Top KingWin Ltd. Received Nasdaq Delisting Notice Subject to Hearing Request
Top KingWin (NASDAQ:WAI) received a delisting notice from Nasdaq on August 18, 2025, due to its stock price closing below $1 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
The company is not eligible for the standard 180-day compliance period due to a previous reverse stock split in May 2025. Top KingWin must request a hearing appeal by August 25, 2025 to avoid suspension of trading on August 27, 2025. The company has already secured shareholder approval for another reverse stock split to regain compliance.
Top KingWin (NASDAQ:WAI) ha ricevuto un avviso di esclusione da Nasdaq il 18 agosto 2025, poiché il prezzo delle azioni ha chiuso sotto $1 per azione per 30 giorni lavorativi consecutivi, violando la Regola di quotazione Nasdaq 5550(a)(2).
L'azienda non ha diritto al periodo standard di adeguamento di 180 giorni a causa di uno split inverso avvenuto a maggio 2025. Top KingWin deve richiedere un'udienza d'appello entro 25 agosto 2025 per evitare la sospensione delle negoziazioni prevista per il 27 agosto 2025. La società ha già ottenuto l'approvazione degli azionisti per un nuovo split inverso per tornare conforme.
Top KingWin (NASDAQ:WAI) recibió un aviso de exclusión por parte de Nasdaq el 18 de agosto de 2025, debido a que el precio de sus acciones cerró por debajo de $1 por acción durante 30 días hábiles consecutivos, incumpliendo la Norma de cotización Nasdaq 5550(a)(2).
La compañía no puede acogerse al periodo estándar de cumplimiento de 180 días por un split inverso previo en mayo de 2025. Top KingWin debe solicitar una audiencia de apelación antes del 25 de agosto de 2025 para evitar la suspensión de negociación el 27 de agosto de 2025. La empresa ya obtuvo la aprobación de los accionistas para otro split inverso con el fin de recuperar el cumplimiento.
Top KingWin (NASDAQ:WAI)은(�) 2025� 8� 18� 나스닥으로부� 상장폐지 통지� 받았으며, 주가가 연속 30 영업� 동안 주당 $1 미만으로 마감되어 나스� 상장규정 5550(a)(2)� 위반했습니다.
회사� 2025� 5� 실시� 역병�(리버� 스플�)으로 인해 표준 180� 준� 기간� 적용받을 � 없습니다. Top KingWin은 2025� 8� 25�까지 심리(항소) 요청� 해야 2025� 8� 27� 거래 중단� 피할 � 있습니다. 회사� 이미 준수를 회복하기 위해 � 다른 역병합에 대� 주주 승인� 확보했습니다.
Top KingWin (NASDAQ:WAI) a reçu un avis de radiation de la part du Nasdaq le 18 août 2025, car le cours de l'action a clôturé en dessous de 1 $ par action pendant 30 jours ouvrables consécutifs, en violation de la règle de cotation Nasdaq 5550(a)(2).
La société n'est pas éligible à la période de conformité standard de 180 jours en raison d'une opération de reverse split en mai 2025. Top KingWin doit demander une audience d'appel avant le 25 août 2025 pour éviter la suspension des négociations le 27 août 2025. La société a déjà obtenu l'approbation des actionnaires pour un nouveau reverse split afin de retrouver la conformité.
Top KingWin (NASDAQ:WAI) erhielt am 18. August 2025 eine Delisting-Mitteilung von Nasdaq, da der Aktienkurs an 30 aufeinanderfolgenden Geschäftstagen unter $1 pro Aktie geschlossen hatte und damit gegen Nasdaq Listing Rule 5550(a)(2) verstoßen wurde.
Das Unternehmen ist aufgrund eines vorherigen Reverse Splits im Mai 2025 nicht für den üblichen 180-tägigen Nachfristzeitraum berechtigt. Top KingWin muss bis zum 25. August 2025 eine Anhörung bzw. Berufung beantragen, um die Aussetzung des Handels am 27. August 2025 zu vermeiden. Die Gesellschaft hat bereits die Zustimmung der Aktionäre für einen weiteren Reverse Split erhalten, um die Konformität wiederherzustellen.
- Shareholders have approved a reverse stock split to address compliance issues
- Company has the opportunity to appeal the delisting determination
- Stock price has fallen below $1 for 30 consecutive business days
- Company faces potential delisting from Nasdaq
- Previous reverse stock split in May 2025 failed to maintain compliance
- Not eligible for standard 180-day compliance period
Insights
Top KingWin faces imminent Nasdaq delisting due to sub-$1 share price with limited remediation options after recent reverse split.
Top KingWin's delisting notice represents a significant regulatory challenge with potentially severe consequences for shareholders. The company has breached Nasdaq Listing Rule 5550(a)(2) with shares trading below
This sequence suggests persistent valuation issues that the previous reverse split failed to resolve. When companies resort to multiple reverse splits in short succession, it often indicates underlying fundamental problems rather than temporary market fluctuations. The fact that Top KingWin has already secured shareholder approval for another reverse split suggests management anticipated this scenario, but also raises questions about the effectiveness of this strategy given the failure of the previous split.
While the company's appeal will temporarily maintain its listing status, this reprieve is likely short-lived without substantial price improvement. Delisting would force trading to over-the-counter markets, typically resulting in reduced liquidity, institutional investor exodus, decreased analyst coverage, and potential loan covenant violations. For Chinese companies like Top KingWin, maintaining U.S. exchange listings has become increasingly challenging amid heightened regulatory scrutiny from both countries. This notice represents a critical inflection point for the company's future as a publicly traded entity in U.S. markets.
SHENZHEN, China, Aug. 22, 2025 (GLOBE NEWSWIRE) -- Top KingWin Limited ("Top KingWin" or the "Company") (Nasdaq: ), announced today that the Company received a letter from the Nasdaq Stock Market LLC (“Nasdaq�) on August 18, 2025, notifying the Company that the Nasdaq staff has determined to delist the Company’s class A ordinary shares from The Nasdaq Capital Market (the “Delisting Determination�), because the bid price of the Company’s listed securities has closed at less than
The Company was provided until August 25, 2025 to request an appeal of the Delisting Determination to the hearing panel. The Company intends to request such hearing to appeal the Delisting Determination before that date, which will stay the suspension of its securities from the date of the request, during which time such securities will continue to be listed on The Nasdaq Capital Market.
If the Company fails to request an appeal of the Delisting Determination by August 25, 2025, trading of the Company’s ordinary shares will be suspended at the opening of business on August 27, 2025, and a Form 25-NSE will be filed with the U.S. Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market.
The Company has secured the shareholders� approval for a reverse stock split in order to regain compliance with the aforementioned rules.
About Top KingWin Ltd
Top KingWin’s main clients are entrepreneurs and executives in small and medium-sized enterprises in China. Services provided by Top KingWin to its clients including (i) corporate business training services, which mainly focus on providing training services of advanced knowledge and new perspectives on the capital markets, (ii) corporate consulting services, which mainly focus on providing a combination of customized corporate consulting services to fulfill client's unique financial needs, (iii) advisory and transaction services, which mainly focus on connecting entrepreneurs and businesses with diversified sources of capital, and (iv) sales of devices to support artificial intelligence data collection and analysis. Its mission is to provide comprehensive services to address clients' needs throughout all phases of their development and growth.
Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, the use of proceeds from the Company's offering, the intent, belief or current expectations of Top KingWin and members of its management, as well as the assumptions on which such statements are based. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,� “will,� “expect,� “anticipate,� “aim,� “estimate,� “intend,� “plan,� “believe,� “potential,� “continue,� “is/are likely to� or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and in its other filings with the SEC.
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