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New Huo Technology Holdings Limited ( (HK:1611) ) has issued an update.
Bitfire Group Holdings has warned that it expects to post a net loss of up to HK$245 million for the six months ended 31 March 2026, a sharp deterioration from the HK$12.3 million loss a year earlier. The swing is largely driven by a HK$152.4 million fair value loss on crypto assets held by its Japanese compliant exchange, reflecting market weakness in digital asset prices.
The group also cited higher operating expenses of about HK$69.6 million tied to business expansion and service upgrades, alongside a HK$13.2 million rise in research and development spending on technology-enabled products. In addition, last year’s figures benefited from a one-off reversal of impairment on other receivables that did not recur, prompting the company to caution shareholders and potential investors as it finalises interim results due by the end of May 2026.
More about New Huo Technology Holdings Limited
Bitfire Group Holdings Limited, formerly known as Sinohope Technology Holdings, operates in the digital asset and crypto-related services sector, including running a Japanese compliant cryptocurrency exchange. The group focuses on technology-enabled financial products and services, investing in research and development to enhance its professional capabilities and customer service for a growing client base.
Average Trading Volume: 1,642,609
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.8B
For detailed information about 1611 stock, go to TipRanks’ Stock Analysis page.