Zhitong Kexin (8932) Board Announces Investment in SORA, Becoming Taiwan’s First Listed Company to Invest in Bitcoin Strategy

Zhihong Technology Co., Ltd. Announces Strategic Decisions to Embrace Bitcoin Capital Strategy

Zhihong Technology Co., Ltd. (stock code: 8932, hereinafter referred to as “Zhihong”) announced that its board of directors approved two long-term strategic decisions on August 8, officially launching a “Bitcoin Capital Strategy + Cross-border Finance” dual-engine model, becoming the first publicly listed company in Taiwan to adopt a Bitcoin capital strategy. This strategy not only aligns with international market trends but also partners with global Bitcoin reserve strategy investor Top Win International Limited (hereinafter referred to as “SORA”), continuing the “Next: ###” layout hinted at in July.

Table of Contents

• SORA hinted in July: Connecting enterprises across Asia to enter Bitcoin reserves
• Zhihong sets a precedent: Taiwanese listed company first to adopt Bitcoin reserve strategy
• First listed company in Taiwan to enter Bitcoin reserves: SORA X Zhihong creates a win-win situation
• Rising Bitcoin prices will amplify the capital effects and market valuations of both parties
• Market feedback: Zhihong’s stock price and trading volume rise simultaneously

SORA hinted in July: Connecting enterprises across Asia to enter Bitcoin reserves

Before the official announcement of the cooperation in Taiwan, SORA co-CEO Jason Fang hinted on social media on July 21 with “Next: ###,” sparking significant market attention and discussion. Zhihong’s investment in SORA and the signing of a memorandum of cooperation between the two companies demonstrate SORA’s determination to actively deploy in Asia.

(Related News: Next stop Taiwan? SORA CEO may intend to bring the “Bitcoin Reserve Strategy” to the Taiwanese stock market)

Japanese listed company Metaplanet (3350.T) has transformed into a focus in the cryptocurrency industry in recent years through the adoption of Bitcoin reserves, being hailed as “Japan’s MicroStrategy.” Since announcing its full commitment to Bitcoin investment strategy in April 2024, Metaplanet’s stock price has seen explosive growth. Not only did it nearly double within 2025, but even with recent adjustments, it remains a strong representative in the Japanese market; if calculated from the lowest point since the launch of Bitcoin reserves in 2024, the maximum increase has even exceeded 40 times (over 4,000%), creating an astonishing record in just over a year.

Originally in the hospitality industry, Metaplanet has transformed with a “Bitcoin Reserve Strategy” and, in a short time, expanded its Bitcoin holdings to over 18,000 coins through bond and stock issuance, becoming one of the leaders in Asian crypto assets. Driven by the surge in stock prices, the company has become a target for domestic and foreign ETFs and large investment institutions, significantly increasing its visibility and activity in the capital market.

Metaplanet has achieved a high valuation and leverage in the Japanese investment market due to its relatively small market capitalization, high growth, and unique financial planning, being seen as a representative enterprise of Bitcoin wealth effects and a hedge against the depreciation of the Japanese yen.

Zhihong sets a precedent: Taiwanese listed company first to adopt Bitcoin reserve strategy

During its board meeting on August 8, Zhihong made two significant decisions, marking the official arrival of Bitcoin capital strategy in Taiwan’s capital market. The first is the signing of a letter of intent for cooperation with SORA to subscribe to its three-year convertible corporate bonds, amounting to USD 2 million, thereby directly connecting to the global Bitcoin reserve network and expanding asset application scenarios. The second is the acquisition of 100% equity of Letul Investments Private Limited located in New Delhi, which holds a local NBFC (Non-Banking Financial Company) license, allowing Zhihong to legally engage in lending, payment, and digital financial business in India, laying the foundation for Zhihong’s entry into emerging markets.

First listed company in Taiwan to enter Bitcoin reserves: SORA X Zhihong creates a win-win situation

The cooperation between SORA and Zhihong is not only a capital alliance but also a complementary model. The strategic cooperation between the two signifies that SORA’s entry into Taiwan will be quicker and more legitimate, while Zhihong can leverage SORA’s international layout and investment network to extend Bitcoin and digital asset strategies into more application scenarios and overseas markets, forming a mutually beneficial relationship that can amplify capital and market value alongside rising Bitcoin prices.

(Related News: SORA’s strategic investment in Thailand and South Korea, SORA becomes a Bitcoin reserve asset management company)

Rising Bitcoin prices will amplify the capital effects and market valuations of both parties

This investment cooperation is expected to replicate the capital market effect of MicroStrategy in the United States in Taiwan. When Bitcoin prices rise, both parties’ net asset values (NAV) and earnings per share (EPS) will increase simultaneously, directly driving market valuations. At the same time, through the NBFC license obtained in India, Zhihong can launch innovative services such as cross-border settlements, crypto asset collateral loans, and Web3 payments in the future, opening up new growth curves for business revenue. These new businesses respond to the Bitcoin reserve strategy, further consolidating the company’s growth foundation in both assets and cash flow.

Market feedback: Zhihong’s stock price and trading volume rise simultaneously

Since the announcement on August 8, Zhihong’s stock price and trading volume have risen simultaneously, reflecting the market’s high recognition and anticipation of the company’s new strategy. Observers point out that if Bitcoin continues to maintain a bullish trend, the cooperation between Zhihong and SORA will not only provide long-term support for the company’s stock price but is also likely to lead Taiwanese listed companies into a new era of “Bitcoinization,” paving the way for the integration of capital markets and digital assets.

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