Mingzhu Logistics Receives Nasdaq Delisting Notice，Plans Further Appeal
Rhea-AI Summary
Mingzhu Logistics (NASDAQ: YGMZ) received a Nasdaq delisting notice on December 10, 2025, after the Nasdaq Hearings Panel denied its appeal on December 10, 2025. Nasdaq determined the company failed to meet Listing Rule 5550(a)(2) requiring a $1 minimum closing bid for 30 consecutive business days.
Trading in YGMZ will be suspended at the opening on December 12, 2025. The company plans a further appeal to the Nasdaq Listing and Hearing Review Council and proposed a reverse share split as part of its compliance plan. YGMZ expects OTC quoting but warns of limited liquidity and potential adverse pricing.
Positive
- Company intends to file a further appeal within the 15-day deadline
- Management proposed a reverse share split as a compliance measure
- Appeal delays filing of Form 25, temporarily preserving registration
Negative
- Nasdaq delisting determination issued on December 10, 2025
- Trading suspended at open on December 12, 2025
- Ineligible for 180-day cure due to Discretionary Panel Monitor from May 20, 2025
- Expected OTC quoting with extremely limited trading liquidity
Market Reaction 15 min delay 24 Alerts
Following this news, YGMZ has declined 52.85%, reflecting a significant negative market reaction. Our momentum scanner has triggered 24 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $0.03. This price movement has removed approximately $187K from the company's valuation. Trading volume is very high at 3.2x the average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.
Key Figures
Market Reality Check
Peers on Argus
Momentum data flagged no sector-wide move. Key trucking peers were mixed: PAMT +11.04%, ARCB +5.53%, HTLD +3.12%, TOPP -3.11%, and YELL 0%, suggesting the delisting notice was company-specific rather than industry-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 01 | Product update | Positive | -1.8% | Subsidiary launched next-gen AI upgrade for consumer robot dog line. |
| Nov 28 | Commercial contract | Positive | -9.6% | Subsidiary signed US$6.99M contract to supply 10,000 MZ-01 robot dogs. |
| Nov 25 | Registered offering | Negative | -82.4% | $8M registered direct offering of 8,000,000 units at $1.00 per unit. |
| Nov 07 | Reverse split | Negative | -18.3% | 1-for-16 reverse share split to address Nasdaq minimum bid requirement. |
| Oct 23 | Initial delisting notice | Negative | -5.9% | Nasdaq bid-price noncompliance notice after 30 days below $1 threshold. |
Recent news—ranging from commercial wins to financing, reverse split, and prior delisting notice—has consistently been followed by negative price reactions, with particularly severe selling after the registered direct offering.
Over the past months, Mingzhu reported multiple events: a Nasdaq delisting notice on Oct 20, 2025, a 1-for-16 reverse share split effective Nov 12, 2025, and an $8 million registered direct offering of 8,000,000 units. It also announced a US$6.99 million robot dog contract and an AI upgrade for its robot dog line. Each event, including positive commercial updates, saw negative next-day price moves, framing today’s final delisting determination within a pattern of persistent selling pressure.
Regulatory & Risk Context
The company has an active Form F-3/A shelf registration filed on 2025-07-01, effective through 2028-07-01, and has used it at least once via a 424B5 prospectus on 2025-11-26, indicating capacity and precedent for additional registered offerings.
Market Pulse Summary
The stock is dropping -52.9% following this news. A negative reaction despite the company’s stated intent to appeal would fit its pattern of selling on both adverse and ostensibly positive news. Prior updates on a reverse split, registered offering, and earlier delisting notice all saw declines, with one move of -82.38%. Shares already traded near the $0.0526 52-week low and far below the $12.59 200-day average, so further downside would underscore persistent listing and financing overhangs.
Key Terms
Form 25 regulatory
Nasdaq Capital Market regulatory
AI-generated analysis. Not financial advice.
SHENZHEN, CHINA, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Mingzhu Logistics Holdings Limited (the “Company”), a Cayman Islands exempted company with limited liability, announced today that it received a notification from The Nasdaq Stock Market LLC (“Nasdaq”) on December 10, 2025. The notification stated that the Company’s securities will be delisted from the Nasdaq Capital Market, with trading suspended at the opening of trading on December 12, 2025.
The delisting determination stems from the Company’s non-compliance with Nasdaq Listing Rule 5550(a)(2), commonly known as the “Bid Price” Rule. This rule requires listed companies to maintain a minimum closing bid price of
Typically, Nasdaq provides a 180-calendar day cure period for companies to regain compliance. However, due to a Discretionary Panel Monitor imposed on the Company by the Nasdaq Listing Qualifications Panel on May 20, 2025 (for a one-year term), the Company was not eligible for such a cure period. Following the initial delisting determination, the Company requested an appeal and presented its compliance plan – including a proposed reverse share split – at a hearing before the Nasdaq Hearings Panel on December 9, 2025. The Hearings Panel formally denied the Company’s appeal on December 10, 2025.
In response to the decision, the Company confirmed that it intends to file a further appeal with the Nasdaq Listing and Hearing Review Council within the 15-day deadline. While this appeal will delay the filing of Form 25 (which would finalize the delisting and deregistration with the U.S. Securities and Exchange Commission), it will not prevent the suspension of trading in the Company’s shares on Nasdaq as scheduled on December 12, 2025.
The Company noted that trading liquidity may become extremely limited following the Nasdaq suspension. It expects its securities to be quoted in the Over-the-Counter (OTC) market under the existing ticker symbols, but warned that shareholders may face difficulties in selling their shares, and any subsequent trading prices could be adversely affected.
A spokesperson for Mingzhu Logistics stated, “We are disappointed with the Hearings Panel’s decision but remain committed to exploring all available options to protect shareholder interests. The decision to appeal reflects our dedication to pursuing a favorable outcome for the Company and its investors.”
About MingZhu Logistics Holdings Limited (Nasdaq: YGMZ)
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company’s regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors’ fleets. For more information, please visit https://ir.szygmz.com/.
Forward-Looking Statements
The statements in this press release regarding the Company’s future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events, expected performance, assumptions and any other statements of fact that have not occurred. Any statements that contain the words “may”, “will”, “want”, “should”, “believe”, “expect”, “anticipate”, “estimate”, “calculate” or similar statements that are not factual in nature are to be considered forward-looking statements. Actual results may differ materially from historical results or from those expressed in these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, the Company’s strategic objectives, the Company’s future plans, market demand and user acceptance of the Company’s products or services, technological advances, economic trends, the growth of the trucking services market in China, the Company’s reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, fluctuations in China’s macroeconomic conditions, and the risks and assumptions disclosed in the Company’s reports provided to the CSRC (China Security Regulatory Commission). For these and other related reasons, we advise investors not to place any reliance on these forward-looking statements, and we urge investors to review the Company’s relevant SEC filings for additional factors that may affect the Company’s future results of operations. The Company undertakes no obligation to publicly revise these forward-looking statements subsequent to the filing of these documents as a result of changes in particular events or circumstances.
For further information, please contact.
MingZhu Logistics Holdings Limited:
Junfei Yang
Email: company@szygmz.com
Phone: +86 131-2892-8512
FAQ
Why did Nasdaq issue a delisting notice for Mingzhu Logistics (YGMZ) on December 10, 2025?
When will trading in Mingzhu Logistics (YGMZ) be suspended on Nasdaq?
Will Mingzhu Logistics (YGMZ) remain registered with the SEC after the appeal?
What steps did Mingzhu Logistics (YGMZ) present to try to regain Nasdaq compliance?
Where will Mingzhu Logistics (YGMZ) shares trade after Nasdaq suspension?
How will the Nasdaq suspension affect YGMZ shareholders on December 12, 2025?
