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HONG KONG, October 22, 2025 – EVIDENT, the first SFC-licensed full-stack digital market for alternative assets, today announced the successful completion of a tokenized security issuance for China Resources Longdation. This landmark transaction marks the first industrial-sector tokenization by a central state-owned enterprise in Hong Kong. The initial offering, which tokenizes future revenue from the Charge Wonderful Life (CWL) electric-vehicle charging network, achieved full subscription from professional investors.
The transaction utilizes EVIDENT’s Direct Depository Tokenization (DDT) model - a highly efficient, fully compliant, and rapid-to-market tokenization approach enabling traditional asset owners to digitalize their assets with reduced complexity. China Resources Longdation has tokenized the operating income rights of its CWL electric vehicle charging network, creating an alternative financing mechanism that supports Hong Kong's carbon neutrality objectives.
This model provides a vital financing mechanism, channeling institutional capital to support crucial infrastructure investments and advancing Hong Kong’s green and transition finance goals.
"This year marks a definitive shift from hypotheticals to a new, tangible phase of implementation in asset tokenization," said Dr. Florian M. Spiegl, Founder & CEO at EVIDENT. "This transaction is a prime example of a real-world asset being successfully placed with investors via new digital market infrastructure. It proves that the market infrastructure for a digital-native financial system is not just being built; it is operational, secure, and actively channeling capital to where it's needed in the real economy."
EVIDENT provided a comprehensive, end-to-end solution along its core service pillars:
The integrated platform reduces operational friction and settlement risk through smart contract automation, while blockchain technology provides transparent, auditable transaction records that meet regulatory standards.
This milestone is also a concrete result of the partnership formed between EVIDENT and China Resources, following their participation as partners in the Hong Kong Monetary Authority’s (HKMA) Project Ensemble.
The successful collaboration demonstrates a practical, market-led application of the principles explored within Project Ensemble, turning industry-wide exploration into tangible commercial outcomes. As the first green finance tokenization case based on a light asset model to emerge from this partnership, the project provides a real-world model for how blockchain technology can facilitate infrastructure financing while supporting environmental objectives.
Traditional infrastructure investment has typically required substantial capital commitments, restricting participation to large institutional investors. EVIDENT's SFC-licensed platform creates regulated pathways for wealth management firms and their private wealth clients to access these opportunities through tokenization, while maintaining regulatory compliance and investor protection standards.
By digitizing revenue streams and creating divisible, transferable interests through our full-stack market, we are helping wealth managers offer their clients access to previously unavailable infrastructure investments. The technology serves both the real economy and private wealth investors seeking portfolio diversification.
The successful issuance validates several key achievements:
EVIDENT's work with China Resources Longdation advances Hong Kong's position in global digital finance. The transaction provides a working example of how traditional enterprises can leverage blockchain technology within existing regulatory frameworks, supporting the objectives outlined in Hong Kong's Digital Asset Development Policy Statement 2.0.
The Direct Depository Tokenization (DDT) model reduces technical barriers for asset owners considering digital transformation. Rather than requiring extensive blockchain expertise, enterprises can focus on their core operations while EVIDENT manages asset structuring, technical infrastructure, and distribution.
In a year of strong growth, EVIDENT is focused on deepening its strong partnerships with industry leaders in asset management and wealth management. We are investing heavily to further build out our capabilities in infrastructure investments and the fast-growing segment of private equity secondaries. We will also continue our focus across other core asset verticals, from credit to infrastructure and intellectual property, that deliver measurable economic and environmental outcomes for the ultimate benefit of investors and society.
"This transaction establishes operational precedents that others can follow," added Dr. Spiegl. "We're building reliable infrastructure for a market that demands both innovation and stability. Our focus remains on practical applications that solve real financing challenges."
The collaboration between EVIDENT and China Resources Longdation combines industrial expertise with digital asset technology. China Resources Longdation brings established infrastructure assets and operational experience, while EVIDENT provides the investment structuring, regulatory, and technical framework for capital market access. This partnership model can be replicated across sectors seeking alternative financing mechanisms.
The selection of CWL's charging station revenue for tokenization was deliberate – the assets generate predictable cash flows, serve a clear environmental purpose, and align with government policy priorities. These characteristics make them suitable for institutional investment through digital channels.
Real-world asset tokenization has evolved from concept to implementation across global markets. Hong Kong's regulatory clarity, combined with strong institutional demand for alternative investments, creates favorable conditions for continued growth.
While many in the industry remain in conceptual stages, the key market differentiator is shifting from technological novelty to successful execution and proven distribution. This transaction demonstrates a tangible, fully-placed asset, setting a benchmark for market-ready applications that successfully bridge real-world assets with institutional capital.
EVIDENT's approach prioritizes regulatory compliance, operational security, and commercial viability. This pragmatic focus has enabled EVIDENT to build trust with both traditional enterprises and institutional investors navigating the digital asset space.
EVIDENT is the first SFC-licensed full-stack market for private assets that connects wealth management firms and their clients with alternative investment opportunities from leading asset managers. Its digital market infrastructure, powered by asset tokenization on blockchain, simplifies access, digitises and automates administration, enhances liquidity, and offers greater convenience for investing in alternative assets. Through EVIDENT, private wealth investors access the diversification and growth opportunities in private markets, all within a safe and regulated framework. The company's regulator-approved tokenization approaches offer comprehensive services including platform provision, token creation, custody, and distribution.
China Resources Longdation Co., Ltd. is a member of China Resources (Holdings) established in 1982, operating as a diversified conglomerate centered on three core platforms: Integrated Property Management, Asset Management, and an Ecosystem Business Platform. The Company has extensive business covering infrastructure, hotel operations, and high-end retail, managing over 140 million square feet of property in Hong Kong and serving more than 1 million Hong Kong residents.
