Source: eCompany Author: Han Zhongnan On June 25th, the Hong Kong Stock Exchange disclosed that Berkshire Hathaway sold 2.0175 million shares of BYD Company Limited on June 19th, with an average reduction price of HKD 234.57 per share, cashing out approximately HKD 473 million, and the shareholding ratio decreased from 6.18% to 5.99%. It is worth noting that on June 11, Berkshire Hathaway just made a reduction and cashed out HKD 311 million. Reviewing the previous information, since the first reduction of BYD in August 24, 2022, the "stock god" Buffett has reduced his holdings of BYD many times. The shareholding ratio of Berkshire Hathaway has been adjusted from 19.92% to the current 5.99%. Some strategic analysts said that once Berkshire Hathaway's shareholding ratio of BYD drops to 5%, Buffett's reduction speed may accelerate. On June 25th, BYD A shares rose by 1.63%, closing at RMB 254.01 per share, and Hong Kong stocks rose by 0.84%, closing at HKD 239.60 per share. In the Berkshire Hathaway shareholder meeting held in May this year, Buffett mentioned BYD, saying that BYD and Costco were the stocks that he and Munger worked together for these years and Munger most firmly advocated buying. Talking about why he reduced holdings of BYD, Buffett said that Berkshire Hathaway's investment in BYD was similar to the investment in Japan five years ago, which was a large investment that was rare outside of the United States. In the future, he hopes to focus more on the United States. In fact, recently, not only has Buffett been continuously reducing his holdings of BYD, but his favorite "apple" has also been greatly reduced. The latest holding situation submitted by Berkshire Hathaway to the US Securities and Exchange Commission (SEC) shows that in the first quarter of 2024, Buffett reduced his holdings of Apple Inc. by about 116 million shares, reducing his holdings of Apple from 49.3% at the end of 2023 to 40.3%. Analysts pointed out that judging from the portfolio adjustment actions, Buffett is withdrawing from the technology sector and returning to the industries he was familiar with before. The most obvious change is that Buffett has re-established a large position in Chubb Ltd. which he previously owned. Buffett also said in a recent letter to shareholders, "Property and casualty insurance provides the core protection for Berkshire's health and growth." "Only take a swing when conditions are right," Buffett believes that unless he can find investment standards with low risk and lucrative returns, he will not spend this money.

Author: Zeng Jian

A Hong Kong-listed company with a total market cap of about $0.23 billion, holds$Bitcoin (BTC.CC)$a surprising market cap of $0.226 billion.

$BOYAA (00434.HK)$ On November 12, it was disclosed that as of the announcement date, the company held 2641 bitcoins, with a total cost of about $0.143 billion, an average cost of about $0.054 million per coin; already holding$Ethereum (ETH.CC)$0.0154 million coins, total cost approximately $42.5781 million, average cost approximately $2756 per coin.

Recently, there was a major outbreak in the digital currency market, with Bitcoin approaching $0.09 million at one point yesterday and Ethereum rising above $3440 at one point. Based on this calculation, Boyaa's positions in just Bitcoin and Ethereum alone have unrealized gains exceeding $0.1 billion.

Continuously buying cryptocurrencies.

$BOYAA (00434.HK)$ is a gaming company, founded in 2004, with the company's products mainly focusing on online chess games. On November 12, 2013, Boyaa Interactive was listed on the Hong Kong Stock Exchange.

Securities Times, eReporters noted that Boyaa Interactive has been very aggressive in its investments in digital assets. The company has stated: "Purchasing and holding cryptocurrencies is an important step for the Group in developing and positioning its Web3 business, as well as a crucial component of the Group's asset allocation strategy."

Looking back at history, Boyaa Interactive started buying cryptocurrencies and other digital assets in 2023. By the end of 2023, the company's digital assets amounted to 78.6 million yuan. By the end of the first half of this year, the company's digital assets were approximately 1.688 billion yuan. The half-year report shows that the proportion of digital assets held by the company to its total assets is as high as 75%, with the percentage in current assets exceeding 90%.

Boyaa Interactive's digital asset portfolio mainly includes $Bitcoin (BTC.CC)$ 、 $Ethereum (ETH.CC)$And$Tether (USDT.CC)$As of the end of June, the company holds about 2079 bitcoins, with an average cost of about $0.0513 million per coin; in the second quarter alone, the company bought 885 bitcoins. Holds about 0.0153 million Ethereum, with an average cost of about $2756 per coin.

In the first half of the year, Boyaa Interactive's significant increase in net income is also attributed to a substantial increase in the fair value of digital assets. During the reporting period, the company gained fair value income of about 0.2457 billion yuan from digital assets, accounting for 87% of the net profit attributable to the parent company.

Since July this year, Boyaa Interactive has continued to increase its holdings in Bitcoin. As of August 22nd this year, the company has held about 2410 bitcoins, with an average cost of about $0.0519 million per coin; the holding amount of Ethereum has not changed.

Comparatively, Boyaa's recent pace of buying Bitcoin has significantly slowed down in the past two months, which is perhaps directly related to the rise in Bitcoin prices. Especially recently, due to investors betting that Donald Trump's return to the White House would benefit Bitcoin, the price of Bitcoin surged.

On November 10th, the price of Bitcoin historically surpassed $0.08 million for the first time and has since maintained high levels.

It is worth mentioning that Boyaa announced the adoption of a new dividend policy in March of this year: in the next five years, it will continue to distribute the annual net income to shareholders at a rate of no less than 20% each year, as well as distribute dividends on the appreciation gains from purchasing encrypted assets at a rate of no less than 5% per year.

At the time of listing, Boyaa Interactive attracted market attention. On the day of its stock market debut, nearly 0.077 million people subscribed, freezing assets of 86.8 billion Hong Kong dollars, once known as the 'asset freezing king' of the Hong Kong stock market.

However, the overall performance of the company's stock price after listing has been poor, with low daily trading volumes. Since March of this year, influenced by the improvement in the company's performance and large investments in cryptocurrencies, the trading volume of its stocks has significantly increased.

There are also these companies

Journalists found that among the companies listed on the Hong Kong Stock Exchange, Boyaa Interactive is not the only one making substantial investments in cryptocurrencies.

In March of this year, $INKEVERSE (03700.HK)$ The board of directors has approved a budget of 0.1 billion US dollars for the company to purchase cryptos on any regulated and licensed trading platform over the next five years.

$GOFINTECH INNOV (00290.HK)$ In the announcement in August, the company disclosed that it had purchased a total value of 36 million Hong Kong dollars (excluding transaction costs) worth of bitcoins between March and August.

$LINEKONG (08267.HK)$ In its 2024 interim performance report, the company held a total of 142.8539 units of bitcoins and 848.386 units of ethereum, with a total cash cost of approximately 8.8 million US dollars.

"First Stock of Blockchain" $Canaan (CAN.US)$ Also holds a heavy position in bitcoin. As of June 30th, the company held 1133.5 bitcoins, with a total fair value of $69.9 million at that time.

Editor/Rocky