The latest solar industry news out of China today is all about China Sunergy Co. The company which is a specialized solar cell and module manufacturer has been informed that they are not in compliance with the rules of the NASDAQ stock exchange.
China Sunergy, today announced that it had received a letter from the Listing Qualifications Department of the NASDAQ Stock Market, on May 20, 2015 (the “Letter”), informing the Company that it does not comply with a NASDAQ listing standard set forth in NASDAQ Listing Rule 5250(c)(1), as the Company has not filed its Form 20-F for the period ended December 31, 2014 (the “Filing”) in a timely manner.
The Letter requires the Company to submit a plan to regain compliance with respect to the above delinquent report within 60 calendar days of the receipt of the Letter. The NASDAQ Listing Rules provide that the NASDAQ can grant the Company an exception of up to 180 calendar days from the Filing’s due date, or until November 11, 2015, to regain compliance if NASDAQ accepts the Company’s plan of compliance.
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.