[The content of this article is provided by Zhihong Technology Co., Ltd.]
Zhihong Technology Co., Ltd. (stock code: 8932, hereinafter referred to as 'Zhihong') announced that the board of directors approved two long-term strategic decisions on August 8, formally launching the 'Bitcoin capital strategy + cross-border finance' dual-engine model, becoming the first listed company in Taiwan to adopt a Bitcoin capital strategy. This strategy not only resonates with international market trends but also collaborates with global Bitcoin reserve strategy investor Top Win International Limited (hereinafter referred to as 'SORA'), taking over its hinted 'Next: Taiwan' layout in July.
SORA hinted in July: Connecting multiple companies in Asia to enter Bitcoin reserves.
Before the collaboration in Taiwan was officially announced, SORA co-CEO Jason Fang hinted at 'Next: Taiwan' on social media on July 21, sparking high 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 its development in Asia.
Further reading
The Bitcoin reserve strategy may bring benefits to the Taiwan stock market? Top Win CEO hints: Next stop Taiwan.
The Japanese listed company Metaplanet (3350.T) has recently transformed into a focus in the cryptocurrency industry through the implementation of a Bitcoin reserve, being hailed as 'Japan's MicroStrategy.' Since announcing its full commitment to Bitcoin investment strategies in April 2024, Metaplanet's stock price has experienced explosive growth. Not only did it nearly double in cumulative growth within 2025, but it is still considered a strong representative of the Japanese market even with recent adjustments; if calculated from the lowest point since the launch of the Bitcoin reserve in 2024, the maximum increase exceeded 40 times (over 4,000%), creating astonishing records in just over a year.
Metaplanet was originally a hospitality operator, but has transformed with a 'Bitcoin reserve strategy' and has rapidly expanded its Bitcoin holdings to over 18,000 coins through methods such as issuing bonds and stocks, becoming one of the leaders in cryptocurrency assets in Asia. Driven by a 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, with its relatively small market capitalization, high growth, and unique financial planning, has achieved an exceptionally high valuation and leverage effect in the Japanese investment market, being regarded as a representative company of the Bitcoin wealth effect and a hedge against the depreciation of the Japanese yen.
Zhihong sets a precedent: Taiwan's listed companies take the lead in adopting Bitcoin reserve strategies.
In the board meeting on August 8, Zhihong finalized two major decisions, marking the official arrival of the Bitcoin capital strategy era in Taiwan's capital market. The first is to sign a letter of intent for cooperation with SORA to subscribe for its three-year convertible bonds worth USD 2 million, thereby directly connecting to the global Bitcoin reserve network and expanding asset application scenarios. The second is to acquire all equity of Letul Investments Private Limited located in New Delhi, which holds a local NBFC (non-banking financial company) license, allowing it to legally conduct lending, payment, and digital financial business in India, laying the foundation for Zhihong's entry into emerging markets.
Taiwan's first listed company steps into Bitcoin reserves: SORA X Zhihong creates a win-win situation.
The collaboration between SORA and Zhihong is not only a capital alliance but also a complementary model. The strategic cooperation between the two means that SORA's entry into Taiwan will be faster and more legitimate, while Zhihong can leverage SORA's international layout and investment network to extend Bitcoin and digital asset strategies to more application scenarios and overseas markets, forming a mutually beneficial relationship that amplifies capital and market value alongside the rise in Bitcoin prices.
The rise in Bitcoin prices will amplify the capital effects and market valuations for 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, the net asset value (NAV) and earnings per share (EPS) of both parties will increase simultaneously, directly driving market valuations. At the same time, Zhihong, through the NBFC license obtained in India, can launch innovative services such as cross-border settlement, cryptocurrency collateral loans, and Web3 payments in the future, opening new growth curves for business revenue. These new businesses resonate with the Bitcoin reserve strategy, further solidifying the company's growth foundation in both assets and cash flow.
Market real-time feedback: Zhihong's stock price and trading volume are rising simultaneously.
Since the announcement on August 8, Zhihong's stock price and trading volume have increased simultaneously, indicating the market's high recognition and expectation 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 may also lead Taiwanese listed companies into a new era of 'Bitcoinization,' pioneering the integration of the capital market and digital assets.
The article 'Zhihong Technology Co., Ltd. 8932 Board announces investment in SORA, becoming the first listed company in Taiwan to invest in Bitcoin strategy' was first published in 'Crypto City'.
