New Stock News | FundPark: Plans to conduct Series C financing and is considering going public, but there is no timetable yet.

FundPark, the technology company with an innovative blueprint, co-founder and CEO Sun Huilai mentioned at a media luncheon that the company has celebrated its 10th anniversary and had already recorded profits as early as 2024. Therefore, besides Hong Kong, it is considering entering the U.S. market. If suitable partners and locations are found, they will open an office there, but currently, it is still in the research stage. Additionally, FundPark co-founder and President for China, Mo Zhaojie, stated that the company has recently completed its Series B financing and is planning to proceed with Series C financing. Sun Huilai indicated that the shareholding proportion in the next round of financing will be larger. He also mentioned that as the company's business further develops, there is indeed consideration of a public listing plan, but there is currently no timetable. FundPark announced today that it has reached its first asset-backed securities (ABS) financing collaboration with Citigroup (C.US). With Citigroup joining as a partner, FundPark's total ABS financing amount has exceeded $1.25 billion. Sun Huilai stated that among the $1.25 billion total amount, Goldman Sachs Group, Inc., HSBC, and Citigroup account for the majority. Notably, both Goldman Sachs Group, Inc. and HSBC have increased their amounts, and FundPark is currently also in discussions with other institutions regarding ABS financing cooperation. Sun Huilai noted that FundPark has supported over 40,000 SMEs, assisting businesses in tackling cross-border trade challenges through AI-driven dynamic financing, forward-looking insights, and growth support services, with a cumulative loan disbursement totaling over $9 billion. Most of the clients are Hong Kong-registered companies. He pointed out that over the 10 years since the company's establishment, the size of its clients has gradually grown; initially, they secured funding for development through FundPark, and now they have the capability to raise funds through equity financing. He added that FundPark currently has over 200 employees, about 100 of whom are based in the Shenzhen office, primarily engaged in technical work.