Hangzhou, China, Oct. 10, 2025 (GLOBE NEWSWIRE) -- WORK Medical Technology Group LTD (NASDAQ:WOK) ("WORK Medical" or the "Company"), a supplier of medical devices in China, through its subsidiary, Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and its subsidiaries in China, today announced that it has received a notification letter from the Nasdaq Stock Market LLC ("Nasdaq") granting the Company an additional 180-calendar-day period to regain compliance with the minimum bid price requirement pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Rule").

The notification follows Nasdaq's initial notice on April 7, 2025, which stated that WORK Medical's stock had failed to meet the minimum bid price requirement over a period of 30 consecutive business days, and provided WORK Medical an initial compliance period of 180 calendar days to regain compliance. The initial compliance period expired on October 6, 2025.

According to the letter issued by Nasdaq on October 7, 2025, WORK Medical is eligible for an additional compliance period until April 6, 2026, as the Company continues to meet all other applicable listing requirements for the Nasdaq Capital Market, except for the bid price rule. The Company has informed Nasdaq of its intention to cure the deficiency, including, if necessary, by the implementation of a reverse stock split.

To regain compliance with the Rule, WORK Medical's stock must achieve a minimum closing bid price of $1.00 per share for at least 10 consecutive business days during the additional compliance period. Nasdaq has discretion to require the bid price to be maintained for a longer period, up to 20 days, depending on factors such as margin of compliance, trading volume, and the Market Maker montage.

If WORK Medical fails to regain compliance with the Rule by April 6, 2026, Nasdaq will issue a formal notification of delisting. In such a scenario, the Company may appeal the determination to a Nasdaq Hearings Panel.

The October 7, 2025 notification from Nasdaq has no immediate effect on the listing or trading of the Company's Class A ordinary shares, which will continue to trade on the Nasdaq Capital Market under the symbol "WOK."

About WORK Medical Technology Group LTD

WORK Medical Technology Group LTD, through its subsidiary, Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and its subsidiaries in China, is a supplier of medical devices that develops and manufactures Class I and II medical devices and sells Class I and II disposable medical devices through operating subsidiaries in China. The Company has a diverse product portfolio comprising 21 products, including customized and multifunctional masks and other medical consumables. All the products have been sold in 34 provincial-level administrative regions in China, with 15 of them sold in more than 30 countries worldwide. The Company has received a number of quality-related manufacturing designations and has registered 17 products with the U.S. Food and Drug Administration allowing their products to enter the U.S. market. For more information, please visit the Company's website: https://www.workmedtech.com/corporate.

Forward-Looking Statements

This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Any forward-looking statements in this press release are based on the Company's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results set forth in the Company's annual report on Form 20-F and other documents filed by the Company with the U.S. Securities and Exchange Commission. The Company explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

For more information, please contact:

WORK Medical Technology Group LTD

Investor Relations Department

Email: ir@workmedtech.com

Ascent Investor Relations LLC

Tina Xiao

Phone: +1-646-932-7242

Email: investors@ascent-ir.com

WORK Medical Technology Group LTD Granted Additional 180-Day Period to Regain Nasdaq Compliance