According to Foresight News, Hong Kong-listed company Guofu Innovations announced that its wholly-owned subsidiary, Fortune Genesis Holdings Limited, plans to acquire 1,459.8151 shares of Summer Feeder Fund Limited from the company's chairman, executive director, and major shareholder, Liu Zhiwei. The acquisition is valued at $1.6 million. Summer Feeder Fund Limited is an exempted limited company registered in the Cayman Islands, established for investment purposes. The target investment entity of the fund is SEBA Bank AG, a Swiss-registered joint-stock company primarily engaged in cryptocurrency-related banking services.
The announcement states that the acquisition is an opportunity for the group to enter the virtual asset business and apply blockchain technology to provide banking solutions and financial services. In mid-August, Guofu Innovations disclosed that its wholly-owned subsidiary, Fuqiang Securities, had submitted an application to the Hong Kong Securities and Futures Commission to engage in virtual asset-related activities under a Type 1 (securities trading) regulated activity license. Fuqiang Securities plans to provide virtual asset trading services under a comprehensive account arrangement and offer virtual asset trading services by introducing qualified clients to licensed virtual asset platforms for direct transactions. Subject to obtaining the required regulatory approvals, Fuqiang Securities will expand its business to engage in virtual asset-related services, in line with the company's strategy to provide more diversified services to investors and explore new sources of revenue.