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Mega Fortune (MGRT) investor group reveals 72.7% ownership and board changes

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D

Rhea-AI Filing Summary

Mega Fortune Co Ltd received a new Schedule 13D from Power Partner Capital Limited, Mericorn Company Limited and WANG Zixi, disclosing control of the company. Mericorn directly owns 10,000,000 ordinary shares, which is about 72.73% of Mega Fortune’s issued and outstanding ordinary shares and voting power, based on 13,750,000 shares outstanding as of July 15, 2025. Mericorn is wholly owned by Power Partner Capital, which in turn is wholly owned by WANG Zixi, giving him beneficial ownership of the stake.

The filing explains that Power Partner Capital acquired 100% of Mericorn through a series of agreements in 2025–2026 with former Mericorn shareholders for total cash consideration of around US$6.95 million. Around the same time, multiple directors and senior executives of Mega Fortune resigned and three new directors, including two independent directors, were appointed, signaling a significant shift in ownership and board composition.

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Insights

New 72.7% control stake and board reshuffle concentrate influence in one investor group.

Power Partner Capital, through its wholly owned vehicle Mericorn, now beneficially owns 10,000,000 Mega Fortune ordinary shares, or about 72.73% of the outstanding and voting shares as of July 15, 2025. Because WANG Zixi wholly owns Power Partner Capital, this structure effectively places majority control with a single ultimate shareholder.

The acquisition was executed via a deposit agreement and subsequent share purchase agreements, with disclosed cash consideration of roughly US$1,605,000, US$535, and US$5,349,465 for 100% of Mericorn’s equity. This indicates a negotiated transfer of a controlling block rather than open-market accumulation.

Alongside the ownership change, several independent and executive directors resigned effective January 20–21, 2026, and three new directors were appointed. This combination of a majority voting position and refreshed board membership may shape Mega Fortune’s strategic direction, depending on how the new controlling holder and board choose to exercise their influence over time.






If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D




Comment for Type of Reporting Person:
Note to Row 7, 9, 11: Represents 10,000,000 ordinary shares of Mega Fortune Company Limited (the "Issuer") directly held by Mericorn Company Limited, which is 100% owned by Power Partner Capital Limited; WANG Zixi is the sole shareholder of Power Partner Capital Limited. Note to Row 13: The percentage calculation is based on 13,750,000 ordinary shares of the Issuer outstanding as of July 15, 2025.


SCHEDULE 13D




Comment for Type of Reporting Person:
Note to Row 7, 9, 11: Represents 10,000,000 ordinary shares of the Issuer directly held by Mericorn Company Limited, which is 100% owned by Power Partner Capital Limited; WANG Zixi is the sole shareholder of Power Partner Capital Limited. Note to Row 13: The percentage calculation is based on 13,750,000 ordinary shares of the Issuer outstanding as of July 15, 2025.


SCHEDULE 13D




Comment for Type of Reporting Person:
Note to Row 7, 9, 11: Represents 10,000,000 ordinary shares of the Issuer directly held by Mericorn Company Limited, which is 100% owned by Power Partner Capital Limited; WANG Zixi is the sole shareholder of Power Partner Capital Limited. Note to Row 13: The percentage calculation is based on 13,750,000 ordinary shares of the Issuer outstanding as of July 15, 2025.


SCHEDULE 13D


Power Partner Capital Limited
Signature:/s/ LIN Xiaodong
Name/Title:LIN Xiaodong/Director
Date:01/26/2026
Mericorn Company Limited
Signature:/s/ LAI Long Wai
Name/Title:LAI Long Wai/Director
Date:01/26/2026
WANG Zixi
Signature:/s/ WANG Zixi
Name/Title:WANG Zixi
Date:01/26/2026

FAQ

What ownership stake in Mega Fortune Co Ltd (MGRT) is reported in this Schedule 13D?

The filing reports that Mericorn Company Limited directly owns 10,000,000 ordinary shares of Mega Fortune Co Ltd, representing approximately 72.73% of the company’s issued and outstanding ordinary shares and total voting power, based on 13,750,000 shares outstanding as of July 15, 2025.

Who are the reporting persons in the Mega Fortune (MGRT) Schedule 13D filing?

The reporting persons are Power Partner Capital Limited (PPCL), Mericorn Company Limited, and WANG Zixi. Mericorn is 100% owned by PPCL, and WANG Zixi is the sole shareholder of PPCL, so he is deemed to beneficially own the shares held by Mericorn.

How did Power Partner Capital acquire control of Mericorn and indirectly Mega Fortune (MGRT)?

Power Partner Capital entered into a deposit agreement on September 30, 2025 paying US$1,605,000, a share purchase agreement on December 8, 2025 for US$535 (0.01% of Mericorn’s equity), and a further share purchase agreement on January 21, 2026 for US$5,349,465 (99.99% of Mericorn’s equity). These transactions closed by January 26, 2026, giving PPCL 100% ownership of Mericorn and indirect control of Mega Fortune’s shares held by Mericorn.

What board and management changes at Mega Fortune Co Ltd are disclosed in this 13D?

Effective January 20, 2026, independent director Mr. PoTin Wong resigned. Effective January 21, 2026, independent director Mr. Wan Kwun Lun, director and Chief Financial Officer Mr. Chi Chuen Lai, and director and Chief Operating Officer Ms. Sin Yi Cheng resigned. The remaining board then elected Mr. Charles Lin and Ms. Chunyan Wang as independent directors and Mr. Long Wai Lai as a director to fill the vacancies.

What are the stated intentions of the new controlling holder of Mega Fortune (MGRT)?

The reporting persons state they acquired the ordinary shares for investment purposes and intend to review their investment on a continuing basis. They may engage with shareholders, management, and directors about Mega Fortune’s operations, strategy, and financing alternatives, and may buy more shares, hold, or dispose of shares depending on factors such as the issuer’s business, share price, and market conditions.

Have the reporting persons indicated any specific corporate actions they plan to pursue at Mega Fortune?

The reporting persons state that, other than the actions described, they have no present plans or proposals that would result in actions listed in clauses (a) through (j) of Item 4 of the Exchange Act, such as mergers, asset sales, or changes in capitalization, though they may change their intentions in the future.
Mega Fortune Company Limited

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