BlockBeats News, July 1st, According to publicly disclosed information, Conflux's two co-founders, Long Fan and Wu Ming, are both executive directors of the Hong Kong-listed company Sino Biopharmaceutical.
Currently, the total market value of Sino Biopharmaceutical is 371 million Hong Kong dollars, approximately 47.26 million US dollars. The market value of Conflux (CFX) token is 393 million US dollars, ranking 138th in the cryptocurrency market cap list.
BlockBeats previously reported that Sino Biopharmaceutical (00399) announced that on June 30, 2025, the company (as the buyer) had entered into a memorandum of understanding with the seller (Northwestern Foundation) and Conflux regarding the potential acquisition of all equity of the target company, subject to the completion of the acquisition of Conflux assets by the target company under the agreement with the company. The memorandum of understanding indicates that the company is committed to entering the digital innovation industry through the potential acquisition to develop this new business division. The company believes that this move will not only diversify the group's business but also bring new profit growth drivers to the group.
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