Seeing Sifang Jingchuang submit an application to the Hong Kong Stock Exchange, many people's first reaction is—another round of fundraising? But after reading the prospectus, it turns out the situation is much more complex.

This company, listed on the A-share market for ten years, has raised nearly 900 million yuan in total, distributing nearly 300 million yuan in dividends, while turning around to raise funds in Hong Kong. At first glance, it seems like a "left hand dividends, right hand financing" trick, but the underlying logic is actually a major strategic shift—revenue in the first three quarters of 2025 declined by 14.4% year-on-year, yet gross profit margin unexpectedly surged to 39.81%.

This sounds a bit crazy, but management openly stated in the prospectus: actively cutting low-profit projects in mainland China to free up resources to focus on high-margin overseas businesses. This kind of "cutting the tail to survive" requires courage; most companies are reluctant to let go, and ultimately, their survival is dragged down by revenue scale. Sifang Jingchuang’s move is like an actuary suddenly betting on the future at the gambling table.

The key lies in technological capabilities. Don’t be fooled by concepts like Web3.0, cross-border payments, or partners—where is the core competitiveness? It has two major technology platforms—FINNOSafe and FINNOSmart—that have long moved from PPT concepts to real implementation. FINNOSafe mainly focuses on compliant token automation processing, with tested transaction speeds that can beat traditional card organizations in seconds. This is not just a technical showcase but a real solution to the pain points of digital currency settlement.

Ultimately, this fundraising is not about lacking money but about betting on the future during a sector transition—abandoning low-end businesses and shifting to high-end markets with real substance. This is the full story.