Shares of China 33 Media Group (08087) skyrocketed nearly 40% during trading, with the stock ultimately gaining 35.48% to HK$4.62 by the session's close. Trading volume reached HK$2.28 million.
The dramatic upswing follows the company's July 15 announcement outlining its strategic pivot into cryptocurrency. China 33 Media revealed plans to apply for a stablecoin license under Hong Kong's upcoming regulatory framework. Funding for this venture will come from proceeds of a general mandate share placement and existing cash reserves.
This move coincides with Hong Kong's formal regulatory timeline. On June 6, 2025, the government gazetted the commencement notice for the Stablecoin Ordinance (Chapter 656), setting August 1, 2025, as its effective date. The ordinance establishes a licensing regime to oversee stablecoin-related activities within the jurisdiction.
Management views this development as a rare strategic opportunity to diversify and enhance business operations through cryptocurrency. Leveraging extensive experience serving a vast retail customer base with strong cross-border and local payment needs, the company believes stablecoins could significantly enhance payment efficiency while reducing transaction costs.
Preparatory work for the license application is already underway. China 33 Media intends to explore and deploy technological services, including stablecoin payment solutions, within Hong Kong. This initiative aims to optimize payment infrastructure, elevate consumer experiences, and promote wider adoption of stablecoins across retail payment scenarios.
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