DivestmentJul 9, 2026, 04:18 PM
Meiwu Technology Divests Defunct SMS Subsidiary for $100
AI Summary
Meiwu Technology Co Ltd announced the divestment of its wholly-owned subsidiary, Target Company, for a consideration of US$100. Target Company, through its subsidiaries like Code Beating, previously provided short message services in China but ceased operations in January 2025. The board believes this disposition is in the best interest of the company and its shareholders, as the subsidiary had significant liabilities and losses, and was not expected to generate future value.
Key Highlights
- Meiwu Technology to sell 100% of its shares in Target Company.
- The sale consideration for the shares is US$100.
- Target Company's subsidiaries, including Code Beating, focused on SMS services in China.
- Target Company and its subsidiaries ceased operations in January 2025.
- As of December 31, 2025, Target Company had total assets of approximately US$21.
- Target Company had total liabilities of approximately US$1.4 million.
- Target Company reported total losses of approximately US$1.56 million as of December 31, 2025.
Price Impact
More from WNW