PINGDINGSHAN, China, Feb. 23,
2017 /PRNewswire/ -- Hongli Clean Energy Technologies
Corp. (NASDAQ: CETC) ("Hongli" or the "Company"), a vertically
integrated producer of clean energy products located in Henan
Province, China, today announced that it has received a letter
from The NASDAQ Stock Market ("NASDAQ") notifying the Company that
it is not in compliance with NASDAQ Listing Rule 5250(c)(1) because
it has not filed its Quarterly Report on Form 10-Q for the period
ended December 31, 2016 in a timely manner with the
Securities and Exchange Commission (the "SEC"). NASDAQ
Listing Rule 5250(c)(1) requires listed companies to timely file
all required periodic financial reports with the SEC. This
delinquency serves as an additional basis for delisting the
Company's securities from the Nasdaq Stock Market.
As previously reported, the Company informed the Nasdaq Listing
Qualification Panel (the "Panel") that its auditor had notified the
Company on January 26, 2017 that it
would need additional time to complete the audit for the fiscal
year ended June 30, 2016. The Panel
has granted the Company's request for extension of the exception
period to complete its audit and filing of its delinquent reports
and any necessary restatements with the Securities and Exchange
Commission prior to March 31,
2017.
About Hongli Clean Energy Technologies Corp.
Previously known as SinoCoking Coal and Coke Chemical
Industries, Inc., Hongli Clean Energy Technologies Corp. ("Hongli"
or the "Company") is a Florida corporation and an
emerging producer of clean energy products located in Pingdingshan
City, Henan Province, China. The Company has historically
been a vertically-integrated coal and coke processor of basic and
value-added coal products for steel manufacturers, power
generators, and various industrial users. The Company has been
producing metallurgical coke since 2002, and acts as a key supplier
to regional steel producers in central China. The Company also
produces and supplies thermal coal to its customers in
central China. The Company currently owns its assets and
conducts its operations through its subsidiaries, Top Favour
Limited and PingdingshanHongyuan Energy Science and Technology
Development Co., Ltd., and its affiliated companies, Henan Province
PingdingshanHongli Coal & Coke Co., Ltd., Baofeng Coking
Factory, BaofengHongchang Coal Co., Ltd., BaofengHongguang
Environment Protection Electricity Generating Co., Ltd., Zhonghong
Energy Investment Company, Henan Hongyuan Coal Seam Gas Engineering
Technology Co., Ltd., BaofengShuangri Coal Mining Co., Ltd., and
BaofengXingsheng Coal Mining Co., Ltd.
For additional information on the Company, please go
to http://www.cetcchina.net/ or refer to the company's
periodic reports filed with the Securities and Exchange Commission
(http://www.cetcchina.net/sec-filings.html). Investors wishing to
receive the Company's corporate communications as they become
available may go to the company's Investor Relations site
(http://www.cetcchina.net/corporate-overview.html) and register
under Email Alerts.
Also, investors may submit questions directly to Mr. Lv and his
staff to receive non-confidential information about the company's
operations and products at the company's "Ask Management" blog
(http://www.cetcchina.net/ask-management.html).
Forward-Looking Statements
This press release contains forward-looking statements,
particularly as related to, among other things, the business plans
of the Company, statements relating to goals, plans and projections
regarding the Company's financial position and business strategy.
The words or phrases "plans," "would be," "will allow," "intends
to," "may result," "are expected to," "will continue,"
"anticipates," "expects," "estimate," "project," "indicate,"
"could," "potentially," "should," "believe," "think," "considers"
or similar expressions are intended to identify "forward-looking
statements." These forward-looking statements fall within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Act of 1934 and are subject to the safe
harbor created by these sections. Actual results could differ
materially from those projected in the forward-looking statements
as a result of a number of risks and uncertainties. Such
forward-looking statements are based on current expectations,
involve known and unknown risks, a reliance on third parties for
information, transactions or orders that may be cancelled, and
other factors that may cause our actual results, performance or
achievements, or developments in our industry, to differ materially
from the anticipated results, performance or achievements expressed
or implied by such forward-looking statements. Factors that could
cause actual results to differ materially from anticipated results
include risks and uncertainties related to the fluctuation of
local, regional, and global economic conditions, the performance of
management and our employees, our ability to obtain financing,
competition, general economic conditions and other factors that are
detailed in our periodic reports and on documents we file from time
to time with the Securities and Exchange Commission. Statements
made herein are as of the date of this press release and should not
be relied upon as of any subsequent date, and the Company
specifically disclaims any obligation, to update any
forward-looking statements to reflect occurrences, developments,
unanticipated events or circumstances after the date of such
statement.
Company Contact:
Jianhua Lv, CEO
Phone: + 86-375-2882-999
Email: lvjianhua@sinocoking.net
Website: http://www.cetcchina.net/
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SOURCE Hongli Clean Energy Technologies Corp.