HK Stock Market Move | Yunfeng FIN (00376) rises more than 5%, recently independently completed its first RWA project. The group has appointed Jiang Guofei, former senior executive of Ant Group, as the chairman of the Web3 Development Committee.

YUNFENG FIN (00376) rose more than 5%, as of the time of publication, it rose by 6.75% to HKD 6.16, with a turnover of HKD 4.08 billion. On the news front, YUNFENG FIN announced on September 17 that the group's blockchain technology team successfully tokenized the physical assets of the FOF (Fund of Funds) shares invested by its wholly-owned subsidiary, launching the first independent RWA project completed by YUNFENG FIN. This move marks another breakthrough for the group in the field of financial technology innovation, further promoting the deep integration of traditional finance and blockchain technology. Of note, on September 18, according to media reports, YUNFENG FIN has appointed former senior manager of Ant Group, Jiang Guofei, as the Chairman of the Web3 Development Committee. Jiang Guofei previously served as President of Ant Group's Digital Technology Business Group, leading the fintech giant's blockchain projects. This appointment reflects the group's foray into cutting-edge areas like Web3, which is beneficial for addressing many pain points in traditional finance, including costs, efficiency, and security.