TechFlow, Sept 17 — According to a Hong Kong Stock Exchange announcement, Qianxun Technology Limited (stock code: 1640) has entered into a non-binding memorandum of understanding regarding a potential acquisition with Punk Code Tech Hong Kong Limited (the target company), aiming to acquire 100% equity interest in the target company. The consideration for this acquisition will not exceed HK$25 million, to be settled via share issuance and/or cash payment, with the final amount subject to an independent valuation report and due diligence findings.
The target company is a Web3 fintech firm founded in Hong Kong, with its founding team primarily from Tencent. Its founder, Mr. Cai Yige, previously served as General Manager of Blockchain Business at Tencent and participated in incubating multiple blockchain projects. This acquisition aims to expand Qianxun Technology's business in the blockchain wallet sector, providing customized blockchain payment solutions for the second-hand digital devices industry and addressing payment challenges in cross-border trade.
