Core Insights - Figure Technology confirmed a customer data breach due to a social engineering attack targeting an employee, with the hacking group ShinyHunters claiming responsibility and publishing 2.5 gigabytes of stolen data [1][2] Company Overview - Founded in 2018, Figure is a New York-based lender that operates its loan platform on the Provenance blockchain, focusing on home equity lines of credit [4] - The company went public in September 2025, raising $787.5 million in an IPO that valued it at approximately $5.3 billion [4] Incident Details - The breach involved an employee being manipulated into downloading files, which included sensitive customer information such as full names, home addresses, dates of birth, and phone numbers [1][2] - Figure stated that it acted quickly to block the activity and engaged a forensic firm to investigate the affected files [2] Industry Context - A report by Chainalysis indicated that over $17 billion in cryptocurrency was stolen in 2025 through AI-powered impersonation scams, highlighting the growing threat of such attacks [3] - Data breaches were prevalent in 2025, with over 8,000 notification filings related to more than 4,000 incidents affecting at least 374 million individuals [3] Response and Future Actions - Figure is communicating with partners and impacted parties while implementing additional safeguards, including offering complimentary credit monitoring to affected individuals [5] - The company announced a proposed secondary public offering of up to 4,230,000 shares of its Series A Blockchain Common Stock and plans to repurchase up to $30 million of Class A shares from underwriters [5] Stock Performance - Following the breach announcement, Figure's stock rose by 3.57% to a price of $35.29, although it has experienced a 37% decline over the past month [6]

RT MSB Intel (@MSBIntel)🚨 JUST IN: CRYPTO LENDER 'FIGURE' HIT BY DATA BREACH. NAMES, ADDRESSES & PHONE NUMBERS EXPOSED.SOURCE: TECHCRUNCH https://t.co/YOJfVbkmAv ...

Fintech lending giant Figure confirms data breach https://t.co/uMz5KYQlF4 ...

Figure shares rise as early Q4 results top expectations alongside secondary stock sale https://t.co/PGDiVbYfZ5 ...

Group 1 - The core viewpoint is that the robotics industry, particularly embodied intelligence, is primarily driven by AI, with potential for significant growth in the coming years, possibly exceeding the hype of mobile internet by 100 to 1000 times [1] - The year 2026 is identified as a critical milestone for humanoid robots, with expectations for mass production and supply chain developments, leading to a substantial increase in output from thousands to tens of thousands of units [1] - Major companies are expected to converge in terms of supply chain and technology, indicating a global "arms race" in robotics, with advancements in electric drive technologies and new materials [1] Group 2 - As of February 13, 2026, the Guozheng Robotics Industry Index (980022) has risen by 0.52%, with notable increases in stocks such as Dingzhi Technology and Kelaimechatronics [2] - The top ten weighted stocks in the Guozheng Robotics Industry Index account for 39.43% of the index, highlighting key players in the robotics sector [2] - The Penghua Robotics ETF (159278) closely tracks the Guozheng Robotics Industry Index, reflecting the price changes of related listed companies [2]

Financial Data and Key Metrics Changes - Revenue in Q1 fiscal 2026 increased more than four times to $21.4 million compared to $4.6 million in Q1 fiscal 2025 [16] - Gross margin increased significantly to 78.6% in Q1 fiscal 2026 from 24.5% in Q1 fiscal 2025, primarily driven by staking revenue from the Solana treasury strategy [16] - Net loss for Q1 fiscal 2026 was approximately $585.6 million, compared to a net loss of $0.7 million in Q1 fiscal 2025, largely due to a decline in the fair value of SOL holdings [18] Business Line Data and Key Metrics Changes - Forward held approximately 6,962,501 Solana as of December 31, 2025, with over 99% staked, generating a staking yield between 6.5% and 7.2% [13] - Fully diluted SOL per share increased from 0.0604 at the end of September 2025 to 0.0624 at the end of December 2025, representing a growth of roughly 13% in the fiscal first quarter [14] Market Data and Key Metrics Changes - Solana continues to lead in key metrics such as decentralized exchange trading volumes, active users, and developer engagement, demonstrating resilience and performance [6][7] - Institutional engagement has expanded significantly, with major financial institutions and payment platforms integrating with Solana [7] Company Strategy and Development Direction - The company aims to build a permanent capital vehicle that participates directly in the growth of the Solana ecosystem, evolving beyond a treasury into an active value-generating business [5] - Forward Industries is focused on compounding SOL per share by engaging directly in economic activities on-chain rather than relying solely on passive exposure [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the volatility in the market but emphasizes that Solana is now being evaluated based on actual performance rather than theoretical scalability [6] - The company believes the opportunity in front of Solana is increasingly clear, with a focus on long-term growth and responsible risk management [5][6] Other Important Information - Forward became one of the first public companies to have its SEC-registered shares live on a public blockchain, enhancing its operational capabilities [8] - The company launched fwdSOL, a proprietary liquid staking token, representing approximately 25% of its SOL holdings, allowing for efficient deployment of staked SOL [9] Q&A Session Summary Question: How does the company view recent token price volatility? - Management noted that SOL is down approximately 70% from its all-time high, which is typical in the crypto market, and emphasized maintaining a clean balance sheet [19][20] Question: What is the company's approach to potential M&A? - The company is looking for accretive acquisitions and is well-positioned to capitalize on opportunities due to its lack of institutional debt [23][24] Question: How should shareholders view SOL per share as a performance metric? - SOL per share growth is considered the North Star KPI, with a target to consistently generate returns greater than the staking yield [24] Question: What is the expected trend for staking yields as Solana network usage grows? - Management clarified that increased validator participation does not impact yields for stakers, and they expect yields to increase with network activity [43][44] Question: Can you clarify the nature of related party G&A expenses? - Related party expenses are associated with the launch of the digital asset treasury strategy and are expected to decrease in the coming months [50]

Financial Data and Key Metrics Changes - Revenue in Q1 2026 increased more than four times to $21.4 million, compared to $4.6 million in Q1 2025 [16] - Gross margin increased significantly to 78.6% in Q1 2026, compared to 24.5% in Q1 2025 [16] - Net loss for Q1 2026 was approximately $585.6 million, compared to a net loss of $0.7 million in Q1 2025, primarily due to a loss on digital assets [18] Business Line Data and Key Metrics Changes - Forward held approximately 6,962,501 Solana, with more than 99% staked, generating a staking yield between approximately 6.5% and 7.2% [12] - Fully diluted SOL per share increased from 0.0604 at the end of September 2025 to 0.0624 at the end of December 2025, representing a growth of roughly 13% [13][14] Market Data and Key Metrics Changes - Solana continues to lead across key metrics, including decentralized exchange trading volumes, active users, and developer engagement [6] - Institutional engagement has expanded significantly, with major asset managers like WisdomTree launching tokenized funds on Solana [7] Company Strategy and Development Direction - The company aims to build a permanent capital vehicle that participates directly in the growth of the Solana ecosystem, evolving beyond a treasury into an active value-generating business [5] - Forward Industries is focused on compounding SOL per share by participating directly in economic activities occurring on-chain [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the volatility in the market but emphasizes the importance of Solana's current performance and real-world applications [6] - The company believes that the opportunity in front of Solana is increasingly clear, with a focus on long-term growth [5] Other Important Information - Forward became one of the first public companies to have its SEC-registered shares live on a public blockchain, with FWDI now issued on Solana [8] - The company launched fwdSOL, a proprietary liquid staking token, representing approximately 25% of its SOL holdings [9] Q&A Session Summary Question: Thoughts on recent token price volatility - Management noted that SOL is down approximately 70% from its all-time high, which is typical in the crypto market, and emphasized maintaining a clean balance sheet [19][20] Question: Potential M&A framework - The company is looking for accretive businesses in both DAT and non-DAT M&A, with a focus on product market fit and scalable unit economics [23] Question: Importance of SOL per share as a KPI - SOL per share growth is considered the North Star KPI, with a target to consistently generate returns greater than the staking yield [24] Question: Capital allocation strategy in different market conditions - The company plans to be adaptive, focusing on balance sheet quality and potential M&A opportunities when trading at discounts [40][41] Question: Staking yields and network usage growth - Management clarified that increased validator participation does not impact staking yields, and they expect yields to increase as network activity grows [44][46] Question: Related party G&A expenses - Related party expenses are associated with the launch of the digital asset treasury strategy and are expected to decrease in the coming months [50]

截至2026年2月12日10:50，机器人ETF(159770)成交8966.40万元。跟踪的中证机器人指数(H30590)上涨0.48%，成分股博杰股份上涨10.00%，华东数控上 涨9.97%，瀚川智能上涨4.87%，瑞松科技上涨4.07%，天智航上涨3.95%。 【产品亮点】 机器人ETF(159770)紧密跟踪中证机器人指数，为投资者提供一键布局机器人全产业链的高效工具。 【相关产品】 机器人ETF(159770)，对应场外联接基金(A：014880；C：014881)。 【热点事件】 具身智能迎上市潮！多家企业推进A+H股IPO进程 截至2月10日，已有3家具身智能企业已推进A股上市流程。宇树科技已于去年11月份完成IPO辅导备案，乐聚智能、杭州云深处的IPO辅导备案分别于去 年10月份、12月份被地方证监局受理。赴港上市同样热闹非凡，截至2月10日，深圳市优必选、卧安机器人已经登陆港股，天津阿童木机器人、浙江迦 智科技、斯坦德机器人、珞石机器人、合肥优艾智合机器人等多家具身智能企业已向港交所提交IPO申请。 值得一提的是，机器人ETF(159770)盘中净申购已达1050万份。 | | 机器人ET ...

🚨 BREAKING: PROVENANCE BLOCKCHAIN TVL HITS $1.2B ALL-TIME HIGH@Figure (Nasdaq: $FIGR), the largest non-bank HELOC lender in the U.S., drives a large percentage of TVL on @provenancefdn through $20B+ in tokenized home equity loans settled on-chain.Figure settles ~$600M in loans monthly on the blockchain and recently achieved the first AAA-rated blockchain securitization from S&P and Moody's. ...

Core Insights - The tokenization of real-world assets (RWA) is emerging as a significant focus for the crypto sector, particularly in attracting institutional interest, despite challenges in liquidity and market depth [3][5][6] Group 1: Tokenization and Market Dynamics - Tokenization aims to enhance trading by making it continuous, with instantaneous settlement and programmable ownership, as demonstrated by blockchain-based lender Figure's expansion of its On-Chain Public Equity Network [3] - The New York Stock Exchange (NYSE) is developing a platform for trading and on-chain settlement of tokenized securities, seeking regulatory approvals to facilitate this [4] - Despite technological advancements, liquidity for most tokenized RWAs remains limited, with thin trading volumes and wide bid-ask spreads, making them behave more like private instruments than tradable securities [5][6][11] Group 2: Liquidity Challenges - Liquidity in finance is defined as the ability to exit a position at fair value without significantly impacting the market, which is not guaranteed in tokenized RWA markets [7] - Many tokenized RWAs exist in fragmented markets with limited active participants, leading to fragile price discovery and theoretical liquidity [9][11] - Current adoption levels of tokenized RWAs are low, with total outstanding value insufficient to support robust secondary trading, which affects market maker participation and spreads [11][12] Group 3: Legal and Structural Considerations - The scalability of tokenized RWAs is not constrained by technology but rather by legal certainty, standardized rights, and a diverse participant base [12] - Many tokenized RWAs do not provide direct, enforceable claims on underlying assets, resembling private placements more than public instruments, which raises concerns for CFOs and treasury teams [13] - The evolving regulatory landscape is seen as a catalyst for blockchain adoption, with ongoing challenges complicating progress in the tokenization of real-world assets [14]