“BD Expansion Brings a ‘DeepSeek Moment’ for Innovative Drugs” Technological advancements are accelerating transformation and innovation across the pharmaceutical industry. Our Portfolio Manager Zeshi points out that over the past decade, the pharmaceutical sector has experienced shifts in its key investment themes every few years, and innovative drugs have become the most significant industry trend today. Source: China Asset Management Co., Ltd. Risk Disclaimer: Investment involves risk, including possible loss of principal. Any forecasts, projections, or opinions contained herein are for reference only and are not guaranteed to occur. The information in this material reflects prevailing market conditions and our judgment as of the release date, which are subject to change without further notice. #ChinaAMC# #AssetManagement# #GlobalInvesting# #ActiveResearch# #Finance#

INTERVIEW: near:native’s AI Money Thesis—Intents, Privacy, & Tokenomics | Sal Ternullo @NEARProtocol keeps showing up in strange places: cross-chain wallets, privacy apps, AI infrastructure, and now the emerging agent economy. @sal_ternullo, CEO of @svrn_ai, joins us to explain why he thinks this is not another NEAR pivot, but the original thesis finally coming into focus. They dig into NEAR Intents, AI money, tokenomics, privacy, fee capture, agentic commerce, and why SVRN is trying to commercialize the NEAR ecosystem rather than simply hold the asset. [TIMESTAMPS] 0:00 Intro 2:23 Why NEAR Keeps Showing Up 3:58 Pivot or Return to Roots? 5:34 The “AI Money” Thesis 7:47 Intents, Zashi, and Real Product Market Fit 9:31 Tokenomics, Buybacks, & Value Accrual 12:39 NEAR’s Different Approach From Ethereum 15:54 Fees, Scaling, and First-Party Apps 20:57 Cross-Chain Liquidity as NEAR’s Moat 25:14 The Contrarian Investor Case for NEAR 28:20 Privacy, Enterprises, and AI Agents 36:25 What SVRN Is Building for NEAR 42:48 Investor Sentiment & Final Thoughts