Group 1 - OSL Group has completed all conditions precedent for the sale agreement, with completion set for September 22, 2025 [1] - Following the completion, the company will indirectly hold 90% of the issued shares of the target company, which in turn holds 95% and 99% of the issued shares of its subsidiaries respectively [1] - The financial performance of the target company and its subsidiaries will be consolidated into the group's financial statements [1] Group 2 - The company has issued 9.2662 million consideration shares at a price of HKD 12.68 per share, representing approximately 1.24% of the enlarged issued share capital post-issuance [1]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 之 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司證券之邀請或要約。 OSL Group Limited 完成收購事項 董事會欣然宣佈，買賣協議所有先決條件已獲達成，故根據買賣協議的條款及條 件，完成已於二零二五年九月二十二日落實。於完成後及本公告日期，本公司間 接 持 有 目 標 公 司 已 發 行 股 份 總 數 之 90 % ， 而 目 標 公 司 則 分 別 持 有 附 屬 公 司 1 已 發 行股份之95 %及附屬公司2已發行股份之99 %。因此，目標公司及附屬公司已各自 成為本公司間接非全資附屬公司，而目標集團的財務業績將綜合計入本集團之綜 合財務報表內。 根 據 買 賣 協 議 ， 本 公 司 已 按 發 行 價 每 股 代 價 股 份 1 2. 6 8 港 元 向 賣 方 配 發 及 發 行 9,266,168股代價股份，佔緊 ...

Group 1 - The core viewpoint of the report is that OSL Group (00863) is projected to achieve revenues of HKD 6.7 billion, HKD 11.9 billion, and HKD 18.1 billion for the years 2025, 2026, and 2027 respectively, with a target price set at HKD 21 and an initial "Buy" rating [1] - OSL's revenue composition is primarily driven by digital asset trading income, which accounted for 51% of total revenue in H1 2025, with a trading volume of HKD 68.2 billion, representing a year-on-year increase of 200% [1] - As of the end of H1 2025, OSL's custodial assets reached HKD 5.7 billion, reflecting a year-on-year growth of 50% [1] Group 2 - OSL is recognized as the first compliant digital asset exchange in Hong Kong, having obtained the first digital asset trading platform license issued by the SFC, positioning itself ahead in the compliance process [1] - The company is expected to benefit directly from the ongoing prosperity of the Web 3.0 ecosystem in Hong Kong, being the only platform in the market that offers a full suite of customizable solutions including RFQ and Orderbook [1] - OSL has established deep partnerships with over 50 licensed brokers and banks in Hong Kong, leading in trading volume market share, with its partnered ETFs accounting for approximately 64% of the managed assets in the Hong Kong digital asset spot ETF market as of December 31, 2024 [1] Group 3 - The company's growth is driven by both organic growth and strategic acquisitions, with the new business OSLPay officially launched in April 2025, generating revenue of HKD 55.9 million in H1 2025, which constitutes 29% of total revenue, primarily from Europe [2] - Payment services are expected to become a key focus area for the company, covering deposit and withdrawal channels as well as cross-border payments [2] - OSL has obtained licenses in regions such as Australia, Japan, and Italy, and plans to acquire Banxa in June 2025, which holds over 40 licenses/registrations globally [2]

Group 1 - The core viewpoint of the report is that OSL Group is expected to see significant revenue growth in the coming years, with projected revenues of HKD 6.7 billion, HKD 11.9 billion, and HKD 18.1 billion for 2025, 2026, and 2027 respectively, and a target price of HKD 21, initiating coverage with a "Buy" rating [1] - OSL's revenue composition is primarily driven by digital asset trading income, which accounted for 51% of total revenue in the first half of 2025, achieving a trading volume of HKD 68.2 billion, representing a year-on-year increase of 200% [1] - As of the end of the first half of 2025, OSL's custodial assets reached HKD 5.7 billion, reflecting a year-on-year growth of 50% [1] Group 2 - The company is the first compliant digital asset exchange in Hong Kong, having obtained the first digital asset trading platform license from the SFC, positioning itself favorably in the growing Web 3.0 ecosystem in Hong Kong [1] - OSL is the only platform in the Hong Kong market that offers a full suite of customizable solutions including RFQ and Orderbook, and has established deep partnerships with over 50 licensed brokers and banks in Hong Kong, leading in trading volume market share [1] - As of December 31, 2024, OSL's partnered ETFs accounted for approximately 64% of the managed assets in the Hong Kong digital asset spot ETF market [1] Group 3 - The company is driven by both organic growth and strategic acquisitions, with the new business OSLPay set to launch in April 2025, which generated HKD 55.9 million in revenue in the first half of 2025, accounting for 29% of total revenue, primarily from Europe [2] - OSL is expanding its global exchange footprint, having obtained licenses in Australia, Japan, and Italy, and plans to acquire Banxa, which holds over 40 licenses/registrations globally [2] - In August 2025, OSL officially received a full license for digital asset business from the Bermuda Monetary Authority and launched a global exchange [2]

Core Viewpoint - The stablecoin concept is experiencing a rise in various companies, driven by the Hong Kong government's push for tokenized deposits and asset transactions [1] Group 1: Market Performance - Multiple companies in the stablecoin sector have seen significant stock price increases, including: - Multi-Point Intelligence (02586) up 6.09% to HKD 10.46 - Yao Cai Securities Financial (01428) up 5.85% to HKD 9.95 - OSL Group (00863) up 5% to HKD 14.17 - Lianyi Rong Technology-W (09959) up 3.07% to HKD 3.36 - Yunfeng Financial (00376) up 2.25% to HKD 5.9 [1] Group 2: Government Initiatives - On September 17, Hong Kong Chief Executive John Lee presented his fourth policy address, indicating that the Hong Kong Monetary Authority will promote commercial banks to launch tokenized deposits and facilitate real tokenized asset transactions [1] - The initiatives include using tokenized deposits for settling tokenized money market funds, assisting the government in normalizing tokenized bond issuance, and encouraging banks to enhance risk management through regulatory sandboxes [1] Group 3: Industry Outlook - According to Everbright Securities, third-party payment institutions have become deeply embedded in the payment service ecosystem, playing a crucial role in cross-border RMB settlement and multi-currency transactions [1] - The expectation is that stablecoins will drive the global expansion of RMB cross-border payment infrastructure and diversify application scenarios, leading to potential revenue growth for third-party payment companies [1]

SUBSCRIPTION AGREEMENT RELATING TO THE SUBSCRIPTION OF SHARES IN THE CAPITAL OF OSL GROUP LIMITED OSL 集團有限公司 LEGAL 4857-0015-9868v.4 | Clause | Page | | --- | --- | | 1. | INTERPRETATION 1 | | 2. | SUBSCRIPTION 9 | | 3. | CONDITIONS 9 | | 4. | COMPLETION 10 | | 5. | COMPANY WARRANTIES 12 | | 6. | LOCK-UP UNDERTAKINGS 12 | | 7. | SUBSCRIBER WARRANTIES 13 | | 8. | TERMINATION 13 | | 9. | CONFIDENTIAL INFORMATION 14 | | 10. | ANNOUNCEMENTS 15 | | 11. | COSTS AND TAXES 15 | | 12. | GENERAL 15 | | 13. | ENTIRE A ...

OSL Group Limited (the "Company") — Notice of publication of (i) Circular dated 8 September 2025 and (ii) Notice of Extraordinary General Meeting (the "Current Corporate Communications") on the Company's website The English and Chinese versions of the Company's Current Corporate Communications are available on the Company's website at group.osl.com and the website of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") at www.hkexnews.hk respectively (the "Website Version"). The Company strongly r ...

OSL Group Limited OSL集團有限公司 OSL Group Limited (the "Company") — Notice of publication of (i) Circular dated 8 September 2025 (ii) Notice of Extraordinary General Meeting; and (iii) Proxy Form (the "Current Corporate Communications") on the Company's website The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at group.osl.com and the website of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") at www.hkexnews.hk respective ...

OSL Group Limited OSL集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：863） 二 零 二 五 年 九 月 二 十 六 日 舉 行 之 股 東 特 別 大 會 （及 其 任 何 續 會）適 用 之 代 表 委 任 表 格 | 本 代 表 委 任 表 格 | | --- | | (附 註1) 有 關 之 股 份 數 目 | （附 註5） ： 附 註： 1. 請 填 上 以 閣 下 名 義 登 記 之 股 份 數 目。如 未 有 填 上 股 數，則 本 代 表 委 任 表 格 將 被 視 為 與 本 公 司 股 本 中 全 部 以 閣 下 名 義 登 記 之 股 份 有 關。 個 人 資 料 收 集 聲 明 地 址 為 為OSL集 團 有 限 公 司（「本 公 司」）股 本 之 登 記 持 有 人，茲 委 任 （附 註3） 地 址 為 或 如 其 未 能 出 席，則 委 任 大 會 主 席 為 本 人╱吾 等 之 代 表，出 席 本 公 司 訂 於 二 零 二 五 年 九 月 二 十 六 日（星 期 五）上 午 十 時 三 十 分 假 座 香 港 銅 鑼 灣 希 慎 道33號 利 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 通 告 之 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 通 告 全部或任何部份內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 OSL Group Limited OSL集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：863） 股 東 特 別 大 會 通 告 除 另 有 指 明 者 外，本 通 告 所 界 定 的 詞 彙 與 本 公 司 日 期 為 二 零 二 五 年 九 月 八 日 的 通 函（「通 函」）所 界 定 者 具 有 相 同 涵 義。本 通 告 所 載 決 議 案 詳 情 載 於 通 函 內。 茲 通 告OSL集 團 有 限 公 司（「本 公 司」）謹 訂 於 二 零 二 五 年 九 月 二 十 六 日（星 期 五） 上 午 十 時 三 十 分 假 座 香 港 銅 鑼 灣 希 慎 道33號 利 園 一 期39樓 舉 行 股 東 特 別 大 會（「股 東 特 別 大 會」）或 其 任 何 ...