Hao Feng Group Ltd.

What the company does

Hao Feng Group Ltd. is a Cayman Islands holding company that conducts its operations in Hong Kong through its operating subsidiary, Hao Feng International Limited. The company is involved in licensed asset management and related educational/financial training activities, and intends to use offering proceeds to expand its international presence, upgrade IT infrastructure, expand course offerings, and enhance tuition and management capabilities through self-developed algorithms and financial models. The Controlling Shareholder, Mr. Chu Chun Man, will beneficially own approximately 80.4% of the issued and outstanding shares immediately after the offering.

Use of proceeds

Based upon an IPO price of $6.5 per Share (the midpoint of the price range), the company estimates net proceeds of approximately $18,410,000 (without the over-allotment option) or $21,280,000 (with full exercise of the over-allotment option). The company plans to use the net proceeds to explore opportunities for global expansion and enhance its international presence, upgrade IT infrastructure by implementing customer relationship management modules, expand course variety to capture broader market share, continue to optimize its reputation as licensed asset management professionals, enhance tuition and management capabilities by implementing self-developed algorithms and financial models, and fund working capital and other general corporate purposes.

Underwriters

The completed effective-prospectus read stated no underwriters.

Extracted from F-1/A 0001185185-26-004773, filed Oct 15, 2026 and verified against that filing text.

Key risk factors

• PRC/Hong Kong regulatory risk

  “Our key operations are in Hong Kong, a Special Administrative Region of the PRC. According to the long-arm provisions under the current PRC laws and regulations, the PRC government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of the Shares.”

• PCAOB inspection / HFCA Act delisting risk

  “Although the audit report included in this prospectus is prepared by U.S. auditors who are currently inspectable by the PCAOB, there is no guarantee that future audit reports will be prepared by auditors inspectable by the PCAOB and, as such, in the future investors may be deprived of the benefits of the PCAOB inspection program.”

• Controlled company / controlling shareholder concentration

  “Our Controlling Shareholder will have the ability to control matters requiring shareholder approval, including the election of directors, amendments of organizational documents and approvals of major corporate transactions.”

• Reliance on dividends from operating subsidiary

  “We rely on dividends and other distributions on equity paid by the Operating Subsidiary to fund our cash and financing requirements, and any limitation on the ability of our subsidiaries to make payments to us could have a material adverse effect on our ability to conduct our business.”

• Holding company structure risk

  “As a holding company with no material operations of its own, we conduct our operations in Hong Kong through our Operating Subsidiary.”

• High speculation and risk of total loss

  “Investing in the Shares is highly speculative and involves a high degree of risk.”