Advanced Biomed Inc. Completes Acquisition and Appoints New CEO Amidst Strategic Pivot

Advanced Biomed Inc. has completed the acquisition of Acellent Technologies (Hong Kong) Co., Limited for $1,080,000, paid in 270,000 shares of the Company's common stock. Concurrently, the company announced a strategic pivot from life sciences to artificial intelligence development. In connection with this pivot, Yi Lu has mutually agreed to step down as CEO, Chairman, and Director. Xiaomin Chen has been appointed as the new CEO, Chairman, and Director. Mr. Chen brings over 20 years of experience in AI, large language models, and financial technology, having previously held leadership roles at Acellent Technologies, Shanghai Jianshi Network Technology Co., Ltd., and Google Inc. He holds a Ph.D. in Computer Science from Rutgers University. The company has entered into a termination agreement with Mr. Lu, providing him with 39,999 shares of common stock as severance, and an employment agreement with Mr. Chen, setting his salary at $12,000 per month.