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Neo-Concept International Group Holdings Ltd: January 2025 SEC 6-K Report on Nasdaq Compliance

$NCI
Form 6-K
Filed on: 2025-01-08
Source
Neo-Concept International Group Holdings Ltd: January 2025 SEC 6-K Report on Nasdaq Compliance

Here are the key insights extracted from the financial report of Neo-Concept International Group Holdings Ltd:

  1. Report Type and Filing: The document is a Form 6-K, which is a report of a foreign private issuer filed with the SEC, specifically for the month of January 2025.
  2. Company Information:
  • Name: Neo-Concept International Group Holdings Ltd
  • Address: 10/F, Seaview Centre, No.139-141 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong.
  • Commission File Number: 333-275242.
  1. Compliance Issues with Nasdaq:
  • On July 9, 2024, the company received a notification from Nasdaq that it did not meet the continued listing requirement due to its share price falling below the minimum bid price of $1 per share from May 21, 2024, to July 5, 2024.
  • The company was given a compliance period of 180 days, expiring on January 6, 2025, to rectify this issue.
  • On January 7, 2025, Nasdaq granted an extension of another 180 days until July 7, 2025, to regain compliance with the minimum bid price requirement.
  1. Future Implications:
  • If the company fails to demonstrate compliance by July 7, 2025, it risks delisting from Nasdaq.
  • The company has the option to appeal Nasdaq's decision to a Hearings Panel if notified of the intent to delist.
  1. Company's Intentions:
  • The company is actively evaluating options to regain compliance and aims to meet Nasdaq's continued listing requirements. However, there is no certainty that compliance will be achieved.
  1. Exhibits:
  • The report includes an exhibit, specifically a press release dated January 8, 2025.
  1. Signature:
  • The report is signed by Eva Yuk Yin Siu, the Chief Executive Officer, Chairlady of the Board, and Director of the company.

This report highlights the company's ongoing struggle to meet Nasdaq's listing requirements and the potential consequences of non-compliance, which could affect its market standing and shareholder value.