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Hong Kong – 25 August 2022– BC Technology Group (BC Group), Asia’s leading listed (stock code: 863 HK) digital asset and fintech company and parent company of the SFC-licensed OSL digital asset platform, today reported its results for the six months ended 30 June 2022.
Results Summary
- Overall Group non-IFRS revenues increased 10% YoY to HK$136 million
- OSL digital asset platform non-IFRS revenues increased 25% YoY to HK$105 million
- OSL digital asset platform volume increased 79% YoY to HK$214 billion
- Service fees from OSL SaaS increased 332% YoY to HK$15 million
- SaaS trading volume increased 134% YoY to HK$11 billion
- Group selling and distribution expenses decreased 65% YoY to HK$22 million
Management Commentary
BC Group CEO Hugh Madden said:“While the first half of 2022 was punctuated by material weakness in the macro economy and black swan events in digital asset markets, OSL saw important new business wins and revenue and volume growth in its core business lines.
Global regulatory clarity and infrastructure investment in the digital assets sector also continued to accelerate in tandem with technology and product innovation during the Period. This regulatory evolution and ecosystem growth points to long-term tailwinds that will create significant step changes and efficiencies in the market. In this environment, OSL remains well-positioned as the platform of choice for institutions adopting digital assets.”
BC Group CFO Davin Wusaid: “OSL made significant progress in new business wins and recurring revenue clients across business lines. Notably OSL Digital Securities, the Group’s Hong Kong SFC-licensed entity, on 9 June announced that it was appointed to provide…
