格隆汇8月10日丨华检医疗(01931.HK)公告宣布，正式启动「具备下行保护机制的全球增强版以太坊 (ETH)金库」战略，并公布首批定投已以每枚3661美元均价买入5190枚ETH。 这种创新性的设计，使得Web2投资者能够在无惧市场波动的情况下，捕捉Web3链上金融红利，为传统 金融机构与数字资产之间搭建了一座稳健的桥梁。 这一战略的独特之处在于多层次"下行保护机制"。在市场波动加剧的背景下，该机制通过多元化的风险 对冲手段，确保股东、RWA持有人及潜在投资者的利益安全。同时，通过多层次"增强策略"实现以太币 (ETH)资产由"被动囤币"向"主动生息、再投资、再扩张"的质变。 该战略以两大核心框架为支撑：一是建立以太币(ETH)储备金库，采取定投式策略持续增持以太币 (ETH)，目标成为全球最大以太坊金库上市主体；二是打造以太币(ETH)创造引擎(ivd.xyz交易所)，通 过"创新药IP收购—RWA代币化—生态收益ETH化—金库储备增强"的闭环模式，实现资产的良性循环与 增值。 ...

Core Viewpoint - Huajian Medical is strategically transitioning from a traditional medical leader to a Web3 financial hub by launching the "Global Enhanced Ethereum Vault" strategy, which involves significant investments in Ethereum (ETH) as a core reserve asset [5][11]. Group 1: Strategic Initiatives - Huajian Medical has initiated a dual-track business model focusing on Ethereum (ETH) reserves and a tokenization engine for medical innovation intellectual property [5]. - The company has partnered with HashKey Group to facilitate large-scale Ethereum (ETH) transactions and explore the integration of crypto assets with real-world assets, particularly in medical innovation [6][7]. - The first purchase of 5,190 Ethereum (ETH) at a price of $3,661 per unit has resulted in a significant unrealized gain, with plans to invest an additional HKD 880 million to become a leading Ethereum reserve holder [8] [20]. Group 2: Market Context and Investment Rationale - Ethereum (ETH) is increasingly viewed as "digital oil" by Wall Street, with significant institutional interest driving its price upward, reaching $4,008.96 on August 8, 2025 [11][12]. - The demand for Ethereum (ETH) is reflected in the rapid accumulation by global companies, with 59 firms holding a total of 1.97 million ETH, representing 1.44% of the circulating supply [12]. - The investment value of Ethereum (ETH) is bolstered by its role as a leading financial infrastructure and its deflationary characteristics post-EIP-1559 upgrade, which has reduced the supply growth rate [13]. Group 3: Risk Mitigation and Value Creation - Huajian Medical has established a seven-layer down protection mechanism to safeguard shareholder interests and mitigate risks associated with Ethereum (ETH) price volatility [15]. - The company employs a three-layer enhancement engine to optimize the returns on its Ethereum vault, focusing on yield generation and capital efficiency [16]. - The strategic framework aims to create a win-win network among researchers, investors, and patients, significantly reducing the time and cost associated with bringing innovative drugs to market [23]. Group 4: Valuation Potential - Huajian Medical's valuation strategy is compared to MicroStrategy and Metaplanet, which have successfully leveraged cryptocurrency investments to enhance their market capitalization [18]. - The company's market capitalization has already surpassed HKD 12 billion, with expectations to exceed HKD 100 billion as the Ethereum vault strategy unfolds [20]. - The performance of Bitmine Immersion Technologies (BMNR), as a leading Ethereum vault holder, serves as a benchmark for Huajian Medical's potential market growth [22].