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CIMG Inc. (NASDAQ:IMG) reported that on August 1, 2025, its wholly owned subsidiary, Zhongyan Shangyue Technology Co., Ltd., entered into a Business Cooperation Intent Agreement with Shenzhen Zhimeng Qiyang Technology Co., Ltd. According to the agreement, certain shareholders of Shenzhen Zhimeng Qiyang Technology intend to transfer a 51% equity interest in the company to Zhongyan at a total company valuation of RMB13,000,000. The parties plan to complete the transfer within 15 calendar days from the date of the agreement.
Following the signing of the agreement, both parties agreed that Mr. Li Shengqing will be appointed as Chief Executive Officer of Shenzhen Zhimeng Qiyang Technology and will continue to oversee its daily operations. Upon completion of the transfer, Shenzhen Zhimeng Qiyang Technology’s employees will be integrated into CIMG Inc.’s corporate group.
The agreement also establishes a decision-making committee to approve any Shenzhen Zhimeng Qiyang Technology transaction exceeding RMB200,000. The committee will have three members: Ms. Yanli Hou, nominated by Zhongyan; Mr. Li Shengqing; and Mr. Yang Min, nominated by Shenzhen Zhimeng Qiyang Technology.
Additionally, the parties propose that CIMG Inc. will grant incentive shares to Shenzhen Zhimeng Qiyang Technology’s employees based on sales performance after the completion of the transfer. The specific performance criteria and terms for these incentive share grants will be determined in future agreements.
This information is based on a statement made in a press release filed with the Securities and Exchange Commission.
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