GTI News & Events

Graphjet Technology received a written notice from Nasdaq on August 20 stating that the company is not in compliance with Nasdaq Listing Rule 5250(c) because the company has not yet filed its Quarterly Report on Form 10-Q for the period ended June 30 with the SEC. The Notice has no immediate effect on the listing of the company's ordinary shares on The Nasdaq Global Market, which will continue to trade on The Nasdaq Global Market under the symbol "GTI". Nasdaq has requested that the Company presents its views with respect to the Notice to Nasdaq in writing no later than August 27, since Nasdaq will consider this deficiency in their decision regarding the company's continued listing. The company previously agreed with Nasdaq that it would regain compliance with the Rule before September 15 and is working to complete and file the Form 10-Q by the Deadline and intends to regain compliance with Nasdaq's continued listing requirements.

Graphjet Technology is now able to produce graphite that is up to the standard and the graphite produced can be used as battery anode material. With this, the Company will now move ahead to finalise collaborations, supply agreements and offtake agreements with its customers in the coming weeks. Whilst the upcoming share consolidation might reduce the number of shares trading in the market, the Company has initiated steps to increase the number of shares in the market, with the issuance and registration of additional shares to the market, subject to registration with the SEC. The Company has also engaged a prominent investment bank to plan and assist in the distribution of additional shares to the market as a step to improve the liquidity post-share consolidation.

Graphjet Technology completed the testing and commissioning of its new machinery and equipment. This has increased the Company's production capacity by 7 times and with the enhanced functions of the new machinery and equipment, the Company is now also able to produce types of graphite and graphene for other industries, including the semiconductor industry. With this, the Company is now hopeful for more collaborations and offtake agreements from its customers. In addition, it has also completed commissioning of its laboratory last week. The Company believes that with these new machinery, equipment and laboratory, the Company is geared towards catering for bigger and more sophisticated customers. The laboratory is essential to the production of graphite and graphene as it will test the properties of both, allowing for the customization of such properties to better suit the needs of its customers, better quality control over the graphite and graphene produced and the conduct of future research and development on new usage of graphite and graphene produced.

Graphjet Technology announce the successful arrival of its new machineries and equipment to its factory in Malaysia, as planned. The arrival of its new machineries and equipment coincides with the arrival of a specialist from the supplier to install and commission the new machineries and equipment. The installation is scheduled to be completed within a week and the new machineries and equipment will undergo a comprehensive test run to ensure all equipment operates efficiently and meets required performance standards. Once operational, the new system is expected to play a key role in supporting Graphjet's growth especially with the growing demand of graphite and graphene in the United States and around the world.