Announcement Made Pursuant to NASDAQ Listing Rule 5810(b)
NANJING, China, May 7, 2013
NANJING, China, May 7, 2013 /PRNewswire/ --China Sunergy Co., Ltd. (NASDAQ:
CSUN) ("China Sunergy" or "the Company") advises that it has received a letter
of non-compliance with Nasdaq's minimum stockholders' equity requirement as
set forth in Listing Rule 5450(b) (1) (A). This non-compliance has resulted
from the fact that the Company's reported stockholders' equity as of December
31, 2012 fell below the $10 million threshold as required by the Listing
The Company has 45 days to prepare and submit a plan to Nasdaq to regain
compliance. If the plan is accepted, Nasdaq may grant the Company an extension
of up to 180 days from May 2, 2013 to evidence compliance.
This announcement is being made in compliance with Listing Rule 5810(b), which
requires prompt disclosure of receipt of a noncompliance letter.
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (NASDAQ:CSUN) designs, manufactures and delivers high
efficiency solar cells and modules to the world from its production centers
based in China and Turkey. China Sunergy also invests in high potential solar
projects. Founded in 2004, China Sunergy is well known for its advanced solar
cell technology, reliable product quality, and excellent customer service.
For more information, please visit http://www.chinasunergy.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical facts in this
announcement are forward-looking statements. These forward-looking statements
are based on current expectations, assumptions, estimates and projections
about the Company and the industry, and involve known and unknown risks and
uncertainties, including but not limited to, demand for and selling prices of
the Company's products, execution of our strategy to expand into downstream
solar power businesses, general economic and business conditions; the
Company's ability to attract or retain qualified senior management personnel
and research and development staff; future shortage or availability of the
supply of raw materials. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events or
circumstances, or to changes in its expectations, except as may be required by
law. Although the Company believes that the expectations expressed in these
forward looking statements are reasonable, it cannot assure you that its
expectations will turn out to be correct, and investors are cautioned that
actual results may differ materially from the anticipated results.
SOURCE China Sunergy Co., Ltd.
Contact: China Sunergy Co., Ltd., Elaine Li, +86 25 5276 6696,
Elaine.firstname.lastname@example.org, or Asia Bridge Group Limited, Wendy Sun, + 86 10
8556 9033, email@example.com
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