23. SUBSEQUENT EVENTS 

On June 12, 2026, the Company through its wholly-owned subsidiary, Future Commercial Group Limited (the “Buyer”), entered into a Share Purchase Agreement (the “SPA”) with Zhang Shuge (the “Seller”). Pursuant to the SPA, the Buyer agreed to acquire from the Seller a 20% equity interest in Xi’an Changshida Information Technology Co., Ltd. (“Changshida”), a company organized under the laws of the PRC. Changshida is committed to implementing artificial intelligence technologies in practical application scenarios across the healthcare and smart city sectors. The aggregate purchase price for the acquisition is RMB44,000,000 (approximately $6.46 million), consisting of (i) RMB 40,000,000 payable in cash; and (ii) 123,266 shares of the Company’s common stock, par value $0.001 per share, having an agreed value of RMB4,000,000. The cash consideration and share consideration are payable within ten (10) days following completion of the transfer of the 20% equity interest in Changshida and completion of the applicable registration and filing procedures in the PRC. The transfer of such 20% equity interest was completed on July 3, 2026.

On July 10, 2026, the Company effected a 1-for-4 reverse stock split, reducing its authorized common stock from 150,000,000 shares to 37,500,000 shares. Authorized preferred shares remain at 10,000,000. Fractional shares were rounded up, and no cash or other consideration was paid for fractional interests. See Note 1.

On July 29, 2026, the Company entered into Securities Purchase Agreements with certain purchasers named therein (collectively, the “Purchasers”), pursuant to which the Company agreed to issue and sell to the Purchasers, and the Purchasers agreed to purchase from the Company, an aggregate of 30,000,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a purchase price of $1.00 per share, for aggregate gross proceeds to the Company of $30,000,000 (the “Offering”). Wealth Index Capital Limited (“WICL”), which purchased 10,000,000 of the Shares, is wholly owned and controlled by Mr. Shanchun Huang, its sole member. Mr. Huang is the Company’s controlling shareholder and served as the Company’s Chief Executive Officer from 2020 to August 2024. Prior to the Offering, WICL beneficially owned approximately 27.0% of the Company’s outstanding Common Stock, and immediately following the Offering WICL beneficially owns approximately 32.9% of the outstanding Common Stock.

The Company has evaluated subsequent events through the date of the issuance of the unaudited condensed consolidated financial statements and did not identify any subsequent events except those disclosed above that would have required adjustment or disclosure in the financial statements.