Chijet Motor Company Inc. Announces Receipt of Staff Delisting Determination from Nasdaq; Intends to Appeal

Core Viewpoint - Chijet Motor Company, Inc. is facing delisting from Nasdaq due to non-compliance with market value requirements, specifically failing to maintain a minimum market value of $50 million for its listed securities and $15 million for publicly held shares [1][2] Group 1: Delisting Notification - On February 13, 2025, Chijet received a determination letter from Nasdaq regarding its delisting due to failure to meet market value requirements [1] - Trading of Chijet's Common Stock will be suspended on February 25, 2025, unless an appeal is filed [2] Group 2: Appeal Process - The company plans to appeal the delisting decision to a Hearings Panel, which will allow its Common Stock to continue trading while awaiting the Panel's decision [3] - Chijet intends to present a compliance plan during the hearing and request additional time to meet Nasdaq's listing requirements [3] Group 3: Company Overview - Chijet is engaged in the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles (NEVs) [4] - The company has a modern vehicle production base in Jilin, China, and is constructing a factory in Yantai dedicated to NEV production [4] - Chijet's management team consists of industry veterans with extensive experience in various fields including engineering, design, and financial management [4]