Haotian International Group Redirects Funds to Ethereum Investment

According to Foresight News, Haotian International Construction Investment Group Limited has announced a strategic shift in the allocation of funds raised from a special share placement. The net proceeds, amounting to approximately 49.25 million Hong Kong dollars, were initially designated for various purposes, including the development of an internet data center in Malaysia, general operational expenses, and loan repayment. Specifically, 72.66% of the funds were earmarked for the Malaysian data center project, 15.68% for operational expenses, and 11.66% for loan repayment. As of the announcement date, around 13.5 million Hong Kong dollars have been utilized for operational expenses and loan repayment, leaving approximately 35.75 million Hong Kong dollars unspent. On September 3, 2025, the company's board decided to redirect the remaining funds towards purchasing the cryptocurrency Ethereum. The board anticipates that the entire amount will be invested within a month.