$FOFO
Hang Feng Technology Innovation Co., Ltd.
CIK:0002060083|SEC Filings
Consolidated Statements of Cash Flows - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Cash flows from operating activities: | ||
| Net (loss) income | $ (9,587,835) | $ 866,769 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||
| Depreciation | 8,052 | 8,575 |
| Amortization of ROU | 34,841 | |
| RSU Shares-based compensation recognized as R&D expenses | 8,955,908 | |
| Gain on Short-term investment | (3,423) | |
| Change in operating assets and liabilities: | ||
| Decrease (increase) in accounts receivable | 22,855 | (55,266) |
| Increase in accounts receivable – a related party | (79,946) | |
| Decrease (increase) in other receivables and prepaid expenses | 44,590 | (14,622) |
| (Decrease) increase in deferred tax assets | (56,733) | 38,709 |
| (Decrease) increase in accounts payable | (20,543) | 50,344 |
| Decrease in due to related party | (117,023) | |
| (Decrease) in other payables and accrued liabilities | (23,529) | (27,417) |
| (Decrease) increase in deferred revenue | (441,451) | 418,207 |
| Decrease in lease liabilities | (36,132) | |
| Increase in taxes payable | 7,716 | 81,046 |
| Net cash (used in) provided by operating activities | (1,289,230) | 1,362,922 |
| Cash flows from investing activities: | ||
| Proceeds from sale of short-term investment | 30,986 | |
| Purchase of property, plant and equipment | (886) | (39,936) |
| Cash acquired from business acquisition (Note 3) | 73,516 | |
| Payment for business combination | (193,237) | |
| Payment of equity investment | (568,139) | |
| Net cash (used in) provided by investing activities | (762,262) | 64,566 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of ordinary shares | 6,325,000 | 3,000,000 |
| Payments of offering costs for IPO | (1,213,120) | |
| Loans from related parties | 1,079,196 | |
| Repayment of loans from related party | (1,180,228) | (3,050,000) |
| Loan to a third party | 6,000,000 | |
| Repayment from a third party | (6,000,000) | |
| Settlement for receivables from shareholders | 3,000,000 | |
| Net cash provided by financing activities | 6,931,652 | 1,029,196 |
| Effect of exchange of rate on cash | 5,764 | 2,920 |
| Increase in cash | 4,885,924 | 2,459,604 |
| Cash, beginning of year | 2,534,502 | 74,898 |
| Cash, end of year | 7,420,426 | 2,534,502 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for income tax expense | ||
| Cash paid for interest expense | ||
| Non-cash transactions of investing and financing activities | ||
| Receivable from shareholders | 3,000,000 | |
| Business acquisition (Note 3) | 193,237 | |
| Initial recognition of rights-of-use and lease liabilities | $ 167,502 | |
Consolidated Balance Sheets - USD ($) |
Dec. 31, 2025 |
Dec. 31, 2024 |
||
|---|---|---|---|---|
| Current Assets | ||||
| Cash | $ 7,420,426 | $ 2,534,502 | ||
| Accounts receivable | 32,411 | 55,266 | ||
| Receivable from shareholders | 3,000,000 | |||
| Other receivables and prepaid expenses | 108,215 | 152,805 | ||
| Total current assets | 7,640,998 | 5,742,573 | ||
| Property and equipment, net | 25,812 | 33,079 | ||
| Intangible assets, net | 270,071 | 270,795 | ||
| Right-of-use assets | 132,606 | |||
| Equity Investment | 568,139 | |||
| Deferred tax assets, net | 199,371 | 142,638 | ||
| Total assets | 8,836,997 | 6,189,085 | ||
| Current liabilities | ||||
| Accounts payable | 44,771 | 65,314 | ||
| Deferred revenue (inclusive of $0 and 270,513 from related parties as of December 31, 2025 and 2024 respectively) | 6,802 | 448,253 | ||
| Other payables and accrued liabilities | 11,007 | 162,073 | ||
| Lease liabilities – current | 80,412 | |||
| Taxes payable | 88,762 | 81,046 | ||
| Total current liabilities | 231,754 | 2,119,637 | ||
| Non-current liabilities | ||||
| Lease liabilities – non-current | 53,350 | |||
| Total liabilities | 285,104 | 2,119,637 | ||
| Commitments and contingencies (Note 16) | ||||
| Shareholders’ Equity | ||||
| Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 7,571,078 and 5,290,000 shares issued and outstanding as of December 31,2025 and 2024, respectively | [1] | 757 | 529 | |
| Additional paid-in capital | 19,278,129 | 5,999,484 | ||
| Additional paid-in capital – Restricted Share Unit | 788,915 | |||
| Accumulated deficit | (11,519,521) | (1,931,686) | ||
| Accumulated other comprehensive income | 3,613 | 1,121 | ||
| Total shareholders’ equity | 8,551,893 | 4,069,448 | ||
| Total liabilities and shareholders’ equity | 8,836,997 | 6,189,085 | ||
| Related Party | ||||
| Current Assets | ||||
| Accounts receivable – a related party | 79,946 | |||
| Current liabilities | ||||
| Due to related parties | $ 1,362,951 | |||
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