C CARBONNEUTRAL (01372) has announced that its wholly-owned subsidiary, Global Carbon Asset Management Co., Limited, following rigorous compliance audits, has utilized 500,000 metric tons of carbon credits certified under the Verified Carbon Standard (VCS) as the underlying asset. Through the licensed Singapore digital asset exchange platform DigiFT, a total of 500 million Carbon Coins have been issued, distributed, and placed into compliant custody. This issuance leverages DigiFT's regulated Real-World Asset (RWA) tokenization and trading infrastructure, enabling the on-chain and compliant transfer of carbon credit assets. This marks the world's first compliant carbon coin issuance based on an internationally authoritative carbon standard, and it is also the inaugural token issuance using VCS carbon credits as the underlying asset on an overseas regulated on-chain exchange. As global climate governance accelerates, carbon markets, serving as pivotal financial instruments for leveraging low-carbon transitions, are confronting constraints such as liquidity shortages, high costs, and regulatory opacity under traditional trading models. This issuance transforms internationally certified VCS carbon credit assets into digital tokens supported by blockchain technology, not only reshaping the carbon asset trading pathway technically but also exploring a novel paradigm for the circulation of green assets at an institutional level. This milestone signifies a breakthrough for the Group in the field of RWA digital asset tokenization and heralds a new phase of scaled implementation for carbon asset digitization and green financial innovation, carrying landmark strategic value for achieving global carbon neutrality goals and building a green economic system. It stands as a benchmark practice in responding to global climate consensus and innovating green value circulation pathways. The landmark significance of the world's first carbon coin issued on an overseas regulated on-chain exchange lies in its potential to reshape the foundational logic of carbon market development and lead a new global ecosystem for low-carbon development. As the world's first digital carbon asset product issued on an overseas regulated on-chain exchange, this Carbon Coin issuance breaks through the geographical and form constraints of traditional carbon asset trading, establishing a full-chain闭环 encompassing "carbon asset verification - digital certificate standardization - liberalized circulation." This innovation not only provides the global carbon market with a standardized, traceable, divisible, and transferable value载体 but also builds a bridge for the deep integration of green finance and the digital economy. It offers a replicable and scalable implementation model for markets advancing carbon neutrality strategies, propelling global climate governance from a policy-driven phase into a new era driven by markets and technology, thereby fostering a more efficient, inclusive, and resilient global low-carbon development ecosystem. The core support provided by the underlying VCS carbon assets solidifies the value foundation for global circulation. The underlying asset for this Carbon Coin issuance consists of carbon credit assets certified under the VCS standard. This standard was jointly established in 2005 by international authoritative bodies, including UN climate organizations, and is managed by the non-profit organization Verra. It is the most widely applied and market-recognized voluntary carbon emission reduction mechanism globally, covering key areas such as forestry carbon sinks, renewable energy, and energy efficiency improvements. Adopted by 96 countries and regions into their carbon reduction systems, it has cumulatively issued over 1.2 billion metric tons of emission reductions, accounting for a core 60%-70% share of global carbon credit交易量. Leveraging the international通用性 and authority of VCS carbon assets, combined with the Group's substantial VCS carbon asset reserves, the issued Carbon Coins inherently possess global circulation attributes. They provide a stable and credible value anchor for carbon trading,打破 down the fragmentation of national carbon markets and contributing to the formation of a unified and open global carbon trading system. The innovative value of the dual-chain technical architecture unifies regulatory control with market efficiency, reshaping a new, inclusive碳交易 ecosystem. This Carbon Coin issuance is based on an underlying architecture协同 built using the Group's self-developed联盟链 and public chain technologies, achieving an organic unity of "regulatory controllability" and "market efficiency." As a financial-grade trusted协同 network, the联盟链, through its integrated architecture of "penetrative regulation, data sharing, privacy protection, and信用 empowerment," enables full lifecycle traceability and immutability of carbon assets from project development and certification issuance to trading circulation, providing regulatory bodies with即时 and precise oversight tools. Coupled with the transparent circulation特性 of the public chain,智能合约 facilitate transaction matching and settlement, compressing the traditional carbon trading cycle from weeks to minutes and significantly reducing transaction costs. Through the decentralized issuance and circulation mechanism on a regulated digital asset trading platform, it ensures transparent and fair trading while connecting global capital with优质 carbon projects via跨链互通 technology, thereby重塑 the trust foundation of the carbon market. This shift promotes碳交易 from a centralized, high-threshold niche market towards a decentralized, widely accessible普惠 market. The core value of enhanced liquidity unlocks the potential for the普惠化 development of carbon markets. This Carbon Coin issuance directly addresses industry pain points such as "concentrated trading, insufficient liquidity, and high investor thresholds" associated with traditional carbon assets through digital fractionalization and compliant circulation design. Carbon Coins achieve the securitization of underlying carbon assets into standardized units, lowering participation barriers and expanding investor accessibility within a compliant framework. Leveraging Singapore's advantages as an international financial hub and the distributed nature of blockchain technology, the DigiFT regulated trading platform enables 24/7 global trading, attracting diverse qualified investors who meet regulatory requirements, thereby significantly enhancing碳市场 liquidity and value discovery efficiency. This transformation not only makes carbon assets more accessible and configurable green investment标的 for investors but also empowers enterprises to flexibly manage their own carbon assets, optimize emission reduction strategies and carbon cost structures, enhancing their sustainability image and market competitiveness while meeting regulatory compliance requirements. The innovative value of empowered financial attributes facilitates a virtuous cycle of green capital, aiding the development of the global carbon neutrality ecosystem. The launch of Carbon Coins fully activates and释放 the financial attributes of carbon assets. As standardized digital assets, Carbon Coins possess characteristics of financial products such as clear pricing,便捷 trading, and controllable risks, enabling exploration of diverse application scenarios like carbon质押融资, asset保值, and增值, thereby filling a工具空白 in the碳金融衍生品 market. By quantifying ecological value into tradable financial value, Carbon Coins break down barriers between green capital and实体减排 projects: they provide stable funding sources for emission reduction projects, solving the dilemma of "difficult and expensive financing" for green projects; they also offer investors investment choices that balance environmental and economic benefits, promoting a virtuous cycle of "investment - emission reduction -收益 - reinvestment" for green capital, thereby助力 the high-quality development of the global green industry. The协同 value of生态共建 leads a win-win格局 for global low-carbon development. This Carbon Coin issuance is not merely a single product innovation but a key move in the Group's strategy to build a full-chain low-carbon ecosystem of "emission reduction project development - carbon asset certification - digital token conversion -生态价值反哺." Within this ecosystem, emission reduction projects can achieve efficient circulation through Carbon Coins, obtaining continuous operational funding to accelerate implementation and technological iteration; investors can participate in trading to share the dividends of green development and complete their green asset allocation; regulatory bodies can achieve transparent oversight of the entire process relying on blockchain technology, enhancing碳市场 governance efficiency; qualified investors, including individuals, SMEs, and institutional investors meeting regulatory requirements, can conveniently use digital operations to核销 Carbon Coins to offset their own carbon emissions and practice low-carbon living理念. The deep participation of multiple stakeholders ultimately forms a virtuous cycle where "emission reduction yields收益, investment yields returns, regulation has basis, and participation has paths," solidifying a market-oriented and普惠化 practical foundation for advancing global carbon neutrality goals. In the future, the Group will continue to expand the application scenarios of Carbon Coins in areas such as new energy, the circular economy, and green supply chains, promoting their deep integration with green consumption, green mobility, and green production. It will collaborate with global partners to build an open, synergistic, and win-win global low-carbon ecosystem, injecting new momentum for sustainable development into the global carbon neutrality cause. The Board of Directors believes that the core significance of issuing Carbon Coins on an overseas regulated on-chain exchange lies in injecting three core elements—transparency, efficiency, and accessibility—into the global carbon market. This represents not just a technological upgrade but a paradigm revolution for carbon markets,有望破解 the long-standing crises of trust and liquidity that have plagued them, thereby guiding global capital more efficiently towards key areas crucial for addressing climate change. This Carbon Coin issuance further expands the Group's application boundaries in the tokenization of green digital assets and stands as a significant milestone in the Group's practice of green development理念. It holds positive implications for promoting the standardization of carbon asset trading and the innovation of green asset financing, and will also vigorously advance the construction of a global green asset financial ecosystem, promoting high-quality development within the industry. The Company believes that deep involvement in the green digital technology sector will bring sustainable business growth and long-term financial returns to the Group, laying a solid foundation for its global low-carbon business布局, and further consolidating and enhancing the overall interests of the Group and its shareholders.