The founder of Hong Kong Asia Holdings sold his 70.26% stake to several cryptocurrency investors for HK$126 million last month.

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The founder of Hong Kong Asia Holdings sold his 70.26% stake to several cryptocurrency investors for HK$126 million last month.

02-17 02:06

Odaily News Hong Kong SIM card retailer Asia Pacific Holdings previously disclosed that it had purchased 1 bitcoin, but its stock price had already risen before the news was disclosed. After rising 32.8% on Thursday last week, it soared another 67.7% on Friday, a cumulative increase of 1.23 times in two days.
According to market news, the founder and former major shareholder of Hong Kong Asia Holdings, Xiao Mulong, sold his 70.26% stake to several investors with cryptocurrency backgrounds, including 210K Capital, Sora Valkyrie, Top Legend and Hengda Investment, for HK$126 million last month. The new shareholder also recently appointed several relevant personnel to join the board of directors of Hong Kong Asia Holdings.

Hong Kong Asia Holdings is mainly engaged in the wholesale and retail of SIM cards and stored-value cards. It has 7 self-operated retail stores in Hong Kong. As of the end of September last year, the interim revenue was 98.54 million yuan, a year-on-year decrease of 23.6%; the net profit was 690,000 yuan, a sharp drop of 93.6%, and it held 62.3 million yuan in bank balances and cash. (Sing Tao Daily)

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