Graphjet Technology Discloses Stay of Suspension and Nasdaq Hearing Date

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KUALA LUMPUR, Malaysia, June 16, 2025 (GLOBE NEWSWIRE) -- Graphjet Technology (“Graphjet” or “the Company”) (Nasdaq:GTI), a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, today announced that the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) on June 12, 2025 that notified the Company that Nasdaq’s previously disclosed determination to suspend the trading of the Company’s Class A Ordinary Shares (the “Common Stock”) has been stayed, pending a final written decision by the Nasdaq Hearing Panel (the “Panel”). The hearing (the “Hearing”) before the Panel will be held on July 17, 2025, meaning that the Company’s ordinary shares will continue to trade on Nasdaq at least until the date of the Hearing.

The Company previously disclosed that it received a determination letter (“Notice”) on June 4, 2025 from Nasdaq indicating that the Company was not in compliance with the requirements for continued listing under Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) as a result of (i) the Company’s delay in filing its Annual Report on Form 10-K for the period ended September 30, 2024 with the Securities and Exchange Commission (the “SEC”) and (ii) the Company’s delay in filing its Quarterly Report on Form 10-Q for the period ended December 31, 2024. The Notice also stated that the Company is not in compliance with the Listing Rule due to the Company’s delay in filing its Quarterly Report on Form 10-Q for the period ended March 31, 2025.
  
This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

About Graphjet Technology

Graphjet Technology (Nasdaq: GTI) was founded in 2019 in Malaysia as an innovative graphene and graphite producer. Graphjet Technology has the world’s first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. Graphjet’s sustainable production methods utilizing palm kernel shells, a waste agricultural product that is common in Malaysia, will set a new shift in graphite and graphene supply chain of the world. For more information, please visit https://www.graphjettech.com/.