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The latest announcement is out from Addentax Group ( (ATXG) ).
On May 15, 2026, Addentax Group Corp. agreed a related-party share exchange in which its Hong Kong subsidiary Yingxi Industrial Chain Investment Co., Ltd. will acquire a 41.67% stake in Hong Kong-based Riches Family Office Limited from Riches FO Holdings Limited, wholly owned by Addentax chief operating officer Wu Rui. In consideration, Addentax will issue 33,500 common shares to Wu, with the valuation benchmarked to a May 13, 2026 report on Riches Elite Technology (Shenzhen) Co., Ltd., and the deal, approved by the audit committee and board, is subject to Nasdaq notification, customary closing conditions and offshore issuance under Regulation S.
The transaction underscores Addentax’s strategy of consolidating control over its principal operating asset in Shenzhen via a structured share swap that deepens its exposure to Riches Elite Technology. While the share issuance modestly dilutes existing shareholders, it aligns management and ownership interests by compensating the COO in stock, and may strengthen the group’s Asian technology portfolio once regulatory and listing-related conditions for closing are fulfilled.
More about Addentax Group
Addentax Group Corp. is a Nevada-incorporated company that operates through subsidiaries in Hong Kong and mainland China, with interests that include industrial chain investments and technology operations. Its structure includes Yingxi Industrial Chain Investment Co., Ltd. and Riches Elite Technology (Shenzhen) Co., Ltd., reflecting a focus on cross-border corporate holdings in Asia.
Average Trading Volume: 130,454
Technical Sentiment Signal: Strong Sell
Current Market Cap: $3.33M
See more data about ATXG stock on TipRanks’ Stock Analysis page.