BEIJING, Jan. 16, 2019 /PRNewswire/ -- China Advanced Construction Materials Group, Inc. (Nasdaq CM: CADC) (the "Company" or "China ACM"), a construction company engaging in the production of advanced construction materials for large scale infrastructure, commercial and residential developments, is pleased to announce that it has regained compliance with Nasdaq's periodic filing requirement and annual meeting requirement.
On January 11, 2019, the Company received a written notification from the NASDAQ Stock Market Listing Qualifications Staff (the "Nasdaq Staff") indicating that the Company has regained compliance with the periodic filing requirement for continued listing on the NASDAQ Capital Market pursuant to NASDAQ Listing Rule 5250(c)(1) (the "Periodic Filing Requirement") based on the December 10, 2018 filing of the Company's Form 10-K for the fiscal year ended June 30, 2018 and the January 4, 2019 filing of the Company's Form 10-Q for the period ended September 30, 2018.
Additionally, Nasdaq Staff indicated that the Company has regained compliance with the annual meeting requirement for The NASDAQ Capital Market pursuant to Listing Rule 5620 (the "Annual Meeting Requirement") based on the December 27, 2018 filing of the Company's Form 8-K disclosing the Company's annual meeting of shareholders held earlier that day.
About China Advanced Construction Materials Group, Inc.
China ACM is a producer of advanced, certified eco-friendly ready-mix concrete (RMC) and provider of related technical services for large scale, and other complex infrastructure projects. Leveraging its proprietary technology and value-add engineering services model, the Company has won work on many high profile projects including the 30,000 km China HSR expansion, the Olympic Stadium Bird's Nest, Beijing South Railway Station, Beijing International Airport, National Centre for Performing Arts, CCTV Headquarters, Beijing Yintai Building and U.S. and French embassies in China.
This press release contains forward-looking statements, including but not limited to statements that concern the company's ability to comply with Nasdaq Listing Rules and the continued listing of the Company's shares on Nasdaq. These forward-looking statements are not historical facts, and instead are based on our current expectations, estimates, opinions, and beliefs. Consequently, you should not rely on these forward-looking statements. The accuracy of such forward-looking statements depends upon future events, and involves risks, uncertainties, and other factors beyond our control that may cause these statements to be inaccurate and cause our actual results, performance, or achievements to differ materially and adversely from those anticipated or implied by such statements, including, among others: the risk that the completion and filing of the periodical reports will take longer than expected or may not be completed at all; the risk that the company will be unable to submit a plan to regain compliance to Nasdaq before the due date or that any such plan may not be accepted by Nasdaq; the risk that the company will be unable to comply with the listing standards for the Nasdaq market; and the risks more fully described in "Item 1A. Risk Factors" in China ACM's Annual Report on Form 10-K for the fiscal year ended June 30, 2017. China ACM does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.
For more information, please contact:
WEI ZHANG, Investor Relations
China Advanced Construction Materials Group, Inc.
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SOURCE China Advanced Construction Materials Group, Inc.