BEIJING, Jan. 23, 2025 – Haoxi Health Technology Limited (“HAO”), a China-based provider of online marketing solutions, has announced plans for a reverse share split. The split, approved by shareholders on January 10, 2025, will consolidate every twenty-five ordinary shares into one.
The company’s Class A ordinary shares will begin trading on the Nasdaq Capital Market on January 27, 2025, adjusted to reflect the reverse share split, under the existing ticker symbol “HAO.” The new CUSIP number is G4290F118. The reverse split will reduce the outstanding Class A ordinary shares from approximately 53.29 million to approximately 2.13 million, and Class B shares from around 17.27 million to about 0.69 million. The company will also adjust its Articles and Memorandum of Association, proportionally reducing the number of authorized shares and adjusting the par value to $0.0025 per share.
Fractional shares will not be issued. Instead, shareholders entitled to a fractional share will have their entitlement rounded up to the nearest whole share.
The reverse split is expected to increase the trading price. However, Haoxi Health Technology Limited cannot guarantee the share price will consistently reflect the 1-for-25 ratio, remain elevated, or stay above the pre-split price. Further details can be found in the company’s notice of the 2025 annual general meeting filed with the Securities and Exchange Commission on December 19, 2024.
About Haoxi Health Technology Limited
Haoxi Health Technology Limited, headquartered in Beijing, China, provides online marketing solutions, especially for the healthcare industry. It offers a one-stop online marketing solution, including short video marketing, to help advertisers acquire and retain customers on platforms like Toutiao, Douyin, WeChat, and Sina Weibo. The company focuses on cost reduction, efficiency improvements, and providing simple marketing solutions.
For more information, please visit: http://ir.haoximedia.com.
Forward-Looking Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements involve plans, objectives, and other expectations that are not historical facts. The company’s use of words like “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” and “estimate” indicate forward-looking statements. Actual results may differ significantly from the company’s expectations. These statements are subject to uncertainties and risks including, but not limited to, company strategies, market trends, future business development, demand for new services, changes in technology, the ability to attract and retain professionals, client concentration, and general economic aspects. Investors are cautioned not to place undue reliance upon forward-looking statements. More factors are discussed in the company’s SEC filings, found at www.sec.gov. The Company undertakes no obligation to revise these forward-looking statements.
Investor Relations
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