As of October 23, HAO TIAN INTL has purchased a total of 646 units of Ethereum
As of October 23, HAO TIAN INTL has purchased 646 units of Ethereum through the open market, at a total cost of approximately 2.71 million USD. The company's board of directors pointed out that with the development of blockchain technology, the application of cryptocurrencies on social platforms is becoming increasingly widespread. As a mainstream crypto asset, Ethereum has gained legal support and recognition, and its trading volume is expected to continue to grow, indicating overall appreciation potential
According to the announcement from HAO TIAN INTL (01341), as of the date of this announcement, the company has purchased a total of 646 units of Ethereum through open market transactions, at a total cost of approximately USD 2.71 million (excluding transaction costs).
The cost of the acquisition is determined based on the buy and sell prices of Ethereum reported in the open market and is funded by the group's internal resources generated during its regular business operations.
The announcement states that the board of directors has observed that with the continuous development and widespread application of blockchain technology, the use of cryptocurrencies on social platforms (especially decentralized social networks) is becoming increasingly widespread, in-depth, and diversified. As a mainstream crypto asset, Ethereum not only has legal support from Hong Kong's "Stablecoin Ordinance" but is also recognized by the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act," with its compliance endorsed by two major global financial markets. In addition, it has been observed that more and more service providers are offering virtual asset trading services, making it easier for public investors to access cryptocurrencies. Therefore, it is expected that the trading volume of cryptocurrencies will continue to grow in the near future. In light of the above circumstances, the board believes that there is overall appreciation potential for Ethereum
