Ping An Biomedical Co., Ltd. filed a Form 6-K with the SEC on October 30, 2026, reporting the voting results of its Extraordinary General Meeting held on October 29, 2026, at which shareholders approved all five proposals, including ratification of a 40-for-1 share consolidation effective October 23, 2026.

Key Highlights

  • 40-for-1 Share Consolidation Ratified: Shareholders approved consolidation of every 40 Class A and Class B ordinary shares into one share, effective October 23, 2026.
  • Record Date Shares Outstanding: As of September 29, 2026, there were 112,867,000 Class A Ordinary Shares and 12,250,000 Class B Ordinary Shares issued and outstanding.
  • Authorized Capital Increased: Shareholders approved raising authorized share capital from US$312,500 to US$12,500,000, expanding Class A authorized shares to 4,900,000,000 at a par value of US$0.0025 each.
  • Fourth Amended Articles Adopted: A fourth amended and restated memorandum and articles of association was approved, replacing the third amended version.
  • Conditional Further Consolidations Approved: Shareholders authorized additional future share consolidations at ratios of 10-to-1, 20-to-1, or 50-to-1, each triggered by specific closing-price thresholds over 20 consecutive trading days.
  • Voting Margin: Proposals 1 and 2 received 1,294,500,069 votes for and 30,150 against; Proposals 3 and 4 received 1,294,500,219 votes for and 30,000 against.

Ping An Biomedical Shareholders Approve Capital Structure Overhaul at October 2026 EGM

According to the filing, Ping An Biomedical Co., Ltd. (NASDAQ:PASW) held its Extraordinary General Meeting on October 29, 2026, at Room 2912, 29/F., New Tech Plaza, 34 Tai Yau Street, San Po Kong Kowloon, Hong Kong, commencing at 10 P.M. Hong Kong Time. The record date for voting eligibility was September 29, 2026, with 112,867,000 Class A Ordinary Shares and 12,250,000 Class B Ordinary Shares issued and outstanding. Each Class B Ordinary Share was entitled to 100 votes, according to the filing.

The filing reports that all five proposals were resolved. Proposal 1 ratified a 40-for-1 share consolidation that took effect on October 23, 2026, converting shares of par value US$0.0000625 into shares of par value US$0.0025, and reducing authorized Class A shares from 4,900,000,000 to 122,500,000 and authorized Class B shares from 100,000,000 to 2,500,000. The board had previously adopted this consolidation by unanimous written resolution on August 6, 2026. Proposal 2 ratified a third amended and restated memorandum and articles of association to reflect the consolidation. Both proposals passed with 1,294,500,069 votes for and 30,150 against.

Proposals 3 and 4, which passed with 1,294,500,219 votes for and 30,000 against, increased authorized share capital to US$12,500,000 and adopted a fourth amended and restated memorandum and articles. Proposal 5 authorized the board to implement further share consolidations, at 10-to-1 if the Class A share closing price falls below US$1.00 but stays at or above US$0.50, at 20-to-1 if it falls below US$0.50 but stays at or above US$0.25, or at 50-to-1 if it falls below US$0.25 but stays at or above US$0.10, in each case over 20 consecutive trading days, according to the filing.

What Was Disclosed

Ping An Biomedical filed a Form 6-K disclosing EGM voting results for October 29, 2026, covering ratification of a 40-for-1 share consolidation effective October 23, 2026, an increase in authorized share capital to US$12,500,000, adoption of updated articles, and approval of conditional future consolidation mechanisms.