Core Viewpoint - The "Leopard Number" RMB, characterized by its unique serial numbers with three or more identical digits, has become a highly sought-after collectible in China's modern currency collection market due to its rarity and cultural significance [1]. Group 1: Advanced Anti-Counterfeiting Technology - The fifth series of RMB features advanced anti-counterfeiting technologies, achieving international leading standards [2]. - The 20 yuan note includes fixed floral watermarks, security threads, and hidden denomination numbers, with microprinting introduced for the first time [4]. - The 50 yuan note features a color-shifting number "50" that presents a green-blue gradient effect from different angles, along with intaglio printing for tactile differentiation [4]. - The 100 yuan note, being the highest denomination, incorporates the most comprehensive anti-counterfeiting features, including a color-shifting hollow window security thread and portrait watermark [4]. Group 2: Scarcity of Special Numbers - Each RMB has a unique serial number, with "Leopard Numbers" (e.g., "111", "666", "888") being extremely rare, particularly auspicious numbers like "888" and "999" that are highly sought after in the market [4]. - The selected Leopard Number banknotes in this collection have been authenticated by professional grading institutions, ensuring perfect condition (e.g., PMG 67 EPQ or above) and vacuum-sealed to prevent oxidation and wear [4]. Group 3: Cultural Significance of Numbers - The popularity of Leopard Number RMB is closely tied to the reverence for numbers in Chinese traditional culture [6]. - The number "6" symbolizes smoothness and prosperity, while "8" represents wealth and fortune, making "888" one of the most favored auspicious numbers [9]. - The number "9" signifies longevity and supremacy, with "999" often used for high-end gifts and collectibles [9]. - In traditional Chinese culture, numbers carry deeper meanings and aspirations for a better life, leading to strong market demand for Leopard Number RMB for gifting, investment, and auspicious purposes [9]. Group 4: Historical Context and Evolution - The fifth series of RMB, launched in 1999, marks a significant milestone in China's currency development history [11]. - This series was introduced during a period of rapid economic growth in China, featuring modern designs and significantly improved anti-counterfeiting technologies [14]. - The 20 yuan note, first issued in 2000, filled a market gap, while the 50 and 100 yuan notes serve high-value transaction functions, with Leopard Numbers being extremely scarce [14]. - The evolution of the series includes various versions, with the 1999 edition having simpler anti-counterfeiting features, while later versions (2005, 2015, and 2019) introduced enhanced security measures [14]. Group 5: Market Performance and Investment Potential - The scarcity of Leopard Numbers directly influences their value, with the probability of their occurrence being only 0.1%, making numbers like "888" and "999" even rarer [17]. - As circulation diminishes and banks withdraw old notes, the number of uncirculated Leopard Number banknotes decreases annually, further driving up their prices [17]. - Recent market trends show that complete sets of 20, 50, and 100 yuan Leopard Numbers (e.g., "666", "888", "999") command higher premiums due to the difficulty of matching numbers [17]. - The long-term appreciation potential of Leopard Numbers is significant, especially as the fifth series gradually exits circulation, enhancing their collectible value [17]. - Leopard Numbers have historically been considered hard currency in the numismatic market, demonstrating strong resilience and suitability for long-term collection [17]. Group 6: Unique Appeal of the Collection - The "Auspicious Three Leopard National Banknote" set not only represents high-quality RMB collectibles but also embodies auspicious meanings from traditional Chinese culture, merging digital art with currency collection [18]. - Its scarcity, anti-counterfeiting craftsmanship, and market performance make it a solid choice for investment [18]. - This collection is appealing for personal collection, high-end gifting, and long-term investment due to its unique charm and potential [18].

Tencent (00700) Q1 2025 Earnings Call May 14, 2025 08:00 AM ET Speaker0 Good day, and good evening. Thank you for standing by. Welcome to Tencent Holdings Limited twenty twenty five first quarter announcement webinar. I'm Wendy Huang from Tencent IR team. At this time, all participants are in a listen only mode. After management's presentation, there will be a question and answer session. For participants who dial in by phone, if you wish to ask a question, please press 5 on your telephone to raise your han ...