Ticker: CNTF, Company: China Techfaith Wireless Communication Technology LTD, Type: 6-K, Date: 2019-06-14
Original SEC Filing: Click here
Webplus: CNTF/20190614/6-K/2_EX-99.1/000.htm SEC Original: d765560dex991.htm
TechFaith Receives Nasdaq Notification Regarding Minimum Bid Requirements Beijing, China, June 14, 2019 – 180-day The notification has no immediate effect on the listing of the Companys ADSs on the Nasdaq Global Market. The Company intends to monitor the closing bid price of its ADSs between now and December 9, 2019 and intends to consider available options to cure the
TechFaith Receives Nasdaq Notification Regarding Minimum Bid Requirements
Beijing, China, June 14, 2019 -China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) (TechFaith or the Company) today announced that it has received a letter from The Nasdaq Stock Market LLC (Nasdaq), dated June 12, 2019, notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1) (the Rule). It has resulted from the fact that the bid price of the Companys American Depositary Shares (ADSs) closed below US$1 per share for the last 30 consecutive business days. The Company has a grace period of 180 calendar days, expiring on December 9, 2019, in which to regain compliance. The Company will regain compliance if, at any time during this180-day period, the closing bid price of the Companys security is at least $1 for a minimum of ten consecutive business days. In the event the Company does not regain compliance with the Rule within 180 calendar days, the Company may be eligible for additional time.
The notification has no immediate effect on the listing of the Companys ADSs on the Nasdaq Global Market. The Company intends to monitor the closing bid price of its ADSs between now and December 9, 2019 and intends to consider available options to cure the deficiency and regain compliance with the Rules minimum bid price requirement within the prescribed grace period. The Companys ADSs will continue to be listed and trade on the Nasdaq Global Market during this period, unaffected by the receipt of the written notification from Nasdaq.
This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.
TechFaith (NASDAQ: CNTF) is a developer, owner and operator of commercial real estate properties across China as well as a China-based mobile solutions provider for the global mobile handsets market. TechFaith continues to maintain a team of professional engineers focused on the development of ruggedized smart devices for both its consumer and enterprise segments, although it started investing in the construction of buildings and facilities in 2009 as part of its growth and business diversification strategy, gradually shifting away from its traditional focus on the mobile solutions and handset markets. The Company currently focuses on developing office space that can serve as anchor bases in areas with developing economies, as it meets the needs of both established businesses and innovativestart-up companies in China. For more information, please visit www.techfaithwireless.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, future, intends, plans, believes, estimates, confident, outlook and similar statements. TechFaith may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms20-F and6-K, among others, and in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about TechFaiths beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in TechFaiths filings with the U.S. Securities and Exchange Commission, including its annual report on Form20-F. TechFaith does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
China Techfaith Wireless Communication Technology Limited
In the U.S.:
Global IR Partners
Webplus: CNTF/20190614/6-K/1/000.htm SEC Original: d765560d6k.htm
Description 99.1 Press Release CHINA TECHFAITH WIRELESS COMMUNICATION TECHNOLOGY LIMITED Yuping Ouyang Chief Financial Officer 6-K 1 d765560d6k.htm FORM 6-K
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.
|CHINA TECHFAITH WIRELESS COMMUNICATION TECHNOLOGY LIMITED|
/s/ Yuping Ouyang
|Title:||Chief Financial Officer|
Date: June 14, 2019
Ticker: CNTF, Company: China Techfaith Wireless Communication Technology LTD, Type: 6-K, Date: 2019-06-14CIK: 0001316317, Location: F4, SIC: 7389, SIC Desc: SERVICES-BUSINESS SERVICES, NEC
Business Phone & Address:
BUILDING 1, NO. 13, YONGCHANG NORTH ROAD, BEIJING ECON-TECH DEV AREA (YI ZHUANG)