Acquisition Details - Powerbridge Technologies acquired an additional 65% equity interest in Boxinrui for approximately US$25.8 million, bringing its total ownership to 100%[6]. - Prior to the acquisition, Powerbridge held a 35% equity interest in Boxinrui from previous acquisitions of 15% and 20%[5]. Company Overview - Boxinrui wholly owns Anxin Jieda, which holds a 90% equity interest in AIedu, an AI education company with over 400,000 users and 20,000 reading materials[7][8]. - AIedu serves over 4,000 nurseries and kindergartens, providing innovative early childhood education through AI technology[8]. Strategic Alignment - The acquisition of Boxinrui aligns with Powerbridge's metaverse strategy, utilizing AIedu's technology to expand its operations in the metaverse[7].
X3 Holdings(XTKG) - 2023 Q1 - Quarterly Report