YUNFENG FIN (00376) announced that its board of directors has approved the purchase of ETH on the open market as a reserve asset. As of the announcement date, the group has cumulatively purchased 10,000 ETH on the open market, with a total investment cost (including fees and expenses) of $44 million. The purchase was funded from the group's internal cash reserves, and the acquired ETH is classified as investment assets in the group's financial statements.

The group will continue to closely monitor market developments, regulatory environment, and the company's financial condition, adjusting the scale of reserve assets as appropriate. The board believes that incorporating ETH into the company's strategic reserve assets aligns with the group's expansion into frontier areas such as Web3 and will provide critical infrastructure support for real-world asset (RWA) tokenization activities.

This initiative will also drive the group's technological innovation in the Web3 space, enabling clients to achieve comprehensive organic integration of finance and technology, substantially enhancing customer service experience and financial autonomy. Additionally, the company will explore potential application models for ETH in the group's insurance business, as well as innovative business scenarios adapted to Web3.

Furthermore, holding ETH as a reserve asset allows the group to optimize its asset structure and reduce dependence on traditional currencies.