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].
恒峰科技创新 FOFO，成功在美国纳斯达克上市