Elong Power Faces Nasdaq Compliance Challenges Amid Strategic Developments

ELONG POWER HOLDING LIMITED: Company Overview

Elong Power Holding Limited (NASDAQ: ELPW) is a Cayman Islands exempted company established in 2014, specializing in the research, development, manufacturing, and sale of high-power lithium-ion batteries. The company’s product lines serve commercial electric vehicles, construction and mining machinery, as well as large-capacity energy storage systems. Headquartered in Ganzhou, Jiangxi Province, Elong Power operates two production facilities: one in Ganzhou with approximately 92,000 square meters of construction area and another in Zibo, Shandong, covering about 15,000 square meters.

Corporate Structure and Experience

Elong Power is led by Chairwoman and CEO Xiaodan Liu and a core management team with over ten years of combined industry experience. The company’s dual-plant footprint underscores a substantial manufacturing operation. Its organizational structure encompasses:

• Cell production lines and PACK assembly in Ganzhou.
• Energy storage system production lines in Zibo.
• A comprehensive technology stack that includes battery cells, modules, system integration, and battery management system (BMS) development.

Lithium-ion batteries by Claudio Schwarz

Recent Developments and News

On March 25, 2025, Nasdaq’s Listing Qualifications Department issued two non-compliance notices to Elong Power. For the 30 consecutive business days through March 18, 2025, the company’s market value of listed securities (MVLS) remained below the $50 million threshold required under Rule 5450(b)(2)(A). Simultaneously, its closing bid price fell below the $1.00 minimum mandated by Rule 5450(a)(1). Elong Power has until September 15 and September 16, 2025, respectively, to regain compliance by achieving each metric for ten consecutive business days.

On June 19, 2025, Elong Power’s audit committee resolved to change its independent registered public accounting firm, transitioning from UHY LLP to Enrome LLP. There were no disagreements with UHY LLP during the past two fiscal years.

On July 8, 2025, Elong Power announced a strategic cooperation agreement with the Consumer Protection Agency of the Republic of Indonesia, signaling an intent to strengthen regulatory alignment in that market.

In a Form 6-K dated July 14, 2025, the company reported it had not yet filed its Form 20-F for the fiscal year ended December 31, 2024, triggering a Nasdaq Listing Rule 5250(c)(1) notice. Elong Power must submit a compliance plan within 60 days or pursue an appeal to a Nasdaq Hearings Panel.

As of July 28, 2025, ELPW shares traded at $3.22, reflecting a 26.27% increase on that day, with daily volume of 269,880 shares. Over the past year, the stock declined by 72.68% and showed a volatility of 23.74% (beta: -2.12).

Financial and Strategic Analysis

Elong Power’s public filings to date offer limited quantitative financial metrics. The company describes an operating model that references potential growth, but its 6-K filings do not include specific revenue or earnings figures. Key strategic elements include:

• Two business segments: high-power fast-charging batteries for mobility applications and solid-state battery energy storage systems.
• A product portfolio that includes lithium manganese oxide and lithium iron phosphate chemistries.
• Investment in research and development, as well as lifecycle service offerings, from cell manufacturing to system integration.
• Efforts to address listing compliance and financial reporting obligations with Nasdaq.

The going-concern note in past audit reports, combined with the delayed Form 20-F filing and Nasdaq compliance notices, highlights governance and liquidity considerations. Restoration of listing compliance will require either a sustained increase in market value or a sustained recovery in share price.

Market Position and Industry Context

Elong Power operates within the global battery market, characterized by rising demand for electric vehicles and grid-scale energy storage. Its focus on high-power fast-charging applications positions it alongside suppliers serving commercial and specialty vehicles, construction equipment, and large-scale energy installations. The company’s two Chinese plants support production scalability, and the cooperation agreement with Indonesia may extend its geographic reach. Competitive factors in the sector include technology innovation, unit economics of battery cells and modules, supply-chain resilience, and regulatory environment for clean energy solutions.

TL;DR

Elong Power must meet two Nasdaq compliance requirements—maintaining a $50 million market value of listed securities and a $1.00 closing bid price—for ten consecutive business days by September 15–16, 2025, to avoid delisting. A delayed Form 20-F filing for the year ended December 31, 2024, adds a 60-day deadline for a compliance plan. In mid-June 2025, the company replaced its auditor, and in July 2025, entered into a strategic cooperation agreement in Indonesia. As of July 28, 2025, the stock trades at $3.22 amid ongoing volatility.