Ping An Biomedical Sets 1-for-40 Reverse Split Effective October 23; PASW Shares Rise 5%

Ping An Biomedical Co., Ltd. (PASW) said its board approved a 1-for-40 reverse stock split of its Class A and Class B ordinary shares, effective October 23, 2026. Shares were trading up 5.03% at $0.09 following the announcement. Under the consolidation, every 40 issued and unissued shares of each class will be combined into one share, raising par value to $0.0025 from $0.0000625, with fractional entitlements rounded up. Outstanding Class A shares are expected to fall to about 2.82 million from 112.87 million, and Class B shares to roughly 0.30 million from 12.25 million, subject to fractional adjustments. Shareholders authorized the board to set the ratio at a March 18, 2026, extraordinary general meeting, and the board unanimously approved the 1-for-40 ratio on August 6, 2026. Split-adjusted Class A trading is expected to begin at market open on October 23 on the Nasdaq Capital Market under the symbol "PASW," with new CUSIP G5880S139. The company said the consolidation and amended articles may require shareholder approval based on Cayman Islands counsel advice.