PANews reported on September 16th that according to Zhitong Finance, Yunfeng Financial (00376) announced that it has issued a total of 191 million new shares through a first-in-last-out placement at a price of HK$6.1 per share, raising approximately HK$1.17 billion. This placement aims to expand the company's shareholder and capital base and increase market liquidity. This move will further strengthen the group's financial position to support future business development plans. The funds raised will primarily be used for system and facility upgrades, talent recruitment, and related capital needs, including but not limited to the launch of comprehensive virtual asset trading services and virtual asset-related investment management services.

Earlier news reported that Yunfeng Financial was approved by the Hong Kong Securities and Futures Commission to provide virtual asset trading services.