OSL Group (863) H1 2024 earnings summary

Executive summary

• Achieved significant operational improvements and business optimization following strategic investment by BGX, including leadership changes and product upgrades.

• IFRS income from digital assets and blockchain platform business rose 17.7% YoY to HK$123.8 million for 1H2024.

• Reinforced leadership in the digital asset sector, with inclusion in the MSCI Global Small Cap Index in May 2024 and MSCI Hong Kong Index effective 31 May 2024.

• Appointed as digital asset trading platform and sub-custodian for Hong Kong’s first spot Bitcoin and Ethereum ETFs.

• Completed disposal of Mainland China business park management segment in March 2024.

Financial highlights

• IFRS income for 1H2024 was HK$123.8 million, up HK$18.6 million year-over-year.

• IFRS loss from continuing operations reduced by 90.2% to HK$9.6 million from HK$98.9 million in 1H2023.

• Adjusted non-IFRS income was HK$65.6 million, slightly down from HK$67.1 million in 1H2023.

• Loss per share from continuing operations was HK$0.02 (1H2023: HK$0.23).

• Net loss for the period was HK$9.6 million, a significant improvement from HK$98.9 million in 1H2023.

Outlook and guidance

• Plans to accelerate Asia-Pacific expansion through investments and partnerships, focusing on high-growth digital asset markets.

• Intends to enhance retail business and digital economy ecosystem, including SaaS and tokenized products.

• Commitment to high compliance standards and further strengthening global leadership in digital asset trading.