On June 15, Capital State learned that TDH Holdings Inc, a US-listed company, announced that it had implemented a share consolidation on June 14, with every 20 common shares merged into one share. The purpose of the merger is to enable the company to re-comply with Nasdaq Market Rule 5550 (a) (2) and to maintain its listing on NASDAQ.

The board of directors of the company has approved the implementation of stock merger and revised the company memorandum and articles of association. After the share merger takes effect, every 20 issued and tradable common shares of the company will be automatically converted into 1 issued and tradable common stock. As a result of the share consolidation, the number of common shares issued and outstanding by the company has decreased from about 126 million shares to about 6.31 million shares.

截至美东时间6月14日收盘，天地荟报2.19美元，跌22.78%。