HiTek Global Inc. Implements 50-for-1 Share Consolidation to Maintain Nasdaq Listing

HiTek Global Inc. Announces 50-for-1 Share Consolidation

In a significant move aimed at maintaining its position on the Nasdaq Capital Market, HiTek Global Inc. (Nasdaq: HKIT) has declared a share consolidation plan of 50-for-1. This strategic decision, set to take effect on April 6, 2026, is designed to comply with Nasdaq's minimum bid-price requirement.

This consolidation means that every 50 shares of HiTek's Class A ordinary shares will be combined into a single share. Consequently, while individual holdings will decrease in quantity, the value of each share will increase to reflect this consolidation process. The par value of each Class A share will also adjust from $0.0001 to $0.005 as a result of this change. Despite the consolidation, the total authorized share capital will remain stable at $316,000, further categorized into various classes of shares.

HiTek's decision follows a previous resolution passed during its 2025 Annual General Meeting held on November 24, 2025, where shareholders granted the board authority to execute share consolidations with cumulative ratios varying from 1-for-40 to 1-for-5,000 within a two-year timeframe. Following this meeting, on March 25, 2026, the board authorized the implementation of the 50-for-1 consolidation.

Furthermore, this action aims to enhance the trading of HiTek’s shares on the Nasdaq. Beginning April 6, 2026, the stocks will trade under the same symbol, HKIT, albeit adjusted for the new consolidated structure. In addition to the change in price and quantity, a new CUSIP number, G45139113, will identify the shares post-consolidation.

It’s essential to note that in connection with the share consolidation, fractional shares will not be issued. Any fraction resulting from the consolidation will be rounded to the nearest whole share at the participant level, ensuring that all shareholders are equitably treated during this transition.

About HiTek Global Inc.

HiTek Global Inc., located in Xiamen, China, operates as an information technology consulting and solutions provider. The company has divided its services into two main categories: 1) offerings targeted at small and medium-sized enterprises, which include their Anti-Counterfeiting Tax Control System (ACTCS) tax devices and IT services; and 2) solutions intended for larger corporations, focusing on hardware and software sales.

HiTek Global aims to position itself as a comprehensive service provider for IT consulting and business strategies in the Chinese market. As it moves forward with this share consolidation, the company demonstrates a proactive approach to ensuring compliance with stock market regulations while looking to enhance its overall operational framework.

For further information, stakeholders are encouraged to visit the official website at www.xmhitek.com. This website provides a deeper insight into the company's services and future prospects. Overall, HiTek's commitment to maintaining compliance and fostering growth within the technology sector in China exemplifies its strategic vision for the future.

Forward-Looking Statements
The announcement from HiTek Global contains forward-looking statements as per the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. It is crucial for investors to be aware that all predictions and forward-looking comments entail risks and uncertainties. Investors should review other factors that might influence future results on the company’s SEC filings.