In two months, 10,000 ETH deployed: Yunfeng Financial's Web3 "Lightning War" and "Noble Chess Game"

Written by: Yangz, Techub News

In the wave of digital asset treasury (DAT) becoming an increasingly strategic choice for more publicly listed companies, this narrative welcomes a new prominent participant. Last night, Hong Kong-listed company Yunfeng Financial (stock code: 00376.HK) announced on the Hong Kong Stock Exchange that its board of directors has approved the purchase of Ethereum (ETH) as a reserve asset in the open market. According to the announcement, the company has currently accumulated a total of 10,000 Ethereum, with a total investment amount of 44 million USD (including related fees and expenses).

In fact, this is not Yunfeng Financial's first foray into the digital asset sector. Tracing back to the strategic announcement made by the company in mid-July at the Hong Kong Stock Exchange, it has clearly identified Web3, Real World Assets (RWA), digital currency, ESG zero-carbon assets, and Artificial Intelligence (AI) as key areas for strategic focus. The recent acquisition of Ethereum is a substantial advancement of this strategy. There is evidence to suggest that Yunfeng Financial's ongoing actions in regulatory compliance and strategic cooperation indicate that it is systematically increasing its commitment to the digital ecosystem.

Systematic increase of the digital ecosystem

According to the announcements made by Yunfeng Financial on the Hong Kong Stock Exchange in the past two months, the Ethereum reserve strategy is not an isolated decision, but a key step for the company to systematically increase its investment in the digital ecosystem and seek innovative financial transformation.

In terms of regulatory compliance, according to the mid-year performance report of Yunfeng Financial in 2025, the company has clearly planned to move towards a new era of Web3. Its licensed securities company has submitted applications to the Hong Kong Securities and Futures Commission for upgrading Class 1, 4, and 9 licenses. Once these license upgrades are approved, Yunfeng Financial will be able to provide comprehensive virtual asset-related trading services and manage investment portfolios in virtual assets. In addition, to support the strategic transformation, the company's board of directors has also approved the adoption of a new employee stock incentive plan to attract and retain high-quality talent.

On September 1st, Yunfeng Financial announced a strategic cooperation agreement with Ant Group and simultaneously made a strategic investment in Pharos Network Technology Limited in the areas of ecological cooperation and technological investment. Specifically, this cooperation aims to integrate Ant Group's technical accumulation in the blockchain and digital finance fields with Yunfeng Financial's professional experience in asset management, securities, insurance, and new energy carbon assets. Both parties will work together to expand RWA tokenization and other cutting-edge fields such as Web3 through Pharos— a next-generation Layer 1 public blockchain platform focused on building institutional-grade real-world asset (RWA) application scenarios, while adhering to compliance frameworks and placing a high emphasis on security.

Although there are currently not many measures, this series of actions is coherent and clear, indicating that Yunfeng Finance is systematically advancing its digital asset ecosystem strategy from multiple dimensions, including license applications, partner selection, and underlying technology layout, laying a solid foundation for expanding virtual asset services within a compliance framework in the future.

“Aristocratic Genes”: Deeply Collaborative Ecological Layout

Of course, Yunfeng Financial's forward-looking layout in the digital asset field is by no means a coincidence; its profound shareholder background and ecological resources may have provided crucial strategic support and a buffer for trial and error.

First of all, the “Yun” and “Feng” in Yunfeng Financial are derived from Alibaba co-founder Jack Ma and renowned investor Yu Feng. In 2015, the Yunfeng Fund co-founded by them led the acquisition of Hong Kong's Ruidong Group and transformed it into today's insurance and financial platform—Yunfeng Financial. This has allowed it to deeply integrate the innovative genes of internet giants with the industrial vision of top investors from the very beginning.

Secondly, its unique shareholder structure has formed a powerful ecological alliance that combines the innovative genes of the internet, an international financial professional background, and cross-industry resources. According to the information disclosed by the Tonghuashun platform, the main equity structure of Yunfeng Financial is as follows:

Jade Passion Limited: As the controlling shareholder, Jade Passion Limited is backed by Yunfeng Capital, whose co-founders include Yu Feng and Ma Yun. This allows Yunfeng Finance to deeply integrate the innovative genes of internet giants with the industry vision of top investors from its inception, enabling it to gain forward-looking strategic insights and rich ecological resources.

MassMutual: MassMutual is not only a financial investor but also a deep strategic partner. The relationship between the two parties originated from Yunfeng Financial's leading acquisition of MassMutual's business in Hong Kong (MassMutual Asia) in 2017, which made MassMutual an important shareholder of Yunfeng Financial. This American life insurance company, with over 170 years of history, provides Yunfeng Financial with deep professional experience and global credibility in the fields of traditional insurance and asset management.

Strategic investors like Ant Group: Although not directly listed among the major shareholders, Ant Group (through its affiliated entities) has always been an important strategic investor and business ecosystem partner of Yunfeng Financial. This strategic cooperation with Ant Group's Digital Technology is the latest embodiment of the synergy between the two parties.

In addition, it is worth noting that HashKey Group's Chairman and CEO, Xiao Feng, has served as an independent non-executive director of Yunfeng Financial since March 28, 2019, as well as a member of the audit committee and the remuneration committee.

Summary

In less than two months, Yunfeng Financial has demonstrated remarkable strategic execution by establishing its Web3 strategy and substantively acquiring 10,000 ETH as reserve assets. Behind this series of actions is the company's “aristocratic genes,” which continuously provide an unreplicable competitive barrier and strategic depth in the innovation field full of uncertainties.

In the author's view, the digital transformation of Yunfeng Financial is by no means a simple follow-the-trend attempt, but rather a “sophisticated operation” with top-level design, resource support, and ecological collaboration.