Creative Global Technology Holdings Limited (CGTL) reports that shareholders held the 2026 Second Extraordinary General Meeting on September 9, 2026, with 567,045 Class A Ordinary Shares and 566,667 Class B Ordinary Shares present, representing about 65.94% of shares entitled to vote, constituting a quorum.
Shareholders approved by special resolution the Fourth Amended and Restated Memorandum and Articles of Association, replacing the prior third amended and restated version. Two ordinary resolutions also passed: one authorizing directors and the registered office service provider to complete ancillary and administrative steps to implement the changes, and one authorizing the meeting chair to adjourn the meeting if needed. The company expects to file the new memorandum and articles with the Cayman Islands Registrar within fifteen days of the meeting.
Creative Global Technology Holdings Ltd (CGTL) reported unaudited results for the six months ended March 31, 2026, showing revenue of $18.4 million, up 50.3% from $12.2 million a year earlier, driven mainly by wholesale sales of pre-owned smartphones under an inventory destocking strategy.
Despite the revenue growth, the company recorded a gross loss of $3.8 million, or -20.5% of revenue, versus a 12.6% gross margin previously, due to selling inventory at reduced prices and a $2.1 million inventory write-down. Net loss narrowed to $3.8 million from $15.3 million, largely because the prior period included $15.8 million of share-based compensation that did not recur.
As of March 31, 2026, CGTL held $0.5 million in cash, working capital of $13.5 million and a current ratio of 46.7:1, supported by $6.9 million of inventory and $6.4 million of prepayments and other current assets. Subsequently, shareholders approved major governance changes, increasing Class B voting rights to 100 votes per share and raising the founder’s voting power to 98.11%, and the board implemented a 1‑for‑15 reverse stock split effective July 6, 2026.
Creative Global Technology Holdings Limited (CGTL) is calling a 2026 Second Extraordinary General Meeting of Shareholders on September 9, 2026 to vote on three governance proposals. The main item is a special resolution to adopt a Fourth Amended and Restated Memorandum and Articles of Association, replacing the existing third amended and restated version. The new charter documents are intended to update written resolution provisions, add an exclusive Cayman Islands forum for most internal corporate disputes (with specified carve-outs), and reflect the current authorised share capital after a 1-for-15 share consolidation, being US$900,000 divided into 5,700,000,000 Class A and 300,000,000 Class B ordinary shares of US$0.00015 par value each.
Shareholders will also vote on an ordinary resolution granting general authority to directors and the registered office provider to implement the approved changes, and a further ordinary resolution authorising the meeting chair to adjourn the EGM if additional proxy solicitation is needed. As of the August 24, 2026 record date there were 1,152,588 Class A and 566,667 Class B ordinary shares outstanding, with Class A carrying one vote per share and Class B carrying one hundred votes per share. The board unanimously recommends voting “FOR” all three proposals.
Creative Global Technology Holdings Limited (CGTL) is convening a second extraordinary general meeting of shareholders on September 9, 2026 at 9:00 a.m. U.S. Eastern Time at its Hong Kong office. Shareholders are being asked, by special resolution, to approve and adopt a fourth amended and restated memorandum and articles of association, replacing the existing third amended and restated version with immediate effect from the date the resolution is passed. Additional ordinary resolutions relate to matters approved at the meeting and authorize the chairman to adjourn the meeting if needed to obtain sufficient proxies in connection with the key proposals. The report is also incorporated by reference into CGTL’s Form S-8 registration statement (No. 333-284400).
Creative Global Technology Holdings Ltd reports that Shangzhao (Cizar) Hong and his controlled British Virgin Islands entity, HSZ Holdings Limited, each beneficially own 623,334 shares, consisting of 56,667 Class A and 566,667 Class B ordinary shares. This represents 36.26% of the company’s equity, based on 1,152,588 Class A and 566,667 Class B ordinary shares outstanding as of August 13, 2026, following a 1-for-15 reverse share split effective July 6, 2026. CHSZ Holdings Limited, another BVI entity associated with Hong, reports no share ownership and no voting or dispositive power.
Creative Global Technology Holdings Limited is implementing a 1-for-15 reverse share split of its Class A and Class B Ordinary Shares. Every 15 issued shares of each class will be combined into one share, with no change to the company’s Third Memorandum and Articles of Association.
The reverse split is expected to be effective on July 6, 2026, and trading of Class A Ordinary Shares on Nasdaq will begin on a split-adjusted basis on July 7, 2026. The shares will continue under the symbol CGTL with a new CUSIP G2563P110. The company expects this action will allow it to regain compliance with Nasdaq’s $1.00 minimum bid price requirement.
Creative Global Technology Holdings Limited has been notified by Nasdaq that its ordinary shares no longer meet the $1.00 minimum bid price requirement after trading below that level for 30 consecutive business days from May 13 to June 25, 2026. The shares remain listed on the Nasdaq Capital Market under the symbol CGTL, and there is no immediate delisting.
The company has a 180‑day compliance period, until December 23, 2026, to regain compliance. If the closing bid price is at least $1.00 for 10 consecutive business days during this period, Nasdaq will confirm compliance. If the company still falls short by that date, it may seek an additional grace period by meeting other listing standards and indicating plans to cure the deficiency, which could include a reverse stock split.
Creative Global Technology Holdings Limited reported the results of its 2026 Extraordinary General Meeting and a separate Class B shareholders’ meeting. Shareholders approved a sharp increase in the voting power of each Class B ordinary share from twenty votes to one hundred votes per share, significantly strengthening the influence of that class on all matters put to a vote.
They also approved increasing authorized share capital from US$2,000,000 to US$90,000,000, expanding capacity to issue up to 85.5 billion Class A and 4.5 billion Class B ordinary shares. A related par value reduction to US$0.00001 per share was approved, with the reduction credited to share premium.
Shareholders adopted a Third Amended and Restated Memorandum and Articles of Association and authorized the board to execute up to five share consolidations within two years at ratios up to 1-for-1500 on a proportionate basis between classes. A separate Class B meeting approved the increase in voting rights, removal of dividend rights for Class B, and the new charter terms. Turnout at the EGM represented about 95.39% of voting shares.
Creative Global Technology Holdings Limited is asking shareholders to approve significant changes to its share structure and governance at a June 12, 2026 extraordinary general meeting. Proposals include increasing Class B voting rights from 20 to 100 votes per share while leaving Class A at one vote, boosting authorized capital to 85.5 billion Class A and 4.5 billion Class B shares, and then reducing par value from US$0.001 to US$0.00001 per share with the reduction credited to share premium.
The company also seeks to adopt a Third Amended and Restated Memorandum and Articles of Association to reflect these changes and to authorize up to five share consolidations, at ratios up to 1-for-1500, over two years at the board’s discretion. A separate Class B meeting will vote on increasing Class B voting rights, removing dividend rights from Class B shares, and adopting the new charter. As of the record date, 17,225,000 Class A shares and 8,500,000 Class B shares were outstanding, and the founder, through HSZ Holdings, controls all Class B shares and would hold 98.11% of total voting power if the voting-rights increase is approved.