“香港加密资产第一股”HashKey正式登陆港交所，市值185亿港元，香港最大的持牌虚拟资产交易所

Core Viewpoint - HashKey HLDGS successfully listed on the Hong Kong Stock Exchange, establishing itself as a leading licensed digital asset platform in Asia, providing trading facilitation, on-chain services, and asset management services [1][17]. Group 1: Company Overview - HashKey operates a comprehensive digital asset ecosystem, offering end-to-end financial infrastructure, technology, and investment management globally [4][19]. - According to Frost & Sullivan, HashKey is the largest regional onshore platform in Asia by trading volume projected for 2024, and also the largest on-chain service provider and digital asset management institution by staked assets [1][4][19]. Group 2: Financial Performance - HashKey's revenue for 2022, 2023, and 2024 was HKD 129 million, HKD 208 million, and HKD 721 million respectively, indicating rapid growth in trading facilitation services [11][26]. - The company recorded a gross profit of HKD 126 million, HKD 195 million, and HKD 533 million for the same years, with gross margins of 97.2%, 94.0%, and 73.9% respectively [27]. - As of August 31, 2025, HashKey had HKD 1.657 billion in cash and cash equivalents, and HKD 592 million in digital assets, with 84% of the digital assets being mainstream tokens [12][27]. Group 3: Trading and Services - HashKey's trading volume surged from HKD 4.2 billion in 2022 to HKD 328 billion in 2023, and further to HKD 638.4 billion in 2024, primarily due to the launch of its Hong Kong digital asset trading platform [28]. - The company supports trading for 80 types of digital asset tokens, including major Layer-1 assets and DeFi tokens, and provides licensed market access with institutional-grade security [5][22]. Group 4: Strategic Initiatives - The company plans to allocate approximately 40% of the IPO proceeds for technology and infrastructure upgrades, another 40% for market expansion and ecosystem partnerships, and 10% for operations and risk management [13][28]. - HashKey has become one of the first approved VATPs to serve both professional and retail investors in Hong Kong, marking a regulatory milestone in the virtual asset market [6][22].