OKLink Releases Interim Results: Technology Business Progresses Steadily with 71% Surge in Technology Services Revenue
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OKLink Releases Interim Results: Technology Business Progresses Steadily with 71% Surge in Technology Services Revenue
As of September 30, 2020, OKLink's revenue reached HK$236 million, among which, the technology service revenue increased significantly by 71.6% from HK$8.1 million in the same period of the previous year to HK$13.9 million.
Navigating Web3 tides with focused insightsOn November 27, OKLink (1499.HK) released its interim results for the six months ended September 30, 2020. The financial report showed strong performance, with significant growth in technology service revenue and steady progress in business transformation.
As of September 30, 2020, OKLink achieved revenue of HK$236 million, of which technology service revenue increased sharply by 71.6% year-on-year from HK$8.1 million to HK$13.9 million, raising its proportion within total group revenue. This growth was primarily driven by income from technology development and information technology infrastructure services, reflecting the group's ongoing efforts to explore new opportunities in fintech and information technology, thus accelerating the expansion of its technology services segment.
During the period, gross profit rose to HK$26.4 million, an increase of 21.1% compared to the same period last year; gross margin also improved to 11.2%, up 3.6 percentage points. Notably, although the group remains in a phase of technological development and expansion, the trend of narrowing losses has emerged, with a 34.9% reduction in losses compared to the second half of the previous year.
2020 has been a challenging year globally, with the outbreak of COVID-19, the U.S. election, and geopolitical tensions adding further uncertainty to the global financial and trade environment. However, challenges have come alongside opportunities. In April 2020, China’s National Development and Reform Commission (NDRC) formally defined the scope of "new infrastructure," identifying blockchain-based technologies as a key component. Since then, favorable policies for the blockchain industry have continued to emerge.
Looking ahead, the group is embracing these opportunities and challenges by continuously deepening its expertise in digital and technical consulting, expanding its business segments. Its newly launched product, “Chain Insight,” leverages blockchain technology to assist domestic law enforcement agencies in on-chain investigations, combating illegal activities, and enabling smart policing. By continuously broadening diversified blockchain applications, advancing blockchain-based new infrastructure, and exploring the industrial value of “Blockchain+,” the company is positioning itself at the forefront of the industry, with promising revenue potential in this area.
Meanwhile, the group’s other businesses—including foundation engineering and supporting services, and construction waste treatment services—have developed steadily, generating stable income and sufficient cash flow that support the group’s broader business expansion and long-term growth.
Going forward, the group will stay true to its mission, continuing to focus on upgrading and transforming its operations within the fintech and blockchain industries, maintaining its technological leadership in the blockchain sector, capitalizing on the favorable trends of the tech era, increasing the contribution of technology services to overall revenue, and delivering long-term returns to investors.
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