Core Viewpoint - New Fire Technology is transitioning from a low-margin OTC business model to a focus on high-net-worth clients and digital asset private banking services, aiming for sustainable profitability and market leadership in the evolving virtual asset landscape [1][2][3]. Financial Performance - In 2025, New Fire Technology's revenue increased by 4.5 times to 8.6 billion HKD, primarily driven by OTC business, which has low profit margins [2][4]. - The company reported a net loss of 9 million HKD, indicating challenges in profitability despite revenue growth [1][2]. Strategic Shift - The company is pivoting towards digital asset private banking, which is seen as the key to profitability, moving away from the previous management's low-margin strategies [3][4]. - The private banking service has seen rapid growth, with potential clients increasing from 130 to over 460 and actual clients exceeding 260 within two months of launch [4]. Market Positioning - New Fire Technology aims to serve institutional clients and high-net-worth individuals, filling a gap in the market that traditional platforms have overlooked [3][5]. - The company is not competing directly with major exchanges like Binance or OKX but is instead positioning itself as a "super connector" between traditional finance and Web3 [2][5]. Cost Structure and Global Expansion - The company operates with a lean model, employing only 160 staff, which is a quarter of the size of traditional virtual asset trading platforms, allowing for lower operational costs [5][8]. - Plans for 2026 include a "copy-paste" strategy to expand its private banking model into Japan and other regions, leveraging lightweight licensing options [5][6]. Client Focus and Service Model - The target clientele includes listed companies, family offices, and ultra-high-net-worth individuals, expected to contribute over 80% of profits by the end of 2026 [8]. - The service model emphasizes high-touch, personalized service, addressing the pain points of high-net-worth clients that traditional financial institutions often overlook [4][6]. Future Outlook - The company aims to achieve monthly profitability by the end of 2026 and overall profitability by 2027, with a target of exceeding 1,000 clients [4][8]. - The CEO believes that the influence of the "four-year cycle theory" is diminishing, with institutional participation in the market increasing, leading to a more stable market structure [8][9].
新火科技翁晓奇：从低毛利OTC到数字资产私行级管家，打造加密行业的“亚洲高盛”