Chairman of the Board of Directors of OSL Group (00863), Li Jinhong: The choice of turning point, jointly building a new balance between digital assets and the real economy.

On November 4, 2025, the Finternet 2025 - Asia Digital Financial Summit was held in Hong Kong. Mr. Li Jinhong, Chairman of the Board of OSL GROUP (00863) and Chairman of the Finternet Asia Digital Financial Summit Organizing Committee, pointed out in his opening speech that the digital asset industry is at a key turning point from the "speculative 1.0 era" to the "utility-driven 2.0 era". He explicitly called for global cooperation to build a compliant and trustworthy "financial internet" to promote the deep integration of digital assets with the real economy. The following is the full text of his speech: Mr. Li Jinhong, Chairman of the Board of OSL GROUP and Chairman of the Finternet Asia Digital Financial Summit Organizing Committee: Respected guests, representatives of regulatory agencies, innovators, and leaders from various sectors around the world, good morning. As the organizer of this summit, I am honored to welcome you all to the Finternet Asia Digital Financial Summit. Not long ago, the "two worlds" represented by all of you here today - traditional structured finance and decentralized digital natives - were still distant from each other, even with a hint of doubt. Today, we are all gathered here. This fact itself marks the real beginning of a "great integration" of a new era. I believe there is no better place than Hong Kong to witness this convergence. This city has always been a bridge - connecting the East and the West, connecting existing order and cutting-edge adventure. Today, it is ready to become the strategic bridge of the "financial internet". We are gathered here because we are witnessing the explosive growth of the Web3 world. This is no longer a niche experiment. What we are discussing is a proven and undeniable economic force. The International Monetary Fund (IMF) recently pointed out that the total market value of crypto assets has exceeded $35 trillion. The market value of stablecoins alone has surpassed $230 billion, reaching unprecedented levels. But this growth is more than just numbers on a screen; it is about a fundamental transformation. At its core is a novel technological architecture - the blockchain technology characterized by decentralization. It has generated a whole new economic ecosystem. Some call it the "great reshaping of the network." This system aims to change the way information - and the current concept of 'value' - is stored, shared, and possessed. This new ecosystem is nurturing endless innovation and entirely new business models. And to foster such unlimited innovation, it needs its own "lifeblood": digital assets, or more simply put, cryptocurrencies. They have provided fuel in various forms for this new Shanghai New World, creating new, programmable paths for defining, managing, and exchanging 'value.' This also leads us to a deeper transformation, a direction many believe in: tokenization. This is a creative potential with no limits, where the only restriction may be our own imagination. Looking back at this journey: ten years ago, Bitcoin was just a concept. Today, its value has surged from almost zero to over $120,000 at peak times, and has successfully drawn serious attention from institutional investors. Now, some predictions suggest that this broader "tokenization" market will grow from a "billion" level to a "trillion" level in the next decade. However, as someone who has worked in the structured finance and legal fields for decades, I must talk about the other side of this explosive growth. This kind of innovation, its speed, its new architecture, its new paths - has raised significant concerns, and these concerns are understandable. These concerns come not only from the traditional world but also from within our industry. We don't have to look far. The huge volatility of the market is not an illusion. The historic liquidation event in the cryptocurrency market witnessed just last month - referred to as a "flash crash" by the media - was not a random anomaly. This was a profound reminder. This was a systematic stress test. This is the "growing pains" of an industry transitioning from "adolescence" to "adulthood." This is the friction inevitable when the 1.0 era of "permissionless innovation" clashes with the 2.0 era of a "world that requires trust." This is the "turning point" we find ourselves in today. The 1.0 era, full of "speculation and hype," was indeed exciting, but it must now give way to the 2.0 era. This is an era defined not by "hype" but by "utility;" an era defined by "real solutions for the real economy." And this, ladies and gentlemen, is the core mission of this forum. Our mission is to find that "equilibrium." How can we establish this balance? We believe it depends on building a broad, compliant, and trustworthy "financial internet" - and this is precisely the meaning of the term "Finternet." This new network cannot be built solely on code. It must be built on a foundation of "constructive global dialogue." It requires innovators wearing t-shirts and custodians wearing suits to speak the same language. It needs consensus between regulators, entrepreneurs, and institutions safeguarding the global financial system. And the ultimate purpose of this network, its only true mission, must be to serve the real economy. The path to achieve this mission is what many of you will explore today, such as: establishing robust frameworks for tokenizing real-world assets, and building compliant and efficient payment networks. In the payment domain, its potential is clearly visible. A joint industry report compiled by Artemis, a provider of digital asset data solutions, and OSL GROUP, a leading stablecoin trading and payment infrastructure in Asia, found that although the volume of stablecoin payments is still small, its annual growth rate is almost ten times that of traditional payment networks, with B2B payments being the strongest growth engine. This is not just macro data; we have already seen real practices at the micro level. Taking OSL Group as an example, the company's licensed payment business launched in Europe this year, as a solid step in its strategic transformation, has achieved significant results in a very short time, vigorously validating the market's urgent demand for compliant solutions. Currently, OSL is actively deploying more than 50 trading and payment-related licenses in over 10 key markets globally, which fully demonstrates the huge potential of compliant payments. Market demand is real. This is what "real solutions" should look like. This is the work that all trustworthy, licensed participants must undertake: to build a global compliant network that ultimately connects this "new force" of digital assets with the real economy. It is so appropriate for us to have this discussion here. We are "based in Hong Kong, connecting globally." This city is a vivid and vibrant bridge, with a unique position in facilitating global dialogue. The future of this "financial internet" is not predetermined. It is not a scripted story. The future is still up for us to strive for and work towards. The future will be shaped by our choices. It will be built by all of you present here - with your vision, willingness to cooperate, and courage to solve "hard problems." This forum is an opportunity for us to "discuss and generate ideas." This forum is an excellent opportunity for us to "bridge ideas with solutions." Let's work together to ensure that the "Finternet" we build with our own hands is not only innovative but also trustworthy, responsible, and genuine. Thank you. Welcome to Finternet 2025 - Asia Digital Financial Summit.