Emeren Group Announces Receipt of Notice of Late Filing from NYSE

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Apr 19, 2024, 06:00 ET

STAMFORD, Conn., April 19, 2024 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced that on April 17, 2024, it received a notice from the New York Stock Exchange (NYSE) indicating non-compliance with the NYSE's continued listing requirements due to the delayed filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. This notification, while highlighting the need for timely filings under Section 802.01E of the NYSE Listed Company Manual, does not immediately affect the listing of Emeren's common stock.

The NYSE has provided Emeren a six-month period, until October 16, 2024, to file the Form 10-K and regain compliance. There is a possibility for an extension of up to six additional months, depending on the Company's progress and specific circumstances. The NYSE may also initiate delisting procedures if deemed necessary.

Emeren previously reported in its Notification of Late Filing on Form 12b-25, filed on March 29, 2024, that additional resources and efforts were essential to complete its financial reporting and close procedures for the fiscal year 2023. This necessity arose primarily because the Company was notified by its independent registered public accounting firm of their decision to resign, which was disclosed in a Form 8-K filed on April 2, 2024. As a result of transitioning to a new independent registered public accounting firm, the Company was unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, by the end of the extension period on April 16, 2024. The Company continues to prioritize the completion of the new auditor placement as swiftly as possible and currently anticipates filing the Form 10-K within the allotted six-month period.

About Emeren Group Ltd.

Emeren Group Ltd (NYSE: SOL), a renewable energy leader, showcases a comprehensive portfolio of solar projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle — from development through construction to financing — we excel by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of efficiency and impact. Our commitment to enhancing solar power and energy storage underlines our dedication to innovation, excellence, and environmental responsibility. For more information, go to www.emeren.com.

SOURCE Emeren