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NetDragon Websoft Holdings ( (HK:0777) ) has issued an announcement.
NetDragon Websoft Holdings has issued a supplemental announcement revealing that its past acquisitions and disposals of cryptocurrencies, primarily Ethereum and certain stablecoins, should have been classified as disclosable transactions under Hong Kong Listing Rules. The company acknowledged that it did not fully comply with the required reporting and announcement obligations at the time and has now detailed the timing, volume and value of the Ethereum purchases, clarifying that these trades were executed on the OSL Exchange with independent third parties, and confirming that the transactions fall within the 5%–25% threshold that requires disclosure but not shareholder approval.
The board’s clarification addresses regulatory compliance gaps related to crypto trading activities over 2024 and 2025, which may draw closer scrutiny of the company’s risk management and governance around digital asset exposure. By formally classifying these cryptocurrency transactions as disclosable and providing additional information beyond what appeared in its interim report, NetDragon is seeking to regularize its listing rule compliance and offer greater transparency to shareholders and regulators about the scale and nature of its crypto-related dealings.
The most recent analyst rating on (HK:0777) stock is a Hold with a HK$12.50 price target. To see the full list of analyst forecasts on NetDragon Websoft Holdings stock, see the HK:0777 Stock Forecast page.
More about NetDragon Websoft Holdings
NetDragon Websoft Holdings Limited is a Cayman Islands-incorporated company listed in Hong Kong that operates through subsidiaries as a diversified internet and technology group. The company is involved in digital businesses and has exposure to cryptocurrencies as part of its broader asset and investment activities.
Average Trading Volume: 2,402,196
Technical Sentiment Signal: Sell
Current Market Cap: HK$5.22B
Learn more about 0777 stock on TipRanks’ Stock Analysis page.