ITEM 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On August 18, 2021, China XD Plastic Company Limited (the "Company") received a
letter (the "Letter") from the Listing Qualifications Department of the Nasdaq
Stock Market ("Nasdaq") notifying the Company that it was not in compliance with
requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely
filed its Quarterly Report on Form 10-Q for the quarterly period ended June 30,
2021 and because the Company has not yet filed its Annual Report on Form 10-K
for the fiscal year ended December 31, 2020 (the "Form 10-K") and its Quarterly
Report on Form 10-Q for the quarterly period ended March 31, 2021.
The Letter has no immediate effect on the listing or trading of the Company's
common stock on the Nasdaq Global Market. The Letter states that, based on
Nasdaq's review of the Company's previously submitted plan of compliance (the
"Plan of Compliance") and discussion with the Company on July 26, 2021, the
Company is required to submit a written update of the audit work to date and
audit procedures which still need to be completed along with a timeline for
completion of each of the delinquent reports stated herein. If the Company's
Plan of Compliance is accepted by Nasdaq, then Nasdaq can grant the Company up
to 180 calendar days from the due date of the Form 10-K to regain compliance.
On August 31, 2021, the Company issued a press release announcing its receipt of
the Letter. A copy of the press release is attached as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated herein by reference.
ITEM 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit No. Description
99.1 Press release dated August 31, 2021
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CHINA XD PLASTICS COMPANY LIMITED 