Hang Seng Electronic Response to Ant Group Collaboration Rumors: Unable to Confirm Company's Collaboration with Ant Group

By: theblockbeats.news|2025/07/29 16:02:17

BlockBeats News, July 29th, according to 21 Finance, Hongsen Electronics, the leading financial IT company that was active during the bull markets in 2015 and 2020, saw a major price surge. The market anomaly may be related to a "brief text."

A stock recommendation that appears to be from a securities research analyst stated that they learned that Hongyun Technology, a wholly-owned subsidiary of Hongsen Electronics, has reached a strategic cooperation agreement with Ant Group's AntChain. The cooperation focuses on the operation and system development of virtual assets/stablecoins, with a focus on the Hong Kong and international markets. They also plan to hold a stablecoin summit in September, claiming that "the cooperation will open up Hongsen's growth ceiling."

In response, a Hongsen Electronics investor relations staff member stated that the company is aware of the market rumors and today's price surge may be related to the rumor. However, the investor relations department is currently unable to confirm whether the company has entered into a cooperation with Ant Group. The staff member further added that the company's Hong Kong subsidiary has long provided IT services to Hong Kong and mainland Chinese securities firms, holding a considerable market share. The company is actively involved in stablecoins and other virtual assets as well as international business, and has had preliminary communications with companies such as Ant Group. However, they emphasized that "confirmation of any related cooperation should still be based on official announcement."

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