PANews reported on December 17 that the Hong Kong-listed company Xinhuo Technology released its annual performance announcement for the year ending September 30, 2024, in which it disclosed:
1. Based on the latest available net asset value of FTX as of September 30, 2024, and referencing the trading prices claimed by FTX, an impairment loss of HKD 85,897,000 has been confirmed and accounted for in the profit and loss for the year ending September 30.
2. As of September 30, 2024, the gross profit is approximately HKD 44.2 million, recording a net profit of approximately HKD 56.3 million.
3. In 2025, in addition to the existing compliant virtual asset fund business under the original license No. 9, a new business will be added to distribute virtual asset (VA) related products to professional investors, including but not limited to virtual asset funds, Bitcoin and Ethereum ETFs, and structured products related to virtual assets. Furthermore, after the approval and upgrade of license No. 4, it is planned to provide virtual asset (VA) consulting services only to professional investors.
