Core Viewpoint - Micro Connect International Finance Company Limited (滴灌通) has submitted its initial application for listing on the Hong Kong Stock Exchange, backed by former HKEX CEO Li Xiaojia, amidst previous controversies regarding its business model and a recent C-round financing of $458 million [1][9]. Group 1: Company Overview - Micro Connect is a fintech company that connects global capital with small and micro enterprises through an innovative revenue-sharing model, allowing these businesses to raise affordable long-term funds [7]. - The company operates the world's first licensed Daily Revenue Sharing Products (DRO) exchange, facilitating investment opportunities for global investors while providing liquidity for small enterprises [7]. Group 2: Leadership and Management - Li Xiaojia, aged 64, is the co-founder and chairman of Micro Connect, responsible for strategic direction and key decision-making alongside the CEO [2]. - The management team includes experienced executives, such as independent non-executive director Fang Xiaoming, who has over 20 years of global experience in banking, private equity, and technology [5]. Group 3: Business Model and Innovations - The company’s revenue-sharing products offer diverse investment opportunities linked to daily cash flows from small businesses, making financing more accessible and cost-effective [7]. - The "滴灌之星" system, a digital operating system for the exchange, includes five core elements that replicate traditional market structures but in a digital format, enhancing safety and ease of financing for small enterprises [8]. Group 4: Recent Developments and Controversies - Following a $458 million C-round financing in August 2023, the company faced scrutiny over its business model, with critics labeling it as high-interest lending and questioning its legal framework [9][10]. - Li Xiaojia defended the model as a joint venture approach, emphasizing the collaborative nature of the business relationship among stakeholders [9].