With nearly 90% of the market share, does Xiong'an Technology still influence the game with the Blockchain?

Although the income of the blockchain industry has fallen sharply, Xiong'an Technology is excited about the development and application of blockchain technology and says it will continue to explore blockchain, financially, crypto- currency, NFTs and other functions.

On the evening of November 30, Hong Kong stock Xiongan Technology announced its semi-annual announcement, and for the six months to September 30, 2021, the company's sales reached 84,612,600 yuan, up 4 , 72% year over year. The ads were attributed to the bulk of the home business market and home business market sales.

After the acquisition of Xiong'an Technology in 2018 and the name change, revenue generated by blockchain-related companies was RMB 308.48 million, down 88.28% from RMB 26,332 million. RMB at the same time last year. In this regard, Xiong'an Technology considered that the decline in the value of Bitcoin to negative of fair value had been observed at the time of publication.

However, despite the fall in the blockchain revenue market, Xiong'an Technology is excited about the development and use of blockchain technology and says it will continue to do so to explore blockchain, cryptocurrency. financial, NFTs, etc.

Li Xiaolai waited for the people in the circle to join.

According to public records, Xiong'an Technology was previously known as SHIS.Limited and its core business is home service integration and construction and manufacturing in Singapore. .

In April 2018, Morgan Hill Holdings Limited and Trinity Gate Limited acquired 750 million shares of SHIS Limited for a total of HK $ 652.5 million. After the acquisition was completed in May 2018, Morgan Hill Holdings Limited became a major shareholder of the company, with Yao Yongjie directly holding 51% of the capital of Morgan Hill Holdings.

Four months after the acquisition was completed, SHIS.Limited announced the company's name change to Xiong'an Technology. Yao Yongjie was elected president early on May 30, 2018, and became chairman of the board on June 30, 2018.

Yao Yongjie is the current Managing Director and Manager (about 9.61% stake) of Hangzhou Xiong'an Investment Management Co., Ltd., mainly involved in investment, blockchain and intelligence related activities.

What makes Yao Yongjie famous is the Hangzhou Xiong'an Global Blockchain Eleven Financial Reconstruction Project, which created the concept in 2018. It is the first financial blockchain in Korea to be funded by the government, and Yao Yongjie is the creator of money.

Yao Yongjie's previous experience in blockchain mining has become a key factor in exporting Xiong'an Technology blockchain. According to Xiong'an Technology's 2018 financial report, after the acquisition was completed, the company entered the blockchain space.

Xiong'an Technology, in its interim report for 2018, said that in the future it will invest more to develop new activities, including operations, supervision etc. Equipment and tools, the digital marketing platform using blockchain technology, blockchain consulting and conforming to agricultural services

In addition to Yao Yongjie, the short-term addition of financier Li Xiaolai added multi-color blockchain to Xiong'an Technology.

According to public records, Li Xiaolai was elected CEO of Xiong'an Technology on December 3, 2018. He plays a key role in developing stable coins according to Daim Acyclic Graph (DAG) and improving performance. Applications related to the environment (TEE) and other blockchain technologies apply.

However, on May 8, 2019, Xiong'an Technology announced that Li Xiaolai had resigned as the company's director and co-CEO because he hoped to devote more time to advanced research in the blockchain industry.

In addition, a reporter from "Blockchain Daily" reported that in addition to Yao Yongjie, one of the general managers of Xiong'an Technology, the first cryptocurrency exchange Yunbi.com and the CEO of BigONE Yu Wenzhuo have also had a blockchain reboot in June 2018. So far, he has been elected as an independent non-executive director of the company.

Blockchain-related businesses fell nearly 90% last year

As of June 2018, Xiong'an Technology covers a wide range of industries including blockchain, bitcoin mining, hedge production management, hemp cultivation industry, etc.

At this point, Xiong'an Technology's products are mainly divided into four categories: home services, blockchain products, mining industry, and construction and engineering engineering. Among them, construction services and construction and construction are the traditional first business of Xiong'an Technology and now also the main source of income. Performance in the blockchain and hemp industry is not ideal.

According to the recent financial report, as of September 30, 2021, Xiong'an Technology's revenue was 84,612,600 yuan, up 4.72% year-on-year, of which the total revenue of the construction is 77,435,600 yuan. An increase of 46.9% year-on-year, construction engineering revenue was 10,262,600 yuan, and cannabis industry revenue was zero.

Revenues from the development and implementation of blockchain-enabled devices amounted to 308.48 million yuan, down 88.28% from 26,332,000 yuan last year. In this regard, Xiong'an Technology stated in its financial statements that this happened because the price of Bitcoin fell to the negative of the fair value recorded during the investigation.

According to last year's consolidated financial statements, Xiong'an's revenue from the specialized blockchain industry includes: Net revenue from digital assets is 308.48 million yuan, and revenue from digital assets at during the same period last year were 18,752,500 yuan, other income is as follows: It is 55.65 million yuan. The last two entries were double zero at the same time this year.

Although the total income and earnings from the development of blockchain technology decreased during the reporting period, Xiong'an Technology has blockchain technology and market demand, consider in its financial statement that the application of the blockchain technology continues to develop in many fields and industries. the. optimistic attitude.

Further, regarding the specific nature of the blockchain industry, Xiong'an Technology said in a financial report that the development and application of the company's blockchain technology is a market for facilities. related to blockchain information, high performance data and equipment and digital blockchain technology production. Platform, Blockchain Strategy Consulting Services, and Render Farm Services.

However, Xiong'an Technology did not specifically mention the names of the data centers and business platform on which the company operates. A reporter from the 'Blockchain Daily' sent an email requesting an interview, but another has yet to respond.

Keep betting on the blockchain industry

On the one hand, Xiong'an Technology continues to support its vision of blockchain, as the specific description of the blockchain industry is still ambiguous and the market is constantly concentrated.

On December 18, 2020, Xiong'an Technology announced its intention to sell its entire stake in Innovative Plus Investments Limited to a buyer for S $ 2.1 million (approximately RMB 97.96 million). and provide funds for commercial applications.

Heading into 2021, Xiong'an Technology announced a number of announcements and continued to venture onto the blockchain.

In January 2021, Xiong'an Technology joined Hangzhou Xiong'an Investment Management Co., Ltd. reported receiving 51% of cases. According to the report, the board of directors said the acquisition will allow companies to focus on building their blockchain and expanding their business groups, including but not all limited to digital assets, operations. bitcoin mining and blockchain and digital technology. Treasure.

On January 11, Xiong'an Technology and Hong Kong-listed Roma Group signed a joint venture agreement, under which the two sides will engage in blockchain and cryptocurrency projects, establishing market share. and planning blockchain and cryptocurrency related plans. The size of the Fund is not expected to exceed HK $ 2 billion.

He signed a partnership agreement with the Lion Group and announced on the 22nd that the Lion Group will learn about digital venture capital awareness similar to Grayscale Investment. Yao Yongjie, Chief Technology Advisor of Lion Group and Chairman and CEO of Xiong'an Technology, will promote cooperation between Lion Group and Xiong'an Technology to cooperate with the above financial issues. .

On March 16, it was announced that he had signed cooperation agreements with 9 cities on the US Stock Exchange and requested the establishment of a Hong Kong Xiong'an Digital Art Association. Group Co., Ltd. . Access to non-fungible token (NFT), NFT field based on Chinese art and including the size of international art.

Hangzhou TECO's venture capital partner Zhan Kaiyuan told "Blockchain Daily" reporter that Xiong'an Technology is improving its blockchain business with the help of Hong Kong's financial environment. , including the following names and financial cryptocurrency. NFTs and other companies have worked together to replace existing traditional services and construction and engineering engineering, but they are close to Bitcoin and other cryptocurrencies, and a stable market will exist with a major impact. .