China Financial Leasing Group announced plans to raise $11.1 million through share placement to fund the development of a cryptocurrency and artificial intelligence investment platform, sending shares up 25% in Hong Kong trading.
The Hong Kong-listed investment firm will issue 69.38 million new shares at HK$1.25 each to Innoval Capital under their subscription agreement. The deal represents approximately 20% of existing share capital and 16.7% of the enlarged base post-placement.
Sunday's filing with the Hong Kong Stock Exchange outlined intentions to establish a Crypto-AI digital asset investment platform. The company plans to invest in digital asset exchanges, including stablecoins, Bitcoin, Ethereum, RWA, NFT, DeFi, DePIN and emerging digital assets.
Innoval Capital, the British Virgin Islands-incorporated subscriber, was founded by Antalpha CEO Moore Xin Jin. Jin leads Nasdaq-listed Antalpha Platform Holding Company, managing assets exceeding $1.6 billion.
China Financial Leasing stated the crypto platform development aligns with the Hong Kong government's June policy statement on developing crypto assets. The company aims to evolve into an innovative digital asset investment holding group by integrating AI and blockchain technologies.
Shares jumped 25% as of 2:00 p.m. Monday in Hong Kong with markets still open. The stock carries a market capitalization of around HK$555 million ($71.3 million).
The announcement reflects Hong Kong's push toward becoming a digital asset hub following supportive regulatory frameworks. The subscription agreement with Innoval Capital brings both funding and strategic expertise through Jin's extensive crypto and fintech sector experience.
Development of the digital asset management platform positions China Financial Leasing to capitalize on growing institutional interest in cryptocurrency infrastructure. Integration of artificial intelligence capabilities aims to differentiate the platform in increasingly competitive digital asset markets.