Pingtan Marine Enterprise Announces Receipt of Nasdaq Notification Letter

FUZHOU, China, Dec. 27, 2022 /PRNewswire/ -- Pingtan Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan" or the "Company"), a fishing company based in the People's Republic of China, today announced that it has received a notification letter dated December 21, 2022 (the "Notification Letter") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), indicating that based on the actions from U.S. Department of Treasury's Office of Foreign Assets Control ("OFAC"), the Nasdaq Staff ("the Staff") has determined that the continued listing of the Company's securities are no longer warranted pursuant to Listing Rule 5101. Absent a request for appeal, the Company's common stock will be suspended at the opening of business on December 30, 2022, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.

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