Haoxi Health Technology announces 1-for-25 reverse share split
Reverse Share Split Announcement: Haoxi Health Technology will implement a 1-for-25 reverse share split, approved by shareholders on January 10, 2025, with trading on an adjusted basis starting January 27, 2025.
Impact on Shares: The reverse split will reduce the outstanding Class A shares from approximately 53.29 million to about 2.13 million and Class B shares from around 17.27 million to about 0.69 million, along with amendments to the company's Articles and Memorandum of Association.
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Concerns Arise Among Investors Regarding Haoxi Health Technology's (NASDAQ:HAO) Capital Returns
Haoxi Health Technology's Financial Performance: The company has a low return on capital employed (ROCE) of 4.1%, significantly below the media industry average of 9.5%, indicating underperformance despite an increase in capital employed and revenue.
Growth Strategy and Risks: Although Haoxi is reinvesting for growth, leading to higher sales, its stock has plummeted 82% over the past year, suggesting potential underlying issues, including five warning signs that investors should be aware of.
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Pre-Market Stock Movements: Several stocks saw significant pre-market trading movements, with YY Group Holding Limited gaining 122.9% and Vince Holding Corp rising 101%, while Robin Energy Ltd. and TOP Financial Group Limited experienced declines of 23.5% and 21.6%, respectively.
