Zhongchao Announces 1-for-31 Share Consolidation To Retain Nasdaq Listing; Stock Down

India, June 5 -- 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 co...