Summary:
- BGM, a company based in Chengdu, China, has acquired Xingdao Intelligent and YD Network.
- The deal involves the issuance of 37,123,142 newly issued Class A ordinary shares of BGM at a price of US$3.0 per share.
- The acquisition of Xingdao Intelligent will enhance BGM’s AI capabilities in the robotics sector, while the acquisition of YD Network will expand its presence in the fintech sector.
Article:
Chengdu, China’s BGM (NASDAQ: BGM) has recently made significant acquisitions, adding Xingdao Intelligent and YD Network to its portfolio. The exact amount of the deal remains undisclosed, but it involves the issuance of 37,123,142 new Class A ordinary shares of BGM at a price of US$3.0 per share. The transactions are expected to be finalized by the end of June 2025, pending standard closing conditions. Upon completion, the shareholders of Xingdao Intelligent and YD Network will collectively possess around 15.6% of BGM’s total outstanding share capital.Xingdao Intelligent specializes in embodied service robots in China, with a focus on developing proprietary robotic hardware systems and foundational algorithms. Their products find application in various industries such as restaurants, retail, hospitals, and more. The acquisition of Xingdao Intelligent is set to bolster BGM’s AI capabilities by merging hardware and software, thereby enhancing real-world applications.
On the other hand, YD Network is dedicated to advancing intelligent stock trading through AI, offering services like stock selection, trading strategy optimization, and risk management. With a successful track record in the U.S. stock and options markets, YD Network’s expertise will empower BGM to expand its AI capabilities into the fintech sector. This move will help BGM establish a cross-industry intelligence ecosystem spanning marketing, labor, and capital markets, opening up new avenues for growth.
In conclusion, BGM’s strategic acquisitions of Xingdao Intelligent and YD Network signify a significant step towards enhancing its AI capabilities in both the robotics and fintech sectors, showcasing its commitment to innovation and growth in the ever-evolving tech landscape.
