Hao Feng Group, a Hong Kong-based provider of investment education courses, has filed with the SEC and set terms for an initial public offering expected to raise up to $21 million. The company plans to offer its shares on the U.S. public markets as it seeks to expand visibility for its investment education business serving retail and high-net-worth investors.

Company Background

Founded in 2012, Hao Feng Group operates an investment education tuition center in Hong Kong, providing both in-person and online courses focused on stock trading, portfolio management, fundamental analysis, and investment strategy.

The company generates revenue primarily from tuition fees and workshops paid by annual subscribers. Its educational offering is divided into three course packages covering one month, six months, and 12 months.

Hao Feng Group ranked third among Hong Kong investment education providers by revenue in 2024. For the 12 months ended March 31, 2026, the company reported approximately $2 million in revenue.

IPO Details

Hao Feng Group plans to raise approximately $21 million by offering 3.2 million shares at an estimated price range of $5 to $8 per share.

At the midpoint of the proposed range, the company would have an estimated market capitalization of approximately $151 million.

The company intends to list on the NYSE American under the ticker HFE. Hao Feng Group initially filed confidentially on April 10, 2026.

Eddid Securities is serving as the sole bookrunner for the offering.

Market Context & Opportunities

Hao Feng Group’s planned listing provides exposure to a specialized segment of the financial services education market. The company combines physical classroom instruction with online courses, allowing it to serve investors seeking education in areas ranging from trading techniques to broader portfolio and investment strategy.

Its customer base includes both retail and high-net-worth investors, while its subscription-oriented course structure provides a recurring component to its business model.

The company’s ranking among Hong Kong investment education providers also gives it an established position within its local market, although its relatively modest revenue base means the IPO would represent a significant step in its corporate development.

Risks & Challenges

Hao Feng Group’s reported $2 million in annual revenue highlights the relatively small scale of the business compared with its proposed IPO valuation. At the midpoint of the offering range, the company would command an estimated market value of approximately $151 million.

The investment education sector is also dependent on customer demand, subscriber retention, course quality, and the company’s ability to differentiate its offerings in a competitive market.

As the company enters the U.S. public markets, investors will also need to assess whether Hao Feng can expand beyond its existing Hong Kong-focused operations while maintaining sustainable growth.

Closing Paragraph

Hao Feng Group’s proposed $21 million IPO represents a relatively small public-market offering from an established Hong Kong investment education provider. With a decade-plus operating history, a third-place position by 2024 revenue among Hong Kong investment education providers, and a combination of online and in-person courses, the company has built a defined market presence. The key question for investors will be whether that foundation can support meaningful growth and justify the valuation implied by the IPO.