China Renaissance Appoints New Independent Non-Executive Director as It Expands into the Digital Currency Sector
HONG KONG, June 26, 2025 /PRNewswire/ -- This announcement is made by China Renaissance Holdings Limited (the "Company") on a voluntary basis. For the purpose of this announcement, the term the "Group" is defined as the Company and its non-People's Republic of China incorporated subsidiaries.
The board of directors (the "Board") of the Company wishes to inform the shareholders and potential investors of the Company that the Board, after careful consideration, has approved China Renaissance's expansion into the Web3.0 and the cryptocurrency assets sector, while consolidating its current businesses, and approved a budget of a total amount of US$100 million over the next two years for the Group to develop its Web3.0 business and to invest in cryptocurrency assets (the "Cryptocurrency Assets Investment Plan").
The Cryptocurrency Assets Investment Plan marks the Group's first step into the realms of Web3.0 and cryptocurrency assets. It aims to align with the Hong Kong Government's recent series of proactive policies supporting the development of Web3.0 and the cryptocurrency asset industries, driving innovation in the technology sector. The Group believes that Web3.0 and cryptocurrency assets possess immense future growth potential and align with global financial and commercial development trends. Building on the successful investment by the Group's fund in Circle Internet Group, as well as the provision of listing and multiple rounds of financing-related services to numerous leading companies in the cryptocurrency industry, the Group will intensify its investment and development efforts in stablecoins, Real-World Assets (RWA), and the entire ecosystem surrounding the cryptocurrency value chain. The Group will also actively pursue the application and upgrading of the Group's licenses for related businesses with a view to becoming a bridge connecting the Web2 and Web3 worlds, leading traditional finance to become a core driving force in global Web3 investments. The Group is of the view that, by participating in transformative technologies proactively and advancing investments prudently, the Group not only responds to the Hong Kong Government's newly introduced policies and leverages the favourable current environment, but also enhances long-term shareholder value while creating important opportunities for exploring emerging markets.
The Cryptocurrency Assets Investment Plan will be funded by the Group's internal resources and cash reserves and will be made at the Group's discretion in accordance with the market conditions, the Group's business development and cashflow levels, in a prudent manner.
The Company will comply with the relevant disclosure requirements under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to the Group's investment in cryptocurrency assets.
Shareholders and potential investors of the Company are reminded that any cryptocurrency asset that the Group may purchase/sell under the Cryptocurrency Assets Investment Plan will depend on market conditions and will be made at the Group's discretion. The cryptocurrency market is volatile and the prices of cryptocurrency assets may be subject to fluctuations. There is no assurance as to the timing, quantity, type or price of any cryptocurrency asset to be purchased/sold by the Group. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.
SOURCE China Renaissance
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