China Sunergy: Nasdaq Listing Standards
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NANJING, China - China Sunergy Co., Ltd. (CSUN) ("China Sunergy" or "the Company"), a specialized solar cell and module manufacturer, announced that it had received a letter from the Listing Qualifications Department of the NASDAQ Stock Market, on January 22, 2015 (the "Letter"), informing the Company that it does not comply with the Nasdaq maintenance standard set forth in Nasdaq Listing Rules (the "Listing Rule") 5450(b)(3)(C) related to the maintenance of minimum market value of publicly held shares ("MVPHS") of $15,000,000.
Pursuant to the Listing Rule 5810(c)(3)(D), the Company is provided with a compliance period of 180 calendar days to regain compliance. If at anytime during this compliance period the Company's MVPHS closes at $15,000,000 or more for a minimum of ten consecutive business days, it will receive a written confirmation of compliance and this matter will be closed.
This announcement is being made in compliance with Listing Rule 5810(b), which requires prompt disclosure of receipt of a noncompliance letter.
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (CSUN) designs, manufactures and delivers high efficiency solar cells and modules to the world from its production centers based in China and Turkey. China Sunergy also invests in high potential solar projects. Founded in 2004, China Sunergy is well known for its advanced solar cell technology, reliable product quality, and excellent customer service.
For more information, please visit http://www.csun-solar.com.