Xu Xiaoxi Acquires 6.77% Stake in Magic Empire Global Ltd via Share Purchase Agreement

On June 18, 2026, Xu Xiaoxi filed a Schedule 13D reporting the acquisition of a significant stake in Magic Empire Global Ltd (MEGL). The filing follows a Share Purchase Agreement dated May 22, 2026, which closed on June 11, 2026. Under the agreement, Xu Xiaoxi acquired 212,973 Class A ordinary shares and 130,000 Class B ordinary shares, totaling 342,973 shares. This represents a 6.77% ownership stake in the issuer, assuming the conversion of all Class B shares into Class A shares. The acquisition was part of a broader transaction involving a group of reporting persons including Fu Kam Holdings Limited, Easefound Investment Limited, Jiming International Trade Company Limited, and Quick Cash Technology Limited. Collectively, these purchasers acquired 1,638,250 Class A shares and 1,000,000 Class B shares from sellers Chan Wai Ho and Chen Sze Hon Johnson. The purchase price was set at $0.7533 per Class A share and $15.0659 per Class B share. Following the transaction, the board of directors was reconstituted with new appointees designated by the purchasers.