Hong Kong-listed company Huajian Medical suspends cryptocurrency acquisition

According to ChainCatcher, as per the announcement from the Hong Kong Stock Exchange, Hong Kong-listed company Huajian Medical disclosed that since announcing in mid-August its potential major acquisition plan to purchase cryptocurrencies for no more than 3 billion yuan and submitting it for shareholder approval, it has not sent the circular to shareholders as scheduled, and there has been no progress after two and a half months.

Huajian Medical stated that due to the need for additional time to obtain shareholder authorization, the major acquisition has been temporarily suspended. In the future, if it continues to purchase ETH (Ethereum) in the market, it will make disclosures in accordance with the Hong Kong Stock Exchange Listing Rules, especially Chapter 14, which concerns notifiable transactions. Huajian Medical added that it plans to build an AI algorithm platform to improve recognition rates, and intends to integrate its distribution network, ecosystem, and RWA platform to enhance the accuracy of underlying asset valuation models as well as the efficiency and transparency of the securitization process.