Chijet Motor Receives Nasdaq Letter Regarding Minimum Bid Price Compliance

Author: Benzinga Newsdesk | October 20, 2025 03:35pm

New York, Oct. 20, 2025 (GLOBE NEWSWIRE) -- CHIJET MOTOR COMPANY, INC. (NASDAQ:CJET) ("Chijet" or the "Company") today announced that it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2) because the closing bid price of the Company's Class A ordinary shares was below $1.00 per share for a period of 30 consecutive business days. This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. The notification has no immediate effect on the listing of the Company's ordinary shares, which will continue to trade uninterrupted on Nasdaq under the ticker "CJET."

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until April 13, 2026 (the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company's Class A ordinary shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed. If the Company does not regain compliance with the minimum bid price requirement within the Compliance Period, the Company may be eligible for additional time, assume the absence of other deficiencies.

The Company intends to monitor the closing bid price of its Class A ordinary shares and will, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse stock split of its ordinary shares, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.

Posted In: CJET