TechFlow news — On January 13, according to an official announcement, Mingcheng Group (NASDAQ: MSW), a leading Hong Kong-based construction mortar engineering company, revealed that its wholly-owned subsidiary, Lead Benefit (HK) Limited, completed a strategic investment in 500 bitcoins on January 9. The total investment amounted to approximately $47 million, with an average purchase price of $94,375 per bitcoin.
The announcement indicated that Mingcheng Group made this investment through Lead Benefit, a Hong Kong subsidiary newly established on December 23, 2024. The company stated that the move aims to leverage idle funds to capitalize on Bitcoin's appreciation potential, and emphasized that Bitcoin offers high liquidity, enabling prompt conversion into cash to support its core mortar engineering operations.
Wenjin Li, Director of Mingcheng Group, said: "We are confident in our Bitcoin investment and believe this strategic move will not only drive company growth but also generate tangible value for shareholders. The company is actively exploring additional development opportunities."
