On September 1, 2025, IVD MEDICAL (01931) announced the acquisition of a 20.31% stake in GOFINTECH QUANT (00290) for HK$3.142 billion, becoming the controlling shareholder of this quantum technology company that holds Hong Kong financial licenses 1, 4, 6, and 9. This transaction represents more than just a capital operation—it marks a crucial step in IVD MEDICAL's strategy to build a global RWA tokenization digital trading platform. Through this acquisition, IVD MEDICAL gains access to GOFINTECH QUANT's professional capabilities in digital assets and RWA, along with its financial licensing resources, injecting significant momentum into its RWA exchange ecosystem.

**I. Transaction Details: A HK$3.1 Billion Acquisition**

According to the purchase agreement, IVD MEDICAL's wholly-owned subsidiary will issue 324 million consideration shares at approximately HK$9.69 per share to acquire the 20.31% stake in GOFINTECH QUANT. Upon completion, IVD MEDICAL will hold 20.31% of GOFINTECH QUANT's shares, becoming its controlling shareholder.

This acquisition represents high strategic synergy between the two companies. Originally a medical testing equipment distribution company, IVD MEDICAL has shown active stock performance since July 2025, with cumulative gains of nearly 480% over two months and market capitalization reaching HK$16 billion at its peak. This transformation stems from the company's aggressive blockchain strategy, constructing the world's first innovative drug intellectual property RWA exchange, ivd.xyz. The platform adopts a "NewCo+RWA+Stablecoin" model, dedicated to tokenizing high-value medical assets (such as ADC drugs and gene therapy patents) to address liquidity shortages and long financing cycles in the healthcare industry.

In August, IVD MEDICAL further advanced its "Global Enhanced Ethereum (ETH) Treasury" strategy, partnering with HashKey Exchange to complete the first compliant purchase of HK$149 million worth of ETH, while seeking shareholder approval for a HK$3 billion ETH purchase authorization. The goal is to achieve leading positions in ETH reserves and ETH per share ratios in the Hong Kong stock market and globally.

GOFINTECH QUANT, as a cross-border technology innovation investment platform, not only holds multiple Hong Kong financial licenses but also possesses QFI, CIBM, and QDIE business qualifications, creating a "Technology Innovation + Finance + Arts + Trade" ecosystem loop. In recent years, the company has actively expanded into quantum technology and RWA sectors, strategically investing in Shenzhen Quantum Spin Technology, acquiring stakes in Huake Intelligent, and advancing multiple RWA-related collaborations and financing initiatives in 2025, strengthening its positioning in digital asset issuance, pre-RWA, and secondary market funds.

For IVD MEDICAL, this acquisition provides access to GOFINTECH QUANT's professional capabilities and resources in digital assets and RWA, injecting powerful momentum into its RWA exchange ecosystem.

**II. Strategic Synergy: Building the "BABA-W" of RWA**

The strategic significance of IVD MEDICAL's acquisition of GOFINTECH QUANT is evident. On one hand, IVD MEDICAL gains access to GOFINTECH QUANT's financial licensing resources and digital asset expertise; on the other hand, GOFINTECH QUANT receives capital support and medical industry resources from IVD MEDICAL. This synergistic effect helps both parties jointly create a complete ecosystem for medical innovative drug intellectual property tokenization and global listed company high-tech asset tokenization.

IVD MEDICAL's RWA exchange provides the technical platform and trading venue for asset tokenization, while GOFINTECH QUANT offers financial licensing resources, digital asset issuance and trading capabilities, and professional technical support in quantum technology. This combination resembles how BABA-W once connected countless small and medium enterprises with global markets. Through this acquisition and the creation of an RWA exchange, IVD MEDICAL aims to connect trillion-dollar real-world assets with global capital, potentially becoming the most dominant platform giant in this sector.

Medical innovative drug assets, characterized by high value, long R&D cycles, and poor liquidity, are ideally suited for RWA tokenization to enhance liquidity and reduce financing costs. According to a report, China's innovative drug transaction total in H1 2025 reached $60.8 billion, exceeding 2024's full-year total by $3.7 billion, representing 129% year-on-year growth. This indicates that domestic innovative drug enterprise assets are gaining widespread recognition in global markets, with China's position in the global innovative drug transaction market becoming increasingly prominent.

**III. Policy Tailwinds: Innovation Drug Overseas Expansion and Digital Asset Regulation in Harmony**

The strategic positioning of IVD MEDICAL and GOFINTECH QUANT aligns perfectly with national policy directions. The National Healthcare Security Administration and National Health Commission jointly issued "Several Measures to Support High-Quality Development of Innovative Drugs," explicitly proposing the goal of "promoting global market development of innovative drugs." The policy encourages building global innovative drug trading platforms and supports innovative drug companies in leveraging Hong Kong and Macau advantages to promote overseas expansion. This provides policy support for IVD MEDICAL's innovative drug trading platform.

Simultaneously, Hong Kong has made significant progress in digital asset regulation. On August 1, 2025, Hong Kong's "Stablecoin Ordinance" officially took effect, establishing a licensing system for fiat-backed stablecoin issuers. This ordinance provides clear regulatory basis for token issuance and trading in RWA business, further reducing compliance risks.

The United States has also taken important steps in digital asset regulation. On July 18, 2025, President Trump signed the "Guidance and Establishment of US Stablecoin National Innovation Act" (abbreviated as the "Genius Act"), marking the US's first formal establishment of a regulatory framework for digital stablecoins. These clarified regulatory policies provide institutional guarantees for RWA business development, creating favorable external environments for IVD MEDICAL and GOFINTECH QUANT's strategic positioning.

**IV. Challenges Remain: Liquidity and Regulation Are Key**

Despite broad prospects, RWA still faces challenges including liquidity constraints, regulatory complexity, and product mechanism defects. Non-financial asset tokenization suffers from insufficient order book depth and low liquidity. Regulatory-wise, whether assets qualify as securities varies across jurisdictions, with complex compliance processes. Additionally, existing tokenization products like xStocks experience price disconnections from real assets, with mechanisms still incomplete.

**V. Outlook: Bridge Connecting Traditional Finance and Web3**

Despite challenges, RWA development prospects remain broad. According to the "RWA Industry Development Research Report" published by the Hong Kong Web3.0 Standardization Association, the RWA industry is at a critical juncture transitioning from proof of concept to scaled application. As of June 2025, RWA total value locked (TVL) reached $12.5 billion, growing 124% from 2024. In just the first half of 2025, the market size surged from $8.6 billion to over $23 billion, representing growth exceeding 260%.

The collaboration between IVD MEDICAL and GOFINTECH QUANT is expected to advance the tokenization process of medical and other high-tech assets, activating trillion-dollar dormant assets and constructing efficient platforms connecting real assets with global capital. If successful, IVD MEDICAL could become the "BABA-W" of the RWA sector, leading a new industry ecosystem.