Recently, Intelligent Future Limited (hereinafter referred to as "Intelligent Future") (NASDAQ stock code: AIFU) announced that it has signed a share swap agreement with Bomei Group (NASDAQ stock code: BGM).
According to the agreement, Intelligent Future will transfer its intelligent platforms, Rongshu Intelligent Technology (Beijing) Co., Ltd. ("Rongshu Technology") and Shenzhen Xinbao Investment Management Co., Ltd. ("Xinbao Investment"), valued at approximately $140 million, to Bomei Group. Intelligent Future will exchange 69.9957 million Class A common shares of Bomei Group for a valuation of $2 per share.
This transaction is expected to be completed by the end of 2024. After the transaction is completed, Intelligent Future will hold approximately 72% of the equity and 3.4% of the voting rights of Bomei Group, while Bomei Group will fully hold Rongshu Technology and Xinbao Investment.
Intelligent Future CEO Hu Yinan said, "Intelligence is the future of the insurance industry. Our intelligent platform has shown great potential in the insurance industry, but to achieve broader development, we need a more open industry perspective and ecological support. This cooperation with Bomei Group will not only enable the intelligent platform to serve a wider user base, but also promote the release of greater potential of AI technology in fields outside the insurance industry
It is reported that Rongshu Technology and Xinbao Investment will gain broader development space in this transaction. The vast resources of Bomei Group in the medical industry will bring more application scenarios for their products and services, thereby further unleashing their development potential. The intelligent future will indirectly participate in the value creation of Rongshu Technology and Xinbao Investment by holding shares in Bomei Group, ensuring that shareholders continue to share its future value growth.
This transaction will also accelerate the layout of intelligent future in the field of medicine and health, fully grasp the development opportunities brought by population aging and silver haired economy, and inject new impetus into the company's future performance growth.
It is understood that Intelligent Future was originally a subsidiary of Pan China Holdings Group and one of the first insurance intermediary groups in China. On October 23rd of this year, Pan China Holdings Group changed its stock code from "FANH" to "AIFU". On November 1st, the company's Chinese and English names were all changed, with the Chinese name changed from "Pan China Holdings Group" to "Intelligent Future Co., Ltd.