The Hong Kong listed company New Fire Group Holdings Limited (Stock Code: 01611.HK, formerly known as New Fire Technology Holdings Limited, hereinafter referred to as "New Fire Group" or "the Group") announced its core business progress for the period ending October 2026. The Group's subsidiary, the Japanese digital asset exchange BitTrade, achieved monthly revenue balance for the first time in October, with commission income covering monthly operating expenses, demonstrating continuous improvement in business scale effects and operational efficiency. During the same period, the digital asset market experienced adjustments, with Bitcoin prices decreasing by approximately 7.32% month-on-month. In the context of market volatility, the Group's asset management scale increased month-on-month by approximately 2.3%, rising from about $221 million in September to about $226 million in October. Excluding the impact of falling cryptocurrency prices on valuation, the Group's asset management scale in October showed a month-on-month growth of 9.5%, reflecting the resilience of the Group's digital asset business and client asset allocation needs.
BitTrade Achieves Monthly Revenue Balance, Custody and Client Management Assets Totaling HKD 839 Million
According to public information, BitTrade achieved monthly revenue balance for the first time in October, covering monthly operating expenses with commission income. As of October 31, 2026, BitTrade's total custody assets and client management assets amounted to approximately HKD 839 million, equivalent to about $107 million, with the number of registered users reaching 309,674. BitTrade continues to expand its digital asset trading, custody, and client management related businesses while continuously improving platform operating efficiency and customer service capabilities. Currently, BitTrade ranks among the top five licensed digital asset exchanges in Japan and has developed a growth plan aimed at entering the top three in Japan. As demand for secure, compliant, and convenient digital asset services continues to rise in the Japanese market, BitTrade's business scale effects are gradually emerging.
The Group will continue to improve BitTrade's trading and customer service systems, focusing on enhancing user activity, expanding client asset scales, promoting diversification of financial products, and deepening applications of artificial intelligence (AI) technologies as core strategies to continuously strengthen market competitiveness, aiming to build BitTrade into a comprehensive financial platform that integrates digital asset trading, wealth management, and innovative financial services.
Specifically, BitTrade will continue to optimize trading liquidity, product systems, and user experiences, actively expanding the market for corporate and institutional clients, improving client asset retention rates, and enhancing platform profitability; focusing on exploring contract for difference (CFD) products linked to virtual assets and traditional financial markets like stocks, stablecoin payments and settlements, digital asset-backed financing, and diversified asset management services, while promoting applications such as AI intelligent customer service, AI-assisted trading tools, and intelligent investment analysis services.
Group AUM Grows Against Market Trends, 9.5% Month-on-Month Growth Excluding Cryptocurrency Price Impact
In October, the global digital asset market experienced significant volatility, with Bitcoin prices decreasing by approximately 7.32% month-on-month. Against the backdrop of market adjustments, the Group's managed digital asset scale still reached approximately $226 million. Excluding the impact of simultaneous digital asset price fluctuations on asset valuations, the Group's asset management scale in October showed a month-on-month growth of approximately 9.5%, reflecting robust client asset allocation and capital inflows, with continued demand from institutional and professional investors for specialized digital asset management services.
During the same period, the Group's cryptocurrency trading volume was approximately $74 million, with the number of clients reaching 1,146. As of October 31, the number of institutional clients at the BitTrade exchange was 1,149, with the total number of institutional and professional investor clients reaching 2,295. The Group's clients include global financial institutions, listed companies, family offices, and high-net-worth clients.
As the global regulatory environment continues to tighten, some exchanges face compliance pressures and operational challenges, and the digital asset trading industry may enter an accelerated consolidation phase. Following significant regulatory measures or sanctions against certain platforms, the market is expected to see periodic client migrations and platform clearance, with some small exchanges possibly gradually exiting the market. Meanwhile, client and institutional funds are likely to flow more toward platforms with stable operational capabilities, comprehensive compliance systems, and high brand reputation, in order to reduce trading and asset safety risks.
New Fire Group stated that as the digital asset industry enters an accelerated consolidation phase, compliance capabilities, asset security, and sustainable operational capabilities will become the core of market competition. As a leading digital asset financial services institution in the Asia-Pacific region, the Group will continue to leverage the synergistic advantages of the Hong Kong and Japanese markets, continuously enhancing digital asset custody, asset management, trading execution, and related financial service capabilities, improving risk management and compliance operations, and actively seizing development opportunities brought about by industry consolidation and the upgrading of client needs.
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