Exhibit 8.1
Subsidiaries
| Date of | Place of | |||||||||
| Incorporation or | incorporation or | Ownership | ||||||||
| Company name | acquisition | establishment | interest | Principal activities | ||||||
| Lion Financial Group Limited | June 16, 2015 | British Virgin Islands | 100 | % | Investment holding | |||||
| Lion Wealth Management Limited | February 16, 2017 | British Virgin Islands | 100 | % | Investment holding | |||||
| Lion International Securities Group Limited | May 20, 2016 | Hong Kong | 100 | % | Securities brokerage | |||||
| Lion Futures Limited | May 20, 2016 | Hong Kong | 100 | % | Futures brokerage | |||||
| Lion Investment (Hong Kong) Limited (F/K/A Lion Foreign Exchange Limited) | May 20, 2016 | Hong Kong | 100 | % | Dormant | |||||
| Lion Asset Management Limited (F/K/A Lion Capital Management Limited) | May 20, 2016 | Hong Kong | 100 | % | Assets management | |||||
| BC Wealth Management Limited | October 14, 2014 | Hong Kong | 100 | % | Insurance brokerage | |||||
| Lion Wealth Limited | October 4, 2018 | Hong Kong | 100 | % | Marketing and support service | |||||
| Lion Brokers Limited | May 2, 2017 | Cayman Islands | 100 | % | Broker dealer and market maker | |||||
| Lion Investment Fund SPC | June 11, 2019 | Cayman Islands | 100 | % | Dormant | |||||
| Lion International Financial (Singapore) Pte. LTD. | July 26,2019 | Singapore | 100 | % | Dormant | |||||
| Lion Group North America Corp. (F/K/A Proficient Alpha Acquisition Corp.) | June 16, 2020 | Nevada, USA | 100 | % | Dormant | |||||
| Lion Fintech Group Limited | April 13, 2021 | British Virgin Islands | 100 | % | Investment holding | |||||
| Royal Lion Investment Limited | April 13, 2021 | Cayman Islands | 70 | % | Investment holding | |||||
| Royal Lion Middle East DMCC | April 13, 2021 | Dubai | 70 | % | Trading in crypto-commodities | |||||
| Lion NFT Limited | May 7, 2021 | British Virgin Islands | 90 | % | Investment and innovation in digital assets | |||||
| Flying Lion Limited | June 17, 2021 | Cayman Islands | 70 | % | Investment and innovation in digital assets | |||||
| Lion Group (Hangzhou) Investment Limited | May 7, 2021 | China | 100 | % | Technology development, consulting, conference and exhibition services | |||||
| Aquarius Sponsor Ltd. | April 12, 2021 | British Virgin Islands | 51 | % | Investment holding | |||||
| Aquarius II Sponsor Ltd/ | May 4, 2021 | British Virgin Islands | 51 | % | Investment holding | |||||
| Aquarius I Acquisition Corp. | April 15, 2021 | Cayman Islands | 51 | % | Special purpose acquisition company | |||||
| Aquarius II Acquisition Corp. | May 5, 2021 | Cayman Islands | 51 | % | Special purpose acquisition company | |||||
| Lion Metaverse Limited | October 26, 2021 | British Virgin Islands | 50 | % | Technology development | |||||
| Lion Multi-Series Fund SPC | December 3, 2021 | Cayman Islands | 100 | % | Assets management | |||||
| Lion Silver Capital Limited | February 24, 2022 | British Virgin Islands | 51 | % | Assets management | |||||