Cellyan Plans 1-for-20 Reverse Split to Regain Nasdaq Compliance; Shares Fall 22%

Cellyan Biotechnology Co., Ltd. (HKPD) said Wednesday it plans a board-approved 1-for-20 reverse stock split, primarily to regain compliance with Nasdaq's minimum bid price requirement. Shares fell 22.48% to $0.08 following the announcement. The split is expected to take effect at market opening on October 26, 2026. Every 20 outstanding Class A and Class B ordinary shares will become one share, with par value rising to $0.02 from $0.001. Class A shares will trade on a split-adjusted basis on Nasdaq under the existing symbol "HKPD," with a new CUSIP number of G6365B112. Fractional shares will be rounded up to the nearest whole share at the participant level, and percentage ownership will remain unchanged except for fractional-share adjustments. The company noted there is no assurance it will regain compliance within the applicable compliance period or maintain compliance with Nasdaq's continued listing requirements thereafter.