Group 1: Strategic Partnerships - In December 2024, GCL-Poly Energy Technology Co., Ltd. signed a strategic cooperation agreement with Ant Group in Suzhou, focusing on distributed photovoltaic power stations, energy storage stations, and comprehensive energy services [2] - The partnership aims to enhance the digitalization of the energy internet and significantly improve the liquidity of energy assets [2] Group 2: Real World Assets (RWA) Project - The RWA project involves approximately 82 MW of "Xinyangguang" household photovoltaic assets in Hubei and Hunan provinces, valued at around 200 million RMB, marking the world's first photovoltaic asset RWA [2] - This project is the largest in terms of value in China and is expected to yield stable returns [2] Group 3: Market Impact and Advantages - RWA provides a decentralized market opportunity, facilitating efficient connections between domestic green assets and overseas funds, thus promoting sustainable economic development [2] - Compared to traditional investment methods like stocks and REITs, RWA offers lower volatility and is less affected by macroeconomic factors [2][3] Group 4: RWA vs. REITs - RWA has advantages over REITs, including: - Issuance efficiency through smart contracts, significantly reducing the issuance cycle compared to traditional REITs [3] - Greater asset adaptability, focusing on the credibility and stability of asset returns [3] - Cross-border capital connectivity, allowing global investors to access Chinese renewable energy assets [3] Group 5: Asset Monitoring and Market Competition - Project assets can be monitored in real-time on the blockchain, ensuring transparency and stability in energy generation [3] - The RWA market is still emerging in China, with significant activity in Hong Kong and Singapore, where various financial institutions are already involved in RWA issuance [3]

Core Viewpoint - The establishment of the "Trusted Blockchain Entity Asset On-Chain Technology Specification" marks a significant step in the tokenization of real-world assets (RWA), providing a systematic framework for data on-chain processes, particularly for physical assets like manufacturing and energy equipment [1] Group 1: RWA Technology and Implementation - RWA refers to the digital representation of asset rights stored, circulated, and traded on the blockchain, allowing physical assets to be divided into multiple "on-chain" digital assets, enhancing liquidity and reducing financing costs [1] - Ant Group's RWA asset on-chain technology has been applied in charging piles, photovoltaic, and battery swap assets, demonstrating its practical utility in the renewable energy sector [1] - In December, GCL-Poly Energy Holdings Limited completed an RWA project based on photovoltaic assets, involving over 200 million RMB, which connects domestic green assets with overseas funds and enhances the liquidity of photovoltaic assets [2] Group 2: Data Integrity and Verification - The specification emphasizes that asset yield data should be sourced directly from certified IoT devices to ensure authenticity, while operational data must be verifiable against IoT data to confirm its accuracy [2] - Data on-chain must meet criteria of completeness, validity, and timeliness, with IoT data reflecting device status and yield, and operational data accurately representing the asset's current state [3] - Devices must undergo certification and be assigned a unique identification mark to be registered as trusted devices before data can be uploaded to the blockchain [3]