Shenzhen TechFlow News, on March 11, according to Globenewswire, Mingcheng Group’s wholly-owned Hong Kong subsidiary Lead Benefit (HK) Limited purchased 333 BTC at an average price of $81,555 per coin on February 28, 2025, with a total investment of approximately $27 million.
Mingcheng Group stated that the company plans to use idle funds to purchase Bitcoin as a short-term investment in order to seize the potential appreciation space of Bitcoin and increase assets. The company believes that the Bitcoin market has high liquidity, and if necessary, it can easily sell Bitcoin to provide funds for its wet construction business.
Ming Cheng Group is mainly engaged in wet engineering services, including plastering engineering, tiling engineering, bricklaying engineering, ground leveling engineering, and marble engineering, aiming to become a leading wet engineering service provider in Hong Kong. The company is listed on NASDAQ with the stock code MSW.
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