Data-service-anchored.
Data-service feed, fetched today. The number TradingView and most screeners show.
Your screener overstates the float. Trade off 370.1K shares.
The float your screener shows is overstated 16.0×: 5.92M reported, 370.1K actual. 1 convertible note and 2 reverse splits can add another 3,371% of the float.
Pending all-stock acquisition consideration — 34x the float. Two Supplemental Agreements dated 2026-09-09 commit Yimutian to issue 73,799,424,000 Class A ordinary shares — 12,299,904 ADSs at the current 1:6,000 ratio — as consideration for the Qingdao Xingongg…
Variable-rate convertible note with resettable floor (death-spiral structure). The US$10,000,000 senior convertible promissory note facility from the 2025-12-08 SPA carries a floating conversion price.
Serial reverse splits / ADS ratio resets — 240x in four months. Two reverse-split-equivalent ADS ratio changes occurred within four months: 1-for-15 effective 2026-05-18 and 1-for-16 effective 2026-08-27 (ratio moved 375 to 6,000 Class A ordinary shares per ADS).
From today's float to the ceiling
sharesCeiling computed from the itemised overhang.
Where the shares come from
each subtotal is a rung on the ladder above
Not counted anywhere: ATM and shelf capacity. Convertible share counts use stated conversion prices.
Engine fully-diluted count left too much unexplained; ceiling computed from the itemised overhang.
See the full breakdown
Red flags, financing counterparties, the deal timeline, and every SEC filing — free with an account.
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Market data as of Sep 29, 2026
Key dates
- Oct 21, 2026 · Approximate deadline for issuance of acquisition consideration shares — 30 business days from the 2026-09-09 Supplemental Agreements (12,299,904 ADSs / 73,799,…
- Nov 9, 2026 · Nasdaq MVLS compliance deadline (US$50,000,000 requirement) — failure invites another ratio change or a large issuance to close the gap