OSL Group (00863) announces a profit increase and expects to achieve revenue of approximately 337 million to 375 million Hong Kong dollars in the financial year 2024, representing a year-on-year growth of approximately 60% to 79%.

OSL GROUP (00863) announces that the group is expected to achieve revenue of approximately HK$337 million to HK$375 million for the current fiscal year (ending December 31, 2024), compared to revenue of approximately HK$210 million in the same period of 2023, representing a growth of approximately 60% to 79%. At the same time, the group expects to achieve a net profit from continuing operations of approximately HK$47 million to HK$52 million for the current fiscal year, compared to a net loss of approximately HK$250 million from continuing operations in the same period of 2023, turning from a loss to a profit compared to the previous year. The expected increase in revenue and the turnaround from loss to profit for the current fiscal year can be attributed to several factors, including: (i) the rising prices of digital assets this year, the launch of digital asset exchange traded funds (ETFs) accelerating institutional investor participation in the digital asset market, driving growth in digital asset trading and institutional business demand; (ii) the group continues to expand its management team, deepen its core strategies, and accelerate the execution of its business plans; (iii) the group has taken effective measures to enhance and optimize operational efficiency; and (iv) the digital assets held by the group for promoting trading activities have appreciated this year.