Chijet Motor Company (CJET) plans reverse split and digital currency rebrand
Rhea-AI Filing Summary
Chijet Motor Company, Inc. plans to ask shareholders at its September 22, 2025 annual meeting to approve several major changes. The board is proposing an ordinary resolution for a reverse stock split (described as a share consolidation) in which up to 30 existing ordinary shares with a par value of US$0.003 would be combined into 1 ordinary share with a par value of no more than US$0.09. Shareholders will also vote on special resolutions to change the company’s name from “CHIJET MOTOR COMPANY, INC.” to “Digital Currency X Technology Inc.” and to adopt a third amended and restated memorandum and articles of association reflecting these changes. Shareholders of record as of the close of business on August 8, 2025 are entitled to vote, and they will be presented with financial information for the year ended December 31, 2024 and may discuss company affairs with management.
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Insights
Chijet seeks a large reverse split, rebranding and new charter.
Chijet Motor Company, Inc. is asking shareholders to approve a reverse stock split of up to 30 ordinary shares into 1 share. This kind of consolidation changes the number of shares outstanding and the per‑share price without altering overall equity, and it typically provides flexibility around listing standards and capital structure, though the filing does not state a specific purpose.
The company is also proposing to change its name to Digital Currency X Technology Inc. and to adopt a third amended and restated memorandum and articles of association that reflect these resolutions. A name change of this type may signal a shift in strategic focus, but the excerpt does not describe any related business changes or transactions.
These items will be decided at the September 22, 2025 annual general meeting, with voting eligibility set for shareholders of record at the close of business on August 8, 2025. Subsequent disclosures after the meeting would clarify which resolutions were approved and how the new charter is worded in detail.
FAQ
What is Chijet Motor Company (CJET) asking shareholders to approve at the 2025 AGM?
Shareholders are being asked to vote on a reverse stock split of up to 30 existing ordinary shares into 1 share, a name change from “CHIJET MOTOR COMPANY, INC.” to “Digital Currency X Technology Inc.”, and adoption of a third amended and restated memorandum and articles of association that reflect these changes.
What are the details of the proposed reverse stock split for CJET?
The proposal contemplates a share consolidation in which up to 30 issued and unissued ordinary shares of par value US$0.003 each would be consolidated into 1 ordinary share with a par value of no more than US$0.09.
What name change is Chijet Motor Company proposing?
The company is proposing a special resolution to change its name from “CHIJET MOTOR COMPANY, INC.” to “Digital Currency X Technology Inc.”, effective from the date a certificate of incorporation on change of name is issued by the Cayman Islands Registrar of Companies.
Will Chijet Motor Company change its governing documents?
Yes. Shareholders will vote on a special resolution to delete the current second amended and restated memorandum and articles of association in their entirety and replace them with a third amended and restated memorandum and articles of association that incorporates the proposed changes.
Who is entitled to vote at Chijet Motor Company’s September 22, 2025 annual meeting?
Shareholders of record who hold ordinary shares of par value US$0.003 per share at the close of business on August 8, 2025 are entitled to notice of and to vote at the annual meeting and any postponements or adjournments.
Will financial results be discussed at Chijet Motor Company’s 2025 annual meeting?
Yes. Shareholders will be presented with the company’s financial information for the fiscal year ended December 31, 2024 and will have the opportunity to discuss company affairs with management.
Where can investors find the detailed meeting notice and new charter for CJET?
The notice of the 2025 Annual General Meeting of Shareholders is furnished as Exhibit 99.1, and the third amended and restated memorandum and articles of association are furnished as Exhibit 3.1 to the report.