HK Stock Market Move | INKEVERSE (03700) rises by over 8%, the company excels in the short video sector, and investment in cryptocurrency is expected to optimize asset allocation.

INKEVERSE (03700) surged more than 8%, up 8.39% to HK$1.68, with a turnover of HK$44.3096 million as of the time of reporting. On the news front, Soochow's research report pointed out that Kunlun Tech's AI short video platform SkyReels was launched in the United States on December 10, further expanding the global AI entertainment market. INKEVERSE has a solid fundamental, promising growth in new business, with revenue of HK$3.5 billion in 24H1, up 13% year-on-year, and outstanding performance in the short video field. The company has ample cash on hand and plans to invest in cryptocurrency to optimize asset allocation and promote the development of WEB3.0 business. In March last year, INKEVERSE announced that its board of directors had approved a budget of US$100 million for the group to purchase cryptocurrency on any regulated and licensed trading platform within the next five years from the date of the announcement. It is reported that Bitcoin broke through $108,500 today, hitting a new all-time high, with a daily increase of more than 3%.