GOFINTECH QUANT (00290.HK): Redirects HK$226.6m Unspent Subscription Proceeds to Quantum Business

NewTimeSpace News: On 23 September 2026, GoFintech Quantum Innovation Limited (stock code: 00290) announced that its board resolved to change the use of proceeds of its subscription, under which approximately HK$226.6 million of the unspent net proceeds originally allocated to expanding the Hong Kong digital-asset financial licensing business and related infrastructure will be reallocated to developing the Group's quantum ecosystem (the quantum business). The subscription was completed on 17 March 2026 with net proceeds of approximately HK$1,321.4 million, and the original intended uses of the remaining proceeds are unchanged.

After the revision, the revised allocation for the Hong Kong digital-asset licensing segment becomes nil, including the Hong Kong virtual asset trading platform (VATP) licence application originally allocated HK$150 million with HK$23.4 million utilised, and the VATP business development of HK$100 million left unspent. Of the reallocated HK$226.6 million, approximately HK$126.6 million will fund the establishment of a quantum application and R&D centre in Hong Kong, with about HK$100 million for laboratory premises and procurement of professional quantum simulation equipment, encryption testing devices and dedicated computing infrastructure, and about HK$26.6 million for talent recruitment, collaborative projects and daily operations, expected to be utilised before September 2027.

The remaining approximately HK$100 million will fund the procurement and deployment of high-performance GPU server clusters to build scalable computing capacity, with about HK$70 million for GPU server investment and about HK$30 million injected into a subsidiary to conduct computing-power leasing and trading businesses, also expected to be utilised before September 2027. The self-built GPU capacity will first serve internal quantum business needs; after meeting internal demand, surplus capacity will be commercially leased to licensed financial institutions and AI enterprises with high requirements for computing and data security, generating recurring service income.

The board cited growing market demand for quantum encrypted communications, tightening compliance requirements for quantum-safe solutions among financial and government clients, and growth in the third-party computing-power leasing market driven by large-model AI training and inference workloads, saying the change fits the Group's strategic transformation from an investment holding platform to a dual-engine model combining investment and technology-driven operations. The board considers the change a prudent and strategic capital reallocation that is fair and reasonable and in the interests of the Company and its shareholders as a whole. The Group has previously advanced its quantum wallet into the trial production stage.

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