Core Viewpoint - JF SmartTrade, a wholly-owned subsidiary of NineFang Smart Investment Holdings, has entered into a share subscription agreement with EX.IO, a virtual asset trading platform, to enhance its overseas digital asset business strategy [1] Group 1: Company Overview - NineFang Smart Investment Holdings is focusing on expanding its digital asset business through strategic investments [1] - EX.IO, established in 2023 in the Cayman Islands, operates primarily in Hong Kong and has received a virtual asset trading platform license from the Securities and Futures Commission in December 2024 [1] Group 2: Strategic Intent - The investment in EX.IO is aimed at leveraging its trading resources and Web3 technology to accelerate the company's overseas digital asset business development [1] - The board believes that this subscription aligns with the company's overall strategic planning and the intended use of the raised funds [1] Group 3: Market Positioning - The funds raised from the subscription will be strategically invested in the digital asset exchange to foster the development of an on-chain financial ecosystem [1] - This move is seen as a core component of the company's overseas strategy, enhancing its capabilities in on-chain financial services and supporting business diversification and sustainable growth [1]

Group 1 - The company, JF SmartTrade, has entered into a share subscription agreement with EXIO Group Limited to acquire shares, aiming to enhance its digital asset business and overseas strategic development [1] - The investment in EX.IO is aligned with the company's overall strategic planning and funding purposes, focusing on building a core component of its overseas digital asset business [1] - The partnership with EX.IO is expected to leverage its exchange resources and Web3 technology advantages, accelerating the company's overseas digital asset market expansion and enhancing on-chain financial service capabilities [1] Group 2 - The global digital asset industry is accelerating its globalization process, with Hong Kong serving as an international financial center that offers a high-standard compliance regulatory framework for digital assets [2] - EXIO Limited, a subsidiary of EX.IO, holds a virtual asset trading platform operating license issued by the Hong Kong Securities and Futures Commission, providing a rare compliance guarantee [2] - The investment in a licensed digital asset exchange is anticipated to enhance the company's service capabilities in digital asset trading, asset management, and custody, facilitating compliant operations and a service closed loop [2] Group 3 - EX.IO possesses technical and service capabilities in blockchain and Web3 infrastructure, while the company has experience in developing smart investment advisory products for individual investors [3] - The collaboration aims to explore the deep integration of digital asset trading, asset management, and smart investment advisory services, promoting the innovative application of the "AI + research" strategy in digital asset scenarios [3] - The partnership is expected to assist in the development of digital asset advisory systems and algorithms, further enhancing the company's competitive advantage and service capabilities in the digital finance sector [3]

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分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 JF SmartInvest Holdings Ltd 九方智投控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9636） 自願性公告 認購EXIO Group Limited股份 本公告乃由九方智投控股有限公司（「本公司」，連同其附屬公司，統稱「本集團」） 自願作出。本公告旨在知會本公司股東（「股東」）及潛在投資者有關本集團之股份 認購事項。 認購事項 本公司董事（「董事」）會（「董事會」）欣然宣布，於2025年9月23日，本公司全資 子公司JF SmartTrade (BVI) Limited（「JF SmartTrade」）與EXIO Group Limited （「EX.IO」或「目標公司」）訂立股份認購協議（「股份認購協議」），據此，JF SmartTrade同意認購EX.IO股份（「認購事項」）。 (2) 發揮業務協同效應，打造數字資產生態 雙方將共同把握香港數字資產市場的政策機 ...

Core Viewpoint - Bakkt Holdings has appointed fintech veteran Mike Alfred to its board to enhance governance and accelerate its initiatives in next-generation financial infrastructure, focusing on digital asset trading and related services [1][2]. Group 1: Company Developments - Mike Alfred's appointment is aimed at supporting Bakkt CEO Akshay Naheta in executing the company's growth roadmap, leveraging Alfred's reputation in the digital asset ecosystem to deliver long-term shareholder value [2]. - Bakkt, founded in 2018 and headquartered in New York, offers institutional-grade trading and on-ramp solutions for digital assets, expanding its product suite across futures, custody, and payments [3]. Group 2: Market Reaction - Following the announcement of Mike Alfred's appointment, BKKT shares experienced a 40% increase during pre-market hours [4].

Core Insights - Digital asset investment products recorded an inflow of $1.9 billion last week, reflecting a positive market response following the Federal Reserve's "hawkish rate cut" [1] - Bitcoin and Ethereum attracted $977 million and $772 million respectively, contributing significantly to the overall inflow [1] - The total assets under management (AuM) in digital assets reached a new high of $40.4 billion for the year, approaching last year's record level of $48.6 billion [1]

Group 1: Beijing Cultural Development - Beijing has made significant progress in building a national cultural center by leveraging high-tech industries and innovation [1] - The Beijing Tongrentang Zhi Ma Health Zero Store is a new retail concept that combines traditional Eastern art with modern living, covering an area of approximately 4,700 square meters [1] - The Zero Store features Asia's largest unmanned vending machine capable of holding 9,000 products, showcasing a 24-hour service model with robotic delivery [1] Group 2: Technological Integration in Health Sector - The Zero Store incorporates cutting-edge technologies such as ELO screens, facial recognition, thermal imaging, and AI face diagnosis, creating an engaging health experience [2] - The "Modular World" ecosystem offers support for innovation projects, with over 150 companies applying for entry and an occupancy rate exceeding 80% [2] - Notable companies, including Hai Zhi Technology and Tengyun Tianxia, have established a presence in the "Modular World" [2] Group 3: Digital Culture and Content Development - The China Digital Culture Group focuses on immersive VR cinema experiences and has partnered with top institutions to enhance digital content offerings [3] - The group is developing a cultural digital asset evaluation center and a four-tier platform system to manage cultural digital resources [3] - Efforts are underway to build a comprehensive database of Chinese cultural heritage, including intangible cultural heritage and performing arts [3]

Core Insights - Kevin Durant has regained access to his Bitcoin account after losing login information, leading to a significant financial windfall as Bitcoin prices have surged [1][4] - Coinbase CEO confirmed Durant's regained control over his Bitcoin assets, highlighting the importance of this event in the cryptocurrency space [3] Investment Background - Durant first invested in Bitcoin in 2016 at approximately $600 per coin, with the current price soaring to around $117,000, representing an increase of nearly 200 times [4] - His Bitcoin assets had been dormant for years due to login issues but have now accumulated substantial wealth during the recent Bitcoin bull market [4] Relationship with Coinbase - Durant has a longstanding relationship with Coinbase, having co-invested in the platform in 2017 and becoming a brand partner since 2021 [4] - This partnership underscores the growing intersection between sports and cryptocurrency, as more NBA players explore digital assets [4] Industry Trends - The trend of NBA players engaging in digital assets is on the rise, with examples including Tristan Thompson's Web3 fan interaction project and Spencer Dinwiddie's attempt to tokenize his NBA contract [4]

Group 1: Market Overview - The recent progress in the new round of China-US trade negotiations has boosted risk appetite in the Hong Kong stock market, with the Hang Seng Index surpassing 27,000 points [3] - The Federal Reserve's interest rate cut has improved liquidity conditions, supporting the overall market [3][8] - The technology sector has shown strong performance, with the Hang Seng Technology Index reaching a new high for the year [3] Group 2: Valuation Insights - As of September 19, 2025, the price-to-earnings (P/E) ratios for the Hang Seng Index and Hang Seng Technology Index are 12.04 and 23.86, respectively [6][7] - The technology sector in Hong Kong has potential for valuation recovery, with strong earnings growth expectations driven by software services and platform economy innovations [9] Group 3: Sector Analysis Technology - Alibaba and Baidu have begun using self-developed chips for AI model training, reducing reliance on Nvidia chips, indicating significant progress in domestic AI computing power [8] - The valuation of Hong Kong's technology sector remains attractive compared to US tech giants, with a P/E ratio of 23.86 versus 42.86 for the Nasdaq [9] New Consumption - Recent policies from the Ministry of Commerce aim to boost service consumption, which may enhance the basic economic outlook for new consumption sectors [10] - Hong Kong's new consumption sector is filling gaps left by traditional A-share markets, focusing on service and experiential consumption [12] Pharmaceuticals - The recent regulatory changes are expected to benefit innovative drug companies in Hong Kong, with a P/E ratio of 36.36 for the innovative drug index, indicating potential for valuation recovery [13] Financials - The brokerage sector is experiencing a revival due to active market conditions, with low historical valuations presenting opportunities [14] - The insurance sector is expected to benefit from regulatory changes aimed at improving quality and reducing risks [14] Dividends - The low interest rate environment and economic recovery are favorable for dividend strategies, with the Hong Kong dividend index showing a P/E ratio of 8.71 and a dividend yield of 5.97% [15]

Core Viewpoint - Hong Kong ALMAD Group aims to reshape the global economic landscape over the next two decades by focusing on nine innovative industries and expanding its business network across emerging markets, including ASEAN and the Middle East [2][8] Group 1: Investment in Emerging Markets - ALMAD Group is focusing on innovative industries such as culture, entertainment, sports, media, globalization of traditional Chinese medicine, business management, and the large cultural tourism sector, which are expected to have high market feasibility and significant commercial potential [3][8] - The group aims to serve the future market demands of Generation Z and Generation Alpha through its diverse business portfolio [3] Group 2: Innovation and Financial Breakthroughs - ALMAD Group is committed to being at the forefront of Web3 financial innovation, exploring potential opportunities in the digital realm while adapting to market and regulatory changes [4] - The group has a history of supporting early-stage technology startups, including successful investments in Xiaohongshu, XPeng Motors, and Micro Connect, aiming to design breakthrough strategies for commercial success [4] Group 3: Global Expansion of K11 by AC Cultural Ecosystem - K11 by AC, a cultural brand under ALMAD Group, is focused on reshaping the retail and cultural market landscape, managing retail assets and cultural art districts [5] - The brand is rapidly expanding its anime IP business "Experience 11" in mainland China and the Middle East, targeting the growing ACGN (Animation, Comics, Games, Novels) and second-dimensional industries [5] Group 4: Continuous Business Innovation - ALMAD Group represents the latest direction in business model innovation and ecosystem development initiated by its founder, who previously launched K11 and introduced the "cultural and commercial integration" concept [6] - The group is actively attracting like-minded business partners and strategic investors to co-create future business opportunities [6] Group 5: About the Founder - Dr. Zheng Zhigang, founder and executive chairman of ALMAD Group, is recognized for his visionary leadership and cultural entrepreneurship, having initiated landmark projects such as Victoria Dockside and Kai Tak Sports Park [7] - He is also dedicated to creating shared value for society through various non-profit initiatives focused on contemporary art and traditional craftsmanship [7]

北京时间9月20日，尽管杜兰特尚未与火箭队续约，但在场外他已经赚得盆满钵满。据CNBC报道，杜兰特成功重新登录了自己一直被尘 封的Coinbase账户。此前，他因忘记登录信息而备受困扰，如今不仅解决了这一问题，还重新获得了近十年前购入比特币的控制权。 Coinbase首席执行官阿姆斯特朗在社交媒体上确认，杜兰特通过Coinbase支持工具成功重设了账户密码。 2016年，杜兰特与经纪人里奇-克莱曼参加了风险投资家本-霍洛维茨的生日派对，随后首次购入了比特币。克莱曼回忆道，在那个晚上 至少提到了25次"比特币"这个词，第二天他们就开始投资比特币了。然而，克莱曼没有透露当时购入比特币的数量。据美国媒体报道， 杜兰特首次购买比特币时，价格约为每枚600美元；而现在，比特币的价格已经接近11.7万美元，涨幅达到了近200倍。 由于多年无法登录账户，这些比特币资产一直保持原状，并完整经历了金融市场史上最庞大的一轮牛市。根源于遗失的登录凭证，克莱 曼在之前的谈话中甚至开玩笑地说："不过，比特币的价格一直在上涨……所以，其实这对我们反而有利。"如今，这个问题终于解决 了。 多年来，杜兰特与Coinbase一直保持密切联系。 ...