【私募调研记录】复胜资产调研天阳科技

Group 1 - The core viewpoint of the article highlights that Tianyang Technology is positioning its U-Card platform as a comprehensive end-to-end digital currency service platform, covering the entire process from virtual currency introduction to lifecycle management [1] - The U-Card business focuses on corporate procurement card categories, with a subscription-based fee model that includes a minimum transaction volume and additional fees for excess usage [1] - The U-Card has clear cooperation opportunities in the circulation phase, particularly with institutions like JD.com and Ant Group participating in the Hong Kong dollar stablecoin pilot [1] Group 2 - The RW business operates in a highly regulated environment, and the company has completed its technical preparations, awaiting market breakthrough opportunities [1] - The core customer regions for the U-Card business are Southeast Asia, Central Asia, and Africa, where there is a strong foundational customer base for stablecoin holders [1]