Xinhuo Group's stock price soared over 11% intraday following the announcement that Fu Peng, former Chief Economist at Northeast Securities, has joined the company as Chief Economist. Fu Peng will focus on integrating digital assets into global asset allocation, enhancing Xinhuo's offerings to institutional clients. This marks his first public role since leaving Northeast Securities nearly a year ago. Fu Peng's appointment is seen as a strategic move by Xinhuo Group, which is transitioning from a trading platform to an institutional service provider. The company aims to leverage Fu Peng's expertise in global macroeconomic analysis and his influence in the financial community to build trust and confidence in digital assets among high-net-worth clients. Xinhuo, now known as Bitfire Group Holdings Limited, is targeting profitability in fiscal year 2026 after significant revenue growth in 2025.