Zhongchao effectuates one-for-two share consolidation on Nasdaq stock exchange

SHANGHAI, Sept. 30, 2026 /PRNewswire/ -- Zhongchao Inc. (NASDAQ: ZCMD) ("Zhongchao" or the "Company"), a platform-based internet technology company offering services for patients with cancer and other major diseases, today announced that the Company will effectuate a 1-for-2 share consolidation of the Company's ordinary shares of US$0.744 par value each (the "Share Consolidation").

Beginning with the opening of trading on October 2, 2026, the Company's Class A ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol "ZCMD," but under a new CUSIP number of G9897X156. The objective of the Share Consolidation is to maintain its listing on the Nasdaq Capital Market.

Upon the effectiveness of the Share Consolidation, every two (2) Class A ordinary shares with a par value of US$0.744 each will be consolidated into one (1) Class A ordinary share with a par value of US$0.00001 each, and every two (2) Class B ordinary shares with a par value of US$0.744 each will be consolidated into one (1) Class B ordinary share with a par value of US$0.00001 each. No fractional shares will be issued as a result of the Share Consolidation. Instead, any fractional shares that would have resulted from the Share Consolidation will be rounded up to the next whole number. Immediately prior to the Share Consolidation, as of the date hereof, the Company has a total of 8,666,755 Class A ordinary shares and 206,721 Class B ordinary shares issued and outstanding, respectively. As a result of the Share Consolidation, the Company will have approximately 4,333,378 Class A ordinary shares and 103,361 Class B ordinary shares issued and outstanding, respectively, subject to the rounding up of any fractional shares. The Share Consolidation affects all shareholders uniformly and will not alter any shareholder's percentage interest in the Company's outstanding ordinary shares, except for adjustments that may result from the treatment of fractional shares. The Share Consolidation was approved by the Company's shareholders on September 18, 2026 and by board of directors on September 10, 2026, respectively.

More information about the Company can be found at its investor relations website at http://izcmd.com.