Welcome to our dedicated page for Santech Holdings news (Ticker: STEC), a resource for investors and traders seeking the latest updates and insights on Santech Holdings stock.
The STEC news page on Stock Titan provides an organized view of historical announcements and regulatory updates related to Santech Holdings Limited, the company that previously traded on Nasdaq under the symbol STEC before changing its name to BitVentures Limited and its ticker to BVC. These news items document Santech’s transition from financial services toward a broader technology-focused strategy.
Press releases associated with STEC describe Santech as a technology-focused or consumer-focused technology company that historically served high net-worth clients in China and Hong Kong in wealth management, asset management and health management. Later news explains that the company exited or disposed of these financial services businesses, including the sale of specific Hong Kong subsidiaries, and no longer held financial services licenses in Hong Kong after those transactions.
Other STEC news items cover topics such as unaudited financial results, changes to the board of directors and senior management, auditor changes, and communications with Nasdaq regarding listing compliance, including minimum bid price requirements and filing deadlines for its annual report on Form 20-F. These updates illustrate the company’s restructuring efforts and strategic transformation toward technology verticals, including consumer technologies, enterprise technologies, and areas described as new retail, social e-commerce and metaverse.
Later filings and press releases also reference the company’s evolution into BitVentures Limited, which describes its activities in technology verticals such as e-commerce, digital assets, consumer healthcare and other consumer and enterprise technology areas. By reviewing the STEC news stream, users can trace the sequence of corporate actions, regulatory communications and strategic announcements that led from Santech’s legacy financial services operations to its rebranded identity as BitVentures Limited (BVC). This makes the STEC news archive a useful resource for understanding the company’s historical trajectory.
BitVentures (BVC) announced the launch of a Digital Assets segment and completed definitive purchase and hosting agreements to acquire cryptocurrency mining fleets and hosting capacity totaling approximately 0.5 MW.
The acquired miners include Antminer S21 XP Hydro, Antminer S21 XP air-cooled and Antminer L9 models, delivering an aggregate Bitcoin hashrate of 30 PH/s and a combined Litecoin/Dogecoin hashrate of 0.5 TH/s. Deployment will occur in batches starting January 2026 with full operational ramp-up in Q1 2026. The company cited energy efficiency of 12–13.5 J/TH for Bitcoin and 0.21 J/MH for Litecoin/Dogecoin machines and said it intends to scale methodically and pursue diversified mining and broader digital asset services subject to market conditions.
Santech Holdings (NASDAQ: STEC) reported its unaudited financial results for H1 FY2025. The company has undergone significant restructuring, completely exiting its overseas wealth management and asset management businesses in August 2024. Total revenues from continuing operations dropped to nil from US$17.4 million in the same period last year.
Under discontinued operations, total revenues decreased by 72.1% to US$1.2 million for the two months ended August 31, 2024. The company disposed of several Hong Kong subsidiaries, with asset management businesses sold for US$0.6 million and wealth management units for nil consideration. General and administrative expenses from continuing operations decreased by 4.3% to US$2.4 million.
Santech Holdings (NASDAQ: STEC) has announced the filing of its annual report on Form 20-F with the Securities and Exchange Commission (SEC) for the fiscal year ended June 30, 2024. The report was filed on May 13, 2025, and contains the company's audited combined financial statements. Shareholders can access the annual report through Santech's investor relations website or the SEC's website. The company is offering free hard copies of the report to shareholders and ADS holders upon request via email.
[]Santech Holdings (NASDAQ: STEC) has completed a share issuance on March 19, 2025, raising US$1.0 million in capital through a subscription agreement with Carmel Holdings The agreement, signed on March 17, 2025, involves the issuance of 112,000,000 restricted ordinary shares.
The transaction, approved by all independent directors, will provide funds for the company's liquidity and working capital requirements. Carmel Holdings , incorporated in the British Virgin Islands, is controlled by CEO Lawrence Wai Lok. This share issuance represents a significant step in Santech's ongoing restructuring and business reorganization efforts.
Santech Holdings (NASDAQ: STEC) has successfully regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2), as confirmed by a notification received from The Nasdaq Stock Market on March 12, 2025. The exchange has officially closed this matter, marking a positive development for the company's continued listing status.
Santech Holdings (NASDAQ: STEC) has announced significant changes to its Board of Directors and senior management. Lawrence Wai Lok has been appointed as both Chairman of the Board and CEO, following the removal of directors Han Hongwei and Wang Dian who were unable to fulfill their duties for an extended period.
The company has strengthened its corporate governance by appointing two new Independent Directors: Howard Chan, a US Certified Public Accountant with extensive corporate finance experience in China and Hong Kong, and Geoffrey Kam, a Hong Kong solicitor specializing in various litigation matters. Chan will join the Audit Committee, which is now fully comprised of three independent directors.
These appointments are part of Santech's efforts in restructuring and strategic transformation, bringing additional expertise in legal, finance, and accounting to the Board.
Santech Holdings (NASDAQ: STEC) has received an extension from Nasdaq to file its Annual Report on Form 20-F for the fiscal year ended June 30, 2024. This follows a deficiency letter received in November 2024 due to non-compliance with Listing Rule 5250(c)(1). After submitting a compliance plan before the January 21, 2025 deadline, Nasdaq granted Santech an extension until May 14, 2025 to file the report.
If Santech fails to meet this extended deadline, Nasdaq will notify the company of potential delisting, though Santech would have the right to appeal to a Hearings Panel. The company states it is working diligently to complete and submit the filing before the new deadline.
Santech Holdings has announced two significant corporate developments on January 22, 2025. First, the company's Audit Committee has appointed Audit Alliance LLP as its new independent registered public accounting firm, replacing Marcum Asia CPAs LLP, effective from November 15, 2024. The change was attributed to recent significant changes in the company's business focus and scale, not due to any disagreements on accounting principles or practices.
Secondly, the company has submitted a compliance plan to Nasdaq requesting an extension to regain compliance with continued listing requirements. The plan outlines the timeline for filing its Annual Report on Form 20-F for the fiscal year ended June 30, 2024, to become current with reporting requirements within Nasdaq's discretionary period.
Santech Holdings (NASDAQ: STEC) has received a 180-day extension from Nasdaq to regain compliance with the minimum bid price requirement. The extension, granted until May 26, 2025, follows the company's transfer from Nasdaq Global Market to Nasdaq Capital Market, effective December 5, 2024.
The extension was granted based on Santech meeting market value requirements, expressing intention to implement a reverse stock split if necessary, and agreeing to Nasdaq Listing Agreement conditions. To regain compliance, the company's closing bid price must meet or exceed $1.00 per ADS for at least ten consecutive business days.
Santech Holdings (NASDAQ: STEC) has received a non-compliance notice from Nasdaq on November 21, 2024, due to failing to file its annual report Form 20-F for the year ended June 30, 2024 on time. While this notice doesn't immediately affect the company's listing status, Santech has 60 days to submit a compliance plan to Nasdaq. If accepted, Santech could receive up to 180 days from the original due date, until May 14, 2024, to regain compliance. The company is working with advisers to prepare the filing or develop a compliance plan within the required timeframe.
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