ChainCatcher Message, Hong Kong listed company New Fire Technology released a positive profit forecast for the period ending September 30, 2024, disclosing an expectation of turning profitable for the entire year by the end of September, with an estimated net profit of approximately HKD 60 million. The company recorded a net loss of approximately HKD 289 million for the same period in 2023.

New Fire Technology pointed out that the expected net profit mainly comes from the profit of approximately HKD 96.3 million generated from the sale of FTX claims completed in June this year; a continuous strengthening of cost management has led to a reduction in administrative expenses of about 44% compared to last year; and benefiting from the rise in virtual asset prices and the continuous increase in total assets under fund management, both performance fee income and management fee income have increased, driving gross profit growth of approximately HKD 34 million.