BGM Group Ltd. Announces Acquisition of Xingdao Intelligent and YD Network to Advance AI Capabilities and Industry Integration

Reuters05-29

BGM Group Ltd. Announces Acquisition of Xingdao Intelligent and YD Network to Advance AI Capabilities and Industry Integration

CHENGDU, China, May 28, 2025 - BGM Group Ltd. $(BGM)$ has announced definitive agreements to acquire Xingdao Intelligent Cloud Chain (Shenzhen) Co., Ltd. and YD Network Technology Company Limited. The acquisition, valued at RMB800 million, will be completed through the issuance of 37,123,142 new Class A ordinary shares of BGM at US$3.0 per share. The transaction is expected to close by the end of June 2025, pending customary conditions. Post-acquisition, the shareholders of the two companies will collectively own about 15.6% of BGM's total shares. According to Chen Xin, CEO of BGM, these acquisitions mark significant advancements in both embodied intelligence and industry-specific AI applications, supporting the company's strategy to enhance its AI productivity platform and expand its industry reach.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. BGM Group Ltd. published the original content used to generate this news brief via PR Newswire (Ref. ID: CN97609) on May 28, 2025, and is solely responsible for the information contained therein.

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