Elong Power Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)

Core Viewpoint - Elong Power Holding Limited has received a notice from Nasdaq regarding non-compliance with listing rules due to the failure to file its Form 20-F for the fiscal year ended December 31, 2024 [1][2]. Group 1: Compliance and Regulatory Matters - The company has 60 calendar days to submit a plan to Nasdaq to regain compliance with the listing rule [2]. - If Nasdaq accepts the plan, the company may receive an extension of up to 180 calendar days, with a new deadline of October 17, 2025 [2]. - The notice does not currently affect the trading of the company's Ordinary Shares, which will continue to trade under the symbol "ELPW" [3]. Group 2: Company Overview - Elong Power is a provider of high power battery technologies for commercial and specialty alternative energy vehicles and energy storage systems [1]. - The company focuses on the research, development, manufacturing, sales, and service of high-power lithium-ion batteries for electric vehicles and energy storage systems [4]. - Elong Power's product portfolio includes lithium manganese oxide and lithium iron phosphate batteries, catering to high-power and energy storage applications [5].