Jianzhi Education to implement ADS ratio change

Jianzhi Education (JZ)plans to change the ratio of its ADSs from current one ADS representing six ordinary shares to one ADS representing 60 ordinary shares. The ADS Ratio Change is expected to become effective at the beginning of trading on or about June 16, U.S. Eastern Time. For Jianzhi’s ADS holders, the ADS ratio change will have the same effect as a one-for-ten reverse ADS split. Each ADS holder of record on the Effective Date will be required to surrender and exchange every 10 existing ADSs then held for one new ADS. The ADS ratio change will reduce the number of outstanding ADSs of the company from 7,716,666 to approximately 771,666. Jianzhi’s ADSs will continue to be traded on the Nasdaq Stock Exchange under the symbol “JZ” and a new CUSIP number 47737L302 has been assigned as a result of the ADS ratio change. The ADS Ratio Change will have no impact on Jianzhi’s underlying ordinary shares, and no ordinary shares will be issued or canceled in connection with the ADS ratio change. As a result of the ADS Ratio Change, Jianzhi’s ADS trading price is expected to increase proportionally.