As the post-COVID 19 era approaches, the Youa Group (“YOUA”) decided to reorganize and transition all existing businesses in China and other countries into cryptocurrency and blockchain businesses, with various personnel transferred accordingly.
Due to personal reasons, Joanna (renowned nephew of the Wuliangye Group’s chairman) has temporarily stepped down from her position as president of YOUA. Also, Ren Yuting, the president of U.N. International Society Fund (also chairwoman of the Bureau of America-Chinese Silk Road Chamber of Commerce under the United Nations Global Compact), has recently joined YOUA as a key executive member.
Leadership changes:
Ren Yuting is well-known in Wall Street circles, as she is experienced in managing assets for top American families, such as the Rockefeller family. She once managed a trust fund that is worth $4 trillion dollars. YOUA is pleased to welcome Ren Yuting as she will play a prominent role in establishing various networks and connections within Wall Street. With its plans to reorganize its business around blockchain, financial investment and entertainment sector, YOUA will transition into crypto-specialized investment company by selling or merging its various existing businesses (with exception to franchise businesses, such as Sujianqiji and Zhongqing Chuang).
The Hong Kong based YOUA holding company will now transfer to the Cayman Islands, where Alibaba Holdings is located. Afterwards, YOUA will start its preparation to listing on NASDAQ as a special purpose acquisition company (SPAC). As mentioned above, the existing businesses in China will be sold and liquidated, while the remaining businesses will be transferred to South Korea and the United States. They will then be reorganized into cryptocurrency related businesses.
As evidenced by continually increasing value of Bitcoin (currently, over $58,000 USD), YOUA recognized that the era of using cryptocurrency platform in a global stage (rather than mere investment tool) has arrived. In addition, the cryptocurrency industry has received support from the local and national government in Korea as there is no anti-cryptocurrency policy like our China counterparts. For that reason, YOUA believes that Korea is the best environment and market for its cryptocurrency businesses.
In addition, as KPOP and Korean Wave dramas (collectively, “Hallyu”) has been receiving international fame and recognition, YOUA believes that it will provide a cornerstone to its cryptocurrency-based drama “Pumping Time” (the very first cryptocurrency based production in the world). Through its success, YOUA believes it will propel its business to reach a global scale. For its business in China, YOUA shall use its already-established various partnerships and franchise networks for cooperation and outsourcing purposes to operate its cryptocurrency token issuance services.
Moving forward – YOUA and “FINE”:
YOUA will operate under the FINE strategy, with “F” representing the new “Finance” business (previously, stood for franchise business), which will now transition into being responsible for investment into various cryptocurrency related projects.
As a result, YOUA will implement its business plan as follows: “F” for “Finance” as to specialized investment into Blockchain Cryptocurrency projects (Youa Holdings), “I” for “IT” as to Cryptocurrency Exchange business (Coinism), “N” for “NEW” as to businesses relating to Business Incubation (Golden Cross Infitini), and “E” for “Entertainment” (Kplay Contents). At the end of February, YOUA, with investment into its Korea group, opened an office near Gangnam Station.
As early as April 2021, YOUA is planning to open an office in New York.
