Summary by Futu AI
Ying Universe Group Co., Ltd. (“Ying Universe”) announced on March 26, 2024 that its Board of Directors approved a budget of US$1 million to purchase cryptocurrencies over the next five years. THE STRATEGY AIMS TO ADDRESS THE POTENTIAL DEPRECIATION RISK OF CASH ASSETS BY INVESTING THROUGH REGULATED AND LICENSED TRADING PLATFORMS AND TO ACHIEVE RISK DIVERSIFICATION OF FUNDS MANAGEMENT. Ming Universe believes that the Web3 industry and blockchain technology have significant potential and sees cryptocurrency investments as an important part of their business development strategy and asset allocation. The Board stated that this move will help to enhance shareholder value over the long term and diversify the asset portfolio. HOWEVER, THE BOARD ALSO REMINDS SHAREHOLDERS AND POTENTIAL INVESTORS THAT CRYPTOCURRENCY MARKETS ARE VOLATILE, INVESTMENTS WILL BE MADE AT THE DISCRETION OF MARKET CONDITIONS AND WILL COMPLY WITH RELEVANT DISCLOSURE AND APPROVAL REQUIREMENTS.