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BGM Group Announces Strategic Acquisition of HM Management to Expand AI Application Ecosystem
Prnewswire· 2025-05-02 12:30
CHENGDU, China, May 2, 2025 /PRNewswire/ -- BGM Group Ltd. (Nasdaq: BGM) (the "Company" or "BGM") , a leading AI technology company, today announced it has entered into a definitive agreement (the "Agreement") to acquire HM Management Company Limited ("HM Management"), a prominent AI agent production platform, in an all-stock transaction valued at approximately RMB300 million (US$41.7 million).Under the Agreement, BGM will issue 16,663,427 Class A ordinary shares at $2.50 per share to acquire 100% ownership ...
BGM Completes Acquisition of YX to Advance AI-Powered Intelligent Platform
Prnewswire· 2025-04-28 12:30
Group 1 - BGM Group Ltd. has completed the acquisition of YX Management Company Ltd., enhancing its capabilities in intelligent mobility technology, with a valuation of US$95.0 million [1][2] - Following the acquisition, YX's shareholders own approximately 32.6% of BGM's equity interests and about 2.2% of the total voting power [1] - The acquisition is a significant step in BGM's AI-driven transformation, aimed at integrating AI into its core businesses, including intelligent insurance and digital services [2][3] Group 2 - The CEO of BGM stated that the integration of YX's expertise will accelerate the application of AI across key sectors, advancing towards an AI Agent-driven model [3] - BGM focuses on technology fields such as AI application, intelligent robots, algorithmic computing power, cloud computing, and biopharmaceuticals [4] - The group utilizes advanced analytics and AI Agent technology to provide comprehensive AI solutions for insurance companies, covering various key scenarios [5] Group 3 - In the biopharmaceutical sector, BGM's division produces oxytetracycline API, crude heparin sodium, and licorice preparations, integrating AI-assisted decision-making for supply chain optimization [6]
BGM Acquires YX to Strengthen AI Strategy for Its Intelligent Platform
Prnewswire· 2025-03-19 12:30
Core Viewpoint - BGM Group Ltd. has signed a definitive agreement to acquire 100% of YX Management Company Ltd. for US$95 million, which will enhance BGM's AI-driven platform, DuXiaoBao, and is expected to be completed by June 2025 [1][3]. Group 1: Acquisition Details - BGM will issue 47.5 million class A ordinary shares to acquire YX, valuing the company at US$95 million [1]. - Following the acquisition, YX's shareholders will hold approximately 32.8% of BGM's total outstanding shares and about 2.2% of its voting power [1]. Group 2: YX Team Expertise - The YX team consists of executives and technology experts from major Chinese internet companies like Alibaba and Didi, with experience in large-scale platform development [2]. - Core members have been involved in significant projects such as Taobao Mobile and Didi's ride-hailing services, showcasing their capabilities in digital transformation and AI commercialization [2]. Group 3: Strategic Impact - The integration of the YX team is expected to create a "multiplier effect" through industry breakthroughs and ecosystem synergy, enhancing BGM's leadership in intelligent technology innovation [3]. - The operational experience and strategies of the YX team will position AI as a key driver for BGM's value growth and sustainable returns [3]. Group 4: Company Focus Areas - BGM Group Ltd. focuses on AI applications, intelligent robots, algorithmic computing, cloud computing, and biopharmaceuticals [4]. - The company utilizes big data and AI technologies to provide solutions for insurance companies, covering various scenarios like sales, underwriting, and customer service [5]. - In biopharmaceuticals, BGM produces key products for global markets, integrating AI for supply chain optimization and process efficiency [6].
BGM Group Announces Board Reshuffle: New Leadership Embarks on a Transformative Journey Amid Tech Revolution
Prnewswire· 2025-02-28 13:30
Core Viewpoint - BGM Group Ltd is undergoing a significant leadership transition aimed at enhancing its technological transformation and sustainable growth, with a focus on innovation and strategic upgrades in response to market opportunities and challenges [1][5]. Leadership Changes - Mr. Zhanchang Xin has resigned as Chairman, effective March 1, 2025, and will be succeeded by Mr. Chen Xin, the current CEO [2][3]. - Mr. Chen Xin has extensive experience in market consolidation and corporate management, having led the acquisition of Duxiaobao Intelligent Technology and previously worked in autonomous driving algorithm development [3][4]. - Mr. Lin Zhang has been appointed as an independent director and will chair the compensation committee, bringing rich experience in AI model architecture and deep learning projects [4][5]. Strategic Focus - The company is strategically focused on technology fields including AI applications, intelligent robots, algorithmic computing power, cloud computing, and biopharmaceuticals [6]. - BGM Group utilizes big data mining and AI Agent technology to provide comprehensive AI solutions and intelligent robot services, particularly in the insurance sector [7]. - In biopharmaceuticals, the company produces key products like oxytetracycline API and crude heparin sodium, integrating AI-assisted decision-making to optimize production and supply chain processes [8].