Guofu Innovation plans to invest HK$5 million in cryptocurrency and virtual asset funds

Guofu Innovation (0290.HK) announced on March 27 that its board of directors has approved a budget of HK$5 million for the group to make investments related to cryptocurrency and virtual asset funds within the next year from the date of this announcement. The budget will mainly 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. fund managers are authorized to engage in Type 9 regulated activities under the Securities and Futures Ordinance) , and are approved to invest more than 10% of the total asset value of the investment portfolio in virtual assets or virtual asset funds that invest indirectly in virtual assets). The board of directors believes that investing in the field of cryptocurrency and virtual assets is in line with the group’s strategic goal of actively deploying in the Web 3.0 business field, will enable the group to better adapt to changing market conditions, and will help the group’s business transform from the traditional financial industry to innovative finance and Positive transformation of science and technology finance.