Leishen Energy received Nasdaq noncompliance notice for missing annual meeting, plans to submit compliance by March 2, 2026.
Quiver AI Summary
Leishen Energy Holding Co., Ltd. announced that it received a notification from Nasdaq on January 16, 2026, regarding its non-compliance with Listing Rule 5620(a), which mandates an annual shareholder meeting within a year after the fiscal year-end. The company failed to hold this meeting, impacting its continued listing status, although the notification currently has no immediate effect on trading. Leishen Energy has 45 days, until March 2, 2026, to submit a compliance plan to Nasdaq, which, if accepted, could extend the timeline to regain compliance until June 29, 2026. The company intends to hold its annual meeting within the allowed timeframe but acknowledges the uncertainty of Nasdaq's acceptance of its plan. Business operations remain unaffected by this notification.
Potential Positives
- The notification from Nasdaq does not have an immediate effect on the listing or trading of the Company’s securities, indicating that trading can continue without disruption.
- Leishen Energy has been given a 45-day period to submit a compliance plan, demonstrating that Nasdaq is providing an opportunity for the Company to address the issue.
- The Company intends to submit a compliance plan, which shows a proactive approach to regaining compliance with Nasdaq’s listing rules.
Potential Negatives
- The company is currently non-compliant with Nasdaq Listing Rule 5620(a), which may raise concerns about governance practices and shareholder engagement.
- Failure to hold an annual meeting could lead to the company being delisted from Nasdaq if it cannot regain compliance within the allowable timeframe.
- There is no assurance that Nasdaq will accept the company’s compliance plan, further jeopardizing its listing status and investor confidence.
FAQ
What compliance issue did Leishen Energy face with Nasdaq?
Leishen Energy did not hold its annual shareholder meeting within 12 months of its fiscal year end, violating Nasdaq Listing Rule 5620(a).
What is the timeframe for Leishen Energy to submit a compliance plan?
Leishen Energy has 45 calendar days, until March 2, 2026, to submit a compliance plan to Nasdaq.
Will the Nasdaq notification affect Leishen Energy's stock trading?
No, the notification does not have an immediate effect on the listing or trading of the Company’s securities on Nasdaq.
What happens if Nasdaq accepts the compliance plan?
If accepted, Nasdaq may grant an extension of up to 180 days, until June 29, 2026, for Leishen Energy to regain compliance.
Can Leishen Energy assure compliance with Nasdaq regulations?
There is no assurance that Nasdaq will accept the compliance plan or that the Company will regain compliance within the applicable period.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
BEIJING, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Leishen Energy Holding Co., Ltd. ("Leishen Energy"), a leading provider of clean-energy equipment and integrated solutions for the oil and gas industry, today announced that on January 16, 2026, it received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with Nasdaq Listing Rule 5620(a), which requires listed companies to hold an annual meeting of shareholders no later than one year after the end of the Company’s fiscal year.
As stated in the Nasdaq letter, the Company did not hold an annual meeting of shareholders within twelve months following its fiscal year end and therefore no longer complies with the annual meeting requirement for continued listing on Nasdaq. The notification has no immediate effect on the listing or trading of the Company’s securities on Nasdaq.
In accordance with Nasdaq Listing Rule 5810(c)(2)(G), the Company has been provided a period of 45 calendar days, or until March 2, 2026, to submit a plan to regain compliance. If Nasdaq accepts the Company’s compliance plan, Nasdaq may grant an exception of up to 180 calendar days from the end of the Company’s fiscal year, or until June 29, 2026, to regain compliance with the annual meeting requirement.
The Company intends to submit a compliance plan within the required timeframe and expects that such plan will include the Company’s intention to hold an annual meeting of shareholders within the period permitted by Nasdaq, subject to Nasdaq’s acceptance of the plan. There can be no assurance that Nasdaq will accept the Company’s compliance plan or that the Company will be able to regain compliance within the applicable period.
The Nasdaq notification does not affect the Company’s ongoing business operations.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including statements regarding the Company’s ability to submit a compliance plan, Nasdaq’s acceptance of such plan, and the Company’s ability to regain compliance with Nasdaq Listing Rule 5620(a). Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond the control of the Company, that could cause actual results to differ materially from those expressed or implied by such statements. The Company undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this release, except as required by law.
For more information, please contact:
Investor Relations Department
Email: [email protected]
