Summary by Moomoo AI
Jin Medical International Ltd., a foreign private issuer, has been notified by the Nasdaq Listing Qualifications Department of non-compliance issues that could lead to the delisting of the company's securities. On December 18, 2023, the company received a letter from Nasdaq for not providing a detailed compliance plan and failing to meet the 300 Round Lot Holder requirement. Jin Medical International has requested a hearing with the Nasdaq Hearings Panel, which has stayed the delisting pending a final decision. The hearing is scheduled for March 14, 2024, where the company must show its ability to regain and maintain compliance. Further complicating matters, on February 21, 2024, Nasdaq cited the company for not filing its Form 20-F for the period ended September 30, 2023, which will also be reviewed at the hearing. Jin Medical International is currently reviewing its position and considering remedial actions to address these compliance issues.
