Business
OSL : Announces 2024 Annual Results
OSL : Announces 2024 Annual
About this update from Osl Group Limited
[{"type":"text","content":"\n Record-high Revenue with Positive Profit for 2024\n (Hong Kong, 25 March 2025) - OSL Group Limited (HKEX: 863, \"OSL\", together with its subsidiaries, the \"Group\"), Asia's leading regulated digital asset platform, today announced its financial results for the year ended December 31, 2024 (the \"Year\").\n 2024 Financial HighlightsRevenue reached a record-high of HK$375 million, an increase of 79% year-over-year.\n Profit from continuing operations reached HK$55 million, a significant turnaround from a loss of HK$250 million in 2023.\n Total comprehensive income reached HK$168 million, compared to total comprehensive loss of HK$266 million in 2023.\n \n 2024 Operational HighlightsDigital assets markets business income was HK$283 million, an increase of 73% year-over-year. Key revenue streams included OTC trading, RFQ, exchange business, and custody services.\n Digital assets technology infrastructure business income was HK$92 million, a remarkable increase of 415% year-over-year, driven primarily by SaaS offerings.\n Total transaction volume surpassed HK$100 billion, an increase of 16% compared to 2023.\n Total assets under custody reached HK$5 billion, a 5.6-fold increase compared to 2023.\n Strong ETF performance - As of December 31, 2024, OSL Group held approximately 64% of the assets under management for Hong Kong's digital asset ETFs, showcasing its leadership in the sector.\n \n 2024 Strategic Milestones & Operational Progress\n 2024 was a transformative year for OSL Group, highlighted by an accelerating international expansion, expanding product offerings, assembling a team of experts across digital assets, technology, and traditional finance, and a strategic brand refresh aimed at driving future growth.\n \n \n The Group expanded its product offerings in 2024 to lay the foundation for the next phase of growth going forward. Notably, in December 2024, OSL Group announced to invest up to US$30 million to boost development of PayFi ecosystem, further underscoring its commitment to developing on/off-ramps, cross-border payments, and technical support for robust payment infrastructure. In addition, OSL Group successfully spearheaded the launch of Asia's first spot digital asset ETFs in partnership with China Asset Management (Hong Kong) and Harvest Global Investments Limited in 2024.\n \n \n OSL Group accelerated its...