Core Viewpoint - HashKey Holdings (03887) has seen a significant decline in its stock price, dropping over 20% from its IPO price, reflecting investor concerns amid a weak cryptocurrency market [1] Financial Performance - The company reported revenues of HKD 129 million, HKD 208 million, and HKD 721 million for the years 2022, 2023, and 2024 respectively, while incurring losses of HKD 585 million, HKD 580 million, and HKD 1.19 billion for the same years [1] - In the first half of 2025, HashKey achieved revenue of HKD 284 million but recorded a loss of HKD 507 million, indicating that the company has yet to reach profitability [1] Market Position - HashKey Exchange is recognized as Hong Kong's first licensed virtual asset trading platform aimed at retail users, holding licenses for securities trading and automated trading services from the Hong Kong Securities and Futures Commission [1] - According to Frost & Sullivan, HashKey is projected to be the largest regional onshore platform in Asia by trading volume in 2024 [1] Investor Sentiment - Recent reports from Daiwa suggest that due to the ongoing downturn in the cryptocurrency market and declining trading volumes across global exchanges, investor confidence in HashKey may remain low in the short term [1]
HASHKEY HLDGS再跌超8%创新低 较招股价已跌超20%