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UPCOMING IPO

HengHong Technology Inc. (HCPC)

This company has not started trading yet. The live 5-factor QL signal switches on automatically on its first session.

About HengHong Technology Inc.

We are a company engaged in marketing, distributing, selling medicine product and providing relates services. Our medicine sales consist primarily of Traditional Chinese Medicines ("TCMD"), including those over the counter products ("OTC") for common illness with strong self-diagnosis and treatment attributes and tonics medicines for prevention and recuperation.

From HengHong Technology Inc.'s Form F-1/A filed with the SEC on 2026-09-02. The issuer's own words — QuantLogix does not paraphrase it.

Industry
Wholesale-Medical, Dental & Hospital Equipment & Supplies
Headquarters
Hainan, China

The offering

Ticker
HCPC
Exchange
XNAS
Expected listing
To be announced
Expected price range
$6–$7
Deal size
$35M
gross proceeds
Shares offered
5,000,000
Shares outstanding
25,000,000
after the offering
Implied market cap
$163M
at the midpoint of the filed range
Public float
20.0%
of shares outstanding
Share class
Ordinary Shares

Financials, as filed

The audited financial statements for this issuer are in its Form F-1/A filed 2026-09-02. QuantLogix only publishes figures it can read directly from the filing.

QL Listing Score — the prospectus, scored

51/100
Developing · medium confidence
The evolution of the private-company QL Score at the point of listing: four evidence pillars read deterministically from the registration statement — growth, revenue quality, technology and risk — weights frozen per version (v1.1.0), pillars with no evidence excluded and reweighted, never defaulted.
Growthno evidence — excluded
Revenue quality46
22.3% gross margin stated · recurring-revenue model per the filing
Technology38
technology-language density 0.7/10k words (lexical indicator, not a technical audit)
Risk61
issuer will be a "controlled company" under exchange rules · 8 related-party transaction mentions · lighter-than-typical hedging language
Foundationno evidence — excluded
✓ No going-concern doubt✓ No material weakness disclosed✓ Single share class✓ No customer-concentration flag◆ Emerging growth company (reduced disclosure)

From HengHong Technology Inc.'s Form F-1/A filed with the SEC on 2026-09-02. Extraction is deterministic — the same filing always produces the same score; 623k characters of the document were scanned. Technology signals are lexical indicators, not a technical audit. Not investment advice; the debut itself will be this score's first grade.

Deal terms come from the public IPO calendar and change up to pricing — an expected date reads “to be announced” until the underwriters set it, and a range is not a final price. Implied market cap and float are arithmetic on those disclosed terms. Nothing on this page is a forecast or a recommendation.

Full IPO calendar → ⭐ Track HCPC — first-signal alert on listing day Pre-IPO universe →