Oyocar Group undergoes a sweeping transformation: a new owner takes a 78% stake, overhauls management, and signs an LOI to acquire an energy company

summarizeSummary

Hoo Boon Lee bought 78% of Oyocar Group for $565,000, took over as CEO, and signed a non-binding LOI to acquire Shanghai Zhongru Smart Energy Group — a complete change of control and business direction for the near-bankrupt shell company.

check_boxKey Events · Executive and Board Changes · OYCG

• Change in Control

  In a transaction that reshapes the company's ownership, Hoo Boon Lee acquired 11,985,000 shares — representing 78.14% of the outstanding stock — from the prior control persons for $565,000 in cash, securing voting control.

• Management Overhaul

  The prior officers, Jonathan Rafael Perez Peralta and Julissa de Jesus, resigned, and Hoo Boon Lee was appointed as sole director, President, CEO, Treasurer, and Secretary, consolidating all executive authority.

• Acquisition LOI Signed

  A non-binding Letter of Intent was signed to acquire Shanghai Zhongru Smart Energy Group, a Chinese energy storage company, in exchange for a combination of common and preferred stock, signaling a dramatic strategic shift.

• Financial Context

  According to the July 14, 2026 10-Q, the company has zero revenue, negative cash, and a going concern warning. The acquisition LOI represents a potential reverse merger to bring in an operating business.

auto_awesomeAnalysis · OYCG · Trade & Services

This 8-K reveals a complete overhaul of Oyocar Group. For $565,000 in cash, Hoo Boon Lee acquired 78.14% of the company, triggering a change in control. At the same time, the entire prior management team resigned, and Lee stepped in as sole director and CEO. Adding to the upheaval, the company entered into a non-binding Letter of Intent to acquire Shanghai Zhongru Smart Energy Group, a Chinese energy storage firm, in an all-stock transaction. For a business with zero revenue, negative cash, and a going concern warning, this is a high-stakes pivot — the new owner is effectively betting on a reverse merger to inject an operating business and potentially rescue the shell. The stock is trading near its 52-week high, suggesting the market may be pricing in the acquisition's potential, but the LOI is non-binding and the deal is far from certain.