Annuncio • Apr 01
Embrace Change Acquisition Corp. announced delayed annual 10-K filing On 03/31/2026, Embrace Change Acquisition Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Annuncio • Jan 02
Embrace Change Acquisition Corp. Announces Chief Executive Officer Changes, Effective December 26, 2025 Embrace ChOn December 25, 2025, Embrace Change Acquisition Corp. (Company) received a written notice from Jingyu Wang that he resigned from his position as the Company’s Chief Executive Officer, pending on the approval from the company’s board of directors (Board). Mr. Wang’s decision to resign was not due to any disagreements with the company on any matter relating to the Company’s operations, policies, or practice. On December 26, 2025, the Board approved the resignation of Jingyu Wang from the company’s Chief Executive Officer, and appointed Zheng Yuan, the company’s Chief Financial Officer, as the company’s Chief Executive Officer, in addition to her Chief Financial Officer position. Jingyu Wang has been the company’s director since December 2022 and was the company’s Chief Executive Officer from December 2022 to December 2025. Mr. Wang served as an advisor to the company in connection with its initial public offering and public disclosures from September 2021 until his appointment as Chief Executive Officer. From October 2024, Mr. Wang has been a director and the secretary of the board of Hangzhou Tangji Medical Technology Co., Ltd, overseeing capital markets operations and managing investor relations. From June 2015 to September 2021, Mr. Wang served as the secretary of the board for 36Kr Holdings Inc. Mr. Wang received his bachelor’s degree in laws from China University of Political Science and Law in 2012. Zheng Yuan has been the Company’s Chief Financial Officer and a director since March 2021. From July 2024, Ms. Yuan has also been a weekend teacher at San Diego Huaxia Chinese School teaching Mandarin Chinese. From June 2017 until August 2021, Ms. Yuan was the Acting as CFO and Administrative Director of Ningbo Super fan Culture Media Co. Ltd., a joint stock limited company. From October 2010 until March 2016, she was the Vice President of International Banking for Bank of Beijing Co. Ltd. She received master’s and bachelor’s degrees from Tianjin University of Finance and Economics. Annuncio • Nov 18
Embrace Change Acquisition Corp. announced delayed 10-Q filing On 11/17/2025, Embrace Change Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Aug 22
Embrace Change Acquisition Corp.(OTCPK:EMCG.F) dropped from NASDAQ Composite Index Embrace Change Acquisition Corp. has been dropped from the NASDAQ Composite Index . Annuncio • Aug 19
Embrace Change Acquisition Receives Potential Delisting Notice from The Nasdaq Stock Market Due to Failure to Complete Initial Business Combination On August 14, 2025, Embrace Change Acquisition Corp. received a written notice (the ‘Notice’) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (‘Nasdaq’) that the Company’s securities will be delisted from The Nasdaq Stock Market by reason of the failure of the Company to complete its initial business combination by August 9, 2025 (36 months from the effectiveness of its IPO registration statement) as required by IM-5101-2. Accordingly, trading in the Company’s Ordinary Shares, Warrants, Rights and Units will be suspended at the opening of business on August 21, 2025 and a Form 25-NSE will be filed by Nasdaq with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on the Nasdaq Stock Market. After suspension from Nasdaq, the Company expects its Ordinary Shares, Warrants, Rights and Units to be quoted on the Pink Open Market operated on The OTC Market systems (‘OTC Market’) under the symbols ‘EMCG,’ ‘EMCGW,’ ‘EMCGR’ and ‘EMCGU,’ respectively. There is no guarantee, however, that a broker will continue to make a market in the Company’s securities or that trading thereof will continue on the OTC Market or otherwise. Notwithstanding the delisting of the Company’s securities from Nasdaq, it remains the intention of the Company to continue to pursue an initial business combination as well as the listing of the post-combination company’s Ordinary Shares and Warrants on The Nasdaq Stock Market in connection therewith. However, there can be no assurance that an initial business combination will ultimately be successful or that the post-combination company’s securities will ultimately be listed on Nasdaq in connection therewith. Annuncio • Aug 15
Embrace Change Acquisition Corp. announced delayed 10-Q filing On 08/14/2025, Embrace Change Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • May 16
Embrace Change Acquisition Corp. announced delayed 10-Q filing On 05/15/2025, Embrace Change Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Jan 29
Tianji Tire Global (Cayman) Limited entered into a merger agreement to acquire Embrace Change Acquisition Corp. (NasdaqGM:EMCG) from Wuren Fubao Inc. and others for approximately $450 million in a reverse merger transaction. Tianji Tire Global (Cayman) Limited entered into a merger agreement to acquire Embrace Change Acquisition Corp. (NasdaqGM:EMCG) from Wuren Fubao Inc. and others for approximately $450 million in a reverse merger transaction on January 26, 2025. Embrace will issue an aggregate of 45,000,000 of its ordinary shares with a deemed price per share of $10, for a total value equal to the merger consideration, $450 million to the shareholders. The Tianji management team, led by its CEO Hailong Cheng, will continue to run the Combined Company after the closing of the Proposed Transaction. The transaction is subject to registration statement effectiveness and to the approval of both Embrace and Tianji shareholders, listing of shares, third party approval including the approval by regulatory board/committee. The transaction was unanimously approved by both Embrace and Tianji board of directors. The transaction is subject to close no later than August 12, 2025.
Giovanni Caruso of Loeb & Loeb LLP acted as legal advisor to Embrace Change. Ogier (Cayman) LLP acted as legal advisor to Embrace Change. Beijing Dacheng Law Offices, LLP acted as legal advisor to Embrace Change. Steve Lin of Han Kun Law Offices LLP acted as legal advisor to Tianji Tire. Harney Westwood & Riegels acted as legal advisor to Tianji Tire. Annuncio • Aug 16
Embrace Change Acquisition Corp. announced delayed 10-Q filing On 08/15/2024, Embrace Change Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Jul 02
Embrace Change Acquisition Receives Delisting Notice from Nasdaq and Plans to Request Hearing Embrace Change Acquisition Corp. (the ‘Company’) announced that on June 24, 2024, it received a Staff Delisting Determination (the ‘Staff Determination’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’), notifying the Company of its noncompliance with Nasdaq’s continued listing requirements and that unless appealed and their determination reversed, the Company’s securities will be delisted from Nasdaq. The Staff Determination was issued due to the Company’s failure to comply with the following Nasdaq’s continued listing requirements: Listing Rule 5450(a)(2), which requires a minimum of 400 total shareholders; Listing Rule 5250(c)(1), due to the Company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and its Quarterly Report on Form 10-Q for the period ended March 31, 2024. According to the Staff Determination, unless the Company requests an appeal of the Staff Determination, trading of the Company’s securities will be suspended at the opening of business on July 3, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on Nasdaq. The Company intends to timely request a hearing before a Nasdaq Hearings Panel (the ‘Panel’) to appeal the Staff Determination. This request will stay the suspension of the Company’s securities and the filing of the Form 25-NSE at least pending the Panel’s decision. The Company plans to present its plan to regain compliance with the applicable listing requirements and to request continued listing pending its return to compliance. Jingyu Wang, Chief Executive Officer of the Company, stated, ‘We are committed to addressing the issues raised by Nasdaq and maintaining our listing. We are actively working to increase our total shareholder count and expedite the completion of our overdue financial reports. We believe that appealing this determination and presenting our compliance plan to the Panel is in the best interests of our company and our shareholders’. Annuncio • Jun 06
Embrace Change Acquisition Receives Non-Compliance Letter from Nasdaq Regarding Listing Rule 5250(c)(1) On May 30, 2024, Embrace Change Acquisition Corp. (the Company") received a delinquency notification letter (the Notice") from the Nasdaq Stock Market LLC (Nasdaq") due to the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company's failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024. Pursuant to the delinquency letter it previously received related to the Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the Initial Delinquent Filing"), the Notice states that the Company has until July 1, 2024, to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the Company's plan, then Nasdaq may grant the Company up to October 14, 2024, or 180 calendar days from the due date of the Initial Delinquent Filing, to regain compliance. If the Company fails to timely regain compliance with Nasdaq Listing Rule 5250(c)(1), the Company's common stock will be subject to delisting from Nasdaq. Annuncio • May 17
Embrace Change Acquisition Corp. announced delayed 10-Q filing On 05/15/2024, Embrace Change Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Apr 30
Embrace Change Acquisition Receives Delisting Determination Letter from The Nasdaq Stock Market LLC On April 23, 2024, Embrace Change Acquisition Corp. (the ‘Company’) received a delisting determination letter from the Listing Qualifications of The Nasdaq Stock Market LLC advising the Company that the Company has not paid its assessed fees required by Listing Rule 5250(f). The Company subsequently paid the outstanding fee. Annuncio • Apr 03
Embrace Change Acquisition Corp. announced delayed annual 10-K filing On 04/02/2024, Embrace Change Acquisition Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Board Change • Feb 14
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. CFO & Director Jennifer Yuan is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annuncio • Dec 27
Embrace Change Acquisition Corp. Receives Nasdaq Notice Regarding Late Form 10-Q Filing Embrace Change Acquisition Corp. (“Embrace Change” or the “Company”) announced that on December 22, 2023, it received a delinquency notification letter from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250(c)(1) (the “Rule”) because the Company did not timely file its Quarterly Report on Form 10-Q for the period ended September 30, 2023 (the “Form 10-Q”). The Notice has no immediate effect on the listing or trading of the Company's securities on the Nasdaq Stock Market. The Notice states that the Company has 60 calendar days from the date of the Notice, or February 20, 2024, to submit a plan to regain compliance with the Rule. If Nasdaq accepts the Company's plan to regain compliance, then Nasdaq may grant the Company up to 180 calendar days from the prescribed due date of the Form 10-Q, or May 20, 2024, to file the Form 10-Q to regain compliance. The Company continues to work diligently to finalize its Form 10-Q and plans to file its Form 10-Q as promptly as possible to regain compliance with the Rule. This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires disclosure of receipt of a deficiency notification. Annuncio • Nov 15
Embrace Change Acquisition Corp. announced delayed 10-Q filing On 11/14/2023, Embrace Change Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Oct 15
Embrace Change Acquisition Receives Non-Compliance Notice From Nasdaq On October 12, 2023, Embrace Change Acquisition Corp. received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with Listing Rule 5450(a)(2) of The Nasdaq Global Market in connection with its listing of the Company’s ordinary shares, par value $0.001 per share (the “Ordinary Shares”), which requires the Company to maintain a minimum of 400 total holders of its Ordinary Shares for continued listing on The Nasdaq Global Market. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on The Nasdaq Global Market. The Notice states that the Company has until November 27, 2023 to submit a plan to regain compliance with Listing Rule 5450(a)(2). If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from October 12, 2023, the date of the Notice, to evidence compliance with Listing Rule 5450(a)(2). If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal Nasdaq’s determination. Alternatively, the Company may consider applying for a transfer to The Nasdaq Capital Market. In order to transfer, the Company must submit an on-line transfer application, pay the $5,000 application fee, and meet The Nasdaq Capital Market’s continued listing requirements. Annuncio • Oct 05
Embrace Change Acquisition Corp., Annual General Meeting, Oct 20, 2023 Embrace Change Acquisition Corp., Annual General Meeting, Oct 20, 2023, at 10:00 US Eastern Standard Time. Location: 345 Park Ave offices of Loeb & Loeb LLP New York, New York United States Agenda: To consider and approve an amendment to Embrace Change’s Second Amended and Restated Memorandum and Articles of Association to remove the restriction of the Company to undertake an initial business combination with any entity or business based in, or with its principal or a majority of its business operations in the People’s Republic of China; to consider and discuss the appointment of Hang Zhou as a director until 2026 Annual General Meeting; to consider and discuss the appointment of MaloneBailey, LLP, as its independent registered public accounting firm for the year ending December 31, 2023; to consider and authorize the Chairman of the Annual General Meeting to adjourn the Annual General Meeting to a later date or dates as the Chairman of the Annual General Meeting may deem necessary or appropriate. New Risk • Aug 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$86.9m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$2.3m). Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (US$86.9m market cap). Annuncio • May 16
Embrace Change Acquisition Corp. announced delayed 10-Q filing On 05/15/2023, Embrace Change Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Dec 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Gary Xiao was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.