Research analysts covering Hang Feng Technology Innovation.
Recent press releases and 8-K filings for FOFO.
Hang Feng Technology Innovation Co., Ltd. Announces SFC Approval for Virtual Asset Services
FOFO
New Projects/Investments
Product Launch
- Hang Feng Technology Innovation Co., Ltd. (FOFO) announced that its wholly-owned subsidiary, Hang Feng International Asset Management Limited (HFIAM), has received approval from the Securities and Futures Commission of Hong Kong (SFC) to upgrade its licenses.
- This upgrade enables HFIAM to offer virtual asset-related asset management and investment advisory services to professional investors.
- The Type 4 License upgrade permits investment advice on virtual assets, and the Type 9 License upgrade allows management of investment portfolios with virtual asset exposures exceeding 10% or standalone virtual asset funds.
- The company views this as a cornerstone of its digital asset strategy, aiming to enhance service depth and accelerate business growth by meeting demand for secure virtual asset investment opportunities.
Nov 28, 2025, 8:00 AM
Hang Feng Technology Innovation Co., Ltd. Reports Improved Financial Performance and Completes IPO
FOFO
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- Hang Feng Technology Innovation Co., Ltd. reported a net income of $363,524 for the six months ended June 30, 2025, a significant improvement from a net loss of $(462,654) in the prior year period.
- Total revenues for the six months ended June 30, 2025, increased to $1,327,707 from $239,368 for the same period in 2024.
- The company's total current liabilities decreased substantially to $235,504 as of June 30, 2025, from $2,119,637 as of December 31, 2024.
- The company completed its initial public offering (IPO) on September 15, 2025, raising $5,500,000 in gross proceeds, with its shares commencing trading on NASDAQ under the ticker "FOFO" on September 12, 2025.
Oct 24, 2025, 8:25 PM
Hang Feng Technology Innovation Co., Ltd. Completes Initial Public Offering
FOFO
Delisting/Listing Issues
- Hang Feng Technology Innovation Co., Ltd. priced its initial public offering (IPO) of 1,375,000 ordinary shares at $4.00 per share on September 12, 2025.
- The IPO closed on September 15, 2025, generating US$5.5 million in gross proceeds before deducting underwriting discounts and other related expenses.
- The company's ordinary shares commenced trading on the Nasdaq Capital Market under the ticker symbol "FOFO" on September 12, 2025.
- The underwriters fully exercised their over-allotment option for an additional 206,250 ordinary shares, bringing the total gross proceeds from the IPO to $6,325,000 before deductions, with the closing of this option on September 16, 2025.
- Proceeds from the offering will be used for strengthening corporate management consulting, developing asset management, driving business expansion and strategic partnerships, and supporting general working capital and operations.
Sep 16, 2025, 9:20 PM
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