In 2024, revenue reached a historic high of HKD 375 million, a year-on-year increase of 79%.

OSL Group Limited (HKEX: 863, "OSL"), the only publicly listed company in Hong Kong focused on digital assets, along with its subsidiaries ("the Group"), today announced its financial performance for the year ended December 31, 2024 ("the Year").

2024 Financial Performance Highlights

· Revenue reached a historic high of HKD 375 million, a year-on-year increase of 79%.

· Profit from continuing operations reached HKD 55 million, significantly reversing the loss of HKD 250 million in 2023.

· Total comprehensive income amounted to HKD 168 million, compared to a total comprehensive loss of HKD 266 million in 2023.

2024 Operational Highlights

· Revenue from digital asset market operations was HKD 283 million, a year-on-year increase of 73%. The main revenue sources include over-the-counter trading, request-for-quote (RFQ) trading, exchange operations, and custody services.

· Revenue from digital asset technology infrastructure was HKD 92 million, a substantial year-on-year increase of 415%. The main revenue source includes SaaS services.

· Total trading volume exceeded HKD 100 billion, a year-on-year increase of 16%.

· Total assets under custody reached HKD 5 billion, an increase of 5.6 times compared to 2023.

· Strong ETF performance - As of December 31, 2024, OSL Group accounted for approximately 64% of the assets under management in Hong Kong's digital asset spot ETF market, demonstrating its leadership in this field.

2024 Strategic Milestones and Operational Progress

The year 2024 was transformative for OSL Group, highlighted by accelerated international expansion, expanded product services, an enlarged management team, and a strategic rebranding aimed at driving future growth.

In 2024, the Group expanded its product services, laying the foundation for the next phase of growth. Notably, in December 2024, OSL Group announced an investment of up to USD 30 million to promote the PayFi ecosystem, further emphasizing its commitment to developing deposit and withdrawal channels, cross-border payments, and providing technical support for robust payment infrastructure. Additionally, in 2024, OSL Group collaborated with Huaxia Fund (Hong Kong) and Harvest Global Investments to successfully launch Asia's first digital asset spot ETFs.

In 2024, OSL Group accelerated its international market expansion through a dual approach of organic growth and acquisitions. With a solid regulatory foundation established by obtaining SFC licenses for types 1, 4, 7, and 9 in Hong Kong, the Group obtained its first Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) license in 2024. Internationally, in 2024, it successfully acquired a key digital asset license in Japan through the acquisition of CoinBest KK (now renamed OSL Japan), and also obtained a significant digital asset license in Australia.

In 2024, the Group expanded its management team by bringing in professionals from the digital asset, technology, and traditional finance sectors. Key appointments included: appointing Cui Song as CEO, Zhang Yinghua as Business Director, Chen Derong as Chief Marketing Officer, and Huang Guanwen as Chief Financial Officer. These leaders play a crucial role in driving the Group's strategy and global expansion process.

OSL Group undertook a strategic rebranding to reflect its global positioning, mission, and vision in the rapidly evolving digital asset industry. The newly designed logo and brand image will have high recognition and support its expansion of service scope and business layout in target international markets and the overall industry.

Cui Song, Executive Director and CEO of OSL Group, stated: "2024 has been a transformative and exceptionally efficient year for OSL. Our mission to 'integrate cryptocurrency into the financial system for the benefit of individuals and businesses' has guided us to achieve extraordinary results. With a steadfast commitment to this mission, we have achieved profitability and launched a new global brand image."

Cui Song added: "Our strong performance in 2024 lays a solid foundation for growth in the coming year and enables us to capture the significant opportunities presented by the industry. We will continue to build and expand PayFi services, which are a key element of our digital asset ecosystem. As the international regulatory framework becomes increasingly clear, we will accelerate strategic investments in key regions such as Southeast Asia, Europe, and the Middle East. Furthermore, we will focus on improving operational efficiency and driving compliant and sustainable growth initiatives. This is just the beginning of our journey. We eagerly anticipate achieving greater success in the future and creating new milestones with our investors, partners, and clients."

About OSL Group

OSL Group is at the forefront of the digital asset industry, providing innovative solutions for institutional, professional, and retail investors. With extensive experience in the industry, OSL Group offers comprehensive brokerage, custody, exchange, and SaaS services. As the world's first insured and SFC-licensed digital asset platform in Hong Kong, OSL Group adheres to the highest standards of regulatory compliance and security. Headquartered in Hong Kong, OSL Group has expanded its operations to core regions such as Singapore, Japan, and Australia.

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