Establishment of RWA Division, Exploration of Tokenization of Core Assets
Coolpad Group will pilot tokenization using two core assets: the Coolpad Building in Nanshan District, Shenzhen, and the Coolpad Technology Eco-Park in Songshan Lake, Dongguan. These assets, respectively, are a 5A Grade A office building and a high-standard industrial complex, both boasting prime locations and significant commercial potential and development value. As of December 31, 2024, the company's book value of investment properties was approximately HK$3.151 billion. However, its market value has long been below its book value of net assets, indicating that the value of its existing assets is not effectively reflected in the capital market. Reliable Asset Warrants (RWAs) are seen as a potential path to improving asset transparency and liquidity.
RWAs are a hot area in global fintech, aiming to digitize and programmably transform physical assets through blockchain technology, enabling tradability and cross-border liquidity. Coolpad's move aligns with the Hong Kong SAR Government's "Digital Asset Development Policy Statement 2.0," aiming to leverage Web 3.0 infrastructure to systematically reshape traditional asset valuation and operating models.
RWA technology promotes asset transparency and enhances liquidity
In recent years, RWAs have become a crucial bridge connecting traditional financial assets with blockchain technology. According to research from multiple international consulting firms, with the increasing maturity of blockchain infrastructure, the global RWA market is expected to expand rapidly in the coming years, encompassing multiple categories including real estate, debt, commodities, and art. Real estate, due to its stable returns and high assetization, has become a priority pilot area for RWA applications. As an international financial center, Hong Kong has actively promoted the legal development of digital assets in recent years. In particular, the "Digital Asset Development Policy Declaration 2.0," released in June 2025, encourages the development of tokenized projects backed by real value. Reliable Waivers (RWAs) are considered a policy-friendly direction for technological innovation. Coolpad Group's establishment of a dedicated business unit is a proactive response to this policy context, aiming to leverage Hong Kong's advantages in regulations, markets, and talent to unlock new opportunities for liquidity in traditional heavy assets. From an industry perspective, the promotion of RWAs has the potential to reshape the dynamics of asset management. On the one hand, asset tokenization can help break up large real estate assets into smaller, tradable shares, lowering barriers to entry and improving asset liquidity and valuation transparency. On the other hand, the combination of smart contracts and on-chain records can enhance efficiency and trust in cross-border financing, profit distribution, and asset ownership confirmation. For companies currently undervalued, RWAs are not only a digital tool but also a potential new path to revaluing their value and expanding financing boundaries.
Responding to Hong Kong's policies, promoting the tokenization of real estate assets
Coolpad is currently in the preliminary feasibility study phase, focusing on asset equity structure, technology compatibility, and legal compliance frameworks. The company stated that if the pilot project achieves substantial results, it will leverage Mr. Chen Jiajun's extensive experience in the real estate industry to promote more high-quality asset tokenization services, build an enterprise-level RWA service platform, and expand its business scope in the digital asset sector.
In the announcement, Coolpad Group reminded shareholders and potential investors to exercise caution when buying and selling the company's securities and pledged to continue disclosing relevant progress during the exploration process. Going forward, the company will promote the pilot implementation of RWA technology in real estate, industrial parks, and other fields through its own practices and collaboration with ecosystem partners, striving to create new value growth opportunities for the company.
