New stock news | Drip irrigation has shelved its Hong Kong listing plan and is prioritizing the initiation of private equity fund operations

Recently, Li Xiaojia, former CEO of Hong Kong Stock Exchange (00388), released a shareholder letter through Drip Irrigation Communication, announcing the decision to temporarily suspend the listing application of Drip Irrigation Investment (MIFC) under Chapter 21, as the company is finding it difficult to complete the necessary regulatory procedures and processes in a short time frame, with the relevant processes taking much longer than expected. Li Xiaojia explained that although the successful listing of 21 chapters "public funds" would bring many benefits to Drip Irrigation Communication's short-term development, the uncertainty of time has begun to affect the overall development pace of Drip Irrigation Communication. The company's official website shows that Drip Irrigation Communication Group is an exchange group that uses financial technology to connect global capital with small and micro enterprises. The exchange is the world's first licensed Daily Revenue Obligation (DRO) exchange. On June 18, Drip Irrigation Communication arranged for the newly established "Drip Irrigation Investment" to apply for a Hong Kong IPO under the listing rules of Chapter 21. Due to the expiry of six months, the Hong Kong stock prospectus submitted by Drip Irrigation Communication expired on December 18. Li Xiaojia stated that MIFC's business model has received recognition and response from many fund and asset providers. Therefore, the decision was made to prioritize the launch of the private equity fund process, operating MIFC as a private equity fund, which will be more flexible in terms of fundraising and investment deployment, and will be able to enter the market more quickly and attract global large investment institutions more effectively. When the timing is more mature, consider updating the A-1 application form and restarting the 21-chapter "public fund" listing process. He also mentioned that temporarily shelving the listing plan will allow Drip Irrigation Communication to fully launch its delayed 3.0 investment plan, which will officially start in early 2026, while simultaneously conducting MIFC private equity fundraising work. Drip Irrigation Communication Group will invest $100 million in its own funds to subscribe to the first phase of LP shares of MIFC. Furthermore, Drip Irrigation Communication stated that it is very close to completing the artificial intelligence (AI) reshaping throughout the system, and will begin deploying the Drip Irrigation Communication investment algorithm engine, digital customer acquisition engine, and next-generation fund clearing engine in the first quarter of 2026. The newly launched "Drip Irrigation Navigation Map" is driven by AI as the core chief scheduler, making the screening, matching, and implementation process of small and micro assets more precise and efficient. It is expected that this AI-driven business paradigm will become one of the core competitive advantages in the 3.0 stage.