Ping An Biomedical announces 1-for-40 reverse stock split

Ping An Biomedical Co., Ltd. has announced a significant corporate action: a 1-for-40 reverse stock split. This decision, approved by the board, is set to take effect on October 23, 2026. The move is intended to consolidate shares and potentially enhance the company's market value, making it more appealing to institutional investors.

Ping An Biomedical operates within the apparel industry, specifically classified under the SIC code 2300, which focuses on apparel and other finished products of fabrics and similar materials. The company trades on the Nasdaq under the ticker symbol PASW.

The recent filing details that during an extraordinary general meeting held on March 18, 2026, shareholders approved the consolidation of shares. Following the split, every 1,000 class A ordinary shares will be combined into one class A ordinary share, and the same will apply to class B ordinary shares. This consolidation will not result in fractional shares being issued; instead, any fractional entitlements will be rounded up to the next whole number.

As of the filing date, the company reports having 112,867,000 class A ordinary shares and 12,250,000 class B ordinary shares outstanding. Post-split, these numbers are expected to decrease to approximately 2,821,675 class A shares and 306,250 class B shares.

The share consolidation is part of a broader strategy to adjust the company's capital structure. Ping An Biomedical aims to improve its stock price perception and attract a wider range of investors. The effective date of the reverse stock split will be crucial for the company's market positioning.

Following the reverse split, the class A ordinary shares will continue to trade on the Nasdaq under the same ticker symbol, PASW, but will do so on a split-adjusted basis. The new CUSIP number for the class A shares will be G5880S139.

The filing does not specify any immediate next steps beyond the effective date of the reverse stock split, but it indicates that the company is committed to making necessary adjustments to its authorized share capital as needed.