Group 1 - New Fire Technology Holdings (01611) saw its stock rise over 6% in the morning, currently trading at 6.85 HKD with a transaction volume of 20.69 million HKD [1] - On August 26, Mr. Weng Xiaoqi was appointed as the Executive Director and CEO, along with key executives from Huobi, including CTO Guo Wenbin and CFO Zhang Li [1] - Mr. Weng delivered a keynote speech on August 27, outlining the company's strategic upgrade and global strategy, introducing the new executive team, and announcing major initiatives such as the "Star Map Plan" and a 500 million USD DAT special plan [1] Group 2 - Guojin Securities reported that on June 29, New Fire Technology announced a private placement to five investors, raising 270 million HKD, which will result in a 28.34% stake [2] - 46% of the raised funds will be used for business development and expansion, with approximately 93.6 million HKD allocated for the Hong Kong VATP licensing plan and about 31.2 million HKD for upgrading the current license and supporting other regional virtual asset license applications or acquisitions [2] - The company has completed the acquisition of over 50% of the Japanese compliant exchange BitTrade, which will result in an indirect ownership of 92.31% [2] - Plans are in place to obtain licenses in Singapore, the UAE, and potentially Europe [2]

Core Insights - New Fire Technology has unveiled a strategic development plan aimed at becoming Asia's largest private banking-level digital asset custodian, positioning itself as the "Goldman Sachs" of the crypto industry [2] - The company aims to address the four core challenges faced by new investors in the digital currency market: trading difficulties, custody issues, investment complexities, and inheritance challenges [6][4] - The strategic upgrade includes the launch of the "Star Map Plan" and a $500 million DAT Special Plan to enhance collaboration with traditional financial institutions and capture investment opportunities in leading digital asset projects [8][9] Company Strategy - The strategic release highlighted the introduction of a comprehensive service platform for high-net-worth clients, offering a full range of digital asset services including fiat currency deposits, discounted purchases, and industry-leading asset custody [7] - The company aims to integrate traditional private banking services with blockchain technology to create a seamless experience for clients, covering all aspects from trading to inheritance [7][10] - The new management team and the use of the domain 1611.HK were announced as part of the strategic upgrade [7] Market Context - The overall market capitalization of digital currencies has surpassed $4 trillion, reflecting a 78.54% increase compared to the same period in 2024, indicating a significant growth in the crypto market [4] - The demand for professional, compliant, and customized digital asset services is increasing among high-net-worth investors as the market evolves [6] Strategic Partnerships - New Fire Technology has signed strategic cooperation agreements with five leading institutions, including OSL Group and Bosera International, to enhance OTC services and digital asset management [11][12] - The partnerships aim to leverage each organization's strengths to create a secure and compliant investment ecosystem [11][12]