Mingzhu Receives Nasdaq Delisting Notice Subject to Hearing Request

Core Viewpoint - MingZhu Logistics Holdings Limited is facing delisting from Nasdaq due to its share price falling below $1 for 30 consecutive business days, which violates Nasdaq Listing Rule 5550(a)(2) [1] Group 1: Delisting Notification - On February 13, 2025, Nasdaq notified MingZhu of the delisting determination due to non-compliance with the minimum bid price requirement [1] - The company is not eligible for the usual 180-day compliance period because it executed a reverse stock split on July 1, 2024 [1] Group 2: Appeal Process - MingZhu has until February 20, 2025, to appeal the delisting determination to a hearing panel, which will temporarily suspend the delisting process upon request [2] - The company intends to request a hearing to appeal the delisting determination before the deadline [2] Group 3: Compliance Options - The company is exploring various options to regain compliance, including seeking shareholder approval for another reverse stock split [3] Group 4: Company Overview - MingZhu Logistics Holdings Limited, established in 2002 and headquartered in Shenzhen, China, is a 4A-rated professional trucking service provider [4] - The company operates regional logistics terminals in Guangdong Province and Xinjiang Autonomous Region, offering tailored logistics solutions through a combination of self-owned and subcontracted fleets [4]