GCL Technology, one of China’s largest solar panel raw materials makers, and Yunfeng Financial Group, plan to take advantage of Hong Kong’s sustained stock market recovery to raise HK$6.6 billion (US$848.5 million) to fund their expansion. GCL agreed to sell 4.74 billion shares to Infini Capital Management, a Hong Kong and Abu Dhabi-based firm owned…
A subsidiary of Fosun International this week marked a new milestone in bringing traditional financial instruments onto a blockchain infrastructure, which it touted as Asia’s first “comprehensive” technical solution for stock performance-linked tokens. Fosun Wealth Holdings-backed start-up Finloop Finance Technology Holding collaborated with FinChain, a Web3 brand under Fosun Wealth, in creating the new solution…
A growing number of Hong Kong-listed firms are snapping up cryptocurrency on the back of rising bitcoin prices and the popularity of digital asset treasury (DAT) companies in the US. Investment bank China Renaissance, which helped fund many leading Chinese tech firms, and Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, are…
Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, said it was investing in the cryptocurrency ether as part of its reserve assets, as the company expands into Web3 amid Hong Kong’s digital asset initiative. To date, Hong Kong-listed Yunfeng has invested US$44 million to acquire 10,000 ether for its “strategic reserve”, according…