Addentax completes $5.5M acquisition of Keemo Fashion; target shows negative equity and going concern

ADDENTAX GROUP CORP.

Acquired 62.18% of Keemo Fashion for $5.5M via bond transfer; closed March 30, 2026.
Keemo Fashion audited FY2025: revenue $15,081, net loss $33,121, shareholders' deficit $82,066.
Auditor's going-concern note cites net loss, negative working capital, and accumulated deficit.
Keemo Fashion operates apparel wholesale in China and digital publishing through GW Reader Sdn. Bhd.

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