BGM Group To Acquire HM Management In All-Stock Transaction Valued At About US$41.7M

BGM Group Ltd. (NASDAQ:BGM) (the "Company" or "BGM") , a leading AI technology company, today announced it has entered into a definitive agreement (the "Agreement") to acquire HM Management Company Limited ("HM Management"), a prominent AI agent production platform, in an all-stock transaction valued at approximately RMB300 million (US$41.7 million).

Under the Agreement, BGM will issue 16,663,427 Class A ordinary shares at $2.50 per share to acquire 100% ownership of HM Management and its two wholly-owned subsidiaries: Beijing Shuda Technology Company Limited. ("Shuda Technology") and New Media Star Technology (Shenzhen) Co., Ltd ( "New Media Star"). The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions.

The acquisition expands the Company's AI application portfolio and further integrates existing market resources from its AI insurance and AI mobility businesses, further solidifying the Company's position in the AI industry.