Heng Seng Electronics responds to rumors of cooperation with Ant Group: Unable to confirm partnership with Ant Group at this time

According to 21st Century Business Herald, Heng Seng Electronics, a leading financial IT company that was active during the bull markets of 2015 and 2020, experienced a significant surge in stock price. The market speculation may be related to a recent article.

A stock recommendation, allegedly from a securities analyst, claimed that Heng Seng Electronics' wholly-owned subsidiary, Hengyun Technology, has entered into a strategic partnership with Ant Group, focusing on the operation and system development of virtual assets/stablecoins in Hong Kong and overseas markets. They also plan to hold a stablecoin conference in September, stating that the partnership will open up growth opportunities for Heng Seng.

In response, a representative from Heng Seng Electronics' investor relations department stated that the company is aware of the market rumors and today's stock price surge may be related to these rumors. However, the investor relations department is currently unable to confirm whether the company has partnered with Ant Group. The representative further added that the company's Hong Kong subsidiary has long been providing IT services to Hong Kong and mainland Chinese securities firms, with a significant market share. The company is actively involved in stablecoins and other virtual assets, as well as overseas business, and has had preliminary communications with companies like Ant Group. Nevertheless, the confirmation of any partnership will depend on official announcements.

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