Xinhua Technology Initiates $5 Million Bitcoin Acquisition Plan

According to ChainCatcher, Hong Kong-listed company Xinhua Technology (1611.HK) has announced the commencement of a Bitcoin purchase plan worth up to $5 million (approximately HKD 39 million). In the first phase, the company acquired around 24.29 Bitcoins, totaling approximately $2 million, with an average price of about $82,338 per Bitcoin. This purchase represents nearly half of the planned amount. The company stated that since the relevant percentage is below 5%, the transaction does not constitute a notifiable transaction under Chapter 14 of the Listing Rules. Further disclosures will be made as required by the regulations.