Recently, Hong Kong's encryption concept stocks have attracted widespread attention in the market. However, after in-depth analysis, it is found that this field faces many challenges and restrictions.

First of all, mainland customers cannot participate. Due to policy restrictions, mainland residents are not allowed to open relevant accounts, cannot conduct currency exchanges, and are not allowed to buy or sell virtual assets. Even investors who have participated before may face tax issues.

Secondly, for overseas clients, Hong Kong's encryption concept stocks seem to lack appeal. There are many established exchanges and brokers in the international market, and foreign investors are unlikely to invest funds into platforms with Chinese backgrounds.

Currently, the only possible customer group is those wealthy individuals who have already left the mainland but still maintain a high level of trust in Chinese state-owned enterprises. However, there is uncertainty regarding the size and sustainability of this group.

Nevertheless, it is worth noting that the stock price of Guotai Junan Securities surged nearly 200% in one day, a phenomenon that allowed many investors to break even. This may reflect the market's short-term enthusiasm for encryption concepts, but the long-term outlook remains unclear.

Overall, Hong Kong's encryption concept stocks face multiple challenges such as a limited customer base and fierce market competition. Investors need to consider various factors comprehensively and carefully assess their investment value and potential risks when following this field.