JINJIANG, China, Jan. 13, 2020 /PRNewswire/ -- China Ceramics Co.,
Ltd. (NASDAQ Capital Market: CCCL) ("China Ceramics" or the
"Company"), a leading Chinese manufacturer of ceramic tiles used
for exterior siding and for interior flooring and design in
residential and commercial buildings, today announced that it has
received a notification letter from the NASDAQ Listing
Qualification Staff (the "Staff") stating that the Staff has
determined to grant the Company an additional 180 days, or until
July 6, 2020 (the "Compliance Date")
to regain compliance with the minimum bid price rule by maintaining
a minimum closing bid price of at least $1.00 for ten consecutive days. If the Company
cannot demonstrate compliance by the Compliance Date or the Company
does not comply with the terms of the extension granted by NASDAQ,
the Company's common shares may then be subject to delisting.
About China Ceramics Co., Ltd.
China Ceramics Co.,
Ltd. is a leading manufacturer of ceramic tiles in China. The Company's ceramic tiles are used
for exterior siding, interior flooring, and design in residential
and commercial buildings. China Ceramics' products, sold under the
"Hengda" or "HD", "Hengdeli" or "HDL", the "TOERTO" and "WULIQIAO"
brands, and the "Pottery Capital of Tang Dynasty" brands, are
available in over 2,000 style, color and size combinations and are
distributed through a network of exclusive distributors as well as
directly to large property developers. For more information, please
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to our
beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates, intentions, and future performance, and
involve known and unknown risks, uncertainties and other factors,
which may be beyond our control, and which may cause the actual
results, performance, capital, ownership or achievements of the
Company to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements. Forward-looking statements in this press release
include, without limitation, the continued stable macroeconomic
environment in the PRC, the PRC real estate and construction
sectors continuing to exhibit sound long-term fundamentals, our
ability to bring additional capacity online going forward as our
business improves, our customers continuing to adjust to our
product price increases, our ability to sustain our average selling
price increases and to continue to build volume in the quarters
ahead, and whether our enhanced marketing efforts will help to
produce wider customer acceptance of the new price points. All
statements other than statements of historical fact are statements
that could be forward-looking statements. You can identify these
forward-looking statements through our use of words such as "may,"
"will," "anticipate," "assume," "should," "indicate," "would,"
"believe," "contemplate," "expect," "estimate," "continue," "plan,"
"point to," "project," "could," "intend," "target" and other
similar words and expressions of the future.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 20-F for the
year ended December 31, 2018 and
otherwise in our SEC reports and filings. Such reports are
available upon request from the Company, or from the Securities and
Exchange Commission, including through the SEC's Internet website
at http://www.sec.gov. We have no obligation and do not undertake
to update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
SOURCE China Ceramics Co., Ltd.