---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-079581"
form_type: "8-K"
ticker: "GDC"
cik: "0001641398"
company_name: "GD Culture Group Ltd"
filed_at: "2023-09-26T23:59:59+00:00"
generated_at: "2026-06-10T08:41:20.977947+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# GD Culture Group terminates VIE agreements, deconsolidates Shanghai Highlight Media

## Summary
- Terminated all VIE agreements with Shanghai Highlight Media effective September 26, 2023.
- Third party Jie Wang to pay $100,000 as consideration for termination.
- Company will no longer consolidate Highlight Media's financial results or balance sheet.
- Pro forma condensed financial statements to be filed by amendment within four business days.

## SEC filing metadata
- accession: 0001213900-23-079581
- form_type: 8-K
- ticker: GDC
- cik: 0001641398
- company_name: GD Culture Group Ltd
- filed_at: 2023-09-26T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.02, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1641398/000121390023079581/0001213900-23-079581-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1641398/000121390023079581/ea185772-8k_gdculture.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-079581
- JSON: https://secwatch.observer/filing/0001213900-23-079581.json
- Plain text: https://secwatch.observer/filing/0001213900-23-079581.txt

## Key facts
- Material Agreements
  GD Culture Group Ltd terminated VIE Agreements (Technical Consultation and Services Agreement, Equity Pledge Agreement, Equity Option Agreement, Voting Rights Proxy and Financial Support Agreement) with Makesi IoT Technology (Shanghai) Co., Ltd., Shanghai Highlight Media Co., Ltd., shareholders of Shanghai Highlight valued at Termination of VIE Agreements for $100,000 consideration (effective 2023-09-26).
  - Action: termination
  - Counterparty: Makesi IoT Technology (Shanghai) Co., Ltd., Shanghai Highlight Media Co., Ltd., shareholders of Shanghai Highlight
  - Value: Termination of VIE Agreements for $100,000 consideration
  - Effective: 2023-09-26
  source text: On September 26, 2023, Highlight WFOE entered into a termination agreement (the “Termination Agreement”) with Highlight Media, the Highlight Media Shareholders and a third party to terminate the VIE Agreements and for the third party to pay the Company $100,000 as consideration to the termination of the VIE Agreements.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641398/000121390023079581/0001213900-23-079581-index.htm

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