Delivering Resilient High-Quality Growth Amid Market Headwinds, with Marked Improvement in Profitability
HashKey's 2026 Interim Revenue Jumps 20.6%, Adjusted Loss Narrows Notably by 21.0%
Highlights
- Resilient Growth Against Macroeconomic Backdrop: Revenue increased by 20.6% year-on-year to HK$342.5 million; Gross profit rose 12.5% year-on-year to HK$207.5 million.
- Improved Profitability: Gross profit margin improved sequentially from 51.0% in 2H 2025 to 60.6% in 1H 2026.
- Sustained Narrowing of Adjusted Loss (Non IFRS measure) [1] : Adjusted loss for the period (non-IFRS measure)* narrowed by 21.0% to HK$314.8 million.
- Core Trading Engine: Revenue from transaction facilitation services jumped 38.6% year-on-year to HK$267.9 million; Platform trading volume reached HK$282.2 billion, up 31.8% year-on-year, with institutional trading volume accounting for 82.0%.
- Accelerated Commercialisation of RWA Tokenisation: Total Value Locked (TVL) of on-chain RWA surged 167.8% year-on-year to HK$2,678.5 million, marking successful implementation of several benchmark RWA projects in Hong Kong.
HONG KONG, Aug. 27, 2026 /PRNewswire/ -- HashKey Holdings Limited ("HashKey" or the "Company", together with its subsidiaries, the "Group", Stock Code:?3887.HK) today announced its unaudited consolidated interim results for the six months ended 30?June?2026 (the "Reporting Period"). In the first half of 2026, the global digital asset market entered a phase of cyclical consolidation amid a contraction in total crypto -asset market capitalisation, as the industry entered a phase of market clearing. Against this backdrop, HashKey delivered resilient high-quality growth underpinned by its forward-looking onshore compliance strategy. Both revenue and gross profit grew over the period, with profitability continuing to improve and adjusted loss narrowing, significantly underpinning the Group's fundamental strength amidst macroeconomic headwinds.
In terms of financial performance, HashKey maintained resilient overall operational performance during the Reporting Period. Revenue reached HK$342.5 million, representing a year-on-year increase of 20.6%; gross profit amounted to HK$207.5 million, representing a year-on-year increase of 12.5%; and gross profit margin improved sequentially to 60.6% from the second half of 2025. Meanwhile, by optimizing operational efficiency, adjusted loss (non-IFRS measure) was HK$314.8 million, representing a decrease of 21.0% as compared to HK$398.3 million for the same period last year, reflecting meaningful loss reduction and substantial improvement in underlying profitability. Three core business segments advance in tandem: transaction facilitation services enhanced profitability; on-chain services saw accelerated commercial roll-out for its tokenisation business, while the asset management business continued to optimise its revenue structure.
As the Group's core growth engine, transaction facilitation services exhibited notable resilience amid market volatility. During the Reporting Period, revenue from transaction facilitation services reached HK$267.9 million, representing a year-on-year increase of 38.6%. Total platform trading volume stood at HK$282.2 billion, representing a year-on-year increase of 31.8%. In particular, trading volume from institutional customers continued to increase, surging by 58.8% year-on-year to HK$231.5 billion, accounting for 82.0% of total platform volume, reflecting high confidence of institutional customers in the compliant platform.
Beyond the trading segment, HashKey's on-chain and asset management businesses achieved meaningful progress. The commercialisation of tokenisation was accelerated. The total value locked (TVL) of on-chain real-world assets (RWA) reached HK$2,678.5?million, representing a substantial year-on-year increase of 167.8%. During the Reporting Period, the Group delivered Hong?Kong's first real estate RWA project as well as Hong?Kong's first regulated silver RWA token, further maintaining HashKey's leading position in on-chain financial innovation.
For asset management, the Group recorded assets under management (AUM) of HK$5,941.2?million, with segment revenue amounting to HK$38.84 million. During the Reporting Period, the Group optimised its investment strategy. While adopting a "selective investment and disciplined risk management" approach for venture capital (VC) investments, it launched diversified and stable wealth management products, including Stablecoin and Bitcoin wealth management products, as well as the first Bitcoin Hashrate Fund in the industry. These launches further expand the Group's product suite catering to institutional and high-net-worth clients.
On the investment and global-footprint front, the Group also secured breakthrough progress. In July 2026, a wholly-owned subsidiary of HashKey entered into a framework agreement with Asia Pacific Exchange (APEX) in Singapore and its major shareholders to acquire the entire equity interest in APEX. APEX holds both the Approved Exchange (AE) and Approved Clearing House (ACH) licences in Singapore. This proposed transaction is expected to significantly enhance HashKey's trading and clearing infrastructure for the institutional market, further solidifying its regulated standing across key Asian financial markets. Separately, in April 2026, HashKey Capital, a subsidiary of the Group, made a strategic investment in Vietnam Prosperity Crypto Assets Exchange Joint Stock Company (CAEX). The Group also entered into a strategic technology partnership with CAEX to jointly build an institutional-grade compliant digital-asset trading platform in Vietnam. In May 2026, funds under HashKey Capital Investment led the Series B+ funding round for SignalPlus with a US$40.0?million investment, of which the Group contributed US$20.0?million. SignalPlus specialises in institutional-grade digital-asset options and derivatives technology services. This investment represents the Group's key move to strengthen its derivatives trading capabilities.
To solidify the foundation for long-term development, HashKey fully deepens its ecosystem partner network. On the traditional-finance front, the Group deepened its cooperation with world-class banks such as J.P. Morgan and DBS, expanded fiat on- and off-ramp channels. At the ecosystem level, the Group established partnerships with blockchain network and on-chain financial protocols such as Canton and Morpho to explore co-building institutional-grade on-chain applications and deeply participated in the reshaping of the Ethereum ecosystem by initiating the Ethereum Applications Guild (EAG).
Dr.?Xiao?Feng, Chairman of the Board and CEO of HashKey, commented: "HashKey will evolve along a well-defined path: from a digital asset trading platform to a digital asset financial marketplace; from a single markets to Asian market network; from crypto native assets to real world assets (RWA) and tokenised assets; and ultimately to build next generation digital financial infrastructure that connects pools of assets and pools of capital. Looking ahead, we will continue to pursue refined operations and business innovation, steadily improving profitability and capital efficiency to deliver long-term, sustainable value for our shareholders, customers and partners."
About HashKey Holdings Limited (3887.HK)
HashKey Holdings Limited ("HashKey Group", Stock Code: 3887.HK) was founded in 2018 and listed on The Stock Exchange of Hong Kong on 17 December 2025.
As a leading comprehensive digital asset group in Asia with a global footprint, we are building a new-generation global financial infrastructure to serve institutions, retail investors and blockchain ecosystem partners. We empower traditional institutions and blockchain project owners to efficiently access global resources and achieve compliant expansion and growth for their products and businesses. The Group operates across three core pillars: Transaction Facilitation Services, On-Chain Services, and Asset Management Services.
HashKey Group is committed to driving the large-scale adoption of blockchain technology, delivering dependable and accessible digital asset services to one billion users worldwide.
[1] The Group defines Adjusted Loss (non-IFRS measure) as loss for the period adjusted by adding back: (i) equity-settled share-based payment expenses; (ii) interest expenses on Preferred Shares - HashKey Series A (which were converted into equity upon the Company's listing) (all of which are non-cash in nature); and (iii) net fair value losses on and write-down of digital assets, as such price volatility could significantly affect the underlying performance of the Group's core businesses. |
SOURCE HashKey Holdings Limited
