---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-024812"
form_type: "8-K"
ticker: "VIVC"
cik: "0001703073"
company_name: "VIVIC CORP."
filed_at: "2023-07-18T23:59:59+00:00"
generated_at: "2026-06-13T07:07:54.214144+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Vivic Corp sells Chinese ship repair subsidiary to CEO's son for nominal value

## Summary
- Sale of Guangdong Weiguan Ship Tech to Yun-Kuang Kung (CEO's son) for 1,000 RMB and indemnification.
- Subsidiary had negative net assets >RMB 8.2M; appraiser noted potential liabilities for unpaid capital.
- Divestiture part of plan to focus on Taiwan operations and pursue US stock exchange uplisting.
- Consideration includes buyer's agreement to indemnify Vivic against all claims related to Weiguan Ship Tech.

## SEC filing metadata
- accession: 0001493152-23-024812
- form_type: 8-K
- ticker: VIVC
- cik: 0001703073
- company_name: VIVIC CORP.
- filed_at: 2023-07-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1703073/000149315223024812/0001493152-23-024812-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1703073/000149315223024812/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-024812
- JSON: https://secwatch.observer/filing/0001493152-23-024812.json
- Plain text: https://secwatch.observer/filing/0001493152-23-024812.txt

## Key facts
- Material Agreements
  VIVIC CORP. entered into Stock Purchase Agreement with Yun-Kuang Kung valued at nominal monetary consideration (effective 2023-07-12).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Yun-Kuang Kung
  - Value: nominal monetary consideration
  - Effective: 2023-07-12
  source text: On July 12, 2023, Vivic Corporation (Hong Kong) Co. Limited (“Vivic Hong Kong”), a wholly-owned subsidiary of Vivic Corp. (the “Company”), entered into a Stock Purchase Agreement with Yun-Kuang Kung (Mr. “Kung”) pursuant to which Mr. Kung acquired all of the shares of our indirectly wholly-owned subsidiary, Guangdong Weiguan Ship Tech Co., Ltd. (“Weiguan Ship Tech”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1703073/000149315223024812/0001493152-23-024812-index.htm

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