GOFINTECH QUANT (00290.HK): Clarifies VATP Spending; Extra HK$23.4m Redirected to Quantum

NewTimeSpace News: On 10 November 2026, GoFintech Quantum Innovation Limited (formerly GoFintech Innovation Limited; stock code: 290) published a supplemental announcement clarifying the amount of proceeds used as disclosed in its 23 September 2026 announcement.

Due to an inadvertent omission when preparing that announcement, about HK$23.4 million under the Hong Kong VATP licence application sub-item of item 1, "expanding the Hong Kong digital asset financial licensing business and its infrastructure", had been stated as used as at that date. Following verification, the Company confirmed that the amount remained unused at that date, and that the entire HK$250.0 million originally allocated to the VATP allocation was also unused. As at the date of this announcement, the Group had not submitted any Hong Kong VATP licence application to the SFC and had incurred no direct costs for it; minimum initial preparation costs were funded from internal resources.

The board resolved to apply the additional HK$23.4 million to the quantum business, raising the reallocated amount from about HK$226.6 million to about HK$250.0 million. Of this, about HK$126.6 million will establish a quantum application and R&D centre, including about HK$100.0 million for laboratory premises, quantum simulation equipment and encryption testing devices, and about HK$26.6 million for recruitment, collaboration projects and daily operations; about HK$123.4 million will deploy quantum computing infrastructure and lease spare capacity, including about HK$60.0 million for GPU servers and about HK$63.4 million injected into a subsidiary for computing leasing and trading. Both are expected to be used by September 2027.

Apart from this additional allocation, the planned use, amounts and timetable for the remaining proceeds are unchanged. Total net proceeds were HK$1,321.4 million, of which HK$428.106 million had been used and HK$893.294 million remained unused. The Company clarified that the reallocated proceeds are not intended for the R&D centre under the Hong Kong-Shenzhen Innovation and Technology Park project and that it is still identifying a suitable location. It will not actively pursue a fully licensed Hong Kong VATP operation for now, focusing instead on the quantum business and virtual asset-related asset management through its non-wholly-owned subsidiary MaiCapital Limited.