Grandall Holdings On November 1st, Virtual Mind Holdings (01520.HK) announced that on October 29, 2024, the company entered into a non-legally binding investment framework agreement with Sinocapital Research Global Investors Limited ("the Target Company"), pursuant to which the company will invest 6 million Hong Kong dollars in the target company by subscribing to newly issued preferred shares.
As of the date of this announcement, the chairman and executive director of the company, Mei Wei, holds 40% of the shares of the target company. The target company possesses the necessary intellectual property rights authorization and operational experience related to establishing a global universal exchange certificate issuance and management platform (including but not limited to stablecoins, digital currencies, non-fungible tokens (NFTs)) ("the Exchange Certificate Platform"). The target company has obtained a permanent global exclusive authorization from Golden Chain Huixin Technology Development (Beijing) Co., Ltd., including all patents, software copyrights, proprietary technologies related to the Exchange Certificate Platform.
The Group has been actively seeking to expand the business of this group. The Exchange Certificate Platform, developed through the application of blockchain technology, i.e., the application of distributed ledger technology, empowers all parties in the industry chain to automatically implement consensus rules 24 hours a day, 7 days a week. The platform codes and standardizes multi-party consensus trading rules, providing a trading witness, trading account, trading settlement, and trading financing service platform for all parties participating in industry consensus. The company has the market resources and development investment capabilities for real-world trading universal exchange certificates, and the company plans to cooperate with the target company to jointly carry out universal exchange certificate business based on real-world trading scenarios.
