A group of 14 stores under the southern Chinese beauty salon brand Qing Hua Ci (Brand Code: QHCC) successfully raised RMB 4.301 million by listing Daily Revenue Obligations (DROs) with an average contract period of 37 months on MCEX, according to an announcement on MCEX website. The subscribers to the 14 DROs included Panthera Fund and other financial institutions.

According to MCEX data, by March 20, 2024, Qing Hua Ci had raised RMB 7.985 million through the issuance of 20 DROs. Qing Hua Ci is a well-established brand in the Guangzhou-Shenzhen area, with more than 200 stores. It caters to the beauty and wellness needs of mature communities, offering services like skin care, moxibustion, and SPA treatments, primarily located in upscale residential areas.


A collection of four stores under top peking duck restaurant Xiheyayuan (Brand Code: BJXH) successfully raised RMB 2.597 million by listing Daily Revenue Obligations (DROs) with a contract period of 16 to 36 months on MCEX, , according to an announcement on MCEX website.. The subscribers to the four DROs included Panthera Fund, Cypress Hong Kong Limited Partnership Fund, Oriental Patron Securities Limited, and other financial institutions.

According to MCEX data, by March 20, 2024, Xiheyayuan had raised RMB 49.816 million through the issuance of 38 DROs. Founded in 2008, Xiheyayuan operates 39 stores under three different sub-brands across 15 first- and second-tier cities in Mainland China, Hong Kong, and Macao.


MCEX is dedicated to creating a market-driven, open-source exchange platform for the issuance and trading of DROs. Since launching its Market Accepted Protocol (MAP) on January 16, 2024, the platform has actively harnessed the strengths of intermediaries, brands, investors, and various market participants to support funding for micro and small businesses. Over the upcoming weeks, a variety of stores representing diverse brands will list their DROs on MCEX, further enriching a widely engaged DRO-focused investment and financing ecosystem.



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Micro Connect connects global capital with small businesses. Officially launched on August 3, 2023, Micro Connect Macao Financial Assets Exchange (MCEX) is a global exchange platform for the revenue-sharing asset class and represents Macao’s new endeavor to promote the development of innovative finance and Micro Connect’s mission to provide micro and small businesses with access to sustainable and affordable funding. As of the end of December 2023, more than 10,000 micro and small businesses had raised nearly RMB 4 billion from global investors through the platform.

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