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Micro Connect returns RMB3.2 bln to investors in 2025

 ab26 Micro Connect last year distributed over RMB3.2 billion (US$0.47 billion/MOP3.78 billion) in revenue shares to investors, government information shows. According to a Wednesday gazette announcement, the investment platform, Micro Connect (Macao) Financial Assets Exchange in full and designed to pool funds for small businesses in mainland China, last year lifted its cumulative issuance volume to RMB4.767 billion, issuing more than 13,606 revenue based obligations via the marketplace. It came as Micro Connect reported a sizeable drop of 28.7 per cent in consolidated 2025 spending from a year earlier. Helmed by Charles Li, former CEO of Hong Kong Exchanges and Clearing, Micro Connect introduced the Micro Start initiative in September 2024, which the operators of the revenue-sharing platform said helped propel listings and funding amounts. The increased momentum came from two major drivers: special purpose vehicles and special purpose acquisition companies. Covering those from Ma...
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Freshfields advises Micro Connect on launch of Micro Connect Macao Financial Assets Exchange

 2023 Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Micro Connect, a new financial market platform, on the launch of Micro Connect Macao Financial Assets Exchange (‘MCEX’). MCEX is the first-ever licensed global exchange for Daily Revenue Obligations (‘DROs’), a new asset class that connects global capital with micro and small businesses in China. The goal of the platform is to make global capital more accessible and affordable to business owners, and give global investors direct and diversified exposure to the daily cash flows of the millions of stores that form part of China’s consumer economy. The first offering of DROs on MCEX took place on 25 March 2023. The Freshfields team was led by partner and China Chairman Teresa Ko and partners Grace Huang and Sarah Su, supported by senior associate James Parkin and associate Dickson Chan. Regulatory advice was provided by partner and Asia head of financial services Matthew O’Callaghan and counsel Kenneth Hui. IT / IP and d...
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Micro Connect seeks Hong Kong listing

 jun25 Micro Connect has applied to list on Hong Kong’s stock exchange, with the application filed on Wednesday aimed at raising funds from institutional investors. Micro Connect is a fin-tech company founded by Charles Li, the former CEO of Hong Kong Exchanges and Clearing – with the objective of raising capital for mainland China’s micro and small businesses. The exchange platform boasts a tradable financial instrument called the daily revenue obligation. In theory, investors receive a share of daily revenues from businesses, a new concept that challenges the traditional interest or equity. According to the Wednesday filing from Micro Connect International Finance Company, an investment company set up in May, Micro Connect seeks to be registered as a closed-end investment company under Chapter 21 of listing rules. In other words, the distribution of shares will be confined to professional investors instead of the general public. In an exclusive  interview  with Macau Bu...
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EVIDENT and IDA to Tokenize Revenue-Based Financing Products with Micro Connect

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  EVIDENT and IDA to Tokenize Revenue-Based Financing Products with Micro Connect News provided by IDA  18 Feb, 2025, 12:00 CST Share this article           HONG KONG ,  Feb. 18, 2025  /PRNewswire/ --  EVIDENT  and IDA Finance Hong Kong Limited ( IDA ) announce their strategic partnership to tokenize and distribute revenue-based financing (RBF) investment instruments listed and traded on Micro Connect ( Macao ) Financial Assets Exchange (" MCEX "), the first licensed global RBF exchange connecting global financial markets with the real economy. This unprecedented collaboration will explore the feasibility of seamless connection of asset origination with tokenized issuance, distribution, and stablecoin-based settlement of RBF investments, creating a truly integrated digital value chain. This streamlined approach is aimed at simplifying access to cash flow-based investment instruments for a diverse investor base in Web3 and private we...
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why Macao serves an underserved segment of the market

 <iframe width="560" height="315" src="https://www.youtube.com/embed/kU4TMKyCnjg?si=YLk7CE0VI7i1AI1z" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> https://www.youtube.com/watch?v=kU4TMKyCnjg
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Micro Connect founder urges domestic consumption to drive economic growth

  Micro Connect founder Gary Zhang has highlighted the importance of domestic consumption as a driver of economic growth at a recent conference. According to People’s Daily, Zhang told the conference on national consumption that “finance is the lifeblood of economic development.” Micro Connect, an asset exchange designed to pool funding for small businesses and start-ups, unveiled their operational workings in September this year. The  Micro Star , alongside a framework of rules and guidelines, was described as the backbone of a revenue-based system that has so far covered 13,000 businesses across 200 mainland Chinese cities. “Innovation in income-based financing models is driven by widespread digitalisation trends, empowering more small and medium-sized enterprises to achieve high-quality development,” he added on Monday. A company’s income, credit status, and technological level are closely associated with its level of digitalisation, he emphasised. “Without digitalisation, ...
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Lançamento Micro Star

 set24 Micro Connect has announced an operating structure for its financial asset exchange that currently involves over 13,000 micro businesses across 200 mainland Chinese cities in retail, food and beverages, sports, culture and services. The Micro Star, according to an update on Thursday, is the backbone of what the operator describes as a revenue based financing (RBF) exchange, one that is modeled after the traditional equity market. However, as founder and chairman Charles Li Xiaojia pointed out at a media Q&A session on Thursday, the exchange, also known as MCEX, relies on digitally-enabled vehicles, making the marketplace more “lighter touch” and “cost-effective”. As of the end of last year, Micro Connect investors splashed out RMB4.4 billion (US$630 million) in investment, with over RMB2 billion in returns netted. It is expected to take “two to three years” to recover the remainder of the funding. https://www.macaubusiness.com/micro-connect-micro-star-unveiled-as-operati...
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