Hong Kong-listed YUNFENG FIN (00376.HK) announced on September 8 that the company has accumulated 10,000 Ethereum (ETH) through public market purchases, with a total investment of $44 million (approximately 314 million yuan), funded entirely through the group's internal cash reserves.
According to corporate data, YUNFENG FIN's largest shareholder is Jade Passion Limited, holding 47.25% of shares. This entity is an investment vehicle under Yunfeng Fund, which was co-founded in 2010 by Alibaba founder Jack Ma and Focus Media founder Yu Feng. Jack Ma indirectly holds interests in YUNFENG FIN through his 40% stake in Shanghai Yunfeng Investment Management Co., Ltd.
This large-scale Ethereum acquisition marks the formal entry of Jack Ma-affiliated enterprises into the digital asset space, representing a typical case of traditional financial institutions embracing Web3.
Notably, YUNFENG FIN just announced a strategic partnership with Ant Digital Technology on September 1, where both parties will jointly explore frontier areas including Real World Asset (RWA) tokenization and Web3 through the next-generation Layer1 blockchain platform Pharos.
YUNFENG FIN explicitly stated in its announcement that the ETH purchase aims to support the group's strategic positioning in frontier areas including Web3, RWA tokenization, digital currencies, ESG zero-carbon assets, and artificial intelligence, providing infrastructure support for RWA tokenization while exploring innovative applications of ETH in insurance business.
The company's board believes that incorporating ETH into strategic reserve assets not only aligns with the group's Web3 positioning but also provides crucial infrastructure support for RWA tokenization activities. The company indicated plans to include diversified mainstream digital assets such as Bitcoin (BTC) and Solana (SOL) in its reserve asset allocation.
"This move will drive the group's technological innovation in the Web3 space, achieving comprehensive integration of finance and technology for clients, enhancing service experience and financial autonomy," the company stated in its announcement.
In secondary market performance, YUNFENG FIN's stock price has surged over 270% year-to-date, closing at HK$3.950 on September 8, up 0.77%. The strong stock performance reflects positive market expectations for its Web3 strategy.
However, the volatility of digital asset markets cannot be ignored. On the evening of September 8, Ethereum was trading at $4,328, up 0.69% in 24 hours. According to Coinglass data, over 110,000 people were liquidated in the cryptocurrency market in the past 24 hours, totaling $173 million.
Industry professionals note that YUNFENG FIN's significant Ethereum investment represents an important signal of traditional financial institutions actively embracing Web3 technology. As the RWA sector gradually heats up, tokenizing physical assets through blockchain technology has become an important bridge connecting traditional finance with the digital economy.
Analysts point out that the joint positioning of Jack Ma-affiliated enterprises with Ant Digital Technology could provide significant momentum for domestic RWA market development, but investors should remain attentive to regulatory policy changes and market volatility risks in digital assets.