Meiwu Technology Co Ltd

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.

Meiwu Technology Company Limited completed a private placement, raising approximately $15.65 million in gross proceeds. The company issued 25,000,000 ordinary shares at a purchase price of $0.626 per share to certain purchasers. The funds are primarily intended to support the development of a new skincare management platform utilizing AI and data-analysis technologies, as well as for general corporate purposes and working capital. Both the company and purchasers agreed to 12-month lock-up periods on share transactions.