Sharing Economy International Inc. Completes Reverse Acquisition of Light Across

What Happened

• On August 2, 2026 Sharing Economy International Inc. (SEII) entered a Share Exchange Agreement and issued 4,998,838,436 shares of common stock in exchange for all outstanding shares of Light Across, Inc., a Delaware EV engineering, design and manufacturing company. The issuance represented 80% of SEII’s outstanding common stock.
• The transaction was accounted for as a reverse acquisition (Light Across treated as the acquirer). As a result Light Across is now a wholly‑owned subsidiary and SEII is no longer a shell company. Light Across’s business (EV platform engineering/design and planned U.S. production) is now SEII’s principal business.
• Key management: Ximing Huang (formerly Light Across CEO) and Johnny Chen (formerly Light Across CFO) remain in their Light Across roles and, after the exchange, beneficially own approximately 65.6% and 11.5% of SEII common stock, respectively.

Key Details

• Shares issued: 4,998,838,436 common shares (issued to 16 Light Across stockholders) = 80% of SEII outstanding shares post‑transaction.
• Ownership after closing: Ximing Huang acquired ~4,103,939,641 shares (≈65.6%); Johnny Chen acquired ~724,224,643 shares (≈11.5%); remaining 14 Light Across holders hold ~170,674,152 shares (~2.73%).
• Light Across financial snapshot (unaudited as of Mar 31, 2026 / fiscal 2025): Cash $99,372; Total assets $924,349; Total liabilities $6,920,131; Stockholders’ deficit $(626,068). For 2025 Light Across reported revenue $80,150 and net loss $(102,247). Three months ended Mar 31, 2026: revenue $627,818 and net loss $174,794.
• Company risks noted: auditors expressed substantial doubt about going concern; Light Across has not yet manufactured vehicles for commercial sale and will require additional financing to pursue production and operations.

Why It Matters

• Control and strategy: The exchange gives Light Across former owners (led by CEO Ximing Huang) majority control of SEII (≈65.6%), meaning SEII’s strategy and filings will now center on Light Across’s EV engineering and platform plans.
• Financial position and execution risk: Light Across’s balance sheet shows limited cash, substantial liabilities and operating losses; the company needs additional capital to begin vehicle production and to support SEC reporting requirements—this increases execution and financing risk for investors.
• Investment implications: Investors should view SEII as an early‑stage EV engineering and platform company post‑reverse acquisition, not as a mature manufacturer. The filing discloses significant operational and liquidity risks (including a going‑concern note), so potential investors should consider the high risk and need for future financing before investing.