M&A - Hongchang International Co., Ltd

Form Type: 10-K

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: Update

Accession Number: 000101376225004096

Filing Summary: Hongchang International Co., Ltd, a Nevada holding company, reported its acquisition of Hongchang Global Investment Holdings Limited on August 21, 2023. This acquisition, referred to as the Hongchang Acquisition, involved the exchange of shares where the Selling Stockholders received a total of 415,582,375 new shares of the Company’s common stock for their 100% equity interest in Hongchang BVI. Furthermore, the Company has recently disposed of its existing business assets, including its stake in HP TECHNOLOGY LIMITED, to its director, Mr. Ban Siong Ang, for nominal consideration. This change comes alongside the Company’s name change from Heyu Biological Technology Corporation to Hongchang International Co., Ltd, which was effective as of November 28, 2023, alongside a ticker symbol change from HYBT to HCIL. The report details ongoing regulatory risks and compliance challenges for the Company due to operations in mainland China, including regulatory influence and the implications of the Holding Foreign Companies Accountable Act on trading in its shares.

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