BEIJING, July 5, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (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.
BEIJING, June 14, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (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 Company's 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.
BEIJING, Aug. 2, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (CNTF) ("TechFaith" or the "Company"), today announced that through a series of negotiation and agreements since December 2018, it made an investment into a real estate development project in Nanjing, China. Techfaith extended a five-year RMB400 million loan, with an interest rate of 10% per annum, to and obtained a 15% equity interest in such project company. The project company acquired land use right of approximately 90,000 square meters, with plans to acquire additional lands to build real estate properties of more than 500,000 square meters in Nanjing, China.
BEIJING, Aug. 2, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (CNTF) ("TechFaith" or the "Company"), today announced that it received a notification letter from Nasdaq Listing Qualifications ("Nasdaq") stating that the Company was not in compliance with Nasdaq Listing Rule 5250(b)(1) due to its failure to disclose certain material information. The Company made an announcement regarding the material information identified in the Nasdaq notification letter earlier today. The Nasdaq notification letter provides the Company seven calendar days from the date of the notification, or until August 5, 2019, to submit a plan to Nasdaq to regain compliance with the Nasdaq's continued listing requirements.
BEIJING , Sept. 12, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that it received a delisting ...