• It's like a publicly traded private equity firm, but instead of managing a portfolio, it's designed to acquire just one private company and bring it to the stock market.
• Imagine a publicly listed company that's essentially an empty shell with a large bank account, actively searching for a private business to merge with and make its own, thereby taking that business public.
• Think of it as a specialized, publicly traded 'blank check' company that provides a pathway for a private business to go public by merging with it, rather than undertaking a traditional IPO.

• Business Combination Facilitation: AMC Robotics is a blank check company whose primary purpose is to identify and complete a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more target businesses.

AMC Robotics (AMCI) is a blank check company, also known as a Special Purpose Acquisition Company (SPAC). As described in the background, it was incorporated for the purpose of effecting a business combination with one or more target businesses. The company has explicitly stated:

• "We have generated no revenues to date and we do not expect that we will generate operating revenues until, at the earliest, we consummate our initial business combination."
• "We have not selected any specific target business and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any target business with respect to an initial business combination with us."

Given this information, AMC Robotics currently has no operations, products, or services. Therefore, it does not have any major customers.

Shengwei (Sean) Da - Chief Executive Officer

Mr. Da will serve as Chairman of Surviving PubCo's board of directors and as its Chief Executive Officer upon the Closing of the business combination. He is the founder of AMC and the “YI” brand, having served as its Chairman of the Board of Directors since October 2021. Prior to founding AMC, he founded Kami Vision in 2019, an AI-based care services provider, where he also served as Executive Chairman. From April 2014 to January 2021, Mr. Da was Chairman and Chief Executive Officer at YI Technology, Inc., a provider of internet protocol cameras. Early in his career, he held the role of Member of Technical Staff in the High Speed Data Converter Group at Maxim Integrated Products from June 2000 to May 2002.

Min Ma - VP, Finance (will serve as Chief Financial Officer)

Mr. Ma will serve as VP, Finance, of Surviving PubCo upon the Closing, and has been VP, Finance, of AMC since March 2024. He brings over 20 years of experience in venture capital, finance, and technology. Most recently, from January 2019 to October 2023, Mr. Ma served as Chief Financial Officer and a member of the founding team at Chowbus, a technology-driven SaaS company. Previously, from January 2018 to December 2018, he was Executive Director at Fosun International, where he led investments in early-stage technology companies. Before Fosun, he held the position of Vice President at Fidelity Investments, focusing on private equity investments in the technology domain, where he drove capital deployment strategies and portfolio value creation.

Failure to consummate an initial business combination. AMC Robotics is a blank check company with no current operations or revenues, and its entire business model is dependent on successfully completing a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more target businesses. The company faces significant hurdles in identifying and completing such a transaction. Its intent to focus on target businesses in Asia is constrained by its exclusion of entities with China operations consolidated through a variable interest entity (VIE) structure, and by the complexities of relevant PRC laws and regulations that may limit acquisition candidates and require difficult-to-obtain regulatory approvals for China-based targets. Additionally, the significant ties of a majority of its officers, directors, and its sponsor's major shareholder to China may make the company a less attractive partner for potential target companies outside the PRC, particularly in the United States, where a combination could be subject to review or prohibition by a U.S. government entity. This could further limit its pool of acquisition candidates and prevent the completion of an initial business combination. In the event of liquidation due to the inability to complete a business combination, investors would lose their investment opportunity and their financial investment in the rights.

The significant ties of AMC Robotics' management team to China may make the company a less attractive partner for potential target companies outside the PRC. This could lead to increased scrutiny, governmental review, or even prohibition of a business combination with a U.S. target company. Such challenges could prevent AMC Robotics from completing an initial business combination within the required timeframe, potentially forcing liquidation and resulting in a loss of investment for shareholders.