BITFIRE GROUP

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.

Sinohope Technology Holdings fell on a low open and low close, ending at HKD 2.10, down 5.83%, driven by a sharply widening net loss in its latest earnings report and a bitcoin futures market yet to recover from a major liquidation. Year-to-date, the stock has declined 22.51%, trading well below its 60-day MA of HKD 2.259 and 74.3% off its 52-week high of HKD 8.17. For Q2 2026, operating revenue dropped 43.12% YoY to HKD 982.9 million, while net loss widened 1,891.35% to HKD 122.5 million, with EPS of -HKD 0.1628 and an ROE of -90.19%. Though, the session's thin volume of 113,500 shares suggests limited selling pressure, and ongoing developments in Hong Kong's licensed virtual asset services and stablecoin regulatory framework still draw attention.

Newfire Group rallied intraday on the morning session, closing at 2.250 as of 10:28 BJ, up 5.14% from previous close of 2.140, after hitting an intraday low of 2.130 and high of 2.320, forming a recovery-from-lows pattern. The move was driven by Hong Kong's expanded licensed virtual asset services and stablecoin licensing framework, along with the company's rebranding to Bitfire Group. However, fundamentals remain weak: Q2 2026 revenue fell 43.12% YoY to HKD 982.9M, net loss widened 1,891% to HKD 122.5M, with EPS of -HKD 0.1628 and net margin of -12.46%. The stock is still 72.46% below its 52-week high of 8.17, though it has broken above the 20-day MA of 1.928 and is 29.31% above the 52-week low of 1.74, while remaining below the 60-day MA of 2.263.

Newfire Group Holdings staged a single-session afternoon rally, closing up 6.9% at HKD 2.16, primarily driven by news of Hong Kong's expanded licensed virtual asset services and significant industry growth. The stock hit an intraday low of HKD 1.97, near a 52-week low, before surging to a high of HKD 2.16, with a daily range of 9.6%. Fundamentals remain under pressure: operating revenue fell 43.12% YoY to HKD 983 million, net loss expanded 18.9x YoY to HKD 122 million, EPS at -HKD 0.1628, and ROE at -90.19%. The current price is 73.56% below the 52-week high of HKD 8.17, trades above its 20-day MA (HKD 1.912) but below the 60-day MA (HKD 2.264), and is down 20.3% YTD. However, the company recently appointed Fu Peng, a former Caixin researcher, as Chief Economist, signaling efforts to navigate the compliant ecosystem.