NANPING, China, Aug. 14, 2024 — Golden Heaven Group Holdings Ltd. (“Golden Heaven” or the “Company”) (Nasdaq: GDHG), a Chinese amusement park operator, today disclosed that it received a staff determination letter (the “Letter”), on August 9, 2024, from Nasdaq’s Listing Qualifications Department notifying the Company that, due to its failure to meet the minimum bid price of $1.00 per share for continued listing on Nasdaq, the Company’s securities would be delisted from Nasdaq unless it appealed to a Hearings Panel (the “Panel”).

On February 8, 2024, Nasdaq notified the Company (the “Notice”) that its Class A ordinary shares did not meet the minimum bid requirement based on the closing bid price for the preceding 30 business days. The Notice provided the Company a 180-day period, ending August 6, 2024, to regain compliance.

According to the Letter, the Company had not met the minimum bid requirement by August 6, 2024, and was not eligible for an extension. Nasdaq believes the Company will not be able to rectify the issue and maintain compliance. As of August 8, 2024, the closing bid price of the Company’s Class A ordinary shares was $0.12. If the Company does not appeal the Determination by August 16, 2024, its Class A ordinary shares will be suspended on August 20, 2024, and the Company’s securities will be removed from Nasdaq’s listing.

The Company intends to appeal the Determination to the Panel. Filing an appeal will halt the suspension of the Company’s securities and the removal of its shares from Nasdaq pending the Panel’s decision. The Company is exploring all available options, including a reverse stock split, and will provide its shareholders with material updates as they become available.

About Golden Heaven Group Holdings Ltd.

The Company is an offshore holding company incorporated in the Cayman Islands with no material operations of its own. Through its Chinese operating entities, the Company manages and operates amusement parks, water parks and complementary recreational facilities. The parks offer a broad selection of exhilarating and recreational experiences, including both thrilling and family-friendly rides, water attractions, gourmet festivals, circus performances, and high-tech facilities. For more information, please visit the Company’s website at .

Forward-Looking Statements

This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or 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 such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:
Golden Heaven Group Holdings Ltd.
Email: 

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Tina Xiao
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