Sharing Group decides not to invest in blockchain business

According to Gronway News, Sharing Group (03344.HK) announced a memorandum of understanding on June 12, 2018 to inject capital into two target companies. As disclosed above, the two target companies are principally engaged in financial technology business, including blockchain technology and IoT technology business, operating a shared economic supply chain online platform based on blockchain technology, with particular emphasis on Internet agriculture sharing. After further consideration and research by the company, the company believes that the blockchain technology is not yet mature, and the market still has reservations about the technology. Therefore, the company decided not to invest in such business.