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YY Tech Inc has increased its investment in CIMG Inc (NASDAQ:IMG) by acquiring a significant amount of common stock, according to a recent SEC filing. The transaction, dated March 18, 2025, involved the purchase of 3,074,590 shares at a price of $0.52 per share, amounting to a total of approximately $1.6 million. According to InvestingPro data, CIMG currently trades at $0.51, with a market capitalization of approximately $5 million. The company’s financial health score is rated as WEAK, though it maintains more cash than debt on its balance sheet.
The filing indicates that the shares were acquired directly by YY Tech Inc, with Liu Yujie, who holds a 100% indirect ownership of YY Tech Inc, as the sole director. Following this transaction, the total shares owned by YY Tech Inc in CIMG Inc stand at 7,125,872. Despite the stock’s significant volatility and 63% decline over the past year, analysts project 97% revenue growth for the current fiscal year.
Additionally, the filing disclosed a derivative transaction involving the exercise of warrants, which resulted in the acquisition of 4,756,410 shares at a price of $0.39 per share. These transactions highlight YY Tech Inc’s ongoing interest in CIMG Inc as part of its investment strategy.
In other recent news, CIMG Inc. has announced a significant transaction involving the acquisition of a 51% equity interest in Shanghai Huomao Cultural Development Co., Ltd. This strategic move, which involves issuing 200,000 shares of CIMG’s common stock, aims to integrate Huomao’s operations into CIMG’s business framework. Additionally, CIMG has successfully completed a private placement, raising $10 million through the issuance of convertible notes and warrants to non-U.S. investors. This capital injection is expected to bolster the company’s working capital. In a separate development, CIMG has appointed Assentsure PAC as its new independent registered public accounting firm, replacing MaloneBailey, LLP. This change was made without any disagreements impacting previous audit reports.
Furthermore, CIMG faces potential delisting from Nasdaq 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. In corporate governance news, Jian Liu has resigned from CIMG’s Board of Directors, leaving vacancies on several committees. CIMG has not yet announced a successor for Liu’s positions. These developments highlight a period of significant change and strategic realignment for CIMG Inc.
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