Xenitra (ASX: XEN): Tokenising FMCG Sales in China — with Dr Anthony Noble

Western brands, Chinese consumers, and loyalty points on the blockchain — Xenitra Group (ASX: XEN) is doing something genuinely new on the ASX. In this Homodeus Research investor interview, founder Wei Sim speaks with Dr Anthony Noble, Executive Chairman of Xenitra, about the company's transformation from the former AUMake tourism business into a focused China FMCG brand accelerator built on three growth pillars: - Nutritionals: a streamlined, B2B-led channel selling household-name brands into China, recently anchored by a ~$30M Danone-related contract with conglomerate RockCheck. - OTC Medicines: a fast-emerging cross-border opportunity, now operational via the Fukang pharmacy acquisition, a wholesale and retail licence, and a leadership hire out of JD Health. - OPAL Tokenisation: one of the first real-world-asset (RWA) tokenisation platforms applied to mainstream FMCG distribution on the ASX, with over $1M in sales and 500+ distribution partners in under two months. Dr Noble explains how the OPAL token works as an appreciating loyalty asset (think Qantas Frequent Flyer, but where the points get more valuable over time), the Hong Kong regulatory framework behind it, the path to cash-flow positivity, and where he sees the biggest upside heading into FY27. Guest: Dr Anthony Noble, Executive Chairman, Xenitra Group (ASX: XEN) Host: Wei Sim, Founder, Homodeus Research CHAPTERS 00:00 Introduction & investment thesis 01:26 From AUMake to Xenitra: the turnaround 02:02 The brand accelerator model 05:13 Three sales channels overview 06:02 The OTC medicines opportunity 07:04 What is RWA tokenisation? 10:33 OTC deep dive & the Fukang pharmacy acquisition 13:53 OPAL tokens explained 16:41 The Zen Shop & the rewards flywheel 23:14 Key takeaways 25:17 Q&A begins 25:34 What's driving the tokenised sales growth? 26:43 Path to cash-flow positivity & capital needs 27:58 OTC vs nutritionals: comparing the segments 32:38 Regulatory & compliance: OPAL, ASIC and Hong Kong More research and subscribe: https://homodeus.one DISCLAIMER: This episode is general information only and does not constitute financial product advice or a recommendation to buy, hold or sell any security. It does not take into account your objectives, financial situation or needs. Homodeus Research operates on an issuer-pays model and is a Corporate Authorised Representative under Sharewise's AFSL; Homodeus has been engaged in connection with Xenitra Group. Consider the relevant disclosure documents and seek independent professional advice before making any investment decision. Past performance is not indicative of future results.