Core Viewpoint - Qingmu Technology (301110) is expanding its business through a significant acquisition, aiming to enhance its brand incubation and management strategy in the health and wellness sector [1][4]. Group 1: Acquisition Details - Qingmu Technology's subsidiary, Qingmu Singapore, signed a share purchase and subscription agreement to acquire 49.07% of the target company's shares from Norsund for 150 million Norwegian Krone (approximately 106 million RMB) and to subscribe for an additional 32.92% of new shares for the same amount [1]. - After the completion of this transaction, Qingmu Singapore will hold a total of 65.83% of the target company, becoming its controlling shareholder, and the target company will be included in Qingmu's consolidated financial statements [1]. Group 2: Business Model and Services - Qingmu Technology provides comprehensive e-commerce services, including e-commerce operation, channel distribution, and retail services, catering to well-known domestic and international brands [1][2]. - The company has established a complete e-commerce ecosystem, collaborating with major platforms such as Tmall, JD.com, Douyin, Xiaohongshu, and Vipshop, and offers a full range of services from traditional e-commerce operations to digital marketing and consumer engagement [2]. Group 3: Growth Strategy - The brand incubation and management business is identified as the company's second growth curve, with a focus on health consumer products. The company plans to invest more in this area and introduce overseas quality brands through various methods, including joint ventures and acquisitions [3]. - The company reported significant revenue growth for its incubated brands, with Cumlaude Lab and ZUCCARI achieving over 70% and 95% year-on-year growth, respectively, in the first half of 2025 [3]. Group 4: Future Outlook - The acquisition aims to strengthen the company's capabilities in brand management, research and development, production, and supply chain management in the health supplement sector, enhancing its competitive edge [4]. - Qingmu Technology aspires to become a "data and technology-driven retail service expert," focusing on the application of new technologies like AI to improve operational efficiency [3].