Token Listing - $ZIG is now in post-only mode on Kraken [1] - Deposits for $ZIG are now open on Kraken [1] Project Overview - $ZIG is the native token of @zigchain [1] - Zigchain is a Layer-1 blockchain where RWAs (Real World Assets) and DeFi (Decentralized Finance) converge on-chain [1]

Exotic RWAs Overview - MessariCopilot has a good handle on what Exotic RWAs are, despite the term being relatively undefined [1] - Exotic RWAs expand the concept of standard RWAs (like government bonds, real estate, or commodities) to less conventional or more assets [1]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1][7]. Core Insights - The company achieved a revenue of 5.42 billion yuan in H1 2025, representing a year-on-year increase of 15.3%, and a net profit attributable to shareholders of 520 million yuan, up 26.4% year-on-year [3][7]. - In Q2 2025, the revenue was 2.49 billion yuan, with a year-on-year growth of 8.8%, and a net profit of 270 million yuan, reflecting a 19.1% increase year-on-year [3][7]. - The significant growth in energy service revenue, which surged by 379% to 1.08 billion yuan, is attributed to the ongoing development of distributed photovoltaic projects and the expansion of energy trading services [7]. - The company has partnered with Ant Group to leverage blockchain technology, successfully completing the first domestic issuance of RWA based on photovoltaic assets, enhancing asset liquidity [7]. - The establishment of a joint venture "Ant Xinneng" with Ant Group focuses on AI technology applications in smart operation of power stations, optimization of electricity trading strategies, and collaborative control of virtual power plants [7]. Financial Projections - The company is projected to achieve revenues of 10.13 billion yuan, 10.68 billion yuan, and 11.17 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits of 850 million yuan, 970 million yuan, and 1.08 billion yuan for the same years [9][10]. - The expected P/E ratios for 2025, 2026, and 2027 are 24, 21, and 19 respectively [9][10].

Real-World Asset (RWA) Tokenization - RWAs (Real-World Assets) issuers will brand themselves on neutrality and succeed [1] - RWAs will leverage credible neutrality, similar to Apple's privacy stance against the US government [1]

Core Insights - The real estate market is undergoing significant adjustments and structural changes, facing increased challenges and pressures, while the trend of asset tokenization is becoming clearer, with initial breakthroughs in the RWA (Real World Assets) tokenization exploration in the real estate sector [2][4] Group 1: Industry Developments - Greenland Group's subsidiary, Greenland (Asia) Securities, received approval for digital asset-related licenses from the Hong Kong Securities and Futures Commission in July [4] - New City Development Holdings announced the establishment of a digital asset research institute in August, aiming to raise approximately HKD 49.4 million for strategic layout in the RWA field [2][4] - The global RWA market is projected to exceed USD 16 trillion by 2030, with a rapid growth forecast, reaching USD 26.7 billion by August 2025 [3] Group 2: Company Strategies - New City Development plans to establish a digital asset management company focusing on three key areas: issuing NFTs based on its unique IP, tokenizing asset revenues from its properties, and exploring the tokenization of financial assets like convertible bonds [4][5] - The company aims to complete the registration and platform construction of its digital asset management company by the end of 2025, with the first batch of NFT digital collectibles expected to be launched [5] Group 3: Market Context and Challenges - The establishment of New City Development's digital asset research institute is a strategic response to favorable policy trends and market opportunities, supported by various government initiatives to promote the digital economy [6] - Despite the proactive moves by real estate companies, the current digital asset business has not yet generated significant revenue, and there are uncertainties regarding regulatory clarity and market acceptance of asset tokenization [6] Group 4: Financial Performance - In the first half of 2025, New City Development reported revenues of CNY 22.174 billion and a net profit of CNY 0.692 billion, with a notable increase in commercial operations revenue by 11.78% [8] - The company's average borrowing cost decreased by 0.18 percentage points to 5.84%, and its financing cost net fell by 11.9% to CNY 1.378 billion, attributed to reduced borrowing interest and exchange losses [8]

Blockchain & RWA Analysis - RWAs (Real World Assets) may not align with the principles of a credibly neutral blockchain [1] - Bitcoin is considered stateless, non-sovereign, and purely programmatic money [1] - Tokenized property remains subject to legal jurisdictions and national regulations [1] Regulatory & Legal Considerations - National governments, such as the United States, are unlikely to permit the seizure of property, even if tokenized, due to hacking or other illicit activities [1]

Discussing RWAs n the Pokemon SUPER CYCLE.LIVE RIGHT NOW ---> https://t.co/xb5cJv4chyIs this the new 'meta'? Or just the next SHINY (holographic) trend for now.... https://t.co/PBsh0mNcM0Easy (@EasyEatsBodega):Live RIGHT NOWhttps://t.co/QStcdJBhD4- Breaking down the Macro- The Collectibles / RWA space is HOT- Creator Capital Markets, real?- Prediction Plays (again)- Trade on Rhythm, Trade in Rhythm&& so much more🔋by @yeet https://t.co/53LDCak3wU ...

Which RWA altcoin are you most bullish on for Altseason?$LINK or $ONDO https://t.co/l63U4a0riB ...

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RWA & Tokenization - Galaxy Digital 将在 Solana 上对其 SEC 注册的股票进行代币化 [1] - 行业认为此举是 RWA（Real World Asset，现实世界资产）领域的重要举措 [1]