Hang Feng Technology Innovation (FOFO.US) Secures Another Licensing Breakthrough: Asset Management Subsidiary Granted Type 1 License by the Hong Kong SFC, After Previously Upgrading Type 4 and Type 9 Licenses to Provide Virtual Asset Related Services

HONG KONG, July 7, 2026 /PRNewswire/ -- NASDAQ-listed Hang Feng Technology Innovation Co., Ltd. (NASDAQ: FOFO) (the "Company"), today announced that its wholly-owned subsidiary, Hang Feng International Asset Management Limited ("HFIAM"), has been granted a Type 1 (Dealing in Securities) regulated activity license by the Securities and Futures Commission of Hong Kong ("SFC"). This license enables HFIAM to provide a range of securities dealing activities, including the distribution services, to professional investors.

In accordance with SFC requirements, HFIAM is authorized to carry on the following activities:

• Type 1 License: Permits dealing in securities and acting as both principal and agent in securities transactions, allowing the provision of diversified product distribution, trade execution, and related support services to professional investors.

• Combined with Existing Type 4 and Type 9 Licenses: Further enhances comprehensive service capabilities, enabling the Company to provide a fully integrated service chain for clients, from advising on securities and asset management to securities dealing and distribution.

Against the backdrop of Hong Kong strengthening its position as an international financial center, asset management companies holding a Type 1 license will gain stronger market competitiveness. The granting of this license to HFIAM reflects HFIAM's satisfaction of the applicable regulatory requirements for conducting Type 1 regulated activities under the SFC licensing regime. With this license, the Company believes that HFIAM will be able to more effectively connect product providers with investors, offering professional investors a wider range of investment choices and efficient transaction services.

Hang Feng Technology Innovation stated that obtaining the Type 1 license represents a significant milestone in the Company's strategic development in the financial services sector. The Company will strictly comply with all SFC regulations, upholding the core principles of prudence, transparency, and investor protection. It will steadily expand its securities business, promote the diversification and integration of asset management services, and strive to deliver more comprehensive financial solutions to clients.

"Securing the Type 1 license marks a new level of business capability for the Company," said the management. "Leveraging the management team's extensive industry experience and established strategic relationships accumulated over the years, we will provide professional investors with a comprehensive suite of product and execution services. This not only broadens the Company's service scope but also strengthens the Company's competitiveness in Hong Kong's capital market, laying a solid foundation for long-term development."