The digital economy has become a powerful driving force for the development of the real economy in the post-epidemic era. Against this background, on the afternoon of October 28, Singapore AA Blockchain Technology Innovation Co., Ltd. and Cathay Financial Holding Group Co., Ltd. officially signed a cooperation agreement on the backdoor listing of Nasdaq in the Portman Ritz-Carlton Hotel in Shanghai.
Singapore AA blockchain technology innovation company and Cathay Financial Holdings signing ceremony. The signing representatives of the two parties: Chen Wei, the agent of Chairman Yang Bin of Singapore AA Blockchain Group (left) Yang Chongyi, Chairman of Cathay Financial Holdings (right)
Cathay Financial Holdings, established in Manhattan, New York, and its subsidiary Cathay Capital acquired a stake in Cathay Securities in 2018. Founded in 1987, Cathay Securities is one of the earliest securities companies founded by Chinese in the United States, covering traditional investment banking business and emerging investment banking business.
Singapore AA Blockchain Technology Innovation Co., Ltd. was established in 2021. The company's team members cover the United States, the United Kingdom, the Netherlands, Australia, Singapore, Taiwan, Myanmar, South Korea, Japan, mainland China, etc. It is a global, international and professional blockchain elite team. The company is headquartered in Singapore’s Financial District. The company focuses on the research of Internet and blockchain technology, with computing power service platforms as its main business, and integrates the entire blockchain ecological application system. The application of world-leading cross-chain technology has opened up blockchain wallets, blockchain decentralized social networking, blockchain finance Defi/NFT, blockchain e-commerce, blockchain entertainment, AR/VR meta-universe, providing unprecedentedly better innovative technology experience for global Mercury public chain members, and creatively completing the original accumulation of assets for users in the field of blockchain computing power, bringing subversive changes to users' lives.
According to the agreement, the two parties plan to reversely acquire China Changjiang Mining New Energy Co., Ltd. (stock code CHJI), which is listed on the Nasdaq OTC-Markets market in the United States, to become a public company listed on the Nasdaq U.S. under Singapore AA Blockchain Technology Innovation Co., Ltd., a subsidiary of Singapore AA Blockchain Technology Innovation Co., Ltd. The company's main business will also be transformed from the production and refining processing and sales of physical mining to digital asset mining management and services in the blockchain field, becoming the leader in the future global digital world. After the successful backdoor listing, the public company will be renamed "AA Digital Asset Management Service Company".
Regarding this cooperation, Mr. Lu, global CEO of Singapore AA, said that AA aims to break through the relevant difficulties of the digital economy in helping the real economy in the post-epidemic era, solve the severe international and domestic situation under the downward pressure of the global economy, and take advantage of the bridge between the East and West cultural exchanges of Singapore to better attract domestic and foreign funds and digital assets, create a global secure and innovative investment environment, and form a global digital industry that "links the world and empowers the future" to accelerate the integration of global digital industries to achieve win-win and sustainable development.
