Key Highlights

  • Haoxi announced reverse splits of 1-for-128 and 1-for-20 in 2026.
  • Registered direct offerings of $6.5 million and $4 million closed.
  • Trailing revenue is about $54.8 million, up roughly 67%.
  • The annual report was published on September 30, 2026.

Haoxi Health Technology Limited (NASDAQ:HAO) is a small-cap Chinese online marketing business whose share structure has changed sharply in 2026, with a market capitalisation of roughly $1.5 million on about 637,600 shares outstanding after two reverse splits. The story is less about benchmark flows and more about how a fast-growing but loss-making advertising agency funds itself and maintains its Nasdaq listing.

Latest Company Context

Haoxi, headquartered in Beijing with about 26 employees, provides online marketing solutions in China. Through subsidiaries it plans, produces, places and optimises advertising campaigns, including short-video marketing, on platforms such as Toutiao, Douyin and WeChat. Trailing-twelve-month revenue stands at about $54.8 million, up roughly 67%, while trailing net loss is about $9.5 million. The company published its annual report on September 30, 2026.

The capital markets timeline has been busy. Haoxi announced a 1-for-128 reverse split on May 19 and a further 1-for-20 reverse split on August 12. It also announced and closed a $6.5 million registered direct offering in May and a $4 million registered direct offering in July. Separately, on July 14 it announced a strategic cooperation framework with NOVA MEDIA to develop an AI digital marketing system, and it has previously disclosed a partnership with Eaglepoint AI, a subsidiary of Global Mofy AI.

Key Business Drivers

First is revenue growth: the trailing revenue increase suggests demand for the company's campaign services, although advertising agencies typically operate on thin margins and the net loss shows growth has not yet translated into profit. Second is customer and platform concentration. Because its business depends on distribution through large Chinese content platforms, changes in platform pricing, policies or media-partner terms could potentially affect results.

Third is the funding model. Repeated equity raises and reverse splits can support liquidity and listing compliance, but they may also dilute existing holders and add volatility. Fourth is the AI pivot. The NOVA MEDIA framework and the Eaglepoint AI partnership indicate management wants to integrate AI tools into marketing delivery. Investors may also note that very small free floats can lead to wide intraday swings.

What Investors Should Watch

Several items could shape sentiment. Any Nasdaq correspondence on minimum bid price or other listing standards would also be relevant given the two reverse splits. Updates on whether the NOVA MEDIA framework converts into a definitive agreement, and whether it generates revenue, may be informative. Further registered direct offerings or shelf filings would be a signal on dilution. Finally, interim results could clarify whether revenue growth is being maintained and whether losses are narrowing.

Fast-Growing, Loss-Making Marketing Revenue and a Reshaped Share Structure

Haoxi combines fast-growing, loss-making online marketing revenue with two reverse splits and two registered direct offerings in 2026. Funding and Nasdaq compliance remain the open items for Haoxi.