According to Techub News, New Fire Technology Holdings (01611) issued an announcement that the Hong Kong Securities and Futures Commission (SFC) has approved the company's wholly-owned subsidiary New Fire Asset Management (Hong Kong) Co., Ltd. to carry out regulated activities of Type 1 (securities trading) as defined in Schedule 5 of the Securities and Futures Ordinance (SFO) Chapter 571 of the Laws of Hong Kong, effective from July 31, 2024. At the same time, as a Type 4 (providing advice on securities) license holder defined in Schedule 5 of the Securities and Futures Ordinance, the SFC further approved New Fire Asset Management to provide virtual asset consulting services under Type 4 license, effective from July 31, 2024. The above approval is subject to New Fire Asset Management's continued compliance with the licensing conditions, including that New Fire Asset Management cannot hold client assets and that New Fire Asset Management can only provide services to professional investors. As of the date of the announcement, New Fire Asset Management has not yet started any business related to securities trading and providing virtual asset consulting services.