Xunce partners with Hongtai Capital on tokenization services

Data AI agent company Shenzhen Xunce Technology Co. Ltd. (3317.HK) on Sunday announced its signing of a strategic cooperation memorandum with Hongtai Capital to explore in-depth tokenization empowerment services for Hongtai Capital and its portfolio companies. The pair will also jointly develop solutions for the commercialization of tokens across vertical scenarios.

Co-founded by New Oriental founder Yu Minhong and former Huatai United Securities Chairman Sheng Xitai, Hongtai Capital boasts a business portfolio that encompasses angel investments, venture capital, private equity, mergers and restructuring, securities investments, wealth management and other securities services.

Hongtai Fund, which operates under the Hongtai Capital umbrella, manages over 30 billion yuan ($4.43 billion) in assets with a focus on AI, semiconductors, robotics, aerospace satellites and the low-altitude economy. Hongtai Capital holds stakes of 4.67% and 1.19% in Xunce through two of its private funds.

Shares of Xunce opened up 3% at HK$94 on Monday. The stock is up 90% since its listing this year.

By Lau Chi Hang

To subscribe to Bamboo Works weekly free newsletter, click here