On October 13, 2025 (after trading hours), Spectrum Digital Technology Group entered into a cooperation framework agreement with China Property Investment (00736), Guangdong Tianyi Ma (301178) Digital Energy Co., Ltd., and Nano Labs Ltd. The agreement concerns the creation of a real-world asset (RWA) ecosystem to achieve the tokenization of high-quality photovoltaic new energy assets. According to the framework agreement, Spectrum Digital Technology Group, China Property Investment, Guangdong Tianyi Ma Digital, and Nano Labs intend to integrate core capabilities including but not limited to new energy technology, digital financial technology, and asset management to develop the RWA ecosystem for new energy assets; and establish a closed RWA ecosystem of "asset aggregation, technology empowerment, compliance design, capital appreciation, and RWA issuance" to accelerate the efficient issuance of new energy asset RWAs. At the same time, a closed RWA ecosystem of "asset aggregation, technology empowerment, compliance design, capital appreciation, and RWA issuance" will be established to accelerate the efficient issuance of new energy asset RWAs. According to the framework agreement, Spectrum Digital will assume the core compliance responsibilities for potential RWA projects, coordinate resources from all parties, establish financing structures, promote project execution, and ensure that RWA projects proceed in a compliant and orderly manner. The main responsibility of China Property Investment is to provide support for the issuance services of new energy asset RWAs. The cooperation period of this framework agreement is effective from the date of signing until the parties confirm termination in writing. The establishment of the framework agreement aligns with the company's strategic planning to enter the RWA field. Through resource complementarity and cooperation with Guangdong Tianyi Ma Digital, Nano Labs, and China Property Investment, the company can enhance its professional capabilities and project execution efficiency in the RWA field. The board believes that through potential cooperation, the company can accelerate its participation in the digital asset and Web3 industry.