PANews reported on January 23 that OSL Group (863.HK), a Hong Kong-listed company focusing on digital assets, released a profit forecast, predicting that revenue will hit a record high in 2024 and achieve profitability for the first time. According to preliminary review data, the group expects revenue in 2024 to be approximately HK$337 million to HK$375 million, a year-on-year increase of 60%-79%; profit from continuing operations is approximately HK$47 million to HK$52 million, a turnaround from a loss of HK$250 million in 2023; comprehensive income is expected to be HK$148 million to HK$165 million, a significant improvement from a loss of HK$266 million in 2023.

The main reasons for the revenue growth and profit include the recovery of the digital asset market, the launch of ETFs to stimulate the participation of institutional investors, the expansion of the management team and the improvement of operational efficiency. In addition, the appreciation of the digital assets held by the Group also made an important contribution to the performance growth.

OSL Group CEO Cui Song said that in the future, the company will expand into new business areas, enter broader markets and launch more product portfolios. The annual performance announcement is expected to be released in March 2025.