Recently, Xinhu Technology Holdings Limited’s subsidiary, Xinhu Asset Management (HK) Co., Ltd. (Xinhu Asset Management), announced that it has successfully obtained approval for the upgrade of its 1st license (Securities Trading) and 4th license (Providing Securities Advice) from the Hong Kong SEC. This significant development signifies that Xinhu Asset Management will officially enter the virtual asset market, expanding its business to include distribution of virtual asset-related products to professional investors, such as but not limited to, virtual asset (VA) funds, Bitcoin and Ether ETFs, and VA structured products. Moreover, as a holder of the 4th license, Xinhu Asset Management has been further approved to provide virtual asset consulting services under the 4th license, fully positioning itself in the virtual asset field to offer investors a wider range of product options and more professional services.