PANews, August 11 - According to Zhitong Finance, Hongqiao Group (08137) announced that after the market closed on August 8, the company entered into a non-legally binding strategic cooperation memorandum with Dongfang Yilin Industrial Co., Ltd. Dongfang Yilin is a comprehensive operator of timber asset digitalization registered in China.
According to the memorandum, the main cooperation contents between both parties are as follows: Both parties use Hainan Yellow Rosewood standing timber as the underlying asset to jointly explore the financialization path of precious timber assets, promote the industrialization of ecological resources, the capitalization of ecological industries, the productization of ecological capital, and the marketization of ecological products. They plan to build a green economic closed loop of 'precious timber industry resources + finance + blockchain' in conjunction with the latest trends in RWA, stablecoins, and compliant digital currency issuance.
The announcement states that the group focuses on a business model in the resource sector and is committed to finding investment opportunities that possess resilience and stability. Hainan Yellow Rosewood is the number one among the world's five famous woods, possessing rarity, growth potential, and high value attributes. It is recommended that the cooperation aligns with the group's exploration of potential business development models and strategic deployment requirements.