Core Viewpoint - The recent significant stock price increase of Huajian Medical (01931.HK) is closely linked to its strategic initiatives, including plans for a dual primary listing on NASDAQ and the launch of innovative financial products in the medical sector [1][2]. Group 1: Stock Price Volatility Drivers - The stock price of Huajian Medical has seen a cumulative increase of approximately 120% in July and an additional 62% since August, with a single-day increase of 38.43% on August 6, leading to a market capitalization exceeding 12.8 billion HKD [1][2]. - Key strategic announcements include the initiation of a NASDAQ dual primary listing plan on July 14, aimed at expanding the international shareholder base and enhancing participation in global capital markets [2]. - On July 17, the company introduced the RWA Exchange and the IVDD stablecoin, addressing issues of liquidity and financing cycles in medical innovation, which has sparked market interest [2]. - The establishment of a wholly-owned subsidiary, IVD GROUP INC., in New York and the submission of stablecoin license applications to SEC and CFTC on July 20 further solidified its global compliance strategy [2]. Group 2: Ethereum Vault Strategy - The Ethereum Vault strategy launched on August 8 includes a reserve of 5,190 Ether, positioning Huajian Medical as a leader among Hong Kong-listed companies in terms of Ethereum reserves [3][10]. - The strategy consists of two main components: the Ethereum reserve and the Ethereum creation engine, which utilizes blockchain technology for the tokenization of medical assets [3][10]. - The company’s approach to asset accumulation through diverse funding channels aims to mitigate risks associated with centralized funding sources, emphasizing a long-term and stable asset reserve strategy [9][10]. Group 3: Market Position and Comparisons - Huajian Medical's strategic transformation can be compared to MicroStrategy (MSTR) and Summit Therapeutics Inc. (SMMT), with the former achieving over 100-fold stock price growth and the latter over 20-fold growth in two years [4]. - The company’s stock price, while having increased significantly, suggests that its value growth may still be in the early stages compared to these benchmark companies, indicating potential for further expansion [4]. Group 4: Medical RWA Platform Support - The deep accumulation of resources in the medical industry provides a solid foundation for the RWA platform, supported by a commercial network covering 1,674 tertiary hospitals in China [11]. - The company’s operational capabilities in asset selection and management enhance the platform's sustainability, allowing for the identification of high-value medical innovation assets [11]. - The proactive compliance strategy across regions, including the submission of license applications ahead of regulatory changes, positions the company favorably for international operations [12]. Group 5: Unique Market Characteristics - Huajian Medical is the first company in Hong Kong to clearly implement an Ethereum Vault strategy, offering innovative asset management and valuation dimensions linked to the cryptocurrency market [13]. - The integration of traditional medical assets with blockchain finance through the RWA platform addresses funding efficiency issues in the medical innovation sector, a relatively rare approach in the Hong Kong market [13].

Core Insights - Huajian Medical (01931.HK) has officially launched a strategy for a "Global Enhanced Ethereum (ETH) Treasury" with a focus on establishing a reserve treasury for ETH and aims to become the largest publicly listed entity holding Ethereum [1] Group 1: Strategic Framework - The strategy is supported by two main frameworks: the establishment of an ETH reserve treasury with a dollar-cost averaging approach to continuously increase ETH holdings, and the creation of an ETH value generation engine (ivd.xyz exchange) [1] - The closed-loop model involves "acquisition of innovative drug IP - RWA tokenization - ecological revenue conversion to ETH - treasury reserve enhancement," aimed at achieving asset appreciation and a virtuous cycle [1] Group 2: Downside Protection Mechanism - The strategy features a multi-layered "downside protection mechanism" designed to safeguard the interests of shareholders, RWA holders, and potential investors amid increased market volatility [1] - This mechanism employs diversified risk hedging methods to ensure the safety of investments [1] Group 3: Investment Approach - The innovative design allows Web2 investors to capture financial benefits from Web3 without fear of market fluctuations, effectively bridging traditional financial institutions and digital assets [1] - The strategy transitions ETH assets from "passive holding" to "active income generation, reinvestment, and expansion" [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責 任。 一、 戰略升維之背景及商業邏輯 戰略回顧 茲提述本公司於二零二五年七月十七日發佈之自願性公告及二零二五年 七月二十日發佈之戰略進展相關自願性公告，內容有關本集團啟動「IVDNewCo Exchange」－全 球 首 個 聚 焦 醫 療 創 新 藥NewCo高科技資產的RWA交易所生態 及「IVDD」穩 定 幣 計 劃，致 力 於 以「NewCo +RWA」Web3交易所生態運作模式 徹 底 改 寫 醫 療 創 新 藥 行 業 的 資 本 效 率 與 全 球 化 進 程，解 決 醫 療 創 新 藥 行 業 長 期 面 臨 的 融 資 效 率 低、資 產 流 動 性 差 及 全 球 化 門 檻 高 等 痛 點。 – 1 – 董事會謹此宣佈，已正式將此「NewCo +RWA」Web3交易所命名為「ivd.xyz」（ivd. xyz交易所），本公司矢志構建 ...

Core Viewpoint - Huajian Medical is strategically transitioning from a traditional medical leader to a Web3 financial hub by launching the "Global Enhanced Ethereum Vault" strategy, which involves significant investments in Ethereum (ETH) as a core reserve asset [5][11]. Group 1: Strategic Initiatives - Huajian Medical has initiated a dual-track business model focusing on Ethereum (ETH) reserves and a tokenization engine for medical innovation intellectual property [5]. - The company has partnered with HashKey Group to facilitate large-scale Ethereum (ETH) transactions and explore the integration of crypto assets with real-world assets, particularly in medical innovation [6][7]. - The first purchase of 5,190 Ethereum (ETH) at a price of $3,661 per unit has resulted in a significant unrealized gain, with plans to invest an additional HKD 880 million to become a leading Ethereum reserve holder [8] [20]. Group 2: Market Context and Investment Rationale - Ethereum (ETH) is increasingly viewed as "digital oil" by Wall Street, with significant institutional interest driving its price upward, reaching $4,008.96 on August 8, 2025 [11][12]. - The demand for Ethereum (ETH) is reflected in the rapid accumulation by global companies, with 59 firms holding a total of 1.97 million ETH, representing 1.44% of the circulating supply [12]. - The investment value of Ethereum (ETH) is bolstered by its role as a leading financial infrastructure and its deflationary characteristics post-EIP-1559 upgrade, which has reduced the supply growth rate [13]. Group 3: Risk Mitigation and Value Creation - Huajian Medical has established a seven-layer down protection mechanism to safeguard shareholder interests and mitigate risks associated with Ethereum (ETH) price volatility [15]. - The company employs a three-layer enhancement engine to optimize the returns on its Ethereum vault, focusing on yield generation and capital efficiency [16]. - The strategic framework aims to create a win-win network among researchers, investors, and patients, significantly reducing the time and cost associated with bringing innovative drugs to market [23]. Group 4: Valuation Potential - Huajian Medical's valuation strategy is compared to MicroStrategy and Metaplanet, which have successfully leveraged cryptocurrency investments to enhance their market capitalization [18]. - The company's market capitalization has already surpassed HKD 12 billion, with expectations to exceed HKD 100 billion as the Ethereum vault strategy unfolds [20]. - The performance of Bitmine Immersion Technologies (BMNR), as a leading Ethereum vault holder, serves as a benchmark for Huajian Medical's potential market growth [22].

Core Insights - Hong Kong-listed company Huajian Medical has formed a strategic partnership with HashKey Exchange to advance enterprise-level digital assets and industrial capital upgrades [1] - The collaboration will focus on virtual asset allocation and innovation in industrial capital, particularly in the areas of crypto treasury and Web3 medical asset trading ecosystem [1] - HashKey Exchange aims to promote the compliant implementation and application of digital assets in traditional industries and the Hong Kong capital market [1] Company Developments - Huajian Medical is proactively positioning itself in the digital asset space, demonstrating a commitment to innovation-driven development [1] - The partnership is expected to enhance the company's ability to withstand market fluctuations and provide long-term benefits to shareholders [1] Industry Trends - The digital economy is identified as a new engine for development, with traditional industries needing to integrate actively to gain an advantage in the new technological revolution [1] - HashKey Exchange emphasizes the importance of compliance, security, and transparency in its services, contributing to the construction of a crypto asset treasury and the innovation of medical assets in the Web3 domain [1]

Group 1 - BlackRock invested over $1.2 billion in ETH, significantly outpacing its $267 million investment in BTC, indicating a shift in Wall Street's capital direction towards Ethereum as "digital oil" [1] - BlackRock's Ethereum ETF (ETHA) saw its scale double from $5 billion to over $10 billion in just 10 days, reflecting a changing narrative in the financial sector [1] Group 2 - Huajian Medical announced its transformation into the first enhanced Ethereum vault company in Hong Kong, marking a strategic advancement in the market [3] - The company initiated a global enhanced Ethereum vault strategy with a multi-layered "downside protection" mechanism, including ATM financing and derivatives hedging [4] Group 3 - Huajian Medical signed a strategic agreement with HashKey Group to establish a compliant channel for large-scale ETH transactions and explore the integration of crypto assets with real-world assets [8] - The company approved the purchase of up to 5,190 ETH at an average price of HKD 28,798.21, totaling HKD 149 million, as a significant step in its vault strategy [9] Group 4 - Wall Street's investment logic has shifted, making Ethereum a necessary asset for institutional portfolios, supported by five core value pillars including its deflationary nature and yield generation [10][12] - Ethereum's annual burn rate post-EIP-1559 upgrade is between 1.2% and 2.4%, with a circulation growth rate below 0.5%, enhancing its anti-inflation characteristics [11] Group 5 - Huajian Medical's Ethereum vault strategy is closely linked to its core business of tokenizing medical innovation assets, creating a robust ecosystem [14] - The company aims to establish a Web3 exchange focused on medical intellectual property, integrating Ethereum for transaction settlements and governance [14] Group 6 - Huajian Medical's vault strategy includes an insurance mechanism to mitigate crypto asset volatility and addresses challenges in medical RWA financing [17][18] - The company aspires to become a leading platform in the medical RWA sector, enhancing financing efficiency and enabling fractional investments in high-value medical assets [19] Group 7 - The market is seeking an "Ethereum version of MicroStrategy," with Huajian Medical's systematic layout potentially positioning it for significant market capitalization growth [21] - The company's stock price surged 118% in July, with a single-day increase of 38.43% on August 6, indicating strong market interest [23] Group 8 - Huajian Medical's strategic vision includes applying for stablecoin licenses in both Hong Kong and the U.S., connecting Chinese medical assets with global capital through the Ethereum ecosystem [26] - The company aims to leverage Ethereum's properties to create a new benchmark in the Hong Kong market, integrating real-world assets with the crypto world [26]

Group 1 - BlackRock invested over $1.2 billion in ETH, significantly outpacing its $267 million investment in BTC, indicating a shift in Wall Street's capital direction from Bitcoin as "digital gold" to Ethereum as "digital oil" [1] - The rapid growth of BlackRock's Ethereum ETF (ETHA) from $5 billion to over $10 billion in just 10 days reflects changing investor sentiment towards Ethereum [1] Group 2 - Huajian Medical announced its transformation into the first enhanced Ethereum treasury company in Hong Kong, marking a strategic advancement in the market [2] - The company initiated a global enhanced Ethereum treasury strategy with a multi-layered "downside protection" mechanism and active "yield enhancement" strategies [3] Group 3 - Huajian Medical partnered with HashKey Group to establish a compliant trading channel for large-scale ETH transactions and to explore the integration of crypto assets with real-world assets (RWA) [6] - The company approved the purchase of 5,190 ETH at an average price of HKD 28,798.21, totaling HKD 149 million, as a significant step in its treasury strategy [7] Group 4 - Wall Street's consensus indicates that Ethereum is becoming a necessary asset for institutional investment, supported by five core value pillars including its deflationary nature and yield generation capabilities [8][9] - Ethereum's role as a foundational settlement asset in the DeFi ecosystem positions it as a preferred choice for RWA tokenization and stablecoin issuance [9] Group 5 - Huajian Medical's Ethereum treasury strategy is closely linked to its core business of medical RWA tokenization, aiming to create a unique ecosystem for innovative drug assets [10] - The company's ivd.xyz exchange is designed to facilitate the issuance and trading of medical RWA, integrating Ethereum as a core asset for governance and liquidity [10] Group 6 - The treasury strategy includes an "insurance mechanism" to mitigate volatility risks and a systematic investment approach to smooth costs [13][14] - Huajian Medical aims to address the challenges in innovative drug development financing through its tokenization strategy, enhancing investment efficiency [15] Group 7 - The market is recognizing the potential for Huajian Medical's treasury model to achieve significant valuation, drawing parallels to MicroStrategy's success with Bitcoin [17] - The company's stock price surged by 118% in July and 38.43% on August 6, indicating strong market interest and potential for value discovery [19] Group 8 - Huajian Medical's strategic vision includes applying for stablecoin licenses in both Hong Kong and the U.S., aiming to connect innovative drug assets with global capital through the Ethereum ecosystem [24] - The company's ambition is to leverage Ethereum's properties to create a new benchmark in the Hong Kong market, facilitating the global circulation of Chinese biomedical assets [24]

Group 1 - The core strategy of the company is to launch a "Global Enhanced Ethereum Vault" with a downward protection mechanism, positioning Ethereum (ETH) as a strategic reserve asset [2][5] - The company has entered into a strategic partnership with HashKey Group, which will provide support for large-scale ETH transactions and explore the integration of crypto assets with real-world assets (RWA) [5][10] - The company has invested 149 million HKD to purchase 5,190 ETH and plans to continue increasing its holdings through a dollar-cost averaging strategy, with an approved budget of 880 million HKD [5][10] Group 2 - The "Active Coin Generation" feature is a key highlight of the company's Ethereum Vault strategy, allowing for the tokenization of innovative drug intellectual property (RWA) and trading on the ivd.xyz exchange [8][9] - The ivd.xyz exchange is the first Web3 exchange focused on medical innovation drug RWA, combining centralized and decentralized exchange features to support cross-chain trading [8][9] - The company's downward protection mechanisms include an ATM mechanism, a priority structure, RWA price buyback commitments, and a clinical VC safety net, providing comprehensive protection for investors [9] Group 3 - The Ethereum Vault strategy opens up a potential market capitalization growth space of over 100 billion HKD, drawing parallels with MicroStrategy's Bitcoin strategy, which saw an 80-fold increase in market value [10] - The company’s current market capitalization exceeds 13 billion HKD, indicating significant growth potential compared to MicroStrategy and Metaplanet [10] - The strategy aligns with the Hong Kong Monetary Authority's Ensemble project and China's innovation drug export strategy, aiming to lower financing costs and accelerate technology transfer [11]

Group 1 - The core strategy of the company is to launch a "Global Enhanced Ethereum Vault" with a downward protection mechanism, designating Ethereum (ETH) as a strategic reserve asset [2][6] - The company has entered into a strategic partnership with HashKey Group, which will provide support for large-scale ETH transactions, cost optimization, and liquidity in global markets [6][9] - The company has invested 149 million HKD to purchase 5,190 ETH and plans to continue increasing its holdings through a dollar-cost averaging strategy, with an approved budget of 880 million HKD [6][11] Group 2 - The "Active Coin Generation" feature is a key highlight of the company's Ethereum Vault strategy, allowing for the tokenization of innovative drug intellectual property (RWA) and trading on the ivd.xyz exchange [9][10] - The downward protection mechanism includes various strategies such as ATM mechanisms, priority structures, and price buyback commitments to ensure investor safety [10][11] - The company aims to replicate the success of MicroStrategy and Metaplanet by leveraging its Ethereum holdings to achieve significant market capitalization growth, with a target to exceed 100 billion HKD in two years [11][13] Group 3 - The company's Web3 exchange ecosystem and Ethereum Vault strategy create a new paradigm for financing, circulation, and revenue distribution in innovative drug development [13] - This approach aligns with the Hong Kong Monetary Authority's policy for efficient cross-border asset circulation and supports China's strategy for innovative drug commercialization [13] - The company aims to provide a compliant and transparent Web3 entry point for retail investors and patients, accelerating the availability of critical medications globally [13]

Core Viewpoint - The company has officially launched a strategic upgrade to create a "Global Enhanced Ethereum (ETH) Treasury" with a focus on medical innovation and asset tokenization [1][2]. Group 1: Strategic Overview - The company aims to integrate Ethereum (ETH) as a core reserve asset to enhance the efficiency of medical innovation drug development and asset allocation [3][7]. - The new "ivd.xyz" exchange will focus on high-tech assets in global medical innovation, facilitating the tokenization of real-world assets (RWA) [1][2]. Group 2: Mechanisms and Protection Strategies - The board has authorized the management to establish a "verifiable, executable, and quantifiable" seven-layer protection mechanism to safeguard shareholders and RWA holders [5]. - Additional strategies include a "three-layer enhancement engine" to transform ETH assets from passive holding to active income generation and reinvestment [5][6]. Group 3: Market Context and Trends - The strategic move aligns with global trends in cryptocurrency asset allocation, particularly among institutional investors, and responds to regulatory frameworks in regions like Hong Kong and the U.S. [4][6]. - The company has drawn insights from leading practices in the cryptocurrency asset reserve field, referencing successful models from various global firms [6][7].