Golden Sun Health Technology Group Completes Acquisition of Zhejiang Oulong for $6.2M.

Golden Sun Health Technology Group Limited has completed the acquisition of Zhejiang Oulong Cultural and Tourism Industry Development Co., Ltd. for $6,155,951. This acquisition is significant and is expected to diversify Golden Sun's revenue streams and strengthen its position in the cultural tourism sector, aligning with its strategic transition to expand beyond educational services.

Golden Sun Health Technology Group Limited (GSUN) has completed the acquisition of Zhejiang Oulong Cultural and Tourism Industry Development Co., Ltd. for $6,155,951. This strategic move is expected to diversify GSUN's revenue streams and strengthen its position in the cultural tourism sector, aligning with its strategic transition to expand beyond its legacy educational services [2].

The acquisition was finalized through GSUN's wholly-owned subsidiary, Wenzhou Lilong Network Technology. The original purchase price of $5,000,000 was amended to $6,160,000 (RMB 43.2 million) [2]. GSUN has already paid $5,520,000 (90%) and has $640,000 (RMB 4.32 million) remaining due within 180 days of share-transfer registration [2].

Zhejiang Oulong meets the significant-subsidiary threshold under Rule 3.05 of Regulation S-X, prompting GSUN to furnish audited historical financials and unaudited pro-forma statements as part of its Form F-1 resale registration [2]. Management's unaudited projections for Zhejiang Oulong show a modest increase in revenue and net income over the next two fiscal years [2].

Despite the small absolute scale of Zhejiang Oulong, the acquisition supports GSUN's strategic shift towards wellness brands, e-commerce, and cultural tourism. The company believes this diversification will enhance its revenue beyond its traditional tutorial-services base [2]. Forward-looking statements are subject to customary risks, and actual results may differ materially due to regulatory, market-demand, and macroeconomic factors [2].

References:
[1] http://www.beatles.ru/news-overview/what-makes-golden-sun-health-technology-group-limited-stock-price-move-sharply
[2] https://www.stocktitan.net/sec-filings/GSUN/6-k-golden-sun-health-technology-group-limited-current-report-foreign-a17bf776871a.html