China Pharma Announces Receipt of Noncompliance Notice from NYSE American

HAIKOU, China, June 22, 2022 /PRNewswire/ -- China Pharma Holdings, Inc. (NYSEAmerican:CPHI) ("China Pharma," the "Company" or "We"), a specialty pharmaceutical company, today announced that on June 15, 2022, the Company received a letter from NYSE American LLC ("NYSE American" or the "Exchange") stating that the Company was not in compliance with the continued listing standards as set forth in Section 1003(a)(iii) of the NYSE American Company Guide (the "Company Guide"). In order to maintain its listing, the Company must submit a plan of compliance by July 15, 2022 addressing how it intends to regain compliance with Section 1003(a)(iii) of the Company Guide by December 15, 2023. If the plan is accepted, the Company may be able to continue its listing but will be subject to periodic reviews by the Exchange. If the Company does not submit a plan or if the plan is not accepted, delisting proceedings may commence. If the plan is accepted but the Company is not in compliance with the continued listing standards by December 15, 2023, or if the Company does not make progress consistent with the plan, the Exchange may initiate delisting procedures. The Company's management is pursuing options to address the deficiency and intends to submit a compliance plan on or before the deadline set by the Exchange.