#Cayman Islands #Share Consolidation #なし #Elong Power #Nasdaq ELPW

Elong Power Holding Limited Announces Change of Effective Date for Share Consolidation

Elong Power Holding Limited, a prominent provider of advanced battery technologies based in the Cayman Islands, recently made an important announcement regarding its share consolidation strategy. The company, which is listed on Nasdaq under the symbol ELPW, has set the effective date for its reverse split of shares at a 1 for 80 ratio, targeting compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii).

Background of the Share Consolidation

The initiative was first approved during an extraordinary general meeting of shareholders held on January 6, 2026. At this meeting, shareholders unanimously agreed to authorize the Board to implement periodic share consolidations not exceeding a cumulative ratio of 40001. The recent board decision to proceed with the 1 for 80 reverse split reflects a strategic move geared towards ensuring the company maintains its listing on Nasdaq.

The share consolidation involves combining eight Class A and Class B ordinary shares, with a par value of $0.00016, into one ordinary share with a higher par value of $0.0128. This means that upon execution, the total number of outstanding shares will significantly decrease from approximately 63 million to about 0.79 million shares, adjusting the total amount of authorized shares in the process.

Implications for Shareholders

For existing shareholders, this reverse stock split will maintain their overall percentage ownership in the company, despite minor adjustments that may arise from the handling of fractional shares. Importantly, no fractional shares will be issued; instead, any resultant fractions will be rounded up to the nearest whole share. Therefore, shareholders do not need to take any action, especially those who hold their shares through brokerage accounts.

Future Trading Information

As trading resumes on March 12, 2026, the shares will begin trading on a reverse split-adjusted basis under the same ticker symbol, 'ELPW', but will feature a new CUSIP number, G3016G129. Investors should be aware that the key objective behind this consolidation is to support the company's compliance with the Nasdaq requirement to maintain a minimum closing bid price of above $0.10.

About Elong Power Holding Limited

Elong Power holds a dedicated position in the industry, focusing on the research, development, manufacturing, and sales of high-power lithium-ion batteries, primarily aimed at electric vehicles and large-scale energy storage systems. Under the leadership of Chairwoman and CEO Xiaodan Liu, Elong Power differentiates itself with a robust product and technology framework, emphasizing long-cycle lithium-ion batteries that cater to diverse and extensive market applications.

The company's portfolio includes battery cells, modules, and system integration, bolstered by a comprehensive battery management system. Their commitment to high-performance battery solutions promotes innovative energy applications across various sectors. With product offerings employing lithium manganese oxide and lithium iron phosphate chemistries, Elong Power strives to meet the increasing demands for sustainable energy solutions.

Forward-Looking Statements

It is crucial for investors to take note that this press release includes forward-looking statements that reflect the company’s plans and anticipated future performance. While these disclosures aim to provide insights into Elong Power’s strategy and outlook, they carry inherent uncertainties and risks. Factors that could influence actual results may differ significantly from those projected, and therefore, stakeholders are encouraged to consult the company's filings with the U.S. Securities and Exchange Commission for deeper insights.

For further inquiries about the share consolidation announcement or more information regarding Elong Power Holding Limited, please contact the company directly through their investor relations channel.

With this forward momentum in share consolidation, Elong Power Holding Limited is poised to solidify its position in the rapidly evolving energy and battery technology markets.