Consortium Led by Wealthy Concord Proposes $10.75 Per Share Take-Private of GD Culture Group Ltd

On May 1, 2026, Wealthy Concord Limited and East Valley Technology Limited, along with their respective principals Binyang Zhang and Runan Cui, filed a Schedule 13D disclosing a combined 9.2% stake in GD Culture Group Ltd (GDC). The reporting persons formed a consortium to propose a "going private" transaction, delivering a preliminary non-binding proposal to acquire all outstanding shares not already owned by them for $10.75 per share in cash. This offer price represents a significant premium of approximately 168.8% over the April 30, 2026, closing price. The consortium members have entered into an agreement to cooperate exclusively on the acquisition and have restricted the transfer of their existing shares. Wealthy Concord and East Valley Technology each individually hold 2,782,443 shares (4.6% each), which were originally acquired in September 2025 via a securities exchange agreement. If the merger is completed, GDC would become a privately held company and its shares would be delisted from the Nasdaq Capital Market.