Haoxi Health Announces 1-for-128 Reverse Share Split; Stock Plunges

(RTTNews) - Haoxi Health Technology Ltd (HAO) is moving forward with a major share restructuring as it implements a 1-for-128 reverse share split, a step aimed at boosting its per-share trading price and preserving compliance with Nasdaq listing requirements. The company said the reverse split will apply to both its Class A and Class B ordinary shares, each with a par value of $0.0025 per share. Following the adjustment, the new par value for both classes will be $0.32 per share. Haoxi Health noted that its Class A ordinary shares will begin trading on a split-adjusted basis at the opening of the Nasdaq Capital Market on May 21, 2026, and will continue under the ticker symbol HAO, with a new CUSIP number assigned. The company expects the reverse split to increase the trading price of its Class A shares by approximately 128 times relative to the pre-split price, though it cautioned that there is no assurance the post-split price will reflect the full ratio or remain above prior levels. No fractional shares will be issued. Any fractional interests resulting from the split will be rounded up to the nearest whole share. Following the adjustment, the number of issued and outstanding shares will be significantly reduced-from 235,504,007 to approximately 1,839,876 Class A shares, and from 690,800 to approximately 5,397 Class B shares, subject to rounding. The company's board of directors approved the reverse split on March 24, 2026. Transhare Corporation LLC will serve as the exchange and paying agent for the process. Shareholders holding shares in book-entry or brokerage accounts are not required to take any action, while those holding physical certificates will receive instructions for exchanging them. HAO shares recently traded at $0.0134, down 24.72% ahead of the split-adjusted transition. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.