TechFlow news, on August 16, Hong Kong-listed OSL Group released its interim results announcement for the six months ended June 30, 2024, with key financial highlights as follows:
1. International Financial Reporting Standards (IFRS) revenue from digital asset and blockchain platform operations amounted to HK$123.8 million, representing a year-on-year increase of 17.7% compared to HK$105.2 million in the prior year;
2. Loss from continuing operations significantly decreased by 90.2% year-on-year from HK$98.9 million to HK$9.6 million;
3. Digital asset balances include approximately HK$179 million (as of December 31, 2023: HK$639 million) of digital assets held by the Group in designated client accounts under various contractual arrangements, as well as approximately HK$258 million (as of December 31, 2023: HK$184 million) of proprietary digital assets held by the Group. These balances are measured at fair value through profit or loss;
4. As of June 30, 2024, the fair value of certain digital assets received from and held on behalf of clients by OSL Digital Securities Limited, a wholly-owned subsidiary and a Securities and Futures Commission (SFC) licensed corporation in Hong Kong, was approximately HK$3.612 billion (as of December 31, 2023: HK$874 million).
