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XI’AN, CHINA - Enlightify Inc. (NYSE:ENFY), a small-cap company currently valued at $17.7 million with a weak financial health score according to InvestingPro, announced Wednesday the strategic repositioning of its wholly owned subsidiary Anteaus LLC to concentrate on blockchain-based operations and digital asset infrastructure.
According to the company’s press release, Anteaus will shift its focus to providing services including staking, node operations, digital asset management, and structured products development. The subsidiary was initially established to explore emerging technologies. This strategic shift comes as the company faces challenging financial metrics, with revenue declining by 22% and an EBITDA of -$27.3 million in the last twelve months.
Jian Huang, newly appointed Co-Chief Executive Officer of Enlightify, stated that "Anteaus represents our renewed commitment to driving institutional innovation in the digital asset space."
The company indicated that Anteaus will operate across multiple blockchain ecosystems, providing validator infrastructure, multi-chain staking, key management, and native crypto investment strategies.
Enlightify’s core business has historically been in agricultural products, producing humic acid-based compound fertilizers through its subsidiaries Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. and Beijing Gufeng Chemical Products Co., Ltd.
In 2023, the company expanded into digital assets by establishing Antaeus Tech Inc. in Delaware and beginning bitcoin mining operations in Texas.
The announcement represents a continuation of Enlightify’s diversification beyond its traditional agricultural business into blockchain technology. The company stated it remains committed to investing in advanced technologies and strategic partnerships to support digital innovation.
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In other recent news, Enlightify Inc. announced significant changes to its Board of Directors. Tianping Cai has been appointed as the new Chairman of the Audit Committee, succeeding Mr. Daqing Zhu, who recently resigned from the Board and his committee roles. Cai will also participate in the Nominating and Compensation Committees. His extensive background in corporate finance, audit oversight, and regulatory compliance is expected to bolster the company’s financial governance. The company made this announcement through an 8-K filing with the Securities and Exchange Commission. Cai’s employment agreement with Enlightify has been disclosed, outlining the terms of his engagement, although specific details were not provided. These developments reflect Enlightify’s ongoing efforts to strengthen its leadership and governance practices.
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