[Click e-Stock] "ITCen Global Expected to Post Megaton-Level Profit in Q4... Direct Beneficiary of Rising Gold Prices"

On December 10, KB Securities projected that ITCen Global is expected to post a megaton-level operating profit in the fourth quarter of this year, driven by the rise in gold prices.

Lim Sang-guk, a researcher at KB Securities, stated, "The third-quarter results far exceeded expectations, with revenue reaching 1.7 trillion won and operating profit at 64.5 billion won," adding, "This was due to strong performance in the Web 3.0 sector, including Korea Gold Exchange."

In fact, Korea Gold Exchange saw its trading volume, which had slowed to 9.3 tons in the first quarter and 5.9 tons in the second quarter, rebound to 10.1 tons in the third quarter. According to KRX, the gold trading value in October reached 5.44 trillion won, already surpassing the total trading value for the entire third quarter (4.71 trillion won). The upward trend continued in November, with trading value hitting 3.04 trillion won.

As a result, large-scale earnings are also expected in the fourth quarter. Lim forecasted, "Operating profit in the fourth quarter is expected to be about 132.4 billion won," emphasizing, "This year is projected to mark the highest performance in the company's history." Several factors are contributing to the renewed status of gold as the "ultimate safe asset," including expectations of interest rate cuts, a weaker dollar, concerns over inflation, and the anticipated growth of gold-backed stablecoins. After reaching a record high of $4,359 on October 20, the gold price underwent a correction but had rebounded to $4,220 (February contract) as of December 8.

The full-scale overhaul of laws and regulations related to digital assets is also cited as a factor that could enhance ITCen Global's corporate value. The National Assembly passed amendments to the Capital Markets Act and the Electronic Securities Act on November 24, establishing the legal basis for the issuance and distribution of Security Token Offerings (STOs), with final passage expected by the end of this year.

Lim commented, "ITCen Global possesses outstanding competitiveness as a digital trading platform operator for physical metals," and added, "As Korea's leading digital asset issuer and operator, the company is expected to undergo a corporate value re-evaluation."