Huajian Medical Suspends $3 Billion Crypto Acquisition Plan

Huajian Medical, a Hong Kong-listed firm, has paused its planned acquisition of Ethereum valued at up to 3 billion yuan, pending shareholder authorization.

This suspension underscores challenges in corporate cryptocurrency investments, affecting market transparency and influencing similar acquisitions in healthcare-focused enterprises.

Huajian Medical Awaits Shareholder Approval for Crypto Plans

Huajian Medical has put its planned 3 billion yuan acquisition of cryptocurrency, mainly Ethereum, on hold. This decision comes as the company navigates the requirements needed for obtaining shareholder authorization. The official statements indicate that the suspension is temporary, and future acquisitions will comply with Hong Kong Stock Exchange (HKEX) guidelines.

The suspension of the acquisition affects the company’s strategic shift from its traditional medical technology and diagnostics business. Huajian Medical’s integration of blockchain and AI technology marks a significant transformation. The eventual purchase of ETH will be disclosed under HKEX rules if it proceeds.

**Huajian Medical Holdings Limited, Company Statement,** – “Huajian Medical stated that it needs additional time to obtain shareholder authorization and has temporarily suspended the significant acquisition. In the future, when it continues to purchase ETH (Ethereum) in the market, it will disclose it in accordance with the listing rules of the Stock Exchange, particularly Chapter 14, which requires the announcement of transactions.”

Ethereum Price Data Amid Industry Scrutiny

Did you know? Huajian Medical’s plan marks one of the first large-scale attempts by a Hong Kong-listed healthcare corporation to diversify into digital assets, reflecting a broader trend of traditional businesses exploring blockchain technology.

Recent data from CoinMarketCap indicates Ethereum’s price is $3,900.92, with a market cap of $470.83 billion. The 24-hour trading volume stands at $17.32 billion, a decrease of 48.92%. Ethereum’s price has experienced a 1.17% rise in 24 hours, but declined 12.84% over the past 30 days.

The Coincu research team notes that the suspension exposes the challenges companies face in securitizing real-world assets on blockchain. Future regulatory landscapes may evolve as traditional corporations increasingly engage with cryptocurrency markets. The comprehensive implications for both technology adoption and financial practices remain an ongoing subject of industry analysis.