Qian Fenglei Restructures Capital Market with "FO-X" Strategy: Acquires 600 Million HKD Stake to Take Control of WellCell, Aiming for Trillion-Dollar Web3 Ecosystem

Heng Feng Limited, owned by entrepreneur Qian Fenglei, completed a 600 million HKD acquisition of a 10% stake in Hong Kong-listed WellCell (02477.HK) on May 9, 2025, raising its total ownership to 29.9% and becoming the largest shareholder. This strategic takeover is part of Qian's "FO-X" strategy to build a Web3 ecosystem.