Q&K International Group Limited (QK) shares have dropped -22.33% at $0.29 in Monday’s session. Q&K International stock finished the last trading session at $0.38. The stock recorded a trading volume of 41173.0 shares, which is below the average daily trading volume published for the last 50 days of 0.13 million shares. QK stock is falling after announcing a change in ADS ratio.

What change does QK have made to its ADS?

Q&K International (QK) is the main innovation-driven long-haul condo rental stage in China. QK offers youthful, arising metropolitan occupants strategically placed, prepared to move in, and reasonably marked lofts as well as works with an assortment of significant worth added administrations. Q&K uses progressed IT and versatile innovations to oversee rental lofts in different urban communities in China.

Q&K International today reported that it will change the proportion of the American depositary shares (“ADSs”) addressing its Class-A standard offers. QK will change the proportion from one (1) ADS addressing thirty (30) Class-A standard offer to one (1) ADS addressing one hundred and fifty (150) Class-A normal.

For the QK ADS holders, the adjustment of the ADS proportion will have a similar impact as a one-for-five opposite ADS split.

• There will be no change to the Company’s Class A standard offers.
• The impact of the proportion change on the ADS exchanging cost on Nasdaq is relied upon to occur at the opening of exchanging on March 7, 2022 (U.S. Eastern Time).
• QK ADS holders of record on the compelling date won’t be expected to make any move regarding the ADS proportion change.
• The trading of each five (5) then, at that point held (old) ADSs for one (1) new QK ADS will happen consequently with the then-held ADSs being dropped and new ADSs being given by the depositary bank, for each situation as of the compelling date for the ADS proportion change.
• The ADSs will keep on being exchanged on Nasdaq under the image “QK.”

Changes to board and the executives

• QK in a different explanation reported a few changes in its board too.
• As per those changes, a free Q&K International (QK) chief, Mr. Chen has been delegated as an individual from the choosing and corporate administration panel of the governing body of the Company, viable February 28, 2022.
• Mr. Jiamin Chen, QK’s present senior supervisor of the speculation and financing branch of the Company, has been delegated as a chief and Vice President of the Company, compelling February 28, 2022.
• Mr. Zongquan Yang has been delegated as an overseer of Q&K International (QK), viable February 28, 2022, who has presently been looking the task of the head of the item the executive’s office and ranking director of IT focus of QK.