GlobeNewswire Inc | Aug 31, 2021 04:00PM EDT

August 31, 2021

Harbin, China, Aug. 31, 2021 (GLOBE NEWSWIRE) -- China XD Plastic Company Limited (Nasdaq: CXDC, the Company) today announced that as expected, it received a letter (the Letter) from the Listing Qualifications Department of the Nasdaq Stock Market (Nasdaq) notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule5250(c)(1) as a result of not having timely filed its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 (the Form 10-Q) and because the Company has not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (the Form 10-K).

The Letter has no immediate effect on the listing or trading of the Companys common stock on the Nasdaq Global Market. The Letter states that the Company is required to submit a written update of the audit work and audit procedures. If the plan is accepted by Nasdaq, then Nasdaq can grant the Company up to 180 calendar days from the due date of the Form 10-K to regain compliance.

About China XD Plastics Company Limited

China XD Plastics Company Limited, through its wholly-owned subsidiaries, develops, manufactures, and sells polymer composites materials, primarily for automotive applications. The Companys products are used in the exterior and interior trim and in the functional components of 31 automobile brands manufactured in China, including without limitation, Audi, Mercedes Benz, BMW, Toyota, Buick, Chevrolet, Mazda, Volvo, Ford, Citroen, Jinbei, VW Passat, Golf, and Jetta. The Companys wholly-owned research center is dedicated to the research and development of polymer composites materials and benefits from its cooperation with well-known scientists from prestigious universities in China. As of March 31, 2021, 688 of the Companys products have been certified for use by one or more of the automobile manufacturers in China. For more information, please visit the Companys English website at http://chinaxd.irpass.com/, and the Chinese website at http://www.xdholding.com.

Contacts:China XD Plastics Co., Ltd.

Mr. Taylor Zhang, CFO

Phone: +1 (212) 747-1118Email: cxdc@chinaxd.net