HK Stock Market Move | MEMESTRATEGY(02440) rose more than 22% in the afternoon session, recently announced the purchase of cryptocurrency, previously acquired by the founder of the social media platform 9GAG.

MEMESTRATEGY (02440) surged more than 22% at the close of trading, with the stock price nearly doubling since June 10. As of the time of writing, it has risen by 18.56%, reaching HK$3.013 with a trading volume of HK$13.156 million. In terms of news, MEMESTRATEGY announced that on June 16, 2025, the group purchased a total of 2,440 units of the cryptocurrency Solana on a public market cryptocurrency trading platform for approximately HK$2,907,465 in cash, funded by internal resources of the group. It is worth noting that in early April of this year, Howkingtech Technology announced its intention to change its company name from "Howkingtech International Holding Limited" to "MemeStrategy, Inc." and adopt the Chinese name "MEMESTRATEGY." In January of this year, Howkingtech Holding Limited and other shareholders sold a total of 158 million shares to the offeror Home Office Development Limited (wholly owned by Chen Zhan Cheng) for approximately HK$140 million. Upon completion, the offeror and its concerted parties will hold approximately 70.11% of the issued share capital. It is reported that Chen Zhan Cheng is the CEO and co-founder of Memeland, a Web3 creative studio aimed at establishing and investing in content, communities, and culture. He is also the CEO and co-founder of 9GAG.