OFA GROUP (NASDAQ: OFAL)

Introduction

OFA GROUP is an architectural design firm that operates through its wholly owned subsidiary, Office for Fine Architecture Limited, based in Hong Kong. The company combines traditional design expertise with AI tools to improve time management, labor efficiency, and project productivity.

Corporate Structure and Team Composition

• Legal Structure
  • Holding company incorporated in the Cayman Islands
  • Subsidiary: Office for Fine Architecture Limited (Hong Kong)
  • No variable interest entity (VIE) arrangements
• Professional Affiliation
  • Registered architectural practice with the Hong Kong Institute of Architects (HKIA)
• Leadership and Governance
  • CFO: Zia Choe (appointed May 15, 2025)
  • Independent Directors: John Chiang, Andrew Scott, Won Ping Cheng
• Multidisciplinary Team
  • Architects and interior designers
  • Researchers, urban designers, anthropologists
  • Graphic designers and other specialists

Key Developments

• Initial Public Offering

  • May 21, 2025: Pricing announced — 3,750,000 ordinary shares at $4.00 per share, gross proceeds of $15.0 million
  • May 22, 2025: IPO closed; shares commenced trading on the Nasdaq Capital Market under ticker OFAL

• Stock Performance (as of May 27, 2025)

  Price (USD)	Change (%)	Volume	Exchange
  7.1999	+50.31	909,466	NASDAQ

• Use of IPO Proceeds

  1. Research and development of architectural AI services and tools
  2. Establishment of dedicated in-house teams for architectural and interior design, as well as project management
  3. General working capital — including establishing a U.S. subsidiary, funding sales and marketing efforts, and developing the Company's web interface

Financial and Strategic Analysis

• Capital Allocation
  • No dividends have been declared or are planned; earnings will be reinvested in growth
  • Auditor: M&K CPAS, PLLC (PCAOB-compliant)
• Regulatory Considerations
  • No revenue generated from mainland China; the company anticipates it does not require CSRC filing
  • Subject to the Holding Foreign Companies Accountable Act — audit oversight in place
• Strategic Focus
  • Integration of AI to streamline design workflows and optimize operations
  • Interdisciplinary approach to address architectural challenges
  • Focus on resilience, sustainability, and user-centric design

Market Position and Industry Context

• Industry Dynamics
  • Architectural services are linked to real estate and construction cycles in Asia and globally
  • Increasing adoption of digital tools and AI to optimize costs and enhance project delivery
• Competitive Landscape
  • Competes with regional and international architectural firms
  • Differentiation through proprietary AI-assisted design tools and interdisciplinary expertise
• Growth Opportunities
  • Expansion into the U.S. market via a newly established subsidiary
  • Development of in-house AI design software

tl;dr

• IPO on May 21, 2025: 3.75 million shares at $4.00, raising $15 million; trading under OFAL
• As of May 27, 2025: stock at $7.1999 (+50.31%), volume 909,466 on NASDAQ
• Proceeds allocated to AI R&D, team expansion, U.S. operations, and marketing
• No dividends planned; audit by a PCAOB-registered firm
• Positioned to leverage AI in architecture; U.S. subsidiary launch underway