Bitcoin Investment Loss Weighs on Annual Results
The 2025 fiscal year report revealed a non-operating loss of over $600 million due to Bitcoin valuation declines. However, executives stressed that this loss did not impact cash flow or daily operations.
Why the Balance Sheet Remains Strong
The company highlighted its 90.7% equity ratio, which ensures full coverage of liabilities and preferred shares even if Bitcoin prices drop by 86%. As of year-end, net assets reached nearly $3 billion, significantly outpacing liabilities.
Operational Revenue Surges 700%
Despite investment setbacks, business operations showed strength. Fiscal 2025 revenue jumped 738% year-on-year to $58 million, driven primarily by premium income from Bitcoin options trading.
Future Strategy Focuses on Core Growth
- Continue optimizing capital structure
- Enhance derivatives trading returns
- Explore diversified revenue streams
Management said it will maintain focus on core business development while strengthening risk controls to navigate cryptocurrency market volatility.