The Hong Kong Securities and Futures Commission named Guofu Innovation as having a highly concentrated equity structure and was approved to provide virtual asset trading services last month.

According to market news, the Hong Kong Securities and Futures Commission said that it had recently inquired about the equity distribution of Guofu Innovation. The results showed that as of August 9 this year, the company's 20 shareholders held a total of more than 3.55 billion shares (equivalent to 49.93% of the issued share capital). The relevant shares, together with the more than 2.89 billion shares held by the company's three major shareholders (accounting for 40.62% of the issued share capital), are equivalent to 90.55% of Guofu Innovation's issued share capital. The Hong Kong Securities and Futures Commission pointed out that given the high concentration of equity in a small number of shareholders, even if a small number of shares are traded, its stock price may fluctuate significantly, and reminded shareholders and potential investors to act prudently when buying and selling. Just last month, Guofu Innovation announced that its wholly-owned subsidiary, Fuqiang Securities, had obtained the consent of the Hong Kong Securities and Futures Commission to provide virtual asset trading services to professional investor clients through the operation of a comprehensive account opened and maintained on the Securities and Futures Commission's licensed platform. (Aastocks)