---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-22-062235"
form_type: "8-K"
ticker: "GDC"
cik: "0001641398"
company_name: "GD Culture Group Ltd"
filed_at: "2022-10-05T23:59:59+00:00"
generated_at: "2026-06-23T05:22:50.543627+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Code Chain completes VIE acquisition of Highlight Media; appoints new CEO and VP

## Summary
- Acquired Shanghai Highlight Media via VIE on Sept 29; issued 9M shares at $1.00 each.
- CEO Wei Xu and VP Bibo Lin resigned Oct 4; Hongxiang Yu appointed CEO/Chairman, Shuang Zhang VP.
- New CEO Yu co-founded Highlight Media; salary $50k/yr; VP Zhang salary $30k/yr.
- VIE agreements include exclusive technical services, equity pledge, option, and voting proxy for 20 years.

## SEC filing metadata
- accession: 0001213900-22-062235
- form_type: 8-K
- ticker: GDC
- cik: 0001641398
- company_name: GD Culture Group Ltd
- filed_at: 2022-10-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1641398/000121390022062235/0001213900-22-062235-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1641398/000121390022062235/ea166761-8k_codechain.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-22-062235
- JSON: https://secwatch.observer/filing/0001213900-22-062235.json
- Plain text: https://secwatch.observer/filing/0001213900-22-062235.txt

## Key facts
- Executive change
  Bibo Lin resigned as Vice President and Director at GD Culture Group Ltd.
  - Action: resigned
  - Role: Vice President and Director
  source text: On October 4, 2022, Mr. Bibo Lin tendered his resignation as the Vice President and a director of the Company, effective October 4, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641398/000121390022062235/0001213900-22-062235-index.htm
- Executive change
  Hongxiang Yu was appointed as Chief Executive Officer, President, Chairman of the Board and Director at GD Culture Group Ltd.
  - Action: appointed
  - Role: Chief Executive Officer, President, Chairman of the Board and Director
  source text: Mr. Hongxiang Yu was appointed as the Chief Executive Officer, President, Chairman of the Board and a director of the Company, effective October 4, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641398/000121390022062235/0001213900-22-062235-index.htm
- Executive change
  Wei Xu resigned as Chief Executive Officer, President, Chairman of the Board and Director at GD Culture Group Ltd.
  - Action: resigned
  - Role: Chief Executive Officer, President, Chairman of the Board and Director
  source text: On October 4, 2022, Mr. Wei Xu tendered his resignation as the Chief Executive Officer, President, Chairman of the Board and a director of Code Chain New Continent Limited (the “Company”), effective October 4, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641398/000121390022062235/0001213900-22-062235-index.htm
- Executive change
  Shuang Zhang was appointed as Vice President and Director at GD Culture Group Ltd.
  - Action: appointed
  - Role: Vice President and Director
  source text: Ms. Shuang Zhang was appointed as the Vice President and a director of the Company, effective October 4, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641398/000121390022062235/0001213900-22-062235-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.