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China Shenghai Group Limited ( (HK:1676) ) just unveiled an announcement.
Gaodi Holdings Limited has signed a non-legally binding cooperation memorandum with Metaspacex Limited to jointly set up a project company focused on blockchain-related business, including developing a public blockchain, digital wallet, blockchain explorer, cryptocurrency trading platform, and advisory services for obtaining cryptocurrency exchange licences. The move marks a strategic push by Gaodi to diversify from its core food and beverage operations into the fast-developing digital currency and fintech sector, leveraging Metaspacex’s growing capabilities in digital asset trading and blockchain software, while signaling a potential shift in the Group’s long-term positioning and risk profile for shareholders and investors.
More about China Shenghai Group Limited
Gaodi Holdings Limited is a China-based company primarily engaged in the sales of food products and the provision of food and beverage services in the People’s Republic of China. Listed in Hong Kong, the Group has been seeking to diversify beyond its traditional F&B operations by exploring opportunities in blockchain technology and digital business to enhance competitiveness and shareholder value.
Average Trading Volume: 11,750,606
Technical Sentiment Signal: Sell
Current Market Cap: HK$124M
See more insights into 1676 stock on TipRanks’ Stock Analysis page.