New Fire Technology Annual Report: Recorded a net loss of approximately HKD 288 million for the year 2023

ChainCatcher news, Hong Kong listed company New Fire Technology announced its annual performance announcement for the year ended September 30, 2023. The financial report shows that New Fire Technology Group recorded a net loss of approximately HKD 288.7 million for the year 2023, with revenue from continuing operations of approximately HKD 2.834 billion, a year-on-year decrease of 68.7%; gross profit of HKD 10.389 million, a year-on-year decrease of 90.6%; and net profit expanded from HKD 200 million in 2022 to HKD 287 million, a year-on-year increase of 43.92%.

New Fire Technology stated that the loss was mainly due to increased expenses in developing new business, the inability to withdraw cryptocurrency assets from the cryptocurrency trading platform FTX, an impairment loss provision of approximately HKD 86 million, and increased one-time expenses resulting from the company's human resources restructuring and cost management plan.