QMD Announces the Acquisition of He Yan Company
Hong Kong, SAR Peoples’ Republic of China, March 02, 2023
- Shift of Focus to Ownership and Operation of Data Centers
- EUR 20 million Asset Deal
QMD International Holdings Company Limited (JT9; ISIN: VGG3223A1057) today announces the company’s strategic realignment with the acquisition of He Yan Company Limited. He Yan Company Limited’s sole asset is an 80% ownership in a data center located in Laos PDR. This property is deployed as a server farm for mining cryptocurrencies. The asset, priced at EUR 20 million, was acquired from a company controlled by Mr. He Yan. The vendor will receive 2 million shares from existing holdings held by the company as an investment and EUR 14 million of non-interest-bearing, non-demand loan. Upon completion of the acquisition, the Vendor shall become a significant minority shareholder and will appoint Mr. He Yan as its representative to the Board of Directors of QMD.
The cryptocurrency server farm was constructed in 2021 and has a maximum capacity of 50 MW. It features both onsite technical support and 24/7 security. Designed as a colocation center, data center capacities are made available to end-users on various service levels.
The Company is currently exploring further acquisitions in this field.
“We believe that the current market trends in the crypto space offer an excellent opportunity for QMD International to reposition itself into an industry that will provide both positive cashflow and capital appreciation by investing not only in cryptocurrencies but also in the underlying technologies,” says Patrick P.L. Chan, Chairman, and Chief Executive Officer of QMD International.
Schwarz Financial Communication
Tel: +49 611 580 2929 0