- CHENGDU, China, April 28, 2025 (PRNewswire) -- BGM Group Ltd. (NASDAQ: BGM) (the “Company” or BGM) today announced the completion of its acquisition of YX Management Company Ltd. (“YX”), an leading intelligent mobility technology platform, on April 25, 2025. As previously disclosed, BGM acquired 100% of YX by issuing 47.5 million Class A ordinary shares to YX’s existing shareholders, representing a valuation of US$95.0 million. Upon completion of the acquisition, YX’s shareholders collectively own approximately 32.6% of BGM’s equity interests and approximately 2.2% of the total voting power.
- This acquisition represents a significant step in BGM’s AI-driven transformation, enhancing its capabilities in large-scale operations, digital infrastructure, and commercializing cutting-edge technologies. YX’s expertise in business model optimization, rapid technology iteration, and cross-industry resource integration will strengthen BGM’s intelligent platform. With the completion of this acquisition, BGM will further accelerate the deep integration of AI into its core businesses across intelligent insurance, intelligent mobility, and digital services, continuously expanding the scope and commercial potential of its intelligent platform.
- Mr. Chen Xin, Chief Executive Officer of BGM, stated:“The successful completion of this transaction marks an important milestone in our AI strategy. By integrating YX’s technological expertise and industry resources, we will further accelerate the application of AI across key sectors such as insurance and mobility, advancing our core businesses toward an AI Agent-driven model. We believe AI-powered innovation and strategic execution will fuel BGM’s long-term growth, delivering sustained value to shareholders, customers, and partners."
