Guofu Innovation, a wholly-owned subsidiary, plans to acquire fund equity from the company's chairman to enter the virtual asset business

ChainCatcher news, the Hong Kong-listed company Guofu Innovation announced that its wholly-owned subsidiary Fortune Genesis Holdings Limited intends to acquire 1,459.8151 shares of Summer Feeder Fund Limited (the target fund) from the company's chairman, executive director, and major shareholder Liu Zhiwei, with a purchase value of 1.6 million USD. The target fund is an exempt company registered in the Cayman Islands, established for investment purposes. The investment target entity of the target fund is SEBA Bank AG, which is a joint-stock company registered in Switzerland, primarily engaged in banking services related to cryptocurrencies.

The announcement stated that the acquisition represents a good opportunity for the group to enter the virtual asset business, applying blockchain technology to provide banking solutions and financial services.

In mid-August, Innovation disclosed that its wholly-owned subsidiary Fuqiang Securities has submitted an application to the Hong Kong Securities and Futures Commission for a license to engage in regulated activities under Type 1 (dealing in securities) related to virtual assets. Fuqiang Securities plans to provide virtual asset trading services under a comprehensive account arrangement and to offer virtual asset trading services by introducing qualified clients for direct trading on licensed virtual asset platforms. Subject to obtaining the necessary regulatory approvals, Fuqiang Securities will expand its business to engage in virtual asset-related services in line with the company's strategy to provide investors with more diversified services and to explore new sources of revenue.