Core Insights - Metalpha Technology Holding Limited announced the successful completion of the LSQ Investment Fund SPC – Next Generation Fund I SP, achieving a net asset value (NAV) performance of 375.5% over its two-year investment period, significantly outperforming Bitcoin by 67.3% [1][2]. Company Performance - The Fund, managed by Metalpha's subsidiary LSQ Capital Limited, commenced trading in late March 2023 and concluded in March 2025, demonstrating exceptional investment outcomes through market insight and risk management [2][3]. - The CEO of Metalpha highlighted the company's commitment to delivering strong investment outcomes and creating significant value for investors [3]. Strategic Developments - Following the Fund's lifecycle, Metalpha will transfer its 40% equity interest in NextGen Digital Venture Limited to Mr. Jason Huang, which is expected to strengthen strategic cooperation and ensure continued excellence in fund management [3]. - NextGen Digital Venture Limited has launched Fund II to focus on crypto-related equity investments, indicating a commitment to capturing opportunities at the intersection of crypto and traditional finance [5]. Company Overview - Metalpha Technology Holding Limited is dedicated to providing digital asset-focused wealth management services and aims to lead in this field with a robust, institutional-grade platform [6].

Core Viewpoint - Metalpha Technology Holding Limited has announced the availability of its shares for trading on the Frankfurt Stock Exchange, enhancing its visibility and accessibility for European investors while maintaining its primary listing on the Nasdaq Stock Market [1][2]. Company Overview - Metalpha Technology Holding Limited is a leading digital asset wealth management company that provides digital asset-focused wealth management services through a full-service, institutional-grade platform [3]. - The company aims to become a leader in digital asset-based wealth management, emphasizing innovation and transparency in its offerings [3]. Market Impact - The listing on the Frankfurt Stock Exchange is expected to facilitate investor access across European and international markets, aligning with the growing global interest in digital asset investments [2].

Core Insights - Metalpha Technology Holding Limited has appointed Mr. Liu Yi as Senior Advisor for its crypto mining partnerships, leveraging his 15 years of experience in the BTC mining industry [1] - The company has launched a Crypto Mining Sustainable Partnership Program aimed at building strategic alliances with global mining partners, providing advisory services and financial solutions for sustainable growth [2] - Metalpha has developed a Bitcoin Miner Index in partnership with Antalpha and FTSE Russell, which tracks a portfolio of listed Bitcoin mining companies, enhancing institutional investors' exposure to BTC mining [3] Company Initiatives - The Crypto Mining Sustainable Partnership Program is designed to empower crypto miners through capital access, risk management solutions, and long-term strategic collaboration [2] - In 2023, Metalpha partnered with the Litecoin Foundation to create hedging solutions and promote sustainable mining within the LTC ecosystem [3] - The company donated to the Hong Kong Polytechnic University in 2022 to support research on BTC mining and carbon neutrality through the Hong Kong Sustaintech Foundation [4] Industry Commitment - Metalpha is focused on fostering an innovative, transparent, and sustainable mining ecosystem, bridging capital, technology, and expertise to drive growth in the global mining industry [5] - The company provides virtual asset-linked wealth management products and services globally, employing top talent from Wall Street and offering crypto derivative products to various institutional clients [6]

Core Insights - Metalpha Technology Holding Limited reported a significant revenue increase of 388% for the six months ended September 30, 2024, reaching $19,720,654 compared to $5,085,150 in the same period of FY2024 [1][2] - The company achieved a net income of $6,044,921, a turnaround from a net loss of $3,856,955 in the prior-year period, indicating strong financial recovery and growth [2] - The Board of Directors approved a share repurchase program of up to $5 million, reflecting confidence in the company's future growth and commitment to shareholder value [3][4] Financial Performance - Total revenue for the six months ended September 30, 2024, was $19,720,654, compared to $11,678,395 for March 31, 2024, and $5,085,150 for September 30, 2023 [2] - Net income for the same period was $6,044,921, compared to $177,546 for March 31, 2024, and a net loss of $3,856,955 for September 30, 2023 [2] Strategic Initiatives - The share repurchase program will be executed over the next 36 months through various methods depending on market conditions [3] - The company aims to enhance per-share value and provide long-term returns for investors through disciplined capital allocation [4] - CEO Adrian Wang emphasized the importance of investments in talent, technology infrastructure, and internal control systems for long-term scalability and sustainability [4] Company Background - Metalpha Technology Holding Limited was founded in 2015 and went public on October 20, 2017, focusing on providing investing and wealth management services [5] - The company aims to lead in crypto wealth management services, emphasizing innovation and transparency [6]

Core Insights - Metalpha Technology Holding Limited has partnered with Gewan Holding and Zodia Markets to establish a joint venture named ZMG7 LLC, aimed at enhancing the digital asset market in the Middle East [1][4] - This partnership is a strategic move in Metalpha's global expansion plan and reinforces the UAE's role as a significant hub for digital asset management [1][4] Company Overview - Metalpha Technology Holding Limited, founded in 2015, went public on October 20, 2017, and focuses on providing investing and wealth management services through an institutional-grade platform [5] - The company aims to lead in crypto wealth management services by leveraging blockchain expertise to deliver innovation and transparency [5] Partner Insights - Gewan Holding, based in Abu Dhabi, is known for its strategic investments across various sectors and has been a key player in driving innovation within the UAE's financial sector [2] - Zodia Markets, a subsidiary of Standard Chartered, was launched in 2021 to establish a strong presence in the global digital-asset infrastructure, particularly in emerging markets [3] Joint Venture Objectives - The formation of ZMG7 LLC aligns with the UAE's push for fintech innovation and regulatory frameworks for digital assets [4] - Metalpha will utilize its expertise in derivatives innovation, market structure optimization, and risk management to develop a compliant and competitive digital asset trading and wealth management platform [4]

Company Overview - Gewan Holding is an Abu Dhabi-based investment conglomerate known for its strategic investments across various sectors and its role in driving innovation in the UAE's financial sector [2][6] - Zodia Markets is an institution-first digital asset brokerage backed by Standard Chartered Bank, recognized for its OTC spot liquidity and bank-grade infrastructure, offering industry-leading pricing and settlement services to institutional clients [3][9] - Metalpha Limited, founded in 2021, specializes in digital asset wealth management products and services, focusing on crypto derivatives and serving institutions such as exchanges and investment funds [4][7][8] Partnership Announcement - Gewan Holding, Zodia Markets, and Metalpha Limited have launched ZMG7 LLC, a partnership aimed at redefining the global digital asset ecosystem by combining their expertise and resources [1][5] - The formation of ZMG7 is positioned to enhance the UAE's leadership in global digital asset management and aims to unlock unprecedented opportunities in the digital asset landscape [5] Strategic Vision - The partnership reflects a vision of innovation and collaboration, emphasizing Abu Dhabi's growing prominence as a global hub for digital assets and financial technology [5] - The joint venture is expected to leverage the distinct expertise of its partners to deliver significant value and contribute to the growth of the global digital asset markets [5]

Core Viewpoint - Metalpha Technology Holding Limited has appointed Mr. Pengyuan Fan as the new Chief Financial Officer, effective November 28, 2024, marking a significant leadership change aimed at enhancing the company's financial strategy and growth in the digital asset sector [1][3]. Company Overview - Metalpha Technology Holding Limited, founded in 2015, went public on October 20, 2017, and focuses on providing investing and wealth management services through an institutional-grade platform [4]. - The company aims to lead in crypto wealth management services, emphasizing innovation and transparency for its customers and businesses [4]. Leadership Transition - Mr. Pengyuan Fan brings over 15 years of experience from notable firms including Royal Bank of Scotland and UBS, and holds degrees from the University of Cambridge [2]. - Mr. Xiaohua Gu, the previous CFO since 2016, is stepping down voluntarily to pursue new opportunities, with the transition being amicable and both parties committed to Metalpha's success [3].

Core Insights - Metalpha Technology Holding Limited reported significant growth in its financial performance for the fiscal year ended March 31, 2024, with a total notional amount of derivative products reaching approximately US$1.56 billion, a 406% increase from US$382 million in the previous fiscal year [1] - The company's income from its wealth management business surged by about 195%, increasing from US$5.7 million in Fiscal Year 2023 to US$16.8 million in Fiscal Year 2024 [3] - Gross profit also saw a substantial rise of 180%, growing from US$2.0 million in Fiscal Year 2023 to US$5.6 million in Fiscal Year 2024 [3] Financial Highlights - Total notional amount of derivative products: US$1.56 billion in Fiscal Year 2024, up from US$382 million in Fiscal Year 2023 [1] - Income from wealth management business: US$16.8 million in Fiscal Year 2024, compared to US$5.7 million in Fiscal Year 2023 [3] - Gross profit: US$5.6 million in Fiscal Year 2024, an increase from US$2.0 million in Fiscal Year 2023 [3] Company Overview - Metalpha Technology Holding Limited, founded in 2015, went public on October 20, 2017, and focuses on providing investing and wealth management services through an institutional-grade platform [5] - The company aims to lead in the crypto wealth management sector, emphasizing innovation and transparency for its clients [5]

Financial Performance - Income from wealth management business increased to $16.8 million for the fiscal year ended March 31, 2024, up from $5.7 million in 2023 and $122,711 in 2022[56] - For the fiscal year ended March 31, 2024, income from wealth management services increased significantly to $16.8 million, up from $5.7 million in the previous fiscal year, representing a growth of approximately 194.7%[142] - The net fair value change in digital assets for the fiscal year ended March 31, 2024, was $16.8 million, compared to $5.7 million for the fiscal year ended March 31, 2023, indicating a substantial increase[114] - The company recorded a net loss of $20.2 million for the fiscal year ended March 31, 2023, compared to a net loss of $14.4 million for the fiscal year ended March 31, 2022[150] - The company recorded a net loss of $3.7 million for the fiscal year ended March 31, 2024, a significant improvement compared to a net loss of $20.2 million for the fiscal year ended March 31, 2023[163] - The cost of income for continuing operations rose from $3.7 million in the fiscal year ended March 31, 2023, to $11.1 million in the fiscal year ended March 31, 2024[115] - General and administrative expenses remained stable at $4.3 million for the fiscal year ended March 31, 2024, compared to $3.5 million for the fiscal year ended March 31, 2023[120] - Net cash used in operating activities for continuing operations was $11.6 million for the fiscal year ended March 31, 2024, primarily due to a loss before income tax expense of $3.7 million and adjustments for non-cash items totaling $18.4 million[168] Assets and Investments - The Fund's total assets under management reached $61.3 million as of March 31, 2024, following a $5.0 million anchor investment in May 2023[57] - The total fair value of digital assets as of March 31, 2024, was $126,468,184, with a total of $168,851,387 in fair value level 1 measurements[179] - The company plans to diversify its investment portfolio and reduce risks through new deals in digital assets and related derivative contracts[146] Business Strategy and Operations - The company formed a joint venture, NOWLIT FinTech Solutions Corp., in Canada to expand its digital asset business presence in North America[53] - LSQ Capital Limited obtained a Type 1 license from the SFC in April 2024, allowing it to provide securities and virtual assets dealing services[84] - The company focuses on providing structured derivative products to institutional investors and high-net-worth individuals, aiming to mitigate risks associated with cryptocurrency volatility[83] - The current business strategy emphasizes catering to large institutions and high-net-worth individuals within the cryptocurrency sector[59] - The company aims to enhance its market reach by keeping up with the fast-paced evolution of the digital currency and web3 industries[59] - The company has established a wholly owned subsidiary, LSQ Investment Limited, in Hong Kong to support its business operations[52] Clientele and Shareholder Information - The company’s clientele for wealth management services consists of institutional investors and high-net-worth individuals, with a focus on acquiring new customers to maintain business growth[140] - Antalpha holds 9,250,000 Ordinary Shares, representing 22.2% of the total Ordinary Shares and voting power[210] - As of March 31, 2024, the company had digital assets payables of $2.9 million to Antalpha, a significant shareholder and customer[213] - As of March 31, 2023, the company had payables to customers of $5.2 million to a substantial shareholder[215] Employee and Corporate Governance - The company has 19 full-time employees as of March 31, 2024, a decrease from 49 employees in 2022[132] - The board of directors consists of nine members, including five independent directors[201] - The compensation committee is responsible for reviewing and approving the compensation structure for directors and executive officers[226] Future Plans and Dividends - The company does not anticipate paying cash dividends in the foreseeable future, intending to retain earnings for business expansion[220] - The company intends to fund future capital expenditures with existing cash balances and cash flow from operating activities, although capital expenditures were nil for the fiscal years ended March 31, 2022, 2023, and 2024[171] Regulatory and Market Considerations - The VASP licensing regime under the AMLO Amendment came into effect on June 1, 2023, which may impact the company's operations in the digital asset market[129] - The company has no direct exposure to FTX or other cryptocurrency companies, but acknowledges that market volatility may impact operations and financial condition[174] Share Issuance and Incentives - The board of directors approved the 2024 Share Incentive Plan, allowing for the issuance of up to 2,000,000 Ordinary Shares, effective October 12, 2024[188] - The company has reserved an aggregate of 3,300,000 Ordinary Shares for its 2022 Performance Incentive Plan, all of which have been issued as of the date of the annual report[198] - The company issued 4,100,000 Ordinary Shares to LSQ Investment Fund for an aggregate purchase price of $4,100,000 in November 2021[224] Derivative Products - For the fiscal year ended March 31, 2023, the aggregate value of derivative products entered with related customers was approximately $9.5 million, with $4.9 million expiring[215] - For the fiscal year ended March 31, 2024, the aggregate value of derivative products entered with Antalpha is approximately $139.4 million, while the derivative products expired to Antalpha amount to around $154.1 million[232] - The aggregate value of derivative products entered with related customers for the fiscal year ended March 31, 2024, is about $59.2 million, with expired derivative products totaling approximately $64.8 million[233]

Core Viewpoint - Metalpha Technology Holding Limited has adopted the Antalpha BTC Mining Index for its Bitcoin mining stocks fund, aiming to provide investors with exposure to the Bitcoin mining industry through publicly listed companies [1][2][3] Company Overview - Metalpha Technology Holding Limited is a global digital asset-focused wealth management company, founded in 2015 and went public in 2017 [4] - The company is one of the largest crypto derivatives traders in Asia, offering tailored wealth management and hedging solutions to various financial institutions [2][4] - Metalpha holds multiple licenses from the SFC, including Type 1, Type 4, and Type 9 licenses, allowing it to deal in securities and virtual assets, advise on securities and tokens, and manage assets [3] Industry Insights - The Antalpha BTC Mining Index selects the top ten publicly traded US Bitcoin mining companies and will be rebalanced every six months to reflect market conditions [2] - The index aims to provide mainstream financial investors with a reliable channel to gain exposure to cryptocurrencies, driven by high demand for long-term growth opportunities in the Bitcoin mining sector [2][3] - Metalpha's previous fund focused on GBTC has seen significant gains, with a net asset value increase of 269.84%, outperforming Bitcoin by approximately 39% [2]