Delisting Determination, The Nasdaq Stock Market, LLC, April 12, 2023,
Pingtan Marine Enterprise Ltd.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the ordinary shares of Pingtan Marine Enterprise Ltd.,
effective at the opening of the trading session on May 12, 2023.
Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rule 5101. The Company was
notified of the Staff determination on December 21, 2022.
On December 28, 2022, the Company exercised its right to appeal
the Staff determination to the Hearings Panel (Panel) pursuant to
Rule 5815. A hearing was held on February 9, 2023. On February 27, 2023,
upon review of the information provided by the Company, the Panel
determined to affirm Staff delist determination and deny the Company
request to remain listed in the Exchange. The Company securities were
suspended on March 1, 2023. The Company did not appeal the Panel decision
to the Nasdaq Listing and Hearing Review Council (Council) and the
Council did not call the matter for review. The Staff determination to
delist the Company became final on April 13, 2023.