Core Viewpoint - The digital renminbi is transitioning from a "digital cash" phase to a "digital deposit currency" phase, with significant upgrades in its management and operational framework as outlined in the recent action plan by the central bank [1][2]. Group 1: Transition to Digital Deposit Currency - The digital renminbi was initially designed as M0 digital cash, focusing on payment functions without interest payments, which limited user motivation for long-term holding [2]. - The introduction of an interest payment mechanism for digital renminbi wallets allows these assets to be included in commercial banks' balance sheets, aligning banks' responsibilities with potential revenue generation [2][3]. - The digital renminbi's wallet balance will now be treated similarly to traditional bank deposits, providing the same level of safety and regulatory compliance [3]. Group 2: Operational Enhancements and User Engagement - The digital renminbi app has undergone 54 iterations since its launch in January 2022, with the latest version 2.0 released on January 2, 2026 [1]. - As of November 2025, the digital renminbi has processed 3.48 billion transactions, amounting to 16.7 trillion yuan, indicating significant user engagement and transaction volume [3]. - The app will now calculate interest on wallet balances based on the prevailing interest rates, with quarterly interest payments scheduled for March 20, June 20, September 20, and December 20 [4][5]. Group 3: Technological and Regulatory Framework - The digital renminbi employs blockchain and distributed ledger technology while maintaining key regulatory features such as traceability and compliance with anti-money laundering laws [3][6]. - The action plan allows banks to manage digital renminbi wallet balances as part of their asset-liability operations, enhancing the overall financial ecosystem [4]. - The central bank is actively promoting the use of digital renminbi in various sectors, including retail, transportation, and government services, to broaden its application [5][6].

2026年1月5日，中科江南披露接待调研公告，公司于1月4日接待淡水泉、东方证券、华泰证券、中金公 司、华创证券、国泰海通等26家机构调研。 调研情况显示，近期中国人民银行出台《关于进一步加强数字人民币管理服务体系和相关金融基础设施 建设的行动方案》，其明确的"账户体系＋币串＋智能合约"数字化方案大幅提升了数字人民币在广域政 府资金使用场景的应用空间，为财政、行政、社保、医保等政府性资金管理领域的资金流转、使用和监 管指明发展方向。以财政资金为代表的政府性资金在公用事业、医保社保等闭环领域具备低成本、高效 能运用前景，中科江南自2022年起与多家银行合作开展智能合约技术预研和场景测试，率先验证财政资 金全流程闭环管理模式，已在江苏、山东、河北等地财政场景成功试点落地。 中科江南在分布式账本和区块链领域拥有成熟技术储备与实践经验，其打造的"电子凭证库"可保证智能 合约规则在财政、行政事业单位与银行间精准落地，解决单据电子化及信息流、资金流、凭证流四流合 一问题，叠加数字人民币智能合约能力能实现全流程可追溯和穿透式监管，提升财政资金管理效率和安 全性。例如在惠农补贴场景中，结合伞列钱包体系与电子凭证库优势解决传统 ...

Market Overview - The cryptocurrency market experienced a significant rebound, with gold prices driving the momentum. However, the sustainability of this rally remains uncertain, and investors are advised to avoid chasing prices and instead look for opportunities to buy on dips [1] - In the past 24 hours, a total of 97,200 traders were liquidated, resulting in a total liquidation amount of $263 million, with long positions accounting for $65.1 million and short positions for $198 million [1] Bitcoin Analysis - Bitcoin faced resistance at the $93,200-$93,400 range, and the next critical support levels to watch are $91,500-$91,700. If this support fails, the bullish structure may be compromised, with further support at $89,800 and $88,700 [3] - If the $91,500 support holds, the next significant resistance level is at $95,800 [3] Ethereum Analysis - Ethereum's resistance at $3,190 showed some reaction, with a focus on the $3,152 level. As long as this level holds, the bullish trend remains intact, with upward targets at $3,210-$3,251-$3,283 [5] - A drop below $3,152 could initiate a short-term correction, with support levels at $3,116, $3,080, and $3,045 [5] Altcoin Insights - For those still holding cash, mainstream altcoins present a relatively stable opportunity for a rebound, although the recent price increases have not been substantial [6] - XRP has seen strong inflows from ETF funds, with institutional interest surpassing that of SOL. The price has found support at the $1.80 level, with potential for a rebound towards $2.40 [7] - Litecoin is expected to have limited upside, with a potential rebound target around $100 [9] - UNI has recently passed a proposal for token burns, leading to a price increase, but is currently in a consolidation phase, with a target of around $7 [11] - LINK is experiencing accumulation by institutions, with a rebound target of $15 and an extreme target of $17, supported by its role as a leading oracle in the blockchain space [13] Upcoming Developments - Key developments for various altcoins in Q1 2026 include: - SOL launching a mobile ecosystem token and a major upgrade called Alpenglow [19] - BNB implementing a hard fork and releasing a performance roadmap [19] - LINK collaborating with DTCC to advance tokenization services [21] - INJ launching its native EVM mainnet to support ecosystem expansion [22] - DOT restoring native smart contract functionality and initiating a deflationary issuance model [22] - Several projects, including TAO, ZEC, SUI, NEAR, STRK, and AAVE, are in the process of applying for strategy ETFs, indicating ongoing compliance efforts [22]

| 进行了解读和展望。 | | --- | | 1、政策解读 | | 《行动方案》明确提出的"账户体系+币串+智能合约"的 | | 数字化方案，大幅提升了在广域政府资金使用场景中的数字人 | | 民币应用空间，为数字人民币在财政、行政、社保、医保等政 | | 府性资金管理领域的资金流转、使用和监管指明了发展方向， | | 带来了新的业务机遇。 | | 以财政资金为代表的政府性资金是充分利用数字人民币 | | 特有的监管穿透性和多级资金管理能力的最佳使用范畴之一， | | 在公用事业、医保社保、国库资金运营等闭环领域具备低成本、 | | 高效能的广阔运用前景。 | | 自 2022 年起，公司便与多家银行就基于数字人民币在不 | | 同财政资金使用的业务场景共同开展了智能合约技术预研和 | | 场景测试，率先验证了基于数字人民币智能合约的财政资金全 | | 流程闭环管理模式，逐步形成系统性解决方案，并先后在江苏、 | 山东、河北、福建、海南等多地财政场景成功试点落地。 2、业务展望 证券代码：301153 证券简称：中科江南 北京中科江南信息技术股份有限公司 投资者关系活动记录表 编号：2026-01 | | ...

Core Viewpoint - The event "Cryptocurrency Knowledge Promotion (Hong Kong and Macau)" aims to enhance public understanding of blockchain and cryptocurrency, facilitating the integration of digital economy and innovative finance [1][2]. Group 1: Event Background - In the digital economy era, cryptocurrencies are not just emerging asset forms but also key drivers of fintech transformation, with increasing mainstream acceptance [2]. - Systematic knowledge dissemination and value guidance are essential to help users develop rational understanding and avoid blind speculation in this emerging field [2]. Group 2: Event Objectives - Knowledge Dissemination: The event will utilize expert lectures, salon discussions, and interactive Q&A to educate the public on blockchain fundamentals, cryptocurrency mechanisms, and global market trends [3]. - Risk Education: The initiative promotes legal and compliant investment principles, educating the public on fraud prevention, fund security management, and market volatility risks to enhance risk recognition capabilities [3]. - Innovation Inspiration: The event will explore how emerging technologies like Web3.0, DeFi, and AI quantitative trading can help individuals and businesses seize future opportunities [3]. Group 3: Event Highlights - The event features participation from industry experts, academic representatives, and senior executives from digital asset institutions, providing diverse insights into the trends and challenges of the crypto economy [4]. - An open forum will be held to interpret global regulatory trends and the path to cryptocurrency legalization [5]. - Practical teaching will include real trading case studies to explain how to identify quality projects and understand quantitative trading principles [6]. - Interactive salons will allow attendees to engage directly with experts, breaking down information barriers and deepening understanding [7]. Group 4: Company Mission and Responsibility - As a leading global digital fintech company, the organization adheres to the philosophy of "co-creating an intelligent future and winning in the value era," aiming to help more people understand finance through technology and connect wealth through knowledge [8]. - The Hong Kong and Macau event is not only a knowledge dissemination journey but also a significant step in fulfilling corporate social responsibility [8]. - Future plans include expanding the "Cryptocurrency Knowledge Promotion Global Tour" to Southeast Asia and Europe, creating an international and systematic digital finance education ecosystem [8]. Group 5: Future Outlook - The cryptocurrency wave is reshaping the global economic landscape, where rationality and knowledge are the true powers to navigate through cycles [9]. - The organization aims to convey that technology is not a speculative tool but a bridge to the future, emphasizing that knowledge empowerment and cognitive upgrades are essential for meaningful investments and valuable efforts in the crypto era [9].

天眼查显示，近日，深圳时光纪数字科技有限公司成立，法定代表人为刘云长，注册资本600万人民 币，由中梦百年（深圳）投资运营有限公司全资持股。 序号股东名称持股比例1中梦百年（深圳）投资运营有限公司100% 经营范围含一般经营项目是：数字文化创意软件开发；咨询策划服务；物联网技术研发；物联网技术服 务；智能家庭消费设备销售；区块链技术相关软件和服务；数字技术服务；人工智能应用软件开发；数 据处理和存储支持服务；互联网数据服务；自动售货机销售；组织文化艺术交流活动；园区管理服务； 游览景区管理；体验式拓展活动及策划；非居住房地产租赁；网络与信息安全软件开发；数字文化创意 内容应用服务；数字内容制作服务（不含出版发行）；专业设计服务；信息技术咨询服务；信息咨询服 务（不含许可类信息咨询服务）；信息系统集成服务；技术服务、技术开发、技术咨询、技术交流、技 术转让、技术推广；互联网销售（除销售需要许可的商品）；企业管理；物业管理；酒店管理；礼品花 卉销售；工艺美术品及礼仪用品销售（象牙及其制品除外）；日用百货销售；电子产品销售；供应链管 理服务；物联网应用服务。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动） ...

2026年1月3日，本应是普通的一个交易日，却成为了加密货币投资者难以忘怀的噩梦。当天下午，比特币价格突然大幅跳水，一度跌破90000美元关键心理 关口。 在这场突如其来的暴跌中，一位名叫张强的杠杆交易员讲述了他的经历："我刚吃晚饭时还看到比特币站上了90500美元，想着这次能赚不少。没想到一小时 后查看账户，却发现已经被强制平仓，所有保证金灰飞烟灭。" 这样的故事在1月3日不断重演。根据Coinglass数据，过去24小时全球共有超11万投资者遭遇爆仓，无数张强的财富梦想在这一夜之间破灭。 2026年1月3日，加密货币市场经历了极不寻常的一天。比特币价格在当天上午一度拉升，成功站上90500美元的高位，给投资者带来无限遐想。 然而好景不长，下午市场风云突变，比特币价格突然跳水，迅速跌破90000美元大关。这种剧烈波动并非孤立现象，以太坊同日重回3000美元，涨幅超过 2%，XRP涨幅超过6%，狗狗币涨幅更是超过9%。 市场波动性大幅增加，截至当晚22：50，比特币再次站上90000美元大关，但这一回升对于已经被爆仓的投资者来说毫无意义。 这种剧烈波动在加密货币市场并非首次。2025年10月10日，加密货币市 ...

Core Viewpoint - The digital renminbi is transitioning from the 1.0 era of digital cash to the 2.0 era of digital deposit currency, with a new management and service framework set to be implemented by January 1, 2026 [1] Group 1: Digital Currency Development - China is a pioneer in digital currency exploration, having initiated theoretical research and closed testing of the digital renminbi in 2014, with pilot programs starting in 2019 [3] - The digital renminbi ecosystem has been preliminarily established, following a path that relies on central bank leadership and integration with commercial financial institutions [3] - The digital renminbi 2.0 will be a modern digital payment and circulation method, issued and circulated within the financial system, featuring functions such as value measurement, value storage, and cross-border payment [3][4] Group 2: Operational Framework - The transition to digital renminbi 2.0 retains the successful core elements of the previous phase, particularly the dual-layer operational structure that separates management and operation [4] - The People's Bank of China will establish a digital renminbi management committee to oversee relevant business lines and ensure comprehensive functional regulation [5] - The operational management centers for digital renminbi will be located in Beijing and Shanghai, focusing on system security and cross-border business operations [5] Group 3: Technological Integration - Digital renminbi 2.0 will combine account-based management with blockchain efficiency, utilizing a hybrid architecture that incorporates both account and blockchain characteristics [6] - The digital renminbi will leverage smart contracts and digital technologies to enhance payment services, moving from electronic to digital payment [8][10] - Blockchain technology will be applied not only in cross-border payments but also in the digitalization of real-world assets, with platforms established for various financial services [11] Group 4: Changes in Currency Structure - The digital renminbi will shift from being a central bank liability to a digital deposit currency, allowing banks to manage digital renminbi wallet balances as part of their asset-liability operations [8] - Digital renminbi wallet balances will earn interest and be included in the banks' balance sheets, enhancing the stability of commercial banks' liabilities [8][9] - The digital renminbi will maintain its equivalence to fiat currency, ensuring interoperability and convenience for users [9]

Core Insights - The hotel RWA (Real World Assets) model represents an innovative approach that combines blockchain technology with the digital economy, allowing hotel assets to be tokenized and traded as security tokens, thus facilitating digitalization, liquidity, and global asset allocation [1][3]. Group 1: Core Logic of Hotel RWA Model - Traditional hotels are capital-intensive, with core assets including property rights, facilities, brand value, and stable cash flows from various revenue streams [3]. - The RWA model enables the tokenization of these assets, allowing investors to indirectly hold shares in hotel assets through the purchase of standardized digital tokens, which entitle them to profit-sharing and potential capital gains [3][5]. Group 2: New Opportunities for Traditional Hotel Transformation - The RWA model addresses several pain points in the traditional hotel industry, such as high capital investment, limited financing channels, poor asset liquidity, and weak digital capabilities [5]. - It facilitates a shift towards asset-light operations by allowing hotels to tokenize part of their assets, thereby releasing liquidity and reducing capital requirements [6]. - The model promotes digital upgrades through blockchain's smart contract capabilities, enhancing operational efficiency and cost reduction [6]. - Token trading on blockchain networks allows hotels to reach a global customer base, attracting small investors and high-net-worth individuals [6]. Group 3: New Entrepreneurial Opportunities - The implementation of the hotel RWA model creates new business avenues for entrepreneurs, including RWA technology service providers that offer asset tokenization solutions [8]. - Vertical platforms focusing on hotel asset tokenization and trading can emerge, providing more flexibility than traditional real estate investment trusts (REITs) [10]. - Innovative product offerings such as fractional ownership and time-sharing rights can be developed, allowing tourists to invest in hotel revenue streams [10]. - Compliance and consulting services are needed due to the regulatory aspects of RWA, creating demand for professionals with expertise in law, finance, and blockchain [10]. Group 4: New Financing Channels - The RWA model opens up low-cost, efficient, and widely accessible financing channels for traditional hotels [13]. - Tokenization lowers financing thresholds by allowing large assets to be divided into smaller shares, attracting a broader range of investors [13]. - The model shortens financing cycles through automated processes, significantly reducing time costs compared to traditional methods [13]. - Global fundraising is facilitated by the open nature of blockchain networks, enabling hotels to attract investors from around the world [13]. - The dynamic valuation and liquidity of tokens allow real-time reflection of hotel asset values, addressing traditional real estate valuation and liquidity challenges [13]. Conclusion - The hotel RWA model represents a dual innovation of asset financialization and digitalization, revitalizing traditional hotel operations and enhancing financing flexibility [18]. - It serves as a critical lever for traditional hotels transitioning from heavy asset operations to a model that combines light assets with capital operations [18]. - For entrepreneurs, it presents a new avenue for integrating digital economy with traditional industries [18]. - For investors, it offers a new tool for participating in the growth of the hotel industry [18].

从稳定币枢纽到DeFi生态矩阵 波场TRON的生态版图正从单一稳定币枢纽向多元化金融基础设施演进。孙宇晨持续推动协议迭代与生 态合作,构建起涵盖支付、跨链及合规化服务的完整生态闭环。在DeFi领域,JustLend与SunSwap等头部协 议凭借波场TRON的低成本优势,TVL突破75亿美元,成为全球DeFi生态的重要一极。此外,波场TRON与 Chainlink的深度集成提升了链上智能合约的安全性,而与MetaMask、PayPal USD等机构的合作,则打通了 传统金融与加密生态的桥梁。值得关注的是,波场TRON推出的原生稳定币USDD,通过去中心化治理与零 Gas费转账机制,市值已突破4亿美元,持币账户数激增25%以上,进一步巩固了其在稳定币市场的多元化布 局。 近日,知名区块链研究机构Messari发布的《2026年加密趋势报告》中,波场TRON被列为年度核心观察对 象,报告高度认可其在稳定币领域的绝对领导地位,并指出其在网络运营效率、生态创新及全球应用渗透 率等多维度实现历史性突破。作为波场TRON的创始人,孙宇晨以远见卓识的战略部署,正推动这一区块 链基础设施迈向数字经济的关键支柱。 网络价值与市 ...