XI’AN, China, May 15, 2026, 19:07 (China Standard Time)
Smart Powerr Corp. shares slipped in premarket trading Friday on the Nasdaq, cooling off after Thursday’s eye-popping 257% jump. That outsized rally was fueled by traders chasing hopes the company might avoid a near-term Nasdaq delisting.
The stock wrapped up Thursday at $0.7143, soaring from $0.20 and briefly touching $0.9099 earlier in the day. As of 6:53 a.m. EDT Friday, premarket prices pegged it at $0.4868. Volume exploded—500.7 million shares changed hands, according to Yahoo Finance historical data, compared with just 5.8 million the day before.
The stock’s surge isn’t the full picture. CREG is still trading below the $1 minimum bid price mandated by Nasdaq for continued listing. Thursday’s uptick hasn’t erased that risk—this isn’t a simple turnaround case.
Smart Powerr said in a May 7 filing that Nasdaq notified the company on May 1: shares had traded below $1 for 30 straight sessions. Now the exchange is threatening to suspend trading starting May 12. A Form 25-NSE—the delisting paperwork—will follow, unless Smart Powerr requests a hearing by May 8.
By asking for a hearing, the company pointed out, it’s able to put any suspension or delisting on hold while a panel reviews the issue. “The Company intends to take all reasonable measures available to regain compliance,” Chief Financial Officer Yongjiang (Jackie) Shi wrote in the filing. Among possible steps: a fresh reverse stock split—cutting down the share count and, as a result, lifting the per-share price.
The notice also pointed out Smart Powerr was ineligible for the standard compliance window—it already went through a reverse split less than a year ago. The company said there’s no assurance the Nasdaq panel will allow continued trading of its shares, or that it can regain full compliance with listing requirements.
The stakes aren’t minor. In its annual report, Smart Powerr cautions that dropping off Nasdaq could sap liquidity, stir up more volatility, and make it harder to raise funds or strike deals. Offloading shares might get stickier, too. The company notes losing the listing could push the stock into penny stock territory, subjecting it to extra broker checks and disclosure requirements.
The company’s been down this path before. Back in July 2025, Smart Powerr did a reverse split to comply with Nasdaq’s minimum bid-price requirement, and by August, it had met the standard again. Fast forward less than a year, and it’s facing the same issue once more.
Smart Powerr isn’t seen as a clean-energy proxy. The Chinese firm previously centered its strategy on the build-operate-transfer model: it would set up energy-recovery systems, operate them for a while, then hand them off to industrial clients in sectors like cement and steel—industries that don’t shy away from large power needs. Lately, Smart Powerr has been moving further into the energy storage space.
Smart Powerr’s 2025 numbers tell the story behind its volatile trading. Sales reached $262,509, gross profit landed at $116,614, but the bottom line was a net loss of $2.9 million. The previous year, revenue was zero. Still, the company reported a $1.56 million loss. Year-end cash: $40,156.
Competition plays out locally, zeroing in on individual projects. Smart Powerr’s latest annual report lists state-backed research institutes and construction outfits—names like Hangzhou Steam Turbine & Power Group affiliates, as well as China National Material Group—alongside EPC contractors, including Dalian East New Energy Development and China Everbright International. EPC, or engineering, procurement and construction, refers to firms brought in to carry out the work, but not necessarily to operate the assets once built.
Quiver PriceTracker, in a note late Thursday, tied the sharp jump to the company’s disclosed path for a Nasdaq hearing. Still, the note flagged that this kind of move had all the hallmarks of speculative trading—no evidence of any fundamental improvement in the company’s business.
The risk is clear enough: If Nasdaq’s panel doesn’t grant an extension—or if another reverse split fails to keep shares above $1—the stock could keep swinging. Liquidity could thin out, and any new capital raise would sting for existing holders.
