Group 1 - The core announcement is that Derlin Holdings (01709.HK) has initiated a Real World Asset (RWA) tokenization plan for its ONE Carmel project in the U.S., converting $40 million (approximately HKD 312 million) of equity into digital tokens via blockchain technology [1] - The ONE Carmel project is a luxury residential development located in Carmel Valley, Monterey County, California, covering 891 acres (approximately 3.6 square kilometers) and featuring 66 ultra-modern villas with high-end amenities [1] - The project is strategically located between San Francisco and Los Angeles, just 1.5 hours from Silicon Valley, enhancing its investment appeal [1] Group 2 - The announcement provides details on a previous transaction from September 16, where Derlin Holdings increased its stake in ONE Carmel, acquiring approximately 13.12% of the expanded B-class membership rights for about $10.32 million (approximately HKD 80.52 million) [2] - The market value of the ONE Carmel property is estimated to reach approximately $111.3 million by March 31, 2025, with a projected total value of $1 billion (approximately HKD 7.8 billion) upon completion [2] - The valuation was conducted by a chartered surveyor with over 27 years of global valuation experience, ensuring the professionalism and fairness of the assessment [2]