CRYPTO FLOW (08198) announced that on August 22, 2025, the buyer (the company's indirect wholly-owned subsidiary Meta Innovation Limited) intends to acquire 80% of all issued share capital of the target company Rhino Trading Pty Ltd from the seller (Golden Cactus Pty Ltd) for a consideration of HK$400,000.
The target company was incorporated in Australia on November 16, 2021, and owns and operates an online digital currency trading platform where members can purchase and trade cryptocurrencies. The target company has formally registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) for digital currency trading services (covering over-the-counter trading services involving digital currencies) and remittance services involving cross-border transfers, enabling it to legally operate its digital currency trading business in Australia.
The preliminary acquisition served as a springboard for the group to expand into Australian digital currency exchange and over-the-counter trading business. Following the preliminary acquisition, the group has been reviewing and evaluating the target company's operations and engaged relevant professionals to conduct comprehensive legal and financial due diligence on the target company. As of this announcement date, the preliminary acquisition has been completed.
Considering the target company's existing license registration status, established infrastructure, operational experience and network, as well as the potential synergistic effects that the digital currency exchange and over-the-counter trading business operated by the target company could generate with the group's existing networks and facilities within the Web3.0 ecosystem, the company decided to acquire the remaining 80% stake in the target company to obtain full control, rather than exercising the option. The buyer chose not to exercise the option on August 22, 2025.
Upon completion, leveraging the large user base of the Web3.0 social media platform in which the group holds a 30% interest, as well as the extensive mining customer network under its big data center business, the group is expected to rapidly expand the target company's customer base by promoting its digital currency trading platform.
Furthermore, through strategic integration of the group's platforms, facilities and expertise to optimize the target company's operations, and through market promotion to publicize its exchange, the target company's operational and financial performance under the group's management is expected to have potential for improvement.