NEW YORK, June 4, 2026, 17:06 (EDT)
Shares of mF International Limited (Nasdaq) ended at $9.00 Thursday, off 51 cents, with volume less than 4,000 shares. The Hong Kong trading-tech firm is still facing investor pressure after it delayed its annual report and brought in a new auditor.
Timing is important here as mF is in the middle of a Nasdaq compliance clock. The company said on May 21 that Nasdaq told it it was out of compliance with Listing Rule 5250(c)(1), which says companies have to file periodic reports on time. mF hadn’t filed its Form 20-F for the year ended Dec. 31, 2025. That annual report for foreign private issuers goes to the U.S. Securities and Exchange Commission.
mF put out a late-filing notice on April 30, saying it couldn’t get the 2025 Form 20-F ready on time without too much effort or cost. In the filing, the company marked “No” when asked if it expected a big change from last year’s results in the upcoming report.
mF put out another update for holders to look at. The company said on May 22 that its audit committee fired Summit Group CPAs, P.C. as auditor, bringing in Enrome LLP as the new independent registered public accounting firm for the fiscal year ending Dec. 31, 2025. According to the filing, Summit didn’t disagree with mF, and there weren’t any reportable events except for previously reported material weaknesses.
Nasdaq stocks traded during their usual U.S. hours on Thursday. Regular equity trading ran from 9:30 a.m. to 4:00 p.m. Eastern and after-hours went from 4:00 p.m. to 8:00 p.m. Nasdaq’s 2026 holiday list doesn’t include June 4.
Dow finished at a record high, S&P 500 closed higher, but the Nasdaq ended down. Chip stocks dragged on tech shares, Reuters reported.
Trading-platform stocks were split, so MFI didn’t follow the sector. Futu Holdings slipped 41 cents. UP Fintech picked up 9 cents. Robinhood jumped $5.46 in recent trading.
mF isn’t a big name among online brokers. The investor page calls it a British Virgin Islands holding company, with units in Hong Kong. Its m-FINANCE arm sells financial trading platforms over the internet as SaaS – software as a service, not software you install.
The speculative angle for the stock is its move into crypto. In December, mF announced it finished a $500 million private placement, selling Class A shares and pre-funded warrants at $10 apiece. The money is going mostly toward Bitcoin Cash purchases and starting up digital-asset treasury efforts.
Bitcoin Cash traded at $247.50, up around 2.2% for the session. MFI shares did not move with the token in the late trade. The stock still trades on filing risk as well as crypto moves.
The company said it will work on Bitcoin Cash self-mining and will seek a Bermuda insurance license aimed at a digital-asset life insurance business. “This application aligns with our strategy to diversify our operations and establish a presence in regulated digital asset services,” Chief Executive Dawei Yuan said in February. PR Newswire
The risk scenario is clear. Getting a Form 20-F done or Nasdaq signing off on a compliance plan might help the stock, but more delays, failing to get approval, thin liquidity, or problems with the digital-asset or insurance business could keep the price swinging. Nasdaq also notes that after-hours trading usually means less liquidity and bigger price moves.
Looking ahead, July 17 is the key deadline. mF has to send Nasdaq a compliance plan by then. If Nasdaq takes the proposal, the company could get until Nov. 11 to fix compliance issues.
