SNEAK PEEK

• Boyaa Interactive invests $5 million in Bitcoin and Ethereum for Web3 ventures.
• Funds are sourced from the Group’s operations in Hong Kong and overseas.
• Shareholders were cautioned due to the crypto market’s known volatility.

Boyaa Interactive, a primary developer and operator of chess and card games in China and a listed entity on the Hong Kong Stock Exchange, recently disclosed plans to invest a significant sum of US$5 million to acquire Bitcoin and Ethereum. This strategic move aims to bolster the company’s position in the emerging Web3 domain.

In a voluntary announcement, the Board of Directors informed the company’s shareholders and prospective investors about their decision to delve into the cryptocurrency realm. Boyaa Interactive, along with its subsidiaries collectively known as the “Group,” has sanctioned a budget to primarily purchase Bitcoin (BTC) and Ethereum (ETH). The funds allocated for these acquisitions are derived from the cash reserves generated by the Group’s operations, both in Hong Kong and overseas.

The board emphasized aligning this decision with the company’s long-term vision and the broader interests of its stakeholders. This initiative is not just a mere investment but a step towards contemplating the company’s future business endeavors in the rapidly evolving Web3 arena.

However, in light of the volatility associated with the cryptocurrency market, the board also issued a cautionary note. They underlined the unpredictable nature of the cryptocurrency market, which is known for its short-term fluctuations. Hence, there’s no absolute assurance regarding the exact timing, quantity, kind, or rate at which the Group will buy or sell digital assets.

Furthermore, the company is committed to adhering strictly to the prevailing control policies concerning cryptocurrencies in the pertinent jurisdictions. It also vowed to comply with the pertinent regulations governing the listing of securities on the Hong Kong Stock Exchange, particularly those related to cryptocurrency dealings.

Shareholders and potential investors are advised to exercise discretion and prudence while trading in the company’s shares, given the potential risks and rewards of such strategic shifts. The next few months will undoubtedly be crucial for Boyaa Interactive as they navigate the intricate waters of the crypto ecosystem.