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According to Wu's report and Zhito Finance, the Hong Kong-listed company Coolpad Group announced that it is in the preliminary exploration stage of property asset RWA tokenization and has developed a four-phase strategic plan: The first phase is the feasibility study and planning, expected to be completed by Q4 2025; the second phase is partner selection and architectural design, expected to start in Q1 2026; the third phase will involve technical development and internal testing in Q2-Q3 2026; the fourth phase will involve regulatory communication and pilot launch, with the timeline to be determined. The company stated that it will strictly comply with relevant regulations and disclose information when there are significant developments.