Blue Hat has completed a gold purchase, enhancing its strategic focus on gold trading and supply chain optimization.
Quiver AI Summary
Blue Hat Interactive Entertainment Technology has completed the purchase of one ton of gold from Rongxin Precious Metal Technology, following a sales agreement from October 2023. The transaction was concluded after the company settled the final balance through the issuance of ordinary shares. This acquisition aligns with Blue Hat's strategic shift over the past two years towards becoming an AI-driven financial services enterprise focused on gold trading and commodities. Significant developments have included entering potential acquisitions, achieving regulatory milestones, and planning to build a smart gold trading platform. The gold was purchased at a favorable price of RMB 473.70 per gram, resulting in a substantial appreciation in the company’s book assets as gold prices increased. Moving forward, Blue Hat aims to enhance its gold reserves, optimize supply chain operations, and promote technological innovation to build a transparent gold trading ecosystem and maximize shareholder value.
Potential Positives
- Blue Hat completed a strategic purchase of one ton of gold, enhancing its asset portfolio and establishing a strong foothold in the gold market.
- The purchase price of RMB 473.70 per gram represents a significant cost advantage, with current market prices indicating a potential appreciation of nearly US$25 million in book assets.
- The company has embarked on a strategic shift towards AI-driven financial services, focusing on gold trading and commodities, signaling a robust growth strategy.
- Blue Hat achieved regulatory approval as a Category A Dealer in Precious Metals and Stones, providing a strong foundation for future development in its commodities business.
Potential Negatives
- The company's strategic shift from providing communication services and AR interactive entertainment to focusing on gold trading and commodity-related businesses may raise concerns regarding its core competencies and potential market risks associated with such a drastic business transformation.
- The significant reliance on gold trading could expose the company to volatility in gold prices, which might adversely affect financial stability and long-term sustainability.
- The mention of forward-looking statements underscores inherent uncertainties and risks, which could deter potential investors worried about the company's ability to achieve its ambitious goals.
FAQ
What recent acquisition did Blue Hat complete?
Blue Hat completed the purchase of one ton of gold from Rongxin Precious Metal Technology Co., Ltd.
How has Blue Hat transformed its business focus?
The Company has shifted to become an AI-driven financial services enterprise focusing on gold trading and commodities.
What is Blue Hat's strategic goal for 2025?
Blue Hat aims to increase gold reserves, optimize supply chain operations, and promote technological innovation.
What is the significance of the gold price increase for Blue Hat?
The gold price increase has led to an appreciation of the Company's book assets by nearly US$25 million.
What is Blue Hat’s approach to technological innovation?
Blue Hat is developing blockchain-based trading platforms to enable the digitization of gold assets.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BHAT Hedge Fund Activity
We have seen 6 institutional investors add shares of $BHAT stock to their portfolio, and 1 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG added 282,965 shares (+inf%) to their portfolio in Q3 2024, for an estimated $96,491
- CITADEL ADVISORS LLC added 100,171 shares (+inf%) to their portfolio in Q3 2024, for an estimated $34,158
- TAMAR SECURITIES, LLC added 23,121 shares (+inf%) to their portfolio in Q4 2024, for an estimated $3,179
- TWO SIGMA SECURITIES, LLC added 22,052 shares (+inf%) to their portfolio in Q3 2024, for an estimated $7,519
- GEODE CAPITAL MANAGEMENT, LLC added 18,062 shares (+141.4%) to their portfolio in Q3 2024, for an estimated $6,159
- XTX TOPCO LTD added 18,042 shares (+inf%) to their portfolio in Q3 2024, for an estimated $6,152
- SCHONFELD STRATEGIC ADVISORS LLC removed 17,700 shares (-13.1%) from their portfolio in Q3 2024, for an estimated $6,035
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
XIAMEN, China, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology (“Blue Hat” or the “Company”) (NASDAQ: BHAT) today announced the completion of its purchase of one ton of gold, pursuant to sales agreement dated October, 2023, with Rongxin Precious Metal Technology Co., Ltd (“Rongxin”). The transaction was finalized following the Company’s settlement of the remaining balance through the issuance of ordinary shares.
Showcasing the Effectiveness of the Company’s Strategic Positioning
Blue Hat has made a number of strategic moves over the past two years as part of its transition to focus gold and supply chain businesses:
- Driving business development : In March 2024, the Company announced its strategic shift to become an AI-driven financial services enterprise, focusing on the development of gold trading and commodity-related businesses.
- Fostering strategic alliance : In May 2024, the Company entered into letter of intent for a potential acquisition with GTC Multi Trading DMCC, further expanding its presence in the global commodity trading sector.
- Platform development : At the end of May 2024, Mr. Chen Xiaodong, chief executive officer of Blue Hat, unveiled a plan to build an intelligent gold trading platform using technological innovation to enhance the transparency and efficiency of gold trading.
- Achieving regulatory milestones : In June 2024, the Company’s subsidiary successfully qualified as Category A Dealer in Precious Metals and Stones, which provides a critical foundation for the Company’s long-term development of its gold and commodities business.
Notably, the gold purchase agreement with Rongxin was executed and completed at a price of RMB 473.70 per gram (about US$1,900 per ounce), which presents significant cost advantage. As the gold delivery price surpassed US$2,780 per ounce at the beginning of 2025, the Company's book assets have appreciated by nearly US$25 million, underscoring the foresight of Blue Hat's management in investment and strategic positioning.
Looking Ahead: Growth and Innovation
Mr. Xiaodong Chen, the chief executive officer of the Company, stated: "In recent years, the company's rapid expansion in gold trading and supply industry has validated our strategic focus. In 2025, we will continue to increase our gold reserves, deeply integrate upstream and downstream supply chain resources, and accelerate the development and promotion of digitalized gold trading platforms, to create a transparent and efficient gold trading ecosystem. Our goal is to create greater value for our shareholders through business model innovation."
As part of its 2025 objectives, Blue Hat plans to focus on the following three areas:
1. Increasing gold reserves: Increasing the proportion of gold assets through strategic alliances with international partners.
2. Optimizing supply chain operations: Enhancing the efficiency of the gold supply chain through the development of intelligent platform and regional expansion.
3. Promoting technological innovation: Accelerating the development of blockchain-based trading platforms to enable the digitization and global circulation of gold assets.
Blue Hat remains committed to upholding the principles of innovation and sustainable development, and will continue to leverage its robust business growth exceptional management capabilities to deliver long-term value to global shareholders and partners.
About Blue Hat
Blue Hat was formerly a provider of communication services, as well as a producer, developer, and operator of AR interactive entertainment games, toys, and educational materials in China. Leveraging years of technological accumulation and unique patented technology, Blue Hat is expanding its business to commodity trading, aiming to become a leading intelligent commodity trader worldwide. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.
Contacts :
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email:
[email protected]