Phoenix Motor regains compliance with Nasdaq listing

Phoenix Motor (PEV) has received confirmation from The Nasdaq Stock Market that the Company has regained compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission. On November 20, 2024, Nasdaq Staff notified the Company that it was not in compliance with the Rule due to a delay in filing its periodic financial reports. However, following the Company’s filing of its Form 10-Q for the period ended September 30, 2024, on February 12, 2025, Nasdaq has confirmed that the Company has now met the requirements under the Rule. Accordingly, this matter is now closed.