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CoinShares Announces Q4 2023 Results

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SAINT HELIER, Jersey, Feb. 13, 2024 /PRNewswire/ — CoinShares International Limited (“CoinShares” or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European alternative asset manager specialising in digital assets, has today published its results for the quarter ending 31st December 2023.

Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:

“After refining our strategy back in 2022, we’re now navigating the correct course. As 2023 unfolded, we’ve been delighted to see the numbers validating our approach, with our EBITDA remaining robust throughout the year, particularly in Q4.

Yet, it’s not solely about the numbers; it’s the cohesive effort of every business unit and corporate function that has driven this success.

2023 has emerged as our second-best year on record, a confirmation of the solidity of our strategies and operational strength.

Our focus now is to leverage this momentum, aiming to expand globally and position CoinShares as the definitive one-stop shop for digital asset investment worldwide.”

Q4 2023 financial highlights

Q4 revenue, gains and other income of £33.3 million (Q4 2022: £14.3 million)Q4 adjusted EBITDA of £25.7 million (Q4 2022: negative £23.8 million)Total comprehensive income for Q4 2023 of £15.3 million (Q4 2022: negative £37.1 million)

Full Year 2023 financial highlights

2023 revenue, gains and other income of £85.7 million (2022: £72.4 million)2023 adjusted EBITDA of £56.9 million (2022: negative £6.8 million)Total comprehensive income for 2023 of £37.9 million (2022: £2.9 million)

Q4 2023 operational highlights

Positive start to 2023, consistent positive EBITDA throughout, with a very strong Q4 performance.Asset Management: Q4 management fees of £13.0 million. CoinShares Physical drove significant inflow, contributing to a total year platform inflow of $213.2 million. CoinShares Physical’s AUM reached £567.3 million (excluding CoinShares’ seed) representing 19% of total Group’s AUM.CoinShares Blockchain Global Equity Index (Index): Strong Q4, 51% return in 2023, surpassing MSCI World and S&P 500. Ended 2023 with £576.1 million benchmarked to the Index, the second-largest of its kind globally. Expansion into the US market set to tap into a larger investor base.Capital Markets & Hedge Fund Solutions: Q4 top-line performance of £12.7 million. Performance boosted by staking, trading gains, and lending.Principal Investments: Recovery in Q4 with strategic divestments in 3iQ and SBG, generating liquidity for reinvestment.Overall strong performance with Adjusted EBITDA of £25.7 million for Q4, full-year figure at £56.9 million.

Dividend policy

The board of directors has adopted an amended dividend policy. While we remain committed to growth, we also wish to reward our shareholders for their trust and support.

The policy stipulates that the annual dividend payment will be between 20% and 40% of the Group’s annual total comprehensive income, excluding currency translation differences.

The annual dividend payment will be made payable in SEK in four quarterly instalments via the Euroclear Sweden settlement system, subject to an assessment by the Board of the financial health and cash requirements of the Group prior to each payment being made.

CoinShares maintains a variety of strong banking relationships globally, however the ability to pay a dividend remains subject to the successful establishment of the requisite Swedish banking relationship to facilitate payment through Euroclear. A further update will be made in due course.

 

The performance for Q4 marks the Group’s strongest quarter since the end of 2021 and has contributed to 2023 being the second strongest year in the Group’s history after 2021. Full details of the Q4 results, inclusive of financial information on each of the Group’s business units, are included within the full report, available here.

The Annual Report for the Group, inclusive of full audited financials is due to be released on 30th April 2024.

ENDS

Download the Swedish Executive Summary here.

ABOUT COINSHARES

CoinShares is the leading European alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com 
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out below, at 7:00 am CET on 13th February 2024.

PRESS CONTACT

CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com

M Group Strategic Communications
Peter Padovano
press@coinshares.com

 

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SOURCE CoinShares Group

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CGTN: President Xi’s Southeast Asia visits set to inject new impetus into regional development

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Ahead of Chinese President Xi Jinping’s state visits to Vietnam, Malaysia and Cambodia, CGTN published an article on how China follows the principles of amity, sincerity, mutual benefit and inclusiveness in its neighborhood diplomacy and how it strives to build a community with a shared future with neighboring countries.

BEIJING, April 12, 2025 /PRNewswire/ — Chinese President Xi Jinping will pay state visits to three Southeast Asian countries – Vietnam, Malaysia and Cambodia –next week, the Chinese Foreign Ministry announced on Friday.

The five-day tour to the neighboring countries, lasting from Monday to Friday, will be Xi’s first trip abroad this year.

The visits will come days after the Chinese leader called for building a community with a shared future with China’s neighboring countries at a recent central conference on neighborhood work.

Neighboring countries are China’s priority in its diplomacy, and China and Southeast Asian countries are good neighbors, good friends and good partners with a shared future, said Lin Jian, spokesperson for the Chinese Foreign Ministry, on Friday.

The upcoming visits by the Chinese president bears major importance for China’s relations with Vietnam, Malaysia and Cambodia and the Association of Southeast Asian Nations (ASEAN) as a whole, Lin told a daily press briefing.

The visits are also expected to inject new impetus into the peace and development of the region and the world, he added.

China and Vietnam: Camaraderie plus brotherhood

From Monday to Tuesday, Xi will travel to Vietnam for a fourth state visit as general secretary of the Communist Party of China Central Committee and Chinese president. The trip coincides with the 75th anniversary of diplomatic ties between China and Vietnam, two socialist neighbors that have forged an enduring bond as “camaraderie plus brotherhood.”

Xi last visited Vietnam in December 2023, when both sides agreed to build a ChinaVietnam community with a shared future that carries strategic significance, lifting bilateral relations to a new stage.

Economic and trade cooperation between China and Vietnam has developed steadily in recent years. China has been Vietnam’s largest trading partner since 2004, while Vietnam has been China’s largest trading partner within ASEAN since 2016. Bilateral trade volume has exceeded $200 billion for four consecutive years, reaching $260.65 billion in 2024, a year-on-year increase of 13.5 percent, showed data of the Chinese Commerce Ministry.

Chinese enterprises’ direct investment in Vietnam surpassed $2.5 billion in 2024, sustaining swift growth and making Vietnam an important overseas investment destination for China, according to the ministry.

China and Malaysia: Models of win-win cooperation

The Chinese president last visited Malaysia in 2013, when the two countries elevated ties to a comprehensive strategic partnership. Then a decade later, Xi and Malaysian Prime Minister Anwar Ibrahim reached an agreement in Beijing on jointly building a ChinaMalaysia community with a shared future.

In recent years, China and Malaysia have maintained high-level development in relations. Both sides have had frequent high-level interactions, continued to consolidate political mutual trust, achieved fruitful outcomes in practical cooperation, setting an example of mutual understanding and win-win cooperation between neighboring countries.

ChinaMalaysia collaboration has been expanding across the horizon. China has remained Malaysia’s largest trading partner for 16 consecutive years, with the volume hitting an all-time high of $212.04 billion in 2024. In recent years, Malaysia’s tropical fruits such as durian, mangosteen and jackfruit have become increasingly popular among Chinese consumers.

China and Malaysia are important developing countries and emerging economies in the Asia-Pacific. The upcoming visit by the Chinese leader will mark an important milestone in promoting the upgrading of the relations between China and Malaysia, said Lin, the Chinese Foreign Ministry spokesperson.

Through this visit, China hopes to further strengthen coordination with Malaysia on regional and international issues, move the bilateral relations towards the direction of building a high-level strategic ChinaMalaysia community with a shared future and make new contributions to the growing strength and unity of the Global South and peace and stability in the region, he said.

China and Cambodia: Ironclad friendship

Xi last paid a state visit to Cambodia in 2016. In September 2023, Cambodian Prime Minister Hun Manet chose China as his first official overseas destination after assuming office, a gesture reflecting Cambodia’s diplomatic priority. During their meeting back then, Xi and Hun Manet pledged to further carry forward the ironclad friendship between China and Cambodia.

In recent years, China and Cambodia have continued to deepen strategic mutual trust, enrich the “Diamond Hexagon” cooperation framework, make steady progress in the building of the Industrial Development Corridor and the “Fish and Rice Corridor,” achieve fruitful outcomes in cooperation across the board.

China has been Cambodia’s largest foreign investor and trading partner for several consecutive years. The China-Cambodia Free Trade Agreement, which came into effect on January 1, 2022, marks Cambodia’s first-ever bilateral free trade arrangement. In 2024, the trade volume between Cambodia and China reached $15.1 billion, surging 23.8 percent year on year.

Lin said, during the upcoming visit by the Chinese president, the two sides will have discussions on elevation of bilateral relations and have an in-depth exchange of views on five areas including political mutual trust, mutually beneficial cooperation, security, cultural and people-to-people exchanges and strategic coordination.

https://news.cgtn.com/news/2025-04-11/President-Xi-to-visit-Southeast-Asia-in-first-foreign-trip-this-year-1Cury5TVLpK/p.html

 

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This Is a Test, Please Disregard

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SOUTH EUCLID, Ohio, April 12, 2025 /PRNewswire/ — This is a test from PR Newswire. This is a test from PR Newswire. This is a test from PR Newswire. This is a test from PR Newswire. This is a test from PR Newswire. This is a test from PR Newswire. This is a test from PR Newswire. This is a test from PR Newswire.

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BC Reshapes the Future: LONGi Launches Upgraded Hi-MO 9 Module with Industry-Leading 24.8% Efficiency

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WUHU, China, April 12, 2025 /PRNewswire/ — LONGi Green Energy Technology, a global leader in solar innovation, unveiled the upgraded Hi-MO 9 module powered by its HPBC 2.0 technology in Anhui, China. The latest iteration achieves a groundbreaking 24.8% conversion efficiency and a maximum power output of 670W, outperforming mainstream TOPCon modules by 40W in mass production. This advancement positions Hi-MO 9 as a transformative force for enhancing photovoltaic power plant value worldwide. 

Full-Scenario Power Generation Breakthrough: Bifaciality Exceeds 80%

The newly upgraded Hi-MO 9 module, engineered with LONGi’s proprietary HPBC 2.0 technology, redefines all-scenario power generation performance. By integrating innovative 0BB (0 Busbar) technology and full-area passivation (half-cell architecture), LONGi has boosted module power by 10W, reaching a peak of 670W,with an efficiency of up to 24.8%. The optimized rear-side grid design enabled by 0BB (0 Busbar) technology elevates bifaciality to over 80%, significantly enhancing overall energy yield. Compared to TOPCon modules, Hi-MO 9 delivers a 1.5% absolute efficiency gain, increases installed capacity by approximately 6.4% under equivalent land area, and reduces upfront investment costs of photovoltaic power plant. 

Beyond standard conditions, Hi-MO 9 demonstrates exceptional resilience in challenging environments such as partial shading, high-temperature/high-humidity regions, and low-light scenarios. Over the past year, multiple field demonstration projects have revealed the Hi-MO 9 module’s “remarkable” energy generation capabilities across varied environments. In Hainan, China’s high-temperature, high-humidity environment, LONGi’s Hi-MO 9 module delivers a 1.89% per-watt energy yield advantage over conventional TOPCon modules. In arid Riyadh, Saudi Arabia, the gain reaches 1.62%. Data from additional BC power plants further confirm the exceptional power generation capabilities of the HPBC 2.0-powered Hi-MO 9 module, underscoring its proven reliability across diverse global climates.

World Record Broken: Photovoltaic Efficiency Reaches New Heights 

At the event, LONGi announced a groundbreaking achievement in high-efficiency PV cell technology, setting an unprecedented world record: 

27.81% Conversion Efficiency for its self-developed HIBC (Heterojunction Interdigitated Back Contact) silicon solar cells, certified through rigorous calibration tests by Germany’s ISFH (Institute for Solar Energy Research Hamelin).

The achievement not only reignites global market optimism toward cutting-edge solar solutions but also solidifies LONGi’s role as a trailblazer in delivering transformative energy technologies. 

Unlocking Greater Commercial Value: Global Optimal BC Solar Power Plant Design Challenge Launched 

To further amplify the market potential of high-efficiency BC technology, LONGi partnered with TÜV Rheinland, a globally renowned third-party institution, to launch the “Global Optimal BC Solar Power Plant Design Challenge”during the event. The competition, open to consultancies, EPC firms, and renewable energy investors worldwide, invites innovative designs for ground-mounted power plant projects exceeding 50MW across diverse application scenarios. Submissions will be accepted from April 11 to November 30, 2025. TÜV Rheinland will lead an expert panel in rigorously evaluating entries based on BC technology integration, PVsyst simulation results, and design innovation. The total prize purse amounts to approximately 280,000 USD. (Details : http://www.longi.com)

Dennis She, Vice President of LONGi, emphasized: “BC technology represents the ultimate advancement in crystalline silicon solar cells. With a mature global ecosystem, high-efficiency BC modules are rapidly being deployed across diverse applications. The upgraded Hi-MO 9, powered by HPBC 2.0, will deliver unparalleled value to customers worldwide. We are committed to sharing BC innovations with global partners to build a sustainable future.” 

LONGi’s global order reserves for BC modules has exceeded 40GW. The expanding deployment of BC power plants worldwide will drive higher returns for clients and redefine the future of the photovoltaic industry.

 

SOURCE LONGi Solar

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