Galaxy Payroll Group Limited (Nasdaq: GLXG) announced on September 24, 2025, that it has regained compliance with Nasdaq's minimum bid price requirement for continued listing. The company had received a deficiency notice on March 17, 2025, after its ordinary shares failed to maintain a minimum bid price of $1.00 over 30 consecutive business days, as required by Nasdaq Listing Rule 5550(a)(2).
To address the issue, Galaxy Payroll Group took active measures, and from September 8 through September 19, 2025, the closing bid price of its ordinary shares remained at or above $1.00 for 10 consecutive business days. Nasdaq has formally notified the company that it has regained compliance, and the matter is now closed.
Wai Hong Lao, Chief Executive Officer, expressed satisfaction with the outcome, stating, "We are pleased to have successfully regained compliance with Nasdaq's minimum bid price requirement well ahead of the stipulated deadline. This positive momentum reflects growing confidence in our business strategy and operational execution. Our focus remains on driving long-term growth and creating sustainable value for our shareholders."
Galaxy Payroll Group is a leading payroll outsourcing service provider based in Hong Kong, specializing in HR and payroll solutions for multinational companies. The company operates across Hong Kong, Taiwan, Macau, and the PRC, offering payroll outsourcing, employment services, and consultancy. For more information, visit www.galaxyapac.com.
The successful resolution of the bid price deficiency removes the immediate risk of delisting, which could have impacted the company's access to capital markets and investor perception. By regaining compliance, Galaxy Payroll Group can continue to focus on its growth strategy without the overhang of a potential Nasdaq delisting. This development is particularly significant for shareholders, as it underscores the company's ability to address regulatory requirements and maintain its listing status.
Forward-looking statements in the press release indicate the company's belief in its long-term prospects, though they caution about inherent uncertainties. The announcement comes amid a period where many small-cap companies have faced similar compliance challenges due to market volatility. Galaxy's proactive approach and timely resolution may serve as a positive signal to investors about its financial health and management's effectiveness.
In summary, Galaxy Payroll Group's regained compliance with Nasdaq's minimum bid price requirement not only secures its continued listing but also reinforces market confidence in its operational and strategic direction.
