Core Points - The company announced a cooperation framework agreement with Guangdong Tianyi Ma Digital Energy Co., Nano Labs Ltd, and Spectra Digital Technology Group to create a Real World Asset (RWA) ecosystem focused on tokenizing high-quality photovoltaic new energy assets [1][2] - The framework agreement aims to integrate core capabilities in new energy technology, digital finance technology, and asset management to develop the RWA ecosystem [1] - The company will support the issuance of new energy asset RWAs, while Spectra Digital will take on core compliance responsibilities and coordinate resources to ensure orderly project execution [1] Strategic Alignment - The signing of the framework agreement aligns with the company's strategic plan to enter the RWA sector [2] - Through collaboration with partners, the company aims to enhance its expertise and project execution efficiency in the RWA field [2] - The board believes that potential cooperation will accelerate the company's participation in the digital asset and Web3 industries [2]

Core Viewpoint - The company has entered into a framework agreement to create a Real World Asset (RWA) ecosystem focused on tokenizing high-quality photovoltaic renewable energy assets [1][2] Group 1: Framework Agreement Details - The framework agreement involves collaboration between the company, Guangdong Tianyi Digital Energy Co., Ltd., Nano Labs Ltd., and Spectrum Digital Technology Group [1] - The main responsibilities of the company include providing support for the issuance of renewable energy asset RWAs [1] - Spectrum Digital will take on core compliance responsibilities for potential RWA projects, coordinating resources and establishing financing structures [1] Group 2: Strategic Implications - The signing of the framework agreement aligns with the company's strategic plan to enter the RWA sector [2] - Through collaboration with partners, the company aims to enhance its expertise and project execution efficiency in the RWA field [2] - The board believes that potential cooperation will accelerate the company's participation in the digital asset and Web3 industries [2]

Group 1 - The "Hong Kong Stock Liquidity Global Digital Summit" was held in Hong Kong, focusing on topics such as the reshaping of stock liquidity, compliance with Real World Assets (RWA), and cross-border settlement efficiency [1][2] - The recent enactment of Hong Kong's Stablecoin Regulation is seen as a significant move that is expected to accelerate the integration of traditional enterprises with digital finance, enhancing Hong Kong's position as an international financial center and a digital finance hub [1] - The integration of decentralized and multi-centered mechanisms is identified as a key approach to overcoming the bottlenecks in cross-border liquidity for Hong Kong stocks, providing new pathways to enhance market vitality [1] Group 2 - The chairman of Deep Science Digital Investment Group emphasized that the construction of payment systems and financial technology infrastructure is crucial for connecting traditional financial markets with the Web 3.0 ecosystem, highlighting the need for a solid infrastructure foundation for efficient interconnectivity [2] - Participants discussed various topics including liquidity structure, compliance regulation, and asset pricing, with many expressing that Hong Kong is accelerating the improvement of digital financial infrastructure, and the combination of RWA and blockchain technology offers new ideas for enhancing capital efficiency [2]

消息面上，中国置业投资发布公告称，自2025年9月9日起，郑华江已获委任为公司属下子公司首席执行 官，就拟开展真实世界资产(RWA)及其相关业务(如有)、与集团现有业务之整合，以及业务发展方向之 可行性进行研究，以及对相关务业拓展及实行提供具体规划。公司探讨认为，近年巿场对区块链及 WEB3应用越趋成熟，真实世界资产更是巿场上一个其潜力之新板块。。因此，公司相信郑华江将可帮 助公司对此加深了解及协助集团于此板块的未来扩展(如有)。 中国置业投资(00736)涨近43%，截至发稿，涨42.86%，报0.8港元，成交额917.34万港元。 ...

Core Viewpoint - The company, Yuan Zheng Technology (02488), is strategically positioning itself to leverage its existing business and technology in the Real World Asset (RWA) sector, focusing on assetization of equipment and related RWA applications [1] Group 1: Business Strategy - The company plans to utilize its extensive experience in blockchain and automotive data, having filed over 300 blockchain-related patents and connected with over 390 million vehicles globally through automotive diagnostic equipment [1] - The strategy includes exploring the feasibility of RWA applications based on a selection of high-end product lines, such as PAD series automotive diagnostic devices, new energy vehicle maintenance equipment, ADAS calibration equipment, and four-wheel alignment equipment [1] Group 2: Development Initiatives - The company aims to establish technical solutions, hire additional R&D personnel, and collaborate with technology partners to develop and deploy a technical platform [1] - There is also a consideration to apply for relevant business pilot projects under compliance conditions [1]

Core Viewpoint - The company, Yuan Zheng Technology (02488.HK), is planning to leverage its existing business and technology in the Real World Asset (RWA) sector to promote assetization of equipment and related RWA applications [1] Group 1: Business Strategy - The company has a strong foundation in blockchain and automotive data, having applied for over 300 blockchain-related patents [1] - It has established connections with over 390 million vehicles globally through automotive diagnostic equipment [1] - The company aims to explore the feasibility of RWA applications based on a selection of high-end product series, including PAD series automotive diagnostic equipment, new energy vehicle maintenance equipment, ADAS calibration equipment, and four-wheel alignment equipment [1] Group 2: Development Plans - The company plans to develop technical solutions, hire additional R&D personnel, and collaborate with technology partners to create and deploy a technology platform [1] - It will consider applying for relevant business pilot projects under compliance requirements [1]

Group 1 - The core viewpoint of the announcement is that SenseTime-W (00020.HK) has successfully completed the subscription and placement agreements as of July 31, 2025, with all conditions met [1] - The company has subscribed for a total of 1,666,667,000 shares at a subscription price of HKD 1.50 per share, representing approximately 4.58% of the issued B shares and 4.50% of the total issued shares prior to completion [1] - After the issuance of the subscribed shares, the proportion of issued B shares will be approximately 4.38% and the total issued shares will be approximately 4.31% [1] Group 2 - The net proceeds from the subscription amount to approximately HKD 2,498 million, which the company plans to use primarily to support its core business development [2] - The funds will be allocated to building an industry-leading AI cloud, expanding the scale and scenario coverage of SenseTime's AI infrastructure, and supporting the research and development of generative AI [2] - The company aims to commercialize applications in vertical scenarios, explore technology integration in innovative vertical fields, and enhance risk control and settlement applications in digital finance using AI large models [2]

Group 1 - Hong Kong Stock Exchange is considering shortening the settlement cycle from "T+2" to "T+1" to enhance liquidity and accelerate capital turnover [1] - The U.S. House of Representatives passed a significant bill regulating "stablecoins," marking a step towards integrating digital assets into the mainstream financial system [2] - The Nasdaq China Golden Dragon Index rose by 1.2%, with notable gains in U.S. stocks, including Nvidia, which reached a market capitalization of over $4.2 trillion [3] Group 2 - BlackRock reported that over 20% of its clients are considering reducing exposure to the U.S. market and dollar assets, with a focus on Asian stock opportunities [4] - The Ministry of Finance in China adjusted the consumption tax policy for ultra-luxury cars, now applying to vehicles retailing at 900,000 yuan and above [5] Group 3 - Shanghai's brain-computer interface research achieved a breakthrough, allowing 10 subjects to communicate their thoughts through a computer interface, potentially benefiting patients with speech impairments [6] - Southern Power Grid reported a new peak load of 256 million kilowatts due to high temperatures, marking the second highest load this year [7] Group 4 - The price of silicon wafers has increased significantly, with N-type G10L single crystal silicon wafers rising by 22.09% to 1.05 yuan per piece [8][9] - Changjie Tong expects a profit of 31 to 37 million yuan for the first half of the year, with cloud subscription revenue projected to grow by over 10% [10] Group 5 - Yanzhou Coal Mining Company reported a coal production of 73.6 million tons in the first half of the year, a year-on-year increase of 6.54% [11] - Friendship Time anticipates a mid-term revenue growth of approximately 14.1% to 23.6%, with profits expected to increase significantly [12] Group 6 - Yuan Da Pharmaceutical's nasal spray product for treating dry eye syndrome has received approval for commercialization in mainland China [13] - The Chinese online literature market is projected to reach a revenue of 49.55 billion yuan in 2024, with a year-on-year growth of 29.37% [14] Group 7 - China Power plans to acquire a 31% stake in Tori Power for approximately 310 million yuan [15] - Baiyunshan's research on Ganoderma lucidum spore oil for treating lung nodules has been published in a prominent scientific journal [16] Group 8 - Tigermed plans to sell a 3.41% stake in Lixin Pharmaceutical for approximately 34.11 million USD [17][18] - Lens Technology is reportedly considering reviving its IPO plans in Hong Kong [19] Group 9 - Hengrui Medicine received approval for clinical trials for four new drugs, with significant investments in their development [20] - MicroPort Medical anticipates a net loss of no more than 125 million yuan for the first half of the year, with a revenue growth of 70% to 80% [21] Group 10 - Huajian Medical is launching a global exchange focused on high-tech medical innovation assets and a stablecoin plan [22] - GCL-Poly Energy has reached a strategic cooperation agreement with China Pacific Insurance Asset Management to explore tokenization solutions for real-world assets [23] Group 11 - Kingboard Laminates' major shareholder plans to place 78.5 million shares at a price of 10 HKD each [24][25] - October Rice anticipates a net profit growth of at least 90% for the first half of the year [26]

Group 1 - The company, Fourth Paradigm (06682), has entered into a subscription agreement with Infini Global Master Fund to issue a total of 25.9 million subscription shares at a price of HKD 50.50 per share, amounting to approximately HKD 1.308 billion [1][2] - The number of subscription shares represents about 8.78% of the total issued H shares and approximately 5.25% of the total issued shares as of the announcement date [1] - The subscription price of HKD 50.50 per share reflects an approximate discount of 8.93% compared to the closing price of HKD 55.45 on July 16, 2025 [1] Group 2 - The net proceeds from the subscription, after deducting placement agent fees and other related expenses, are estimated to be approximately HKD 1.306 billion [2] - The allocation of the net proceeds includes 50% for R&D investments in emerging fields such as embodied intelligence, smart devices, blockchain, real-world assets (RWA), and stablecoins; 40% for global business expansion and potential acquisitions in these emerging fields; and 10% for general corporate purposes [2] - The subscriber, managed by Infinity Capital Management Limited, is based in Hong Kong and Abu Dhabi, and is licensed by the Securities and Futures Commission and the Abu Dhabi Global Market Financial Services Regulatory Authority [2]

Group 1 - The company, Fourth Paradigm (06682.HK), announced a subscription agreement to issue a total of 25.9 million subscription shares at a price of HKD 50.50 per share, amounting to approximately HKD 1.308 billion [1] - The number of subscription shares represents about 8.78% of the existing H-shares and approximately 5.25% of the total issued shares as of the announcement date [1] - The net proceeds from the subscription are expected to be approximately HKD 1.306 billion, which will be allocated for various purposes including R&D investments in emerging fields and global business expansion [2] Group 2 - The subscription proceeds will be used as follows: 50% for R&D in areas such as embodied intelligence and blockchain, 40% for potential acquisitions in similar fields, and 10% for general corporate purposes [2] - The company believes that the subscription will enhance its financial position and broaden its shareholder base, promoting future growth and high-quality development [2]