Guofu Innovation plans to invest HKD 5 million to purchase cryptocurrency and virtual asset funds

Wisdom Finance APP news, Guofu Innovation (00290) announced that the board of directors has approved a budget of HKD 5 million for the group to invest in cryptocurrency and virtual asset funds within the next year starting from the date of this announcement. The budget will mainly be used to purchase cryptocurrencies (mainly including Bitcoin (BTC)) on regulated and licensed trading platforms; and subscribe to Hong Kong compliant virtual asset funds (i.e. fund managers approved to engage in Type 9 regulated activities under the Securities and Futures Ordinance, and authorized to invest more than 10% of the total asset value of the portfolio in virtual assets or indirectly invest in virtual asset funds).

The board believes that investing in the field of cryptocurrency and virtual assets aligns with the group's strategic goal of actively positioning itself in the Web 3.0 business sector. This will enable the group to better adapt to the constantly changing market conditions and facilitate the positive transformation of the group's business from traditional finance to innovative finance and technology finance