Core Viewpoint - Kaisa Capital's stock price has surged dramatically, with a cumulative increase of over 350% in just two trading days, driven by the announcement of a strategic transformation into the Real World Asset (RWA) sector [2][3][6]. Group 1: Company Transformation - Kaisa Capital, originally focused on construction equipment, has announced a strategic shift towards RWA, leveraging its shareholder resources and technological capabilities in the Web3.0 space [3][6]. - The company aims to explore digital financial innovations within a compliant regulatory framework, starting from Hong Kong [3][6]. - Kaisa Capital has partnered with a licensed virtual asset trading platform to advance the tokenization of RWA, which includes physical assets like real estate and commodities [6]. Group 2: Financial Performance - Kaisa Capital's revenue has been under pressure, with a 5.29% decline to HKD 225 million in 2024, although there was a slight recovery in the first half of 2025 with a 5.88% increase to HKD 118 million [9]. - The company has faced instability in profitability, recording losses in two out of the last five years, with a profit of HKD 4.46 million in the first half of 2025 [9]. - As of June 30, 2025, Kaisa Capital's net current liabilities were approximately HKD 26.9 million, with total borrowings around HKD 12.7 million, indicating significant short-term debt pressure [9]. Group 3: Parent Company Situation - Kaisa Group, the parent company, has been in a liquidity crisis since late 2021, with total borrowings of RMB 133.739 billion as of June 30, 2023, of which RMB 119.252 billion is due within a year [11][12]. - The recent debt restructuring of Kaisa Group, which involved issuing new notes and bonds totaling approximately USD 13.372 billion, aims to alleviate financial pressure and extend debt maturities [12]. - While the restructuring may provide a more stable operating environment for Kaisa Capital, it does not directly resolve the subsidiary's high debt and cash flow issues [12].

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RT L.Lawliet 💢 (@Lfuckjpg)I am glad to see that opportunities for consumer oriented RWA are gradually being recognized by institutions, and Tabi has been laying the groundwork in this direction for a year.Large e-commerce companies like @hoobuyshopping are already using @TabiPayHQ , and in the future, more supply chain financial opportunities will be distributed on @TabichainTabi is not just about payments, it encompasses everything related to consumption. ...

Core Insights - The collaboration between China National Renewable Energy (中环新能源) and Ant Group marks a strategic shift from traditional asset-heavy operations to digital asset management, focusing on tokenization of renewable energy assets and smart operations [1][2][5] Group 1: Strategic Transformation - The partnership aims to enhance the management of renewable energy assets through tokenization, which will improve liquidity, reduce transaction costs, and foster trust in the market [1] - By collaborating with Ant Group, the company is transitioning from merely selling electricity to becoming a provider and manager of digital green assets, creating a closed-loop system connecting green assets, blockchain tokens, and global capital [2][5] Group 2: Operational Efficiency - The integration of Ant Group's AI technology is expected to significantly improve operational efficiency by enhancing power generation and load forecasting accuracy, maximizing the value of virtual power plants, and reducing operational costs [3] - This shift from reliance on human experience to AI-driven decision-making is anticipated to lead to a qualitative leap in operational efficiency and establish a new competitive edge based on data intelligence [3][6] Group 3: Carbon Asset Monetization - The collaboration will enable automated carbon accounting and intelligent carbon trading, transforming carbon assets from a compliance burden into a new revenue stream [4][5] - The creation of a carbon financial platform will facilitate the tokenization of green certificates and carbon reduction credits, establishing a standardized and liquid market for these digital assets [4][5] Group 4: Global Expansion and Market Positioning - The company is actively pursuing global expansion, having established partnerships with enterprises across Europe, the Middle East, Africa, and Southeast Asia, which will support its asset management and digital service offerings [5][6] - This strategic shift positions the company favorably in the competitive landscape of the renewable energy sector, transitioning from a heavy asset builder to a light asset manager and value integrator [6]

中证报中证网讯(记者武卫红)9月18日，永信至诚在香港"数字风洞"测评中心举办以"让信任更可靠，让 Web3.0更繁荣"为主题的发布会，正式发布"数字风洞"RWA(真实世界资产)数字健康管理系统，通过提 供全流程、端到端、可视化的数字健康管理解决方案，助力构建可信、安全、合规的数字资产生态。 据介绍，针对RWA运营阶段面临的智能合约风险、系统安全与应用安全风险以及人员安全问题，"数字 风洞"RWA数字健康管理平台通过企业级数字健康管理、智能合约风险审计、交易行为分析、审计报告 生成、人员安全能力提升等多个维度，全面防范RWA全链路安全风险，为RWA生态筑牢可信根基。 "数字风洞"RWA数字健康管理系统的发布，是永信至诚在数字安全领域的又一重要里程碑。按照规 划，未来公司将继续以"让安全成为可靠的代名词，让信任成为可验证的标准"为目标，为数字经济的繁 荣与发展保驾护航。同时，永信至诚将持续推动数字安全健康业务落地，依托香港国际总部，为香港及 全球第三代互联网企业提供全生命周期的数字健康管理服务。 随着全球资产数字化进程加速，在资产流动性和可访问性显著提升的同时，RWA面临的智能合约风 险、系统风险、应用风险以及 ...

Mocaverse has evolved into one of Web3’s broadest ecosystems.Moca Chain, powered by Moca ID + AirKit, anchors credentials and interoperability across 60+ partners spanning culture, retail, sports, gaming, RWA, education, and AI.Ecosystem Highlights 📊• SK Planet → OKI Club retail loyalty• OneFootball → Football ID fan identity• Soneium / San FranTokyo / MyAnimeList → anime + culture stack• Plume Network → RWA finance integration• Open Campus → education credentials• Anichess, Nifty Island & more → gaming par ...

📊 The @Dune x @RWA_xyz report is out, and here are the highlights:62% of tokenized bonds globally are issued on Polygon38% of Euro Treasury Bills are on Polygon29% of US Treasury Bills are on Polygon, same as Ethereum + more than all other chainsDune (@Dune):📙 RWA Report 2025 is live, co-produced by @Dune × @RWA_xyz, launched at the @rwasummit in Brooklyn.Clear theses + key trends, grounded in onchain data. Established players and emerging projects across treasuries, credit, equities, commodities & more.htt ...

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 24.58 CNY over the next six months, indicating a potential upside from the current price of 22.07 CNY [5]. Core Insights - The company has partnered with Ant Group to establish "Ant Chain Trust," focusing on green asset management and dynamic rating pricing using blockchain, IoT, and AI technologies [1][2]. - The collaboration aims to address the challenges in traditional green asset management, such as data silos and the inability to reflect real-time operational data and policy risks [2]. - The company is leveraging AI and Web3 technologies to enhance the lifecycle management of renewable energy assets, positioning itself as a core infrastructure provider in this sector [2][9]. - The report highlights the importance of real-world asset tokenization (RWA) as a growing category in the crypto market, with the company successfully completing the first RWA project based on renewable energy assets in China [3][9]. Financial Projections - The company is expected to achieve revenues of 51.73 billion CNY, 61.22 billion CNY, and 72.60 billion CNY for the years 2025, 2026, and 2027 respectively, with net profits projected at 5.31 billion CNY, 6.73 billion CNY, and 8.11 billion CNY for the same years [10]. - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 0.49 CNY, 0.62 CNY, and 0.75 CNY respectively, with a dynamic price-to-earnings ratio of 50 times for 2025 [12][10].

Core Viewpoint - Nasdaq's proposal to introduce tokenized securities aims to integrate blockchain technology into mainstream financial markets, marking a significant evolution in global capital market structures [5][10]. Group 1: Tokenization of Securities - Tokenized securities refer to the process of converting traditional financial assets into digital tokens via blockchain, allowing for 1:1 anchoring with physical securities and granting equivalent voting, dividend, and governance rights [7]. - The tokenization framework extends beyond public market securities to include Real World Assets (RWA) such as real estate, private equity, and art, enabling low-cost, high-transparency trading of previously illiquid assets [7][12]. - Stablecoins are expected to play a crucial role as transaction mediums and settlement tools in the tokenized ecosystem, facilitating instant payments without relying on traditional cross-border remittance networks [7][8]. Group 2: Nasdaq's Tokenization Settlement Plan - Nasdaq's tokenization settlement plan involves four key steps: investors select the "tokenized settlement" option through brokers, settlement instructions are sent to the Depository Trust Company (DTC), DTC locks the corresponding stocks in a dedicated account and triggers the minting of equivalent tokens via smart contracts, and finally, tokens are distributed to brokers' on-chain wallets [8]. - This hybrid model of "off-chain trading, on-chain settlement" retains traditional market liquidity while leveraging blockchain's efficiency, achieving near-instant (T+0) settlement and significantly reducing counterparty risk and capital costs [8][11]. Group 3: Strategic Motivations Behind Nasdaq's Move - Nasdaq's push for tokenized securities addresses deep-rooted inefficiencies in traditional settlement systems, aiming to compress the lengthy T+2 settlement process to seconds, thus lowering costs and risks associated with trading [11]. - The initiative seeks to expand the asset boundary by enabling the fractionalization of non-standard assets, thereby attracting a diverse range of global assets and new on-chain investors [12]. - By leading the charge in compliant tokenization frameworks, Nasdaq aims to maintain its global trading technology leadership amidst increasing competition from firms like BlackRock and JPMorgan [13]. Group 4: Implications for Global Financial Infrastructure - Nasdaq's approach to tokenization is reshaping the development path of global financial infrastructure, ensuring that digital tokens have the same legal status and investor rights as traditional securities [15]. - The integration of programmable features through smart contracts is expected to automate complex processes such as corporate governance and compliance, enhancing operational precision and efficiency in global capital markets [15]. - The hybrid model of "on-chain and off-chain" is anticipated to become an industry standard, opening compliant pathways for trillions in non-standard assets to enter the blockchain ecosystem [15]. Group 5: Challenges and Future Outlook - Despite the promising outlook for tokenized securities, structural challenges such as regulatory compliance, traditional financial system inertia, and the need for significant infrastructure upgrades pose hurdles to widespread adoption [16][17]. - The lack of a unified global regulatory framework for securities tokens remains a significant barrier, as different countries have varying legal definitions and investor access rules [16][17]. - The potential impact on Chinese stock exchanges could be profound, as Nasdaq's advancements in T+0 settlement and RWA compliance may attract domestic investors to overseas blockchain markets, challenging the current capital flow dynamics [19][20].

RT Yuyue (@yuyue_chris)这次 CZ @cz_binance 正式回来，真的让人感觉能跟他赚到钱了…有散户的赚钱效应真的没法黑从 Form four meme 的 $SKYAI 、到后来币安 alpha 的小山寨博弈场，把 sol meme 的优势搬到了 bnbchain 上，从 cabal / CTO 团队再到项目方 & VC 背书的应用，资产的本质币安这次确实玩明白了。CZ 不喜欢 meme，但他硬是做到了让玩 meme 的人也全来冲 alpha 上的这些应用币当成 meme 玩，这件事我承认我是没想到过的期待一些更新的叙事出现，比如 ICM & CCM & RWA 博弈的更可持续版本。meme 在当前的模式更多来说精髓在于公平发射，若要对标的话，alpha points 和 Virtual / Holoworld 的积分制度的本质是相似的，通过刷积分获得新项目的参与权利而且 ICM CCM 的潜力始终没有被完全开发，因为针对互联网资本化或者说股权代币化映射的模式在以往是没有做好的，并且这些项目的可持续性都存在巨大问题，在激励方面做得很差。但我看到 @HoloworldAI 最近在做这 ...