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China Sunergy Regains Compliance with Nasdaq Listing Standards

published: 2015-03-23 11:48

China Sunergy, a specialized solar cell and module manufacturer, had received a letter from the Listing Qualifications Department of the NASDAQ Stock Market, on March 10, 2015 (the "Letter"), informing the Company that it has regained compliance with the continued listing requirements under NASDAQ listing Rule 5250(c)(2) and 5450(b)(2)(C).

On January 7, 2015, the company received a letter from NASDAQ, indicating that, the company failed to file on Form 6-K, an interim balance sheet and income for the period ended June 30, 2014, as required by Listing Rule 5250(c)(2). Additionally, on January 22, 2015, Nasdaq Staff notified the Company that it no longer met the minimum market value of publicly held shares (MVPHS) of $15,000,000 for continued listing on the Nasdaq Global Market pursuant to the Listing Rule 5450(b)(2)(C).

However, on March 3, 2015, China Sunergy filed its second quarter interim financials on Form 6-K for the period ended June 30, 2014. Furthermore, for ten consecutive trading days, from February 12, 2015 to March 9, 2015, the company's MVPHS has been $15,000,000 or greater. Accordingly, China Sunergy has regained compliance with the Listing Rules and these matters are now closed.

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