HiTek Global Inc. SEC Filings

HiTek Global Inc. director Yin Shenping filed an initial ownership report showing an indirect stake in the company. The filing lists 8,192,000 Class B Ordinary Shares held of record by Fortune Enterprise Holdings Limited, a British Virgin Islands company.

Yin Shenping and his wife, Ms. Xiaoyang Huang, are shareholders and directors of Fortune Enterprise Holdings Limited. Because of their ownership and management roles, Yin Shenping may be deemed to share voting and dispositive power over the Class B Ordinary Shares held by Fortune and therefore may be deemed to beneficially own these securities.

HiTek Global Inc. director Wang Weijun has filed an initial Form 3, which is the required statement of beneficial ownership for insiders. The data provided shows no reported transactions, share holdings, or derivative positions, indicating this filing mainly establishes Wang’s status as a director and reporting person.

HiTek Global Inc., a Cayman Islands holding company for China-based operations, files its annual Form 20-F describing a business run through a variable interest entity (VIE) structure in the PRC. The filing explains that HiTek’s WFOE contracts give it control and economic benefits from the VIE, but investors do not own equity in the Chinese operating entities.

The report highlights extensive legal and regulatory risks tied to PRC oversight, evolving cybersecurity and data rules, and potential future CSRC filing requirements for overseas offerings. It also notes HFCAA-related delisting risk if PCAOB access were ever restricted again, even though the current auditor is U.S.-based and inspected.

Operationally, HiTek depends on regulated ACTCS tax device service fees, which have been repeatedly reduced by mandate, increased use of electronic invoicing, and a small number of large customers and key suppliers. As of December 31, 2025, 21,107,364 Class A and 8,192,000 Class B ordinary shares were outstanding.

HiTek Global Inc. Schedule 13G filing reports that China Legends Management Consultancy Limited beneficially owns 41,332 shares of Class A common stock, representing 5.635% of the class as of 04/14/2026. The filer reports shared voting and dispositive power over those shares.

HiTek Global Inc. is implementing a 50‑for‑1 reverse split of its Class A ordinary shares, effective April 6, 2026, so that every 50 issued shares become one share. The company expects its shares to begin trading on a split‑adjusted basis on the Nasdaq Capital Market that day under the same symbol, “HKIT.”

After the reverse split, the par value of each Class A share will change from US$0.0001 to US$0.005, while total authorized share capital will remain at US$316,000, reclassified among Class A, Class B, and preference shares. No fractional shares will be issued; any fractional amounts will be rounded to the nearest whole share.

HiTek Global Inc. completed a registered direct offering, raising an initial aggregate subscription amount of $3,000,000 through new equity securities. The company sold 1,500,000 Class A Ordinary Shares at $0.03 per share and Pre-Funded Warrants to purchase up to 98,500,000 Class A Ordinary Shares at an exercise price of $0.0001 per share, priced at $0.0299 per warrant.

There were 26,969,375 Class A Ordinary Shares outstanding immediately before the transaction and 126,969,375 outstanding immediately after, assuming full exercise of the Pre-Funded Warrants. The purchaser may buy additional shares and/or warrants in further closings up to 200% of the initial aggregate subscription amount. Univest Securities, LLC acted as placement agent on a reasonable best efforts basis, earning a 7.0% cash fee, a 1.0% expense allowance on gross proceeds, and $100,000 in accountable expenses.

Hitek Global, Inc. is conducting a registered direct offering of 1,500,000 Class A Ordinary Shares and pre-funded warrants to purchase up to 98,500,000 Class A Ordinary Shares at an effective price of $0.03 per underlying share. The initial purchase agreement covers an aggregate subscription of $3,000,000, and the purchaser may, subject to the Securities Purchase Agreement, acquire up to an additional 200% of that initial amount in additional closings through April 29, 2026.

The Placement Agent fee equals 7.0% of gross proceeds, leaving estimated net proceeds of approximately $2,790,000 before expenses. The company cautions about material risks tied to its VIE structure, PRC regulatory uncertainty (including cybersecurity and overseas listing rules), and potential limitations on transferring proceeds into China. Class A Ordinary Shares trade on Nasdaq under HKIT.

HiTek Global Inc. reports that Maxim Group LLC has terminated their sales agreement for the at-the-market offering program with immediate effect as of March 26, 2026. Before this termination, the company sold an aggregate of 5,852,011 Class A ordinary shares through the sales agent under the program.

The report is also incorporated by reference into HiTek Global’s existing registration statements on Forms F-3 and S-8 and their related prospectuses, which means this update becomes part of those broader offering documents filed with the U.S. Securities and Exchange Commission.

HiTek Global Inc. has established an at-the-market equity offering program, allowing it to issue Class A ordinary shares with an aggregate offering price of up to $100,000,000 through Maxim Group LLC as sales agent. Shares will be sold from time to time under the company’s effective Form F-3 shelf registration.

The sales agent will use commercially reasonable efforts to place shares according to the company’s instructions and will earn a 2.5% commission on gross proceeds from each sale. HiTek has also agreed to reimburse up to $50,000 of the agent’s legal fees and up to $5,000 per Representation Date, capped at $20,000 per fiscal year, for due diligence expenses.