Core Viewpoint - The article discusses the rising trend of Real World Assets (RWA) tokenization in the Greater Bay Area, highlighting its potential benefits and challenges for companies seeking to leverage this new financing model [4][5]. Group 1: RWA Tokenization Overview - RWA refers to the tokenization of real-world assets into tradable digital asset certificates using blockchain technology, with over 13 institutions exploring this model in the past two years [4][7]. - Companies are increasingly interested in RWA not just for financing but also for brand exposure and potential stock price enhancement [4][13]. Group 2: Recent Developments and Case Studies - Since 2024, notable companies like Langxin Group and Huaxia Fund have successfully issued RWA projects, with underlying assets including funds, bonds, and real estate [7][8]. - The total market value of global on-chain RWA assets surpassed $25 billion by July 2025, with projections suggesting the market could exceed $10 trillion by 2030 [9]. Group 3: Challenges and Risks - The costs associated with issuing RWA projects in Hong Kong can be high, often exceeding HKD 2.5 million, which may deter some companies from pursuing this route [11][12]. - Not all assets are suitable for RWA; successful tokenization requires stable cash flows, clear legal rights, and verifiable off-chain data [18][19]. Group 4: Regulatory Environment - The regulatory landscape for RWA is still evolving, with a need for clear classification and compliance pathways based on asset characteristics [19][20]. - There are concerns about systemic risks if transparency and custodial measures are not adequately enforced [20][21]. Group 5: Future Prospects - RWA could provide a new avenue for Chinese companies to return to the Hong Kong market, offering a more flexible and faster alternative to traditional secondary listings [24][25]. - The development of RWA is expected to align with economic trends, with potential breakthroughs in cross-border financial products and limited trials for equity assets [25].

Group 1 - The core viewpoint of the article is that Ocean Group is considering a potential rights issue to raise funds for its AI and digital transformation strategy, aiming to capitalize on Web 4.0 opportunities [1][2] - The potential rights issue is expected to provide financial support for the company's strategic direction announced in August, which includes establishing a core digital asset pool and accelerating AI digital human technology development [1][2] - The company aims to leverage new funds and resources from the potential rights issue to strengthen its financial foundation and seize long-term opportunities in the trillion-dollar industries of education, gaming, and health [1][2] Group 2 - Ocean Group's chairperson, Ms. Shi Qi, emphasized the critical positive significance of the potential rights issue for the company's transition into the digital economy era, aligning with its previously announced transformation blueprint [2] - The company is undergoing a transformation process involving capital innovation, technological innovation, and business model innovation, which is expected to help capture opportunities in Web 4.0 and expand into new revenue sources [2] - Ocean Group, established in 1991 and listed in 2007, has a strong foundation in the silicone input device sector and is now pivoting towards becoming a leader in AI and RWA tokenization in the Asia-Pacific region [2]

Transcenta Holding Limited 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 創勝集團醫藥有限公司 （以存續方式於開曼群島註冊的有限公司） （股份代號：6628） 自願公告 有關與華檢醫療控股有限公司及其兩間子公司的戰略合作協議 探索首創真實世界資產代幣化潛在融資用於 創新腫瘤療法研發的業務進展 本公告由創勝集團醫藥有限公司（「本公司」）自願作出，旨在告知本公司股東及潛 在投資者有關最新業務進展。本公告所用但並無另行界定的詞彙應與本公司日期 為2021年9月14日的招股章程中所賦予該等詞彙的涵義相同。 本公司董事會（「董事會」）欣然公佈，於2025年9月21日，本公司及本公司全資子 公司Transcenta Oncology Inc.（「Transcenta Oncology」）已與華檢醫療控股有限 公司（香港聯合交易所有限公司主板上市公司，股份代號：1931）及其兩間子公司 ETHK Inc.及ETHK HOLDINGS L ...

回顾真实世界资产代币化发展之路，业界无不感叹今天的成就来之不易。在美国相关立法落地前，资产代币化可谓理想很 丰满，现实很骨感。数百个涉及房地产、股票和大宗商品上链的项目本以为能够永远改变金融世界，最终却以失败收场。 至2021年，90%以上的项目无法达到基本成交量。 发展缓慢，资产代币化却一朝薄发 南方财经 21世纪经济报道特约撰稿娄世艳王应贵 最近几个月，真实世界资产代币化一路高歌猛进，用了极短的时间取得了较长时间内难以获得的成就。据行业网站rwa.xyz 统计数据，截至今年9月12日，真实世界资产代币达292.7亿美元，资产持有者389136人，资产发行商211家，其中不乏著名 的资产管理机构，如贝莱德、富达资产等。从资产细分类别看，代币化资产包括私人信贷（167.2亿美元）、美国国债 （74.2亿美元）、大宗商品（20.1亿美元）、机构另类基金（包括私募股权、私募基金、房地产、自然资源、私人债券、基 础设施等,18.2亿美元）、股票（5.7亿美元）、非美国债（3.6亿美元）、公司债券（2.6亿美元）、积极管理型基金（0.9亿 美元）。 资产代币化发展过程虽多有曲折，但少数具有长远眼光的机构投资者并没有放 ...

Core Viewpoint - Lion Group Holdings (狮腾控股) is transitioning its stock holdings from Dahua Jixin (大华继显) to Citibank, with a market value of HKD 562 million, representing 6.77% of the total shares [1] Group 1: Business Development - On July 28, Lion Group Holdings announced the creation of a new flagship business unit, the Synagistics Digital Finance Group (SDFG), aimed at developing solutions for multi-currency, interoperable stablecoins, and tokenization of Real-World Assets (RWA) [1] - The SDFG intends to connect traditional financial systems with blockchain-based frameworks by providing compliant tokenization of real-world assets, including trade receivables, inventory, and future cash flows [1] - The tokenized assets will be paired with interoperable multi-currency stablecoins (such as HKD, offshore RMB, SGD, and other applicable fiat currencies) to achieve efficient, programmable settlements and enhance liquidity, facilitating seamless integration across decentralized financial systems [1]

Group 1 - The core point of the article is that Lion Group (02562) is transitioning its shares from Dahua Jixin (Hong Kong) to Citibank, with a market value of HKD 562 million, representing 6.77% of the total shares [1] - On July 28, Lion Group announced the creation of a new flagship business unit, Synagistics Digital Finance Group (SDFG), aimed at developing solutions for multi-currency, interoperable stablecoins, and tokenization of Real-World Assets (RWA) [1] - SDFG intends to connect traditional financial systems with blockchain-based frameworks by providing compliant tokenization of real-world assets, including trade receivables, inventory, and future cash flows [1] Group 2 - The tokenized assets will be paired with interoperable multi-currency stablecoins, such as Hong Kong dollars, offshore renminbi, Singapore dollars, and other applicable fiat currencies, to achieve efficient, programmable settlements and enhance liquidity [1] - The initiative aims to facilitate seamless connectivity between decentralized financial systems, promoting development and adoption across Asia once regulatory approvals are obtained [1]

Core Viewpoint - Lion Group (02562.HK) announced the creation of a new flagship business unit, the Synagistics Digital Finance Group (SDFG), aimed at developing multi-currency, interoperable stablecoin and real-world asset (RWA) tokenization solutions, facilitating growth and adoption across Asia upon obtaining regulatory approvals [1] Group 1 - The SDFG aims to connect traditional financial systems with blockchain-based frameworks by providing compliant tokenization of real-world assets, including trade receivables, inventory, and future cash flows [1] - The tokenized assets will be paired with interoperable multi-currency stablecoins, such as Hong Kong dollars, offshore renminbi, Singapore dollars, and other applicable fiat currencies, to achieve efficient, programmable settlements and enhance liquidity [1] - The initiative is designed to enable seamless interoperability between decentralized financial systems [1]

Core Viewpoint - The recent passage of two significant bills in the U.S. and Hong Kong has granted legal status to stablecoins, eliminating policy uncertainty and promoting their development, which is expected to invigorate the payment industry, digital asset sector, and the global financial system [1][2]. Regulatory Framework - Both bills clarify the positioning of stablecoins and regulate their activities, requiring a 1:1 backing with reserve assets limited to fiat or other low-risk, high-liquidity assets [2] - Interest payments on stablecoins are prohibited, reinforcing their payment attributes and distinguishing them from traditional investment products [2] - Issuers face stricter legal constraints, with only licensed entities allowed to operate stablecoin businesses in Hong Kong [2] - Regular disclosure of reserve asset reports and compliance with anti-money laundering regulations are mandated to enhance market transparency and protect investor rights [2] Impact on Payment Systems - Stablecoins are expected to reduce costs and improve efficiency in the global payment system, serving as an ideal payment tool for various transactions, especially cross-border and cryptocurrency transactions [3] - A report predicts that by 2030, the global supply of stablecoins could reach $3.7 trillion, with market capitalization growing from hundreds of billions to trillions of dollars, positioning stablecoins at the core of cross-border payments and digital asset transactions [3] Innovation in Digital Assets - Compliant stablecoins connect the real and virtual worlds, facilitating the flow of traditional capital into the Web3 space and enabling the tokenization of real-world assets (RWA) [4] - The RWA market is currently valued at $268.16 billion, with over 90% of this value attributed to stablecoins, indicating a significant role in attracting investors to the digital asset sector [4] Risks Associated with Stablecoins - The rapid development of stablecoins poses liquidity risks, as their stability relies heavily on the quality of reserve assets, which could lead to large-scale redemption crises if confidence wanes [5] - Technical risks are inherent due to the blockchain technology underpinning stablecoins, with historical incidents of hacks and system failures highlighting vulnerabilities [6] - Regulatory costs may rise significantly due to the lack of a unified global framework, creating opportunities for regulatory arbitrage and compliance challenges [7] - The widespread use of stablecoins could threaten the dominance of traditional banking by reducing commercial deposits and altering the payment landscape [7] Strategic Recommendations for China - China should leverage Hong Kong as a pilot for stablecoin development, attracting global compliant projects to enhance the internationalization of the Renminbi [9] - A robust risk management framework and legal regulations are essential to control the circulation of stablecoins domestically while ensuring sustainable development [9] - Structural reforms are necessary to restore global confidence in China's growth and to adapt to the evolving digital landscape, ultimately supporting the internationalization of the Renminbi [9]