---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-23-000357"
form_type: "8-K"
ticker: "CNET"
cik: "0001376321"
company_name: "ZW Data Action Technologies Inc."
filed_at: "2023-01-20T23:59:59+00:00"
generated_at: "2026-06-20T12:19:07.952578+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# ZW Data enacts 1-for-5 reverse stock split to regain Nasdaq compliance

## Summary
- Reverse stock split at ratio 1-for-5 effective January 18, 2023; trading on split-adjusted basis begins January 20.
- Authorized shares reduced from 100M to 20M; issued and outstanding shares decreased proportionally.
- Fractional shares rounded up to nearest whole share; no cash consideration paid.
- Split aimed at achieving $1.00 minimum bid price for continued Nasdaq listing.
- Stockholders holding shares in electronic form need not take any action; paper certificates may be exchanged.

## SEC filing metadata
- accession: 0001171843-23-000357
- form_type: 8-K
- ticker: CNET
- cik: 0001376321
- company_name: ZW Data Action Technologies Inc.
- filed_at: 2023-01-20T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1376321/000117184323000357/0001171843-23-000357-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1376321/000117184323000357/f8k_012023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-23-000357
- JSON: https://secwatch.observer/filing/0001171843-23-000357.json
- Plain text: https://secwatch.observer/filing/0001171843-23-000357.txt

## Key facts
- Governance Changes
  ZW Data Action Technologies Inc.: Approved a 1-for-5 reverse stock split of Common Stock, reducing authorized shares from 100,000,000 to 20,000,000, effective January 18, 2023 (effective 2023-01-18).
  - Change: charter amendment
  - Effective: 2023-01-18
  source text: The Reverse Stock Split became effective on January 18, 2023 (the “Effective Date”), and the shares of Common Stock began trading on the split-adjusted basis on the Nasdaq under the Company’s existing trading symbol “CNET” at market open on January 20, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1376321/000117184323000357/0001171843-23-000357-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.