Business Context and Reporting Period
This Form 6-K filing by Origin Agritech Limited covers the month of February 2019. The report addresses a regulatory compliance issue regarding the company's listing status on the NASDAQ Stock Market.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a notification of a listing deficiency rather than a financial results report.
Material Changes
The primary material change is the company's delinquency in filing its Annual Report on Form 20-F for the fiscal year ended September 30, 2018. Consequently, the company is not in compliance with NASDAQ Listing Rule 5250(c)(1).
Guidance, Outlook, and Risks
- Compliance Status: The company received a notification from NASDAQ on February 19, 2019, regarding the delinquency.
- Remediation Plan: The company has 60 calendar days to submit a plan to regain compliance. If accepted, an exception may be granted until August 14, 2019.
- Appeal Rights: If the plan is not accepted, the company retains the right to appeal to a hearings panel.
- Management Action: Management is pursuing options to address the deficiency and intends to file the Form 20-F or submit a compliance plan by the deadline.
Investor Verification Checklist
- Verify the current status of the Form 20-F for the fiscal year ended September 30, 2018.
- Confirm whether a compliance plan has been submitted to NASDAQ and if it has been accepted.
- Monitor for any further communications regarding potential delisting or appeal outcomes.
- Check for subsequent filings that may contain the missing financial data for the 2018 fiscal year.