BEIJING, March 6, 2026 /PRNewswire/ -- Elong Power Holding Limited (NASDAQ: ELPW) (the "Company"), a provider of high power battery technologies for commercial and specialty alternative energy vehicles and energy storage systems, today announced a share consolidation of the Company's issued and outstanding Class A ordinary shares and Class B ordinary shares at a ratio of 1 for 80 shares (the "Reverse Split"), which will take effect at the open of The Nasdaq Stock Market ("Nasdaq") on March 10, 2026.

On January 6, 2026, the Company held an extraordinary general meeting of the shareholders, and the shareholders approved to implement share consolidations of the Company's Class A ordinary shares and Class B ordinary shares at any one time or multiple times, at the exact consolidation ratio and effective time as the Board may determine from time to time in its absolute discretion, provided that the accumulative consolidation ratio for all such share consolidations shall not be more than 4000:1, and authorized the Board to implement such share consolidations at any time during a period of up to two years of the date of the meeting. On March 5, 2026, the board approved implementation of the Reverse Split at a ratio of 1 for 80 shares.

The objective of the Reverse Split is to enable the Company to maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), which requires issuers listed on Nasdaq to maintain a closing bid price of greater than $0.10.

Upon the open of trading on March 10, 2026, the ...