TechFlow news, July 29 — According to Jinshi Data, Hengsheng Electronics, a leading financial IT firm active during the bull markets of 2015 and 2020, saw a sharp surge in its stock price. The market movement may be linked to an unverified online post. A疑似 research note attributed to a securities analyst claimed that Hengsheng's wholly-owned subsidiary, Hengyun Technology, has entered a strategic partnership with Ant Digital Technologies focused on virtual assets and stablecoin operations and system development, targeting Hong Kong and overseas markets. The note added that a stablecoin-related conference is planned for September, stating the cooperation "opens up new growth ceiling for Hengsheng." In response, a representative from Hengsheng Electronics' investor relations department said the company has noticed the market rumors and today's stock price surge might be related, but the IR department cannot currently confirm whether such a partnership with Ant Digital Technologies exists. The representative further explained that the company's Hong Kong subsidiary has long provided IT services to Hong Kong and Chinese securities firms with significant market share. Hengsheng is indeed actively expanding into stablecoins, other virtual assets, and overseas businesses, and has had preliminary discussions with companies including Ant Digital Technologies. However, they emphasized that "official announcements should be the sole basis for confirming any cooperation."
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