ChainCatcher message, Guofu Innovation announced that the board has approved the company to further increase its investment quota in cryptocurrency and virtual asset funds. The company has conducted a series of transactions in the open market from March 2024 to August 2024 to purchase Bitcoin worth approximately HKD 36 million (excluding transaction costs). The aforementioned Bitcoin purchases are funded by the proceeds from the group's fundraising activities and internal resources.On the other hand, the group has been actively investing in the Web 3.0 field, seeking and investing in Web 3.0 projects and startups that have the potential to disrupt traditional industries and possess growth prospects, exploring the application prospects of Web 3.0 in financial technology. As an important component in building the Web 3.0 internet ecosystem and a circulating token based on blockchain technology, cryptocurrency will be a significant foundation for the group’s active involvement in the Web 3.0 field. The group will also actively empower the construction of its business growth curve in the Web 3.0 field through the purchase and holding of cryptocurrencies.

ChainCatcher news, the board of Guofu Innovation Co., Ltd. announced that its wholly-owned subsidiary, Fuqiang Securities Co., Ltd., has obtained the approval from the Hong Kong Securities and Futures Commission (SFC) to provide virtual asset trading services to professional investors. Guofu Innovation stated that this move will expand the customer base, offer more diversified services, bring new revenue growth points, and promote the synergy among various business segments of the group, contributing to the achievement of long-term development goals.

ChainCatcher news, according to a report by the Financial界, Guofu Innovation (00290.HK) announced that its wholly-owned subsidiary, Fuqiang Securities Limited, has obtained approval from the Hong Kong Securities and Futures Commission to provide virtual asset trading services to professional investor clients through the operation of a comprehensive account established and maintained on the SFC licensed platform, subject to the terms and conditions set by the SFC.

ChainCatcher news, Guofu Innovation announced that its board has approved a budget of HKD 5 million for the group's investments related to cryptocurrency and virtual asset funds in the year following the date of this announcement. This budget will primarily be used to purchase cryptocurrencies (mainly including Bitcoin) on regulated and licensed trading platforms; and to subscribe to Hong Kong compliant virtual asset funds (i.e., virtual asset funds whose fund managers are recognized to engage in regulated activities under the Securities and Futures Ordinance, and are approved to invest more than 10% of the total asset value of the portfolio in virtual assets or indirectly invest in virtual assets).

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.