EZGO Announces 1-for-25 Reverse Share Split Effective November 21, 2025

Rhea-AI Summary

EZGO (Nasdaq: EZGO) announced a 1-for-25 reverse share split approved November 7, 2025 and effective November 21, 2025, with par value changed to no par value.

The company said each 25 pre-split shares will combine into one post-split share, reducing issued and outstanding shares from 21,700,706 to approximately 868,029. Trading will continue on Nasdaq under symbol EZGO with a new CUSIP G5279F201. No fractional shares will be issued; fractional entitlements will be rounded up to whole shares. The company said the split is intended to increase the market price per share to maintain its Nasdaq listing. VStock Transfer, LLC will act as exchange agent for certificate adjustments.

Positive

• Reduces outstanding shares to approximately 868,029
• Aims to increase per‑share market price to maintain Nasdaq listing
• Par value changed to no par value, simplifying capital structure

Negative

• Reverse split equates to ~96% share consolidation (25:1)
• Potential reduced share liquidity after outstanding shares drop
• Shareholders experience concentration of ownership and trading lot change

CHANGZHOU, China, Nov. 19, 2025 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or "we," "our," or the "Company"), a leading short-distance transportation solutions provider in China, today announced that on November 7, 2025, its board of directors approved a reverse split of its ordinary shares on a one-for-twenty-five basis (the "Reverse Share Split"), and a change in par value of its ordinary shares to no par value. The Company's ordinary shares will begin trading on a post-split basis on November 21, 2025.

As a result of the Reverse Share Split, each twenty-five (25) pre-split ordinary shares of the Company will be automatically combined into one (1) ordinary share without any action on the part of the holders, with par value of the ordinary shares of the Company being changed from $0.04 per share to no per share, and the Company's issued and outstanding ordinary shares will be reduced from 21,700,706 to approximately 868,029. The Company's ordinary shares will continue to trade on the Nasdaq Capital Market ("Nasdaq") under the symbol "EZGO" under a new CUSIP number – G5279F201. The Reverse Share Split is intended to increase the market price per share of the Company's ordinary shares to allow the Company to maintain its Nasdaq listing.

No fractional shares will be issued as a result of the Reverse Share Split. Shareholders who would be entitled to a fractional share as a result of the 25 for 1 Reverse Split shall have their entitlement rounded up to the nearest whole share.

The Reverse Share Split will not be submitted to a vote of the Company's shareholders as a vote was not required under the laws of the British Virgin Islands.

The Company's transfer agent, VStock Transfer, LLC, will act as the exchange agent. Adjustments made to ordinary shares represented by physical stock certificates can be made upon surrender of the certificate to the transfer agent. Please contact VStock Transfer, LLC for further information at (212) 828-8436.

About EZGO Technologies Ltd.

Leveraging an Internet of Things (IoT) product and service platform and two e-bicycle brands, "EZGO" and "Cenbird," EZGO has established a business model centered on the design, manufacturing and sale of two-and three-wheeled electric vehicles, intelligent robots, complemented by electric vehicle accessories including batteries, charging piles and electronic control system. For additional information, please visit EZGO's website at www.ezgotech.com.cn. Investors can visit the "Investor Relations" section of EZGO's website at www.ezgotech.com.cn/Investor.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the short-distance transportation solutions market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the "SEC"), including the Company's most recently filed Annual Report on Form 20-F and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

 

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SOURCE EZGO Technologies Ltd.

FAQ

What is the effective date of EZGO's 1-for-25 reverse split (EZGO)?

The reverse split is effective and will trade on a post-split basis on November 21, 2025.

How many EZGO shares will be outstanding after the 25-for-1 reverse split?

EZGO's issued and outstanding shares will be reduced from 21,700,706 to approximately 868,029.

Will EZGO shareholders receive fractional shares after the reverse split?

No fractional shares will be issued; fractional entitlements will be rounded up to the nearest whole share.

Why did EZGO implement the reverse split (Nasdaq: EZGO)?

The company said the reverse split is intended to increase the market price per share to allow maintenance of its Nasdaq listing.

Will EZGO's ticker or CUSIP change after the reverse split?

EZGO will continue to trade under ticker EZGO with a new CUSIP number G5279F201.

Who is the exchange agent for EZGO's reverse share split and how to contact them?

VStock Transfer, LLC is acting as the exchange agent; contact (212) 828-8436 for certificate adjustments.