New Stock News | Li Xiaojia: The listing of DiguTong in the form of 21 chapters can expedite the process. It is expected that the listing this time can be successfully carried out.

The founder of Drip Irrigation Tong and former CEO of the Hong Kong Stock Exchange, Charles Li, stated in an interview that investors mainly use PB (price-to-book ratio) as a pricing standard. In traditional listings, investors rely on the company's future profit forecasts and buy stocks based on the price-to-earnings ratio (PE). Drip Irrigation Tong applied for listing in Hong Kong in the form of a "21 chapter" investment company for faster speed. If listed in a traditional manner, it would require more time to wait for profit growth. Analysts believe that Drip Irrigation's choice to list in the "21 chapter" format is because it aligns well with its business model. According to the rules, "21 chapter" listed companies must diversify their investments, with no single investment accounting for more than 20% of the net asset value. This aligns with Drip Irrigation Tong's strategy of investing in over 10,000 small shops in more than 200 cities nationwide. Additionally, the chapter requires sales only to professional investors, matching the investor threshold needed for Drip Irrigation Tong's complex "cash flow sharing" model. Charles Li expressed that there is a great demand for funds in the market and that funders prefer products where the underlying assets are cash flow-producing. He hopes to quickly launch this market on a large scale. Although some "21 chapter" companies have been used for backdoor listing speculation in the past, causing investors to be skeptical, transparency and disclosure were lacking. Under the current digital model, the underlying assets are transparent, and the barriers to data disclosure have been broken. He expects the listing to be successful this time. The prospectus disclosed that the board of directors of Drip Irrigation Tong consists of 8 directors, with Charles Li as the chairman and the other 7 directors having no direct affiliation with Drip Irrigation Tong. Charles Li believes that if Drip Irrigation Tong's performance during the board tenure is below expectations, they can "find someone better" to ensure public confidence. The official website shows that Drip Irrigation Tong is an exchange group that connects global capital with small and medium-sized enterprises using financial technology. Through an innovative revenue-sharing model, small businesses can list on the Drip Irrigation (Macao) Financial Assets Exchange (referred to as Drip Irrigation Macao Exchange) to raise convenient and affordable long-term capital. This exchange is the world's first licensed DRO (Daily Revenue Ownership) exchange. The revenue-sharing product pioneered by Drip Irrigation Tong provides investors with direct and diversified investment opportunities and access to daily cash flow in the global active consumption economy, while also making it easier for small and medium-sized enterprises to obtain low-cost funding. Through the Drip Irrigation Macao Exchange, it provides convenience and liquidity for global professional investors to invest in small businesses and offers a new choice for impact investing. As of July 28, 2025, there have been 120 SPVs listed on the Drip Irrigation Macao Exchange website, with 99 SPACs and over 13,900 underlying assets, raising a cumulative amount of 5.575 billion Macanese patacas and distributing a total of 3.496 billion Macanese patacas in revenue sharing.