[6-K] TCTM Kids IT Education Inc. American Current Report (Foreign Issuer)
Amended Form 6-K corrects a clerical error in the previously filed July 1, 2025 report and restates AGM Group’s current capital structure.
On 25 Jun 2025 the board:
- Cancelled 12,000 Class B shares held by former CTO Yufeng Mi and 30,000 held by Wenjie Tang.
- Issued 1,200,000 new Class B shares to CEO/CSO Bo Zhu for past and future services; no cash was paid.
After these actions the company has 3,174,163 shares outstanding (1,974,163 Class A; 1,200,000 Class B). Class A carries one vote, Class B five votes. Bo Zhu now owns 37.81 % of equity but controls 75.24 % of total voting power.
The dual-class structure makes AGMH a “controlled company” under Nasdaq rules, allowing optional exemptions from certain corporate-governance requirements. No financial results, earnings data or operational updates are included.
Modulo 6-K Rettificato corregge un errore materiale nel rapporto precedentemente presentato il 1° luglio 2025 e aggiorna la struttura del capitale attuale di AGM Group.
Il 25 giugno 2025 il consiglio di amministrazione ha:
- Annullato 12.000 azioni di Classe B detenute dall'ex CTO Yufeng Mi e 30.000 detenute da Wenjie Tang.
- Emesso 1.200.000 nuove azioni di Classe B a favore del CEO/CSO Bo Zhu per servizi passati e futuri; non è stato effettuato alcun pagamento in contanti.
Dopo queste operazioni, la società ha 3.174.163 azioni in circolazione (1.974.163 di Classe A; 1.200.000 di Classe B). Le azioni di Classe A attribuiscono un voto ciascuna, quelle di Classe B cinque voti. Bo Zhu detiene ora il 37,81% del capitale ma controlla il 75,24% del potere di voto totale.
La struttura a doppia classe rende AGMH una “società controllata” secondo le regole del Nasdaq, consentendo esenzioni opzionali da alcuni requisiti di governance aziendale. Non sono inclusi risultati finanziari, dati sugli utili o aggiornamenti operativi.
Formulario 6-K Modificado corrige un error administrativo en el informe presentado anteriormente el 1 de julio de 2025 y restablece la estructura de capital actual de AGM Group.
El 25 de junio de 2025, la junta directiva:
- Canceló 12,000 acciones Clase B en poder del ex CTO Yufeng Mi y 30,000 en poder de Wenjie Tang.
- Emitió 1,200,000 nuevas acciones Clase B al CEO/CSO Bo Zhu por servicios pasados y futuros; no se pagó efectivo.
Después de estas acciones, la compañía tiene 3,174,163 acciones en circulación (1,974,163 Clase A; 1,200,000 Clase B). La Clase A otorga un voto por acción, la Clase B cinco votos. Bo Zhu ahora posee el 37.81% del capital pero controla el 75.24% del poder total de voto.
La estructura de doble clase convierte a AGMH en una “compañía controlada” bajo las reglas de Nasdaq, permitiendo exenciones opcionales de ciertos requisitos de gobernanza corporativa. No se incluyen resultados financieros, datos de ganancias ni actualizaciones operativas.
수정된 Form 6-K는 2025년 7월 1일에 제출된 보고서의 사무적 오류를 수정하고 AGM Group의 현재 자본 구조를 재진술합니다.
2025년 6월 25일 이사회는:
- 전 CTO Yufeng Mi가 보유한 12,000주 클래스 B 주식과 Wenjie Tang이 보유한 30,000주를 취소했습니다.
- CEO/CSO Bo Zhu에게 과거 및 미래 서비스 대가로 1,200,000주의 새로운 클래스 B 주식을 발행했으며, 현금 지급은 없었습니다.
이 조치 후 회사는 총 3,174,163주의 주식을 발행했습니다(클래스 A 1,974,163주; 클래스 B 1,200,000주). 클래스 A는 1주당 1표, 클래스 B는 5표를 가집니다. Bo Zhu는 현재 지분의 37.81%를 보유하지만 전체 의결권의 75.24%를 통제합니다.
이중 클래스 구조로 인해 AGMH는 나스닥 규정상 “통제 회사”로 간주되며, 특정 기업 거버넌스 요건에 대한 선택적 면제가 허용됩니다. 재무 결과, 수익 데이터 또는 운영 업데이트는 포함되어 있지 않습니다.
Formulaire 6-K modifié corrige une erreur administrative dans le rapport précédemment déposé le 1er juillet 2025 et rétablit la structure actuelle du capital d'AGM Group.
Le 25 juin 2025, le conseil d'administration a :
- Annulé 12 000 actions de Classe B détenues par l'ancien CTO Yufeng Mi et 30 000 détenues par Wenjie Tang.
- Émis 1 200 000 nouvelles actions de Classe B au CEO/CSO Bo Zhu pour services passés et futurs ; aucun paiement en espèces n'a été effectué.
Après ces opérations, la société compte 3 174 163 actions en circulation (1 974 163 de Classe A ; 1 200 000 de Classe B). Les actions de Classe A donnent droit à un vote, celles de Classe B à cinq votes. Bo Zhu détient désormais 37,81 % des capitaux propres mais contrôle 75,24 % du pouvoir de vote total.
La structure à deux classes fait d'AGMH une « société contrôlée » selon les règles du Nasdaq, permettant des exemptions optionnelles de certaines exigences de gouvernance d'entreprise. Aucun résultat financier, donnée sur les bénéfices ou mise à jour opérationnelle n'est inclus.
Geändertes Formular 6-K korrigiert einen Schreibfehler im zuvor eingereichten Bericht vom 1. Juli 2025 und stellt die aktuelle Kapitalstruktur der AGM Group neu dar.
Am 25. Juni 2025 hat der Vorstand:
- 12.000 Class-B-Aktien, die vom ehemaligen CTO Yufeng Mi gehalten wurden, sowie 30.000 von Wenjie Tang gehaltene Aktien annulliert.
- 1.200.000 neue Class-B-Aktien an CEO/CSO Bo Zhu für vergangene und zukünftige Leistungen ausgegeben; es wurde kein Bargeld gezahlt.
Nach diesen Maßnahmen hat das Unternehmen 3.174.163 ausstehende Aktien (1.974.163 Class A; 1.200.000 Class B). Class A hat eine Stimme, Class B fünf Stimmen. Bo Zhu besitzt nun 37,81 % des Eigenkapitals, kontrolliert aber 75,24 % der Gesamtstimmrechte.
Die Dual-Class-Struktur macht AGMH zu einem „kontrollierten Unternehmen“ nach Nasdaq-Regeln, was optionale Ausnahmen von bestimmten Corporate-Governance-Anforderungen erlaubt. Finanzielle Ergebnisse, Gewinnzahlen oder operative Updates sind nicht enthalten.
- Corrects previously misstated Class B share count, improving disclosure accuracy.
- CEO now controls 75.24 % of voting power, heightening governance and minority-rights risk.
- Issuance of 1.2 M Class B shares without cash consideration significantly dilutes public voting influence.
Insights
TL;DR: CEO awarded 1.2 M super-voting shares, gaining 75 % control; minority-holder risk rises.
The amendment fixes disclosure but formalises a substantial governance shift. The 1.2 M non-convertible Class B shares issued for “services” expand total equity by only 36 %, yet voting control consolidates under Bo Zhu (75.24 %). AGMH now qualifies as a Nasdaq “controlled company,” enabling exemptions from board-independence and committee rules. With no performance hurdles or cash consideration, the grant entrenches management and weakens shareholder protections—overall a negative signal for governance-focused investors.
TL;DR: Structural—not operational—change; limited near-term financial impact.
The filing involves share-class rebalancing, with negligible effect on aggregate market capitalization because Class B is illiquid and non-transferable. While voting dilution is material, economic dilution is minor (net +1.158 M shares). Unless the market prices a governance discount, valuation impact should be modest. No earnings, cash-flow or guidance metrics were provided, so fundamental forecasts remain unchanged.
Modulo 6-K Rettificato corregge un errore materiale nel rapporto precedentemente presentato il 1° luglio 2025 e aggiorna la struttura del capitale attuale di AGM Group.
Il 25 giugno 2025 il consiglio di amministrazione ha:
- Annullato 12.000 azioni di Classe B detenute dall'ex CTO Yufeng Mi e 30.000 detenute da Wenjie Tang.
- Emesso 1.200.000 nuove azioni di Classe B a favore del CEO/CSO Bo Zhu per servizi passati e futuri; non è stato effettuato alcun pagamento in contanti.
Dopo queste operazioni, la società ha 3.174.163 azioni in circolazione (1.974.163 di Classe A; 1.200.000 di Classe B). Le azioni di Classe A attribuiscono un voto ciascuna, quelle di Classe B cinque voti. Bo Zhu detiene ora il 37,81% del capitale ma controlla il 75,24% del potere di voto totale.
La struttura a doppia classe rende AGMH una “società controllata” secondo le regole del Nasdaq, consentendo esenzioni opzionali da alcuni requisiti di governance aziendale. Non sono inclusi risultati finanziari, dati sugli utili o aggiornamenti operativi.
Formulario 6-K Modificado corrige un error administrativo en el informe presentado anteriormente el 1 de julio de 2025 y restablece la estructura de capital actual de AGM Group.
El 25 de junio de 2025, la junta directiva:
- Canceló 12,000 acciones Clase B en poder del ex CTO Yufeng Mi y 30,000 en poder de Wenjie Tang.
- Emitió 1,200,000 nuevas acciones Clase B al CEO/CSO Bo Zhu por servicios pasados y futuros; no se pagó efectivo.
Después de estas acciones, la compañía tiene 3,174,163 acciones en circulación (1,974,163 Clase A; 1,200,000 Clase B). La Clase A otorga un voto por acción, la Clase B cinco votos. Bo Zhu ahora posee el 37.81% del capital pero controla el 75.24% del poder total de voto.
La estructura de doble clase convierte a AGMH en una “compañía controlada” bajo las reglas de Nasdaq, permitiendo exenciones opcionales de ciertos requisitos de gobernanza corporativa. No se incluyen resultados financieros, datos de ganancias ni actualizaciones operativas.
수정된 Form 6-K는 2025년 7월 1일에 제출된 보고서의 사무적 오류를 수정하고 AGM Group의 현재 자본 구조를 재진술합니다.
2025년 6월 25일 이사회는:
- 전 CTO Yufeng Mi가 보유한 12,000주 클래스 B 주식과 Wenjie Tang이 보유한 30,000주를 취소했습니다.
- CEO/CSO Bo Zhu에게 과거 및 미래 서비스 대가로 1,200,000주의 새로운 클래스 B 주식을 발행했으며, 현금 지급은 없었습니다.
이 조치 후 회사는 총 3,174,163주의 주식을 발행했습니다(클래스 A 1,974,163주; 클래스 B 1,200,000주). 클래스 A는 1주당 1표, 클래스 B는 5표를 가집니다. Bo Zhu는 현재 지분의 37.81%를 보유하지만 전체 의결권의 75.24%를 통제합니다.
이중 클래스 구조로 인해 AGMH는 나스닥 규정상 “통제 회사”로 간주되며, 특정 기업 거버넌스 요건에 대한 선택적 면제가 허용됩니다. 재무 결과, 수익 데이터 또는 운영 업데이트는 포함되어 있지 않습니다.
Formulaire 6-K modifié corrige une erreur administrative dans le rapport précédemment déposé le 1er juillet 2025 et rétablit la structure actuelle du capital d'AGM Group.
Le 25 juin 2025, le conseil d'administration a :
- Annulé 12 000 actions de Classe B détenues par l'ancien CTO Yufeng Mi et 30 000 détenues par Wenjie Tang.
- Émis 1 200 000 nouvelles actions de Classe B au CEO/CSO Bo Zhu pour services passés et futurs ; aucun paiement en espèces n'a été effectué.
Après ces opérations, la société compte 3 174 163 actions en circulation (1 974 163 de Classe A ; 1 200 000 de Classe B). Les actions de Classe A donnent droit à un vote, celles de Classe B à cinq votes. Bo Zhu détient désormais 37,81 % des capitaux propres mais contrôle 75,24 % du pouvoir de vote total.
La structure à deux classes fait d'AGMH une « société contrôlée » selon les règles du Nasdaq, permettant des exemptions optionnelles de certaines exigences de gouvernance d'entreprise. Aucun résultat financier, donnée sur les bénéfices ou mise à jour opérationnelle n'est inclus.
Geändertes Formular 6-K korrigiert einen Schreibfehler im zuvor eingereichten Bericht vom 1. Juli 2025 und stellt die aktuelle Kapitalstruktur der AGM Group neu dar.
Am 25. Juni 2025 hat der Vorstand:
- 12.000 Class-B-Aktien, die vom ehemaligen CTO Yufeng Mi gehalten wurden, sowie 30.000 von Wenjie Tang gehaltene Aktien annulliert.
- 1.200.000 neue Class-B-Aktien an CEO/CSO Bo Zhu für vergangene und zukünftige Leistungen ausgegeben; es wurde kein Bargeld gezahlt.
Nach diesen Maßnahmen hat das Unternehmen 3.174.163 ausstehende Aktien (1.974.163 Class A; 1.200.000 Class B). Class A hat eine Stimme, Class B fünf Stimmen. Bo Zhu besitzt nun 37,81 % des Eigenkapitals, kontrolliert aber 75,24 % der Gesamtstimmrechte.
Die Dual-Class-Struktur macht AGMH zu einem „kontrollierten Unternehmen“ nach Nasdaq-Regeln, was optionale Ausnahmen von bestimmten Corporate-Governance-Anforderungen erlaubt. Finanzielle Ergebnisse, Gewinnzahlen oder operative Updates sind nicht enthalten.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of July 2025
Commission File Number: 001-36363
TCTM KIDS IT EDUCATION INC.
19/F, Building A, Vanke Times Center
No.186 Beiyuan Road, Chaoyang District
Beijing, 100102, People’s Republic of China
Tel: +86 10 6213-5687
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
CONTENTS
VSA Enters Agreement to Divest Select Subsidiaries
On July 22, 2025, TCTM Kids IT Education Inc. (the “Company”) entered into a share sales and purchase agreement (the “Agreement”) with First Winner Management Limited, a British Virgin Islands company corporation (the “Buyer”) for the sale of all of the Company’s equity interest in the Company’s wholly owned subsidiaries, Kids IT Education Inc. and Tarena Hong Kong Limited (the “Targets”) to the Buyer. Pursuant to the Agreement, the Buyer agreed to purchase the Targets in exchange for nominal cash consideration of US$1 (the “Purchase Price”).
Upon the closing of the transaction (the “Disposition”) contemplated by the Agreement, the Buyer will become the sole shareholder of the Targets and as a result, assume all assets and liabilities of the Targets and subsidiaries owned or controlled by the Target. The closing of the Disposition is subject to the satisfaction or waiver of certain closing conditions set forth in the Agreement.
The Board of Directors of the Company decided to divest the Targets due to its sustained negative financial performance, including net income of approximately $1.4 million, and net losses of approximately $80.4 million, respectively, and consolidated stockholders’ equity of approximately negative $205.2 million, and negative $247 million, for the fiscal years ended December 31, 2023, and 2024, respectively. Assuming no changes to the Company’s operations and financing activities the Company estimates that, following the Disposition, its stockholders’ equity as of December 31, 2024 would have increased from approximately negative $247 million to approximately $3.6 million, primarily due to the removal of the Targets accumulated losses and liabilities from the consolidated balance sheets.
This strategic decision is driven by two key factors: (i) the need to eliminate underperforming assets, and (ii) the Company’s intention to focus on its future strategic direction, particularly the expansion into the AI-driven medical software industry. The Targets, which have consistently failed to deliver positive returns, no longer align with the Company’s long-term vision and core business strengths.
By divesting these non-core operations, the Company aims to streamline its financial structure, improve overall profitability, and reallocate resources toward high-growth, high-potential sectors such as AI-powered healthcare solutions — an area that offers significant opportunities for future value creation and sustainable competitive advantage.
The following diagram illustrates the Company’s corporate structure following the consummation of the Disposition.
The foregoing description of the is qualified in its entirety by reference to the full text of the Agreement, which is attached as Exhibit 99.1 to this Form 6-K and are incorporated herein by reference.
Recent Business Development
As previously disclosed, we have launched our brain machine interaction businesses leveraging the core algorithms and related software and hardware systems (the “System”) for brain-computer interfaces (“BCI”) through our wholly owned subsidiary, Beijing Wangwen Zhisuan Technology Co., Ltd.
Our service-based business model focuses on delivering multimodal BCI signal decoding services in accordance with the client’s technical specifications and requirements. The scope includes, but is not limited to, system development, testing, optimization, and maintenance. The objective is to ensure stable BCI system operation tailored to the client’s specific application needs. The primary target clients include internet technology firms, AI startups, and e-commerce platforms in Asia. As of June 30, 2025, we have generated approximately RMB200,000 in revenue through technical service contracts, with key clients including internet tech companies and AI startups in Asia.
Our product-based business model is to produce electroencephalography (“EEG”) acquisition devices as well as to provide related technical services. The primary target clients are medical institutions and research institutions in Asia. As of June 30, 2025, our EEG acquisition devices are in the testing and optimization stage and we expect to begin generating revenue later this year, primarily from medical and research institutions.
As a result of the consummation of a certain private placement of 25,000,000 Class A ordinary shares pursuant to certain share purchase agreements dated April 1, 2025, and the consummation of an asset purchase pursuant to certain intangible asset purchase agreement dated April 1, 2025 with Jeethen International Co., Limited to acquire the System in consideration for the issuance of 135,625,000 Class A ordinary shares, there are 229,535,149 Class A ordinary shares and 7,206,059 Class B ordinary shares issued and outstanding as of the date of this report.
Safe Harbor Statement
This current report contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. TCTM may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including any business outlook and statements about TCTM’s beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements.
Incorporation by Reference
This report on Form 6- K is hereby incorporated by reference into each of (i) the registration statement on Form F-3 (No. 333-284305), and (ii) the registration statements on Form S-8 (No. 333-279404, No. 333-270547, No. 333-228771, No. 333-204494 and No. 333-197226), to the extent not superseded by documents or reports subsequently filed.
EXHIBITS
| Exhibit No. | Description |
| 99.1 | Share Sale and Purchase Agreement, Dated July 22, 2025, by and among First Winner Management Limited, Kids IT Education Inc., Tarena Hong Kong Limited and TCTM Kids IT Education Inc. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TCTM Kids IT Education Inc. | ||
| By: | /s/ Heng Wang | |
| Name: | Heng Wang | |
| Title: | Chief Executive Officer | |
Date: July 24, 2025
FAQ
What did AGM Group (AGMH) change in this amended Form 6-K?
How many new Class B shares were issued to CEO Bo Zhu?
What is AGMH’s post-transaction share count?
How much voting power does the CEO now hold?
Does AGMH now qualify as a Nasdaq “controlled company”?
