Hong Kong-listed Haotian International to Spend HK$357.5M Buying Ethereum After Reallocating Fund Proceeds

Haotian International, the Hong Kong-listed company, announced that it raised approximately HK$492.5 million via a placement of new shares. The original allocation assigned 72.66% to a Malaysian Internet data centre, 15.68% to general working capital and 11.66% to loan repayment; roughly HK$135 million has been utilised to date for operations and debt servicing. On 3 September 2025 the board approved a reallocation of the remaining HK$357.5 million of proceeds to purchase Ethereum, with the company indicating an intention to fully deploy the funds within one month.

This decision constitutes a change in use of proceeds and represents a corporate treasury asset allocation choice rather than an operational investment in the originally planned data-centre project. The reallocation will be reflected in forthcoming regulatory disclosures and financial statements, and will be subject to standard accounting, liquidity and risk-management reporting requirements under Hong Kong listing rules.