BEIJING, March 9, 2026, 23:44 GMT+8
- Elong Power said its 1-for-80 share consolidation will take effect March 12.
- The move targets a Nasdaq rule tied to ultra-low share prices.
- The stock is trading at just a few cents a share.
Elong Power Holding Limited said its planned 1-for-80 share consolidation, a reverse stock split, will take effect at the open of trading on March 12. 1
The company has framed the move as a way to meet Nasdaq’s minimum bid-price requirement. Elong Power shares last traded at $0.0535 on Monday, up about 19%, after swinging between $0.045 and $0.0882.
A reverse split bundles existing shares into fewer, higher-priced shares, without changing a company’s overall market value on paper. Companies often use it when a collapsing share price risks a delisting notice and shuts off access to some investors. 2
Under the plan, every 80 Class A and Class B shares will convert into one share, cutting total outstanding shares to about 0.79 million from roughly 63 million, the company said. It said it would not issue fractional shares, and that holders in brokerage accounts do not need to take action. 3
Elong Power also said the shares will keep trading under the “ELPW” symbol, but with a new CUSIP number, a security identifier used in clearing and settlement.
The company develops high-power lithium-ion batteries for electric vehicles and construction machinery, along with longer-cycle batteries for energy storage systems, it said. It is led by chairwoman and CEO Xiaodan Liu.
Elong Power’s move lands in a crowded corner of the market, where smaller battery and energy-storage names also fight to keep investor attention, including Microvast and Dragonfly Energy, both listed on Nasdaq. 4
But reverse splits can cut both ways. They can steady a listing, yet they often signal strain, and the higher post-split price can slide back down if the underlying business does not improve.
For Elong Power, the immediate test will be whether the post-split shares can hold above Nasdaq’s minimum, and whether trading stays orderly as the new share count and pricing take effect.
