Market Overview - In 2024, the global digital asset market is projected to reach a trading volume of $1,085.71 billion, representing a significant increase of 43% compared to 2023[13]. - Approximately 7% of the global population, or 562 million people, now hold digital assets, marking a substantial growth of 33% year-over-year[13]. - Asia continues to lead in digital asset adoption, with 327 million holders, accounting for 58% of the global total, reflecting a 22% increase from 2023[14]. - The overall market sentiment towards digital assets is positive, with increasing institutional adoption and a clearer regulatory framework[11]. Regulatory Environment - The evolving regulatory environment is providing much-needed clarity for digital assets, with significant developments in the U.S. and the implementation of the MiCA regulation in the EU[13]. - The approval of the first Bitcoin spot ETF by the SEC on January 10, 2024, has driven Bitcoin to a historic high, enhancing trading volume and market capitalization[13]. Company Vision and Strategy - The company's vision emphasizes creating a secure and trustworthy digital asset environment for individuals and businesses, which is more critical than ever[12]. - The mission focuses on integrating digital assets into the financial system to benefit individuals and enterprises, guiding the company's strategy and operations[12]. - The company aims to strengthen its market leadership in Hong Kong while expanding overseas and enhancing its product portfolio to drive sustainable growth[20]. - The company is actively expanding its business footprint beyond Asia, leveraging its strong market positioning[14]. Financial Performance - In 2024, the company achieved a profit of HKD 55 million, a significant turnaround from a loss of HKD 250 million in the previous year, marking its first profitability since the strategic shift to digital assets[17]. - Total revenue for the year reached HKD 375 million, representing a substantial year-on-year growth of 79%, with platform trading volume increasing to HKD 100 billion, up 16% year-on-year[17]. - The company recorded USD 29 billion in inflows into digital asset investment products over 19 weeks since the U.S. presidential election, reaching a total of USD 166 billion by February 14, 2025[16]. - The adjusted non-IFRS revenue for the year was HKD 213.6 million, a 58.3% increase from HKD 134.9 million in the previous fiscal year[31]. Operational Efficiency - The company has successfully adjusted its operations to align with the evolving market environment, establishing itself as a leader in the industry[12]. - The company implemented effective measures to enhance operational efficiency and optimize costs, contributing to improved financial performance[41]. - The company is focused on expanding its digital asset and blockchain platform business, with ongoing investments in technology and employee training to support growth[42]. Expansion and Acquisitions - The company plans to pursue strategic acquisitions globally, particularly in Southeast Asia, Europe, and the Middle East, to enhance its market presence and operational efficiency[21]. - OSL Group expanded its management team in 2024, appointing key industry professionals to drive its strategic initiatives and global expansion[29]. - The group completed the acquisition of 81.38% of the shares in CoinBest Co., Ltd., now renamed OSL Japan, a licensed cryptocurrency trading platform in Japan[59]. Risk Management and Compliance - The group has maintained a prudent financial risk management approach, avoiding high-risk speculative investments or significant hedging instruments[56]. - The group has established anti-money laundering policies and procedures to mitigate risks associated with anonymous digital asset transactions[71]. - The company has implemented strong security measures, including advanced encryption protocols and regular vulnerability assessments, to mitigate data security risks[73]. Corporate Governance - The company has fully complied with the applicable provisions of the Corporate Governance Code for the year 2024, with a focus on maintaining high standards of corporate governance[95]. - The board's main responsibilities include overseeing the company's performance, approving operational plans, and ensuring compliance with financial reporting standards[105]. - The company has adopted a code of conduct for directors regarding securities trading, confirming compliance for the year ending December 31, 2024[99]. Diversity and Inclusion - The company maintains a gender ratio of 25.2% female to 74.8% male in the workplace, including senior management[150]. - The board consists of 1 female director and 7 male directors as of the report date, maintaining the same composition as in 2023[149]. - The company emphasizes the importance of board diversity as a key element in achieving strategic goals and sustainable development[146]. Shareholder Communication - The company emphasizes the importance of transparency and timely disclosure of information to shareholders and investors[159]. - The company has established a shareholder communication policy to ensure timely access to relevant information[161]. - The company encourages shareholders to participate in annual general meetings to express their opinions and exercise voting rights[160].
BC科技集团(00863) - 2024 - 年度财报