IVD MEDICAL(01931): Metamorphosis into a butterfly, reborn on the chain.

On September 14, 2025, IVD MEDICAL (01931) issued two major announcements, declaring a comprehensive upgrade of its strategy. On the one hand, the company announced a joint investment with partner ETHK Group to establish two new companies, ETHK Inc and ETHK HOLDINGS LIMITED, deepening the global on-chain financial ecosystem strategy through the core brand "ETHK". IVD MEDICAL September 14, establishment of joint venture company announcement On the other hand, the company proposed to change its English name from "IVD Medical Holding Limited" to "China Check Digital Industry Group Limited", and the English name was changed from "IVD Medical Holding Limited" to "ETHK Labs Inc.". This marks the official transformation of a traditional medical company into a digital industry technology innovator. 1. Strategic Transformation, Rebirth of the On-chain Medical Enterprise On September 14, IVD MEDICAL officially announced the key steps of its strategic transformation. According to the announcement, IVD MEDICAL reached a cooperation with partner ETHK Group to jointly invest in establishing two new companies, ETHK Inc and ETHK HOLDINGS LIMITED. ETHK Inc will focus on operating and developing the "ETHK" core brand, aiming to create a secure, efficient, compliance, and open decentralized financial platform. ETHK HOLDINGS LIMITED is positioned as the central hub for ecological-level digital industry investment and mergers and acquisitions, with the strategic theme of "completing the asset end, activating the fund end, and strengthening the compliance end". Simultaneously, the company's name will be changed. IVD MEDICAL announced its intention to change the English name from "IVD Medical Holding Limited" to "ETHK Labs Inc.", and the Chinese double foreign name from "IVD MEDICAL Holding Limited" to "China Check Digital Industry Group Limited". IVD MEDICAL September 14, proposal to rename announcement The Board believes that the new name will better represent IVD MEDICAL's "ambition to become a global digital industry innovator and on-chain financial core technology driver". This transformation was not a sudden decision. In July 2025, IVD MEDICAL continuously deepened the on-chain finance and RWA layout, and on September 1, the company announced the acquisition of a 20.31% stake in GOFINTECH for HKD 3.142 billion, becoming the largest shareholder of this quantum technology company with Hong Kong financial licenses 1, 4, 6, and 9. 2. Ether Kingdom, Building a New On-chain Financial Ecosystem The name "ETHK" embodies profound philosophical thinking and technological vision. The brand name is derived from the fusion of [ETH - Ether] and [K - Kingdom]. In ancient Greek philosophy, "Ether" was seen as the fundamental medium that constitutes the universe and fills all things, the ultimate carrier of interconnectedness and value circulation. This aligns closely with the core of blockchain technology, which is a distributed medium that carries value and enables trusted interconnection. ETHK Labs will be positioned as the core institution within the entire "ETHK" ecosystem focusing on cutting-edge technological research and development, output, and ecological empowerment. In the future, ETHK Labs will serve as the digital technology cornerstone and innovation engine for the entire ETHK on-chain financial ecosystem and global partners, providing solid, reliable, high-performance underlying technology support and one-stop solutions. In line with this renaming, the company's original technology ecosystem platform domain ivd.xyz will be upgraded to labs.ethk.com. This move signifies that the focus of IVD MEDICAL's business is officially shifting towards in-depth research and global output of digital industry technology infrastructure. IVD MEDICAL emphasized in the announcement that ETHK aims to be defined as "a next-generation on-chain financial ecosystem that is based on leading technology, secured by compliance and safety, and driven by an open community, dedicated to redefining global asset circulation and value exchange modes". 3. RWA Track, Seizing the Global Infrastructure Initiative IVD MEDICAL's transformation comes at a critical juncture of explosive growth in the global RWA (Real World Assets) market. According to the Real World Assets Development Research Report released by the Hong Kong Web3.0 Standardization Association, as of June 2025, the total locked value (TVL) of RWA reached $12.5 billion, a 124% increase from 2024. Just in the first half of 2025, the market size skyrocketed from $8.6 billion to over $23 billion, a growth of over 260%. Boston Consulting Group (BCG) and the Singapore Digital Exchange (ADDX) jointly predict that by 2030, the global RWA market size will reach $16.1 trillion, accounting for 10% of the global GDP. By establishing joint venture companies and renaming, IVD MEDICAL has effectively taken the lead in global RWA infrastructure construction. The ETHK ecosystem will comprehensively deploy currency market basic assets, tokenize real-world assets (RWA), native on-chain financial derivatives, and complex DeFi yield strategy combinations. Key initiatives include the tokenization of equity assets, including "on-chain stocks", to facilitate efficient and compliant global circulation and value discovery of global assets, especially Chinese assets. This strategic layout is highly aligned with the development direction of the Hong Kong Special Administrative Region government. In June 2025, the Hong Kong government mentioned "tokenization" 37 times in the latest "Digital Asset Development Policy Declaration 2.0", demonstrating its determination to promote RWA tokenization. 4. Altruistic Win-win, Value Reconstruction of Strategic Upgrade IVD MEDICAL's strategic upgrade goes far beyond commercial considerations, but also embodies profound altruistic values. Firstly, for the country, IVD MEDICAL's on-chain financial layout will help promote the "on-chain going overseas" of high-quality Chinese assets and enhance China's discourse power in the global digital finance field. Leveraging blockchain technology's immutable, traceable, and smart contract automatic execution characteristics, on-chain finance builds an efficient, transparent, and trusted digital asset circulation environment. For the industry, the ETHK ecosystem will effectively address the financing issues faced by enterprises, drive industrial upgrading and globalization. Through the ETHK ecosystem, IVD MEDICAL will deeply engage in and lead the historic process of high-quality Chinese assets "going overseas" and efficient global circulation of assets on-chain. For the general public, RWA technology can significantly lower the investment threshold, giving ordinary investors the opportunity to participate in asset categories that were previously limited to high-net-worth individuals, promoting a shift from "elite investment" to "universal investment" and further promoting financial inclusion, achieving fairness in society. At the same time, the development of on-chain finance will improve the efficiency and transparency of financial services, reduce financial risks, and provide security for the stable development of the socio-economy. For investors, IVD MEDICAL's transformation signifies a fundamental change in the company's valuation logic. From a traditional medical equipment distribution company to a provider of digital industry technology infrastructure, the company's valuation model will shift from the traditional price-to-earnings ratio to a more imaginative price-to-sales ratio (P/S) or price-to-sales ratio to growth rate (PEG) valuation. IVD MEDICAL outlined its brand vision of "Technology for the Public, Chain as the Carrier" in the announcement: "We believe that disruptive financial innovation technology should not be owned by a few, but should serve as a public tool for the global economy and benefit every individual".