November 22, 2010 (FinancialWire) (http://www.financialwire.net/) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Fuqi International, Inc. (NASDAQ: FUQI) said it has received an expected notice of noncompliance from The NASDAQ Stock Market due to the delay in filing the company's quarterly report on Form 10-Q for the period ended September 30, 2010.

NASDAQ listing rules require the timely filing of periodic reports with the Securities and Exchange Commission.

As previously reported, on September 29, Fuqi received a NASDAQ notice of noncompliance due to the delay in filing the company's annual report on Form 10-K for the year ended December 31, 2009, and quarterly reports on Form 10-Q for the periods ended March 31 and June 30, 2010.  

As a result, the company was subject to delisting unless it requested a hearing before a NASDAQ Listing Qualifications Panel. In response, the company requested a hearing before a panel, which occurred on November 11, 2010.

The panel typically issues a written decision around 30-40 days after the hearing. Under NASDAQ's rules, the panel has the authority to grant an extension for a period not to exceed 360 days from the due date of Fuqi’s initial late periodic report or through March 28, 2011.

China-based Fuqi is a designer, producer and seller of precious metal jewelry in China.

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