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Deling Holdings Adjusts Use of Placement Proceeds, Shifting from Virtual Asset Projects to AI Infrastructure and Traditional Financial Business
Techub News reports that Deling Holdings has adjusted the use of approximately HKD 1.5374 billion from the proceeds of its previous placement. HKD 1.1664 billion has been utilized, with HKD 371 million remaining for reallocation, mainly towards power station sites, AI data centers, inference GPUs and related projects (HKD 145.5 million), share buyback program (HKD 117 million), development of securities and secured lending businesses (HKD 30 million), hiring blockchain experts or strategic partners in digital assets/cryptocurrencies/stablecoins (HKD 10 million), and other initiatives. The company stated that this adjustment is due to changes in market conditions and business priorities, shifting focus from virtual asset projects to AI infrastructure and traditional financial services. Additionally, the company plans to use about HKD 117 million to implement a share buyback program, repurchasing up to approximately 148.3 million shares (10% of issued shares) within 12 months from the announcement date, aiming to enhance shareholder value and improve capital management flexibility.