Business
China Recycling Energy Corporation Regains Compliance with NASDAQ Minimum Bid Requirement
XI'AN, China, May 04, 2020 (GLOBE NEWSWIRE) -- China Recycling Energy Corporation (Nasdaq: CREG) ("CREG" or the "Company"), an industrial waste-to-energy
About this update from Smart Powerr Corp.
[{"type":"text","content":"XI'AN, China, May 04, 2020 (GLOBE NEWSWIRE) -- China Recycling Energy Corporation (Nasdaq: CREG) (\"CREG\" or the \"Company\"), an industrial waste-to-energy solution provider in China, today announced that based on a notification letter recently received from the Listing Qualifications Department of the Nasdaq Stock Market Inc. (the “Nasdaq”), the Company has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules. \n According to the notification letter, the staff of Nasdaq determined that for the 10 consecutive business days, beginning from April 15, 2020 to April 28, 2020, the closing bid price of the Company’s common stock has been at $1.00 per share or greater, and the Company has regained compliance with the minimum bid price requirement. Accordingly, the matter is now closed. About China Recycling Energy Corp. China Recycling Energy Corporation (Nasdaq: CREG) (\"CREG\" or \"the Company\") is based in Xi'an, China and provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories and coke plants in China. Byproducts include heat, steam, pressure, and exhaust to generate large amounts of lower-cost electricity and reduce the need for outside electrical sources. The Chinese government has adopted policies to encourage the use of recycling technologies to optimize resource allocation and reduce pollution. Currently, recycled energy represents only an estimated 1 percent of total energy consumption and this renewable energy resource is viewed as a growth market due to intensified environmental concerns and rising energy costs as the Chinese economy continues to expand. The management and engineering teams have over 20 years of experience in industrial energy recovery in China. Safe Harbor Statement This press release may contain certain \"forward-looking statements\" relating to the business of CREG and its subsidiary companies. All statements, other than statements of historical fact included herein are \"forward-looking statements.\" These forward-looking statements are often identified by the use of forward-looking terminology such as \"believes,\" \"expects\" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in ...