On December 26, Suria Sukses Engineering sold 5 million shares at a weighted average price of $0.39 per share, for a total of $1.95 million. The next day, December 27, the company sold an additional 500,000 shares at a weighted average price of $0.86 per share, amounting to $430,000. Following these transactions, Suria Sukses Engineering now owns 17,482,895 shares in Graphjet Technology. The sales were made in multiple trades at prices ranging from $0.3318 to $0.461 on December 26, and from $0.7841 to $0.905 on December 27, as detailed in the footnotes to the filing. With a market capitalization of $148.93 million, GTI currently shows a poor degree of financial health according to InvestingPro Analysis, which provides additional insights into a company’s financial metrics and valuation. With a market capitalization of $148.93 million, GTI currently shows a poor degree of financial health according to InvestingPro Analysis, which provides additional insights into a company’s financial metrics and valuation.
On December 26, Suria Sukses Engineering sold 5 million shares at a weighted average price of $0.39 per share, for a total of $1.95 million. The next day, December 27, the company sold an additional 500,000 shares at a weighted average price of $0.86 per share, amounting to $430,000.
Following these transactions, Suria Sukses Engineering now owns 17,482,895 shares in Graphjet Technology. The sales were made in multiple trades at prices ranging from $0.3318 to $0.461 on December 26, and from $0.7841 to $0.905 on December 27, as detailed in the footnotes to the filing.
In other recent news, Graphjet Technology, a company known for converting agricultural waste into graphite and graphene, announced major operational developments. The company has promoted Liu Yu to the roles of Chief Operating Officer (COO) and Chief Scientific Officer (CSO), where he will oversee operational initiatives, customer support and business development.
Graphjet Technology has also received three ISO certifications from ARES International, highlighting its commitment to sustainable and efficient manufacturing practices. These certificates are ISO 14001:2015 for environmental management, ISO 9001:2015 for quality management, and ISO 45001:2018 for occupational health and safety management.
In addition, the company has obtained a patent in Malaysia for its innovative process for converting palm kernel shells into graphene, strengthening its intellectual property portfolio. On the corporate governance front, the company announced a change in its registered independent accounting firm, with the resignation of Adeptus Partners LLC.
Graphjet Technology also regained compliance with Nasdaq listing requirements after a brief period of non-compliance due to a late quarterly report. These are the latest developments that demonstrate Graphjet’s commitment to operational excellence and compliance. While the company continues to reassure stakeholders of its dedication to timely reporting, analysts from various companies continue to closely monitor these developments.
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