#NASDAQ #Hong Kong #SU Group Holdings #Publicly Held Shares

SU Group Holdings Faces Nasdaq Delisting Challenge

SU Group Holdings Limited (Nasdaq: SUGP), a major player in integrated security-related engineering services based in Hong Kong, is currently navigating a precarious situation with the Nasdaq Stock Market. On September 17, 2025, the company received a determination letter outlining its impending delisting due to failing to meet the minimum publicly held share requirement. This news was met with immediate actions from the company as it swiftly initiated an appeal against this ruling.

The Nasdaq notified SU Group that unless an appeal is made, its shares would be suspended from trading on September 26, resulting in the filing of a Form 25-NSE with the Securities and Exchange Commission, effectively removing the stock from the Nasdaq listings. The urgency of SU Group's response is reflected in its prompt appeal to a panel, which allows its shares to continue trading until the appeal is heard or the deficiencies are remedied.

This situation is not entirely new for SU Group. Earlier in the year, on March 20, 2025, the company received a notification indicating its non-compliance with Nasdaq's minimum bid price requirement. Subsequently, on July 31, a reverse stock split was executed in an effort to address this issue. However, post-split, the company was again notified that it had failed to maintain the requisite minimum of 500,000 publicly held shares. This led to the development of a compliance plan submitted on September 15, aimed at demonstrating actions to rectify this latest deficiency.

In light of these challenges, SU Group is exploring multiple avenues to increase its shares in circulation, considering a secondary offering which entails filing a registration statement on Form F-1. This step is critical as it could enhance the volume of publicly held shares, thereby aligning the company more closely with Nasdaq's requirements and potentially averting delisting.

Should the appeal not yield favorable results, and if the panel denies the extension for compliance, SU Group would face severe repercussions. These could include limited market visibility for its shares, decreased analyst coverage, restricted access to financing options, and ultimately, a drop in shareholder confidence.

Reflecting on the overall landscape of securities compliance, it is crucial for companies like SU Group to maintain close watch over their listing standards and take proactive measures in response to any deficiencies. The Nasdaq's stringent compliance rules are in place to protect investors and maintain market integrity, emphasizing the importance of robust share structures and market participation.

About SU Group Holdings Limited

SU Group Holdings is an integrated services firm specializing in security-related engineering, security guarding, and vocational training services in Hong Kong. The company has offered comprehensive security solutions for over two decades, focusing on infrastructure developments and security system management for commercial and residential properties. For more information, visit www.sugroup.com.hk.

Conclusion

As SU Group Holdings navigates through this critical period, investors and stakeholders alike will be watching closely to see how the company's appeal unfolds. Whether SU Group can rectify its public share deficiency will significantly impact its future operations and overall market standing.