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Zhibao shareholders approve share consolidation trigger at $0.12 and grant Botao Ma board veto rights
ZBAOZhibao Technology Inc.
Zhibao Technology Inc. held an Extraordinary General Meeting on September 29, 2026, where shareholders approved four key proposals. The company increased its authorized share capital from US$50,000 to US$200,000 by creating 1.5 billion new Class A ordinary shares. Shareholders also adopted an amended and restated memorandum and articles of association granting veto rights over Board decisions to Botao Ma. Additionally, the company approved a conditional share consolidation mechanism: if the Nasdaq closing bid price falls below US$0.12 per share, 50 existing shares will consolidate into one effective on the 15th trading day after such trigger event. Separately, Chief Financial Officer Jinyang Guo resigned on September 26, 2026, and Chief Operating Officer Xiaowei Le resigned on September 15, 2026; CEO Jinmei Guo Hellstroem will temporarily assume CFO duties. Zhibao Technology Inc. operates in the technology sector.