Shengkai Innovations Receives Notice From NASDAQ Regarding Minimum Market Value of Listed Securities

Shengkai Innovations, Inc. VALV today announced the company received a notice from NASDAQ's Listing Qualifications Department indicating that for the last 30 consecutive business days the bid price for the Company's common stock had closed below the minimum $1.00 per share required for continued listing on The NASDAQ Global Market under NASDAQ Listing Rule 5450(a)(1). The notification letter states that the Company will have 180 calendar days, or until May 8, 2012, to regain compliance with the minimum bid price requirement. In order to regain compliance, shares of the Company's common stock must maintain a minimum closing bid price of $1.00 per share for a minimum of ten consecutive business days. The notification letter has no effect at this time on the listing of the Company's common stock on The NASDAQ Global Market. Shengkai's common stock will continue to trade on The NASDAQ Global Market under the symbol "VALV".