Core Viewpoint - The company has approved the purchase of ETH as a reserve asset, reflecting its strategic positioning in the Web3 sector and enhancing its financial and technological integration [1] Group 1: Investment Details - The company has purchased a total of 10,000 ETH in the open market, with a total investment cost of 44 million USD, including fees and expenses [1] - The funding for this purchase comes from the company's internal cash reserves, and the acquired ETH will be classified as investment assets in the financial statements [1] Group 2: Strategic Implications - The board believes that incorporating ETH into the company's strategic reserve aligns with its initiatives in cutting-edge fields like Web3 and will provide essential infrastructure support for the tokenization of real-world assets (RWA) [1] - This move is expected to drive technological innovation in the Web3 domain, enhancing customer experience and financial autonomy [1] Group 3: Future Exploration - The company plans to explore potential applications of ETH within its insurance business and innovative business scenarios that align with Web3 [1] - By utilizing ETH as a reserve asset, the company aims to optimize its asset structure and reduce reliance on traditional currencies [1]

Core Viewpoint - The company New City Development is accelerating its transformation by establishing a digital asset research institute and launching the "New Chain" business blueprint to integrate online digital assets with offline commercial operations [2][8]. Group 1: Digital Asset Initiatives - New City Development plans to establish a digital asset management company to promote the tokenization of quality IP resources and asset revenues [2]. - The company aims to issue NFT digital collectibles based on the unique IP of its shopping centers and explore RWA products based on asset revenues [5][6]. - The global RWA asset total is projected to reach $26.7 billion by August 2025, indicating rapid market growth [4]. Group 2: Policy and Market Context - The push into digital assets is supported by favorable policies from the central and local governments aimed at promoting the digital economy and consumption [3]. - Hong Kong is positioning itself as a global digital asset center, with recent policy declarations aimed at fostering innovation in this sector [3]. Group 3: Business Model Transformation - New City Development's business model transformation is closely linked to its performance and asset base, with a focus on enhancing cash flow through its shopping centers [6][7]. - The company anticipates that once all its shopping centers are operational, they could generate annual merchant sales of 150 billion yuan, contributing significantly to stable cash flow [7]. - The integration of NFT and RWA products is expected to unlock substantial potential value from traditional financial assets [7].

Group 1: Transaction Details - On September 1, 2025, Huajian Medical announced the acquisition of a 20.31% stake in Guofu Quantum for HKD 3.142 billion, becoming the controlling shareholder of the quantum technology company [1][2] - The acquisition involves the issuance of approximately 324 million shares at a price of about HKD 9.69 per share [2] Group 2: Strategic Synergy - The acquisition represents a strategic collaboration between Huajian Medical and Guofu Quantum, enhancing Huajian's capabilities in the digital asset and RWA sectors [6][7] - Huajian Medical aims to create a complete ecosystem for the tokenization of medical innovation assets and high-tech assets of publicly listed companies [8][9] Group 3: Market Context and Growth Potential - The RWA trading platform developed by Huajian Medical is designed to improve liquidity and reduce financing costs for high-value medical assets, which are characterized by long development cycles and low liquidity [9] - The total transaction amount for innovative drugs in China reached USD 60.8 billion in the first half of 2025, reflecting a 129% year-on-year increase, indicating growing recognition of Chinese innovative drug assets in the global market [9] Group 4: Policy Support - The strategic layout of Huajian Medical and Guofu Quantum aligns with national policy directions aimed at promoting the global market development of innovative drugs [10] - Recent regulatory advancements in Hong Kong regarding stablecoins and digital assets provide a favorable environment for the development of RWA business [10] Group 5: Challenges and Future Outlook - Despite the promising outlook for RWA, challenges such as liquidity issues and regulatory complexities remain [11] - The RWA industry is transitioning from concept validation to large-scale application, with a total locked value (TVL) reaching USD 12.5 billion as of June 2025, indicating significant growth potential [12]

Core Viewpoint - New City Development (1030.HK) announced a placement of 19.3461 million new shares, representing approximately 0.27% of the enlarged share capital, at a price of HKD 2.5845 per share, which is a premium of 4.21% over last Friday's closing price of HKD 2.48, raising approximately HKD 50 million, with a net amount of about HKD 49.4 million, all of which will be used for the company's strategic deployment in the Real World Asset (RWA) application field [1] Group 1 - The company plans to leverage its business expertise combined with RWA tokenization technology to accelerate its strategic deployment in the RWA application field [1] - The subscription will introduce a new strategic partner who has extensive experience in the digital asset field, particularly in RWA, which is expected to significantly reduce the risks and costs associated with independently exploring RWA applications [1] - This strategic partnership is anticipated to enhance the group's liquidity and financial condition, optimize the company's capital structure, and support its healthy and sustainable development [1]

Group 1 - The core point of the news is that Huajian Medical has acquired a 20.31% stake in Guofu Quantum for HKD 3.142 billion, becoming the controlling shareholder, which is a strategic move to build a global RWA tokenized digital trading platform [1][2][7] - The acquisition involves Huajian Medical's subsidiary issuing approximately 324 million shares at around HKD 9.69 per share to complete the purchase [2] - This acquisition is seen as a significant step for Huajian Medical, which has shifted from being a medical equipment distributor to actively pursuing blockchain strategies, including the establishment of the world's first RWA trading platform for innovative drug intellectual property [5][8] Group 2 - The strategic collaboration between Huajian Medical and Guofu Quantum is expected to create a complete ecosystem for the tokenization of medical innovation drug intellectual property and high-tech assets of publicly listed companies [8][9] - Guofu Quantum, holding multiple financial licenses, enhances Huajian Medical's capabilities in the digital asset and RWA sectors, while Huajian Medical provides financial support and resources from the medical industry [6][8] - The RWA trading platform developed by Huajian Medical aims to connect real-world assets with global capital, potentially positioning the company as a dominant player in the RWA sector, similar to Alibaba's role in connecting SMEs with global markets [9][10] Group 3 - The strategic initiatives align with national policies promoting the global market development of innovative drugs, supported by recent regulatory advancements in digital asset management in Hong Kong and the U.S. [10] - The RWA market is experiencing significant growth, with a total locked value (TVL) reaching USD 12.5 billion by mid-2025, indicating a strong upward trend in asset tokenization [12] - Despite the promising outlook, challenges such as liquidity issues and regulatory complexities remain critical factors for the RWA market's development [11]

Core Viewpoint - New City Development Holdings Limited has established a Digital Asset Research Institute to integrate online digital assets with offline physical businesses, aiming to drive business transformation and upgrade in response to national policy directions and the digital economy era [1][2]. Group 1: Establishment of Digital Asset Research Institute - The Digital Asset Research Institute was inaugurated on August 29, 2023, with the theme "Set Sail on a New Journey, Chain Towards the Future" [2]. - The institute is led by Executive Director and President Lv Xiaoping, with a high-level professional team including legal and blockchain experts [2][3]. - The institute aims to continuously research the digital asset market and policy changes to provide decision-making support for the company's digital business layout [2][3]. Group 2: Business Development Plans - New City Development plans to establish a Digital Asset Management Company to promote the tokenization of quality IP resources and asset revenues, focusing on three main business areas [3][4]. - The first area involves issuing NFT digital collectibles based on the unique IP of "Wuyue Plaza," which has a total asset value exceeding 120 billion RMB and has attracted over 17.6 billion visitors annually [3][4]. - The second area explores issuing RWA products based on the asset revenues of Wuyue Plaza, leveraging the Hong Kong government's supportive policies for digital assets [4][5]. - The third area focuses on issuing RWA products based on the financial asset rights of the listed company, aiming to broaden financing channels and support business transformation [4][5]. Group 3: Offline Business Strategy - The company plans to enhance its offline business through "self-operated incubation" and "national agency" models, creating proprietary brands and acting as agents for new brands entering Wuyue Plaza [5]. - The goal is to achieve an annual merchant sales volume of 150 billion RMB once all 200 Wuyue Plazas are operational, contributing 20% to the company's revenue [5]. - The establishment of the Digital Asset Research Institute marks the first step in the company's business transformation, with expectations of stable cash flow from both offline and digital asset initiatives [5][6]. Group 4: Future Outlook - The company aims to leverage the WEB 3.0 technology wave to fully explore the digital asset value of Wuyue Plaza's IP resources and asset revenues, creating a new business model that connects online digital assets with offline physical commerce [6].

Core Viewpoint - The establishment of the Digital Asset Research Institute by the company marks a strategic move to embrace the digital economy and transform its business model, aiming to integrate online digital assets with offline commercial activities [2][3][7] Group 1: Digital Asset Research Institute - The Digital Asset Research Institute is led by the company's Executive Director and President, with a team of experts from various fields to provide insights on digital asset market trends and policy changes [3][4] - The institute aims to develop a roadmap for the company's digital business and implement strategies for asset tokenization [3][5] Group 2: Business Transformation Initiatives - The company plans to establish a digital asset management company to promote the tokenization of its quality IP resources and asset revenues, focusing on three main business areas: NFT digital collectibles, RWA products based on asset revenues, and financial RWA products [4][5][6] - The company expects to complete the registration and platform construction for the digital asset management company by the end of 2025, with the first batch of NFT digital collectibles to be launched [5][6] Group 3: Offline Business Development - The company intends to enhance its offline business through self-operated incubation and national agency models, aiming to create proprietary brands and enhance the diversity of its offerings at the "Wuyue Plaza" [6] - The company projects that once all 200 Wuyue Plazas are operational, the annual merchant sales could reach 150 billion RMB, contributing significantly to the company's cash flow [6] Group 4: Future Outlook - The company aims to leverage the WEB 3.0 technology wave and capitalize on the policy opportunities in the digital asset sector to unlock the value of its IP resources and asset revenues [7]

经营业绩： 澜沧古茶(06911)发布中期业绩，收入1.2亿元 大型客户渠道仍持续增长 农业银行(01288)发布中期业绩 归母净利润1395.1亿元 同比增加2.66% 极兔速递-W(01519)公布中期业绩 经调整净利达1.56亿美元 同比增长147.1% 中银香港(02388)发布中期业绩 股东应占溢利221.2亿港元 同比增加10.54% 工商银行(01398)发布中期业绩，归母净利润1681.03亿元，同比下降1.4% 都市丽人(02298)发布中期业绩 股东应占溢利5779.6万元 毛利率维持稳定于约46.4% 心动公司(02400)发布中期业绩，股东应占溢利7.55亿元 同比增长268% 龙湖集团(00960)发布中期业绩，收入同比增长25.4%至587.5亿元，运营业务及服务业务核心溢利保持增 长 固生堂(02273)发布中期业绩 股东应占溢利1.52亿元 同比增加41.9% 汇量科技(01860)公布2025中期业绩：收入9.38亿美元，同比大增47% ，旗下Mintegral智能出价表现强劲 同道猎聘(06100)发布中期业绩 股东应占纯利8030万元 同比增长77.13% 累计注册企业用 ...

Core Viewpoint - New City Development Holdings Limited has established a Digital Asset Research Institute to integrate online digital assets with offline physical businesses, aiming to drive business transformation and upgrade [2][3] Group 1: Establishment of Digital Asset Research Institute - The Digital Asset Research Institute was launched on August 29, with the theme "Set Sail for a New Journey, Chain Towards the Future" [3] - The institute is led by Executive Director and President Lv Xiaoping, with a team of experts from various fields to provide strategic insights into the digital asset market [3][5] Group 2: Business Transformation Strategy - The company plans to create a Digital Asset Management Company to promote the tokenization of quality IP resources and asset revenues, focusing on three main business areas [3][5] - The first area involves issuing NFT digital collectibles based on the unique IP of Wu Yue Plaza, which has a presence in 141 cities and over 17.6 billion annual visitors [3][5] - The second area explores issuing RWA products based on the asset revenues of Wu Yue Plaza, which has a total asset value exceeding 120 billion RMB [5][6] - The third area aims to issue financial RWA products based on the company's listed financial assets, enhancing financing channels [6] Group 3: Offline Business Development - The company intends to establish self-operated and national agency models to incubate the content ecosystem of Wu Yue Plaza, enhancing brand control and diversity [6][7] - The goal is to achieve an annual merchant sales volume of 150 billion RMB once all 200 Wu Yue Plazas are operational, contributing 20% to the company's revenue [6][7] Group 4: Future Outlook - The establishment of the Digital Asset Research Institute marks the first step in the company's business transformation, with expectations of stable cash flow from both offline and digital asset initiatives [7] - The company aims to leverage WEB 3.0 technologies to unlock the potential value of digital assets, enhancing the synergy between online and offline businesses [7]

Core Viewpoint - New City Development Holdings Limited has established a Digital Asset Research Institute to integrate online digital assets with offline commercial activities, marking a strategic shift towards digital economy engagement [1][2] Group 1: Establishment of Digital Asset Research Institute - The Digital Asset Research Institute aims to provide decision-making support for the company's digital business layout and strategy formulation [2][3] - The institute is led by senior executives and includes a team of experts from various fields, enhancing its global perspective and professional capabilities [2][3] Group 2: Business Transformation and Growth Opportunities - New City Development plans to establish a digital asset management company to promote the tokenization of quality IP resources and asset revenues, focusing on three main business areas [2][3] - The first area involves issuing NFT digital collectibles based on the unique IP of its shopping centers, with over 17.6 billion annual visitors and 50 million members [2][3] - The second area explores the issuance of RWA products based on the asset revenues of its shopping centers, with total asset value exceeding 120 billion RMB [3][4] Group 3: Financial Innovations and Market Strategies - The third area focuses on issuing financial RWA products based on the company's listed financial assets, aiming to broaden financing channels and support business transformation [4][5] - The company anticipates that once all 200 shopping centers are operational, annual merchant sales could reach 150 billion RMB, contributing significantly to stable cash flow [5] Group 4: Future Outlook and Digital Economy Engagement - The establishment of the Digital Asset Research Institute signifies the company's first step towards business transformation, leveraging WEB 3.0 technologies to unlock the potential value of digital assets [5] - The company aims to create a seamless connection between online digital assets and offline commercial activities, enhancing the growth of the real economy and activating new momentum in the digital economy [5]