ZIBO, China, Sept. 10, 2024 — Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that it has regained compliance with the minimum bid price requirement for continued listing on Nasdaq, as per NASDAQ Listing Rule 5550(a)(2). The Company received formal notification from Nasdaq Capital Market, LLC (“Nasdaq”) on September 9, 2024, confirming this status.
The Nasdaq staff made this determination after the closing bid price of the Company’s common stock reached $1.00 per share or greater for the last 10 consecutive business days from August 22, 2024 to September 6, 2024. This marks the Company’s regained compliance with Nasdaq Listing Rule 5550(a)(2), and the bid price deficiency matter is now closed.
About Sunrise New Energy Co., Ltd
Headquartered in Zibo, Shandong Province, China, Sunrise New Energy Co., Ltd., through its joint venture, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. The Company’s joint venture has successfully built a manufacturing facility with a production capacity of 50,000 tons in Guizhou Province, China. The plant utilizes cost-effective electricity generated from renewable sources, positioning Sunrise New Energy as a low-cost and environmentally friendly producer of graphite anode material. Mr. Haiping Hu, the founder and CEO of the Company, is a leading figure in the Chinese graphite anode industry, having started his contributions in 1999. The Company’s management team is also composed of experts with years of experiences and strong track-records of success in the graphite anode industry. In addition, the Company also operates a knowledge sharing platform in China. For further information, please visit the Company’s website at .
Forward-looking statement
Certain statements in this press release regarding the Company’s future expectations, plans and prospects constitute forward-looking statements as defined by Private Securities Litigation Reform Act of 1995. These statements, including those about plans, goals, objectives, strategies, future events, expected results, assumptions, and factual statements that have not yet occurred, are considered forward-looking. Any words such as “may”, “will”, “want”, “should”, “believe”, “expect”, “anticipate”, “estimate”, or similar non-factual expressions, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or the contents expressed in these forward-looking statements. These factors include, but are not limited to, the company’s strategic objectives, the company’s future plans, market demand and user acceptance of the company’s products or services, technological updates, economic trends, the company’s reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, the ups and downs of China’s macroeconomic conditions, the relevant international market conditions, and other related risks and assumptions disclosed in the Company’s Annual Report on Form 20-F published on the SEC’s website. In view of the above and other related reasons, we urge investors to visit the SEC’s website and consider other factors that may affect the Company’s future operating results. The Company is under no obligation to make public amendments to changes in these forward-looking statements unless required by law.
For more information, please contact:
The Company:
IR Department
Email:
Phone: +86 4009919228