Yunfeng Financial Group Limited 雲鋒金融集團有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 (於香港註冊成立之有限公司) (股份代號: 376) 與螞蟻數科達成戰略合作協議、戰略投資 Pharos 公鏈 共築機構級 RWA 金融新基建 雲鋒金融集團有限公司（「本公司」，連同其附屬公司統稱為「本集團」）欣然宣佈， 於二零二五年九月一日，本公司與螞蟻數字科技（螞蟻集團旗下科技商業化板塊，「螞 蟻數科」）達成戰略合作協議； 同時，本集團對Pharos Network Technology Limited（「Pharos」） 進行戰略投資。 進行戰略聯合以及對 Pharos 投資之理由及裨益 隨著全球數字化進程加速，Web3 技術與現時金融的融合已成為推動產業升級的關鍵驅 動力。此次與螞蟻數科戰略合作，將充分發揮雙方優勢：螞蟻數科在區塊鏈與數字金融 領域的技術積累，結合本集團在現時金融業務（資產管理、證券、保險）及新 ...

Group 1 - The core viewpoint of the news is that Ocean Group has successfully improved its profitability and adjusted its business structure in response to the complex global economic environment, reporting significant growth in revenue and profit [1][2] - For the six months ending June 30, 2025, the company recorded a revenue of HKD 291 million and a gross profit of approximately HKD 61.8 million, representing a substantial year-on-year increase of 66.6%, with a gross margin rising to 21.3% [1] - The company achieved a net profit of HKD 2.411 million, successfully reversing the loss from the same period last year [1] Group 2 - The silicone business, as the traditional core of the company, generated revenue of approximately HKD 102 million, with products widely used in consumer electronics, automotive, medical, and household goods [1] - The company plans to continue its dual-track development strategy, focusing on both traditional silicone product production and expanding into markets such as new energy, drones, and robotics [1] - In the digital marketing segment, the business achieved revenue of approximately HKD 186 million during the reporting period, significantly enhancing its profitability and becoming a key driver of overall performance improvement [1] Group 3 - Ocean Group is actively promoting a strategic transformation centered around Web 4.0, exploring innovative applications such as artificial intelligence digital humans and the tokenization of real-world assets (RWA) to inject new momentum for sustainable growth [2] - The future growth potential of the company is expected to further expand as it delves into these innovative applications [2]

Group 1 - The market for stablecoins is experiencing significant growth, with Circle's USDC market capitalization surpassing $70 billion and a 24-hour trading volume exceeding $12.2 billion, indicating strong demand for stablecoins [1][3] - The South Korean opposition party has prioritized the establishment of a legal framework for a Korean won stablecoin, while Circle has proposed collaboration on a US dollar stablecoin, reflecting its strategic expansion in Asia [3][4] - The rapid growth of USDC and other dollar-pegged stablecoins is influenced by the international status of the dollar and the Federal Reserve's financial infrastructure, highlighting the urgent demand for decentralized finance (DeFi) and on-chain asset circulation [3][5] Group 2 - Binance's founder CZ emphasized the potential of decentralized exchanges (DEX) and the integration of blockchain with artificial intelligence (AI) as key directions for future industry breakthroughs [4][6] - The total market value of stablecoins is projected to grow from $250 billion to $3.7 trillion by 2030, showcasing their significant development potential [5][6] - Innovative platforms like XBIT are gaining popularity by offering users complete control over their assets without the need for identity verification, aligning with the increasing emphasis on financial autonomy and data privacy [5][6]

Group 1 - The company, 瑞和数智, has signed a framework agreement with 铁林超光(深圳)科技有限公司 to establish a close partnership in the field of Real World Asset (RWA) tokenization [1][2] - The partnership aims to leverage the partner's background and business scenarios to provide quality underlying assets suitable for RWA issuance, along with expertise in asset on-chain, issuance, market promotion, and liquidity provision [1] - The first project under this collaboration is a renewable energy power plant with a total installed capacity of 61.66 megawatts, with the partner having invested approximately RMB 250 million in the project [1] Group 2 - The board believes that this strategic cooperation will provide the company with quality assets and project resources for RWA business, while also leveraging its technological advantages in information technology services, artificial intelligence, and digital transformation [2] - This strategic cooperation is part of the RWA projects proposed under the framework of the "cryptocurrency asset strategic investment" announcement disclosed on July 24, 2025 [2]

Core Insights - The integration of traditional finance and digital assets is undergoing a structural transformation, with major financial institutions rapidly tokenizing real-world assets (RWA) and incorporating them into core financial operations [1][2]. Group 1: Innovations in Financial Instruments - Three key areas of innovation include custom money market funds for stablecoins, blockchain-based intraday repurchase agreements, and fully digital commercial paper issuance [2]. - Traditional financial institutions are actively entering the stablecoin market, viewing it as a crucial bridge between the digital and real worlds. Notably, BNY Mellon is preparing to launch a stablecoin reserve money market fund, following BlackRock and Goldman Sachs [3][4]. - The BNY Dreyfus Stablecoin Reserves Fund will primarily invest in U.S. Treasury securities, repos, and cash, with a focus on compliant reserve assets for stablecoin issuers [3]. Group 2: Blockchain in Liquidity Management - The report highlights two significant advancements in the repurchase market utilizing blockchain technology to address liquidity needs outside traditional trading hours [4][5]. - A standard repurchase transaction was completed on the Canton Network, showcasing instant settlement without intermediaries, involving major institutions like Citadel [4]. - A collaboration between JPMorgan, HQLAx, and Ownera has led to a cross-ledger repurchase solution, allowing precise settlement times and enhancing intraday liquidity management [5]. Group 3: Digital Transformation of Commercial Paper - The application of blockchain technology has penetrated the core processes of traditional debt instruments, exemplified by the issuance of $100 million in U.S. commercial paper by OCBC Bank using JPMorgan's digital debt services [6][7]. - State Street purchased the entire issuance, becoming the first third-party custodian to utilize digital debt services, enhancing efficiency and transparency in the process [8]. Group 4: Regulatory Landscape - The intersection of digital assets and traditional finance is just the beginning, with the development of regulatory frameworks being crucial for widespread adoption. The CLARITY Act aims to establish a comprehensive regulatory framework for all digital assets in the U.S. [9]. - The CLARITY Act has passed the House but is yet to pass the Senate, with expectations that it will not reach the President's desk until early 2026 [9].

Group 1 - ACCA suggests increasing the investment limit for residential properties under the new capital investor entry scheme to HKD 25 million to stimulate the real estate market and attract more investors [1][2] - The new capital investor entry scheme is expected to bring over HKD 37 billion in investments to Hong Kong by April 2025, reinforcing its status as an international investment hub [1] - The current investment limit for residential properties was set at HKD 10 million, with a minimum investment requirement of HKD 50 million for applicants [1] Group 2 - ACCA has proposed 11 forward-looking and sustainable policy measures aimed at reform, economic stimulation, and improving livelihoods, including measures to attract international companies for dual listings and regional headquarters [2] - The president of ACCA Hong Kong emphasizes the need for Hong Kong to respond to global geopolitical tensions and economic uncertainties while seizing opportunities to maintain its competitive edge [2] - Recommendations include incorporating ACCA professional qualifications into Hong Kong's talent list to enhance the city's appeal to global accounting professionals [1][2]

Core Viewpoint - The company has officially launched its Web 4.0 transformation blueprint and RWA ecosystem, emphasizing that Web 4.0 represents not only a technological evolution but also an ecological reconstruction [1][3]. Group 1: Strategic Transformation - The company is initiating a comprehensive strategic transformation towards Web 4.0, focusing on three core drivers: artificial intelligence (AI), Real World Asset (RWA) tokenization, and the Hong Kong policy ecosystem [3]. - The strategic framework is built on three pillars: Data Standardization, Asset Tokenization, and Transnational Value, aiming to facilitate intelligent asset management and global circulation through AI digital humans in education, gaming, and healthcare sectors [3][4]. Group 2: Sector-Specific Applications - In the education sector, AI digital human technology will generate personalized content, enabling the RWA of research outcomes for knowledge asset sharing and stable cash flow [4]. - The gaming sector will leverage AI digital human technology to enhance immersion, tokenizing virtual assets to build a metaverse economy [4]. - In the healthcare sector, AI digital human medical assistants will integrate health data and service assets into RWA, improving user experience and generating capital returns [4]. Group 3: Revenue Streams - The company anticipates generating four types of revenue from its AI initiatives: income from AI digital human traffic, one-stop financing consulting for SMEs involving AI and RWA, transaction fees related to RWA trading, and multilingual AI customer service and marketing outsourcing fees [4]. Group 4: RWA Development and Opportunities - RWA aims to convert traditional assets into digital assets using blockchain technology, addressing issues like liquidity, high financing thresholds, and matching supply and demand in the real economy [6]. - RWA aligns with the strategic direction of developing the digital economy, enhancing asset allocation efficiency, and supporting the construction of a transparent and resilient capital market [6]. - RWA can also provide financial innovation tools for initiatives like rural revitalization and carbon neutrality, directing social capital towards green industries and agriculture [6]. Group 5: Progress and Collaborations - The company has successfully launched its RWA underlying asset operation platform, marking a significant step in the RWA ecosystem [7]. - A strategic cooperation agreement has been signed with the Shenzhen Artificial Intelligence Industry Association to establish various centers and funds, enhancing the company's AI digital human and application landscape [7]. - The company has pre-released a guide on RWA tokenization, providing practical insights and best practices for the industry [7]. Group 6: Future Outlook - The company aims to leverage its 18 years of listing experience to connect global capital and technological innovation, focusing on sustainable and expandable digital economic systems in the education, gaming, and healthcare sectors [8]. - The goal is to become a leading enterprise in the Asia-Pacific region in both AI and RWA sectors, contributing to high-quality global digital economic development [8].

Core Insights - The report by CertiK highlights the rapid growth of the Real World Assets (RWA) market, which has reached over $26 billion by mid-2025, a fivefold increase from approximately $5 billion in 2022, making it one of the most dynamic segments in the digital asset ecosystem [1][2] - The integration of traditional finance (TradFi) and decentralized finance (DeFi) is driving RWA development but also introduces complex security challenges beyond smart contract issues, including oracle manipulation, counterparty risks, and legal enforceability problems [1][2] Security Threat Landscape - In the first half of 2025, direct losses from RWA-related security incidents reached $14.6 million, significantly up from $6 million in 2024, indicating a shift in risk focus from off-chain credit defaults to on-chain technical vulnerabilities and operational failures [2] - The increase in losses reflects a deep evolution in the RWA security landscape, necessitating heightened security measures as the number of on-chain users grows, thereby expanding the potential attack surface [2] Leading Protocols and Market Concentration - The top-performing protocols in the RWA space are primarily from traditional financial giants like BlackRock and Franklin Templeton, which demonstrate robust security levels through institutional-grade compliance and transparency mechanisms [2] - The RWA market is currently concentrated on a few key blockchains and protocols, with most RWA assets deployed on Ethereum, indicating that the overall stability of the RWA market is highly dependent on the security and operational status of these core participants [3]

Group 1 - The RWA market is projected to exceed $26 billion by the end of June 2025, representing a fivefold increase from approximately $5 billion in 2022, making it one of the most dynamic segments in the digital asset ecosystem [1][2] - The integration of traditional finance (TradFi) and decentralized finance (DeFi) is driving RWA development but also introduces complex security challenges beyond smart contract vulnerabilities, including oracle manipulation and legal enforcement issues [1][2] - Direct losses from RWA-related security incidents reached $14.6 million in the first half of 2025, a significant increase from $6 million in 2024, with losses primarily stemming from on-chain and operational vulnerabilities [1][2] Group 2 - The security landscape for RWA is evolving, shifting the risk focus from off-chain financial defaults to on-chain technical vulnerabilities and operational management errors [2] - Top-performing protocols in the RWA space are from traditional financial giants like BlackRock and Franklin Templeton, which demonstrate robust security through institutional-grade compliance and transparency mechanisms [2] - The growth of RWA is currently concentrated on a few key blockchains and protocols, with most RWA assets deployed on Ethereum, indicating that the overall stability of the RWA market heavily relies on the security and operational status of these core participants [2]

Group 1 - The Australian Institute of Chartered Accountants suggests promoting Hong Kong as the preferred location for dual listings of overseas companies and encourages the government to explore the feasibility of a "New Stock Connect" mechanism to meet the growing global asset allocation needs of mainland investors [1][3] - The institute emphasizes the need for Hong Kong to enhance its competitiveness by leveraging its unique advantages as a free port and its business environment to solidify its long-term economic momentum [1][2] - The proposal includes introducing a "Qualified Refundable Tax Credit (QRTC)" plan for multinational companies in the maritime services and commodity trading sectors to attract foreign investment and strengthen Hong Kong's position as an international trade and shipping center [1][2] Group 2 - The Australian Institute of Chartered Accountants supports the development of the low-altitude economy as a means to diversify the economy, highlighting its potential in logistics, transportation, and urban planning [1][2] - Recommendations include establishing a robust electronic government framework and modernizing operational processes to simplify public service workflows, which are crucial for attracting businesses and investors [2][3] - The institute calls for aligning Hong Kong's Sustainable Finance Classification with international standards to attract green project investments, emphasizing the importance of sustainable development for Hong Kong's future [2][3] Group 3 - The institute advocates for a standardized carbon trading framework and the exploration of a "carbon market interconnection" plan to reinforce Hong Kong's leadership in the green finance sector [3] - Hong Kong's robust financial system and free flow of capital are expected to support a return to a leading position in the global IPO market by 2025, despite ongoing global uncertainties [3][4] - The proposal includes a trial of a "periodic trading platform" for private companies to enhance liquidity in the private equity market, providing a transitional platform for growth-stage companies towards public listing [3][4] Group 4 - The introduction of the "LEAP" framework to establish a reliable and innovative digital asset ecosystem is seen as a significant milestone for Hong Kong, with a focus on responsible development of stablecoins under moderate regulatory conditions [4] - Recommendations also include enhancing cybersecurity for small and medium-sized enterprises through initiatives like the "SME Cybersecurity Subsidy Scheme" and "CyberSafe HK" certification [4]