Group 1 - The company, JF SmartTrade, has entered into a share subscription agreement with EXIO Group Limited to acquire shares, aiming to enhance its digital asset business and overseas strategic development [1] - The investment in EX.IO is aligned with the company's overall strategic planning and funding purposes, focusing on building a core component of its overseas digital asset business [1] - The partnership with EX.IO is expected to leverage its exchange resources and Web3 technology advantages, accelerating the company's overseas digital asset market expansion and enhancing on-chain financial service capabilities [1] Group 2 - The global digital asset industry is accelerating its globalization process, with Hong Kong serving as an international financial center that offers a high-standard compliance regulatory framework for digital assets [2] - EXIO Limited, a subsidiary of EX.IO, holds a virtual asset trading platform operating license issued by the Hong Kong Securities and Futures Commission, providing a rare compliance guarantee [2] - The investment in a licensed digital asset exchange is anticipated to enhance the company's service capabilities in digital asset trading, asset management, and custody, facilitating compliant operations and a service closed loop [2] Group 3 - EX.IO possesses technical and service capabilities in blockchain and Web3 infrastructure, while the company has experience in developing smart investment advisory products for individual investors [3] - The collaboration aims to explore the deep integration of digital asset trading, asset management, and smart investment advisory services, promoting the innovative application of the "AI + research" strategy in digital asset scenarios [3] - The partnership is expected to assist in the development of digital asset advisory systems and algorithms, further enhancing the company's competitive advantage and service capabilities in the digital finance sector [3]

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之內容概不負責，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分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 JF SmartInvest Holdings Ltd 九方智投控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9636） 自願性公告 認購EXIO Group Limited股份 本公告乃由九方智投控股有限公司（「本公司」，連同其附屬公司，統稱「本集團」） 自願作出。本公告旨在知會本公司股東（「股東」）及潛在投資者有關本集團之股份 認購事項。 認購事項 本公司董事（「董事」）會（「董事會」）欣然宣布，於2025年9月23日，本公司全資 子公司JF SmartTrade (BVI) Limited（「JF SmartTrade」）與EXIO Group Limited （「EX.IO」或「目標公司」）訂立股份認購協議（「股份認購協議」），據此，JF SmartTrade同意認購EX.IO股份（「認購事項」）。 (2) 發揮業務協同效應，打造數字資產生態 雙方將共同把握香港數字資產市場的政策機 ...

Group 1 - The establishment of the ETHK building marks a significant milestone for the company, representing the physical realization of its ETHK blockchain financial ecosystem strategy and positioning Nanjing as a global hub for Real World Asset (RWA) technology [1][4][14] - The RWA sector is transitioning from concept validation to large-scale application, with a projected total value locked (TVL) of $12.5 billion by June 2025, reflecting a 124% increase from 2024 [4] - The ETHK building will serve as a core base for RWA digital technology research and ecosystem empowerment, housing over 5,000 technical experts and various research facilities [7][14] Group 2 - The company has signed strategic cooperation agreements with four enterprises, including a $1.5 billion RWA tokenization deal with Chuangsheng Group, integrating six core innovative drug pipeline assets into its U.S. entity [8][13] - The partnerships aim to create a comprehensive ecosystem from biopharmaceutical innovation to legal compliance, enhancing the efficiency of asset value discovery and circulation through digitalization [13][14] - The company's "so-in-so" model aims to build a top-tier global trading ecosystem for RWA across multiple industries, providing a one-stop solution for asset digital transformation [13][14] Group 3 - The launch of the ETHK building and the strategic partnerships signify the company's transition into a scalable phase of its ETHK blockchain financial ecosystem strategy [14][15] - The RWA tokenization path chosen by the company is seen as forward-looking, with predictions estimating the global RWA market to reach $16.1 trillion by 2030, accounting for 10% of global GDP [15] - The company's "altruistic" approach allows partners to optimize their asset structures and innovate financing models, facilitating the development of cutting-edge therapies and improving patient accessibility [15][16]

Group 1: Federal Reserve and Interest Rates - The Federal Reserve has lowered the federal funds rate ceiling by 25 basis points to 4.25%, aligning with market expectations, down from 4.50% [1] - Most officials anticipate at least three more rate cuts by the end of the year, with only one member advocating for a 50 basis point cut [1] Group 2: Virtual Currency and Legal Developments - Shanghai court successfully disposed of over 90,000 FIL coins in a criminal case, marking the first successful handling of virtual currency in a criminal asset execution case [1] - The disposal process involved a "domestic entrustment, overseas disposal, closed-loop return" model, ensuring compliance with foreign exchange management procedures [1] Group 3: Digital Assets and Regulatory Frameworks - Hong Kong's 2025 Policy Address includes initiatives to promote tokenized deposits and asset trading, as well as the establishment of a regulatory framework for stablecoin issuers [2] - The UK and US are enhancing cooperation on crypto asset regulation, focusing on stablecoins and digital securities sandboxes to facilitate market access for UK firms [4] - The UK's FCA plans to exempt certain traditional financial rules for crypto companies to better regulate the industry, adapting to the high volatility of crypto assets [5] Group 4: Blockchain and AI Initiatives - The UNDP is launching a "Government Blockchain Academy" in collaboration with Exponential Science Foundation to provide education on blockchain and AI for government departments [3] - Ethereum founder Vitalik Buterin announced a roadmap focusing on increasing Ethereum's mainnet gas limits and enhancing privacy features for various applications [6][7] Group 5: Industry Challenges and Market Dynamics - Standard Chartered warns of a market collapse in digital asset treasury (DAT) companies, with many facing valuation crises and smaller firms potentially entering a "death spiral" [9] - Larger, low-cost DAT companies are expected to gain an advantage, with potential acquisitions of struggling peers to maintain expansion [9] Group 6: Funding Events - Brera is rebranding to Solmate and has completed a $300 million PIPE financing with support from the Solana Foundation [10] - GRVT has raised $19 million in Series A funding led by ZKsync and Further Ventures [10] - Kredete has announced a $22 million Series A funding round [10]

以下文章来源于邱处机 ，作者邱鑫浩 邱处机 . 专门研究商业牛人 作者：邱鑫浩 来源：邱处机 2009 年初夏，马云和虞锋在西湖上泛舟。两位早已相识于长江商学院首期 CEO 班的商业精英， 在那次惬意的游船中达成了合作共识。 ---------------------------------- 一年后的 2010 年 4 月，云锋基金正式诞生。 这个名字取自马云和虞锋的私募基金，从诞生伊始就带着耀眼的光环。其发起人阵容，还囊括了巨 人网络史玉柱、新希望刘永好、银泰投资沈国军、分众传媒江南春、迈瑞医疗徐航等中国商界顶尖 领袖。 十五年后， 这位马云背后的"神队友"虞锋，再次引领云锋系卷土重来 。 2025 年 9 月，云锋金融一举拿下香港虚拟资产交易牌照，斥资 4400 万美元购买 1 万枚以太 坊，更招揽了梁信军、卢敏放等重量级人物加入。 沉寂三年，虞锋又想要大干一场。 01 豪华开局 云锋基金的起步堪称私募行业的奇迹。新奥能源创始人王玉锁曾在基金成立发布会上高呼：" 马云 + 虞锋 > 索罗斯！ " 此言并非全无根据。云锋基金一期和二期分别募集资金 100 亿元和 60 亿元人民币，如今管理资 本规模已超过 ...

Group 1: Market Volatility and Company Performance - The stock price of药捷安康 experienced extreme volatility, soaring by 63% to 679.5 HKD before plummeting to 192 HKD, resulting in a single-day drop of 53.7% [1] - The company's market capitalization evaporated by over 190 billion HKD in one day, raising concerns about the sustainability of such rapid price movements [1] - Following its listing in June, the stock price had previously surged over 50 times, indicating a highly speculative environment [1] Group 2: ETF Market Dynamics - The inclusion of药捷安康 in the Hong Kong Stock Connect Innovation Drug Index led to passive buying effects from ETFs, which are now being criticized for their decision-making regarding emerging companies [1] - Investors faced significant losses, with a potential loss exceeding 240,000 HKD for those who bought at the peak [1] Group 3: Digital Asset Regulation in the U.S. - The SEC's approval of rule changes for national securities exchanges lowers the application threshold for digital currency ETFs, enhancing opportunities for products like Solana and XRP [2] - The new regulations establish a unified listing standard and reduce the approval time from 240 days to a maximum of 75 days, injecting vitality into the digital asset market [2] - The approval of the Rex-Osprey Dogecoin ETF marks a significant regulatory relaxation in the U.S. market [2] Group 4: Robotics Industry Investment - The Ministry of Science and Technology is promoting the application of humanoid robots across various industries, potentially creating a trillion-dollar market opportunity [3] - The Robot ETF (易方达, 159530) has seen a net subscription of over 360 million shares, reflecting strong market interest in the robotics sector [3] - The product has recorded net inflows for eight consecutive days, totaling over 3.7 billion HKD, reaching a historical high of 11.3 billion HKD [3]

Group 1 - The company announced a strategic partnership with New Fire Technology Holdings Limited to explore Web3 ecosystem business opportunities within a compliance framework [1][2] - New Fire Technology will provide the company with digital asset compliance management plans and Web3-related technical solutions [1] - New Fire Technology is listed on the Hong Kong Stock Exchange and specializes in technology solutions and services within the virtual asset ecosystem, including asset management and cryptocurrency trading [1] Group 2 - The board believes that this strategic cooperation will significantly support the implementation of the company's Web3 strategic transformation [2] - New Fire Technology's technical strength and industry resources are expected to enhance the company's business development and positioning in the Web3 sector [2] - The company aims to leverage its extensive experience in the internet gaming industry and the new Web3 policies in Hong Kong to establish itself as a leading Web3 gaming ecosystem company [2]

在美元面临多重压力、全球储备货币地位受到挑战的关键时刻，特朗普儿子E日出Trump认为，可以通 过数字资产热潮重振美元霸权。 9月18日，据英国金融时报消息，Eric Trump日前表示，数字资产热潮将把"来自世界各地疲软货币的数 万亿资金"引向美国。 这一表态正值美元今年大幅下跌之际，特朗普的贸易政策和对美联储的反复抨击动摇了投资者对这一全 球储备货币的信心。 值得注意的是，Eric Trump的观点与其父亲的政策方向相呼应。特朗普已承诺让美国成为世界"数字资 产之都"，并推行宽松监管环境，推动比特币等加密货币创下历史新高。 数字资产作为美元支撑论 Eric Trump详细阐述了数字资产如何支撑美元地位的逻辑。 他表示，在美国进行比特币挖矿，并由此实现金融独立和发起一场"发源于美国的金融革命"，这些"可 以说能拯救美元"。 他的核心逻辑是，一个对数字资产友好的美国将成为全球资本的避风港。当投资者寻求将资金从"不稳 定的货币"中转移出来时，美国的加密市场将提供一个有吸引力的选择，从而间接支撑对美元计价资产 的需求。 Eric Trump去年联合创立了World Liberty Financial Inc（WL ...

Group 1: Federal Reserve and Economic Policy - The Federal Reserve announced a 25 basis point rate cut, lowering the target range from 4.25%-4.5% to 4.00%-4.25%, marking the first rate cut of the year after a total reduction of 125 basis points since last September [2][3] - The Fed's statement highlighted a slowdown in job growth and a slight increase in the unemployment rate, indicating a cautious approach to future rate cuts amid rising inflation [2][3] - Fed Chair Powell faces a challenging decision between maintaining higher rates to curb inflation or cutting rates to support the job market, with the current economic indicators suggesting a need for preventive measures [2][3] Group 2: Immigration and Service Industry Growth - From January to August, the number of visa-free foreign entrants to China increased by 52.1% year-on-year, with a total of 15.89 million foreign visitors [4][5] - The Chinese government is optimizing visa policies to attract more foreign visitors, which is expected to stimulate consumption and boost the service industry [4][5] - The 2025 China Service Industry Top 500 report revealed a total revenue of 51.1 trillion yuan, with an average revenue per company exceeding 1 billion yuan, indicating strong growth in the service sector [6][7] Group 3: AI Chip Development - Huawei announced a three-year roadmap for its Ascend AI chip series, with plans to release four new chips between 2026 and 2028, emphasizing the use of self-developed high-bandwidth memory [8][9] - The development of AI chips is seen as a strategic move to reduce reliance on foreign technology, with other Chinese companies like Alibaba and Baidu also accelerating their AI chip research [8][9] - The DeepSeek team's research on a new language model was published in Nature, showcasing advancements in AI training methodologies and contributing to the global AI landscape [10][11] Group 4: International Market Expansion - Didi and Meituan are investing heavily in the Brazilian food delivery market, with Didi planning to invest 2 billion reais and Meituan committing 1 billion USD over five years [12][13] - The competitive landscape in Brazil's food delivery market is intensifying, with both companies facing challenges from local giants like iFood [12][13] - The entry of Chinese companies into the Brazilian market reflects a broader strategy to capture opportunities in Latin America, despite the challenges of local competition [12][13] Group 5: Digital Asset Regulation - The SEC has simplified the approval process for digital asset ETFs, reducing the timeline from 240 days to a maximum of 75 days, signaling a shift towards a more favorable regulatory environment for digital assets [14][15] - This regulatory change aims to promote innovation while maintaining oversight, as the U.S. seeks to catch up with other financial hubs that have embraced digital currencies [14][15] - The SEC's decision reflects a broader trend of increasing acceptance of digital assets within the U.S. financial system, potentially reshaping the competitive landscape for digital asset products [14][15]

监管套利窗口：政策红利的时效性分析 XBIT Wallet 9月18日讯，美联储时隔9个月首次降息25个基点，这一政策调整背后隐藏着深刻的市场逻 辑重构。降息决定公布后24小时内，数字资产市场暴涨800亿美元，但真正的变化并非短期价格波动， 而是机构资金配置策略的根本性转向。数字资产钱包作为这一转向的核心载体，正在经历从工具属性向 基础设施属性的关键跃迁。 利率传导的隐性逻辑：为什么机构突然需要数字资产钱包 美联储降息的表面逻辑是应对就业数据恶化——8月新增就业仅2.2万人，失业率攀升至4.3%。但更深层 的含义在于，传统货币政策工具在面对结构性经济问题时的局限性日益暴露。当实体经济增长乏力而通 胀仍处高位时，降息实际上是在强迫资本寻找新的价值洼地。 据XBIT Wallet报道，降息决定公布后出现的机构行为模式值得深度解读。某OTC交易商在消息公布后 90分钟内动用1.12亿美元购入2.5万枚ETH，这种反应速度表明该笔交易早有预案。另一机构通过 Wintermute购入1.8万枚ETH，总价值8,077万美元，24小时内浮盈200万美元。这些并非投机行为，而是 基于利率环境变化的战略性资产重配。 关键问题 ...