J-Long Group Receives Nasdaq Deficiency Notice

TL;DR

Nasdaq sent J-Long a deficiency notice, they have 30 days to fix it or get delisted.

AI Summary

On May 13, 2024, J-Long Group Limited received a deficiency notice from Nasdaq regarding its failure to meet continued listing requirements for the last 30 consecutive business days. The company is required to submit a plan to regain compliance by June 12, 2024, or face delisting procedures.

Why It Matters

This notice indicates potential delisting from Nasdaq, which could significantly impact the company's stock liquidity and investor confidence.

Risk Assessment

Risk Level: medium — The company is at risk of being delisted from Nasdaq if it cannot submit an acceptable plan to regain compliance with listing requirements.

Key Numbers

• 30 — consecutive business days (The period J-Long Group failed to meet Nasdaq's listing requirements.)

Key Players & Entities

• J-Long Group Limited (company) — The company that received the deficiency notice.
• Nasdaq (company) — The stock exchange that issued the deficiency notice.
• May 13, 2024 (date) — Date the deficiency notice was received.
• June 12, 2024 (date) — Deadline for J-Long Group to submit a plan to regain compliance.

FAQ

Key Financial Figures

• $1.00 — s”) had been below the minimum of $1.00 per Ordinary Share required for continu
• $5,000 — er Application and pay a non-refundable $5,000 application fee. Also, the Company will

Filing Documents

• ea0206361-6k_jlong.htm (6-K) — 12KB
• ea020636101ex99-1_jlong.htm (EX-99.1) — 6KB
• ea020636101ex99-2_jlong.htm (EX-99.2) — 19KB
• ex99-2_001.jpg (GRAPHIC) — 2KB
• ex99-2_002.jpg (GRAPHIC) — 1KB
• 0001213900-24-044524.txt ( ) — 44KB

From the Filing

OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 May 17, 2024 Commission File Number 001-41901 J-Long Group Limited (Registrant’s Name) Flat F, 8/F, Houston Industrial Building 32-40 Wang Lung Street, Tsuen Wan New Territories, Hong Kong (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On May 13, 2024, J-Long Group Limited (“JL” and the “Company”) received a deficiency notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s ordinary shares (the “Ordinary Shares”) had been below the minimum of $1.00 per Ordinary Share required for continued listing on The Nasdaq Global Market (the “Minimum Bid Price Rule”). The Notice has no immediate effect on the listing of the Ordinary Shares, which will continue to trade on The Nasdaq Global Market under the symbol “JL” without interruption at this time. In accordance with Nasdaq Listing Rules, the Company has 180 calendar days, or until November 11, 2024, to regain compliance with the Minimum Bid Price Rule. If at any time before November 11, 2024, the closing bid price of the Ordinary Shares is at least $1.00 per Ordinary Share for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance and the matter will be closed. If the Company does not regain compliance with the Minimum Bid Price Rule by November 11, 2024, the Company may be eligible for an additional 180 day calendar period to regain compliance or be subject to delisting. To qualify for the additional time, the Company must submit an on-line Transfer Application and pay a non-refundable $5,000 application fee. Also, the Company will be required to meet the continued listing requirements regarding the market value of publicly held Ordinary Shares and all other initial listing standards, except for the minimum bid price requirement. In addition, the Company will be required to notify Nasdaq of its intent to cure the deficiency by effecting a reverse stock split, if necessary, during the additional compliance period. The Company intends to actively monitor the closing bid price for its Ordinary Shares and will consider available options to resolve the deficiency and regain compliance with the Minimum Bid Price Rule. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Rule. EXHIBITS Number Description 99.1 Press Release of J-Long Group Limited dated May 16, 2024. 99.2 Letter from the NASDAQ Stock Market dated May 13, 2024, regarding the failure to comply with the Minimum Bid Price required under Listing Rule 5450(a)(2). 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. J-Long Group Limited By: /s/ Edwin Chun Yin Wong Name: Edwin Chun Yin Wong Title: Chief Executive Officer and Director Date: May 17, 2024 2

View Full Filing

View this 6-K filing on SEC EDGAR