LEGENDARY EDU plans to invest in cryptocurrencies to seize the rising potential of the cryptocurrency market, thereby enhancing shareholder returns

According to the Zhitong Finance APP, LEGENDARY EDU (08195) announced that in 2024, driven by favorable policy changes and macroeconomic trends, the virtual asset market will experience unprecedented growth, with cryptocurrency prices soaring and significant capital inflows recorded. The company's board of directors is optimistic about the strong momentum in the cryptocurrency market, which is attributed to supportive regulatory developments, increased institutional investment, the expansion of cryptocurrency exchange-traded fund products, the widespread application brought about by improved accessibility and awareness, and the growing share of Asian cryptocurrency developers driving higher retail penetration in Asia. Therefore, the company plans to invest in cryptocurrencies (potential investment) to seize the upward potential of the cryptocurrency market, thereby enhancing shareholder returns. The total amount of potential investment will not exceed HKD 30 million, which will be allocated by the group using internal resources and will be conducted in the public market of regulated and licensed virtual asset trading platforms. If the potential investment is realized, the company will comply with the relevant provisions under Chapter 19 of the GEM Listing Rules of The Stock Exchange of Hong Kong Limited. The company has established an Investment Committee (Investment Committee) and set a written terms of reference, effective from June 11, 2025, to strengthen investment decision-making and risk management processes, and to enhance the efficiency and quality of major investment decisions, especially considering the group's investments in cryptocurrencies and virtual assets. Executive Director Mr. Yuan Yushen has been appointed as the chairman of the Investment Committee. Non-executive Director Dr. Deng Shengxing and Independent Non-executive Director Mr. Zhong Zhankun have been appointed as members of the Investment Committee. The Investment Committee will be responsible for reviewing and providing recommendations to the board of directors regarding suitable investments, investment strategies, and the management of such assets. In addition, the Investment Committee will evaluate, approve, and provide recommendations on various investment opportunities presented by the group's management team