The founder of Hong Kong Asia Holdings sold 70.26% of its shares to multiple cryptocurrency backed investors for 126 million yuan last month

Odaily Star Daily News: Hong Kong SIM card retailer Hong Kong Asia Holdings previously disclosed that it had bought one Bitcoin, but before the news was disclosed, the stock price had already risen first. After a surge of 32.8% last Thursday, it surged another 67.7% on Friday, accumulating 1.23 times in two days. According to market news, Xiao Mulong, founder and former major shareholder of Hong Kong Asia Holdings, sold his 70.26% stake for 126 million yuan last month to several investors with cryptocurrency backgrounds, including 210K Capital, Sora Valkyrie, Top Legend, and Hengda Investment. Recently, the new shareholder has also appointed several relevant personnel to join the board of directors of Hong Kong Asia Holdings. Hong Kong Asia Holdings is mainly engaged in wholesale and retail of SIM cards and stored value cards, with 7 self operated retail stores in Hong Kong. As of the end of September last year, its revenue was 98.54 million yuan, a year-on-year decrease of 23.6%; Net profit of 690000 yuan, a significant drop of 93.6%, holding 62.3 million yuan in bank balances and cash. (Star Island Network)