Hang Feng Technology Reports Loss Amid Strategic Pivot to RWA

The company’s revenue plummeted to $362,511, down from $1,327,707 in the first half of 2025. Management attributed this decline to a deliberate reduction in marketing and business development for its consulting arm, opting instead to reallocate capital toward real-world asset (RWA) development. Despite the operating losses, the firm maintains a liquid position with $6.6 million in cash and total assets valued at $8.2 million, bolstered by $329,755 in interest income from loans.

CEO Xu Zhiheng framed the performance as a necessary phase of strategic reassessment. To support its future roadmap, the company incorporated a Singapore-based subsidiary, HF Helios AI PTE Limited, in May. Meanwhile, the firm successfully completed a capital reorganization, shifting its structure to accommodate 9 billion Class A and 1 billion Class B shares. On the regulatory front, the company’s asset management unit, HF IAM, secured a Type 1 license for dealing in securities in July, adding to its existing Type 4 and Type 9 authorizations in Hong Kong.