Zhongchao effectuates one for two share consolidation on Nasdaq stock exchange

Zhongchao Inc., a platform-based internet technology company focused on cancer and major disease patient services, has announced plans to consolidate its ordinary shares in a 1-for-2 share consolidation on the Nasdaq stock exchange. This Share Consolidation will commence with trading on October 2, 2026. Following the Share Consolidation, each Class A ordinary share, currently valued at US$0.744, will be consolidated into a single share with a par value of US$0.00001, and the same consolidation will apply to Class B ordinary shares valued at US$0.744.

No fractional shares will be issued; any resulting fractional shares will be rounded up to the nearest whole share. As of the current date, Zhongchao has issued and outstanding a total of 8,666,755 Class A ordinary shares and 206,721 Class B ordinary shares. Post-consolidation, the company will have approximately 4,333,378 Class A shares and 103,361 Class B shares.

The Share Consolidation was approved by shareholders on September 18, 2026, and by the board of directors on September 1, 2026. The consolidation aims to maintain Zhongchao's listing on the Nasdaq Capital Market under the same symbol (ZCMD) but with a new CUSIP number (G9897X156). For further details about the company, investors can visit their investor relations website at <http://izcmd.com>.