China Financial Leasing Group, a Hong Kong-listed company, is raising approximately HK$86.7 million to invest in Web3 and AI.

Odaily Planet Daily reported that according to an announcement from the Hong Kong Stock Exchange, China Financial Leasing Group Co., Ltd. (stock code: 2312) disclosed that it entered into a subscription agreement with the subscriber Innoval Capital Holding Limited on October 5 to subscribe for 69,379,496 new shares at a price of HK$1.25 per share, with a total amount of approximately HK$86.7 million.

The company plans to use approximately 94.22% of the net proceeds from the subscription (approximately HK$81.5 million) to invest in listed and unlisted securities in the fields of Web 3 and artificial intelligence, responding to Hong Kong's "Digital Asset Development Policy Declaration 2.0" and building an innovative digital asset investment holding group.