Core Viewpoint - Hang Feng Technology Innovation Co., Ltd. successfully completed its initial public offering, raising US$5.5 million by offering 1,375,000 ordinary shares at a price of US$4.0 per share, with trading commencing on Nasdaq under the ticker symbol "FOFO" [1][2]. Group 1: Offering Details - The initial public offering consisted of 1,375,000 ordinary shares priced at US$4.0 each, generating gross proceeds of US$5.5 million before expenses [1]. - The underwriters have a 45-day option to purchase an additional 206,250 ordinary shares at the public offering price [1]. - The offering was conducted on a firm commitment basis, with Kingswood Capital Partners, LLC serving as the underwriter [3]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated to strengthening the corporate management consulting business, developing the asset management business, driving business expansion and strategic partnerships, and supporting general working capital and operations [2]. Group 3: Company Background - Hang Feng Technology Innovation Co., Ltd. is based in Hong Kong and provides comprehensive corporate management consulting and specialized asset management services [6]. - The company has been offering consulting services since 2023 through its subsidiary, Starchain Investment Trading Limited, focusing on strategic growth insights and regulatory compliance [6]. - In 2024, the company launched asset management services to meet client demand for sophisticated solutions in managing and growing capital portfolios [6].

Core Viewpoint - Hang Feng Technology Innovation Co., Ltd. successfully listed on NASDAQ under the ticker FOFO, raising $5.5 million through the issuance of 1.375 million shares at an expected price of $4.00 per share, with a significant first-day trading performance [3][4][19]. Company Overview - Hang Feng Technology Innovation is headquartered in Hong Kong and primarily offers comprehensive corporate management consulting solutions along with diversified asset management services [3]. - The company has been expanding its client base since 2023 through its subsidiary, Starchain Investment Trading Limited, providing customized management consulting services [3][8]. Financial Highlights - The gross proceeds from the IPO are $5.5 million, which could increase to approximately $6.325 million if underwriters fully exercise their over-allotment option [4]. - The company plans to allocate approximately 30% of the proceeds to strengthen its corporate management consulting business, another 30% for asset management development, 20% for business expansion and strategic partnerships, and 20% for general working capital [4]. Revenue Breakdown - For the fiscal year ended December 31, 2024, corporate management consulting services accounted for approximately 67.7% of total revenue, while asset management services contributed about 32.3% [8]. Stock Performance - On its first trading day, the stock closed at $12.35, reflecting a substantial increase of 208.75%, with a market capitalization of approximately $82.31 million [19]. - The stock experienced a high of $14.90 and a low of $4.63 during its trading session, indicating significant volatility [19].