Samfine Creation Holdings Group Limited Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency

Rhea-AI Summary

Samfine Creation Holdings Group (SFHG) has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's stock failed to maintain the required $1 per share minimum bid price between February 6, 2025, and March 20, 2025.

Nasdaq has granted SFHG an initial 180-day compliance period until September 22, 2025 to regain compliance. If unsuccessful, the company may be eligible for an additional 180-day period, provided it meets other listing requirements and demonstrates intention to cure the deficiency, possibly through a reverse stock split.

The company is currently evaluating options to regain compliance but acknowledges there is no guarantee of success. Failure to meet compliance could result in delisting from Nasdaq.

Positive

• Granted 180-day compliance period to address listing deficiency
• Potentially eligible for additional 180-day extension if needed

Negative

• Stock price fell below $1, triggering Nasdaq minimum bid price deficiency notice
• Risk of potential delisting from Nasdaq if compliance is not achieved
• May need to implement reverse stock split, which could affect share structure

HONG KONG, March 26, 2025 (GLOBE NEWSWIRE) -- Samfine Creation Holdings Group Limited (the “Company”) received a letter from the Listing Qualifications staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that based on the closing bid price of the Company for the period from February 6, 2025 to March 20, 2025, the Company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2), to maintain a minimum bid price of $1 per share.

Nasdaq has provided the Company with an 180 calendar days compliance period, or until September 22, 2025, in which to regain compliance with Nasdaq continued listing requirement. In the event that the Company does not regain compliance in the compliance period, the Company may be eligible for an additional 180 calendar days, should the Company meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and is able to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company’s securities will be subject to delisting.

The Company is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq’s continued listing requirement. Although the Company will use all reasonable efforts to achieve compliance with Rule 5550(a)(2), there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirement.

Forward-Looking Statements

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 bout future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “believe”, “likely to” 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.

For investor and media inquiries, please contact:
Samfine Creation Holdings Group Limited
Investor Relations Department
Email: info@sfhgus.com

FAQ

What is the deadline for SFHG to meet Nasdaq's minimum bid price requirement?

SFHG has until September 22, 2025 to regain compliance with the $1 minimum bid price requirement.

What happens if SFHG fails to meet the minimum bid price requirement by September 2025?

SFHG may receive an additional 180-day compliance period if it meets other listing requirements and shows intent to cure the deficiency.

What options does SFHG have to regain Nasdaq compliance?

SFHG can implement measures including a potential reverse stock split to boost share price above $1.

What is the minimum bid price requirement that SFHG failed to maintain?

SFHG failed to maintain Nasdaq's requirement of a minimum bid price of $1 per share from February 6 to March 20, 2025.