JIUQUAN, China, April 26,
2023 /PRNewswire/ -- Qilian International Holding
Group Limited (NASDAQ: QLI) ("Qilian" or the
"Company"), a China-based
pharmaceutical and chemical products manufacturer, previously
announced that on February 16, 2023,
it received a written notice (the "Notice") from the Listing
Qualifications Department of The Nasdaq Stock Market ("NASDAQ")
indicating that the Company was not in compliance with NASDAQ
Listing Rule 5250(c)(1) for continued listing (the "Rule") as a
result of not having timely filed its annual report on Form 20-F
for the year ended September 30, 2022.
On April 19, 2023, the Company
filed the Form 20-F, and on April 20,
2023, the Company received a second letter from NASDAQ
stating that based on the April 19,
2023 filing of the Company's Form 20-F, NASDAQ has
determined that the Company complies with the Rule. Accordingly,
NASDAQ informed the Company that it now considers this matter
closed.
About Qilian International Holding Group
Limited
Qilian International Holding Group Limited,
headquartered in Gansu, China, is
a pharmaceutical and chemical products manufacturer in China. It focuses on the development,
manufacture, marketing and sale of licorice products,
oxytetracycline products, traditional Chinese medicine derivatives
product, heparin product, sausage casings, and fertilizers. The
Company's products are sold in more than 20 provinces in
China. For more information, visit
the Company's website at http://ir.qlsyy.net.
Forward Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not
relate solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the Company's
future business development; products demand and acceptance;
changes in technology; economic conditions; reputation and brand;
the impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China; the COVID-19 outbreak and
its impact on our operations and assumptions underlying or related
to any of the foregoing and other risks contained in reports filed
by the Company with the Securities and Exchange Commission. For
these reasons, among others, investors are cautioned not to place
undue reliance upon any forward-looking statements in this press
release. Additional factors are discussed in the Company's filings
with the U.S. Securities and Exchange Commission, which are
available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
For media enquiries, please contact: Yubin Jiang, QLI@qlsyy.net.
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SOURCE Qilian International Holding Group Limited