Hang Feng Technology Innovation Co., Ltd. (NASDAQ: FOFO) has filed to raise $5.5 million through an initial public offering (IPO) on the NASDAQ. The company plans to offer 1.375 million shares at an assumed price of $4.00 per share, according to its F-1/A filing dated July 25, 2025. The IPO is expected to begin trading on August 25, 2025, under the ticker symbol FOFO.
Company Overview
Incorporated in the Cayman Islands in October 2024, Hang Feng Technology Innovation operates as a holding company with operations conducted through wholly owned subsidiaries. Headquartered at Unit 2008, 20/F, Cheung Kong Center, 2 Queen’s Road Central, Hong Kong, the company focuses on corporate management consulting and asset management services.
Through its consulting arm, Starchain, Hang Feng provides clients with strategic advisory services to address operational challenges. This client-centric approach has paved the way for the company’s expansion into asset management through HF CM, HF IAM, and HF Fund SPC, meeting growing demand for tailored investment solutions.
Founded in 2017, Hang Feng currently employs 13 staff members and has developed a two-segment business model:
- Corporate Management Consulting – Delivering strategic guidance to businesses.
- Asset Management – Providing customized investment management for corporate and personal capital.
Financial Performance & IPO Use of Proceeds
For the 12 months ended December 31, 2024, Hang Feng reported $2.03 million in revenue and $0.87 million in net income, translating to a market capitalization of approximately $26.7 million at the proposed IPO price.
Proceeds from the IPO are expected to fund business expansion, working capital, and potential acquisitions, enabling Hang Feng to scale its consulting and asset management operations.
Market Outlook
With the global demand for integrated consulting and asset management services growing, Hang Feng’s dual focus positions it to capture emerging opportunities in Asia and beyond. However, as a relatively small-cap IPO with limited operating history as a holding company, investors should weigh potential risks alongside growth prospects.
Hang Feng Technology Innovation Co., Ltd. (FOFO) could become a notable entrant to NASDAQ’s roster of international companies in 2025.
