Yesterday, Yunfeng Financial, in which Jack Ma indirectly holds shares, announced that the company's board has approved the purchase of ETH on the open market as a reserve asset. As of the announcement date, the group has cumulatively purchased 10,000 ETH on the open market, with a total investment cost (including fees and expenses) of 44 million dollars.
In addition, the group's use of ETH as a reserve asset aligns with its layout in cutting-edge fields such as Web 3, and it can optimize the asset structure and reduce reliance on traditional currencies. As a result of this news, Yunfeng Financial (0376.HK) saw an intraday increase of nearly 10%.
Yunfeng Financial stock price
Jack Ma and Yunfeng Financial
Yunfeng Financial has always been regarded as a "Jack Ma concept stock."
The controlling shareholder of Yunfeng Financial is Yunfeng Capital, which was co-founded by Jack Ma and the founder of Zhuozhong Media, Yu Feng, in 2010. The "Yun" comes from Jack Ma, and the "Feng" comes from Yu Feng. According to public data, Alibaba founder Jack Ma indirectly holds approximately 11.15% of Yunfeng Financial's shares through Yunfeng Capital, holds 29.85% of the shares in Yunfeng Financial Holdings Limited, and holds 40% (without voting rights) in Shanghai Yunfeng New Ventures.
Jack Ma and Yu Feng
In addition, the predecessor of Yunfeng Financial can be traced back to Wan Sheng International Securities, established in 1982, and listed on the Hong Kong Stock Exchange in 1987, gradually growing into a leading local brokerage in Hong Kong. In 2015, the Yunfeng Fund, led by Jack Ma and Yu Feng, acquired a controlling stake for HK$3.9 billion, driving the company's transformation. Subsequently, Yunfeng Financial built an ecosystem of "Finance + Technology" by acquiring 60% of the stake in American International Group's Asian operations (in 2018) and integrating licenses in securities, insurance, and asset management.
Yunfeng Financial's purchase of Ethereum is just the beginning.
Yunfeng Financial announced yesterday that the company has included Ethereum as part of its strategic reserve assets. This move marks the beginning of the group's layout in the digital asset and Web 3 field, and in the future, it will continue to promote the strategic and digital innovation of crypto assets, as well as explore the inclusion of mainstream tokens such as BTC and SOL into reserves.
At the same time, the group plans to deeply integrate digital assets with its own business, exploring the tokenization of RWA (real-world assets) and the potential applications of blockchain technology in core businesses such as insurance and asset management, in order to build a "finance + technology" ecological closed loop for the company.
Yunfeng Financial will flexibly adjust the scale of digital asset reserves based on market development, regulatory environment, and financial conditions. The group emphasizes that it will continue to accelerate its Web 3 layout in the future, promoting fintech innovation to enhance customer service experience and financial autonomy.
Strategic investment in the public chain Pharos, collaborating with Ant Group to layout the RWA sector.
On September 1st, Yunfeng Financial announced a strategic cooperation agreement with Ant Group's Ant Technology, while also making a strategic investment in the Pharos public chain. This collaboration aims to accelerate the integration and innovation of Web 3 and traditional finance, jointly laying out the tokenization of RWA (Real World Assets) and the Web 3 field through the Pharos public chain platform.
Pharos Project Introduction
Pharos is a next-generation Layer 1 public chain focused on RWA.
In terms of performance, the network features a modular design and high parallelism, with the current testnet TPS reaching 30,000, far exceeding other EVM and parallelized networks; at the same time, Pharos adopts an innovative GPU-like architecture that improves storage efficiency by 80%, and can support billions of users. The core team of Pharos includes not only Web 2 expert members from Ant Group and Alibaba Blockchain but also senior practitioners from the Web 3 industry.
In terms of financing, on November 8, 2024, Pharos completed a $8 million seed round financing, led by Faction and Hack VC, with participation from SNZ Holding, Hash Global, MH Ventures, Dispersion Capital, Generative Ventures, and Chorus One.
The second season of the testnet tasks is underway.
Currently, Pharos is opening the second season of the testnet for early users to experience, and the specific interaction operations are as follows:
STEP 1. Claim the test coins, you can choose to first receive 0G test coins (link: PHRS test coins.
STEP 2. Enter the second season interaction website, connect your wallet, and complete the daily check-in.
STEP 3. Complete the on-chain interaction tasks and social tasks as required.
Summary
Yunfeng Financial, in which Jack Ma holds shares indirectly, has strategically laid out its position in Ethereum, demonstrating not only its belief in emerging technologies but also its forward-looking exploration of financial architecture.
From an overall strategic perspective, Yunfeng Financial is making a key step in optimizing company reserves and reducing dependence on traditional fiat currency by increasing its investment in digital assets. At the same time, it is also attempting to deeply integrate traditional financial services with Web 3 technology, particularly exploring blockchain application scenarios in areas such as insurance and securities.
With Hong Kong's advantages in digital asset regulation, Yunfeng Financial is expected to become an important bridge between traditional finance and the crypto ecosystem. Perhaps, for Jack Ma, this purchase of 10,000 ETH by Yunfeng Financial is just the beginning of the Web 3 layout—the real digital finance landscape has only just begun to unfold.
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Entering Ethereum, Jack Ma's Web3 layout has just begun?
Written by: Asher (@Asher_ 0210)
Yesterday, Yunfeng Financial, in which Jack Ma indirectly holds shares, announced that the company's board has approved the purchase of ETH on the open market as a reserve asset. As of the announcement date, the group has cumulatively purchased 10,000 ETH on the open market, with a total investment cost (including fees and expenses) of 44 million dollars.
In addition, the group's use of ETH as a reserve asset aligns with its layout in cutting-edge fields such as Web 3, and it can optimize the asset structure and reduce reliance on traditional currencies. As a result of this news, Yunfeng Financial (0376.HK) saw an intraday increase of nearly 10%.
Yunfeng Financial stock price
Jack Ma and Yunfeng Financial
Yunfeng Financial has always been regarded as a "Jack Ma concept stock."
The controlling shareholder of Yunfeng Financial is Yunfeng Capital, which was co-founded by Jack Ma and the founder of Zhuozhong Media, Yu Feng, in 2010. The "Yun" comes from Jack Ma, and the "Feng" comes from Yu Feng. According to public data, Alibaba founder Jack Ma indirectly holds approximately 11.15% of Yunfeng Financial's shares through Yunfeng Capital, holds 29.85% of the shares in Yunfeng Financial Holdings Limited, and holds 40% (without voting rights) in Shanghai Yunfeng New Ventures.
Jack Ma and Yu Feng
In addition, the predecessor of Yunfeng Financial can be traced back to Wan Sheng International Securities, established in 1982, and listed on the Hong Kong Stock Exchange in 1987, gradually growing into a leading local brokerage in Hong Kong. In 2015, the Yunfeng Fund, led by Jack Ma and Yu Feng, acquired a controlling stake for HK$3.9 billion, driving the company's transformation. Subsequently, Yunfeng Financial built an ecosystem of "Finance + Technology" by acquiring 60% of the stake in American International Group's Asian operations (in 2018) and integrating licenses in securities, insurance, and asset management.
Yunfeng Financial's purchase of Ethereum is just the beginning.
Yunfeng Financial announced yesterday that the company has included Ethereum as part of its strategic reserve assets. This move marks the beginning of the group's layout in the digital asset and Web 3 field, and in the future, it will continue to promote the strategic and digital innovation of crypto assets, as well as explore the inclusion of mainstream tokens such as BTC and SOL into reserves.
At the same time, the group plans to deeply integrate digital assets with its own business, exploring the tokenization of RWA (real-world assets) and the potential applications of blockchain technology in core businesses such as insurance and asset management, in order to build a "finance + technology" ecological closed loop for the company.
Yunfeng Financial will flexibly adjust the scale of digital asset reserves based on market development, regulatory environment, and financial conditions. The group emphasizes that it will continue to accelerate its Web 3 layout in the future, promoting fintech innovation to enhance customer service experience and financial autonomy.
Strategic investment in the public chain Pharos, collaborating with Ant Group to layout the RWA sector.
On September 1st, Yunfeng Financial announced a strategic cooperation agreement with Ant Group's Ant Technology, while also making a strategic investment in the Pharos public chain. This collaboration aims to accelerate the integration and innovation of Web 3 and traditional finance, jointly laying out the tokenization of RWA (Real World Assets) and the Web 3 field through the Pharos public chain platform.
Pharos Project Introduction
Pharos is a next-generation Layer 1 public chain focused on RWA.
In terms of performance, the network features a modular design and high parallelism, with the current testnet TPS reaching 30,000, far exceeding other EVM and parallelized networks; at the same time, Pharos adopts an innovative GPU-like architecture that improves storage efficiency by 80%, and can support billions of users. The core team of Pharos includes not only Web 2 expert members from Ant Group and Alibaba Blockchain but also senior practitioners from the Web 3 industry.
In terms of financing, on November 8, 2024, Pharos completed a $8 million seed round financing, led by Faction and Hack VC, with participation from SNZ Holding, Hash Global, MH Ventures, Dispersion Capital, Generative Ventures, and Chorus One.
The second season of the testnet tasks is underway.
Currently, Pharos is opening the second season of the testnet for early users to experience, and the specific interaction operations are as follows:
STEP 1. Claim the test coins, you can choose to first receive 0G test coins (link: PHRS test coins.
STEP 2. Enter the second season interaction website, connect your wallet, and complete the daily check-in.
STEP 3. Complete the on-chain interaction tasks and social tasks as required.
Summary
Yunfeng Financial, in which Jack Ma holds shares indirectly, has strategically laid out its position in Ethereum, demonstrating not only its belief in emerging technologies but also its forward-looking exploration of financial architecture.
From an overall strategic perspective, Yunfeng Financial is making a key step in optimizing company reserves and reducing dependence on traditional fiat currency by increasing its investment in digital assets. At the same time, it is also attempting to deeply integrate traditional financial services with Web 3 technology, particularly exploring blockchain application scenarios in areas such as insurance and securities.
With Hong Kong's advantages in digital asset regulation, Yunfeng Financial is expected to become an important bridge between traditional finance and the crypto ecosystem. Perhaps, for Jack Ma, this purchase of 10,000 ETH by Yunfeng Financial is just the beginning of the Web 3 layout—the real digital finance landscape has only just begun to unfold.