Majestic Ideal Holdings Ltd Announces Approval of Name Change to "Ping An Biomedical Co., Ltd." at Extraordinary General Meeting

Rhea-AI Summary

Majestic Ideal Holdings (NASDAQ: MJID) announced that shareholders approved changing the company's name to Ping An Biomedical Co., Ltd. at an Extraordinary General Meeting held on September 12, 2025, in Hong Kong.

The name change, which includes updating the Chinese name from "威美控股有限公司" to "平安生物医药有限公司", will become effective upon approval from the Cayman Islands Registrar of Companies. The Board believes this rebranding will better reflect the company's strategic focus on biomedical and healthcare technologies.

News Market Reaction – MJID

+7.69% 57.7x vol

23 alerts

+7.69% News Effect

+61.5% Peak Tracked

-11.5% Trough Tracked

+$2M Valuation Impact

$27M Market Cap

57.7x Rel. Volume

On the day this news was published, MJID gained 7.69%, reflecting a notable positive market reaction. Argus tracked a peak move of +61.5% during that session. Argus tracked a trough of -11.5% from its starting point during tracking. Our momentum scanner triggered 23 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $27M at that time. Trading volume was exceptionally heavy at 57.7x the daily average, suggesting very strong buying interest.

Data tracked by StockTitan Argus on the day of publication.

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.

For more information, please contact:
Celestia Investor Relations
Email: investors@celestiair.com

FAQ

What is the new name of Majestic Ideal Holdings (NASDAQ: MJID)?

Majestic Ideal Holdings will be renamed to Ping An Biomedical Co., Ltd., with a new Chinese name '平安生物医药有限公司', pending approval from the Cayman Islands Registrar of Companies.

When did MJID shareholders approve the company name change?

Shareholders approved the name change during an Extraordinary General Meeting held on September 12, 2025, in Hong Kong.

Why is Majestic Ideal Holdings (MJID) changing its name?

The company is changing its name to enhance its corporate image and better align with its strategic focus on biomedical and healthcare technologies.

What approvals are needed for MJID's name change to take effect?

The name change requires approval from the Registrar of Companies in the Cayman Islands and will take effect upon the entry of the new names in their register and issuance of a new certificate of incorporation.