BGM Group Ltd. - BGM STOCK NEWS

BGM Group has acquired Rongshu Technology and Xinbao Investment Company from AIX Corp (AIFU) for $140 million, strengthening its AI-driven insurance business. Under CEO Xin Chen's leadership, the company is transitioning from traditional pharmaceuticals to include AI-powered insurance solutions through the Duxiaobao platform, developed with AIFU and Baidu.

The acquisition makes AIFU a BGM shareholder and positions BGM to expand globally through the Duxiaobao data platform. The company is focusing on dual growth engines: AI insurance brokerage and health/wellness services, particularly targeting the aging population market. BGM's stock showed significant movement with a 13.49% surge on December 2, 2024, though the company remains undervalued according to the release.

BGM Group (NASDAQ: BGM) has strengthened its strategic partnership with Jointown Pharmaceutical Group through a new cooperation agreement focused on licorice fluid extract and Gandixin products. The meeting, led by BGM's Chairman Xin Zhanchang and Jointown's Honorary Vice Chairman Liu Shulin, highlighted the synergies between BGM's R&D capabilities and Jointown's extensive sales network.

The collaboration leverages BGM's subsidiary Qilianshan Pharmaceutical's research and production expertise with Jointown's comprehensive distribution system. Both companies discussed market demand, quality control, and sales channel expansion for licorice-based products, anticipating growing consumer demand for high-quality pharmaceutical products.

AIX Inc. (NASDAQ:AIFU) has completed a strategic asset restructuring worth $140 million, exchanging assets including the Duxiaobao AI insurance platform for a 72% stake in BGM Group. The company reported total revenue of $3.198 billion (up 14.98% YoY) and net profit of $289 million (up 237.25% YoY) as of December 31, 2023. The restructuring combines AIFU's insurance expertise with BGM's pharmaceutical leadership, positioning them in both AI insurance and healthcare sectors. The Duxiaobao platform, built on Baidu's big data capabilities, aims to provide intelligent insurance solutions. With a current market value of $76 million and a P/E ratio of 3.5x, AIFU appears significantly undervalued compared to industry peers.

BGM Group has announced the acquisition of AIX's intelligent platform, valued at 1 billion RMB ($140 million), including subsidiaries RONS Technology and Xinbao Investment. The transaction, expected to complete by end-2024, marks BGM's strategic entry into AI technology and insurance services. RONS Technology specializes in digital solutions for financial and insurance industries, while Xinbao Investment operates 'Baowang', an insurance trading platform offering over 300 products from 30+ insurance companies. This acquisition aims to integrate healthcare, medicine, and insurance services, leveraging BGM's pharmaceutical expertise with AIX's technological capabilities.

BGM Group (NASDAQ: BGM) has announced the acquisition of AIX Inc.'s intelligent platform for 1 billion RMB ($140 million). The acquisition includes AIX's subsidiaries RONS Technology and Xinbao Investment, with completion expected by end of 2024. This strategic move marks BGM's expansion into AI technology and insurance services.

RONS Technology, founded in 2009, specializes in digital solutions for finance and insurance, while Xinbao Investment's 'Baowang' platform offers comprehensive insurance services with over 300 products from 30+ insurance companies. The acquisition aims to integrate healthcare, medicine, and insurance services globally, leveraging RONS Technology's innovations and Xinbao's established market presence.

BGM Group's subsidiary Qilian Pharma hosted an on-site audit from Guilin Pharmaceutical experts on November 19, 2024. The audit aimed to establish future cooperation between the companies. Guilin Pharma, a Fosun Pharma member company, specializes in pharmaceutical development and production with over 200 product varieties. The audit team reviewed Qilian's production facilities, warehouses, and quality testing center, praising their production processes, equipment maintenance, and facility management. Both parties identified improvement areas to enhance product quality and customer service.

Qilian International Holding Group announces its corporate name change to BGM Group , effective October 30, 2024. The company's Class A ordinary shares have already begun trading under the new symbol 'BGM' on the Nasdaq Stock Market since August 11, 2024. The CUSIP number remains unchanged throughout this transition.