Hong Kong-listed company Boya Interactive saw a year-on-year profit increase of 1130% in the first quarter due to the purchase of cryptocurrencies.

On May 11, the Hong Kong-listed company Boya Interactive (00434.HK) announced that the group's revenue for the three months ended March 31, 2024 is expected to increase by about 10% to 15% compared with the same period of the previous year, mainly due to (i) the holding of certain online operation activities of the group; and (ii) the continuous optimization of game products and gameplay, which increases the group's revenue.
The profit attributable to company owners during the Group Period is expected to increase by approximately 1,120% to approximately 1,130% compared to the same period of the previous year (the same period of the previous year: approximately RMB 28.70 million), mainly due to: (i) the increase in the income recorded during the Group Period compared to the same period in 2023; (ii) the increase in the fair value of digital assets during the Group Period; (iii) the decrease in the fair value of financial assets such as equity investment partnerships during the Group Period compared to the same period of the previous year.
If the impact of non-operating one-off factors such as changes in the fair value of financial assets such as digital assets and equity investment partnerships is excluded, the profit attributable to company owners during the group period is expected to increase by about 5% to 10% compared with the same period in 2023, which excludes non-operating one-off factors such as changes in the fair value of financial assets such as equity investment partnerships.