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Jin Medical International Ltd. Announces 1-for-20 Share Combination as Part of Strategic Nasdaq Compliance Initiative
CHANGZHOU, China, March 11, 2026 /PRNewswire/ -- Jin Medical International Ltd. (NASDAQ: ZJYL) ("Jin Medical", and together with all its subsidiaries and
About this update from Jin Medical International Ltd.
[{"type":"text","content":"CHANGZHOU, China, March 11, 2026 /PRNewswire/ -- Jin Medical International Ltd. (NASDAQ: ZJYL) (\"Jin Medical\", and together with all its subsidiaries and consolidated entities, the \"Company\"), a NASDAQ-listed leading provider of rehabilitation medical equipment, today announced that its Board of Directors has approved an 1-for-20 share combination of all its authorized and issued ordinary shares (the \"Stock Combination\") pursuant to the authorization granted from an extraordinary general meeting of the Company's shareholders on January 30, 2026 (the \"EGM\"). Effective as of the date of the EGM, the Company's authorized share capital is reclassified into a dual class of Class A ordinary shares and Class B ordinary shares (the \"Reclassification\"). As a result of the Reclassification and the Stock Combination, the Company's authorized share capital will be US$50,000 divided into 45,000,000 Class A ordinary shares of a par value of US$0.001 each, and 5,000,000 Class B ordinary shares of a par value of US$0.001 each. In accordance with the requirements under Cayman Islands law, the Company has filed the second amended and restated memorandum and articles of association with the Registrar of Companies in the Cayman Islands to reflect the Reclassification. The Company has also filed the EGM minutes along with the board resolutions approving the Stock Combination with the Registrar of Companies in the Cayman Islands to effectuate the Stock Combination.\nThe Stock Combination will become effective on March 16, 2026 at 09:00 a.m., Eastern Time.The Company's Class A ordinary shares will continue to trade on The Nasdaq Capital Market (\"Nasdaq\") under the existing symbol \"ZJYL\" and will begin trading on a consolidation-adjusted basis when the market opens on March 16, 2026. The new CUSIP number for the Class A ordinary shares following the Stock Combination will be G5140V120.At the effective time of the Stock Combination, every 20 shares of the Company's authorized and issued ordinary shares (including all Class A ordinary shares and Class B ordinary shares) will be combined into 1 share of ordinary share in the respective share class. This will reduce the number of issued and outstanding shares of Class A ordinary shares from 136,547,100 shares to 6,827,355 shares, and reduce the number of issued and outstanding shares of Class...