mF International (MFI) investor relations material

Executive summary

• Achieved a significant strategic shift in 2025, raising $500 million via a private placement to fund a digital asset treasury strategy focused on Bitcoin Cash (BCH) and other cryptocurrencies, alongside plans for BCH self-mining and a digital asset-denominated life insurance business.

• Legacy business in financial trading solutions (m-FINANCE) continued to generate revenue, but the company’s future growth is now tied to digital asset operations and related financial services.

• Management team strengthened with experienced executives in fintech and digital assets, and a new equity incentive plan was adopted.

Financial highlights

• Revenue for 2025 was HK$33.8 million (US$4.35 million), up 29.7% from 2024, driven by increased subscriptions, white label, and customization services.

• Net income for 2025 was HK$78.7 million (US$10.1 million), a sharp turnaround from a net loss of HK$20.2 million in 2024, primarily due to investment gains from digital assets.

• Gross profit margin declined to 29.6% in 2025 from 47.2% in 2024, reflecting higher costs related to employee compensation, outsourcing, and amortization.

• Total assets at year-end 2025 were HK$4.04 billion (US$519 million), with digital assets and stablecoins comprising over 94% of total assets.

• Cash and restricted cash at year-end 2025 totaled HK$223.4 million (US$28.7 million), up from HK$22.0 million in 2024, mainly due to PIPE proceeds.

Outlook and guidance

• Plans to expand digital asset treasury strategy with in-house BCH self-mining and to launch a digital asset-denominated life insurance business, pending regulatory approval in Bermuda.

• Management expects future results to be highly sensitive to digital asset market volatility, especially BCH and BTC prices.

• No further dividends are planned as earnings will be retained to fund growth and expansion.