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Beijing, August 12, 2026 — Elong Power Holding Limited (Nasdaq: ELPW), a developer of high-power battery systems for commercial and specialty alternative energy vehicles and grid storage, has confirmed that its previously announced 1-for-45 reverse stock split will take effect at the opening of trading on August 10, 2026. The adjustment, approved by the board on July 31, 2026, is designed to lift the company’s share price above the $0.10 minimum bid requirement set by Nasdaq Listing Rule 5810(c)(3)(A)(iii).
The company originally scheduled the reverse split for an earlier date but revised the timeline through a regulatory filing. The effective date change was communicated to Nasdaq and disclosed via a press release earlier today. The reverse split impacts both Class A and Class B ordinary shares uniformly. After the consolidation, the par value of each share will increase from $0.0128 to $0.576.
Nasdaq’s continued listing standards require issuers to maintain a closing bid price of at least $0.10 per share. Elong Power’s shares have traded below that threshold for an extended period, triggering a compliance notice. By consolidating shares at a 1:45 ratio, the company aims to push its per-share price above the critical floor and avoid potential delisting. The move is part of a broader strategy approved by shareholders at an extraordinary general meeting on January 6, 2026, which authorized the board to implement up to a 4,000:1 cumulative consolidation over two years.
Shareholders holding shares through a brokerage account do not need to take any action. The reverse split will automatically convert every 45 Class A ordinary shares into one Class A share, and the same for Class B shares. No fractional shares will be issued; instead, shareholders who would have received a fraction will get one full share per the company’s policy. The total number of outstanding common shares will shrink from approximately 23 million to roughly 0.51 million, with authorized shares reduced proportionally.
The stock will continue trading under the ticker “ELPW” but with a new CUSIP number (G3016G137). The reverse split does not alter any shareholder’s percentage ownership, except for minimal rounding adjustments.
The reverse split comes as Elong Power navigates a challenging market for small-cap Chinese stocks listed in the U.S. Several companies have resorted to similar consolidations to meet exchange requirements. According to a market analyst who tracks Nasdaq-listed Chinese battery firms, “Reverse splits are often a temporary fix. The real test is whether Elong Power can improve its fundamentals and investor confidence to sustain the higher share price organically.”
Elong Power’s core business focuses on high-power lithium-ion batteries for electric vehicles, construction machinery, and large-capacity, long-cycle storage systems. The company is led by Chairwoman and CEO Xiaodan Liu. Recent product developments include advances in lithium manganese oxide and lithium iron phosphate chemistries, which target both high-power applications and stationary storage.
The company has not detailed any concurrent fundraising or operational changes alongside the reverse split. However, compliance with Nasdaq’s bid price rule is a key step toward maintaining its listing status, which could open the door for future capital market activities. Investors should monitor the stock’s performance after the split and the company’s next quarterly earnings report for signs of sustained improvement.
Forward-Looking Statements: This article contains forward-looking statements based on current expectations. Actual results may differ materially due to risks detailed in the company’s SEC filings. Elong Power undertakes no obligation to update these statements.
For more information, visit the company’s investor relations page at ir@elongpower.com.
