Hang Feng Technology Innovation Co., Ltd. Announces SFC Approval to Provide Virtual Asset Advisory and Management Services

Rhea-AI Summary

Hang Feng Technology Innovation (NASDAQ: FOFO) announced that its subsidiary Hang Feng International Asset Management has received SFC approval to upgrade its Type 4 and Type 9 licenses to cover virtual asset advisory and asset management for professional investors in Hong Kong.

The Type 4 upgrade permits investment advice on virtual assets under SFC terms; the Type 9 upgrade permits portfolios with >10% virtual asset exposure and standalone virtual asset funds under the SFC framework. Management says the approvals support the company's digital asset strategy, expand service offerings, and will be executed with a focus on prudence, transparency, and investor protection.

Positive

• SFC license upgrades authorize virtual asset advisory for professional investors
• Type 9 approval allows portfolios with >10% virtual asset exposure
• Permission to run standalone virtual asset funds in Hong Kong

Negative

• Services limited to professional investors only
• Virtual asset activities subject to SFC specific terms and conditions

News Market Reaction

+8.85%

2 alerts

+8.85% News Effect

+6.3% Peak Tracked

+$6M Valuation Impact

$79M Market Cap

0.3x Rel. Volume

On the day this news was published, FOFO gained 8.85%, reflecting a notable positive market reaction. Argus tracked a peak move of +6.3% during that session. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $6M to the company's valuation, bringing the market cap to $79M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Type 4 license: Type 4 Type 9 license: Type 9 Virtual asset exposure threshold: 10% of gross asset value

3 metrics

Type 4 license Type 4 Upgrade permits virtual asset investment advisory services

Type 9 license Type 9 Upgrade permits management of virtual-asset-exposed portfolios and funds

Virtual asset exposure threshold 10% of gross asset value Type 9 upgrade allows portfolios with virtual assets above this level

Market Reality Check

Price: $6.02 Vol: Volume 91,237 is about 1....

high vol

$6.02 Last Close

Volume Volume 91,237 is about 1.81x the 20-day average of 50,509, indicating elevated trading interest ahead of/around this approval. high

Technical Price $12.06 is trading below the 200-day MA of $14.50, after a -2.08% move in the last 24 hours and sitting 82.26% under the 52-week high.

Peers on Argus

No peer stocks or sector moves were flagged in the momentum or headline data, su...

No peer stocks or sector moves were flagged in the momentum or headline data, suggesting this SFC virtual-asset license news was treated as company-specific rather than part of a broader sector rotation.

Historical Context

5 past events · Latest: Nov 28 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 28	Philanthropic donation	Neutral	+8.8%	Chairman pledged HKD 12M for fire relief and reconstruction efforts.
Nov 28	License approval	Positive	+8.8%	SFC approved upgrades to Type 4 and Type 9 for virtual asset services.
Nov 21	Strategic partnership	Positive	-2.8%	Non-binding MOU with Animoca Brands on RWA tokenization ecosystem.
Nov 04	FinTech showcase	Positive	-2.6%	Showcased stablecoin payments and on-chain asset management at HK FinTech Week.
Sep 16	IPO over-allotment	Neutral	-4.6%	Underwriters fully exercised over-allotment; IPO gross proceeds totaled $6.325M.

Pattern Detected

Recent news has often seen price moves that diverge from the apparent positivity of announcements, with only one clear alignment between upbeat licensing/digital-asset news and a strong price gain.

Recent Company History

Over the last few months, FOFO has reported several milestones. A Sept 16, 2025 update on the full exercise of IPO over-allotment raised $6,325,000 but coincided with a -4.63% move. In November 2025, FinTech Week participation and a tokenization initiative preceded modest declines. By Nov 21, an Animoca partnership drew another negative reaction. On Nov 28, both a major SFC virtual-asset license approval and a HKD 12M donation saw strong +8.85% moves, highlighting mixed but occasionally responsive trading to news.

Market Pulse Summary

The stock moved +8.8% in the session following this news. A strong positive reaction aligns with how...

Analysis

The stock moved +8.8% in the session following this news. A strong positive reaction aligns with how FOFO previously traded on this same SFC approval headline, when the stock moved about +8.85%. Investors have at times rewarded digital-asset and licensing milestones, even as other news like partnerships or IPO-related updates saw negative follow-through. With shares still trading well below the $68 52-week high and beneath the 200-day average, prior volatility around offerings and tokenization initiatives could still influence the durability of gains.

Key Terms

virtual asset, gross asset value

2 terms

virtual asset financial

"approval from SFC to upgrade its licenses to provide virtual asset-related asset"

A virtual asset is a digital representation of value or rights that exists only in electronic form—examples include cryptocurrencies, tokenized securities, and digital collectibles. Think of it as cash, a ticket, or a deed that lives on computers or networks rather than on paper. Investors care because these assets can move in price quickly, need special custody and security measures, and are subject to different legal and regulatory rules that affect liquidity and risk.

gross asset value financial

"virtual asset exposures exceeding 10% of the gross asset value of the portfolios"

Gross asset value is the total market value of all a company’s or fund’s assets before any debts, reserves, fees or other deductions are taken out. Investors care because it shows the raw size and composition of what is owned—like the full contents of a suitcase before removing baggage fees—helping assess scale, growth and the starting point for calculating net value per share.

AI-generated analysis. Not financial advice.

HONG KONG, Nov. 28, 2025 /PRNewswire/ -- Hang Feng Technology Innovation Co., Ltd. (NASDAQ: FOFO, "the Company") today announced that its wholly owned subsidiary, Hang Feng International Asset Management Limited ("HFIAM"), which holds a license granted by the Securities and Futures Commission of Hong Kong ("SFC") to carry on Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities in Hong Kong, has officially received approval from SFC to upgrade its licenses to provide virtual asset-related asset management and investment advisory services.

Specifically, the regulatory consent enables HFIAM to offer the following services, available only to professional investors, in compliance with the SFC's requirements:

Type 4 License Upgrade: permits HFIAM to offer investment advice on virtual assets, subject to the SFC's specific terms and conditions governing virtual asset advisory services.

Type 9 License Upgrade: permits HFIAM to manage investment portfolios with virtual asset exposures exceeding 10% of the gross asset value of the portfolios, as well as standalone virtual asset funds, in accordance with the SFC's prescribed framework for virtual asset portfolio managers.

The Company views this milestone as a cornerstone of its broader digital asset strategy. Operating within Hong Kong's robust and forward-looking regulatory regime, the Company believes that the upgraded licenses will enable HFIAM to meet growing institutional and professional investor demand for secure, compliant access to virtual asset investment opportunities.

Management emphasized the Company's commitment to adhering to SFC standards, ensuring all virtual asset products are developed and managed with prudence, transparency, and investor protection at the forefront. The Company believes that this expansion not only diversifies the Company's service offerings but also reinforces its mission to help clients safely navigate and capitalize on the evolving digital economy.

Looking ahead, the Company expects to remain steadfast in its vision to become a trusted partner in the field of asset management. With these upgraded licenses, the Company is aiming to enhance its service depth, accelerate business growth, and deliver long-term value to clients by bridging traditional finance with the innovation of digital assets responsibly, sustainably, and with excellence.

About Hang Feng Technology Innovation Co., Ltd.

Hang Feng Technology Innovation Co., Ltd. is a Hong Kong-based company providing comprehensive corporate management consulting solutions alongside specialized asset management services tailored to diverse client needs. Since 2023, Hang Feng has been offering consulting services and identifying market opportunities through Starchain Investment Trading Limited ("Starchain"), one of the Company's subsidiaries, to a growing network of clients. Starchain delivers tailored management consulting, including strategic growth insights, performance management reporting, key performance indicator (KPI) advisory, and support in regulatory compliance, risk management, and corporate governance practices. Recognizing client demand for sophisticated asset management solutions, the Company launched asset management services in 2024, introducing structured solutions designed to manage and grow both corporate and individual capital portfolios. For more information, please visit the Company's website: https://ir.hfintech.io 

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify many (but not all) of these statements by the use of words such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue," or other similar expressions in this announcement. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will prove correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Investors are encouraged to review other factors that may affect the Company's future results in the Company's registration statement and other filings with the SEC.

Media Contact:

Hang Feng Technology Innovation Co., Ltd.
Investor Relations
Email: ir@hfintech.io 

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SOURCE Hang Feng Technology Innovation Co., Ltd.

FAQ

What SFC approvals did Hang Feng (FOFO) receive on November 28, 2025?

The company received SFC approval to upgrade its Type 4 and Type 9 licenses to provide virtual asset advisory and asset management to professional investors.

What does the Type 4 license upgrade mean for FOFO's services?

Type 4 upgrade permits Hang Feng to offer investment advice on virtual assets, subject to the SFC's terms and conditions.

How does the Type 9 upgrade affect FOFO portfolio management?

Type 9 upgrade permits managing portfolios with >10% virtual asset exposure and running standalone virtual asset funds under the SFC framework.

Who can access Hang Feng's new virtual asset services (FOFO)?

The upgraded virtual asset advisory and management services are available only to professional investors in Hong Kong.

How does FOFO describe the strategic impact of the SFC approvals?

The company says the approvals advance its digital asset strategy, diversify services, and aim to bridge traditional finance with digital assets responsibly.