--- title: "BGM Group regains Nasdaq compliance after filing its late 20-F" url: "https://aibio.space/news/bgm-group-regains-nasdaq-compliance-after-filing-late-20/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-07-28" section: "Listings" tickers: "NASDAQ:BGM" source: "https://www.sec.gov/Archives/edgar/data/1779578/000110465926087324/tm2621474d1_6k.htm" summary: "BGM Group filed the annual report for the year ended September 30, 2025 on July 21, 2026, and Nasdaq said the filing cured the lapse on July 24. The same r" --- By the aibio.space news desk. Sources - [BGM Group Ltd. 6-K (2026-07-28)](https://www.sec.gov/Archives/edgar/data/1779578/000110465926087324/tm2621474d1_6k.htm) - [BGM Group Ltd. 20-F (2026-07-21): business](https://www.sec.gov/Archives/edgar/data/1779578/000110465926085247/bgm-20250930x20f.htm) - [BGM Group Ltd. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1779578/000110465926085247/) [BGM](https://aibio.space/companies/bgm/) 2026-07-28 # BGM Group regains Nasdaq compliance after filing its late 20-F Tickers [BGM](https://aibio.space/companies/bgm/) BGM Group filed the annual report for the year ended September 30, 2025 on July 21, 2026, and Nasdaq said the filing cured the lapse on July 24. The same report shows a net loss of $19.9 million, up from $1.4 million. ## Key facts - **Company**: BGM Group Ltd. (NASDAQ: BGM) - **News type**: Listings - **Primary source**: [BGM Group Ltd. 6-K (2026-07-28)](https://www.sec.gov/Archives/edgar/data/1779578/000110465926087324/tm2621474d1_6k.htm) *Stone columns of a government building. Photo: The Building Envelope, CC0, via StockSnap. The picture shows the field, not the companies named.* ## The late filing BGM Group Ltd. said in a Form 6-K dated July 28, 2026 that it has regained compliance with Nasdaq Listing Rule 5250(c)(1), the periodic filing requirement. Nasdaq's Listing Qualifications Department had notified the company that it was out of compliance because it had not filed its annual report on Form 20-F for the fiscal year ended September 30, 2025 in a timely manner. BGM disclosed that notice in a press release dated February 26, 2026. The company filed the 20-F on July 21, 2026. On July 24, 2026, Nasdaq staff wrote that, based on that filing, BGM complies with the rule. The 6-K is signed by Huandi Zhao, Co-Chief Executive Officer and Director. The 6-K does not say why the report was late, and it gives no date for the next annual report. The Nasdaq letter addresses the filing requirement only. ## The money The 20-F reports revenue of $37.9 million for fiscal 2025, up from $25.1 million for fiscal 2024. The same filing reports a net loss of $19.9 million for fiscal 2025, against a net loss of $1.4 million a year earlier. Research and development expense was $672,669 in fiscal 2025, down from $1.4 million in fiscal 2024. Higher revenue did not prevent a larger loss. Research spending fell over the same period, so the research line does not account for the larger loss. Cash moved the other way. BGM used $2.4 million in operations in fiscal 2025, after providing $544,238 in fiscal 2024. Cash and cash equivalents were $9.8 million at September 30, 2025, and the filing's figure for September 30, 2024 is also $9.8 million. The 6-K does not address the gap between a $19.9 million net loss and $2.4 million of cash used in operations. ## The business and what is left open BGM, formerly Qilian International Holding Group Limited, is a Cayman Islands company whose principal executive office is in Chengdu, China. The 20-F says BGM does not own its variable interest entity, Gansu Qilianshan Pharmaceutical Co. Ltd., or the VIE's subsidiaries through equity ownership. It controls the VIE through contractual arrangements that include a call option agreement, an equity pledge agreement and a shareholders' voting rights proxy. The exclusive service agreement was amended on August 27, 2019, and replaced on December 1, 2022 by a Hainan exclusive service agreement. The 20-F also says Tibet Samen Trading Co., Ltd., a subsidiary of Gansu QLS, was dissolved in June 2023. Chengdu Qilianshan Biotechnology Co., Ltd. is 79.71% owned by Gansu QLS, and Rugao Tianlu Animal Products Co., Ltd. is 100% owned by that Chengdu company. The product list in the 20-F is broad. Ahan antibacterial paste is a disinfection paste made from 11 traditional Chinese herbal ingredients and is used for refractory chronic skin diseases. Gan Di Xin is an antitussive and expectorant medicine made from raw licorice materials. The company also sells licorice extracts to pharmaceutical makers, oxytetracycline active ingredients and tablets used in chickens, turkeys, cattle, swine and people, a heparin sodium preparation, and Xiongguan fertilizers. The filing also defines Zhu Xiaochang sausage casings as a food product. The 6-K gives no plan for the cash used in operations, no financing, and no update on the business after September 30, 2025. Regaining compliance settles the periodic filing question only. It does not change the net loss or the cash figures above. 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Cite as: aibio.space, "BGM Group regains Nasdaq compliance after filing its late 20-F", 2026-07-28, https://aibio.space/news/bgm-group-regains-nasdaq-compliance-after-filing-late-20/