Zhongchao Inc. Announces 1-for-8 Share Consolidation

Core Viewpoint - Zhongchao Inc. announced a 1-for-8 share consolidation to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on the Nasdaq Capital Market [1] Company Overview - Zhongchao Inc. is a platform-based internet technology company focused on providing services for patients with cancer and other major diseases [1] - The company is incorporated in the Cayman Islands and consolidates the financial results of its variable interest entity, Zhongchao Medical Technology (Shanghai) Limited, through contractual arrangements [1] Share Consolidation Details - The share consolidation will take effect on March 2, 2026, with Class A ordinary shares trading under the same symbol "ZCMD" but with a new CUSIP number of G9897X123 [1] - Every eight Class A ordinary shares will be consolidated into one Class A ordinary share, and the same applies to Class B ordinary shares [1] - Prior to the consolidation, the company had 25,754,124 Class A and 4,999,772 Class B ordinary shares outstanding, which will reduce to approximately 3,219,267 Class A and 624,972 Class B ordinary shares post-consolidation [1] Shareholder Impact - 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 from fractional shares [1] - The consolidation was approved by the company's shareholders and board of directors on February 10, 2026 [1]