Haoxin Holdings gets Nasdaq extension, names two new directors

Haoxin Holdings Limited (NASDAQ: HXHX), a China-based temperature-controlled logistics company, announced changes to its board of directors and disclosed a Nasdaq minimum bid price compliance extension, according to a press release.

Two independent directors resigned effective July 8, 2026. Bangjie Hu stepped down as an independent director and chair of the audit committee, and Mikael Charette resigned as an independent director and chair of the compensation committee. Both had submitted their resignations on June 23, 2026.

On July 20, 2026, the board appointed two new independent directors to fill the vacancies. Rohit Phansalkar was named chair of the compensation committee and a member of the nominating and audit committees. His background includes roles as managing director at Bear Stearns & Co. and Oppenheimer & Co., and he currently serves as chairman and CEO of RKP Capital, Inc. Mengzhi Wang was appointed chair of the audit committee and a member of the nominating and compensation committees. The board determined both appointees meet Nasdaq's independence requirements under Listing Rule 5605(a)(2).

On June 17, 2026, Nasdaq granted the company a 180-day extension, giving it until December 14, 2026, to regain compliance with the exchange's minimum bid price requirement. The company said it is monitoring its Class A Ordinary Share closing bid price and may consider options including a reverse stock split to meet the deadline. If compliance is not restored within the extension period, Nasdaq would issue a delisting notice, which the company could appeal to a Nasdaq hearings panel.

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