Boya Interactive plans to spend no more than US$70 million to purchase cryptocurrency to add to its Web3 business layout

Boya Interactive (00434), a Hong Kong-listed company, issued an announcement that the board of directors recommended seeking shareholder approval to grant purchase authorization in order to use idle cash reserves derived from the company's business operations to purchase potential cryptocurrencies in the next 12 months, with a total amount of no more than 70 million US dollars. The move aims to take advantage of the opportunity in the downturn in the cryptocurrency market, appropriately expand the allocation of cryptocurrencies, and further support the development of the company's Web3 business. As of the announcement date, the company held a total of 4,092 bitcoins, with an average unit price of approximately US$68,200; a total of 302 ether, with an average unit price of approximately US$1661; and purchased approximately 7,000,700 TEDA coins. The board plans to make purchases of these cryptocurrencies on regulated trading platforms to ensure market liquidity and security.