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Yimutian (NASDAQ: YMT) updates ADS ratio and adds 200M ADS facility

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Yimutian Inc. is adjusting its U.S.-traded securities structure and ADS capacity. The company plans to change the ratio of its American Depositary Shares (ADSs) so that each ADS will represent 375 Class A ordinary shares instead of 25, effective on or around May 18, 2026. For ADS holders, this functions like a 15-for-1 reverse split, requiring every 15 existing ADSs to be surrendered for one new ADS, with cash paid in lieu of fractional ADSs. The change does not alter the number of underlying Class A ordinary shares, and none will be issued or cancelled.

Separately, Yimutian has filed a Form F-6 to increase its registered ADS facility by 200 million additional ADSs. These ADSs are registered to support future issuances upon deposit of ordinary shares, including for ongoing and potential acquisitions and other strategic projects, and do not by themselves constitute an offering or cause immediate dilution to shareholders.

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Insights

Yimutian restructures ADS ratio and expands ADS capacity without immediate dilution.

Yimutian is implementing a 15-for-1 effective reverse split at the ADS level by changing each ADS to represent 375 Class A ordinary shares instead of 25. This consolidates ADSs but leaves the underlying ordinary share count unchanged.

The company also registered 200 million additional ADSs on Form F-6, mainly to support issuances when ordinary shares are deposited, including in acquisitions and strategic projects. Because this step is purely a registration and not an active sale, it has no immediate dilutive effect; actual impact depends on future ADS issuances tied to corporate actions.

New ADS ratio 1 ADS = 375 Class A ordinary shares ADS Ratio Change effective on or around May 18, 2026
Current ADS ratio 1 ADS = 25 Class A ordinary shares Ratio before the announced ADS Ratio Change
Effective reverse split 15-for-1 at ADS level Every 15 existing ADSs exchanged for 1 new ADS
Additional registered ADSs 200 million ADSs Increase in registered ADS facility via Form F-6
American Depositary Shares financial
"it plans to change the ratio of its American Depositary Shares (“ADSs”) to its Class A ordinary shares"
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
ADS Ratio Change financial
"the ADS Ratio Change from the current ratio of one ADS representing 25 Class A ordinary shares to 375 Class A ordinary shares"
An ads ratio change is an adjustment to how many American Depositary Shares (ADS) represent one unit of a foreign company’s ordinary shares — like changing whether a cake is cut into 2 or 10 slices. Investors care because it alters the number of tradable ADS, the implied price per ADS and an investor’s ownership stake, which can affect liquidity, perceived value and comparisons of holdings across markets.
reverse split financial
"For the Company’s ADS holders, the ADS Ratio Change will have the same effect as a 15-for-1 reverse split."
A reverse split is when a company reduces the number of its outstanding shares by combining several existing shares into one new share, so the price per share rises proportionally while the company’s overall value stays the same. Investors care because it can make a stock appear more respectable or meet exchange rules — like turning many small coins into a single larger bill — but it can also signal financial trouble and often affects trading liquidity and investor perception.
Form F-6 regulatory
"announced that it has filed a registration statement on Form F-6 to increase the registered American Depositary Shares"
Form F-6 is an SEC registration form used when a U.S. depositary bank creates American Depositary Receipts (ADRs), which are certificates that let U.S. investors buy and sell shares of a foreign company as if they were domestic stocks. Think of an ADR as a local-language label placed on a foreign product: it makes the foreign share easier to trade and settle in U.S. markets, increasing accessibility, liquidity and investor choice while bringing certain U.S. disclosure and regulatory oversight.
registered ADS facility financial
"Increased Registered ADS Facility by 200 Million Additional ADSs"

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 6-K

 

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of May 2026

 

Commission File Number: 001-42760

 

 

 

Yimutian Inc.

(Registrant’s Name)

 

 

 

6/F, Building B-6, Block A Zhongguancun
Dongsheng Technology Campus No. 66
Xixiaokou Road
Haidian District, Beijing 100192
The People’s Republic of China

(Address of Principal Executive Offices)

 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F ☒      Form 40-F ☐

 

 

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press Release—Yimutian Inc. Announces Plan to Implement Change in American Depositary Shares (ADS) to Ordinary Share Ratio
99.2   Press Release—Yimutian Inc. Increased Registered ADS Facility by 200 Million Additional ADSs

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Yimutian Inc.
     
  By /s/ Shijie Chen
  Name Shijie Chen
  Title: Director and Chief Financial Officer

 

Date: May 1, 2026

 

2

 

Exhibit 99.1

 

Yimutian Inc. Announces Plan to Implement Change in American Depositary Shares (ADS) to Ordinary Share Ratio

 

BEIJING, April 29, 2026 -- Yimutian Inc. (NASDAQ: YMT) (“Yimutian” or the “Company”), a leading agricultural digital service company in China, today announced that it plans to change the ratio of its American Depositary Shares (“ADSs”) to its Class A ordinary shares (the “ADS Ratio Change”) from the current ratio of one ADS representing 25 Class A ordinary shares to 375 Class A ordinary shares, effective on or around May 18, 2026, U.S. Eastern time (the “Effective Date”).

 

For the Company’s ADS holders, the ADS Ratio Change will have the same effect as a 15-for-1 reverse split. Upon the Effective Date, ADS holders will be required to surrender and exchange every 15 existing ADSs then held for one new ADS. JPMorgan Chase Bank, N.A., as the depositary bank for the Company´s ADS program, will arrange for the exchange. The Company´s ADSs will continue to be traded on the Nasdaq under the ticker symbol “YMT.”

 

No fractional new ADSs will be issued in connection with the ADS Ratio Change. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes, and expenses, where applicable) will be distributed to the applicable ADS holders by the depositary bank. The ADS Ratio Change will have no impact on the Company´s underlying Class A ordinary shares, and no ordinary shares will be issued or cancelled in connection with the ADS Ratio Change.

 

As a result of the ADS Ratio Change, the ADS trading price is expected to increase proportionately upon the effectiveness of the ADS Ratio Change, although the Company can give no assurance that the ADS trading price after the ADS Ratio Change will be equal to or greater than 15 times the ADS trading price before the change.

 

About Yimutian Inc.

 

Yimutian Inc, is a leading agricultural B2B platform in mainland China. Over a decade, the company has been dedicated to digitalizing China’s agricultural product supply chain infrastructure to streamline the agricultural product transaction process, and making it efficient, transparent, secure, and convenient.For more information, please visit https://ir.ymt.com/

 

Forward-Looking Statements

 

This press release contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, these forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

 

Investor & Media Contacts

 

Investor Relations: ir@ymt360.com  |  +86 10 5708 6561

 

Media: pr@ymt360.com

 

Exhibit 99.2

 

Yimutian Inc. Increased Registered ADS Facility by 200 Million Additional ADSs

 

Beijing, April 30, 2026–Yimutian Inc. (NASDAQ: YMT) (“Yimutian” or the “Company”), a leading agricultural digital service company in China, today announced that it has filed a registration statement on Form F-6 to increase the registered American Depositary Shares (“ADSs”) facility by 200 million additional ADSs. The registered ADSs are primarily intended to facilitate the issuance of ADSs from time to time upon deposit of the Company’s ordinary shares, including in connection with ongoing and potential future acquisitions, as well as other potential strategic projects. This filing relates solely to the registration of ADSs and does not involve any offering or sale of securities at this time. The registration of these ADSs does not have any immediate dilutive effect on the Company’s shareholders.

 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

About Yimutian Inc.

 

Yimutian Inc, is a leading agricultural B2B platform in mainland China. Over a decade, the company has been dedicated to digitalizing China’s agricultural product supply chain infrastructure to streamline the agricultural product transaction process, and making it efficient, transparent, secure, and convenient. For more information, please visit https://ir.ymt.com/

 

Forward-Looking Statements

 

This press release contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, these forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

 

Investor & Media Contacts

 

Investor Relations: ir@ymt360.com  |  +86 10 5708 6561

 

Media: pr@ymt360.com

 

FAQ

What ADS ratio change did Yimutian Inc. (YMT) announce?

Yimutian will change each American Depositary Share from representing 25 Class A ordinary shares to 375. For ADS holders, this works like a 15-for-1 reverse split, consolidating every 15 existing ADSs into one new ADS while keeping the underlying ordinary share count unchanged.

How will Yimutian’s ADS ratio change affect existing YMT ADS holders?

ADS holders must surrender every 15 existing ADSs for one new ADS once the change takes effect. No fractional ADSs will be issued; instead, fractional entitlements are aggregated and sold, with net cash proceeds (after fees and taxes) distributed by the depositary bank to affected holders.

Does Yimutian’s ADS ratio change impact its Class A ordinary shares?

The ADS ratio change does not affect Yimutian’s underlying Class A ordinary shares. The company states that no ordinary shares will be issued or cancelled, so the adjustment is purely at the ADS level, altering how many ordinary shares each ADS represents, not the total share capital.

When will Yimutian’s new ADS-to-ordinary-share ratio become effective?

The new ADS-to-ordinary-share ratio is expected to take effect on or around May 18, 2026, U.S. Eastern time. After that date, JPMorgan Chase Bank, as depositary, will handle exchanging existing ADSs for new ones under the 15-for-1 effective consolidation mechanics outlined by the company.

What is Yimutian’s new registered ADS facility size increase?

Yimutian has filed a Form F-6 to increase its registered American Depositary Share facility by 200 million additional ADSs. These registered ADSs are intended to support future issuances upon deposit of ordinary shares, particularly for ongoing and potential acquisitions and other strategic corporate projects.

Does the new Yimutian ADS registration cause immediate dilution for shareholders?

The company states that increasing the registered ADS facility by 200 million ADSs has no immediate dilutive effect. This step only registers ADSs for possible future use and involves no current offering or sale of securities, so ownership percentages remain unchanged at this stage.

Will Yimutian’s ADS still trade under the same Nasdaq ticker after these changes?

Yes. Yimutian’s ADSs will continue trading on the Nasdaq under the ticker symbol “YMT” after the ADS ratio change. Only the ADS-to-ordinary-share ratio and resulting ADS count per holder will adjust; the trading venue and ticker symbol remain the same according to the company’s announcement.

Filing Exhibits & Attachments

2 documents