Ucommune(US:UK)2023-11-29 14:12Share Capital and Structure - Ucommune's shareholders approved an increase in authorized share capital from $50,000 to $600,000, allowing for 300,000,000 ordinary shares[5] - The new authorized share capital will consist of 240,000,000 Class A shares and 60,000,000 Class B shares, with a par value of $0.024 each[5] - Class A ordinary shares will have one vote per share, while Class B ordinary shares will have fifty-five votes per share following the approved changes[2] - The share consolidation will take effect on November 29, 2023, converting every 12 pre-split ordinary shares into one ordinary share[3] - No fractional shares will be issued in connection with the share consolidation; all fractional shares will be rounded up to whole shares[4] - The company's shares will begin trading on a post-consolidation basis on the Nasdaq Capital Market under the same symbol "UK" starting November 30, 2023[4] Business Strategy and Market Position - Ucommune aims to enhance its position as a leading co-working office space provider in China, focusing on flexible and cost-efficient office solutions[6] - Ucommune's growth strategies will be influenced by trends and competition in China's co-working office space market[7] - The company is committed to understanding members' needs and enhancing its brand recognition and reputation[7] - Ucommune's future business development will be subject to various risks and uncertainties, including governmental policies and general economic conditions[7]