As a result of the Reverse Share Split, each five (5) issued and outstanding Class A Ordinary Shares will be combined into one (1) Class A Ordinary Share, and each five (5) issued and outstanding Class B Ordinary Shares will be combined into one (1) Class B Ordinary Share, automatically and without any action by shareholders. The Reverse Share Split will result in a proportional increase in par value from US$0.000005 per share to US$0.000025 per share and an adjustment of the Company’s authorized share capital (which remains unchanged at US$2,500) to 90,000,000 Class A Ordinary Shares and 10,000,000 Class B Ordinary Shares, each with a par value of US$0.000025. After giving effect to the Reverse Share Split, the Company expects to have approximately 1,434,800 Class A Ordinary Shares and 1,835,200 Class B Ordinary Shares issued and outstanding. The Reverse Share Split is intended to increase the market price per share of the Company’s Ordinary Shares to allow the Company to maintain its Nasdaq listing.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.