Coolpad Group (HKG:2369) has proposed capital reorganization, involving a share consolidation, capital reduction, and share sub-division, according to its bourse filing on Wednesday.

The share consolidation will consolidate every forty existing shares into one consolidated share.

Following this, the par value of each consolidated share will be reduced, and the authorized but unissued consolidated shares will be sub-divided into four new shares.

The company will also amend its articles of association to align with new listing rules and incorporate other changes.

These actions are subject to shareholder approval at the upcoming Annual General Meeting.