HONG KONG, March 8, 2024 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), a global digital asset-focused wealth management company, announced today that it will hold the 2024 annual general meeting (the "AGM") of shareholders of the Company at Suite 1508, Central Plaza, 18 Harbour Road, Wan Chai, Hong Kong, People's Republic of China on March 29, 2024 at 11:30 a.m. (Hong Kong time), for the purposes of considering and, if thought fit, passing the proposed res ...

Core Insights - Metalpha Technology Holding Limited reported significant growth in its wealth management business, with the notional amount of derivative products issued reaching $382 million in FY 2023, a substantial increase from $49 million in FY 2022 [2][3] - The income generated from the wealth management business surged from $0.1 million in FY 2022 to $5.7 million in FY 2023, indicating strong demand for its services [2][3] - The company recorded an adjusted loss of approximately $0.7 million in FY 2023, a notable improvement compared to the previous year's loss [1][5] Financial Highlights - The notional amount of derivative products issued in FY 2023 was $382 million, compared to $49 million in FY 2022 [2][3] - Income from the wealth management business increased from $0.1 million in FY 2022 to $5.7 million in FY 2023 [2][3] - The adjusted loss for the company was approximately $0.7 million in FY 2023, down from a larger loss in FY 2022 [5][10] Business Strategy - The company aims to maintain high growth rates while significantly lowering expenses as its business scales [3] - Metalpha is focused on innovating and diversifying its business offerings to expand its market share in Asia [3][6] - The company emphasizes compliance in its product design and services, reflecting a commitment to high-quality offerings for qualified investors [3][6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of eve ...

Revenue and Financial Performance - Total revenue for the six months ended September 30, 2022, was $4,371,133, compared to $1,230,919 in the same period in 2021[7] - Net loss for the period was $4,886,279, compared to a net loss of $7,361,965 in the same period in 2021[7] - Total comprehensive loss for the period was $5,695,038, compared to $7,026,429 in the same period in 2021[7] - Basic and diluted loss per share attributable to owners of the company was $0.22 for the six months ended September 30, 2022, compared to $0.42 in the same period in 2021[7] - Revenue for the six months ended September 30, 2022 was $4,371,133, with the Metalpha segment contributing $3,938,870 (90% of total revenue)[91] - Net loss for the six months ended September 30, 2022 was $4,886,279, with the Longyun segment accounting for $5,304,803 of the loss[91] - Basic and diluted loss per share for the six months ended September 30, 2022, was $(0.22), compared to $(0.42) for the same period in 2021[103] Digital Assets and Liabilities - Digital assets increased significantly to $44,505,633 as of September 30, 2022, up from $8,438,027 as of March 31, 2022[3] - Digital assets payables increased to $37,873,434 as of September 30, 2022, from $6,200,109 as of March 31, 2022[3] - Digital assets held on exchange institutions increased significantly from US$8,438,027 to US$44,505,633, a 427.4% increase[44] - Fair value loss of approximately US$1,330,133 from remeasurement of digital assets for the six months ended September 30, 2022[45] - Fair value of digital assets as of September 30, 2022: $44,505,633, classified under Level 2 in the fair value hierarchy[80] - Digital assets payables increased from $6,200,109 as of March 31, 2022 to $37,873,434 as of September 30, 2022, driven by acquisitions of $171,899,214 during the period[81] - Total digital asset payables to Antalpha increased from $6,200,109 as of March 31, 2022, to $36,340,668 as of September 30, 2022[108] - The company entered into derivative products with Antalpha amounting to $168,184,034 during the six months ended September 30, 2022[109] Cash Flow and Financing - Net cash used in operating activities decreased to $1,677,498 in 2022 from $4,886,289 in 2021, showing a significant improvement in cash flow management[14] - Net cash provided by financing activities was $3,403,516 in 2022, primarily from proceeds of shares issued on private placement[14] - Cash and cash equivalents increased to $7,271,584 as of September 30, 2022, from $5,286,991 as of March 31, 2022[3] - Cash and cash equivalents increased from US$5,286,991 to US$7,271,584, a 37.5% increase[46] - The company issued 3,300,000 ordinary shares in a private placement on August 2, 2022, increasing share capital and additional paid-in capital[48] Assets and Liabilities - Total assets as of September 30, 2022, were $60,903,674, up from $24,338,739 as of March 31, 2022[3] - Total current liabilities increased to $44,522,076 as of September 30, 2022, from $10,031,527 as of March 31, 2022[3] - Total equity attributable to owners of the company was $14,330,084 as of September 30, 2022, compared to $12,791,042 as of March 31, 2022[3] - Loans to third parties increased from US$7,138,703 to US$8,060,849, a 12.9% increase[40] - Total accounts and other payables as of September 30, 2022: $4,414,257, including accounts payables ($6,115), other payables and accrued charges ($3,712,349), and amount due to related parties ($695,793)[58] - The company's gearing ratio increased significantly from 42% as of March 31, 2022 to 73% as of September 30, 2022[89] - Total assets grew from $24,338,739 as of March 31, 2022 to $60,903,674 as of September 30, 2022, primarily due to a $38.1 million increase in Metalpha's current assets[93][96] - Non-current assets decreased from $712,459 as of March 31, 2022 to $563,235 as of September 30, 2022, with a $100,799 reduction in Hong Kong assets[98] Expenses and Costs - Cost of revenue for the six months ended September 30, 2022: $192,681, primarily from supply chain management platform service[64] - Selling and promotion expenses for the six months ended September 30, 2022: $657,238, a significant decrease from $3,792,621 in the same period in 2021[64] - General and administrative expenses for the six months ended September 30, 2022: $1,458,123, including professional fees ($496,253), wages and benefits ($376,500), and insurance costs ($155,915)[67] - Net finance cost for the six months ended September 30, 2022: ($2,514), with interest income of $5,013 and finance cost of ($7,527)[69] - Current tax expense for the six months ended September 30, 2022: $199,897, with a reconciliation of effective tax rate showing a loss before income tax of ($4,686,382)[72] Subsidiaries and Business Operations - The company transferred 100% equity interest in Radiant Alpha Limited to Antalpha Technologies Holdings Limited for $1, as Radiant Alpha had no operations[19] - Metalpha Limited, a subsidiary, operates cryptocurrency derivative product services in Hong Kong with a 51% ownership by the company[21] - The company's total assets for the discontinued Mainland China Business were $9,531,078 as of September 30, 2022[113] - Loss from discontinued operations for the six months ended September 30, 2022, was $(383,177)[114] - Net cash outflows from the disposal group for the six months ended September 30, 2022, were $1,684[116] - The company approved the discontinuation of its Mainland China Business on January 20, 2023[118] - The aggregate consideration for the sale of Hangzhou Dacheng and Hangzhou Longyun was $1.00, completed on February 20, 2023[119] Leases and Property - New leases capitalized in right-of-use assets and lease liabilities amounted to $79,533 in 2022, compared to $425,922 in 2021[16] - Property and equipment carrying amount decreased to $204,995 as of September 30, 2022, from $297,974 as of March 31, 2022[29][30] - Lease liabilities decreased from US$368,747 to US$321,528, a 12.8% reduction[34] - The effective interest rate applied to lease liabilities ranged from 4.75% to 4.90% per annum[37] Shareholder and Equity Information - Share purchase warrants outstanding increased to 25,100,000 with a weighted average exercise price of US$1.58[49] - Non-controlling interests as of September 30, 2022: Taikexi ($530,672), Shenzhen Guanpeng ($48,996), Hangzhou Xu Zhihang ($10,459), Metalpha ($2,475,661)[57] - The company had 25,100,000 share purchase warrants outstanding as of September 30, 2022, which could potentially dilute basic loss per share in the future[101] Valuation and Financial Models - The company uses the Black-Scholes Pricing Model for digital assets payables valuation, with expected volatility ranging from 59.03% to 61.08% as of September 30, 2022[86] - The company engages external valuation experts with recognized professional qualifications for level 3 fair value measurements[82] Corporate Changes and Transactions - The company changed its name from "Dragon Victory International Limited" to "Metalpha Technology Holding Limited" on November 15, 2022[20] - The company changed its name from Dragon Victory International Limited to Metalpha Technology Holding Limited on November 15, 2022[117] - The company completed the purchase of 49% equity interest in Metalpha Limited from Antalpha for $2,500,000 on January 4, 2023[117] Regional Revenue Contribution - Hong Kong accounted for 90% of total revenue ($3,938,870) for the six months ended September 30, 2022, compared to zero in the same period last year[97]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIE ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIE ...