AlphaVest Acquisition Corp, a special purpose acquisition company, announced that it has signed a merger agreement with Wanshun Technology Industry Group. AV Merger Sub, a wholly-owned subsidiary of ATMV, will merge with Wanshun Technology. According to the agreement, Wanshun Technology's valuation is about 300 million US dollars in this transaction. After meeting Wanshun Technology's specific performance target with revenue of 4.5 billion yuan in 2023 or obtaining financing requirements of at least US$215 million before delivery, ATMV will release additional shares worth about US$4 billion to Wanshun Technology shareholders, and Wanshun Technology's valuation will reach about US$4.3 billion. The merger deal is awaiting approval from regulators and shareholders of both parties, and is expected to be completed in the first half of 2024, as well as meeting a number of delivery conditions. After the business merger is completed, the merged company is expected to change its name to “Wanshun Technology” and continue to be listed on the NASDAQ to trade using the new stock code. Wanshun Technology's current management team will continue to lead the merged company.