Huaxing Capital has been active in mergers and acquisitions and financing activities in the new economy, and is engaged in investment management related to the new economic business. His recent masterpieces include the exclusive financial advisor to the US group's review (new listing number: 03690), and Huaxing founder Bao Fan also hosted the US group's IPO conference.

In the past few years, Huaxing has also participated in M&A advisors of Didi and Fast, Meituan and Volkswagen reviews, Meituan's acquisition of Mobai and other transactions. It is also a long-term partner of JD. Jingdong, Meituan and Mobai are closely related to Tencent.

Huaxing Capital won an investment of 392 million Hong Kong dollars from Ant Financial, accounting for at least 13.3% of the new share issuance. Together with LGT and Snow Lake Capital, the three cornerstone investors subscribed for HK$980 million, covering at least one-third of the issue. scale.

Huaxing's main income comes from transaction and advisory fees, fund management fees and interest income. In the first quarter of this year, its revenue increased by 66% year-on-year, but the recorded loss was US$65.77 million (approximately HK$513 million), a loss of US$2.6 million in the same period last year. Approximately HK$2,028 million). Excluding non-cash items such as the fair value of preferred stocks, adjusted earnings for the first quarter were 4.2 times more than the previous year to US$35.67 million (approximately HK$278 million).