Majestic Ideal Holdings Ltd approved a name change to Ping An Biomedical Co., Ltd. at an Extraordinary General Meeting.
Quiver AI Summary
Majestic Ideal Holdings Ltd (NASDAQ: MJID) announced the approval of a name change during its Extraordinary General Meeting held on September 12, 2025. The company will change its English name to "Ping An Biomedical Co., Ltd." and its Chinese name to "平安生物医药有限公司," pending the approval of the Cayman Islands Registrar of Companies. The meeting, chaired by Ms. Ll, Yuk Yin Judy, confirmed a quorum and saw the unanimous approval of the name change and associated measures necessary for its implementation. The Board expressed that the new name aligns with the company's strategic focus on biomedical and healthcare technologies, aiming to enhance its corporate image and industry leadership. Majestic Ideal, traditionally a supply chain management service provider in the apparel industry, is transitioning towards a stronger emphasis on innovation in healthcare and biomedical sectors.
Potential Positives
- The Company has received approval to change its name to "Ping An Biomedical Co., Ltd.", aligning its identity with its strategic focus on biomedical and healthcare technologies.
- The name change is seen as an enhancement of the Company's corporate image, potentially attracting more interest and investment in its health-related initiatives.
- The unanimous approval from shareholders at the Extraordinary General Meeting demonstrates strong support for the Company's strategic direction.
- The Company is positioning itself as a leader in the biomedical and healthcare technology industry, indicating a commitment to innovation and growth in a key sector.
Potential Negatives
- The need to change the company's name may indicate a lack of clarity or focus in its brand identity, potentially confusing stakeholders about its core business.
- The transition from an apparel service provider to a focus on biomedical technologies may raise concerns over the company's business strategy and execution capabilities.
FAQ
What is the new name for Majestic Ideal Holdings Ltd?
The new name will be “Ping An Biomedical Co., Ltd.” for the English version and “平安生物医药有限公司” for the Chinese version.
When was the approval for the name change announced?
The approval for the name change was announced on September 12, 2025, during the Extraordinary General Meeting of Shareholders.
What will happen after the name change is approved?
The name change will take effect upon registration with the Cayman Islands Registrar of Companies and issuance of the new certificate.
Who conducted the Extraordinary General Meeting?
The Meeting was conducted by Ms. Ll, Yuk Yin Judy, acting as the Chairperson in accordance with the Company's Articles of Association.
What is the strategic focus of the newly named company?
The newly named company, Ping An Biomedical Co., Ltd., will focus on biomedical and healthcare technologies, enhancing its corporate image.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
HONG KONG, Sept. 12, 2025 (GLOBE NEWSWIRE) -- Majestic Ideal Holdings Ltd (NASDAQ: MJID) (the “Company”) announced that during the Extraordinary General Meeting of Shareholders (the “Meeting”) held today at 11:00 a.m. at the Company’s office located at 7/F, China United Plaza, 1002-1008, Tai Nan West Street, Cheung Sha Wan, Kowloon, Hong Kong, the proposal to change the Company’s name was officially approved subject to and conditional upon the approval of the Registrar of Companies in the Cayman Islands.
The Meeting was duly convened, and Ms. Ll, Yuk Yin Judy, acting as the Chairperson of the Meeting in accordance with the Company’s Articles of Association, declared the Meeting open and confirmed that the quorum requirement was met.
Resolutions Passed
The Meeting deliberated and unanimously approved the following special resolutions:
Change of Company Name
The Company’s English name will be changed from “Majestic Ideal Holdings Ltd” to “Ping An Biomedical Co., Ltd.”
The Company’s Chinese name will be changed from “威美控股有限公司” to “平安生物医药有限公司”.
The name change will take effect upon the date of entry of the new English name and the dual foreign name in Chinese of the Company on the register maintained by the Registrar of Companies in the Cayman Islands and the date on which the certificate of incorporation on change of name is issued by the Registrar of Companies in the Cayman Islands.
Authorization to Implement Name Change
The Meeting authorized any one director, the secretary, and/or the registered office provider of the Company to notify the Cayman Islands Registrar of Companies of the special resolutions, complete all necessary filings, and take any actions required to implement the name change.
Both special resolutions were approved by a majority of at least two-thirds of shareholders being entitled to vote and present in person or by proxy at the Meeting.
Company Statement
The Board of Directors believes that the approved name change will enhance the Company’s corporate image and align with its strategic focus on biomedical and healthcare technologies. The Company remains committed to driving innovation and positioning itself as a leader in the industry.
About Majestic Ideal Holdings Ltd
Majestic Ideal Holdings Ltd is a one-stop SCM service provider in the apparel industry. It is also a forward-thinking company dedicated to delivering innovative solutions in healthcare and biomedical technology. The proposed name change reflects its commitment to advancing its mission and positioning itself as a leader in the industry.
