Zhongchao Inc. (ZCMD), a healthcare and internet technology company, said it will implement a 1-for-31 share consolidation effective June 8, 2026, to maintain compliance with Nasdaq Capital Market listing requirements.
Each 31 Class A ordinary shares of US$0.008 par value will be consolidated into one Class A share of US$0.248 par value, and every 31 Class B ordinary shares of US$0.008 par value will be consolidated into one Class B share of US$0.248 par value. No fractional shares will be issued; any fractional shares will be rounded up to the nearest whole share.
AS of the consolidation date, Zhongchao has 79,685,696 Class A ordinary shares and 624,972 Class B ordinary shares outstanding. After the consolidation, the company will have approximately 2,570,507 Class A ordinary shares and 20,161 Class B shares outstanding.
The share consolidation was approved by shareholders on February 10, 2026, and by the board of directors on March 31, 2026.
Zhongchao operates online healthcare education and patient management platforms, including MDMOOC for medical professionals and Sunshine Health Forums for the public.
ZCMD is currently trading at $0.030, down 16.02%.
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