Sinohope Technology Reports Strong Profit Turnaround

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

New Huo Technology Holdings Limited, operating under Sinohope Technology Holdings, reported a significant turnaround in its financial performance for the year ending September 2024. Despite a 45.9% decline in revenue from its cryptocurrency trading business, the company achieved a substantial increase in gross profit by 325.7%, leading to a profit of HK$54.3 million from continuing operations, compared to a loss in the previous year. Increased revenue from other business segments and fair value gains on cryptocurrencies contributed to this positive shift.

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