Qilian International Holding Group Ltd. Ordinary Shares Stock Price, News & Analysis

Qilian International Holding Group Ltd (historically trading on Nasdaq under the ticker symbol QLI) is a China-based pharmaceutical and chemical products manufacturer. According to multiple company announcements, it is headquartered in Gansu, China and focuses on the development, manufacture, marketing and sale of several product categories, including licorice products, oxytetracycline products, traditional Chinese medicine derivatives products, heparin products, sausage casings, and fertilizers. The company has stated that its products are sold in more than 20 provinces in China.

In August 2024, the company announced that its Class A ordinary shares would begin trading on the Nasdaq Capital Market under the new ticker symbol BGM, replacing the symbol QLI. The company indicated that shareholders did not need to take any action in connection with this symbol change and that its Class A ordinary shares would continue to be listed on the Nasdaq Capital Market with the same CUSIP number. As a result, the QLI symbol primarily represents the company’s historical listing, while BGM is used for ongoing trading.

Business focus and product lines

Based on its public disclosures, Qilian International’s business centers on pharmaceutical preparation manufacturing and related chemical products. The company has highlighted several core product areas:

• Licorice products – the company reports focusing on the development, manufacture, marketing and sale of licorice products, and has referenced licorice extract, fluid extract, and compound licorice lozenges in its strategic plans.
• Oxytetracycline products – the company identifies oxytetracycline products as one of its main product categories and has discussed market demand and pricing trends for these products.
• Traditional Chinese medicine derivatives (TCMD) – Qilian International includes traditional Chinese medicine derivatives products among its key offerings.
• Heparin products – the company describes heparin and heparin sodium as important biomedical raw materials and has reported increased sales and investment focus in this area.
• Sausage casings – sausage casings are listed as one of the company’s product categories in its announcements.
• Fertilizers – the company reports manufacturing and selling natural fertilizer products and has discussed expansion and resumption of fertilizer production.

In its communications, Qilian International has explained that its revenue is derived from sales across these product categories, with specific references to revenue contributions from heparin products, oxytetracycline products, licorice products, TCMD, sausage casings, and fertilizers. The company has also discussed how changes in raw material prices, exchange rates, and market demand affect gross margins and profitability in these segments.

Strategic adjustments and industrial orientation

Qilian International has described several strategic adjustments in response to market conditions. The company has stated that it faced challenges from shrinking market demand and declining prices for oxytetracycline products, as well as rising environmental protection standards and higher production and operational costs. In response, it announced plans to reduce investment in the oxytetracycline sector to better manage costs and business risks.

At the same time, the company has indicated that it intends to increase investment in the heparin sodium sector, describing heparin sodium as a biomedical raw material with broad application prospects in the medical field. Qilian International has stated that it plans to enhance investment in research and development, production, and market development for heparin sodium, with the goal of refining production techniques and expanding production scale.

The company has also announced plans to develop a series of licorice products, including licorice extract, fluid extract, and compound licorice lozenges, and has indicated that it will monitor market trends while increasing investment in research, production, and marketing of these licorice-based products. In addition, Qilian International has disclosed its intention to invest in the financial field (such as stocks and wealth management products) and in software development, describing financial products and software in the financial field as a new growth point and stating that it aims to promote diversified development through these investments.

Geographic footprint and market reach

According to repeated company disclosures, Qilian International’s products are sold in more than 20 provinces in China. The company has described itself as a pharmaceutical and chemical products manufacturer headquartered in Gansu, China, and has also referenced operations and announcements from locations such as Jiuquan, China and Chengdu, China in its press releases. These statements indicate that its primary commercial footprint is within China, with a distribution network that covers numerous provinces.

Regulatory listing and Nasdaq compliance history

Qilian International has been listed on Nasdaq and has reported on its interactions with Nasdaq’s listing requirements. The company disclosed receiving notifications from Nasdaq regarding minimum bid price deficiencies under Nasdaq Listing Rules, as well as extensions of time to regain compliance. It has discussed potential measures to address these issues, including consideration of a reverse share split.

In June 2024, the company announced that its board of directors had approved a 1-for-5 reverse share split of its authorized share capital, with effectiveness scheduled for June 21, 2024. The company explained that shareholders would receive one new Class A or Class B ordinary share for every five Class A or Class B ordinary shares held, respectively, and that its Class A ordinary shares were expected to begin trading on a split-adjusted basis on that date. It also noted that fractional shares resulting from the reverse split would be rounded up to the nearest whole share.

In July 2024, Qilian International reported that Nasdaq had notified the company that it had regained compliance with the minimum bid price rule after its Class A ordinary shares maintained a closing bid price of at least US$1.00 per share for 10 consecutive business days. Earlier communications from 2023 and 2024 described prior notifications of non-compliance and extensions granted by Nasdaq, as well as the company’s intention to monitor its share price and consider options such as a reverse share split.

Corporate evolution and ticker symbol change

In August 2024, the company announced that effective August 11, 2024, its Class A ordinary shares would begin trading on the Nasdaq Capital Market under the ticker symbol BGM, replacing the previous symbol QLI. The company stated that no shareholder action was required in connection with this change and that its Class A ordinary shares would remain listed on the Nasdaq Capital Market with the same CUSIP number.

Subsequent SEC filings have been made under the name BGM Group Ltd, using the new ticker symbol. These filings include Form 6-K reports referencing BGM Group Ltd as the registrant and providing financial results for periods after the symbol change. This indicates that the corporate entity historically known to investors under the QLI symbol continues to operate, with BGM serving as the updated trading symbol and corporate name in regulatory filings.

Recent corporate actions and acquisitions

In a Form 6-K filed in June 2025, BGM Group Ltd reported the completion of a strategic acquisition of 100% equity interest in HM Management Company Limited. According to the filing, the target company’s shareholders received consideration in the form of Class A ordinary shares of BGM Group Ltd. The company stated that, through this acquisition, it aims to expand its AI application portfolio and integrate existing market resources from its AI insurance and AI mobility businesses, with the stated goal of strengthening its position in the AI industry. This disclosure shows that, in addition to its historical pharmaceutical and chemical manufacturing activities, the group has pursued expansion into AI-related business areas.

Shareholder structure and governance developments

In a Form 6-K dated August 2025, BGM Group Ltd disclosed that two major shareholders, acting through their wholly owned entities, had entered into an acting in concert agreement. The filing explained that the parties intended to act in concert on matters requiring shareholder or board decisions, with the stated purpose of maintaining a stable shareholder structure and control of the company. The agreement describes how the parties will vote on corporate matters and indicates that, as a result of the agreement, they can be deemed beneficial owners of a significant portion of the company’s outstanding ordinary shares and aggregate voting power. This filing provides insight into the company’s governance and control arrangements.

Position within the pharmaceutical preparation manufacturing sector

Within the pharmaceutical preparation manufacturing industry, Qilian International (now represented by BGM Group Ltd in filings and trading) distinguishes itself by combining pharmaceutical and chemical product manufacturing with traditional Chinese medicine derivatives, licorice-based products, heparin products, sausage casings, and fertilizers. Its strategic communications emphasize adjustments to product mix in response to market conditions, with increased focus on heparin sodium and licorice products and reduced emphasis on oxytetracycline, as well as diversification into financial investments and software development.

For investors and analysts reviewing the historical QLI symbol, it is important to recognize that QLI refers to the company’s earlier Nasdaq ticker. Current trading and regulatory information is associated with the BGM symbol and the BGM Group Ltd name, while the underlying business history includes the pharmaceutical and chemical manufacturing activities described in the company’s press releases and SEC filings.