李小加：滴灌通以21章形式香港上市，可加快进度，目前数据已很透明

Core Viewpoint - Micro Connect International Finance Company Limited (滴灌通) is applying for a listing on the Hong Kong Stock Exchange under Chapter 21 as an investment company, which allows for a faster listing process compared to traditional methods that rely on future earnings forecasts [2]. Group 1: Listing Strategy - The company aims to utilize Chapter 21 for its listing, where investors primarily use Price-to-Book (PB) ratio for valuation, contrasting with the Price-to-Earnings (PE) ratio used in traditional listings [2]. - The founder, Li Xiaojia, emphasizes the current high demand for cash flow-based products in the market, aiming to rapidly scale the business [2]. - Li Xiaojia acknowledges past concerns regarding Chapter 21 listings due to lack of transparency but asserts that the digital model now provides significant transparency and data disclosure [2]. Group 2: Financial Performance - As of July 28, 2025, the company has 120 Special Purpose Vehicles (SPVs) and 99 Special Purpose Acquisition Companies (SPACs) listed on the Australian Stock Exchange, with over 13,900 underlying assets [3]. - The cumulative financing amount reached 5.575 billion Macanese Patacas, with total revenue sharing amounting to 3.496 billion Macanese Patacas [3]. Group 3: Board Composition - The board of directors consists of 8 members, with Li Xiaojia serving as the chairman and the other 7 directors being independent and not directly associated with the company [2]. - Li Xiaojia expresses a commitment to accountability, stating that if the company's performance does not meet expectations during the board's term, they will seek new leadership to maintain public confidence [2].