MicroAlgo Completes Reverse Stock Split and Nasdaq Market Transition

Shareholder Vote Approves 1-for-10 Reverse Split

MLGO Ordinary Shares Now Trading Under Ticker Symbol "WEB"

PR Newswire, 2023-02-13 - MicroAlgo Inc. (MLGO) today announced the successful completion of its Extraordinary General Meeting (EGM) and the subsequent implementation of a one-for-ten (1-10) reverse split of its Ordinary Shares. The reverse stock split was approved by shareholders at the EGM held on January 20, 2023.

As a result of the reverse split, MLGO's Ordinary Shares will now begin trading on The Nasdaq Capital Market under the ticker symbol "WEB." The reverse split is intended to enhance the liquidity of MLGO's shares and increase their attractiveness to institutional investors.

"We are pleased to have completed this reverse split, which is a significant milestone in our company's growth," said Michael Wang, CEO of MLGO. "This action will allow us to continue to build upon our momentum and execute on our strategic initiatives."

MLGO is a leading provider of artificial intelligence (AI) solutions for the healthcare industry. The company's AI-powered platform enables healthcare providers to improve patient outcomes, reduce costs, and streamline operations.

About MicroAlgo Inc.

MicroAlgo Inc. is a leading provider of artificial intelligence (AI) solutions for the healthcare industry. The company's AI-powered platform enables healthcare providers to improve patient outcomes, reduce costs, and streamline operations. MicroAlgo is headquartered in San Francisco, California.