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An update from Sino-Entertainment Technology Holdings Limited ( (HK:6933) ) is now available.
Sino-Entertainment Technology Holdings Limited announced a major transaction involving the acquisition of the core source code and intellectual properties of the SocialFi mobile app through a capital injection of HK$20 million. This strategic move is aimed at capitalizing on the growing decentralized social network market, projected to reach USD101,200.8 million by 2033, and is expected to enhance the company’s position within the Web3 ecosystem. The acquisition is considered beneficial for the company as it saves development time and is supported by a profit guarantee under the Shareholders’ Agreement.
More about Sino-Entertainment Technology Holdings Limited
Sino-Entertainment Technology Holdings Limited is a company incorporated in the Cayman Islands, primarily engaged in the technology sector. The company focuses on developing innovative mobile applications, with a particular emphasis on the SocialFi mobile app, which integrates social networking with financial technology.
YTD Price Performance: -10.0%
Average Trading Volume: 146,500
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: HK$74.67M
Find detailed analytics on 6933 stock on TipRanks’ Stock Analysis page.