#China #NASDAQ #Beijing #Share Consolidation #Elong Power

Elong Power Initiates Share Consolidation

Elong Power Holding Limited, a company specializing in high power battery technologies, recently disclosed a significant decision aimed at bolstering its position in the stock market. Effective from March 10, 2026, the company will undergo a share consolidation at a ratio of 1 for 80.

Details of the Share Consolidation

The share consolidation, also termed as a reverse split, involves combining every 80 shares into 1 share of Class A or Class B ordinary shares. This move follows the approval received during the extraordinary general meeting held on January 6, 2026, where shareholders sanctioned the board to execute share consolidations at their discretion, subject to certain limits.

Elong Power's aim for this consolidation is to align with the Nasdaq Listing Rule 5810(c)(3)(A)(iii), which mandates that listed companies maintain a closing bid price exceeding $0.10. By undertaking this reverse split, the company aspires to enhance its stock value and meet listing requirements.

According to the announcement, as trading opens on March 10, Elong Power's Class A ordinary shares will resume trading under the same symbol, "ELPW," but with an updated CUSIP number, G3016G129. Prior to the consolidation, the total issued and outstanding common shares amount to approximately 63 million, which will drastically decrease to about 0.79 million following this adjustment.

Effect on Shareholders

The shareholders should note that this consolidation will uniformly affect them, ensuring that their percentage ownership in the company remains unchanged, barring minor adjustments related to the treatment of fractional shares. Notably, no fractional shares will be issued due to this consolidation; instead, any fractions will be rounded to grant shareholders one full share per their corresponding share class.

This decision reflects Elong Power's focused strategy on its market positioning and its commitment to long-term growth in the energy solutions sector, particularly in electric vehicles and energy storage. As such, it stands as a strategic move to ensure compliance and facilitate expansion in a rapidly evolving industry.

About Elong Power Holding Limited

Founded in the Cayman Islands, Elong Power is committed to advancing technology in battery systems, focusing on high-power lithium-ion batteries. Under the leadership of Chairwoman and CEO, Ms. Xiaodan Liu, the company has developed a diverse product portfolio, which includes battery cells, modules, and energy storage systems, catering to the needs of various industries, including electric vehicles and construction machinery.

Elong Power not only manufactures but also provides life cycle services for their advanced energy solutions, which utilize high-performance battery technologies, such as lithium manganese oxide and lithium iron phosphate. As energy demands rise globally, Elong Power is poised to play a pivotal role in delivering innovative solutions that support sustainable energy initiatives.

Conclusion

The share consolidation executed by Elong Power is a significant step toward maintaining compliance with Nasdaq regulations, enabling the company to enhance its stock's marketability. With a strong focus on innovative battery solutions, Elong Power remains dedicated to shaping the future of the energy sector. Investors and stakeholders should keep an eye on developments as the company continues to navigate this dynamic landscape.