Group 1: Currency and Economic Outlook - The Japanese yen is under pressure due to political uncertainty following the ruling coalition's loss of majority in the Senate elections, making a rebound difficult [1] - The US short-term yields are expected to support the dollar, with initial jobless claims data indicating a stable labor market despite some signs of weakness [1] - The Bank of Canada is likely to maintain interest rates unchanged due to sticky inflation and a resilient economy, despite soft economic data [3] Group 2: Monetary Policy and Market Reactions - Two Federal Reserve officials, Bowman and Waller, are expected to vote against the consensus in the upcoming meeting, which may lead to a mild bullish reaction in the interest rate market [2] - The Bank of Japan may signal a shift towards a less dovish stance in its upcoming policy meeting, influenced by a recent trade agreement with the US that reduces uncertainty [4] Group 3: Investment Opportunities in A-shares and Technology - CITIC Securities suggests that the A-share market is on an upward trajectory, with a focus on technology and non-bank financial sectors as potential beneficiaries of the bullish sentiment [5] - The report highlights sectors such as pharmaceuticals, semiconductors, non-bank finance, and renewable energy as key areas of interest [5] - The AI sector is expected to see accelerated adoption and integration into business operations, with significant growth potential in the coming years [8][11] Group 4: Automotive and Semiconductor Industry Insights - The automotive industry is poised to benefit from advancements in autonomous driving regulations, with Shanghai leading the way in high-level autonomous driving applications [9] - The semiconductor industry is experiencing increased demand for advanced processes due to the AI boom, with domestic manufacturers working to catch up amid supply chain challenges [10] Group 5: Market Trends and Consumer Behavior - The report indicates a shift towards industrialization in the restaurant supply chain, driven by efficiency demands and the rise of pre-prepared food products [16] - The Hong Kong stock market is expected to present opportunities, particularly in the technology sector, which is seen as having significant recovery potential [12]

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的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就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的任何損失承擔任何責任。 GOLDSTREAM INVESTMENT LIMITED 金涌投資有限公司 （於開曼群島註冊成立之有限公司） 虛擬資產投資計劃標誌著本集團進軍Web3.0及虛擬資產領域。此計劃配合香港政府最近 推出的政策，積極支持Web3.0及虛擬資產產業的發展，旨在推動科技行業的創新。本集 團認為Web3.0及虛擬資產擁有巨大的增長潛力，並符合當前全球金融及商業發展趨勢。 因此，本集團將加強在穩定幣、現實世界資產（「RWA」）以及包含虛擬價值鏈的更廣泛 生態系統的投資和發展力度。透過對變革性科技採取積極的態度及審慎的投資方法，本 集團不單希望有效回應香港特別行政區政府所建立的有利政策環境，亦希望提升長遠股 東價值及創造策略性機會，藉以拓展至新興市場。 –1– 虛擬資產投資計劃將以本集團的內部資源和現金儲備撥付，並由本集團根據市場狀況、 本集團的業務發展和現金流水平，以審慎的方式酌情決定。 本集團將遵守香港聯合交易所有 ...

Group 1: Core Insights - The core viewpoint is that Tianji Holdings (01520) is leveraging the "stablecoin" concept and business expectations to find a reasonable valuation anchor, presenting investment opportunities for valuation correction [1] - The recent legalization of stablecoins in the U.S. and Hong Kong has driven investment enthusiasm in related sectors, creating a closed-loop ecosystem anchored by quality Chinese assets [2][3] - Tianji Holdings has made significant investments in AI and blockchain applications, particularly through its partnership with Xinqiao Capital, which enhances its Web3.0 transformation [1][5] Group 2: Business Developments - Tianji Holdings has established a joint venture with Xizuchain Technology to further expand its Web3.0 + sports IP economic layout, indicating a strategic move into new consumption operations [6] - The company has been actively seeking influential partners and has made substantial adjustments in its business and financing strategies since late last year, focusing on the development prospects of the Web3.0 sector [4][6] - In 2024, the company's IP application and product business is expected to grow significantly, with a projected revenue increase of 45.4 times, indicating a strong market position [7] Group 3: Market Response - Since mid-July, Tianji Holdings' market capitalization has doubled, driven by the legalization of stablecoins in Hong Kong and the company's strategic layout, reflecting positive investor sentiment [7] - The company has successfully conducted multiple placements to raise capital, demonstrating strong shareholder support and optimism regarding the Web3.0 + new consumption sector [6][7] - The recent surge in trading volume and market interest suggests that value investment funds are entering the market, further supporting the company's valuation recovery [7]

Core Viewpoint - The article emphasizes the importance of "investing in people" as a strategic choice for national development, focusing on transforming human resources into sustainable human capital through education, health, and skills training [2][6]. Group 1: "Investing in People" as a New Development Context - The transition from demographic dividend to talent dividend is necessary in the new development stage [5]. - Enhancing international competitiveness through "investing in people" is essential for the new development pattern [5]. - Exploring diverse paths for human capital investment aligns with the new development philosophy [5]. Group 2: Paradigm Shift from "Material-Based" to "Human-Based" Investment Logic - The historical evolution from "material-based" to "human-based" investment reflects a paradigm revolution [6]. - The rise of AI and other technologies shifts value creation from material resources to human capital, emphasizing knowledge and skills [6]. - The return on investment in education is increasingly surpassing that of material investments, indicating a shift in economic growth drivers [6]. Group 3: Chinese Wisdom in Overcoming the "Malthusian Trap" - China is innovatively addressing the challenges of population growth and resource constraints through "investing in people" [7]. - The focus is on qualitative improvements in human capital to optimize economic structure and enhance innovation capabilities [7]. - The strategic shift towards "investing in people" marks a fundamental breakthrough in China's development philosophy [7]. Group 4: Precision Investment Across the Lifespan - Technological advancements are leading to a shift towards precision investment in human capital throughout the entire lifecycle [8]. - Innovations such as brain-computer interfaces and digital twin technology are enhancing the efficiency and effectiveness of education and training [9]. - This approach aims to make investments in human capital more precise, inclusive, and efficient, covering all life stages [9]. Group 5: The Human-Centric Logic of Civilizational Evolution - The transition from "material-centric" to "human-centric" development is an inherent logic of civilization evolution [10]. - "Investing in people" is crucial for fostering innovation, professional skills, and adaptability, which are essential for sustainable economic development [10]. - This investment strategy is not only an economic imperative but also a philosophical choice for the future of civilization [10]. Group 6: Action Guide for Individuals and Organizations - The book serves as a guide for enterprises and governments, providing insights into how to navigate the "human efficiency revolution" [11]. - It analyzes successful international practices and offers pathways for individual growth in the new era [11].

Core Viewpoint - The collaboration between government and enterprises is creating a stablecoin ecosystem anchored by high-quality Chinese assets, with RWA assets on-chain expected to usher in the era of Web 3.0 [1][5] Group 1: Stablecoin and RWA - Stablecoins focus on "fiat currency tokenization," while RWA emphasizes "asset tokenization," enhancing asset liquidity and providing low-risk, stable-return financial products in the Web 3.0 space [2] - Hong Kong is leading the world in stablecoin legislation, closely following the U.S. legislative progress [2] Group 2: Blockchain Layers - The progression from consortium chains to Layer 2 public chains and then to Layer 1 public chains highlights the advantages of each layer, including compliance with KYC/AML regulations and high transaction performance [3] - Layer 1 public chains serve as the foundational layer for consensus, data storage, and smart contract execution, while Layer 2 enhances performance and liquidity [3] Group 3: RWA Development Phases - The first phase of RWA focuses on foundational construction, with assets being tokenized and offering fixed returns similar to traditional investments [4] - The second phase activates liquidity through a layered architecture, enabling a closed-loop of "financing-splitting-circulation" for RWA [4] - The third phase aims to create a mature global RWA ecosystem with cross-chain transactions becoming the norm [4] Group 4: Investment Recommendations - The report suggests monitoring companies involved in RWA asset tokenization, such as Aorede, Longxin Group, and Xiexin Energy, during the foundational phase [5] - For the liquidity activation phase, attention should be given to trading platforms and internet brokerages like Yao Cai Securities and Dongfang Wealth [5] - In the global asset network integration phase, major internet giants like JD.com and Alibaba are recommended for observation [5]

宜搜科技配股募资超3亿港元，布局现实世界资产业务（RWA）等；多点数智募资近4亿港元，投向稳 定币及区块链研发……香港《稳定币条例》生效在即，多家港股公司融资布局相关业务，备受市场关 注。 业内人士认为，近期多家港股公司"抢滩"稳定币的举措，在二级市场引起投资者关注，公司股价呈现上 涨态势。当中部分企业在稳定币等领域积累较深，具备较强的竞争优势，市场发展空间较大，但需警惕 蹭热度的公司，避免市场炒作风险。 募资布局稳定币等新兴领域 据不完全统计，超过40家港股公司在7月披露再融资公告。其中，多家港股公司募集资金的主要用途为 布局稳定币相关业务。 7月24日，宜搜科技发布公告称，该公司、控股股东Growth Value LTD.及配售代理订立配售及认购协 议，Growth Value LTD.将出售6578.7万股，按最后交易日（7月23日）收盘价折让14.7%，确定每股配售 价5.26港元。同时，宜搜科技按照每股5.26港元，向该股东发行同等数量的股份。 截至7月25日，宜搜科技自6月29日宣布推进现实世界资产代币化以来，股价累计上涨58.62%；多点数 智自7月3日宣布申请稳定币以来，公司股价涨幅超26.5 ...

Group 1 - The company, 加幂科技, has entered a memorandum of understanding with South Pacific for a potential investment in the stablecoin business, which is expected to be regulated by the Vanuatu government [1] - South Pacific aims to launch its sovereign-regulated stablecoin globally by the end of this year, which is anticipated to enhance user and market confidence, attracting both institutional and individual users in the Web3.0 ecosystem [1] - The stablecoin will create various revenue opportunities, including fees for subscription and redemption, transaction fees, and returns from investments in fiat currency reserves [1] Group 2 - South Pacific plans to collaborate with major cryptocurrency exchanges, payment processors, banks, and cross-border e-commerce platforms to enhance the liquidity and acceptance of its stablecoin [2] - The memorandum indicates South Pacific's commitment to entering the stablecoin investment sector, aiming to establish a first-mover advantage and expand its presence in the Web3.0 ecosystem, particularly in Belt and Road countries [2] - The company’s subsidiary, 元思维创新有限公司, intends to acquire a 20% stake in RhinoTradingPtyLtd, which provides financial services and holds necessary licenses for digital currency blockchain trading [2][3] Group 3 - The target company, RhinoTradingPtyLtd, primarily generates revenue through asset trading spreads and possesses licenses for digital currency trading services [3] - The acquisition is expected to enhance the company's diversification in the Web3.0 service supply chain, leveraging the established infrastructure and reach of the target company [3] - The company continues to focus on the development of Web3.0-related businesses, including the Chain Stream project and potential investments in other Web3.0 products [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 就 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。 Crypto Flow Technology Limited 加幂科技有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8198） 自願性公告 (1)有關潛在投資SOUTH PACIFIC之諒解備忘錄； 及 (2)收購目標公司20%股權及授出認購期權 以進一步收購35%股 權 本公告由本公司自願作出，旨在向股東及潛在投資者提供本集團的最新業務資料。 (1) 有關潛在投資SOUTH PACIFIC之諒解備忘錄 董 事 會 欣 然 宣 佈，於 二 零 二 五 年 七 月 二 十 五 日，投 資 者 與South Pacific就潛在 投 資 訂 立 諒 解 備 忘 錄，據 此，投 資 者 擬 認 購South Pacific的 新 股 份，惟 須 受 投 資者與South Pacific將訂立的股份認購協議及股東協議所載條件規限。 根 據 ...

Group 1 - The core point of the announcement is the signing of a memorandum of understanding between Tianji Holdings and Xizu Chain Technology to establish a joint venture focused on Web3.0 sports IP economic new consumption operations [1] - Xizu Chain Technology is a technology company that leverages blockchain technology, focusing on Web3.0 sports IP services, and aims to create new interactive experiences for global fans [2] - The proposed joint venture is seen as a significant milestone for the company in the Web3.0 field, aiming to enhance collaboration with Xizu Chain Technology and expand business areas, potentially leading to new growth opportunities [2] Group 2 - The LALIGACLUB platform, launched in collaboration with La Liga, is the first open commercial platform for sports IP based on Web3.0, integrating online and offline experiences [2] - The board believes that the joint venture will strengthen the company's competitive position and positively impact future development, aligning with the overall interests of the company and its shareholders [2]

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的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不因本公告全部 或部分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。 Virtual Mind Holding Company Limited （於開曼群島註冊成立之有限公司） （股份代號：1520） 有關建議成立合資公司之 諒解備忘錄 本公司董事（「董事」）會（「董事會」）欣然宣佈，於二零二五年七月二十 五日，本公司與西足鏈科技發展（北京）有限公司（「西足鏈科技」）就建議 成立合資公司訂立諒解備忘錄（「諒解備忘錄」），據此，訂約方同意共同成 立一間合資公司，專業承接 Web3.0 模式的體育 IP 經濟新消費運營業務（「建 議成立合資公司」）。關於建議成合資公司的相關運營計劃及更多細節，須待 簽訂正式協議後另行公告。 於本公告日期，西足鏈科技為信橋資本集團有限公司（「信橋」）的間接非全 資附屬公司。本公司主席兼執行董事 梅唯一先生（「梅先生」）持有信橋約 36.83% 股權，因此，信橋被視為梅先生的聯繫人，亦為本公司的關連人士（定 義見香港聯合交易所有限公司證券上市規則（「上 ...