Summary of Conference Call Records Industry or Company Involved - Focus on the impact of tariff negotiations on the market and various sectors including gold, rare earths, technology, and biopharmaceuticals Core Points and Arguments - **Tariff Negotiations**: The upcoming tariff negotiations are expected to increase market volatility from June 9 to June 20, with a low probability of reaching an agreement by July 8, indicating a prolonged struggle rather than a quick resolution [1][2] - **Gold as a Safe Haven**: Gold prices are anticipated to rebound after recent corrections, with projections suggesting prices could reach $10,000 per ounce in the next 3-5 years [1][3] - **Beneficial Sectors**: Sectors related to U.S.-China tensions, such as gold stocks, rare earths, and permanent magnet materials, are expected to perform well due to rising domestic prices and demand [1][4] - **Technology Sector Catalysts**: The U.S. restrictions on EDA software usage in China are accelerating domestic alternatives, benefiting companies like Huada Jiutian and highlighting the strategic value of industrial software firms [1][5] - **Chinese Innovative Pharmaceuticals**: The Chinese innovative drug sector is performing well, particularly in Hong Kong, driven by new product launches and overseas licensing agreements, alongside reduced costs from U.S. policy changes [1][6][7] - **Digital Currency in Cross-Border Payments**: Digital currencies are becoming crucial in cross-border payments, with China leveraging blockchain and Web 3.0 technologies to enhance settlement efficiency [1][8] - **Impact of U.S.-China Trade War**: The trade war has led to high inflation and economic slowdown in the U.S., while Chinese export-oriented companies are affected differently based on their overseas capacities [1][9] - **Global Negotiation Dynamics**: The U.S. is engaging in trade negotiations with other countries, which may create opportunities for sectors like gold and rare earths, while China’s slower negotiation pace could be advantageous [1][10][11] Other Important but Possibly Overlooked Content - **Financial Technology and Stablecoins**: The demand for stablecoins is rising, with licensed financial institutions likely to benefit from this trend, particularly in cross-border settlements [1][12] - **Investment Opportunities in Digital Currency**: Companies involved in the digital yuan and financial technology sectors, such as JD.com and Ant Group, are positioned as key suppliers in this evolving landscape [1][12][13] - **Market Performance and Future Volatility**: The capital market is currently in a volatile phase, with recommendations to focus on gold and sectors benefiting from U.S.-China tensions, as well as export-oriented companies with overseas production capabilities [1][14]

Summary of the Conference Call for 联易融科技 Company Overview - 联易融科技 is a leading supply chain financial technology solution provider in China, with a service asset scale of RMB 411.2 billion in 2024, representing a year-on-year growth of 28% and a market share of 21.1%, ranking first in the industry [2][3][5]. Financial Performance - Revenue for 2024 reached RMB 1.03 billion, up 19% year-on-year, with a gross margin increase to 70%, reflecting a 36% growth in gross profit, which outpaced the growth rates of scale and revenue [2][3]. - The company has a cash reserve of RMB 5.1 billion and a price-to-book ratio of only 0.3, indicating a high safety margin and significant undervaluation relative to its market value of over RMB 30 billion [3]. Business Segments - The company operates through three main business segments: Core Enterprise Cloud, Financial Institution Cloud, and Cross-border Cloud [2][7]. - **Core Enterprise Cloud**: Achieved a steady growth of 34%, with multi-level circulation business accounting for over 60%, growing by 52% year-on-year [2][7]. - **Financial Institution Cloud**: Expanded from payable ABS to receivable ABS, doubling transaction volume, with the WindLink AI agent product contributing over RMB 20 million in revenue [2][8]. - **International Business**: Collaborated with cross-border e-commerce platforms like Amazon and Shopee, establishing offices in the UK, India, the US, and Singapore, and forming a joint venture with Standard Chartered Bank [2][9]. Technological Innovations - The company has been deeply involved in blockchain technology, developing the underlying chain Be Trust and launching digital trade token platforms (DTT) and asset-backed tokenization platforms (ABT) to enhance global supply chain trade efficiency [4][12][14]. - The DTT platform allows conditional payments through smart contracts, while the ABT platform tokenizes real-world assets for investment [15][17]. Market Position and Strategy - The company plays a crucial role in connecting core enterprises, financial institutions, and small and micro enterprises, with a customer retention rate of 99% [5]. - Future strategies include deepening cooperation with digital banks and exploring digital token projects in the Web 3.0 space, while expanding international markets [10]. Regulatory and Market Outlook - The company is preparing to support various stablecoins, which are expected to play a significant role in trade finance, enhancing payment conditions and integrating with accounts receivable financing [23][27]. - The development of stablecoins is anticipated to create new service opportunities and enhance the efficiency of cross-border trade [24][25]. Key Partnerships and Projects - Significant collaborations include projects with Standard Chartered Bank and participation in initiatives like Project Dynamo and Project Guardian, focusing on asset tokenization and trade finance [13][21]. Conclusion - Overall, 联易融科技 is positioned strongly in the supply chain finance sector, with robust financial performance, innovative technology applications, and strategic international expansions, while also preparing for the evolving landscape of digital currencies and stablecoins [2][10][27].

Core Insights - Trident Digital Tech Holdings Ltd has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the SEC on April 28, 2025 [1] - The company is positioned as a leader in digital transformation, focusing on technology optimization services and Web 3.0 activation [2] Company Overview - Trident is based in Singapore and serves as a catalyst for digital transformation, offering digital optimization and technology services globally [2] - The company aims to enhance client experiences by promoting digital adoption and self-service solutions [2] Product Offering - Tridentity is the flagship product of the company, providing a secure blockchain-based identity solution for single sign-on authentication across various industries [3] - The product emphasizes security features to protect sensitive information and mitigate potential threats, contributing to a secure digital landscape [3] Strategic Mission - The company's mission extends beyond Tridentity, aspiring to become a global leader in Web 3.0 activation by connecting businesses to secure technological platforms [4] - Trident focuses on delivering tailored and optimized customer experiences [4]

Core Insights - Trident Digital Tech Holdings Ltd is advancing its public-private partnership with the Democratic Republic of Congo, focusing on digital identification technology to enhance governance and economic transformation [1][2][5] Group 1: Project Overview - The validation phase of the collaboration was initiated by DRC's Minister of Posts, Telecommunications, and Digital Technology, emphasizing the government's commitment to integrating the technology into public and private services [2] - The project aims to create over 30,000 direct and indirect jobs in various sectors, including digital technology and cybersecurity [3] - Trident's digital identity solution is expected to increase financial inclusion by 40%, allowing millions of unbanked citizens access to banking services [3] Group 2: Technological Impact - The initiative will leverage advanced technologies such as Web 3.0 blockchain, artificial intelligence, and biometrics to redefine trust in digital interactions [6] - Trident's flagship product, Tridentity, is a blockchain-based identity platform designed to enhance security and mitigate threats in digital transactions [8] Group 3: Economic and Social Benefits - The project is projected to reduce administrative delays by 50%, improving the efficiency of public services [3] - It aims to stimulate economic growth through enhanced cross-border trade and investment, alongside improved social protection via secure digital identification [3]

Core Viewpoint - In 2025, amidst rising global trade barriers and tariff disputes, Hong Kong's strategic position as an international free trade port and financial hub is increasingly highlighted, with Guofu Quantum (00290.HK) launching an art and collectibles auction business to create a new asset allocation channel for global investors that combines risk-hedging attributes and appreciation potential [1] Group 1: Business Development - Guofu Quantum's art and collectibles auction business aligns with the current global trade situation, capturing the opportunity for value reconstruction of non-physical assets [2] - The recent "Guofu Quantum Spring Auction" achieved a 100% transaction rate for 10 lots, showcasing the market's demand for scarce cultural assets and the company's operational capabilities leveraging Hong Kong's advantages [2] - The auction featured notable works such as "Andy Warhol Portrait" by Zeng Fanzhi and "Seated Bathing Woman" by Pierre-Auguste Renoir, indicating strong market interest in high-value art pieces [2] Group 2: Technological Integration - Guofu Quantum's strategic investment in the digital asset platform RTree Finance incorporates blockchain and Web 3.0 technologies into its auction business, enhancing the valuation process through AI dynamic pricing models [3] - The blockchain system provides permanent records of artworks, addressing authenticity issues in the art market, thus positioning Guofu Quantum to potentially disrupt leading auction houses in Asia [3] Group 3: Security and Compliance - The integration of quantum technology in the auction process aims to establish a robust security framework for asset transactions, addressing investor concerns regarding asset safety and compliance [4] - Future collaborations with quantum technology firms may introduce advanced encryption methods to protect ownership certificates and transaction records, enhancing the security of digital art transactions [4] Group 4: Future Prospects - If successful in implementing these technological integrations, Guofu Quantum could provide superior security for high-net-worth clients and become a core infrastructure for Hong Kong's international cultural relic trading center [5] - The company holds various licenses and qualifications, suggesting potential expansion into cross-border equity auctions and distressed asset disposals, tapping into trillion-dollar markets [6] - Guofu Quantum's art auction business represents a broader paradigm shift in the integration of capital, technology, and culture, potentially redefining Hong Kong's role in global trade dynamics [7]

Core Insights - SEALSQ Corp has entered into a strategic agreement to acquire a 30% equity stake in WeCanGroup SA, aiming to enhance blockchain-based security solutions in the Web 3.0 ecosystem, focusing on post-quantum cryptography and IoT security [1][2]. Group 1: Partnership Objectives - The collaboration seeks to accelerate the adoption of blockchain security solutions, particularly in the financial sector and IoT, addressing vulnerabilities posed by quantum computing [1][2]. - SEALSQ and WeCanGroup will integrate their technologies to develop advanced KYC, KYB, and KYO solutions, ensuring long-term cybersecurity resilience [2][3]. Group 2: Financial Sector Security - The financial sector's reliance on digital identity verification and secure transactions necessitates the adoption of quantum-resistant cryptographic solutions to maintain trust and compliance [3]. - WeCanGroup's blockchain-based compliance solutions will incorporate SEALSQ's post-quantum encryption to protect financial institutions from quantum-based cyber threats [3][4]. Group 3: IoT Security Enhancements - The partnership aims to protect IoT ecosystems from quantum-enabled attacks by embedding post-quantum cryptographic algorithms into SEALSQ's secure semiconductors [5]. - Quantum-safe identity management for IoT devices will be established, ensuring data integrity across various applications, including smart cities and healthcare IoT [5][6]. Group 4: Web 3.0 Innovations - The integration of SEALSQ's post-quantum secure semiconductors with WeCanGroup's blockchain solutions will enhance trust and security in Web 3.0 ecosystems [7]. - Innovations will include decentralized identity management and secure tokenization of financial assets, ensuring regulatory compliance against quantum threats [8].

As filed with the Securities and Exchange Commission on August 26, 2024. Registration No. 333-274857 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ––––––––––––––––––––– AMENDMENT NO. 9 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _____________________ Trident Digital Tech Holdings Ltd (Exact Name of Registrant as Specified in Its Charter) ––––––––––––––––––––– Not Applicable (Translation of Registrant's Name into English) _____________________ | Cayman Islands | 7389 | Not ...

As filed with the Securities and Exchange Commission on July 9, 2024. Registration No. 333-274857 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ––––––––––––––––––––– AMENDMENT NO. 8 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _____________________ Trident Digital Tech Holdings Ltd (Exact Name of Registrant as Specified in Its Charter) ––––––––––––––––––––– Not Applicable (Translation of Registrant's Name into English) _____________________ | Cayman Islands | 7389 | Not Ap ...

As filed with the Securities and Exchange Commission on April 19, 2024. Registration No. 333-274857 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ––––––––––––––––––––– AMENDMENT NO. 7 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _____________________ Trident Digital Tech Holdings Ltd (Exact Name of Registrant as Specified in Its Charter) ––––––––––––––––––––– Not Applicable (Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service) ...

As filed with the Securities and Exchange Commission on March 18, 2024. Registration No. 333-274857 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ––––––––––––––––––––– AMENDMENT NO. 6 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _____________________ Trident Digital Tech Holdings Ltd (Exact Name of Registrant as Specified in Its Charter) ––––––––––––––––––––– Not Applicable (Translation of Registrant's Name into English) _____________________ | Cayman Islands 7389 | | Not ...