Boyaa Interactive Flags H1 Loss as Bitcoin Slump Hits Digital Assets

Boyaa Interactive has announced that it expects to post a loss of around HK$790-800 million for the six months ended June 30, reversing a profit of approximately HK$226 million in the same period last year.

The main driver of this loss is the decline in Bitcoin prices, which has led to a significant decrease in the fair value of the company's digital assets over the period.

However, excluding non-operating and one-off factors such as changes in the fair value of digital and other financial assets, Boyaa Interactive expects its underlying profit attributable to owners to rise by around 120-125% year on year, thanks to increased revenue from its online games.

The company highlighted that these figures are based on unaudited management accounts and warned shareholders and potential investors to exercise caution when trading its shares due to the volatility of cryptocurrency prices.