Golden Heaven Group Holdings Ltd. Announces Receipt of Nasdaq Delisting Decision, Plans to Appeal

NANPING, China, August 14, 2024 (GLOBE NEWSWIRE) — Golden Heaven Group Holdings Ltd. (“Golden Heaven” or the “Company”) (Nasdaq: GDHG), an amusement park operator in China, today announced that the Company received an employment determination letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq on August 9, 2024 Stock Market LLC (“Nasdaq”) notifying the Company that, due to the Company’s inability to re-meet the minimum bid price of $1.00 per share for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bidding Requirement”), Nasdaq has determined (the “Determination”) that the Company’s securities will be scheduled for delisting from Nasdaq unless the Company files an appeal of such Determination. ​at a hearing panel (the “Panel”).

On February 8, 2024, the Company received a letter from Nasdaq (the “Notice”) informing the Company that, based on the closing price of its Class A common stock during the last 30 consecutive business days prior to the Notice, the Company was not in compliance with the Minimum Bid Requirement. In accordance with Listing Rule 5810(c)(3)(A), the Notice gave the Company a period of 180 calendar days from the date of the Notice, or until August 6, 2024, to come back into compliance with the Minimum Bid Requirement.