PV manufacturer China Sunergy (CSUN) has said it has received a second de-listing notice from the NASDAQ stock market, having only returned to compliance in July, 2015.
Previously, CSUN regained compliance with NASDAQ rules in July after previously failing to file quarterly and annual reports. CSUN filed its 2014 annual report on July 20.
However, the latest de-listing notice concerns non-compliance with the US$15 million required minimum market value of publicly held shares.
CSUN has 180 calendar days to regain compliance which includes a minimum of ten consecutive business days that the minimum market value of shares meets the US$15 million minimum.
The PV module manufacturer had also raised ‘going concern’ issues within its annual report.