BYU News & Events

In December 2024, Baiyu Holdings signed an agreement with Adler International, an Egyptian company, to construct a renewable energy free-trade zone and logistics park in Egypt. The agreement outlines plans to establish a renewable energy industry free-trade zone in Cairo, Egypt, covering an area of approximately 10,000 mu, and to build a bonded warehouse and logistics park covering about 3,000 mu in the Port of Alexandria or other nearby dock areas in Egypt. The Egyptian government has granted autonomous preferential policies to the park, designating both the new energy industrial park and the logistics park as bonded free-trade zones. Additionally, the Egyptian government offers incentives for the introduction of high-level talent and the training of local talent. Beyond the establishment of the new energy free-trade zone and logistics park, Baiyu Holdings will also provide full supply chain procurement services for new energy vehicle manufacturing. The vehicles produced can be exported to Egypt and surrounding countries and regions, such as Africa, Europe, the Middle East, and the Mediterranean, with an annual market demand of nearly 200,000 vehicles. This initiative will also lead the landing of charging pile and lithium battery industries in Egypt, with production, manufacturing, and market sales conducted in Egypt under the company's own brand.

Baiyu Holdings has dispatched a professional operating team to launch a business in the dismantling of used cars and the sales of auto parts in the United States. The market size of the automotive dismantling and parts remanufacturing industry in the United States reaches hundreds of billions of USD, presenting tremendous development potential. In the automotive aftermarket, 80% of the parts are remanufactured components, occupying a significant position in the market.

BAIYU Holdings has filed timely a formal notice of appeal to a Hearings Panel of a Nasdaq Stock Market Listing Qualifications Staff's determination to delist the company's securities from Nasdaq. BAIYU intends to maintain that the Staff did not consider all relevant facts in making its delisting decision. The Nasdaq Staff based its delisting decision on concerns relating to the substance and timing of the company's recent disclosures regarding a contract for the sale of electric lithium batteries to be purchased from a U.S.-based auto supplier and a letter of intent to build and operate electric vehicle charging stations in Cairo, Egypt. The Nasdaq Staff's articulated concerns relate to the adequacy of the company's due diligence in the transactions and what it considered unusual trading activity in the company's common stock following the announcements. The company has not conducted any marketing or promotional campaigns regarding the company's stock during calendar 2023 and 2024, and no company officer or director traded BAIYU stock in August, September or October 2024. 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 U.S. market. 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. Meanwhile, the company continues to be current with its SEC filings and expects to maintain the registration of its securities.