Delin Holdings (01709.HK) Popular Stock Analysis Report

Delin Holdings (01709.HK) recently entered the East Money App Hong Kong Stock Popularity List [1], driven mainly by two catalysts: first, the announcement on December 14, 2025, of expanding institutional-grade Bitcoin mining business, including overseas mining farm layout and the purchase of mining machines with a hash rate of 1.060 EH/s [2]; second, on December 17, 2025, Chairman Chen Ningdi increased his holdings by 2 million shares (average price HK$1.52) and plans to buy another 20 million shares in the next 3 months [3]. As of December 18, 2025, the stock price was approximately HK$1.43, a 5.66% drop from the purchase price [1], with a large sell order of 1.3 million shares (transaction price HK$1.49) and a short selling amount of HK$411,200 on that day [4].

1. Business Transformation and Market Reaction
   : The strategic shift from a joint family office to digital finance (Bitcoin mining) has linked the company to cryptocurrency market sentiment, but the current stock price decline reflects investors’ cautious attitude towards transformation uncertainty.
2. Internal Confidence and Market Divergence
   : The chairman’s large-scale share purchase conveys internal confidence in the company’s prospects [3], but the intraday stock price drop may stem from short-term profit-taking or doubts about the profit prospects of the mining business.
3. Liquidity and Volatility Risks
   : Low stock price (about HK$1.43) and limited trading volume lead to high short-term volatility risks; investors need to pay attention to the transmission impact of cryptocurrency price trends.

• Transformation Uncertainty
  : There is high uncertainty in the regulatory environment, business model, and profit prospects of the transformation from traditional finance to Bitcoin mining business.
• Cryptocurrency Price Risk
  : Mining business revenue directly depends on Bitcoin prices; a sharp drop in prices will affect performance.
• Liquidity Risk
  : Low stock price and limited trading volume may exacerbate short-term price fluctuations.

• Chairman’s Share Purchase Plan
  : The large-scale share purchase plan by internal executives may enhance long-term market confidence.
• Potential Benefits from Cryptocurrency Market
  : If Bitcoin prices rise, the revenue capacity of the mining business will increase.

Delin Holdings has become a popular Hong Kong stock due to business transformation and internal share purchases. The current stock price has fallen by 5.66% compared to the purchase price, reflecting the market’s cautious attitude towards the transformation. Investors need to pay attention to cryptocurrency price trends, mining business progress, and changes in market sentiment. The purchase price of HK$1.52 may become a short-term support level, and the resistance level needs to be determined based on market reactions to the transformation business.