GVH · Globavend Holdings Limited

Globavend Holdings Limited, through its subsidiary RISEMIND HOLDINGS (CAYMAN) LIMITED, has signed a definitive share purchase agreement dated May 15, 2026, to acquire 70% of Loomi Entertainment Group Limited, a BVI-incorporated entity with wholly-owned subsidiaries in Hong Kong, Malaysia, and Singapore. The nominal consideration of USD 70 reflects a strategic entry into the fast-growing AI-enabled short-form digital entertainment market, diversifying from its core e-commerce logistics operations in Hong Kong, Australia, and New Zealand. Loomi Group specializes in micro dramas via its 'Loomi: Short Drama' mobile app and proprietary AI platform 'Imaginary' for efficient cinematic production, targeting Southeast Asian audiences with multilingual content.

The transaction is conditional on standard precedents including proof of clear title, regulatory consents, satisfactory due diligence on financials and operations, warranty accuracy, and no material adverse change, with a tight long stop date approximately May 22, 2026. Notably, the vendor Zenith Green Limited is wholly-owned by Tsz Ngo Yu, Globavend's director and CFO, introducing a related-party element. Post-closing, Loomi will become a non-wholly-owned subsidiary, with its results and an existing US$550,000 interest-free shareholder loan consolidated into Globavend's financials. Chairman Kai Man Fung highlighted the deal as a milestone for leveraging AI content creation and short-form video trends to build a diversified tech-entertainment platform, with integration planning underway.