Welcome to our dedicated page for mF International news (Ticker: MFI), a resource for investors and traders seeking the latest updates and insights on mF International stock.
mF International Limited (Nasdaq: MFI) is a British Virgin Islands holding company with operations conducted by its subsidiaries in Hong Kong. As a leading financial trading solution provider, the company offers a range of innovative services that include the mF4 Trading Platform, Bridge and Plugins, CRM System, ECN System, Liquidity Solutions, Cross-platform Broker Plus Solution, and Social Trading Applications.
With nearly two decades of experience, mF International caters to brokers and institutional clients by providing real-time, mission-critical solutions for forex, bullion, and commodities trading. The company's solutions are available via the internet or as Software-as-a-Service (SaaS), ensuring flexibility and scalability for its clients.
In a recent announcement on May 16, 2024, mF International revealed its financial results for the fiscal year ending December 31, 2023. Despite facing macroeconomic challenges, the company managed to improve its gross profit margin while enhancing its service offerings. Revenue for the fiscal year was HK$32.0 million (US$4.1 million), a slight decrease from the previous year, attributed to strategic adjustments in its service portfolio. However, the company's focus on innovation and operational efficiency has kept it financially strong.
Significant achievements include the completion of its initial public offering (IPO) on April 24, 2024, and subsequent listing on the Nasdaq Capital Market. This key milestone is expected to enhance the company's global competitiveness, providing additional capital for future growth and innovation.
The company’s financial condition as of December 31, 2023, includes cash and cash equivalents of HK$6.8 million (US$0.9 million). It reported a net income of HK$6.6 million (US$0.8 million) and a gross profit margin increase to 56.2% from 52.7% the previous fiscal year. The company continues to invest in research and development, aiming to deliver increased value to its shareholders and enhancing customer partnerships.
For more information, please visit the company's website: https://ir.m-finance.com/
mF International announced its unaudited financial results for the first six months of FY 2024, ending June 30, 2024. The company reported a revenue of HK$12.5 million (US$1.6 million), down 11.9% from the same period last year. Gross profit was HK$5.3 million (US$0.7 million), a 27.2% decrease. The company faced a net loss of HK$5.5 million (US$0.7 million), compared to a net income of HK$2.2 million last year. Basic and diluted loss per share was HK$0.45 (US$0.06).
Revenue from subscriptions increased by 7.3%, hosting, support, and maintenance services grew by 17.7%, and white label services rose by 55.6%. However, revenue from initial setup, installation, customization, liquidity services, and quotes/news/package subscriptions declined. Total operating expenses surged by 147% to HK$11.6 million (US$1.5 million), driven by higher employee compensation, legal fees, and other costs. As of June 30, 2024, the company had HK$32.8 million (US$4.2 million) in cash and restricted cash.
mF International (Nasdaq: MFI), a Hong Kong-based financial trading solutions provider, celebrated its successful IPO by ringing the Nasdaq closing bell on August 21, 2024. The company, with over 20 years of experience, offers real-time trading platforms and value-added financial services to brokers, institutions, and exchanges across Asia-Pacific.
Their flagship product, the mF4 Trading Platform, provides a comprehensive solution for various financial instruments. CEO Dick Tam expressed ambitions to expand beyond Southeast Asia and become the world's leading forex and bullion trading platform provider. The company plans to use its IPO proceeds to fuel growth, enhance product offerings, and extend into international markets.
mF International (Nasdaq: MFI), a Hong Kong-based financial trading solution provider, has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's stock failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days from June 18 to July 31, 2024. mF International has been given until January 28, 2025, to regain compliance by achieving a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.
If the company fails to meet this requirement, it may face potential delisting. mF International is considering options to address the issue, including the possibility of a reverse share split. The notification does not immediately affect the company's listing on the Nasdaq Capital Market or its business operations.
mF International (MFI), a Hong Kong-based financial trading solution provider, announced its fiscal year 2023 financial results. The company reported a revenue decrease of 8.5% to HK$32.0 million (US$4.1 million) from HK$34.9 million in 2022. Despite this, the gross profit margin increased to 56.2%. Net income slightly declined to HK$6.6 million (US$0.8 million), and earnings per share were HK$0.572 (US$0.073). Cost reductions in employee expenses and outsourcing fees helped improve the profit margin. The company saw increased revenue from customization and white label services but faced declines in liquidity and subscription services. In April 2024, mF International completed its IPO and started trading on Nasdaq under the symbol MFI, raising funds to support future growth initiatives.
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