FOFO on Nasdaq
Hang Feng Technology Innovation Co., Ltd.
Hang Feng Technology Innovation Co., Ltd. is a management consulting services company, listed on Nasdaq (FOFO).1
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Last updated Oct 21, 2026.
Overview
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- TickerFOFO on Nasdaq1
- IndustryServices-Management Consulting Services1
- Business addressRoom 2806, 28/F, Tower One,, Lippo Centre, No. 89 Queensway,, Hong Kong3
- Filer categoryNon-accelerated filer, Emerging growth company3
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Feng acquired 100% equity interests of Starchain for HKD100 from YEUNG Sing Yuet Sherry.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development99¢$9.0M
- Income tax1¢$49.1K
Out of $2.3M in revenue.2 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenues | $2.3M | $2.0M |
| Staff costs and employee benefits | -$1.1M | -$675.9K |
| Rental and office expenses (inclusive of rental expenses from a related party at $81,809 and $16,350 for the year ended December 31, 2025 and 2024 respectively) | -$246.0K | -$265.1K |
| Professional fees | -$1.5M | -$80.7K |
| Research and development | -$9.0M | |
| Depreciation expenses | -$8.1K | -$8.6K |
| Other administrative | -$252.1K | -$16.3K |
| Total operating expenses | -$12.1M | -$1.0M |
| (Loss) income from operations | -$9.8M | $982.6K |
| Interest income | $8.0K | $1.1K |
| Loan interest income | $107.7K | |
| Gain on short-term investment | $3.4K | |
| Total other income | $115.7K | $4.5K |
| Income (Loss) before income taxes | -$9.6M | $987.2K |
| Income tax (benefit) expenses | -$49.1K | $120.4K |
| Net (loss) income | -$9.6M | $866.8K |
| Foreign currency translation adjustment | $2.5K | -$312 |
| Comprehensive (loss) income | -$9.6M | $866.5K |
| Basic (in Shares) | 5.8M shares | 4.0M shares |
| Diluted (in Shares) | 5.8M shares | 4.0M shares |
| Basic (in Dollars per share) | -$1.65 | $0.22 |
| Diluted (in Dollars per share) | -$1.65 | $0.22 |
| Rental and office expenses from related party | $81.8K | $16.4K |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $7.4M | $2.5M | |
| Accounts receivable | $32.4K | $55.3K | |
| Receivable from shareholders | $3.0M | ||
| Other receivables and prepaid expenses | $108.2K | $152.8K | |
| Total current assets | $7.6M | $5.7M | |
| Property and equipment, net | $25.8K | $33.1K | |
| Intangible assets, net | $270.1K | $270.8K | |
| Right-of-use assets | $132.6K | ||
| Equity Investment | $568.1K | ||
| Deferred tax assets, net | $199.4K | $142.6K | |
| Total assets | $8.8M | $6.2M | |
| Accounts payable | $44.8K | $65.3K | |
| Deferred revenue (inclusive of $0 and 270,513 from related parties as of December 31, 2025 and 2024 respectively) | $6.8K | $448.3K | |
| Other payables and accrued liabilities | $11.0K | $162.1K | |
| Lease liabilities current | $80.4K | ||
| Taxes payable | $88.8K | $81.0K | |
| Total current liabilities | $231.8K | $2.1M | |
| Lease liabilities non-current | $53.4K | ||
| Total liabilities | $285.1K | $2.1M | |
| Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 7,571,078 and 5,290,000 shares issued and outstanding as of December 31,2025 and 2024, respectively | $757 | $529 | |
| Additional paid-in capital | $19.3M | $6.0M | |
| Additional paid-in capital Restricted Share Unit | $788.9K | ||
| Accumulated deficit | -$11.5M | -$1.9M | |
| Accumulated other comprehensive income | $3.6K | $1.1K | |
| Total shareholders equity | $8.6M | $4.1M | -$2.8M |
| Total liabilities and shareholders equity | $8.8M | $6.2M | |
| Deferred revenue from related parties | $0 | $270.5K | |
| Ordinary shares, par value (in Dollars per share) | $0.00 | $0.00 | |
| Ordinary shares, shares authorized (in Shares) | 500.0M shares | 500.0M shares | |
| Ordinary shares, shares issued (in Shares) | 7.6M shares | 5.3M shares | |
| Ordinary shares, shares outstanding (in Shares) | 7.6M shares | 5.3M shares | 4.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $7.4M | $2.5M | |
| Accounts receivable | $32.4K | $55.3K | |
| Receivable from shareholders | $3.0M | ||
| Other receivables and prepaid expenses | $108.2K | $152.8K | |
| Total current assets | $7.6M | $5.7M | |
| Property and equipment, net | $25.8K | $33.1K | |
| Intangible assets, net | $270.1K | $270.8K | |
| Right-of-use assets | $132.6K | ||
| Equity Investment | $568.1K | ||
| Deferred tax assets, net | $199.4K | $142.6K | |
| Total assets | $8.8M | $6.2M | |
| Accounts payable | $44.8K | $65.3K | |
| Deferred revenue (inclusive of $0 and 270,513 from related parties as of December 31, 2025 and 2024 respectively) | $6.8K | $448.3K | |
| Other payables and accrued liabilities | $11.0K | $162.1K | |
| Lease liabilities current | $80.4K | ||
| Taxes payable | $88.8K | $81.0K | |
| Total current liabilities | $231.8K | $2.1M | |
| Lease liabilities non-current | $53.4K | ||
| Total liabilities | $285.1K | $2.1M | |
| Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 7,571,078 and 5,290,000 shares issued and outstanding as of December 31,2025 and 2024, respectively | $757 | $529 | |
| Additional paid-in capital | $19.3M | $6.0M | |
| Additional paid-in capital Restricted Share Unit | $788.9K | ||
| Accumulated deficit | -$11.5M | -$1.9M | |
| Accumulated other comprehensive income | $3.6K | $1.1K | |
| Total shareholders equity | $8.6M | $4.1M | -$2.8M |
| Total liabilities and shareholders equity | $8.8M | $6.2M | |
| Deferred revenue from related parties | $0 | $270.5K | |
| Ordinary shares, par value (in Dollars per share) | $0.00 | $0.00 | |
| Ordinary shares, shares authorized (in Shares) | 500.0M shares | 500.0M shares | |
| Ordinary shares, shares issued (in Shares) | 7.6M shares | 5.3M shares | |
| Ordinary shares, shares outstanding (in Shares) | 7.6M shares | 5.3M shares | 4.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net (loss) income | -$9.6M | $866.8K |
| Depreciation | $8.1K | $8.6K |
| Amortization of ROU | $34.8K | |
| RSU Shares-based compensation recognized as R&D expenses | $9.0M | |
| Gain on Short-term investment | -$3.4K | |
| Decrease (increase) in accounts receivable | $22.9K | -$55.3K |
| Increase in accounts receivable a related party | -$79.9K | |
| Decrease (increase) in other receivables and prepaid expenses | $44.6K | -$14.6K |
| (Decrease) increase in deferred tax assets | -$56.7K | $38.7K |
| (Decrease) increase in accounts payable | -$20.5K | $50.3K |
| Decrease in due to related party | -$117.0K | |
| (Decrease) in other payables and accrued liabilities | -$23.5K | -$27.4K |
| (Decrease) increase in deferred revenue | -$441.5K | $418.2K |
| Decrease in lease liabilities | -$36.1K | |
| Increase in taxes payable | $7.7K | $81.0K |
| Net cash (used in) provided by operating activities | -$1.3M | $1.4M |
| Proceeds from sale of short-term investment | $31.0K | |
| Purchase of property, plant and equipment | -$886 | -$39.9K |
| Cash acquired from business acquisition (Note 3) | $73.5K | |
| Payment for business combination | -$193.2K | |
| Payment of equity investment | -$568.1K | |
| Net cash (used in) provided by investing activities | -$762.3K | $64.6K |
| Proceeds from issuance of ordinary shares | $6.3M | $3.0M |
| Payments of offering costs for IPO | -$1.2M | |
| Loans from related parties | $1.1M | |
| Repayment of loans from related party | -$1.2M | -$3.0M |
| Loan to a third party | $6.0M | |
| Repayment from a third party | -$6.0M | |
| Settlement for receivables from shareholders | $3.0M | |
| Net cash provided by financing activities | $6.9M | $1.0M |
| Effect of exchange of rate on cash | $5.8K | $2.9K |
| Increase in cash | $4.9M | $2.5M |
| Receivable from shareholders | $3.0M | |
| Business acquisition (Note 3) | $193.2K | |
| Initial recognition of rights-of-use and lease liabilities | $167.5K |
No quarter-by-quarter statement was filed.
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Corporate structure
Hang Feng Technology Innovation Co., Ltd. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Hang Feng Technology Innovation Co., Ltd.
- Fenglei Qian Filed SCHEDULE 13D on Hang Feng Technology Innovation Co., Ltd., latest Oct 24, 2025
- Hang Feng Technology Innovation Co., Ltd.
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Hang Feng Technology Innovation Co., Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $14.9K2 Dec 31, 2025 | $16.3K2 Dec 31, 2024 | −8.5% |
| Property and equipment, net | $25.8K2 Dec 31, 2025 | $33.1K2 Dec 31, 2024 | −22.0% |
| Operating-lease assets (leased space) | $132.6K2 Dec 31, 2025 |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $7.4M2 Dec 31, 2025 | $2.5M2 Dec 31, 2024 | +192.8% |
| Stakes in other companies (equity method) | $568.1K2 Dec 31, 2025 |
Intangibles and goodwill
Leadership
Who has led Hang Feng Technology Innovation Co., Ltd., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
Chief financial officer
- Chief executive officerZhiheng Xu Mar 18, 2026 to now5
- ChairFenglei Qian Mar 18, 2026 to now6
- Chief financial officerChun Yu Chow Mar 18, 2026 to now7
Board members and other officers (3)
- Board memberZhiheng Xu Mar 18, 2026 to now5
- Board memberChi Wai Benny Cheng Mar 24, 2026 to now8
- Board memberWei (roger) Wu Mar 31, 2026 to now9
Timeline
- Mar 18, 2026New chief executive Zhiheng Xu becomes CEO5
Filings
35 filings to the SEC since October 2021: 1 annual reports, 5 insider forms, 1 large holders, 28 other. The latest 20:
- Oct 14, 2026EFFECT EDGAR
- Oct 6, 2026F-3 REGISTRATION STATEMENT EDGAR
- Sep 4, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jun 12, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- May 4, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Apr 16, 202620-F ANNUAL REPORT EDGAR
- Mar 31, 20263 EDGAR
- Mar 24, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Jan 28, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Nov 14, 2025S-8 REGISTRATION STATEMENT EDGAR
- Nov 3, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Oct 24, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Oct 24, 2025SCHEDULE 13D EDGAR
- Sep 16, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Sep 12, 2025EFFECT EDGAR
- Sep 12, 2025CERT EDGAR
- Sep 12, 2025424B4 PROSPECTUS EDGAR
The 35 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Fenglei QianSCHEDULE 13D, 1 filing Oct 24, 202510
SEC filer profile
How Hang Feng Technology Innovation Co., Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARHang Feng Technology Innovation Co., Ltd.1
- CIK0002060083
- Filer statusNon-accelerated filer an emerging growth company; not a shell company4
- Incorporated inCayman Islands4
- Industry code (SIC)8742 Services-Management Consulting Services1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business addressRoom 2806, 28/F, Tower One,, Lippo Centre, No. 89 Queensway,, Hong Kong, Hong Kong1
- Phone(852) 3905 23991
- Shares outstanding7,571,078 shares as of Dec 31, 20254
- AuditorWei, Wei & Co., LLP, Flushing, New York PCAOB ID 2388; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceMar 12, 20251
- Filings35 in all: 6-K (7), 3 (5), CORRESP (3), F-1/A (3), EFFECT (2), FWP (2), UPLOAD (2), 20-F (1)1
All 18 form types
424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), F-1 (1), F-3 (1), S-8 (1), SCHEDULE 13D (1)
- Latest filingsAnnual report (20-F) Apr 16, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary shares, par value $0.0001 per share | FOFO | Nasdaq |
From the cover page of the 20-F filed Apr 16, 2026 (Section 12(b) of the Exchange Act).4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5SEC EDGARZhiheng Xu, Chief executive officer
- 6SEC EDGARFenglei Qian, Chair
- 7
- 8SEC EDGARChi Wai Benny Cheng, Board member
- 9SEC EDGARWei (roger) Wu, Board member
- 10