Business Context and Reporting Period
Company: DirectBooking Technology Co., Ltd.
Filing Type: Form 6-K (Current Report)
Reporting Date: August 11, 2026
Subject: Termination of a Securities Purchase Agreement (SPA) and Memorandum of Understanding (MOU) regarding the acquisition of China Wangmao Liquor Industry Group Co., Limited.
Key Financial Metrics and Transaction Details
- Transaction Value: Approximately US$12.7 million (purchase price paid in December 2025).
- Target Asset: 49% of total issued shares of China Wangmao Liquor Industry Group Co., Limited.
- Compensation for Delay: China Wangmao agreed to pay interest on the purchase price at an annual rate of 5.25% for the period the funds were held.
- Current Status: The Company has not received any shares of China Wangmao.
- Financial Impact: The filing does not provide specific revenue, profit, cash flow, or debt figures for the reporting period. It focuses solely on the termination of the specific investment transaction.
Material Changes
The primary material change is the formal termination of the SPA dated November 11, 2025, and the associated MOU dated August 18, 2025. This follows a period where the Company paid the full purchase price but failed to receive the equity interest due to "commercial considerations and unforeseen events."
Outlook, Risks, and Management Commentary
- Resolution: The termination was agreed upon following friendly negotiations.
- Remedy: China Wangmao has agreed to compensate the Company with interest (5.25% p.a.) on the held funds.
- Risks: The filing highlights the risk of failed acquisitions and the inability to secure agreed-upon equity interests despite payment.
- Unusual Items: The holding of significant cash (US$12.7 million) by a counterparty without transfer of title for approximately eight months constitutes an unusual item.
Investor Verification Checklist
- Verify the actual receipt of the US$12.7 million principal plus accrued interest from China Wangmao.
- Confirm the calculation of the 5.25% interest payment and the specific end date for the accrual period.
- Assess the impact of this failed acquisition on the Company's overall investment strategy and liquidity.
- Review any potential legal or reputational risks associated with the "unforeseen events" cited for the failure to transfer shares.