Hitek signs deal to acquire digital marketing firm

XIAMEN, China, August 3, 2026 /PRNewswire/ -- Hitek Global Inc. (Nasdaq: HKIT) (the "Company" or "Hitek"), an information technology consulting and solutions provider, today announced that, on August 3, 2026, it entered into a Share Purchase Agreement (the "SPA") with MAI THỊ MỸ ÚT (the "Seller") and certain other parties, pursuant to which Hitek will acquire from the Seller all of the issued and outstanding shares of Ju Fu Limited, a business company incorporated in the British Virgin Islands ("Ju Fu").

Ju Fu, through its wholly owned subsidiaries, Fourth Coco Technology Limited and Beijing Fourth Coco Technology Co., Ltd. (北京四个椰子信息技术有限公司), operates an advertising and digital marketing business under the "Beijing Fourth Coco" (四个椰子) brand, providing media planning and buying, advertising campaign management, performance marketing, data analytics, technology support and related services.

Under the SPA, the aggregate purchase price is US$20,000,000, consisting of (i) aggregate cash consideration of up to US$14,000,000, comprising US$11,000,000 payable at the two closings and up to US$3,000,000 in deferred cash consideration subject to the achievement of specified performance targets, and (ii) 4,000,000 Class A ordinary shares of the Company. Such consideration shares will be subject to the performance-based lock-up, release, forfeiture, cancellation and sale-proceeds limitations set forth in the SPA.

Huang Xiaoyang, Chief Executive Officer of Hitek, stated, "We are delighted to enter into this SPA in connection with the acquisition of Ju Fu. This acquisition will help the Company expand into new business segments."

The transaction is expected to close in two stages, subject to the satisfaction or waiver of customary closing conditions. The first closing is expected to occur on or around August 11, 2026.

For more information, please visit the Company's website at http://www.xmhitek.com/.