DBS Downgrades OSL GROUP (00863) to "Hold", Expects Revenue to be Dragged Down by Bitcoin Performance

Stock News01-20 16:39

DBS released a research report stating that as a cryptocurrency exchange, OSL GROUP's (00863) revenue and stock price performance are correlated with Bitcoin's price. Given Bitcoin's 24% decline in the fourth quarter, the bank anticipates a negative impact on OSL's trading volume and revenue. The bank expects OSL GROUP to be included in the Southbound Stock Connect program; it maintains its target price of HK$20 but downgrades the rating to Hold. This is primarily because key positive catalysts are largely priced in, while short-term headwinds from the weak trading performance in the last quarter of the previous year persist. The bank forecasts a compound annual growth rate (CAGR) for the company's revenue of approximately 64% for the fiscal years 2024 to 2026, down from a previous expectation of 77%. DBS has revised down its full-year revenue forecast for OSL GROUP to around HK$560 million. However, the bank remains optimistic about OSL GROUP's growth prospects for the 2026 fiscal year, as the integration of its acquisition, Banxa, is progressing slightly ahead of schedule. This is estimated to contribute approximately HK$110 million in revenue for the 2026 fiscal year. Concurrently, the company's payment business continues to grow, and the launch of new trading products are seen as positive developments. Overall, the bank expects OSL GROUP's revenue for the 2026 fiscal year to be around HK$1 billion, which is lower than the original projection of HK$1.2 billion.

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Given Bitcoin's 24% decline in the fourth quarter, the bank anticipates a negative impact on OSL's trading volume and revenue. The bank expects OSL GROUP to be included in the Southbound Stock Connect program; it maintains its target price of HK$20 but downgrades the rating to Hold. This is primarily because key positive catalysts are largely priced in, while short-term headwinds from the weak trading performance in the last quarter of the previous year persist.\nThe bank forecasts a compound annual growth rate (CAGR) for the company's revenue of approximately 64% for the fiscal years 2024 to 2026, down from a previous expectation of 77%. DBS has revised down its full-year revenue forecast for OSL GROUP to around HK$560 million. However, the bank remains optimistic about OSL GROUP's growth prospects for the 2026 fiscal year, as the integration of its acquisition, Banxa, is progressing slightly ahead of schedule. This is estimated to contribute approximately HK$110 million in revenue for the 2026 fiscal year.\nConcurrently, the company's payment business continues to grow, and the launch of new trading products are seen as positive developments. Overall, the bank expects OSL GROUP's revenue for the 2026 fiscal year to be around HK$1 billion, which is lower than the original projection of HK$1.2 billion.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4601","symbol_name":"加密货币现货ETF","start_time":0,"source_url":"","article_id":"1182018099","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1182018099","pubTimestamp":1768898385,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"DBS released a research report stating that as a cryptocurrency exchange, OSL GROUP's (00863) revenue and stock price performance are correlated with Bitcoin's price. 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