HK Stock Market Move | OSL GROUP (00863) rose more than 4% at the end of trading. The company is expected to officially launch OSL Pay in the second quarter.

OSL GROUP (00863) rose more than 4% at the close, rising by 4.03% to HK$11.36, with a transaction volume of HK$180.739 million as of press time. In terms of news, OSL GROUP has launched a new business division, OSL Pay, dedicated to innovating cross-border fiat and cryptocurrency payment infrastructure. This release marks the first phase of the global OSL Pay business plan, with the first station set to establish operational capabilities in Europe with the existing OAM registration in Italy, and is expected to be officially launched in the second quarter. In addition, the company has established a strategic partnership with Fosun's digital global wealth management platform, Fosun Wealth International Holdings. OSL GROUP's 2024 financial report shows that under international financial reporting standards, revenue reached a record high, increasing significantly by 78.6% year-on-year to HK$374.7 million; the attributable profit to owners of the company was HK$47.653 million, compared to a loss of HK$264 million in the same period last year; basic earnings per share were HK$0.08. The revenue growth of each business line in 2024 exceeded 70% year-on-year, and the parent net profit turned positive for the first time.