OSL Group (863) H2 2025 earnings summary

Executive summary

• Achieved record adjusted non-IFRS income of HK$534.1 million (up 150% YoY) and IFRS income of HK$488.8 million (up 30.4% YoY), driven by stablecoin payment services and OTC business.

• Total transaction volume surged 201% year-over-year to HK$201.2 billion, with 60% involving stablecoins.

• Overseas markets contributed 67% of IFRS income, highlighting strong international expansion.

• Strategic acquisitions (Banxa, OSL Japan, OSL Pay, EvergreenCrest) expanded licensing and market access, positioning as a global stablecoin payment and trading platform.

• Raised $500 million in equity financing in 2025 and early 2026, supporting global expansion and product innovation.

Financial highlights

• Adjusted non-IFRS income rose to HK$534.1 million (+150% YoY); IFRS income reached HK$488.8 million (+30.4% YoY).

• Total transaction volume reached HK$201.2 billion (+201% YoY), with stablecoin transactions accounting for 60%.

• Overseas operations now represent 76% of reported income, demonstrating successful international expansion.

• Staff costs increased to HK$431.3 million and IT costs to HK$102.0 million, reflecting global expansion and integration.

• Other operating expenses grew to HK$277.0 million, mainly due to expansion and M&A activity.

Outlook and guidance

• Plans to broaden stablecoin offerings, invest in next-gen financial infrastructure, pursue global M&A, and scale operations in key markets.

• Focus on expanding stablecoin solutions for enterprise clients and scaling agentic payment solutions for the AI economy.

• Confident in sustaining top-line revenue growth due to diversified global operations and expanded product suite.