Group 1 - The core viewpoint of the article highlights the strong performance of cryptocurrency-related stocks in the Hong Kong market, with notable gains in several companies [1] - Blue Ocean Interactive (08267.HK) saw an increase of 9.33%, indicating a significant rise in investor interest [1] - OSL Group (00863.HK) and Boyaa Interactive (00434.HK) also experienced gains of 4.94% and 4.36% respectively, reflecting a positive trend in the sector [1][1]

Group 1 - The virtual asset market is rapidly developing, with Hong Kong accelerating its efforts to establish itself as an international virtual asset center, attracting Chinese brokerage firms to enter the market [1] - The Hong Kong government views Web3.0 and virtual assets as core strategies to reshape financial competitiveness, having released the "Virtual Asset Policy Declaration" in 2023 to support industry innovation [1] - The Hong Kong Securities and Futures Commission (SFC) has tightened regulations, implementing a "dual license" system for virtual asset trading platforms, with 11 institutions already obtaining formal licenses [1] Group 2 - Hong Kong is exploring the issuance of an official stablecoin, the "Digital Hong Kong Dollar," aimed at providing an anchor asset for the virtual economy and enhancing cross-border payment capabilities [2] - Companies listed in Hong Kong are accelerating their layout in the Web3.0 sector, covering various areas such as trading platforms, data analysis, and asset tokenization [2] - OSL Group, as Hong Kong's first licensed virtual asset trading platform, reported a 79% year-on-year revenue increase to HKD 375 million in 2024, with a trading volume exceeding HKD 100 billion [2] Group 3 - Other Hong Kong-listed companies, such as Boyaa Interactive, Victory Securities, and Blueport Interactive, have also made moves in the cryptocurrency space, with stock price increases of 97%, 176%, and 60% respectively this year [3]

Group 1 - The cryptocurrency concept stocks in the Hong Kong market have shown strong performance, with Okex Chain (01499.HK) rising by 4.84%, Blueport Interactive (08267.HK) also increasing by 4.84%, OSL Group (00863.HK) up by 4%, and Boya Interactive (00434.HK) gaining 1.94% [1] - Blueport Interactive has established the LK CRYPTO division to accelerate its layout in WEB3 and RWA cryptocurrency assets [1]

Group 1 - The stocks of Lianyi Technology-W (09959) fell by 6.17% [1] - OSL Group (00863.HK) experienced a decline of 4.10% [1] - Guotai Junan International (01788.HK) dropped by 3.45% [1] - China Everbright Holdings (00165.HK) decreased by 3.10% [1]

Group 1 - The core viewpoint of the article highlights the continued rise of stablecoin-related stocks in the Hong Kong market, with notable increases in share prices for companies like Derlin Holdings, OSL Group, Guotai Junan International, and China Everbright Holdings [1] - Derlin Holdings (01709.HK) saw a price increase of 4.76%, while OSL Group (00863.HK) rose by 2.51%, Guotai Junan International (01788.HK) increased by 2.20%, and China Everbright Holdings (00165.HK) went up by 1.11% [1] - The Shanghai State-owned Assets Supervision and Administration Commission held a meeting on July 10 to discuss the development trends and strategies for cryptocurrencies and stablecoins, emphasizing the integration of production and data [1] Group 2 - He Qing, the Secretary and Director of the Shanghai State-owned Assets Supervision and Administration Commission, pointed out the importance of exploring blockchain technology applications in cross-border trade, supply chain finance, and asset digitization [1]

Group 1 - The Hang Seng Index rose by 0.78%, gaining 185 points to close at 24,073 points, while the Hang Seng Tech Index increased by 1.29% [1] - The trading volume in Hong Kong reached HKD 117.2 billion in the morning session [1] - Stablecoin-related stocks surged, with Guotai Junan International rising by 16%, Multi-Point Smart increasing by 8%, and OSL Group also up by 8% [1] Group 2 - Jinyong Investment experienced a 150% surge due to a strategic partnership with AnchorX to explore stablecoin applications [2] - Kuaishou-W saw a 3% increase, with institutions expecting the company's Q2 performance to meet market expectations [2] - Gold stocks rebounded in the morning session, with Tongguan Gold rising by 6% and China Gold International increasing by 3.82% [2] Group 3 - Huitongda Network rose over 7% after applying for full circulation of H-shares, which is expected to enhance stock liquidity and investment attractiveness [3] Group 4 - Basestone Pharmaceuticals-B increased by over 4% after granting commercialization rights for Sugli to Gentili in Western Europe and the UK [4] Group 5 - GCL-Poly Energy rose over 9%, with the polysilicon segment potentially becoming a breakthrough point for reversing internal competition, and the company is expected to achieve profitability [5] Group 6 - China Rare Earth Holdings rose over 7% after a failed transaction involving the sale of an Australian gold mine, and plans to spin off its business through an introduction [6] Group 7 - Hon Teng Precision rose by 8.8%, driven by strong performance in AI servers and iPhone business, with Foxconn showing steady growth in Q2 [7] Group 8 - Zhaoyan New Drug increased by over 10%, assisting in the approval of the restructuring of human coagulation factor VIIa for Chengdu Tianqing [8] Group 9 - Steel stocks saw a midday rally, with Chongqing Steel rising by 11%, as institutions expect improvements in industry supply and demand [9]

Group 1 - The Hong Kong government is set to implement the "Stablecoin Ordinance" in August, which will establish a licensing system for fiat-backed stablecoin issuers in Hong Kong [1][2] - The Financial Secretary, Xu Zhengyu, indicated that the number of licenses issued will be in the "single digits," with expectations to receive applications after the ordinance takes effect [2] - There are currently at least nine institutions interested in applying for stablecoin licenses, including three that are part of the Hong Kong Monetary Authority's stablecoin issuer sandbox [2] Group 2 - Following the announcement, Hong Kong's stablecoin concept stocks saw significant gains, with notable increases in share prices for companies such as Guotai Junan International (+10.77%) and Yika (+9.87%) [3] - Stablecoins are expected to facilitate cross-border payments and reduce transaction costs, serving as a local currency alternative in specific regions [4] - Analysts from various securities firms suggest that the stablecoin market is expanding beyond cryptocurrency trading into broader payment applications, indicating a rapid increase in market size and trading activity [4]

Executive Compensation - The total compensation for CEO Mr. Cui Song for the year ending December 31, 2024, is HKD 1,960,000, which includes HKD 1,918,000 in salary and allowances, and HKD 42,000 in retirement plan contributions[4] Leadership Appointment - The company has appointed Mr. Cui Song as the CEO, effective August 5, 2024[4] Governance Structure - The board of directors includes both executive and non-executive members, ensuring a diverse governance structure[6]

Investment Rating - The report assigns an "Outperform" rating for OSL Group (00863.HK) for the first time [1][4][32] Core Views - The company achieved its first positive net profit in 2024, driven by rapid growth in trading volume and SaaS services, with total revenue reaching HKD 375 million, a year-on-year increase of 78.59% [3][25] - OSL Group is the only listed licensed compliant virtual asset exchange in Asia, providing brokerage services, digital asset custody, and electronic trading platforms [3][7] - The global digital asset trading volume is expected to grow significantly, with OSL's market business revenue projected to reach HKD 283 million in 2024, a 73.3% increase year-on-year [3][25] Summary by Sections Company Overview - OSL Group is the only listed licensed compliant virtual asset exchange in Asia, with a custody asset scale of approximately HKD 5 billion, growing over five times year-on-year [3][7] - The company has successfully obtained multiple licenses, including the first AMLO license in Hong Kong and a digital currency exchange license in Australia [4][11] Financial Performance - In 2024, OSL Group achieved a net profit of HKD 56 million, marking a turnaround from previous losses [25][34] - Revenue is expected to continue growing, with projections of HKD 648 million in 2025 and HKD 1.095 billion in 2026 [25][30] Market Trends - The global digital asset trading volume is projected to reach USD 1,085,710 million in 2024, a year-on-year increase of 43% [3] - The number of individuals holding digital assets globally is expected to grow by 33% year-on-year, with Asia accounting for 327 million holders, a 22% increase [3] Business Expansion - OSL Group is accelerating its global expansion through acquisitions, including the purchase of CoinBest in Japan and plans to acquire a 90% stake in Evergreen Crest Holdings in Indonesia [4][12] - The company aims to enhance its presence in the digital asset market by launching Asia's first digital asset spot ETFs in collaboration with major funds [4][11] Valuation and Investment Outlook - The report anticipates that OSL Group will benefit from the growth of the Web3 industry and its unique position as a licensed trading platform, projecting significant revenue growth in the coming years [5][30] - The estimated price-to-sales ratios for 2025 and 2026 are 12x and 7x, respectively, indicating a favorable valuation compared to peers like Coinbase and Hong Kong Exchanges [30][31]

Core Insights - MoneyHero Limited has announced a strategic partnership with OSL Group to expand its digital asset wealth management services in Hong Kong [1][2] - The collaboration allows MoneyHero users to access a wider range of financial products, including digital asset accounts regulated by the Hong Kong Securities and Futures Commission (SFC) [1] - There is a growing interest in digital assets in Hong Kong, with 8% of retail investors investing in virtual assets in 2023, up from 1% in 2019 [1] Company Summary - MoneyHero aims to leverage its partnership with OSL, a leading regulated digital asset firm in Asia, to enhance its offerings in the digital asset market [2] - The CEO of MoneyHero emphasized the company's commitment to providing reliable and transparent financial solutions, as well as investment opportunities in emerging asset classes [2] - The partnership is expected to significantly support MoneyHero's entry into the digital asset space, given OSL's regulatory compliance and institutional expertise [2] Industry Summary - The demand for diversified financial solutions in Hong Kong is increasing, driven by rising interest in digital assets [1] - The collaboration between MoneyHero and OSL is a response to the growing market and investor interest in digital asset products [1]