TechFaith Receives Notification of Deficiency From Nasdaq Related to Delayed Filing of Annual Report on Form 20-F
CHINA TECHFAITH WIRELESS (CNTF)
US:NASDAQ Investor Relations:
ir.techfaithwireless.com
Company Research
Source: PR Newswire
BEIJING, May 7, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced it has received a standard notice from NASDAQ stating that, as a result of not having timely filed its annual report on Form 20-F for the year ended December 31, 2018, TechFaith is not in compliance with NASDAQ Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission. This notice has no immediate effect on the listing or trading of TechFaith's American depositary shares on the Nasdaq Global Select Market.Under NASDAQ's listing rules, the Company has 60 calendar days from the date of the notice to submit a plan to regain compliance. If the plan is accepted by NASDAQ, the Company can be granted up to 180 calendar days from the Form 20-F's due date, to regain compliance. TechFaith expects to submit a plan to regain compliance or file its Form 20-F within the
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