Zhengwei Group (02147.HK) plans to carry out a stock consolidation with a ratio of "20 to 1".

Wisdom Finance News App, Zhenwei Group (02147.HK) announced that the board of directors has proposed a share consolidation plan, where every 20 existing and unissued shares with a face value of 0.01 US dollars per share will be consolidated into 1 share with a face value of 0.2 US dollars. As of the date of this announcement, the company has issued 1.12 billion existing shares and has no treasury shares. After the share consolidation takes effect, assuming no further issuance, repurchase, or cancellation of existing shares from the date of this announcement until the effective date of the share consolidation, the issued consolidated shares will not exceed 56 million shares.