BlockFin Holdings Limited (“BlockFin”) reported an unaudited net loss attributable to shareholders of HK$21.51 million for the six months ended 30 June 2026, an improvement of 23.7% from the HK$28.20 million loss a year earlier. The narrower deficit was achieved even as revenue declined 30.3% year-on-year to HK$10.00 million, reflecting cost reductions across several categories.

Key operating metrics • Revenue: HK$10.00 million (H1 2025: HK$14.35 million). – External asset-management commissions contributed HK$9.67 million, up 19.5%. – Fund-management fees dropped sharply to HK$0.10 million from HK$6.23 million amid liquidity constraints at certain funds. • Cost of services rose 17.9% to HK$8.22 million, while staff costs fell 23.4% to HK$10.44 million. Research and development expenses were eliminated (H1 2025: HK$9.10 million). • Other operating expenses contracted 67.2% to HK$3.02 million on lower consultancy, legal and miscellaneous spending. • Finance costs expanded 48.9% to HK$6.69 million, including a HK$1.25 million charge tied to the extension of a promissory note. • Loss per share narrowed to HK1.51 cents from HK1.98 cents.

Investment performance No fair-value loss was recorded on the Group’s sole private-equity fund investment (value: HK$1.86 million), compared with an HK$11.58 million unrealised loss in the prior period. The fund’s main holding is an unsecured bond issued by A Metaverse Company, now in liquidation; BlockFin continues efforts to recover the remaining HK$33.41 million principal.

Balance-sheet highlights (30 June 2026 versus 31 December 2025) • Cash and cash equivalents: HK$62.58 million (down from HK$85.85 million). • Net current assets: HK$65.57 million (previously a HK$34.47 million deficit), aided by reclassification of a HK$90.00 million promissory note to non-current liabilities. • Total deficit widened to HK$49.91 million from HK$34.05 million after the promissory note principal and accrued interest were consolidated into a non-current amount of HK$115.59 million. • Gearing ratio (total indebtedness to equity) improved to –231.8% from –265.5%.

Capital and liquidity actions On 10 July 2026 the company extended the maturity of its promissory note from 31 May 2026 to 31 May 2028, raised the coupon to 18%–22% and capitalised HK$25.59 million of accrued interest, increasing the note’s principal to HK$115.59 million. A HK$30 million one-off extension fee was paid and will be amortised over the new term.

Operational focus BlockFin’s licensed activities—Type 1, 4 and 9 under Hong Kong’s Securities and Futures Ordinance—remain its sole operating segment. Assets under its external asset-management platform reached approximately HK$2.40 billion at period-end (31 December 2025: HK$2.30 billion).

Dividend The board declared no interim dividend.

Outlook Management intends to continue cost discipline while pursuing opportunities in external asset management and related financial services, and will monitor the recovery of the outstanding AMC bond exposure.