TechFaith

Techfaith Receives Nasdaq Delisting Notification

Retrieved on: 
Thursday, September 12, 2019
Financial markets, Stock market, TechFaith, Finance, NASDAQ, Listing, Investment

After due deliberation, the Company does not intend to appeal the Delisting Determination by requesting a hearing before a hearings panel.

Key Points: 
  • After due deliberation, the Company does not intend to appeal the Delisting Determination by requesting a hearing before a hearings panel.
  • Many over-the-counter stocks trade less frequently and in smaller volumes than securities traded on the Nasdaq, which would likely have a material adverse effect on the liquidity and value of the Company's ADSs.
  • This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a Staff delisting determination.
  • TechFaith (NASDAQ: CNTF) is a developer, owner and operator of commercial real estate properties across China as well as a China-based mobile solutions provider for the global mobile handsets market.

Techfaith Receives Notification from Nasdaq for Failure to Disclose Material Information

Retrieved on: 
Friday, August 2, 2019
Financial markets, Finance, Economy of New York City, NASDAQ, Money, TechFaith, American depositary receipt

BEIJING, Aug. 2, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company"), today announced that it received a notification letter from Nasdaq Listing Qualifications ("Nasdaq") stating that the Company was not in compliance with Nasdaq Listing Rule 5250(b)(1) due to its failure to disclose certain material information.The Company made an announcement regarding the material information identified in the Nasdaq notification letter earlier today.

Key Points: 
  • BEIJING, Aug. 2, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company"), today announced that it received a notification letter from Nasdaq Listing Qualifications ("Nasdaq") stating that the Company was not in compliance with Nasdaq Listing Rule 5250(b)(1) due to its failure to disclose certain material information.The Company made an announcement regarding the material information identified in the Nasdaq notification letter earlier today.
  • The Nasdaq notification letter provides the Company seven calendar days from the date of the notification, or until August 5, 2019, to submit a plan to Nasdaq to regain compliance with the Nasdaq's continued listing requirements.
  • If Nasdaq does not accept the Company's compliance plan, the Company will have the opportunity to appeal that decision to a Hearing Panel under Listing Rule 5815(a).
  • The Nasdaq notification letter has no immediate effect on the listing of the Company's American depositary shares on the Nasdaq Stock Market.

Techfaith Invested in a Real Estate Development Project in Nanjing China

Retrieved on: 
Friday, August 2, 2019
Cities in China, TechFaith, Branches of biology, i-mate, Nanjing, Ciliary neurotrophic factor

BEIJING, Aug. 2, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company"), today announced that through a series of negotiation and agreements since December 2018, it made an investment into a real estate development project in Nanjing, China.

Key Points: 
  • BEIJING, Aug. 2, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company"), today announced that through a series of negotiation and agreements since December 2018, it made an investment into a real estate development project in Nanjing, China.
  • The project company acquired land use right of approximately 90,000 square meters, with plans to acquire additional lands to build real estate properties of more than 500,000 square meters in Nanjing, China.
  • The loan received from Techfaith is solely for the purpose of project construction and development.
  • TechFaith (NASDAQ: CNTF) is a developer, owner and operator of commercial real estate properties across China as well as a China-based mobile solutions provider for the global mobile handsets market.

Techfaith Receives Non-Compliance Notice From Nasdaq Regarding Minimum Market Value of Publicly Held Shares

Retrieved on: 
Friday, July 5, 2019
Financial markets, TechFaith, Finance, Stock market, NASDAQ, Listing, Money, Finance in China

BEIJING, July 5, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company"), today reported that it received a notice from the Listing Qualifications Department of Nasdaq advising the Company that it is not in compliance with Rule 5450(b)(1)(C) requiring maintenance of a minimum market value of publicly held shares (MVPHS) of $5,000,000.

Key Points: 
  • BEIJING, July 5, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company"), today reported that it received a notice from the Listing Qualifications Department of Nasdaq advising the Company that it is not in compliance with Rule 5450(b)(1)(C) requiring maintenance of a minimum market value of publicly held shares (MVPHS) of $5,000,000.
  • The Company's ADSs will continue to be listed and trade on the Nasdaq Global Market during this period, unaffected by the receipt of the written notification from Nasdaq.
  • Alternatively, the Company may apply to transfer the Company's securities to The Nasdaq Capital Market, subject to meeting the Nasdaq Capital Market's continued listing requirements.
  • TechFaith (NASDAQ: CNTF) is a developer, owner and operator of commercial real estate properties across China as well as a China-based mobile solutions provider for the global mobile handsets market.

TechFaith Receives Nasdaq Notification Regarding Minimum Bid Requirements

Retrieved on: 
Friday, June 14, 2019
Financial markets, Economy of New York City, NASDAQ, Finance, TechFaith, Listing, Investment

BEIJING, June 14, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that it has received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), dated June 12, 2019, notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1) (the "Rule").

Key Points: 
  • BEIJING, June 14, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that it has received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), dated June 12, 2019, notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1) (the "Rule").
  • The Company will regain compliance if, at any time during this 180-day period, the closing bid price of the Company's security is at least $1 for a minimum of ten consecutive business days.
  • The Company's ADSs will continue to be listed and trade on the Nasdaq Global Market during this period, unaffected by the receipt of the written notification from Nasdaq.
  • This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

TechFaith Receives Notification of Deficiency From Nasdaq Related to Delayed Filing of Annual Report on Form 20-F

Retrieved on: 
Tuesday, May 7, 2019
Financial markets, Finance, Money, Economy of New York City, NASDAQ, TechFaith, American depositary receipt

This notice has no immediate effect on the listing or trading of TechFaith's American depositary shares on the Nasdaq Global Select Market.

Key Points: 
  • This notice has no immediate effect on the listing or trading of TechFaith's American depositary shares on the Nasdaq Global Select Market.
  • If the plan is accepted by NASDAQ, the Company can be granted up to 180 calendar days from the Form 20-F's due date, to regain compliance.
  • TechFaith expects to submit a plan to regain compliance or file its Form 20-F within the timeline prescribed by NASDAQ.
  • Among other things, the business outlook and strategic and operational plans of TechFaith and management quotations contain forward-looking statements.

CNTF LAWSUIT NOTICE: Rosen Law Firm Reminds China Techfaith Wireless Communication Technology Limited Investors of Important March 11th Deadline in First-Filed Case - CNTF

Retrieved on: 
Saturday, February 9, 2019
TechFaith, Securities Class Action, Securities regulation in the United States, Class action, Security

The lawsuit seeks to recover damages for China Techfaith investors under the federal securities laws.

Key Points: 
  • The lawsuit seeks to recover damages for China Techfaith investors under the federal securities laws.
  • To join the China Techfaith class action, go to https://www.rosenlegal.com/cases-1483.html or call Phillip Kim, Esq.
  • toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
  • Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

CNTF INVESTOR ALERT: Rosen Law Firm Files Securities Class Action Lawsuit Against China Techfaith Wireless Communication Technology Limited - CNTF

Retrieved on: 
Monday, January 21, 2019
TechFaith, Stock market, Security, Securities Class Action

NEW YORK, Jan. 21, 2019 /PRNewswire/ --Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of China Techfaith Wireless Communication Technology Limited (NASDAQ: CNTF) from July 12, 2018 through December 19, 2018, inclusive (the "Class Period").

Key Points: 
  • NEW YORK, Jan. 21, 2019 /PRNewswire/ --Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of China Techfaith Wireless Communication Technology Limited (NASDAQ: CNTF) from July 12, 2018 through December 19, 2018, inclusive (the "Class Period").
  • To join the China Techfaith class action, go to https://www.rosenlegal.com/cases-1483.html or call Phillip Kim, Esq.
  • Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
  • 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017.

Robbins Arroyo LLP: China TechFaith Wireless Communication Technology Limited (CNTF) Sued for Misleading Investors

Retrieved on: 
Thursday, January 17, 2019
Professional services, Legal, TechFaith

Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of China TechFaith Wireless Communication Technology Limited (NasdaqGS: CNTF) filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between July 12, 2018 and December 19, 2018.

Key Points: 
  • Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of China TechFaith Wireless Communication Technology Limited (NasdaqGS: CNTF) filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between July 12, 2018 and December 19, 2018.
  • China TechFaith designs and develops specialized mobile handsets for consumers and enterprises in the People's Republic of China and internationally.
  • View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/china-techfaith-wireless-communication-tec...
    According to the complaint, on July 12, 2018, China TechFaith revealed to investors that its subsidiary, TechFaith Wireless Technology Group Limited, would sell its 100% ownership in its wholly-owned subsidiary, Charm Faith Limited, for RMB710 million.
  • On this news, China TechFaith's stock plummeted over 35% to close at $1.07 per share on December 20, 2018.

CNTF NOTICE: Rosen Law Firm Reminds China Techfaith Wireless Communication Technology Limited Investors of Important Deadline in First Filed Case Seeking Recovery of Investor Losses – CNTF

Retrieved on: 
Tuesday, January 15, 2019
Professional services, Legal, Class action lawsuits, TechFaith, Securities regulation in the United States, Securities Class Action, Short, Economy, Finance, Money

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of China Techfaith Wireless Communication Technology Limited (NASDAQ:CNTF) from July 12, 2018 through December 19, 2018, inclusive (the Class Period) of the important March 11, 2019 lead plaintiff deadline in the first filed class action commenced by the firm.

Key Points: 
  • Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of China Techfaith Wireless Communication Technology Limited (NASDAQ:CNTF) from July 12, 2018 through December 19, 2018, inclusive (the Class Period) of the important March 11, 2019 lead plaintiff deadline in the first filed class action commenced by the firm.
  • The lawsuit seeks to recover damages for China Techfaith investors under the federal securities laws.
  • To join the China Techfaith class action, go to https://www.rosenlegal.com/cases-1483.html or call Phillip Kim, Esq.
  • Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.