Sinohope Technology Forecasts HK$60 Million Profit Turnaround

New Huo Technology Holdings Limited (HK:1611) has released an update.

Sinohope Technology Holdings Limited has issued a positive profit alert, announcing an expected net profit of approximately HK$60 million for the year ending September 30, 2024, reversing a previous loss of HK$288.7 million. This significant turnaround is credited to a gain from the sale of an FTX claim, reduced administrative costs, and increased income from fund performance fees and management fees due to rising virtual asset prices. While these results are preliminary, the company will finalize its annual results by December 16, 2024.

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