Cimg Inc. sees significant stock acquisition by Dada Business Trading

Dada Business Trading Co., Ltd., a significant stakeholder in CIMG Inc. (NASDAQ:IMG), has acquired a substantial number of shares, according to a recent SEC filing. The transaction comes as CIMG’s stock trades near $0.51, down over 63% in the past year, according to InvestingPro data. On March 18, 2025, Dada Business Trading purchased 2,529,236 shares of CIMG Inc. at a price of $0.52 per share, amounting to a total transaction value of approximately $1,315,202.

This acquisition increases Dada Business Trading’s holdings in CIMG Inc., reinforcing its position as a major shareholder. The transaction was conducted under the leadership of Zheng Dai, who is the sole director of Dada Business Trading Co., Ltd. and holds voting and investment discretion over the shares.

In addition to the direct purchase, Dada Business Trading also exercised warrants previously acquired on January 17, 2025, converting them into 3,333,333 shares of common stock at an exercise price of $0.39 per share. Following these transactions, the total shares owned by Dada Business Trading Co., Ltd. in CIMG Inc. now stand at 6,739,761.

These moves by Dada Business Trading Co., Ltd. highlight its continued confidence in the prospects of CIMG Inc., a company engaged in miscellaneous retail operations. The transactions were signed off by Yubo Yang, the sole shareholder of Dada Business Trading Co., Ltd., and Zheng Dai on April 3, 2025.

In other recent news, CIMG Inc. has entered into an agreement to acquire a 51% equity interest in Shanghai Huomao Cultural Development Co., Ltd. The transaction includes the issuance of 200,000 shares of CIMG’s common stock and is expected to close shortly. Additionally, CIMG has successfully completed a $10 million private placement deal, issuing convertible notes and warrants to non-U.S. investors. These notes carry an annual interest rate of 7% and are set to mature in one year, pending shareholder approval for conversion into common stock.

In a strategic move, CIMG has appointed Assentsure PAC as its new independent registered public accounting firm, replacing MaloneBailey, LLP. This change follows a decision by the company’s Audit Committee and involves no disagreements or reportable events. Meanwhile, CIMG faces a potential Nasdaq delisting due to non-compliance with the minimum bid price requirement and a delayed annual report filing. The company has been given 180 days to address these issues.

Furthermore, CIMG has announced the resignation of Jian Liu from its Board of Directors, effective immediately. Liu’s departure leaves a vacancy on the board and its associated committees, though CIMG has not yet disclosed plans for a successor. These developments come amid ongoing business and management restructuring efforts within the company.

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