Yunfeng Financial Group

What Yunfeng Financial Group does

Yunfeng Financial Group Limited (HKEX: 376) is a Hong Kong-headquartered, publicly listed financial technology group that delivers integrated insurance, securities brokerage, asset management, and emerging digital-asset services to individual investors, institutional clients, and high-net-worth individuals. Its core subsidiaries include 万通保险 (Wan Tong Insurance / Massachusetts Mutual Life Insurance Hong Kong), which provides life insurance, reinsurance, and MPF trustee services, and 云锋有鱼 (Yunfeng Youyu), a self-serve mobile application for trading Hong Kong, US, and Shanghai-Hong Kong Stock Connect securities. The group is strategically backed by Yunfeng Financial Holdings (associated with Jack Ma) and MassMutual, and operates under Hong Kong SFC Type 1, 4, and 9 licenses plus an Insurance Authority long-term insurance license, with a newly approved Bermuda reinsurer license in conditional form.

The business model blends recurring insurance premiums and asset management fees with transaction-based securities commissions and, increasingly, digital-asset service fees. FY2025 disclosed figures include HKD 5.705 billion in annualized new premiums (up 108% year-over-year), HKD 1.548 billion in new business value (up 126%), and HKD 653 million in shareholder attributable profit (up 39%). Distribution is hybrid: the licensed Wan Tong agency and broker network for high-touch insurance and wealth products, combined with the Youyu mobile app for retail brokerage and the newly launched Yunfeng Youyu Physical Gold Token, which tokenizes 99.99% pure gold (1 gram per token) stored in Hong Kong vaults using AlphaToken blockchain infrastructure for professional investors.

The group's stated strategic thesis is to combine traditional finance with Web3 infrastructure under an "AI + Web3" closed-loop ecosystem. Recent moves include a strategic investment in WooshPay (cross-border payments), the lead role in Anthea's US$22 million Series A (Ethereum-denominated life insurance), the Gold Token launch, and a HKD 1.17 billion share placement to expand the capital and shareholder base. Primary operating geographies are Hong Kong, Singapore, and (post-approval) Bermuda, with product distribution reaching additional Asia-Pacific markets through investee and partner networks.

Name

Yunfeng Financial Group

Legal name

Yunfeng Financial Group Limited (云锋金融集团有限公司)

Website

https://yff.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

Yunfeng Financial Group (HKEX: 376) is a Hong Kong-listed fintech financial group offering life insurance (Wan Tong/MassMutual), securities brokerage (Yunfeng Youyu app), asset management, and tokenized gold products to retail, institutional, and high-net-worth clients across Asia.

Ownership category

akta.pro rank

Product category

Diversified Financial Services

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), All Other Financial Investment Activities (52399)

SIC

Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls) (FSAPAIAE)

akta.pro secondary industries

Smart Contract & Token Operations Infrastructure (Lifecycle, Corporate Actions) (FSAGAMAH), Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB), Managed Accounts, Separately Managed Accounts (SMA) & Funds Platforms (Crypto) (FSADAHAM)

Keywords

• Securities brokerage services
• Life insurance underwriting
• Asset management services
• Digital asset tokenization
• Wealth management platform

Headquarters

HQ city

Central

HQ country

Hong Kong SAR China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Insurance Business (保险业务): Life insurance and related insurance products through subsidiary 万通保险 (MassMutual), with 2025 annualized new premiums of HK$5.705 billion representing 108% YoY growth.
2. Securities Brokerage (证券经纪): Commission-based securities trading services for Hong Kong stocks, US stocks, and Shanghai-Hong Kong Stock Connect through Yunfeng Youyu platform.
3. Asset Management (资产管理): Asset management services provided through SFC-licensed subsidiaries holding Type 1, 4, and 9 licenses.
4. Digital Asset Services (数字资产服务): Gold token and digital asset services, including tokenization of physical assets on blockchain for professional investors.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Yunfeng Financial Group is a Hong Kong-listed fintech holding company operating across four business lines: (1) securities brokerage delivered through the Yunfeng Youyu mobile app for Hong Kong, US, and Shanghai-Hong Kong Stock Connect trading; (2) long-term life insurance and MPF trustee services via the Wan Tong Insurance subsidiary under partnership with MassMutual; (3) SFC-licensed asset management for institutional and professional investors; and (4) emerging Web3/digital asset services including a physical gold token product backed by 99.99% pure gold stored in Hong Kong vaults and built on AlphaToken blockchain infrastructure.

Product overview

Yunfeng Financial Group is a Hong Kong-listed (00376.HK) fintech financial services company with a platform-plus-services architecture. Core offerings include: (1) Yunfeng Youyu mobile app for securities trading; (2) Physical Gold Token product built on AlphaToken blockchain infrastructure; (3) Wantai Insurance subsidiary for long-term insurance and MPF services; (4) Asset management services via SFC-licensed subsidiaries; and (5) Strategic investments in blockchain-enabled insurance products like Anthea. The group holds Hong Kong SFC Type 1, 4, and 9 licenses and Insurance Authority long-term insurance licenses, positioning itself as a bridge between traditional finance and Web 3 digital asset services.

Differentiator

Problem solved

Functional benefit

Brands

• Wan Tong Insurance (万通保险): Insurance brand offering life insurance, reinsurance, and wealth management services with Hong Kong Insurance Authority long-term insurance license and Mandatory Provident Fund trustee qualifications.
• Yunfeng Youyu (云锋有鱼)
• Yunfeng Youyu Gold Token (云锋有鱼实物黄金代币)
• NeuralFin
• ARTi

Products and services

• Yunfeng Youyu (云锋有鱼) Mobile App Mobile application providing securities trading services for individual investors, including real-time market data and trading in Hong Kong stocks, US stocks, and Shanghai-Hong Kong Stock Connect securities.
• Yunfeng Youyu Physical Gold Token (云锋有鱼实物黄金代币) Digital token backed by physical gold bullion (99.99% pure, 1 gram per token) stored in high-security Hong Kong vaults, built on AlphaToken blockchain infrastructure and offered to professional investors via the Yunfeng Youyu platform.
• Wan Tong Insurance (万通保险) Life Insurance and MPF Services Long-term life insurance, reinsurance, and Mandatory Provident Fund (MPF) trustee services offered through the Wan Tong Insurance subsidiary, holding a Hong Kong Insurance Authority long-term insurance license and MPF trustee qualification, leveraging the MassMutual brand and expertise.
• Securities Brokerage Services Fintech-driven securities brokerage services for individual, institutional, and corporate clients, providing professional market information and trading execution through online and mobile channels.
• Asset Management Services Asset management services provided through Hong Kong SFC-licensed subsidiaries holding Type 9 (asset management), Type 1 (dealing in securities), and Type 4 (advising on securities) licenses for institutional and professional investors.
• FinTech / Web3 Digital Asset Services Technology-oriented financial services focused on tokenization and digital assets, building a Web3 financial services ecosystem based on blockchain technology that integrates with the group's traditional insurance, securities, and asset management businesses.

Quantifiable outcome

• Annualized new premiums grew 108% YoY to HK$5.705 billion
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• AlphaTokencoreTechnology or Integration · 13 May 2026AlphaToken, a startup led by a former Ant Group executive, provides blockchain infrastructure for Yunfeng Financial's gold token product on the Yunfeng Youyu platform. This partnership enables the tokenization of physical gold (99.99% pure, 1 gram per token) stored in Hong Kong vaults, supporting the company's digital asset strategy.
• WooshPaycoreStrategic or Co-development Partner · 30 April 2026Yunfeng Financial made a strategic investment in WooshPay, a global financial infrastructure and cross-border payment service provider. This investment supports the构筑 'AI + Web3' digital financial ecosystem closed loop strategy.
• 美国万通人寿保险公司 (MassMutual)flagshipStrategic or Co-development PartnerMassMutual is a major shareholder and strategic partner of Yunfeng Financial Group. As one of the top 5 life insurance companies in the US, MassMutual provides insurance expertise and brand credibility. 万通保险 operates under this partnership, holding Hong Kong IA long-term insurance license and MPF trustee qualification.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• HashKey Group: Hong Kong-headquartered digital asset group operating HashKey Exchange and licensed trading/custody services under SFC supervision. Direct peer because both companies target the same intersection of regulated Hong Kong finance and on-chain tokenized assets.
• Futu Holdings: Hong Kong/Chinese online brokerage (FUTU/Niuniu) offering Hong Kong, US and Stock Connect trading through a mobile app. Direct peer because both companies serve retail investors with mobile-first securities trading plus wealth-management overlays in the same regulatory perimeter.
• Tiger Brokers: Cross-border online brokerage (UP Fintech Holding) focused on Asian investors trading Hong Kong and US equities. Direct peer due to overlapping mobile brokerage product, retail investor customer base, and Hong Kong regulatory nexus.
• ZA Bank: Hong Kong's largest virtual bank and a ZA Group fintech, offering integrated trading, lending and wealth products inside a HKMA-regulated banking license. Direct peer because it competes for the same Hong Kong retail investor wallet with a digital-first, multi-product financial-services app.
• AMINA Bank (formerly SEBA Bank): Switzerland-headquartered, FINMA-regulated crypto bank providing institutional custody, trading and tokenization services. Direct peer because it operates regulated institutional digital-asset custody and tokenization infrastructure comparable to what Yunfeng Youyu is building with the gold token.
• Sygnum Bank: Swiss and Singapore-licensed digital asset bank offering institutional crypto banking, custody, and tokenization services. Direct peer because its regulated digital-asset banking, tokenization, and B2B2C financial-product model mirrors Yunfeng's Web3 strategy.

Others

• LianLian DigiTech: Cross-border payments and fintech infrastructure provider serving Chinese merchants. Comparable as an ecosystem adjacency: Yunfeng invested in WooshPay partly to enter the same cross-border payments corridor LianLian dominates.
• China Renaissance Holdings: Hong Kong-headquartered investment bank with fintech and new-economy focus, and an early backer of Yunfeng's ecosystem. Comparable as a Hong Kong-listed capital-markets and fintech-platform peer in the same Greater China investment ecosystem.

Broad incumbents

• AIA Group: Hong Kong-headquartered pan-Asian life-insurance incumbent with dominant Hong Kong and Greater China distribution. Comparable as a large, established Hong Kong life insurer whose scale, agent network, and product breadth set the competitive ceiling for Yunfeng's 万通保险 business.
• Ping An Insurance: Mainland China-headquartered insurance and fintech conglomerate combining life insurance, banking, asset management and technology (Lufax, OneConnect). Comparable as a diversified insurance-plus-fintech conglomerate pursuing digital-asset integration at much larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Yunfeng Financial Group