A group of four stores under top instant retail brand Xiaocang Shenghuo (Brand Code: XCSH) successfully raised RMB 816,000 by listing Daily Revenue Obligations (DROs) with a contract period of 20 months on MCEX, according to an announcement on MCEX website.
According to MCEX data, by March 10, 2024, Xiaocang Shenghuo had raised RMB 10.159 million through the issuance of 55 DROs. Established in December 2020, Xiaocang Shenghuo focuses on the front-end warehouse management model for fast-moving consumer goods and daily necessities. Leveraging the delivery networks of various takeaway platforms, it provides consumers with convenient services, delivering orders in as fast as 30 minutes.
The subscribers to the four DROs included Panthera Fund, Carnegie Hill Capital Partners Limited, and other financial institutions.
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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