The deep sea contains the largest reserve of untapped resources since the industrialization of human society. According to an assessment by the International Seabed Authority, the polymetallic nodule reserves in the Clarion-Clipperton Fracture Zone region in the Pacific alone contain approximately 21 billion tons of manganese, 940 million tons of copper, 650 million tons of nickel and other key industrial metals, and their value reaches trillions of dollars. Embodiment of capital logic: 1. Scarcity premium capture: As onshore high-grade mineral deposits are increasingly exhausted, deep-sea mineral resources will form a structural supply gap, and capital that grasps mining capabilities will gain pricing power advantages. 2. Strategic security premium: Autonomous control of key mineral supply chains has become a national strategic issue, and deep-sea resource development enterprises will receive dual support from policy and capital. 3. Technology first premium: The patent barriers of deep-sea mining technology are extremely high, and early planners will form a lasting competitive advantage similar to the field of semiconductor lithography technology. Based on the current most mature deep-sea polymetallic nodule development project, the internal rate of return of a single Kuangqu (IRR) can reach 15-25%, the payback period is about 8-12 years, and it has stable output capabilities that last for more than 20 years. This cash flow characteristic perfectly matches the allocation needs of long-term capital for "sustained and stable returns".

The extreme environment of the deep sea breeds the most unique biological resources on earth. The special metabolic pathways and bioactive substances evolved by these organisms in high-pressure, low-temperature, and light-free environments are giving birth to a new generation of biotechnology revolution. Value realization path: 1. Breakthroughs in pharmaceutical research and development: New antibiotics against superbacteria and targeted compounds for treating cancer have been discovered in deep-sea microorganisms. The market value of a single successful drug can reach the order of tens of billions of US$2. Industrial enzyme revolution: Deep-sea enzymes that are resistant to high pressure and low temperature have shown disruptive potential in fields such as biomanufacturing and environmental protection. 3. Cosmetics and functional foods: Deep-sea bioactive ingredients have become an important premium source for high-end consumer goods. The investment model of deep-sea bioprospecting presents typical "venture capital" characteristics: high R & D investment and screening costs are required in the early stage, but once found to be commercially valuable strains or compounds, their intellectual property value will increase exponentially. The combination of modern bioinformatics and high-throughput screening technology is significantly reducing discovery costs and increasing the probability of success.

Deep-sea environmental monitoring data is becoming a digital asset with strategic value. The value of data generated by the Global Ocean Observing System exceeds US$3 billion every year and is growing at a rate of 20% per year. Capitalization path of data value: 1. Climate economic infrastructure: Accurate deep-sea circulation data is the core input of climate models. As the carbon trading market expands and the demand for climate risk assessment surges, related data services will generate stable cash flow. 2. Marine disaster early warning services: Accurate early warning of tsunamis, typhoons and other disasters brings huge social and economic value, and the market for government procurement and commercial insurance application of related data products is broad 3. Submarine communication and navigation enhancement: Fine seabed terrain data is crucial to the next generation of underwater communication networks and autonomous vehicles. The deep-sea data industry has typical "network effects" and "scale effects"-the richer the data accumulation, the more accurate the model predictions, The higher the value of the product; the wider the coverage, the stronger the industry barriers. Early companies that established data collection networks and processing platforms will occupy a favorable position similar to "infrastructure operators" in the digital age.

Technological innovation spawned by deep-sea exploration is continuing to spill over into onshore industries. This technology transfer creates value spillovers beyond the deep-sea industry itself. Typical spillover areas: 1. High-end equipment manufacturing: Deep-sea pressure-resistant material technology has been applied to aerospace; precision underwater robot technology is transforming the testing and maintenance process of traditional manufacturing industries 2. Energy technology revolution: Deep-sea drilling technology has given birth to the shale gas revolution; ocean thermoelectric power generation technology may become an important supplement to future base-borne energy. 3. Breakthroughs in communication technology: Underwater acoustic communication technology is driving the expansion of the Internet of Things into the ocean and underground space. From a return on investment perspective, technology spillover has created unique "option value"-companies 'technology investment in the deep-sea field may be in other completely different areas Get windfalls. This cross-industry technological synergy is the most popular value creation model for Sharp Capital.