The Hong Kong-listed company Boyaa Interactive reported a year-on-year profit growth of 1130% in the first quarter due to reasons such as purchasing cryptocurrencies
ChainCatcher news, Hong Kong-listed company Boyaa Interactive announced its first-quarter financial report. The data shows that for the three months ending March 31, 2024, the profit attributable to the company's owners is expected to increase by approximately 1120% to 1130% compared to the three months ending March 31, 2023. Its Q1 profit for 2023 was approximately RMB 28.7 million. The company stated that one of the main reasons for the increase in profit is the rise in the fair value of digital assets for the group for the three months ending March 31, 2024.It is reported that Boyaa Interactive previously stated in August 2023 that the board had approved a budget of $5 million to purchase cryptocurrencies such as BTC and ETH. In December of the same year, the company held a special shareholders' meeting, resolving to approve potential cryptocurrency purchases totaling no more than $100 million. In April 2024, the company authorized the purchase of virtual assets amounting to $100 million.