（一）重要市场新闻 1、美股三大指数收盘涨跌不一，道指跌0.51%，纳指涨0.35%，标普500指数跌0.08%，热门科技股涨跌 不一，AMD涨超5%，苹果涨超3%，Meta跌超1%，英特尔跌近3%。赫克拉矿业涨超13%，泛美白银涨 超7%。纳斯达克中国金龙指数收涨0.95%，热门中概股多数上涨，名创优品涨超3%，小鹏汽车、理想 汽车、京东涨超1%，哔哩哔哩跌超1%。 点评：2025年有望成为人形机器人开启从0到1阶段的关键时点，尤其是随着宇树、智元等行业头部公司 加速推进零部件性能升级和成本降低，人形机器人产业发展趋势愈发明朗，2025年有望成为行业爆发起 点。具身智能作为人工智能的重要分支，正逐步走向产业应用，推动专用机器人向通用机器人发展。随 着AI大模型加速驱动及科技公司研发积极推动，具身智能市场规模加速打开。预计未来五年，具身智 能的市场规模将持续增长，有望在2026年突破万亿规模。概念股包括东土科技、汉宇集团、汉威科技 等。 3、8月7日，RWA注册登记平台正式在中国香港地区上线，由香港Web3.0标准化协会发起，将打通RWA 资产代币化的数据化、资产化和金融化全过程服务体系。另据报道，蚂蚁数科正 ...

Core Viewpoint - Ant Group's Ant Technology is expanding its Real World Asset (RWA) business beyond renewable energy to include computing power and financial assets, leveraging its established technology platform and ecosystem [1][3]. Group 1: RWA Business Expansion - Ant Technology's RWA business initially focused on renewable energy assets and is now exploring computing power and broader financial assets [1][3]. - The company has been recognized by the Hong Kong Monetary Authority's Ensemble sandbox for its RWA practices, marking a year of significant progress [3]. - Ant Technology is collaborating with over 20 enterprises and the China Academy of Information and Communications Technology to promote the "AntChain Inside" standard for asset tokenization [3][7]. Group 2: Technological Advancements - The company has developed a complete technological closed loop for digital assets, focusing on trustworthiness, efficiency, security, and compliance [4]. - Ant Technology's "AntChain Inside" utilizes a proprietary "blockchain + IoT" architecture to manage asset data throughout its lifecycle, linking over 15 million renewable energy devices [4]. - The "Two Chains and One Bridge" framework facilitates efficient connections between domestic assets and global capital, while the Layer 2 blockchain Jovay enhances RWA transaction throughput and reduces user response time to under one second [4]. Group 3: Cautious Asset Selection - Ant Technology is selectively expanding its RWA portfolio, emphasizing the importance of stability, legal clarity, and verifiable off-chain data for asset selection [6]. - The company has rejected numerous RWA requests in sectors like agriculture and fine art, focusing instead on areas with proven technological validation and scalability [6]. - The rise of AI and the digitalization of computing power align well with RWA requirements, making financial assets ideal candidates for tokenization [6]. Group 4: Compliance and Ecosystem Development - Ant Technology has established a comprehensive ecosystem for compliant asset issuance by collaborating with licensed institutions in Hong Kong [7]. - The company integrates various services, including securities trading, investment consulting, asset management, and digital asset custody, to facilitate the entire RWA process [7].

Group 1 - The State Council announced a policy to waive education fees for all kindergarten children in their final year, expected to benefit approximately 12 million people and reduce family expenses by 20 billion yuan this fall [2] - S&P maintained China's sovereign credit rating at "A+" with a stable outlook, reflecting confidence in China's economic resilience and debt management [2] - In July, China's total goods trade value reached 3.91 trillion yuan, a year-on-year increase of 6.7%, with exports growing by 8% and imports by 4.8% [2] Group 2 - The People's Bank of China will conduct a 700 billion yuan reverse repurchase operation with a three-month term, aiming to maintain liquidity in the market [4] - As of the end of July, China's foreign exchange reserves stood at 32,922 billion USD, a decrease of 25.2 billion USD from the end of June [4] - The Ministry of Justice, in collaboration with other agencies, issued a document to address issues related to enterprise fines, focusing on excessive penalties and improving regulatory practices [4] Group 3 - In late July, heavy rainfall in North and South China caused severe flooding and geological disasters, prompting the government to allocate 430 million yuan for disaster relief [5] - The China Logistics and Purchasing Federation reported that the road logistics price index in July was 105 points, a slight decrease of 0.05% month-on-month but an increase of 1.8% year-on-year [5] Group 4 - The A-share market experienced fluctuations, with the Shanghai Composite Index closing up 0.16% at 3,639.67 points, while the Shenzhen Component Index and the ChiNext Index fell [6] - The Hong Kong Hang Seng Index rose 0.69% to 25,081.63 points, marking four consecutive days of gains, with significant inflows into the property and materials sectors [6] - MSCI announced the addition of 42 stocks to the global index ACWI, while removing 56 stocks, with notable new entrants in the emerging markets index [6] Group 5 - The third company this year to apply for voluntary delisting is *ST Tianmao, as its controlling shareholder is planning a significant matter related to the company [7] - Huayan Robotics is reportedly seeking to raise over 200 million USD through an IPO in Hong Kong, focusing on high-end collaborative robots [7] Group 6 - The Ministry of Industry and Information Technology and other departments issued guidelines to promote innovation in the brain-computer interface industry, with specific goals set for 2027 and 2030 [10] - The 11th batch of national drug procurement has officially started, involving 55 varieties, with new options for reporting by brand [10] - In July, the average price of new residential buildings in 100 cities was 16,877 yuan per square meter, a month-on-month increase of 0.18% [10] Group 7 - The China Securities Association emphasized the need for self-regulation in the bond market, particularly regarding underwriting fees [21] - In July, the total bond financing in the real estate sector reached 71.39 billion yuan, a year-on-year increase of 90.3% [22] - U.S. Treasury yields rose collectively, influenced by policy expectations and positive economic data [22]

Overview - Sei Network is collateralized by assets from BlackRock, Hamilton Lane, and Apollo [1] - Elixir's fastUSD is a yield-bearing stablecoin [1] Real World Asset (RWA) - fastUSD brings native RWA exposure to Sei Network [1] - RWAs move faster on Sei Network [1]

看见 @plumenetwork 的创始人和核心团队都在发 September，不知道会发生什么 😂关注下看看有什么后续动态，我猜可能是跟 RWA 资产或者 WLFI 的积分计划有关？毕竟这条「在符合条件的平台上质押 1 美元以获取收益」还是挺符合的，Plume 早前也支持了 USD1Teddy (@teddyP_xyz):September ...

Group 1 - The Web3.0 future summit highlighted the significant potential of Web3.0 in driving innovation, industry transformation, and global capital integration, emphasizing the need for governance innovation and ecosystem collaboration to unlock structural benefits of the digital economy [1][2] - The Hong Kong government aims to establish the city as a leading global digital asset center, focusing on creating a controlled risk environment and a thriving market for substantial economic benefits [1][2] - Ant Group's vice president discussed the maturity of their RWA technology platform and ecosystem, indicating a cautious approach to asset integration while embracing the Hong Kong market's needs through open-source code and collaborative efforts [2] Group 2 - The RWA industry development report indicates that not all assets are suitable for RWA tokenization, highlighting three critical criteria for successful large-scale implementation: value stability, clear legal rights, and verifiable off-chain data [3]

RWA & Stablecoin - Elixir's fastUSD is a yield-bearing stablecoin providing native RWA exposure [1] - fastUSD is now live on Sei Network with native minting and redemption [1] - fastUSD is backed by RWAs via deUSD [1] - fastUSD is collateralized by assets from institutions including BlackRock, Hamilton Lane, and Apollo [1] Technology & Network - Sei Network is positioned as the fastest L1 for RWAs [1] - fastUSD is built to offer efficient, onchain access to RWAs [1]

Major Events - Silver Noble Pharmaceuticals-B (02591) is set to conduct an IPO from August 7 to August 12, with an expected listing date of August 15 [1] - Boan Biotechnology (06955) plans to place 48 million shares at a discount of approximately 8.78%, aiming to raise about HKD 780 million [1] - Derin Holdings (01709) intends to raise HKD 653.3 million, focusing on the development of blockchain, RWA, and virtual asset businesses [1] - Fuhong Hanlin (02696) received FDA approval to initiate a Phase 1 clinical trial for HLX43, a PD-L1 targeted antibody-drug conjugate for thymic cancer treatment [1] - China Biopharmaceuticals (01177) obtained NMPA approval for the Phase II clinical trial application of LM-24C5, a dual-target antibody [1] Financial Reports - China Mobile (00941) reported a mid-year profit attributable to shareholders of HKD 84.235 billion, a year-on-year increase of 5.03% [1] - Manulife Financial-S (00945) announced a core profit of CAD 1.7 billion for the second quarter [1] - Swire Properties (01972) reported a mid-year profit attributable to shareholders of HKD 4.42 billion, a year-on-year growth of 15% [1] - Hutchison Whampoa (00013) disclosed a mid-year net income of USD 455 million, a significant increase of 1663.32% year-on-year [1] - MGM China (02282) reported a mid-year net profit of HKD 2.383 billion, a year-on-year decrease of 11.25% [1] - SMIC (00981) announced a second-quarter profit of USD 132 million, with third-quarter revenue guidance indicating a sequential growth of 5% to 7% [1] - Zai Lab (09688) reported a 15.35% year-on-year increase in total revenue for the first half, reaching approximately USD 216 million [1] - Innovent Biologics (01801) achieved over RMB 5.2 billion in total product revenue for the first half, maintaining a strong growth rate of over 35% year-on-year [1] - Pacific Basin Shipping (02343) reported a mid-year profit attributable to shareholders of USD 25.6 million, a year-on-year decrease of 56% [1] - Lee & Man Paper Manufacturing (02314) announced a mid-year profit of HKD 811 million, a year-on-year increase of 0.7%, with an interim dividend of HKD 0.066 per share [1] - Swire Group reported a mid-year profit attributable to shareholders of HKD 815 million, a year-on-year decrease of 79% [1] - Lee & Man Chemical Company (00746) reported a 36% increase in profit to HKD 327 million, with an interim dividend of HKD 0.195 per share [1] - Hua Hong Semiconductor (01347) announced a second-quarter profit of USD 7.952 million, a year-on-year increase of 19.2% [1] - Wheelock Properties (01997) reported a mid-year loss attributable to shareholders of HKD 2.406 billion, a year-on-year increase of 128.71%, with the first interim dividend of HKD 0.066 per share [1] - Decon Agriculture (02419) issued a profit warning, expecting mid-term biological asset fair value adjustments to yield profits between RMB 1.1 billion and 1.4 billion [1] - Mongolian Mining (00975) issued a profit warning, anticipating a net loss of approximately USD 15 million to 25 million for the first half, marking a shift from profit to loss year-on-year [1] - Dongfeng Motor Group (00489) issued a profit warning, expecting a mid-term net profit decline of 90% to 95% [1]

Core Insights - Ant Group's subsidiary, Ant Financial Technology, has successfully developed its Real World Asset (RWA) business over the past year, particularly in the renewable energy sector, and is now exploring broader financial asset applications [1][5] - The Hong Kong Monetary Authority (HKMA) launched the Ensemble project sandbox in August 2024 to test blockchain-based financial market infrastructure, focusing on the interoperability of tokenized assets and wholesale Central Bank Digital Currency (wCBDC) [3] Group 1: RWA Business Development - Ant Financial Technology's RWA technology platform and ecosystem have matured, allowing for stable exploration of computing power and financial assets [1][5] - The company has linked over 15 million renewable energy devices, creating the largest on-chain renewable energy device network globally [5] - The "Two Chains and One Bridge" architecture facilitates efficient connections between domestic assets and global capital [5] Group 2: Technological Innovations - Ant Financial Technology has introduced the Layer 2 blockchain Jovay, which significantly enhances RWA transaction throughput and reduces user response time to under one second [5] - The company employs advanced technologies such as AI models, homomorphic encryption, and zero-knowledge proofs to ensure asset privacy and compliance [5] Group 3: Market Strategy and Compliance - Ant Financial Technology is committed to deepening its engagement with the Hong Kong market through open-source code, ecosystem collaboration, and partnerships with academic institutions [6][10] - The company has focused on specific asset types for RWA, avoiding sectors like agricultural products and fine art to ensure stability and legal clarity [8] - A comprehensive ecosystem for tokenized issuance has been established, connecting various financial services and regulatory compliance [10] Group 4: Industry Standards and Collaborations - Ant Financial Technology is collaborating with over 20 companies to establish technical standards for asset tokenization, which is anticipated to be released soon [10] - The company has signed agreements with the Hong Kong government and local universities to enhance its presence and capabilities in the region [10]

Core Viewpoint - Ant Group's subsidiary, Ant Technology, has made significant progress in Real World Asset (RWA) business development over the past year, particularly in the context of the Hong Kong Monetary Authority's Ensemble sandbox initiative [2][4]. Group 1: RWA Business Development - Ant Technology's RWA technology platform and business model have matured, leading to new explorations in computing power and broader financial assets [2][6]. - The company has linked over 15 million new energy devices, creating the world's largest on-chain new energy device network [6]. - The RWA platform utilizes a "two chains, one bridge" architecture to efficiently connect domestic assets with global capital [6]. Group 2: Technological Innovations - Ant Technology has introduced the Layer 2 blockchain Jovay, which significantly enhances RWA transaction throughput and reduces user response time to under one second [6]. - The company employs advanced technologies such as AI models, homomorphic encryption, and zero-knowledge proofs to ensure asset privacy and compliance [6]. Group 3: Market Engagement and Compliance - Ant Technology is actively engaging with the Hong Kong market through open-source code, ecosystem openness, tool sharing, and industry-academic collaboration [7]. - The company has established a comprehensive tokenization issuance ecosystem by collaborating with licensed institutions in Hong Kong, covering all aspects from securities trading to digital asset custody [11]. Group 4: Strategic Focus - Ant Technology has selectively pursued RWA projects, focusing on stable value assets with clear legal rights and verifiable off-chain data, while rejecting less stable asset classes [9]. - The company aims to set industry standards for asset tokenization, with a technical specification for on-chain asset standards expected to be released soon [11].