Understanding the Market | YUNFENG FIN rises over 12%, doubling its stock price this month. YUNFENG SECURITIES has recently been approved to provide virtual asset trading services
YUNFENG FIN rose over 12% again, with its stock price doubling this month. As of the time of publication, it rose 10.77%, trading at HKD 6.79, with a transaction volume of HKD 217 million. On the news front, on September 9, YUNFENG FIN announced that its wholly-owned subsidiary YUNFENG Securities Co., Ltd. received approval from the Hong Kong Securities and Futures Commission on September 8 to upgrade its existing Type 1 (Securities Trading) regulated activity license. After this upgrade, YUNFENG Securities will be able to provide virtual asset trading services for retail and professional investors, allowing clients to trade digital assets directly on YUNFENG FIN's trading platform. Notably, in early September, YUNFENG FIN announced a strategic cooperation with ANT GROUP, where both parties will jointly explore cutting-edge fields such as real-world asset (RWA) tokenization and Web3 through the next-generation Layer 1 public chain Pharos platform. In addition, the company announced that its board of directors has approved the purchase of ETH in the open market as the company's reserve asset. The group has cumulatively purchased 10,000 ETH, with a total investment amount of USD 44 million, all funded from the group's internal cash reserves
According to Zhitong Finance APP, YUNFENG FIN (00376) has risen over 12% again, with its stock price doubling within the month. As of the time of writing, it is up 10.77%, priced at HKD 6.79, with a trading volume of HKD 217 million.
In terms of news, on September 9, YUNFENG FIN announced that its wholly-owned subsidiary, YUNFENG Securities Co., Ltd., received approval from the Hong Kong Securities and Futures Commission on September 8 to upgrade its existing Type 1 (Securities Trading) regulated activity license. After this upgrade, YUNFENG Securities will be able to provide virtual asset trading services for retail and professional investors, allowing customers to trade digital assets directly on YUNFENG FIN's trading platform.
It is worth noting that in early September, YUNFENG FIN announced a strategic cooperation with ANT GROUP to jointly explore cutting-edge fields such as the tokenization of real-world assets (RWA) and Web3 through the next-generation Layer 1 public chain Pharos platform. In addition, the company announced that its board of directors has approved the purchase of ETH in the open market as the company's reserve asset. The group has cumulatively purchased 10,000 ETH, with a total investment amount of USD 44 million, all funded from the group's internal cash reserves
