Foresight News reports that the Hong Kong-listed company New Fire Technology has announced a positive profit forecast for the year ending September 30, 2024, expecting to turn a profit with a projected net profit of approximately HKD 60 million by the end of September. The company recorded a net loss of approximately HKD 289 million for the same period in 2023. New Fire Technology stated that the expected net profit mainly comes from the gain of approximately HKD 96.3 million generated after the completion of the sale of FTX claims in June this year, as well as a reduction of about 44% in administrative expenses due to ongoing improvement in cost management compared to last year; additionally, the rise in virtual asset prices and the continued increase in total assets under fund management have led to an increase in performance fee revenue and management fee revenue, contributing to a gross profit increase of approximately HKD 34 million.