BITFIRE GROUP

Newfire Group's H shares weakened persistently in the afternoon session, closing down 2.3% at HKD 1.79, just a whisker away from its 52-week low of HKD 1.74, with YTD losses deepening to 33.95% and remaining below both the MA20 (1.982) and MA60 (2.086) thresholds. The selling pressure was largely attributed to fresh EU sanctions on HTX (formerly Huobi Global) over alleged ties with Russia, alongside penalties from UK regulators, intensifying concerns over crypto regulatory crackdowns. The company's latest earnings deepened the gloom: Q2 2026 revenue fell 43.12% YoY to HKD 982.9 million, net loss widened to HKD 122.5 million (a 1,891% YoY deterioration), and ROE plunged to -90.19%. Although the stock briefly touched HKD 1.85 in the morning session, it swiftly reversed to close at HKD 1.79, with total turnover of only HKD 2.07 million, reflecting thin participation. The appointment of former chief economist Fu Peng and the rebranding to Bitfire Group, though, signal potential strategic shifts.

Newfire Group opened lower in the morning session, closing down 5.8% at HKD 1.80, with intraday low of HKD 1.80 and high of HKD 1.93, driven by the company's latest earnings showing a sharp net loss of HKD 122.468 million for Q2, a YoY expansion of 1891%, and revenue down 43.12% YoY. The stock is now 77.97% below its 52-week high of HKD 8.17, trading below both its MA20 (HKD 1.975) and MA60 (HKD 2.129), with a YTD decline of 33.58%. However, recent news on Hong Kong's expanded virtual asset licensing and the company's rebranding to Bitfire Group may offer some support.

Sinohope Group closed at HKD 1.95, down 3.94% today, experiencing a rebound after an initial intraday slump. The stock opened high at HKD 2.03 but quickly fell to a daily low of HKD 1.91 in the afternoon, recovering slightly near the close. The company reported a 43.12% YoY decline in operating revenue to HKD 982.86 million for Q2 2026, with net loss widening to HKD 122.47 million and EPS dropping 1133.94% YoY, reflecting persistent fundamental weakness. Recent news—including the appointment of Chief Economist Fu Peng and Hong Kong's expansion of licensed virtual asset services—failed to lift the stock. The current price is 76.13% below its 52-week high of HKD 8.17, trading below both the MA20 (1.972) and MA60 (2.179), with a YTD decline of 28.04% and a PB ratio of 2.7x, still hovering near historical lows.

Newfire Group opened sharply lower in the morning session, dropping from HKD 2.09 to HKD 1.95, a decline of 6.7%, with a volume of 148,500 shares and turnover of HKD 300,360, maintaining a low-level oscillation after hitting an intraday low. The main drag came from the news that the company's HTX exchange was penalized by UK regulators for assisting Russia, coupled with a generally weak sentiment in the virtual asset market. Earnings showed that the company's net loss for Q2 2026 was HKD 122.47 million, widening 1,891% year-over-year, while operating revenue fell 43.12% YoY, with EPS of -HKD 0.1628 and ROE of -90.19%, indicating a severe fundamental deterioration. The current price is 76.13% below the 52-week high of HKD 8.17, though it has rebounded 12.07% from the 52-week low of HKD 1.74; it remains below the 20-day MA of HKD 1.957 and the 60-day MA of HKD 2.233, suggesting a weak price position. However, the company recently appointed former FTX executive Fu Peng as Chief Economist and rebranded to focus on the virtual asset business, which may signal a strategic shift.

Newfire Group shares rose in morning trading, reaching HKD 2.18 by 09:56 BJ, up 2.8% from the open of HKD 2.12, with a thin volume of 13,255 shares. The move was driven by the appointment of former chief economist Fu Peng, the company's rebranding to Newfire Group, and Hong Kong's expansion of licensed virtual asset services, which reported significant growth. However, the latest Q2 2026 earnings showed a 43.12% YoY decline in revenue to HKD 982.86 million, and net loss widened nearly 19 times to HKD 122.47 million, with an EPS of -HKD 0.1628. The stock at HKD 2.18 remains below its 60-day MA of HKD 2.248, while still 73.32% below the 52-week high of HKD 8.17, and is down 19.56% year-to-date.