HK Stock Market Move | OSL GROUP (00863) rose by more than 3% after its profits increased. It is expected that the company's revenue for the year 2024 will increase by approximately 60% to 79% compared to the previous year.

OSL GROUP (00863) rose by over 3% after the profit announcement, up 2.49% as of press time to 7.82 Hong Kong dollars, with a turnover of 6.7038 million Hong Kong dollars. On the news front, OSL GROUP released an announcement that the group expects to achieve a revenue ranging from about 337 million Hong Kong dollars to 375 million Hong Kong dollars for the current year (ending on December 31, 2024), compared to about 210 million Hong Kong dollars in revenue for the same period in 2023, representing a growth of about 60% to 79%. At the same time, the group expects a net profit from continuing operations for the current year to range from about 47 million Hong Kong dollars to 52 million Hong Kong dollars, while there was a net loss of about 250 million Hong Kong dollars for the same period in 2023, turning from a loss to a profit from the same period last year. The group's expected revenue growth and return to profit for the current year can be attributed to various factors, including: (i) the appreciation of digital asset market prices this year, with the launch of digital asset exchange-traded funds (ETFs) accelerating institutional investors' participation in the digital asset market, driving growth in digital asset trading and institutional business demand; (ii) the group's continued expansion of the management team, deepening core strategies, and accelerating the implementation of business plans; (iii) the group taking effective measures to enhance and optimize operational efficiency; and (iv) the appreciation of digital assets held by the group for the promotion of trading business this year.