TechFlow news, on December 17, Hong Kong-listed company Sino-Group Technology (1611.HK) released its financial results for the fiscal year 2024 (ended September 30, 2024). The report showed that the company recognized a reversal of FTX impairment loss amounting to HK$85.897 million, which was included in current-period earnings. It achieved a gross profit of HK$44.2 million and a net profit of HK$56.3 million for the year, successfully turning a loss into profit.
In 2025, Sino-Group Technology will expand its existing Type 9 license (providing asset management services) to offer distribution services to professional investors, including Bitcoin and Ethereum ETFs, virtual asset funds, and structured products. In addition, the company is applying for an upgrade to a Type 4 license (providing advice on securities), and upon approval, will launch virtual asset advisory services for professional investors.
