Hong Kong Stock Alert | YUNFENG FIN (00376) Surges Over 5% as Company Completes First RWA Project and Appoints Former Ant Group Executive Jiang Guofei as Web3 Development Committee Chairman

Stock News

Sep 19

YUNFENG FIN (00376) jumped over 5%, rising 6.75% to HK$6.16 with trading volume reaching HK$408 million as of press time.

On the news front, YUNFENG FIN announced on September 17 that the group's blockchain technology team successfully tokenized Fund of Funds (FOF) shares from its wholly-owned subsidiary's investment through Real-World Asset Tokenization (RWA), launching the company's first independently completed RWA project. This milestone marks another breakthrough for the group in fintech innovation, further advancing the deep integration of traditional finance with blockchain technology.

Notably, on September 18, media reports indicated that YUNFENG FIN has appointed Jiang Guofei, a former senior executive at Ant Group Co., Ltd., as Chairman of its Web3 Development Committee. Jiang previously served as President of Ant Group Co., Ltd.'s Digital Technology Business Group, where he led the fintech giant's blockchain initiatives. This appointment reflects the group's strategic expansion into cutting-edge areas such as Web3, which is expected to help address many pain points in traditional finance, including costs, efficiency, and security challenges.

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