Shengfeng Development Limited, a contract logistics company in China, announced a 1-for-15 reverse stock split of its Class A and Class B ordinary shares, with trading on the Nasdaq Capital Market expected to begin on a post-split basis at the market open on September 8, 2026. The split, approved by shareholders at an extraordinary general meeting on August 24, 2026, will reduce outstanding Class A shares from approximately 40,617,513 to about 2,707,834 and Class B shares from approximately 41,880,000 to about 2,792,000. Every fifteen shares of each class will convert into one new share, with fractional shares rounded up to the nearest whole number, and the par value will increase proportionally from US$0.0001 to US$0.0015. The company's transfer agent, VStock Transfer, LLC, will act as exchange agent, and shareholders holding shares through brokers or nominees will have their positions adjusted automatically without needing to take action.
Shengfeng Development Limited Class A Ordinary SharesShengfeng announces a 1-for-15 reverse stock split effective September 8, 2026, a capital-structure event with no clear positive or negative fundamental impact.
