China Qidian Guofeng tokenizes raw liquor and shares on ADG platform

China Qidian Guofeng Holdings Limited announced the tokenization of 62.5 tonnes of "Victory Raw Liquor" and 23,923,500 company shares on the ADG platform. This initiative aims to enhance brand value, expand its shareholder and customer base, and foster strategic partnerships in digital assets. The raw liquor was sold to Beijing Chunlianda Supply Chain Management Co., Ltd. for storage for at least five years.

The SPV, LJMiao Ltd., which is 99.99% owned by Ms. Liu, holds the rights to all proceeds from the raw liquor and the legal title to the shares. The RWA tokens, named "Victory – Moutai-flavoured Raw Liquor," represent a pro-rata entitlement to these underlying assets. Token holders, upon maturity in five years, can redeem for physical liquor delivery, opt for consignment sale with profit sharing (50% to investor), request physical delivery of shares, or receive proceeds from share sales by the ADG platform.

The initial tranche of this multi-year tokenization program is capped at HK$100m. The primary sale window opened on September 14, 2025, offering tokens to whitelisted, KYC-verified investors, excluding U.S. and PRC mainland investors. This offering is set to close on November 30, 2025, with secondary trading commencing thereafter on ADG's customer-to-customer order book.