DL Holdings intends to acquire a Hong Kong-based artificial intelligence data analysis company at a valuation of US$10 million

HONG KONG, Dec. 11, 2023 /PRNewswire/ -- DL Holdings Group Limited ("DL Holdings" or the "Company", together with its subsidiaries, the "Group", Stock Code: 1709.HK) is pleased to announce that on December 8, 2023, its wholly-owned subsidiary DL Digital Family Office has entered into an acquisition MOU with Chain of Demand, a leading artificial intelligence data analysis and financial services company in Hong Kong. The MOU outlines the acquisition of all the equity, technology, and intellectual property rights of Chain of Demand in exchange for shares, at a consideration not exceeding US$10 million. The objective of this acquisition is to further enhance the development of the artificial intelligence family office system (DL-GPT) and its related applications, while advancing the digitalization of the Group's transformation strategy. This strategy aims to establish a global ecosystem for artificial intelligence asset management and wealth inheritance.

In mid-November 2023, DL Holdings officially launched the global AI family office, with a year of preparation. This is an expansion of the existing digital family office platform and aims to accelerate the development of artificial intelligence-driven wealth management services. Recognizing the rapid pace of technological advancements, DL Holdings intends to tap into a wider range of opportunities and fields. To support this endeavor, DL Holdings had previously established the DL Institute for New Economic Research, which focuses on WEB 3.0, digital currency, and artificial intelligence. Also, DL Holdings will publish a book titled "e-HKD: Building Hong Kong's New Financial System with Web 3.0" to explore the necessary conditions and technological foundations comprehensively, scientifically, and systematically for establishing a virtual asset center in Hong Kong, to further promote the Hong Kong SAR government's policy support in the field of artificial intelligence technology and the wealth management industry.

Andy Chen, Chairman of DL Holdings Group, stated, "By consolidating the foundation of the traditional multi-family office business, DL Holdings has gained a first-mover advantage in the 'second curve' of corporate development, that is reshaping the underlying logic of the wealth management industry development in the second curve through trend analysis in the global distribution and redistribution of wealth. Facing a more complex and volatile political environment and economic fluctuations, the population, profiles, needs, preferences, as well as the management approaches and methods of wealth owners, are undergoing essential changes, driven by the advancements of technology and the improvement of human cognition. Only by creating a decentralized AI platform based on large models and big data can it carry and serve a larger population in the future, allowing wealth to be more private, stable, and continued in a unique way."

The company targeted for acquisition, Chain of Demand, is situated in Hong Kong Cyberport. Its primary activities revolve around "the development of data analysis platforms utilizing artificial intelligence" and "providing information technology services for financial technology solutions". The company has accumulated extensive experience in building and expanding digitalization and artificial intelligence technologies. The core management team shares a common vision and goals with DL Holdings, particularly in areas such as digital transformation, data technology and growth within the financial services and B2C sectors.

This acquisition will play a crucial role in strengthening the AI infrastructure of DL AI Family Office and wealth management. By combining DL Holdings' proprietary database, investment models, case analysis, and core perspectives accumulated over the past decade in investment management, as well as interacting and cultivating with users through the anthropomorphic digital avatar, this will help DL Holdings to be a prominent listed group in Hong Kong and the Asia-Pacific region, which has realized AI family office.

About DL Holdings Group Limited (Stock Code: 1709.HK)
DL Holdings Group (1709.HK) is a Hong Kong-listed asset management and financial services platform with a core focus on investment banking business, covering securities trading, financial consulting, multi-strategy investment fund management, investment research, financial loans and other financial services. Its subsidiary, DL Securities, holds SFC licenses for Type 1 (securities trading), Type 4 (advising on securities) and Type 6 (advising on corporate financing) regulated activities. The Group's subsidiary, DL Capital, mainly provides asset management services, holding SFC licenses for Type 4 (advising on securities) and Type 9 (asset management) regulated activities. The Group's subsidiary, ONE Advisory, provides one-stop, bespoke and comprehensive global identity planning consulting services and solutions for high-net-worth individuals and families. The listed company also holds a Singapore RFMC fund license and a Cayman Islands SIBL fund license. The Group has established 18 limited partnership funds in Hong Kong, which mainly invest in private equity. The Group's subsidiary, Seazon Pacific, is committed to providing overall solutions for supply chain management.

SOURCE DL HOLDINGS GROUP LIMITED