a hearing request to a Nasdaq hearings panel on Jan 21, 2026 to appeal the Staff Determination.

Does the delisting determination affect CNEY's business operations or SEC reporting?

The determination does not affect the company's day-to-day business operations or its reporting obligations under the Securities Exchange Act of 1934.