Hong Kong-based Ming Shing Group announced a significant investment move today, revealing that its wholly-owned subsidiary, Lead Benefit (HK) Limited, has acquired 333 Bitcoins at an average cost of US$81,555 each, totaling approximately US$27 million.
The wet trades company indicated the purchase underscores its strategy to ‘leverage idle funds for short-term investments’, aiming to capitalize on Bitcoin’s potential appreciation while bolstering the company’s asset portfolio.
Lead Benefit, is wholly owned by Lead Benefit International Limited, a British Virgin Islands entity established on December 9, 2024, with Ming Shing as its sole shareholder.
Ming Shing’s management cited the liquidity of the Bitcoin market as a key factor in the decision, stating that should the need arise, the acquired Bitcoins can be easily liquidated to support the company’s core wet trade works business.
“Our firm is committed to enhancing our asset growth through strategic investments,” said Wenjin Li, director of Ming Shing. “This Bitcoin acquisition reflects our dedication to creating additional shareholder value, as we continue to explore further growth opportunities.”
Founded with a focus on wet trades such as plastering, tile laying, and brick laying, Ming Shing noted it plans to solidify its position as a leading service provider in both Hong Kong and the United States.
Shogun Lin
