TRON founder and member of Huobi Global Advisory Committee, Justin Sun, tweeted that the actual revenue for the second quarter was $193 million, with expenses amounting to $108 million, resulting in a quarterly profit of $85 million. This represents a significant 183% increase in profit compared to the $30 million profit in the first quarter, demonstrating the effectiveness of the group's measures to increase revenue and reduce costs.
Furthermore, Sun Yuchen conservatively forecasts that the revenue for the third quarter will reach $200 million, with expenses totaling $100 million, resulting in a quarterly profit of $100 million. (These figures exclude investment-related gains and losses).
Earlier, according to Bloomberg, Sun Yuchen spent approximately $1 billion to acquire about 60% of Huobi's equity through the Hong Kong asset management company About Capital. Additionally, Sequoia China and ZhenFund collectively sold about 28% of their shares in Huobi to About Capital.