On October 21, 2024, Sheen Tai Holdings (01335.HK) announced that on October 21, 2024, the buyer Sheen Tai Cloud Network Co., Ltd. (a wholly-owned subsidiary of the company) and the seller Huang Weili (an independent third party) have entered into a purchase agreement on the acquisition. Accordingly, the seller agrees to sell at the price and the buyer agrees to purchase the shares for sale (equivalent to 100% of the target company's issued shares). After the completion of the acquisition, the target company will become a indirectly wholly-owned subsidiary of the company, and the financial performance of the target group will be consolidated into the financial statements of the group.

The target company is a limited company registered in the British Virgin Islands on March 13, 2024, and is an investment holding company. The target company's main subsidiary, Meta Sphere Innovations LLC (i.e. technology company), was registered in the state of Nevada, United States on May 8, 2024, mainly engaged in software development and holding equipment, including but not limited to 4,250 units of S19-95T and 650 units of S19-110T.

Digital assets have seen significant growth in recent years. Despite price fluctuations, the overall trend shows optimistic long-term prospects. Through the acquisition of the target group, the company positions itself strategically, leveraging the future growth and appreciation potential of digital assets. The acquisition provides the company with an opportunity to enter or expand its influence in the digital asset industry. Digital assets play a crucial role in the verification and security aspects of the digital asset network and have become an indispensable part of the digital asset ecosystem. By integrating the target group's digital asset business into the group's existing infrastructure, the company can achieve business diversification, understanding the constantly growing market demand for digital asset services.