Group 1 - Jieli Trading Treasure (08017) and Boleton (01333) experienced significant early gains, with Jieli Trading Treasure rising by 4.69% to HKD 2.01 and Boleton increasing by 5.85% to HKD 46.7 [1] - Jieli Trading Treasure announced a strategic cooperation with Boleton and Golden Continent Holdings Limited (GCH) to globally issue Real World Assets (RWA) [1] - The three parties plan to sign a Strategic Cooperation Agreement soon, focusing on three core collaborations: tokenization of RWA, building a compliant Web3 payment system, and facilitating the issuance and circulation of digital assets under Hong Kong's framework [1] Group 2 - The first core collaboration involves the tokenization of Boleton's new energy equipment operating income rights and green carbon reduction assets, creating auditable on-chain financial products [1] - The second collaboration aims to integrate a compliant Web3 payment system within Boleton's business ecosystem to enhance payment settlement efficiency [1] - The third collaboration will see GCH's licensed company responsible for the compliant issuance of tokenized assets, while TGM will handle product underwriting and subscription arrangements, establishing a complete link for asset tokenization and trading [1]

Core Viewpoint - Yunfeng Financial (00376) reported a significant increase in net profit for the first half of 2025, leading to a stock price increase of over 7% following the announcement [1] Financial Performance - The estimated net profit attributable to equity shareholders for the first half of 2025 is approximately HKD 480 million, representing a substantial year-on-year increase of about 139% [1] Business Segments - The increase in net profit is primarily attributed to significant growth in the operating profit of the group's insurance business, as well as positive changes in investment fair value and exchange rates [1] Strategic Initiatives - The company plans to strategically expand into Web3, real-world assets (RWA), digital currencies, ESG zero-carbon assets, and artificial intelligence, building on its existing insurance and fintech businesses [1] - There will be a focus on exploring ESG zero-carbon assets in the Guangdong-Hong Kong-Macao Greater Bay Area and increasing investments in stablecoins and other digital currencies [1]

Core Viewpoint - Yunfeng Financial (00376) reported a significant increase in net profit for the first half of 2025, leading to a stock price increase of over 7% following the announcement [1] Financial Performance - The estimated net profit attributable to equity shareholders for the first half of 2025 is approximately HKD 480 million, representing a substantial year-on-year increase of about 139% [1] Business Segments - The increase in net profit is primarily attributed to significant growth in the operating profit of the group's insurance business, as well as positive changes in investment fair value and exchange rates [1] Strategic Initiatives - The company plans to strategically expand into Web 3, Real World Assets (RWA), digital currencies, ESG zero-carbon assets, and artificial intelligence, building on its existing insurance and fintech businesses [1] - Additionally, Yunfeng Financial aims to explore the ESG zero-carbon asset sector in the Guangdong-Hong Kong-Macao Greater Bay Area and increase investments in stablecoins and other digital currencies [1]

Group 1 - Yuxin Technology has initiated systematic layouts in stablecoin issuance, payment, and financial innovation, aiming to support the development of new asset and circulation ends through technology and solution outputs [1] - The recent investor relations activities highlight the alignment of stablecoin business with Yuxin Technology's global strategy, reflecting the acceleration of financial technology companies' participation in the stablecoin ecosystem [1][2] - The Chinese government has released clear signals for stablecoin development, emphasizing innovation and research in digital currencies, which aligns with Yuxin Technology's strategic direction [2] Group 2 - Hong Kong is actively advancing its stablecoin framework, with the "Stablecoin Ordinance" set to take effect on August 1, 2023, and the launch of a "stablecoin issuer sandbox" by the Hong Kong Monetary Authority [3] - Yuxin Technology aims to create innovative business models, particularly in overseas markets, by implementing a diversified product portfolio and a comprehensive service model that integrates operations and products [4] - The company plans to leverage its extensive experience serving over 1,000 financial institutions to address the technical and business challenges of connecting the banking system with the stablecoin system [4] Group 3 - Yuxin Technology's strategy is closely aligned with current market opportunities, particularly in the tokenization of bonds and real-world assets (RWA), leveraging its strengths in credit services [5] - The company has established a mature ecosystem operation capability, helping financial institutions expand their business scale through technology empowerment [6] - The stablecoin industry is expected to bring benefits to financial IT and companies with stable asset holdings, with Yuxin Technology positioned to benefit from this trend [6] Group 4 - The rise of stablecoins reflects a global demand for efficiency and trust in the financial system, with Yuxin Technology's efforts representing a shift of Chinese financial IT capabilities to new markets [7] - The development of stablecoins presents new opportunities for the financial industry, requiring collaborative efforts from industry participants to foster a healthy ecosystem [7] - Stablecoins are seen as a core bridge connecting traditional finance and the crypto world, with the potential to enhance cross-border payment efficiency and reshape the international monetary landscape [8]

Core Viewpoint - The Hong Kong Special Administrative Region government has released the "Hong Kong Digital Asset Development Policy Declaration 2.0," aiming to establish Hong Kong as a global innovation center in the digital asset sector, with a focus on stablecoins and tokenized real-world assets (RWA) as core pillars of the policy [1][2][4] Group 1: Policy Upgrades - The new declaration represents a systematic upgrade from the 2022 version, transitioning from a "testing ground" for digital assets to a more institutionalized, scaled, and global approach [1] - The declaration is structured around the "LEAP" strategy, focusing on compliance regulation, asset tokenization, scenario expansion, and talent development [1] Group 2: Terminology Shift - A significant change in terminology from "virtual assets" to "digital assets" reflects a broader regulatory perspective and a shift in focus, encompassing cryptocurrencies, stablecoins, and various forms of tokenized real assets [2] Group 3: Stablecoin Regulation - The declaration emphasizes support for stablecoins and other tokenized projects, particularly exploring the use of stablecoins as payment tools, which could revolutionize payment systems, supply chain management, and capital market activities [2] - A regulatory framework for stablecoin issuers will be implemented starting August 1, 2025, establishing requirements for reserve asset management, stability mechanisms, redemption processes, and prudent risk management [2][4] Group 4: Tokenization of Assets - The Hong Kong government plans to regularize the issuance of tokenized government bonds and promote the tokenization of a wider range of assets and financial instruments, including precious metals and renewable energy [3] - The declaration positions the tokenization of RWA as a key industry development direction, aiming to bridge the gap between the virtual economy and the real economy [4] Group 5: Institutional Innovations - The declaration outlines a clear timeline for stablecoin regulation, with Hong Kong set to become one of the few jurisdictions to provide a "landing pass" for stablecoins, facilitating their legalization and standardization [4] - Tokenized ETFs and digital asset funds, if legislated, will enjoy the same stamp duty and profits tax exemptions as traditional ETFs, significantly reshaping financial market rules and attracting international capital to Hong Kong [4]