ChainCatcher news, the Hong Kong-listed company New Fire Technology has released a positive profit forecast for the period ending September 30, 2024, disclosing an expected turnaround to profitability for the full year by the end of September, with a projected net profit of approximately HKD 60 million. The company recorded a net loss of about HKD 289 million for the same period in 2023.New Fire Technology pointed out that the expected net profit mainly comes from the approximately HKD 96.3 million generated from the sale of FTX claims completed in June this year; a reduction of about 44% in administrative expenses compared to last year due to ongoing cost management; and benefits from the rise in virtual asset prices and the continuous increase in total assets under fund management, leading to an increase in performance fee income and management fee income, which contributed to a gross profit growth of approximately HKD 34 million.

ChainCatcher news, Andrew Zhang, CTO of New Fire Technology, has been invited to attend the second Asia Vision Forum (hereinafter referred to as "Caixin Asia Forum") held in Singapore from September 25 to 27. The theme of this forum is "Global Challenges, Asian Strategies," which will delve into sustainable economic growth and emphasize the solutions and innovations needed for a shared future in Asia.The Caixin Asia Forum is launched by Caixin International with the support of the Singapore government, and is officially supported by the Singapore Economic Development Board (EDB) and the Singapore Tourism Board (STB). This forum aims to shape an important international agenda and communication platform through a multidimensional perspective from the global, Asian, and Chinese viewpoints, helping the international community better understand the real Asia and China.This forum is expected to attract hundreds of decision-makers, business leaders, and experts from around the world. During the two-day event, participants will engage in extensive discussions, share observations and thoughts, and collectively address the new risks, opportunities, and challenges brought about by global changes. One of the main goals of the forum is to promote positive action through open dialogue. On the third day of the forum, there will also be high-level practical seminars and roadshow activities to further explore topics such as investment in the Southeast Asian region.

ChainCatcher news, according to AASTOCKS, New Fire Technology announced the acquisition of all issued share capital of Avenir Asset Holding for approximately $30.4621 million (about HKD 238 million). The company will pay for this by issuing up to nearly 110 million new shares. Avenir Asset Holding indirectly holds about 84.62% of the issued share capital of BitTrade. Avenir Asset Holding will become a wholly-owned subsidiary of the company, and BitTrade will become an indirect subsidiary of the company. BitTrade is primarily engaged in cryptocurrency trading.The company also acquired approximately 7.69% of the issued share capital of BitTrade from Goldenway for $2.7694 million (about HKD 21.6016 million), and the company will pay for this by issuing up to 9.909 million new shares. The shares mentioned above will collectively account for up to approximately 20.33% of the company's enlarged share capital.It is reported that BitTrade is a licensed virtual currency exchange service provider in Japan. BitTrade has joined the three major self-regulatory associations officially recognized by the Financial Services Agency, which have the ability to formulate and enforce cryptocurrency trading rules and standards in Japan, and can promote the introduction and development of the Japanese security token system. BitTrade is also a member of two associations in the Japanese crypto asset industry.

ChainCatcher news, the "FireNow" Asia Web3.0 Institutional Summit hosted by New Fire Technology Holdings Limited (referred to as "New Fire Technology", stock code: 1611.HK) officially opened at the Ritz-Carlton Hotel in Hong Kong. At the event, Zhang Li, Executive Director and CFO of New Fire Technology, delivered a keynote speech on the topic "Thoughts on Web3 from a User Perspective."Zhang Li analyzed on-site that the needs confirmed by Web3 users so far can be divided into three categories: 1. Payment, which addresses some cross-border/convenient/poor region payment issues; 2. Speculation/Investment: redistributing wealth with a huge technological backstory; 3. Web3 Native: mining machines, oracle, stablecoins, wallets, etc., supporting the construction of Web3 infrastructure.Zhang Li believes that Web3 does not need so many public chains, but the Crypto industry requires a wealth effect. Public chains without long-term applications are essentially MEME, which is somewhat related to the low cost of asset issuance in the Crypto industry and the lack of regulatory compliance. Zhang Li also stated that there are still many gaps in actual applications in the industry, and more Web3 applications should be encouraged through various effective means.

ChainCatcher news, Hong Kong listed company New Fire Technology has released the latest announcement stating that it has signed an asset management service framework agreement with its actual controller Li Lin, to provide asset management services for its affiliated funds, including ABCDE Fund, New World Fund, New Era Fund, and MS Fund, with management fees ranging from 1% to 2%.The announcement disclosed that as of June 30 this year, the total assets under management of ABCDE amounted to 40 million USD, with Li Lin holding 31.25% of the equity. The total assets under management of New World Fund were 20 million USD, with Li Lin holding 50.00% of the equity. The total assets under management of MS Fund were 18.1 million USD, with Li Lin holding 96.13% of the equity.According to RootData, the ABCDE has a cumulative number of investment portfolios of 32, including 12 leading projects, such as Bitlayer, bitSmiley, Surf Protocol, UTXO Stack, etc.

ChainCatcher news, the first "FireNow" Asia Web3.0 Institutional Summit hosted by New Fire Technology Holdings Limited (referred to as "New Fire Technology", stock code: 1611.HK) will officially open on August 13 at The Ritz-Carlton, Hong Kong. This summit invites top entrepreneurs, investors, experts, and scholars from the global Web3 industry to gather in Hong Kong to discuss the hottest topics and cutting-edge investment & technology trends in the current Web3 industry.The conference will focus on six hot topics, including exploring the "Hong Kong Plan" for spot ETFs on virtual assets, how to build a future-oriented Bitcoin ecosystem, investment strategies for the second half of the cycle, how crypto asset management can enter traditional markets, the security of virtual assets, and the compliance journey of virtual asset exchanges, aiming to provide an open and inclusive communication platform for Web3 builders in Asia and around the world.The conference has invited industry leaders such as Professor Wang Yang, Vice President (University Advancement) of the Hong Kong University of Science and Technology, Sailor Zhong, founder of ChainUp, BMAN, partner at ABCDE, Wang Xiaoqi, CEO of Hashkey Exchange, Sun Yuchen, founder of TRON, and Dr. Yu Jianing, president of Uweb, along with many representatives from well-known institutions to attend this conference.The official registration portal for the first "FireNow" Asia Web3.0 Institutional Summit is now online, click to register now.

ChainCatcher news, SINOHOPE (stock code: 1611.HK) announced that its MPC WaaS product has officially completed the integration with the Bitcoin staking protocol Babylon. SINOHOPE MPC WaaS users can seamlessly and efficiently stake BTC assets through Babylon's Bitcoin staking API interface, continuously enhancing the utilization of users' BTC assets.It is reported that Babylon has introduced the native Bitcoin staking concept for the first time, allowing users to stake Bitcoin for PoS blockchains and earn rewards. Through SINOHOPE's Babylon Staking API interface, users can easily and conveniently connect to Babylon's Bitcoin staking protocol, which will greatly facilitate Bitcoin re-staking service providers and asset management platforms. SINOHOPE MPC WaaS's API provides users with comprehensive interface support, including Babylon staking transaction construction, transaction pre-signing, and staking transaction inquiries.SINOHOPE's MPC WaaS product is a complete set of MPC digital asset custody wallet infrastructure aimed at Web3 developers, helping users build and integrate MPC wallets more securely and quickly. SINOHOPE and Babylon hope to promote the development of Bitcoin staking and re-staking through this collaboration, jointly creating a more secure and efficient Bitcoin liquidity ecosystem for users.

ChainCatcher news, Hong Kong listed company New Fire Technology announced that it will sell all claims rights at 107.8% of the original claim amount from FTX, totaling 19.5 million USD.The announcement stated that Hbit Limited is the seller, and Ceratosaurus Investors, L.L.C. is the buyer. The seller has agreed to sell, and the buyer has agreed to purchase all rights, ownership, and interests of the seller in the FTX claims.Previous news reported that Hong Kong listed company New Fire Technology announced that the management believes the group could also realize FTX deposits through transfer in the near future. The company has received several competitive offers from potential transferees regarding the transfer of FTX claims. If the FTX claims can be transferred by the relevant transferees, the recoverable amount could increase from approximately 39.4% in September 2023 to about 70% in January 2024.

ChainCatcher message, according to official news from New Fire Technology, our company has recently noticed that an external company is conducting offline OTC trading services in Hong Kong under the name of New Fire Technology. We hereby clarify that we have never authorized any external company to conduct any form of OTC acceptance trading in Hong Kong. If any non-New Fire Technology staff introduce or promote OTC trading services to you under the name of New Fire Technology, please be very cautious and report the situation through the official information disclosure channels of New Fire Technology (official Twitter, official website, consultation email). New Fire Technology reserves the right to protect its legal rights through legal means. Our company's official and only address in Hong Kong is Room 702-3, 7th Floor, 100 Queen's Road Central, Hong Kong.

ChainCatcher news, Hong Kong-listed company New Fire Technology announced that due to the FTX incident being a special situation in the industry, and according to the company's observations, several FTX creditors have recently been restricted in cashing out their FTX claims through the transfer of their FTX deposits. The management believes that the group may also be able to cash out its FTX deposits in the near future through transfers.New Fire Technology stated that the company has received several competitive offers from potential transferees regarding the transfer of FTX claims. If the FTX claims can be transferred by the relevant transferees, the recoverable amount could increase from approximately 39.4% in September 2023 to about 70% in January 2024. It is reported that New Fire Technology's frozen assets on the FTX exchange are valued at HKD 141.7 million.

ChainCatcher news, a one-stop digital asset service platform, Hong Kong listed company New Hope Technology Holdings Limited (stock code: 1611.HK, "New Hope Technology SINOHOPE") officially held its 2023 Annual Partner Conference at The Ritz-Carlton, Hong Kong.At the event, Du Jun, Executive Director and CEO of New Hope Technology SINOHOPE, announced that in 2024, New Hope Technology SINOHOPE will offer the basic version of the MPC wallet for free to small and medium-sized enterprises (SMEs). Du Jun stated that New Hope Technology SINOHOPE has always been committed to building a compliant, safe, and efficient infrastructure for the industry, so that SMEs can run faster by standing on the shoulders of New Hope Technology SINOHOPE."In 2023, the greatest investment of New Hope Technology SINOHOPE in product research and development has been in the MPC custody product, which leads in terms of security, quality, and experience. In 2024, we have decided to offer the basic version for free to eligible SMEs, allowing them to integrate with one click and combine flexibly. In the future, New Hope Technology SINOHOPE will continue to launch more foundational products to empower SMEs," Du Jun shared.

ChainCatcher news, a one-stop digital asset service platform, Hong Kong listed company Sinohope Technology Holdings Limited (stock code: 1611.HK, "Sinohope Technology") officially held its 2023 Annual Partner Conference at The Ritz-Carlton, Hong Kong.At the conference, Sinohope Technology announced the official launch of the "Sinohope Technology Bitcoin Ecosystem Support Program." The launch ceremony was jointly announced by Sinohope Technology's Executive Director and CEO Du Jun, ABCDE Capital Co-founder and Partner BMAN, ChainUp Co-founder Zhong Gengfa, and Uweb Founder and Principal Yu Jianing.The "Sinohope Technology Bitcoin Ecosystem Support Program" combines Sinohope Technology's newly launched one-stop Web3 product solution with ABCDE Capital's special investment fund, providing underlying technical support and financial support for Bitcoin ecosystem developers, helping outstanding developers explore and innovate within the Bitcoin ecosystem, and enabling developers to build industry-leading business applications on a more mature and convenient technological foundation without pressure.

ChainCatcher news, SINOHOPE Executive Director and CEO Du Jun believes that the approval of the Bitcoin spot ETF means that Bitcoin has better compliance entry conditions. This move provides traditional investors with a more convenient and secure way to invest in Bitcoin. The Bitcoin spot ETF will continue to attract a large amount of institutional funds into the cryptocurrency market, which is not only an important sign of Bitcoin moving towards the mainstream but may also herald a new growth cycle for the cryptocurrency market.Du Jun stated that Hong Kong is the next important potential market to approve the listing and trading of Bitcoin spot ETFs after the United States. In December last year, the Hong Kong Securities and Futures Commission issued a circular regarding the recognition of funds investing in virtual assets and stated that it is "ready to accept applications for the recognition of virtual asset spot ETFs." SINOHOPE's subsidiary, SINOHOPE Asset Management, is preparing the relevant ETF application work.As a local Web3 listed company deeply rooted in Hong Kong, SINOHOPE is a leading global one-stop digital asset service platform with a compliance first-mover advantage. In the future, it will continue to leverage its years of accumulated experience in virtual asset fund management to contribute to the successful listing of virtual asset spot ETFs in Hong Kong.

ChainCatcher news, Hong Kong listed company New Fire Technology announced its annual performance announcement for the year ended September 30, 2023. The financial report shows that New Fire Technology Group recorded a net loss of approximately HKD 288.7 million for the year 2023, with revenue from continuing operations of approximately HKD 2.834 billion, a year-on-year decrease of 68.7%; gross profit of HKD 10.389 million, a year-on-year decrease of 90.6%; and net profit expanded from HKD 200 million in 2022 to HKD 287 million, a year-on-year increase of 43.92%.New Fire Technology stated that the loss was mainly due to increased expenses in developing new business, the inability to withdraw cryptocurrency assets from the cryptocurrency trading platform FTX, an impairment loss provision of approximately HKD 86 million, and increased one-time expenses resulting from the company's human resources restructuring and cost management plan.

ChainCatcher news, the Hong Kong-listed company New Fire Technology has issued a profit warning for the year ending September 30, 2023. According to a preliminary review of the group's unaudited consolidated management accounts for the year ending September 30, 2023, and the information currently available to the company, it is expected that the group will record a net loss of not less than approximately HKD 280 million for the year ending September 30, 2023, compared to a net loss of approximately HKD 200 million for the year ending September 30, 2022.The announcement indicates that the increase in net loss is mainly due to (1) the inability to withdraw cryptocurrency assets from the cryptocurrency exchange FTX, resulting in an impairment loss provision of approximately HKD 86 million; (2) one-time severance expenses related to the restructuring of company personnel, with costs related to the cost management plan amounting to approximately HKD 15 million. However, these accounts have not yet been reviewed or audited by the company's auditors, and New Fire Technology is still finalizing its full-year performance for the year ending September 30, 2023. The company expects to announce its consolidated financial results for the year ending September 30, 2023, by the end of December 2023.

ChainCatcher news, Hong Kong licensed virtual asset trading platform HashKey Exchange announced the formal strategic cooperation with New Fire Technology Holdings Limited and signed an MOU agreement. Both parties will carry out in-depth cooperation in various cutting-edge industry sectors such as virtual asset secure storage, custody, OpenLoop clearing and settlement network, virtual asset compliance funds, STO, RWA, and public chain technology.Both parties agreed to leverage their years of experience in Web3 products and solutions related to virtual asset storage, custody, and payment at the product solution level for complementary advantages, helping customers conveniently experience virtual asset services. In the future, they do not rule out jointly developing customized solutions for the market or important clients. Regarding the cooperation on virtual asset compliance funds, New Fire Technology's subsidiary New Fire Asset Management (Hong Kong) Limited, within the scope permitted by relevant regulations, will also conduct compliant virtual asset trading on HashKey Exchange based on the fund strategy of its compliant fund products.