Hong Kong Stock Exchange-listed company Concord Medical Services Holdings has announced the suspension of its acquisition of a cryptocurrency firm.

BlockBeats News, November 2nd. According to an announcement from the Hong Kong Stock Exchange, Huajian Group, a listed company, disclosed that since mid-August when it announced its proposed major acquisition of a cryptocurrency of up to 3 billion RMB and deployed it for shareholder approval, it has not sent a letter to shareholders as scheduled, and there has been no progress after two and a half months.

Huajian Group stated that due to the need for additional time to obtain shareholder authorization, the major acquisition has been temporarily suspended. In the future, once it resumes market purchases of ETH (Ethereum), it will disclose the transactions in accordance with the Listing Rules of the Stock Exchange, particularly Chapter 14, which requires disclosure of transactions. Huajian Group added that it plans to subsequently build an AI algorithm platform to improve recognition rates and intends to integrate its distribution network, ecosystem, and RWA platform to enhance the accuracy of the underlying asset valuation model and the efficiency and transparency of the securitization process.