Qian Fenglei Restructures Capital Market with "FO-X" Strategy: Acquires 600 Million HKD Stake to Take Control of WellCell, Aiming for Trillion-Dollar Web3 Ecosystem
HONG KONG, May 9, 2025 /PRNewswire/ -- When traditional capital meets the Web3.0 wave, a disruptive capital experiment is quietly unfolding in Hong Kong's stock market. On May 9, 2025, WellCell (02477.HK), a Hong Kong-listed company, announced that Heng Feng Limited, owned by Zhejiang entrepreneur Qian Fenglei, had completed a 600 million HKD acquisition of a 10% stake in the company. This move raised Heng Feng's total ownership to 29.9% (total investment: 1.05 billion HKD), making it the largest shareholder. The strategic takeover marks a new phase in Qian's long-awaited "FO-X" strategy.
Capital Moves: Three Strategic Steps to Becoming the Largest Shareholder
Heng Feng Limited's path to controlling WellCell exemplifies textbook-level capital operations:
1. First Victory
In January 2025, Heng Feng acquired 19.9% of WellCell at HKD 4.52 per share (a 29% discount to market price), costing 450 million HKD. This instantly made it the second-largest shareholder. The price was dubbed a "30% discount" by the market, laying groundwork for future acquisitions. On the first trading day after the deal, WellCell's stock price soared 87%, sparking heated discussions.
2. Second Push
Just three months later, Heng Feng boosted its stake by another 10% at HKD 6 per share, raising its total ownership to 29.9% and surpassing the original controlling shareholder (whose stake fell to 16.6%). This move positioned Heng Feng to gain board influence and integrate WellCell into its Web3.0 ecosystem.
3. All-Star Shareholder Lineup
Heng Feng's initial funding round of 100 million USD included 50 million USD from Qian himself and contributions from 50 high-profile business tycoons. This blend of traditional capital and Web3 newcomers provides robust resources to fuel ecosystem growth.
Decoding Heng Feng's "FO-X" Strategy: Three Ecosystems Driving a Trillion-Dollar Market
Qian Fenglei 's ambition extends beyond controlling a single listed company. His core goal is to redefine the intersection of traditional finance and capital markets through the "FO-X" strategy, building a Web3 ecosystem closed-loop spanning social interaction, payments, asset management, and digital art.
1. Fochat: Flagship Social-Driven Decentralized Exchange
As a core gateway for 1 billion users into Web3, Fochat has amassed over a million users. Key innovations include:
- Social Interaction as Trading: Users engage in asset transfers via chats, live streams, and short videos. Blockchain operations are simplified into visual guides, enabling "learn, trade, and socialize simultaneously" with zero barriers.
- Future Expansion: Plans to integrate crypto trading, NFTs, and other DeFi services, positioning Fochat as a "super portal" for decentralized finance.
2. Asset Management
Heng Feng's licensed asset management subsidiary adopts a dual-engine model ("asset management + professional consulting"). It offers tailored solutions for wealth growth and business upgrades through strategic planning, M&A advisory, and portfolio optimization.
3. Fopay: Global Cross-Border Payment Disruptor
Dubbed the "Alipay of Crypto," Fopay leverages blockchain for 24/7 cross-border settlements, slashing costs and transaction times. Covering major global economies, it supports real-time crypto-to-fiat conversions for everyday spending, entertainment tipping, and remittances.
Hong Kong's Role: A Policy-Driven Experiment
Hong Kong's embrace of Web3.0 aligns perfectly with Hengfeng's ambitions:
- Regulatory Support: Openness to virtual asset trading creates a compliant ecosystem for FO-X.
- Market Validation: Since Heng Feng's entry, WellCell's stock price has surged over 200%, peaking at a 13 billion HKD market cap—a vote of confidence from investors.
In a stagnant traditional financial landscape, Fochat's social-driven Web3 adoption and Fopay's technological disruption could serve as a bellwether for the next decade of global market shifts.
As Qian Fenglei remarked: "The future belongs to those who find order in chaos." For investors, this moment is not just about tracking stock prices—it's about seizing the historic opportunity where Web3 and traditional economies converge.
SOURCE Heng Feng Limited
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