Corporate ActionJun 29, 2026, 03:51 PM
Addentax Acquires Keemo Fashion Group; Completes 1-for-15 Reverse Split
AI Summary
Addentax Group Corp. completed the acquisition of Keemo Fashion Group Limited (KMFG) for approximately $5.5 million on March 30, 2026, expanding its operations into apparel trading and digital publishing. The company also executed a 1-for-15 reverse stock split on March 19, 2026. Additionally, Addentax divested its property management and subleasing business in June 2025 and a garment manufacturing business in May 2025, streamlining its focus. The company continues to operate as a Nevada holding company with substantial operations in the People's Republic of China.
Key Highlights
- Acquired Keemo Fashion Group Limited (KMFG) for $5.5 million on March 30, 2026.
- KMFG operates apparel trading and digital publishing businesses.
- Completed a 1-for-15 reverse stock split on March 19, 2026.
- Disposed of property management and subleasing business on June 30, 2025.
- Disposed of a garment manufacturing business on May 6, 2025.
- Four customers contributed 21.0%, 13.7%, 12.4%, and 10.6% of FY26 revenue.
- Two suppliers accounted for 13.3% and 10.5% of FY26 total cost.
- Company is a Nevada holding company with primary operations in the PRC.
Price Impact
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