Keyuan receives delinquency notice from NASDAQ

ERJ staff report (DS)

Ningbo, China -- Keyuan Petrochemicals, Inc. has received a further notice from NASDAQ stating the Company is not in compliance with Listing Rule 5250(c)(1) due to not filing its Form 10-Q for the three months ended June 30, 2011 by the due date of August 15, 2011.

the Company received notices from the NASDAQ on April 7, 2011 and on May 19, 2011, stating that the Company was not in compliance with Listing Rule 5250(c)(1) for continued listing due to not filing its Form 10-K for the year ended December 31, 2010 by the due date of March 31, 2011, and its Form 10-Q for the three months ended March 31, 2011 by the due date of May 16, 2011, respectively.

Management reminded shareholders that on July 26th the NASDAQ Hearings Panel granted a stay of delisting of the Company's securities pending the Company's scheduled hearing to be held on August 25, 2011. As a result, the Company's securities will remain listed, however halted, on the NASDAQ Global Select Market pending further action by the Hearings Panel.

Keyuan is making styrenic block co-polymers and has announced plans to partner with a Chines etyre maker to develop S-SBR for use in tyres.

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Press release from Keyuan