Graphjet Technology (GTIJ)

Graphjet Technology is a Cayman Islands holding company with operations in Malaysia, headquartered in Kuala Lumpur. It was developing a process to produce graphite and graphene-related materials from palm kernel shells, an agricultural by-product, positioning the technology as a lower-cost and more sustainable route to graphite for batteries and other uses.

The company became publicly listed in March 2024 through a business combination with Energem Corp., a special purpose acquisition company. Its Class A ordinary shares then traded on Nasdaq under the symbol GTI. As an early-stage manufacturing company, Graphjet depended on external financing to build out its production capacity.

In June 2025 Nasdaq Staff issued the first of several deficiency notices. Notices on June 4 and June 18, 2025 concerned Rules 5250(c)(1) and 5450(a)(1). The company appealed to a Listing Qualifications Hearings Panel, which heard the matter on July 17, 2025 and on July 25 allowed continued listing subject to milestones.

Additional deficiencies followed, including a second notice under Rule 5250(c)(1) on August 20, 2025 and a notice under Rule 5450(b)(2)(A) on September 2, 2025. The company regained compliance with two of the rules on September 24, 2025 and was placed on a mandatory panel monitor.

On October 29, 2025 Staff issued a further notice under Rule 5450(b)(2)(C). On November 11, 2025 the Panel decided to delist the company, concluding it had not articulated a reasonable plan to regain compliance. Trading in the shares was suspended on November 13, 2025, and the shares moved to over-the-counter quotation as GTIJF.

Graphjet appealed the Panel decision to the Nasdaq Listing and Hearing Review Council on November 25, 2025. The Staff delisting determination became final on December 26, 2025, and the Council later found no basis to conclude that the Panel had erred.

Nasdaq issued its formal delisting determination on July 10, 2026 and filed a Form 25 with the SEC. The removal from listing and registration took effect at the opening of trading on July 23, 2026. The delisting was not connected to an acquisition or bankruptcy.