Core Insights - The company, Qianxun Technology (01640), announced the launch of its global digital currency financial service platform, PayKet, on December 19, 2025 [1] - The introduction of PayKet signifies the company's expansion into the digital currency financial services sector, building on its strategy of integrating AI technology, SaaS platforms, and supply chain solutions [1] - The platform aims to create a cross-border trade financial service ecosystem driven by both AI technology and Web3 trading platforms [1]

Group 1 - The core viewpoint of the article is that Qianxun Technology (01640) is launching a global digital currency financial service platform called PayKet on December 19, 2025, which is based on compliant stablecoins [1] - The launch of PayKet signifies the company's further expansion into the digital currency financial services sector, building on its strategy of integrating AI technology, SaaS platforms, and supply chain [1] - The aim of PayKet is to create a cross-border trade financial service ecosystem driven by both AI technology and a Web3 trading platform [1]

Core Viewpoint - Qianxun Technology (01640.HK) is set to launch a global digital currency financial service platform, PayKet, on December 19, 2025, which will leverage compliant stablecoins to enhance cross-border trade financial services [1] Group 1: Key Features and Services - Cross-border trade settlement: PayKet utilizes compliant stablecoins (USDT/USDC) to address issues such as long settlement periods, significant exchange rate risks, and high fees associated with traditional SWIFT systems, enabling instant fund transfers and significantly improving capital turnover efficiency [2] - Supply chain finance and digital currency wealth management: By integrating the company's self-developed IoT smart warehousing technology and AI pricing prediction models, PayKet offers new credit intermediary services, digitizing inventory and utilizing smart contracts to lower financing barriers and costs for enterprises; idle funds can also be managed on the platform through low-risk compliant digital currency wealth management [2] - Enterprise and consumer wallets: The PayKet system includes an enterprise wallet for B-end merchants and a consumer wallet currently under development for C-end users, along with the PayKetU card service, which connects to Visa/Master/UnionPay, facilitating online and offline consumption scenarios [2]

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分內容而產生或因依賴該等內 容而引致的任何損失承擔任何責任。 Qian Xun Technology Limited 千循科技有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1640） 自願性公告 業務最新發展 推出全球化數幣金融服務平台－「PayKet」 本公告乃由千循科技有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董事會」）自願作 出，旨在知會其股東和潛在投資者有關本集團的最新發展。 董事會欣然宣佈，本集團於2025年12月19日，正式推出以合規穩定幣為基石的全球化數幣金融服務 平台－PayKet。 PayKet (https://www.payket.com/ ) 的推出標誌著本集團在深化「AI技術+SaaS平台+供應鏈」戰略的基 礎上，進一步拓展至數幣金融服務領域，旨在構建AI技術與Web3交易平台雙輪驅動的跨境貿易金融 服務生態。 1. 核心功能與服務： • 跨境貿易結算：PayKet利用合規穩定幣(USDT/USDC)支付結算 ...

据交易所数据显示，12月16日，尚乘数科(HKD)开盘上涨2.22%，截至22:30，报1.38美元/股，成交1.41 万美元，总市值4.34亿美元。 财务数据显示，截至2023年10月31日，尚乘数科收入总额867.3万美元，同比减少37.69%；归母净利润 3194.0万美元，同比增长188.11%。 资料显示，尚乘数科公司于2019年9月12日在开曼群岛注册成立并注册为豁免有限责任公司。本公司通 过其子公司,主要参与提供数字金融服务和蛛网生态系统解决方案板块下的保险经纪服务和蛛网生态系 统解决方案服务,以及数字投资活动。该集团还投资于创新技术公司。 本文源自：市场资讯 作者：行情君 ...

Group 1 - The core viewpoint of the article highlights the rapid growth of Vietnam's digital economy, with a projected gross merchandise value (GMV) of $39 billion by the end of 2025, marking a 17% increase from the previous year, positioning Vietnam as the second fastest-growing digital economy in Southeast Asia, following Indonesia [1] - The report indicates strong growth in digital financial services (DFS), with digital payment transaction volume expected to reach $178 billion by 2025, reflecting a swift move towards cashless transactions across the country [1] - E-commerce remains a pillar of Vietnam's economy, accounting for two-thirds of the digital economy, with expectations to exceed $25 billion by 2025, also growing at a rate of 17% [1] Group 2 - Online media revenue, including digital advertising, video games, on-demand video, and online music, is projected to reach $6 billion by 2025, with a growth rate exceeding 16% [2] - The gaming industry continues to be a significant driver, with three Vietnamese game developers ranking among the top 15 globally in terms of download volume [2] - The online travel market in Vietnam is expected to reach $4 billion, growing by 16%, supported by relaxed visa policies and the return of tourists from Asia and Europe [2] Group 3 - Vietnamese citizens show a high acceptance of artificial intelligence (AI), ranking first in Southeast Asia in three key metrics: 81% interact with AI daily, 83% actively learn AI-related skills, and 96% are willing to share data access with AI agents [2] - Revenue from AI-integrated products has surged by 78% within a year, indicating rapid market absorption of new applications [2] - Vietnam has over 40 AI startups and attracted $123 million in private investment over the past year, which constitutes 5% of the country's total AI investment [2]

Core Insights - Mogo Inc. is a digital wealth and payments company set to release its Q3 2025 earnings report on November 7, 2025, and is recognized for its innovative approach in the fintech sector, particularly in digital payments and cryptocurrency [1] Financial Performance - Wall Street analysts project Mogo's earnings per share to be -$0.05, with estimated revenue around $16.08 million, indicating a year-over-year revenue decline [2][6] - Mogo's price-to-earnings (P/E) ratio is approximately 12.73, reflecting the market's valuation of its earnings [3][6] - The price-to-sales ratio is about 0.72, showing how much investors are willing to pay per dollar of sales [3] Valuation Metrics - The enterprise value to sales ratio is around 1.79, indicating Mogo's total valuation relative to its sales [4] - The enterprise value to operating cash flow ratio is approximately 35.11, providing insight into the company's cash flow efficiency [4] - Mogo's earnings yield stands at 7.85%, suggesting a return on investment relative to its share price [4] Financial Health - Mogo's financial leverage is indicated by a debt-to-equity ratio of about 1.02, suggesting a balanced approach to financing [5][6] - The current ratio is approximately 1.57, indicating Mogo's ability to cover short-term liabilities with its short-term assets [5][6]

Core Insights - The Bank of Ghana reported that mobile money (MoMo) transactions reached 354.1 billion Ghanaian Cedis in August, with transaction volumes increasing from 778 million in July to 831 million in August [1] - The number of registered accounts rose to 77.7 million, with active accounts reaching 25.1 million, indicating a significant expansion of digital financial services in Ghana [1] - Mobile money plays a crucial role in the Ghanaian economy by enhancing financial inclusion, creating job opportunities for agents, and facilitating secure cashless payments [1] Industry Impact - The growth in digital transactions has improved tax revenue, reduced cash handling risks, and expanded credit channels through mobile lending platforms [1] - The sustained growth momentum highlights mobile money's role as a pillar of Ghana's digital payment ecosystem, reflecting the strength of the payment system and the long-term goal of establishing a cashless economy [1]

Core Insights - The Southeast Asian e-commerce market is projected to reach $190 billion in 2024, growing to $268 billion by 2026, with a compound annual growth rate (CAGR) of 18.8%. This growth highlights the interplay between traditional platform operations and the emerging "entertainment shopping" model [2][5] - The top three platforms in the Southeast Asian market are expected to hold over 66% market share in 2024, indicating increasing market concentration [2][6] E-commerce vs. Entertainment Shopping - The e-commerce sector in Southeast Asia is experiencing robust growth, with a projected GMV of $190 billion in 2024, reflecting a 19% year-on-year increase. The market is expected to expand at a CAGR of 18.8%, surpassing $268 billion by 2026 [5][6] - Shopee, TikTok Shop (TTS), and Lazada dominate the market, collectively holding over 66% of the market share, up from 61% in 2023, and expected to reach 73% by 2026. Shopee leads with a 43% market share, focusing on localized operations and logistics, while TTS leverages "entertainment shopping" to drive user engagement [6][10] Logistics as a Competitive Advantage - Logistics is a critical component for e-commerce platforms, with Shopee utilizing its self-built logistics network (SPX) to achieve cost efficiency and operational advantages. This strategy helps to mitigate high logistics costs prevalent in Southeast Asia compared to China [12][16] - TTS relies heavily on third-party logistics (3PL) partners, particularly J&T Express, to maintain its logistics competitiveness. This partnership has evolved into a "quasi-first-party logistics" model, enhancing TTS's service offerings [19][20] Digital Financial Services Growth - The digital payment market in Southeast Asia is expected to grow at a CAGR of 12.1%, reaching over $1.4 trillion by 2026. The digital loan market is projected to grow at a CAGR of 24.7%, with loan balances nearing $110 billion by 2026 [50][52] - A significant portion of the population remains unbanked or underserved, representing a substantial growth opportunity for digital financial services. Approximately 62% of the population in Southeast Asia falls into this category, highlighting the potential for financial inclusion [54][55] On-Demand Services Market - The on-demand services market is forecasted to grow from $29.2 billion in 2024 to $37.2 billion by 2026, with a CAGR of 13%. Major players like Grab and Gojek are transitioning from high-end products to more accessible offerings, capturing over 70% of the market share [3][4] Ride-Hailing and Delivery Services - The ride-hailing market in Southeast Asia is projected to reach $9 billion in 2024, with Grab and Gojek leading the market. The market is expected to grow to $11.2 billion by 2026, reflecting an 11.6% CAGR [31][33] - The delivery market has seen rapid growth, expanding from $4.2 billion in 2019 to $19.3 billion in 2024, with a CAGR of 35.7%. Grab continues to solidify its market leadership, while smaller players face challenges [35][36] Online Grocery and Group Buying - The online grocery market is expected to grow significantly, from $2.9 billion in 2019 to $12.8 billion in 2024, with a CAGR of 34.6%. This growth is driven by the shift towards online shopping and the increasing demand for convenience [41][43] - Group buying services are emerging as a new trend, particularly in the food delivery sector, offering discounts for bulk orders and appealing to collective consumers [45][46]

Core Viewpoint - The company, 尚乘数科 (HKD), experienced a stock price increase of 6.29% on August 21, reaching $1.69 per share, with a total market capitalization of $531 million [1]. Financial Performance - As of October 31, 2023, the total revenue of 尚乘数科 was $8.673 million, representing a year-over-year decrease of 37.69% [1]. - The net profit attributable to shareholders was $31.94 million, showing a significant year-over-year increase of 188.11% [1]. Company Overview - 尚乘数科 was established on September 12, 2019, in the Cayman Islands as an exempted limited liability company [1]. - The company primarily engages in providing digital financial services and solutions under the spider web ecosystem, including insurance brokerage services and digital investment activities [1]. - Additionally, the group invests in innovative technology companies [1].