Beijing, China, July 14, 2025 – Elong Power Holding Limited (Nasdaq: ELPW), a provider of high-power battery technology for commercial, specialty alternative energy vehicles, and energy storage systems, announced it received notification from Nasdaq’s Listing Qualifications Department. The notice stated the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Form 20-F for the fiscal year ending December 31, 2024. The Rule requires listed companies to file all required periodic financial reports with the SEC in a timely manner.

Elong Power has 60 calendar days from receipt of the notice to submit a plan to Nasdaq to regain compliance. If Nasdaq accepts the plan, the company may be granted an exception of up to 180 calendar days from the Form 20-F’s due date, or until October 17, 2025. If Nasdaq rejects the plan, Elong Power can appeal the decision to a Nasdaq Hearings Panel.

Elong Power is actively working on the Form 20-F and intends to file it within the specified timeframe.

The notification does not currently affect the listing of Elong Power’s Ordinary Shares, which will continue to trade under the symbol “ELPW”. However, failure to regain compliance with the Rule may result in the company’s common stock being delisted from Nasdaq.

About Elong Power

Elong Power Holding Limited, an exempted company in the Cayman Islands, focuses on the research and development, manufacturing, sales, and service of high-power lithium-ion batteries for electric vehicles and construction machinery, along with large-capacity, long-cycle lithium-ion batteries for energy storage systems. Elong Power is headed by Xiaodan Liu, Chairwoman and CEO.

Elong Power has a comprehensive product and technology system that encompasses battery cells, modules, system integration, and battery management system development, based on high-power lithium-ion batteries and battery system products for long-cycle energy storage devices. Elong Power provides advanced energy applications and full life cycle services, and its product portfolio includes products utilizing lithium manganese oxide and lithium iron phosphate, among others, to meet the needs of high-power and energy storage applications in various scenarios.

Forward-looking Statements

This press release may contain “forward-looking statements” as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements concerning the benefits and anticipated timing of the transaction, Elong Power’s products and markets, and projected future results. These statements are generally identified by terms like “believe,” “project,” “expect,” and similar expressions. Forward-looking statements are predictions based on current expectations and assumptions, making them subject to risks and uncertainties. Many factors could cause actual events to differ materially from these statements, including the ability of Elong Power to maintain its Nasdaq listing; the potential volatility of its securities’ price; changes in competitive and regulated industries; variations in competitor performance; changes in laws and regulations; changes in capital structure; the ability to implement business plans and meet expectations; the need for additional funding; reliance on third-party suppliers; risks related to R&D, market conditions; attracting and retaining personnel; growth strategy risks; patent and intellectual property risks; and the ability to obtain and maintain financing and strategic agreements. Consequently, these statements are not guarantees of future performance, and undue reliance should not be placed on them. Risks related to Elong Power’s business are detailed in its SEC filings, including its Form 20-F and subsequent filings, available on the SEC’s website. These statements are made as of the date hereof, and Elong Power disclaims any obligation to update them, except as required by law.

Elong Power Investor Contact

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