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GOFINTECH-500 (00290.HK) Acquires 19.9% Stake in Luffa AI
GOFINTECH-500 (00290.HK) announced that it will acquire a total of 11.89 million issued shares of Luffa AI at a consideration of USD19.8 million (approximately HKD154 million), rep...
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GOFINTECH-500 (00290.HK) Acquires 19.9% Stake in Luffa AI
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GOFINTECH-500 (00290.HK)  +0.060 (+0.997%)    Short selling $1.11M; Ratio 1.813%   announced that it will acquire a total of 11.89 million issued shares of Luffa AI at a consideration of USD19.8 million (approximately HKD154 million), representing about 10.8% of its enlarged share capital. In addition, the company will subscribe for 10 million new shares of Luffa AI at a cost of USD20 million (approximately HKD156 million). Upon completion, the company will hold a 19.9% equity interest in Luffa AI.

Luffa AI is principally engaged in the development and operation of communication and social networking products and related services based on artificial intelligence and Web3 technologies. Its key assets include all related rights, intellectual property, source code, user base and associated intangible assets of the smartphone application and web interface known as Luffa.

Operating as a decentralized social and messaging platform, Luffa utilizes end-to-end encryption and distributed technologies to safeguard user data. The platform serves as an infrastructure layer for autonomous AI agents, providing decentralized identity, permission management, social functions and Super App mini-programs, delivering a one-stop seamless experience for next-generation human-machine interaction.

GOFINTECH-500 believes that entering into the investment agreement provides a unique opportunity for the Group to leverage its research and development achievements in quantum encryption algorithms and blockchain technologies. The move is expected to enhance the competitive edge and technological competitiveness of the Groups fintech services. The company is also considering a potential equity fundraising exercise. If materialized, the proceeds will be used to settle part of the consideration.

GOFINTECH-500 is currently quoted at HKD7.03, down 16.11%, with a turnover of 8.017 million shares, involving HKD57.7355 million. (jl/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-29 16:25.)

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