CEO of Dunxin Financial gave a speech at the Company's management innovation conference

"The Metaverse is an alternative living space to the human spiritual world" -- Ricky Wei, CEO of Dunxin Financial（DXF）

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Nov 22, 2021, 07:54 ET

WUHAN, China, Nov. 22, 2021 /PRNewswire/ -- On 15th Nov 2021, Ricky Wei, CEO of Dunxin Financial (NYSE MKT: DXF, the Company), gave a speech at the Company's management innovation conference about the transformation of business to into Metaverse. He explained the challenges and opportunities of the Metaverse industry through four aspects, and also commented the "way of survival" of Dunxin Financial in difficult times. The following is the original text of the conference:

Dunxin Financial primarily engaged in the business of providing loan facilities and investment. We continuously searched for and explored the quality projects in the past two years. We analyzed various projects in medical health, bio-pharmaceuticals, new materials, modern manufacturing, new retail, and eventually we drew out attention to projects in block chain industry.

After eighteen months in-depth research and analysis, we note that block chain as underlying technology is widely applied in various industries. These applications include: NFT (Non-Fungible Token), Cryptocurrency, IR/VR hardware, and immerse-games. Together with the rapid development of communication technology, the complete coverage of 4G, the development of 5G, and the imminent arrival of 6G, it leads to the birth of a new ecological model of human communication, exchange, interaction, and even survival.

Personally, I believe that Metaverse is a concept based on the "snow crash" --(a science fiction novel written by Neal Stephenson), which is just an adjective and cannot properly define the Metaverse. In the future, by these advanced interactive technologies, a group of people with similar common value and cultural consensus , will not only have their respective roles in reality, but also realize the second life in the virtual space. If we define Metaverse scientifically and rationally, it should be another real living space of human spiritual world.

The concept of Metaverse suddenly swept the globe recently and led to debate in both academia and related industries, among which some are fully committed and some are speculators. There is no doubt that we are committed and fully prepared. As I just mentioned, the exact definition of Metaverse is "a space of spiritual reality in another world of a person". As a human being in this space, all his needs will appear except for the physical nature of life to maintaining. We have already found such projects and are pushing forward in-depth, we will disclose more details in future.

We have obvious advantages when we transform our business into Metaverse industry. First of all, our team consists of professionals with rich investment experience. We are capable of grasping the trend and discover the logic of an industry timely. Secondly, we are a NYSE listed company with standardized procedures and operational practice. Although our traditional business development has been hindered by the market, change and innovation are our natural trends, and the NYSE capital market may provide us with full support.

Nowadays is an era of rapid change and innovation, there are already Internet tycoons entered into Metaverse industry, such as Facebook, Microsoft, Tencent and Alibaba. I personally believe that they have their own innate advantages for sure, such as capital and branding. Meanwhile they have a lot of disadvantages because of their size. In this immeasurably huge market, lots of small and new companies may emerge in segments of whole industry chain. Dunxin Financial already found a foothold in the industry and is ready to take off. We are confident that we can together work with these large organizations in this industry and I have every reason to believe that we are on the same starting line at this point.

Dunxin Financial is a micro-finance company with a government license. We encountered difficulties in the past two years, but we still have solid foundation and assets. Our asset quality is sufficient to ensure that we can successfully complete our new business transformation. In the past two years we focused our operation in two aspects: tackle the issues we faced and the conduct in-depth market research and seek innovative development. We believe with our professional attitude of seeking truth and pragmatism, we may well-position us in the block chain and Metaverse industry.

SOURCE Dunxin Financial Holding Limited