In recent weeks, a pair of NASDAQ-listed Chinese stocks received updates on their status with the exchange.
Yulong Eco-Materials Ltd (NASDAQ: YECO) received a notice of listing noncompliance from the NASDAQ after the company failed to file its Form 10-K Annual Report. Yulong, which makes eco-friendly building products, has until December 13 to submit a plan to regain compliance with the NASDAQ listing standards. At that point in time, the NASDAQ will determine whether or not is accepts the proposal and will grant Yulong a compliance extension through April 11, 2017.
The company believes is will not have an issue with a timely submission by December 13 and expects to regain its compliance and avoid a de-listing.
Skypeople Fruit Juice Inc (NASDAQ: SPU) has also received a similar notice from the NASDAQ after failing to submit its Annual Report on Form 10-K or its Quarterly Reports on Form 10-Q for the quarterly periods ending on March 31, 2016 and June 30, 2016.
SkyPeople, which makes fruit juice concentrates, has appealed the NASDAQ’s noncompliance ruling, which has delayed a potential delisting until November 3. The NASDAQ has granted the company a hearing set on December 15.
Skypeople and Yulong shares are down 20.1 percent and 16 percent, respectively, in the past month.
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