Xiao Lei: Huobi's acquisition of Tongcheng Holdings is just a capital operation at the equity level

Regarding Huobi Group’s joint acquisition of Hong Kong main board listed company Tongcheng Holdings by Fission Capital, Xiao Lei said, “Based on the actual situation, this acquisition is only a capital operation at the equity level. Whether Huobi Group’s digital currency trading business can be incorporated into the listed company is questionable. Because once incorporated into the listed company, under the current regulatory environment in Hong Kong, there may be greater pressure, and the probability of being forced to delist is also very high, unless some independently operated businesses under Huobi are incorporated.” (Beijing Business Daily)