(Hong Kong, 16 August 2024) - OSL Group (863.HK), Hong Kong's only publicly listed company fully dedicated to digital assets, today announced its interim results for the six months ended June 30, 2024. The Group's interim results reveal a significant boost in digital assets and blockchain platform business, with IFRS income skyrocketing by 17.7% year-over-year (YoY). This impressive growth, coupled with a 90.2% reduction of losses from continuing operations, demonstrates the success of the Company’s drive towards long term revenue growth and operational efficiency.
"Despite market volatility and macroeconomic uncertainties, OSL has continued to maintain a strong performance in our digital asset trading and blockchain platform businesses," said Patrick Pan, Chairman of the Board at OSL. "Not only have we stood our ground, we've once again demonstrated our strength and resilience."
Key highlights for the period include:
Digital assets and blockchain platform business Group’s IFRS income was HK$123.8 million, up HK$18.6 million on YoY from HK$105.2 million.
Operating performance improved significantly, with a 90.2% reduction in loss from continuing operations.
OSL: Driving Digital Asset Growth in 1H2024
Entrusted as the virtual asset trading platform and sub-custodian for both ChinaAMC's and Harvest Global’s inaugural spot BTC/ETH ETFs.
Inclusion in the MSCI Hong Kong Index* reflecting OSL's substantial growth and pivotal role in global financial markets.
Two esteemed awards – "Best Digital Assets Service Provider" at the 2024 HFM Asia Services Awards and the "Best Investment & Wealth Management - Virtual Asset Trading Platform" award from Metro Finance – acknowledging its excellence in the digital asset space.
First AMLO Licence granted by the SFC, demonstrating its commitment to regulatory compliance and enhancing the security and credibility of the digital asset market.
"Looking ahead, we remain focused on expanding our product offerings, enhancing customer experience, and exploring new business opportunities in the blockchain space," added Kevin Cui, Group CEO at OSL. "We are confident that our long-term strategy will continue to drive growth and value for our shareholders."
*Under MSCI Global Small Cap Index
About OSL Hong Kong
As a subsidiary of the publicly listed OSL Group (HKEX: 863.HK), OSL Digital Securities is Hong Kong’s first and most established SFC-licensed and insured digital asset platform. Operating since 2018, the platform provides institutional-grade digital asset services to corporations, financial institutions, professional and retail investors.
OSL Hong Kong delivers services across five core domains: OTC brokerage, Omnibus broker solutions, custody, wealth management, and retail services. The OTC brokerage services provide 24/7 high-liquidity crypto trading with fiat on/off-ramp services. Custody solutions feature client-asset segregated wallet management backed by US$1 billion insurance coverage. The wealth management suite offers crypto investments to traditional investors, including tokenised treasuries, RWAs, structured crypto products, and quant investment strategies. Retail services bring institution-grade security and crypto access to professional and retail investors.
As a pioneer in bridging traditional finance and the digital asset economy, OSL Group adheres to its core concept: Open, Secure, and Licensed, empowering the next generation of global financial infrastructure. In addition to Hong Kong, OSL Group expands operations under full regulatory compliance in Japan, Australia, Europe and beyond.
For more information, visit osl.com.
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