HK Asia Holdings' board of directors undergoes major changes, actively promoting Bitcoin strategy

The board of directors of HK Asia Holdings Limited (Hong Kong Asia Holdings Limited) has undergone a major reshuffle, with the addition of important members from investor Sora Ventures and the owner of the BTC magazine BTC Inc., symbolizing the implementation of a BTC strategy.

Sora Ventures Deepens Investment in HK Asia Holdings

UTXO Management, in conjunction with Sora Ventures and other partners, announced at the end of January the successful acquisition of a majority stake in HK Asia Holdings Limited (stock code: 1723.HK), a company listed on the Hong Kong Stock Exchange. They plan to rebrand the company as "Moon Inc." and further explore opportunities in cryptocurrency investment and Web 3.0 innovation.

(Micro-strategy in Hong Kong stocks? UTXO Management partners with Sora Ventures to complete a major acquisition, and HK Asia Holdings will be rebranded as Moon)

According to CryptoSlate, starting from February 12, 2025, the board of directors of HK Asia Holdings Limited will undergo significant changes, with the new board being composed of important members from Sora Ventures and the owner of the BTC magazine BTC Inc., marking a change in the company's management.

The new board of directors consists of 12 members, covering executive, non-executive, and independent non-executive positions. The document lists David Bailey and John Riggins from BTC Inc., the owner of the BTC magazine, Jason Fang from Sora Ventures, Chairman Siu Muk Lung, Chung Chi Fai, and Mary Wong as the executive director.

HK Asia Holdings is mainly engaged in the wholesale and retail business of prepaid products (such as SIM cards and stored-value vouchers) in Hong Kong. The stock price has been sluggish for a long time, hovering around HKD 0.3 this year, but since the announcement of the transformation, the stock price has risen to HKD 1.4.

Metaplanet in Japan Has Successful Precedent

Sora Ventures and UTXO Management have already introduced a BTC strategy through the Japanese listed company Metaplanet last year, achieving significant success. Metaplanet recently announced its latest financial report, marking its first profit in six years, with the stock price having increased by 4,330% within a year.

(Metaplanet's financial report sees profitability, with option trading creating BTC revenue as an important source of profit)

However, in Japan, the capital gains tax on direct BTC purchases can be as high as 55%, so investing in stocks like Metaplanet through personal savings accounts (NISA) is a cheaper and more convenient option for small-scale and first-time buyers. Hong Kong itself does not levy capital gains tax on stocks, and the crypto-related regulations are not yet in place, so whether there are sufficient incentives to attract investors remains to be seen.