Blue Hat Interactive Entertainment Technology (BHAT)

Blue Hat Interactive Entertainment Technology is a Cayman Islands holding company whose operating business, Fujian Blue Hat Interactive Entertainment Technology Ltd., was based in Xiamen, China. The operating company was founded in 2010 and focused on animated toys combined with mobile gaming features, along with intellectual property and derivative products.

Its products blended physical toys with augmented reality and mobile apps. Titles and products included AR Racer, a car-racing game; AR Crazy Bug, a combat game using a ladybug-shaped electronic toy; AR 3D Magic Box, which animated children's drawings; and AR Dinosaur, an educational toy. It also sold products tied to licensed characters, including Talking Tom and Friends.

The company also managed licensing arrangements for products featuring the WUHUANGWANSHUI brand images. It distributed through domestic distributors, e-commerce platforms, supermarkets, and export distributors, serving customers in China and in international markets.

Blue Hat's ordinary shares were listed on the Nasdaq Capital Market under the symbol BHAT. The stock later experienced sharp price declines and compliance problems. Nasdaq placed the company under a panel monitor following an earlier bid-price deficiency; the company regained compliance with the minimum bid price requirement on April 2, 2025, which started a one-year monitoring period.

During that monitoring period the share price fell again. Between February 23 and March 6, 2026 the closing bid price was at or below $0.10 for ten consecutive trading days. Under Nasdaq's low-priced stocks rule, this triggered a Staff delisting determination, which Blue Hat received on March 9, 2026 and announced on March 13.

Because the company was subject to the panel monitor, it was not given a new compliance period. Trading in its shares was suspended at the open of business on March 16, 2026. Blue Hat requested a hearing before a Nasdaq hearings panel, but the company noted that a timely appeal would not stay the suspension.

Nasdaq subsequently completed the removal of the shares from listing, and a Form 25 was filed with the SEC. The delisting was not connected to an acquisition or bankruptcy. The ordinary shares moved to over-the-counter quotation under the symbol BHATF.