The transaction, initially disclosed in May, involved a stock-purchase agreement with PMA Technology Holdings, Legend Master Development, and F.F.Formation. To fund the deal, Ming Shing issued three unsecured convertible promissory notes totaling the full $110 million purchase price. Before this post-market rally, the company’s stock had already climbed 32% since the start of the year.

By integrating PMA Nano Carbon Tech, Ming Shing gains control over a business focused on the research and development of graphene heating materials and intelligent temperature control systems. Management indicated that these thermal management solutions are designed for artificial intelligence infrastructure, specifically targeting GPU cooling hardware. This acquisition shifts the company's focus from traditional services like plastering and bricklaying toward the specialized technology hardware market.