CNTF [China Techfaith Wireless Communication Technology] 6-K: Non-Compliance Techfaith Receives Regarding Minimum Market Value of

Ticker: CNTF, Company: China Techfaith Wireless Communication Technology LTD, Type: 6-K, Date: 2019-07-08
Original SEC Filing: Click here


Webplus: CNTF/20190708/6-K_1/2_EX-99.1/000.htm SEC Original: d759577dex991.htm
Non-Compliance Techfaith Receives Regarding Minimum Market Value of Publicly Held Shares Beijing, China, July 5, 2019 The Company has a 180 days’ period, until December 26, 2019, to regain compliance with the $5,000,000 MVPHS. The Company’s ADSs will continue to be listed and trade on the Nasdaq Global Market during this period, unaffected by the receipt of the written notification



EX-99.1 2 d759577dex991.htm EX-99.1

Exhibit 99.1

Techfaith ReceivesNon-Compliance Notice From Nasdaq

Regarding Minimum Market Value of Publicly Held Shares

Beijing, China, July 5, 2019— China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) (“TechFaith” or the “Company”), today reported that it received a notice from the Listing Qualifications Department of Nasdaq advising the Company that it is not in compliance with Rule 5450(b)(1)(C) requiring maintenance of a minimum market value of publicly held shares (MVPHS) of $5,000,000.

The Company has a 180 days’ period, until December 26, 2019, to regain compliance with the $5,000,000 MVPHS. The Company’s 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. If the MVPHS closes at $5,000,000 or more for a minimum of ten consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.

In the event the Company does not regain compliance with the Rule prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. Alternatively, the Company may apply to transfer the Company’s securities to The Nasdaq Capital Market, subject to meeting the Nasdaq Capital Market’s continued listing requirements.

About TechFaith

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 TechFaith’s 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 TechFaith’s 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.


CONTACTS:

In China:

Jay Ji

China Techfaith Wireless Communication Technology Limited

Tel:86-10-5822-8866

ir@techfaith.cn

In the U.S.:

David Pasquale

Global IR Partners

Tel: +1914-337-8801

cntf@globalirpartners.com


Webplus: CNTF/20190708/6-K_1/1/000.htm SEC Original: d759577d6k.htm
Description 99.1 Press Release CHINA TECHFAITH WIRELESS COMMUNICATION TECHNOLOGY LIMITED Yuping Ouyang Chief Financial Officer 6-K 1 d759577d6k.htm FORM 6-K



6-K 1 d759577d6k.htm FORM 6-K


EXHIBIT INDEX

Exhibit
No.

Description

99.1 Press Release


SIGNATURES

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
By:

/s/ Yuping Ouyang

Name: Yuping Ouyang
Title: Chief Financial Officer

Date: July 5, 2019

Company Info:

Ticker: CNTF, Company: China Techfaith Wireless Communication Technology LTD, Type: 6-K, Date: 2019-07-08CIK: 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)
BEIJING 100176

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By | 2019-07-09T03:31:55+00:00 July 8th, 2019|Categories: Chinese Stocks, CNTF, Webplus ver|Tags: , , , , , |0 Comments

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