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