BAIYU Holdings Inc【BYU】株式ニュース

Shorts and competition trying to crush BAIYU HOLDINGS & make money off the downturn...

While the company is saying for fiscal year 2023:

134,558,086
commodities trading business revenue

67,981
supply chain management services revenue

For the three months ended March 31, 2024

28,089,681
commodities trading business revenue

2,466
supply chain management services revenue

For the FY 2023 and three months ended March 31, 2024

1,748,731
FY 2023 net income

1,998,802
three months net income

Renmei Ouyang, CEO of BAIYU, commented, "We are appealing the Nasdaq Staff's recent action because we believe that the Staff had not considered fully and appreciated the scope of work of the Company's dedicated management to secure these two significant opportunities. These two projects are natural extensions of the Company's bulk commodities trading business and align perfectly with our recent expansion into clean energy projects, including battery-charging stations. We are a company that lets the quality of our people, our experience and business plan speak for themselves."

In connection with the Company's announcement on August 29, 2024 of a purchase and sales contract for electric lithium batteries with a U.S.-based auto parts supplier, the Company continues to take steps to put in place the complementary and component elements of the transaction. The contract represents the official debut of the Company's proprietary lithium battery brand into the United States market, advancing its strategic positioning in the new energy sector. Separately, in connection with the Company's announcement on September 4, 2024 of the entry into a letter of intent, through one of the Company's subsidiaries with a Cairo, Egypt-based company to cooperate in the construction and operation of charging and swapping stations in Cairo, the Company also continues to take steps advancing the objective of entering into a definitive agreement. Those collaborative efforts are ongoing.

Ouyang further stated that "management's prioritization of expanding the Company's business footprint and building shareholder value should result in favorable consideration by Nasdaq in our appeal." Nevertheless, the Company acknowledges that it cannot predict the outcome of the appeal. Ouyang added that "we are committed to advancing expeditiously our efforts to maximize shareholder opportunities and value and pursue our business strategy uninterrupted."

BAIYU anticipates that its common stock will remain listed on the Nasdaq pending the outcome of the hearing and subsequent decision by a hearings panel. There can be no assurance that the panel will grant the Company's request for continued listing. Meanwhile, the Company continues to be current with its filings of periodic reports with the Securities and Exchange Commission, and expects to maintain the registration of its securities under the Securities Exchange Act of 1934, as amended. Moreover, the Nasdaq Staff's notice of determination of delisting does not affect the Company's business operations, financial position, or ability to meet all financial obligations to partners and other counterparties.

BAIYU remains committed to its diverse corporate mission with its focus on energy by continuing to develop and provide clean energy alternatives. For more information on BAIYU's ongoing initiatives and corporate developments, please visit www.baiyuglobal.com