A wholly-owned subsidiary of Guofu Innovation intends to acquire fund equity from the company’s chairman to enter the virtual asset business

According to ChainCatcher news, Guofu Innovation, a Hong Kong-listed company, announced that its wholly-owned subsidiary, Fortune Genesis Holdings Limited, intends to acquire 1459.8151 shares of Summer Feeder Fund Limited (target fund) from Liu Zhiwei, the chairman, executive director and major shareholder of the company, with an acquisition value of $1.6 million. The Target Fund is an exempted company incorporated in the Cayman Islands with limited liability and established for the purpose of making investments. The investment target entity of the Target Fund is SEBA Bank AG, which is a limited liability company incorporated in Switzerland and a banking entity principally engaged in cryptocurrency-related banking services. According to the announcement, the acquisition is a good opportunity for the Group to enter the virtual asset business and apply blockchain technology to provide banking solutions and financial services. In mid-August, Innovation disclosed that its wholly-owned subsidiary, Fuqiang Securities, had submitted an application to the Hong Kong Securities Regulatory Commission for planning to engage in virtual asset-related activities under a license for Type 1 (securities trading) regulated activities. The provision of virtual asset trading services under the account arrangement, and the provision of virtual asset trading services by introducing eligible customers to licensed virtual asset platforms for direct transactions. Under the premise of obtaining the required regulatory approvals, Fortune Securities' expansion of its business to engage in virtual asset-related services is in line with the company's strategy of providing investors with more diversified services in order to develop new sources of income.