Chow Tai Fook Jewellery Group Co-CEO: The Board Has No Plans to Develop Digital Currency or Stablecoin; SCO Development Is Adrian Cheng’s Private Investment

ChainCatcher news, according to Aastocks, Adrian Cheng, who resigned as CEO of New World Development last September, recently announced the establishment of a new company, "Shanghe Development," which plans to expand into the digital and virtual assets sector. After the earnings press conference, Adrian Cheng's younger brother, Kent Cheng, Executive Director and Group Co-President and CEO of Chow Tai Fook Enterprises, stated that "Shanghe Development is Adrian Cheng's private investment" and clarified that the Chow Tai Fook Enterprises board has no plans to develop digital currencies or stablecoins.