Chinese Financial Leasing Company Sees Surging Stock Price After Ownership Change
On June 25th, China Financial Leasing (02312.HK) experienced a remarkable 646% high-open upon trading resumption, peaking at HK$2.50 per share before settling at HK$1.16 in afternoon trading.
This market excitement followed the June 24th announcement of a major ownership restructuring:
👉 Why tech investors are eyeing Web3 opportunities
- 34.96% equity transfer (121 million shares) from existing shareholders to Longling Capital Ltd for HK$46.08 million
- Mandatory cash offer of HK$0.38 per share (13.43% premium over last closing price)
- Total transaction value approximately HK$85.74 million
Notably, Meitu founder Cai Wensheng serves as Chairman of the acquiring entity. The company stated its intentions to:
- Maintain the listing status on HKEX
Build an asset management platform focusing on:
- Hong Kong tech incubators
- AI and Web3 industries
- Digital asset financial products
Who Is Cai Wensheng?
The tech entrepreneur's career highlights include:
| Year | Milestone |
|---|---|
| 2004 | Founded 265.com (acquired by Google) |
| 2008 | Transitioned to angel investing |
| 2014 | Co-founded cryptocurrency exchange OKCoin |
| 2018 | Disclosed investments in 10+ blockchain projects |
Key characteristics of his investment approach:
- Extremely rapid decision-making (some deals closed within 30 minutes)
- High-risk tolerance (famously transferred RMB 12 million within hours for Storm Player investment)
- Early blockchain adoption (claimed to hold 10,000 Bitcoin in 2018)
Meitu's Cryptocurrency Investment Journey
The visual tech company's foray into digital assets saw dramatic fluctuations:
2022-2023:
- Recognized impairment losses (RMB 86.6M on Ethereum, RMB 198.2M on Bitcoin)
- Crypto holdings value dropped significantly
2024:
- Sold entire crypto portfolio (31,000 ETH + 940 BTC)
- Realized $79.63M profit (≈RMB 571M)
- Allocated 80% of proceeds for special dividend distribution
Web3 Industry Outlook
The strategic shift toward Web3 and digital assets reflects growing institutional interest in:
- Decentralized finance infrastructure
- Tokenized asset management
- Blockchain-based identity solutions
👉 How digital assets are reshaping global finance
FAQ Section
Q: Why did China Financial Leasing's stock surge?
A: The acquisition by Longling Capital, backed by prominent tech investor Cai Wensheng, signaled strategic Web3/digital asset ambitions that excited market participants.
Q: What's Cai Wensheng's investment philosophy?
A: Characterized by rapid execution and conviction-based bets, particularly in disruptive internet/blockchain technologies.
Q: How did Meitu benefit from crypto investments?
A: Despite initial volatility, the company ultimately realized $79.63M profit after holding through market cycles and timing its exit strategically.
Q: What sectors does Web3 encompass?
A: Beyond cryptocurrency, it includes decentralized applications (dApps), smart contracts, NFT ecosystems, and decentralized autonomous organizations (DAOs).
Q: Why are traditional firms entering digital assets?
A: Growing institutional adoption, regulatory clarity in some jurisdictions, and the potential for blockchain to streamline financial operations are key drivers.
Q: What risks accompany Web3 investments?
A: Market volatility, regulatory uncertainty, technology adoption curves, and security considerations require thorough due diligence.