2025-12-30 01:26:45

Two and a half months ago, a Hong Kong-listed healthcare company made a blockbuster announcement: it planned to invest HKD 3 billion to acquire cryptocurrencies (mainly Ethereum ETH), boldly announcing its entry into the Web3 space.

Even more aggressively, this traditional medical enterprise, originally focused on in vitro diagnostic products, also planned to develop "medical intellectual property RWA tokenization," transforming real-world assets into digital certificates on the blockchain. Such a large-scale and radical shift immediately sparked widespread market discussion.

However, this "big gamble" only lasted a little over two months before suddenly hitting the brakes.

According to the latest announcement, the much-anticipated "HKD 3 billion acquisition plan"… has been suspended.

**Two fronts encountered problems simultaneously**

First is the massive "HKD 3 billion crypto purchase" move. The plan was to hold a shareholder meeting to approve this huge acquisition, but it was forced to pause because "additional time was needed to obtain shareholder authorization." In plain terms, wanting to spend HKD 3 billion to buy ETH was too big a move, requiring shareholder approval through voting. However, the official notice was not issued on time, indicating a bottleneck—likely because traditional shareholders were not on board and held reservations or opposition to such an aggressive plan.

Second is the other "HKD 3.1 billion merger plan" announced in early September, which was directly canceled.

From "All in Web3" to an emergency halt, the rapid turnaround within just a few weeks highlights the risks in the cryptocurrency market and the significant gap between market expectations and reality.

ETH0,51%

RWA11,39%

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GasFeeCrying

· 5h ago

Haha, invested 3 billion in coins, but the shareholders' vote directly shut it down. Old traditional money still fears the crypto world.

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GateUser-4745f9ce

· 6h ago

Haha, this is what happens when traditional capital encounters real Web3. Old retail investors are still quite rational.

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MissingSats

· 20h ago

Haha, investing 3 billion to buy coins and going all in, then getting voted down by shareholders and facing public disgrace—traditional capital is still timid.

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DEXRobinHood

· 12-30 01:53

Haha, this is a typical pattern of chasing highs and getting crushed. Throwing 3 billion all at once is really outrageous. Shareholders have woken up; they weren't fooled by the Web3 story, and there are still some reliable people. I really don't understand the logic behind these erratic operations—what are traditional companies thinking? Speaking of which, the idea of tokenizing RWA in healthcare sounds impressive, but the actual implementation is much more difficult than expected. They gave up in just over two months, which shows that reality is far harsher than slogans. It's 2024 already, and you're still believing that an announcement can change a company's fundamentals? Wake up. Isn't this a textbook example of a negative case? The consequences of going all in. Major shareholders' entire plans fall apart at the first obstacle; it seems that power still resides in the hands of the older generation.

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GasFeeTherapist

· 12-30 01:48

Haha, traditional shareholders have finally spoken out. This is the reality. A healthcare company investing 3 billion in ETH? The old shareholders just shake their heads—it's not something everyone can gamble on. Promised to go all in on Web3, but changed their tune in two months. That's just funny. So, no matter how flashy the RWA concept is, it has to pass the shareholder approval first. The crypto world’s dreams shattered at the board of directors—this story is quite typical.

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DeFiAlchemist

· 12-30 01:43

lmao the classic "all-in on eth" to emergency brake speedrun... watched the yield transmutation fail in real time. RWA tokenization of pharma IP? that's some ambitious financial alchemy right there, but shareholders said "nah, we ain't turning ourselves into a crypto casino" fr fr

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TrustMeBro

· 12-30 01:36

Haha, laughing to death. 3 billion yuan worth of coins smashed, and in just two months, it’s all a face slap. This is called the All-in spirit. --- Traditional shareholders: No, are you crazy? We just want to make steady money. --- RWA tokenization sounds high-end, but in reality, it’s still a gambler’s mentality. --- The ones who rush the most often fall the hardest. It’s old news. --- Medical companies playing with coins? Really, it’s better to focus on diagnostic products. --- So is this the daily routine of Hong Kong stocks? As soon as an announcement is made, a counter-move follows. --- Shareholder meeting votes didn’t pass, but it’s all good; no one agreed. --- The 3.1 billion acquisition was directly canceled. How much reputation was lost in these two months? --- Web3 dreams shattered, the feeling of losing 3 billion yuan is probably very painful. --- By the way, this company's executives are really daring; it’s just that the board of directors isn’t supportive.

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SatoshiChallenger

· 12-30 01:30

Ironically, it fell apart in just over two months. Once shareholders voted, the dream of All in Web3 was shattered [cold laugh]. A medical company suddenly wants to spend 3 billion to buy coins, and this move itself is very reckless. History has shown us that traditional companies jumping on the bandwagon never end well. Data indicates that the success rate of such "strategic shifts" is less than 15%, but every time, someone believes they are the exception. This recent reversal is indeed interesting, showing that the market remains rational, or perhaps the old shareholders have finally seen through. It feels like the same pattern every time: big news, fundraising, pause, and then silence. I'm not criticizing; the reason for spending 3 billion on ETH is quite far-fetched, especially for a diagnostic company. So, this incident instead proves how unreliable the crypto market is—even a Hong Kong-listed company can't hold up.

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