Hang Feng Technology shares surge 11.09% intraday after SFC approves virtual asset advisory and management services.

Hang Feng Technology Innovation Co., Ltd. surged 11.09% intraday after announcing that its subsidiary received SFC approval to upgrade licenses for virtual asset advisory and management services. The regulatory consent enables the company to offer investment advice on virtual assets under a Type 4 license and manage portfolios with virtual asset exposures exceeding 10% of gross value under a Type 9 license, exclusively for professional investors. This milestone aligns with the company’s digital asset strategy, positioning it to capitalize on growing institutional demand for compliant virtual asset solutions in Hong Kong’s regulatory framework. The expansion underscores its commitment to bridging traditional finance with digital innovation while adhering to SFC standards, reinforcing its asset management growth narrative.