NCI Rallies Back: Nasdaq Compliance Regained

Rhea-AI Summary

Neo-Concept International (Nasdaq: NCI) has successfully regained compliance with Nasdaq's minimum bid price requirement ahead of schedule. The company had received a deficiency notice on July 8, 2024, for failing to maintain the required $1.00 per share minimum bid price over 30 consecutive business days.

After being granted an extension until July 7, 2025, NCI achieved compliance on July 1, 2025, effectively resolving the listing concern. The company has expressed its commitment to maintaining strong corporate governance and regulatory compliance standards.

Positive

• Successfully regained Nasdaq compliance ahead of the final deadline
• Maintained listing on Nasdaq major exchange
• Demonstrated ability to meet regulatory requirements

Negative

• Previously failed to maintain minimum $1.00 share price requirement
• Required compliance extension period to meet listing standards

HONG KONG, July 02, 2025 (GLOBE NEWSWIRE) -- Neo-Concept International Group Holdings Limited (Nasdaq: NCI) (the “Company”) is pleased to announce that it has successfully regained compliance with Nasdaq Listing Rule 5550(a)(2) as of July 1, 2025 – well ahead of the final deadline.

This milestone follows a notification from Nasdaq dated July 8, 2024, stating that the Company’s Class A Ordinary Shares had failed to maintain the minimum required bid price of $1.00 per share over a consecutive 30-business-day period, as stipulated by Nasdaq Listing Rule 5550(a)(2). In response, the Company applied for and was granted extension by Nasdaq to regain compliance by July 7, 2025.

On July 1, 2025, the Company received official notification from Nasdaq that it had met the minimum bid price requirement and had regained compliance with Listing Rule 5550(a)(2). The matter is now considered closed.

NCI reaffirms its commitment to strong corporate governance and regulatory compliance and expresses its sincere gratitude to its shareholders, partners and the broader investment community for their continued trust and support.

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About Neo-Concept International Group Holdings Limited

Neo-Concept International Group Holdings Limited (“NCI”) is a one-stop apparel solution services provider. It offers a full suite of services in the apparel supply chain, including market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management serving customers located in the European and North American markets. It also sells its own branded apparel products under the brand “Les100Ciels” through retail stores in UK as well as the e-commerce platform www.les100ciels.com. 

NCI is dedicated to minimizing its environmental footprint by implementing various eco-friendly practices. It prioritizes recycling, clean processes, and traceable sourcing as part of its commitment to reducing environmental impact. Additionally, NCI actively seeks sustainable solutions throughout the garment production process, aiming to meet the needs of its customers in an environmentally responsible manner.

SAFE HARBOR STATEMENT

Certain statements in this announcement are forward-looking statements. These forward-looking statements 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. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC, which are available for review at www.sec.gov.

Enquiries:

Neo-Concept International Group Holdings Limited Investor Relations Contact:

10/F, Seaview Centre
No.139-141 Hoi Bun Road
Kwun Tong, Kowloon, Hong Kong
(+852) 2798-8639
Email: ir@neo-ig.com

FAQ

What was the deadline for NCI to regain Nasdaq compliance?

NCI had until July 7, 2025 to regain compliance with Nasdaq's minimum bid price requirement, but achieved it by July 1, 2025.

Why did NCI receive a Nasdaq deficiency notice?

NCI received the notice because its Class A Ordinary Shares failed to maintain the minimum required bid price of $1.00 per share over a consecutive 30-business-day period.

When did NCI (Nasdaq: NCI) regain compliance with Nasdaq listing requirements?

NCI regained compliance with Nasdaq's minimum bid price requirement on July 1, 2025.

What is the minimum bid price requirement for Nasdaq listing that NCI had to meet?

According to Nasdaq Listing Rule 5550(a)(2), companies must maintain a minimum bid price of $1.00 per share over a consecutive 30-business-day period.