China Shengda Packaging Group Inc. Regains NASDAQ Compliance
26th December, 2011
HANGZHOU, China, Dec. 19, 2011 -- China Shengda Packaging Group Inc. (NASDAQ: CPGI) ("China Shengda Packaging" or the "Company"), a leading Chinese paper packaging manufacturer, today announced that the Company received a notice (the "Notice") from The NASDAQ Stock Market on December 15, 2011 indicating that the Company's common stock has regained compliance with NASDAQ's $1.00 minimum closing bid price requirement. The Notice indicated that NASDAQ determined that the closing bid price of the Company's common stock had been at $1.00 per share or greater for ten consecutive business days. As previously announced, the Company received a letter from NASDAQ indicating that for 30 consecutive business days the bid price of the Company's common stock had closed below the minimum $1.00 per share requirement for continued listing on The NASDAQ Global Market. The Notice indicated that this matter is now closed.
About China Shengda Packaging Group Inc.
China Shengda Packaging Group Inc. is a leading paper packaging company in China. It is principally engaged in the design, manufacturing and sale of flexo-printed and color-printed corrugated paper cartons in a variety of sizes and strengths. It also manufactures corrugated paperboards, which are used for the production of its flexo-printed and color-printed cartons. The company provides paper packaging solutions to a wide variety of industries, including food, beverage, cigarette, household appliance, consumer electronics, pharmaceuticals, chemicals, machinery and other consumer and industrial sectors in China.