Ming Shing Group Holdings Limited, a Hong Kong-based company specializing in construction trades, has made a bold entry into the cryptocurrency market.
The company announced in a press release that its wholly owned subsidiary Lead Benefit (HK) Limited purchased 500 Bitcoins worth a total of approximately $47 million at an average price of $94,375 per Bitcoin.
The acquisition was completed on January 9, 2025, as part of Ming Shing’s strategy to use idle funds for short-term investment. The company aims to capture potential appreciation in Bitcoin’s value while maintaining the flexibility to liquidate assets and reinvest in its construction trades business when necessary.
“We are excited about our Bitcoin investment,” said Mr. Wenjin Li, director of Ming Shing. “We are confident that this investment will not only drive our growth but also create significant value for our shareholders. We are also actively exploring options for the company’s further growth.”
Lead Benefit (HK) Limited recently merged with Lead Benefit International Limited, a British Virgin Islands (BVI) business entity, as its sole shareholder on 23 December 2024.
*This is not investment advice.
