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According to a Hong Kong Stock Exchange notice, Huajian Group disclosed that since mid-August, when it flagged a proposed cryptocurrency acquisition capped at RMB 3 billion and sought shareholder authorization, it has not issued the anticipated communications to shareholders, and progress has stalled for about two and a half months.
The company attributed the delay to the need for additional time to secure shareholder authorization, and said the deal is temporarily suspended. If market purchases of ETH resume, further disclosures will be made in line with the Listing Rules, especially Chapter 14 requirements.
Looking ahead, Huajian intends to develop an AI algorithm platform to boost recognition accuracy and to weave its distribution network, ecosystem, and RWA platform into a more robust underlying-asset valuation model, aiming to enhance securitization efficiency and transparency.
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