Jiufang Zhitong Holdings (09636) jumped nearly 8% during Hong Kong's morning session, climbing 7.78% to HK$45 by midday with turnover hitting HK$1.161 billion. The fintech firm announced plans to place up to 20 million shares at HK$39.25 each, targeting net proceeds of HK$746 million. Funds will accelerate blockchain integration across traditional finance through strategic investments in real-world asset tokenization infrastructure, digital asset exchanges, trust banking platforms, and stablecoin operators.
Simultaneously, the company aims to establish digital asset service hubs targeting Hong Kong and Middle Eastern markets while developing retail-focused investment architecture and exploring novel advisory models. Working capital replenishment completes the allocation strategy.
Separately, a July 13 trading update revealed a remarkable turnaround: H1 net profit attributable to shareholders is forecast between CNY 830 million and CNY 870 million, reversing a CNY 174 million loss year-on-year. This resurgence stems from revenue recognition of prior-period product orders, AI-driven operational enhancements boosting margins, and revitalized market activity expanding service demand. The triple-engine growth—product ecosystem diversification, artificial intelligence integration, and capital market recovery—propelled this financial metamorphosis.
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