New Huo Technology reported a loss of HKD 232 million in its interim financial report, with a loss of HKD 102 million due to the FTX incident

2023-06-01 15:02:59

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ChainCatcher news, Hong Kong's New Fire Technology has released its interim performance report for the period ending March 31, 2023. During the reporting period, the company achieved revenue of HKD 2.506 billion, a year-on-year increase of 612.3% compared to HKD 352 million in 2022. Among this, virtual asset trading and lending contributed HKD 2.386 billion, accounting for as much as 95.21%.

At the same time, the net profit for the reporting period was a loss of HKD 232 million, compared to a loss of HKD 49 million in the same period of 2022. New Fire Technology also stated in the announcement that it recorded a loss of approximately HKD 102.2 million last November due to its inability to withdraw cryptocurrency from FTX.

In addition, New Fire Technology, which has been seeking a virtual asset trading platform license, has successively withdrawn its license applications in Singapore and Hong Kong, citing "business focus and planning adjustments." (source link)

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