Plutus Financial Group is a small Hong Kong-based financial services firm operating through two SFC-licensed subsidiaries. Plutus Securities holds a Type 1 license and operates as a Hong Kong stock brokerage, offering securities trading via its Plutus Trader mobile app and telephone, margin financing at 8%–20% per annum, and underwriting and placing services for IPOs and secondary offerings of Hong Kong-listed companies. Plutus Asset Management holds Type 4 and Type 9 licenses, managing roughly US$20M in discretionary client assets for approximately 20 high-net-worth clients, managing several fixed income and hedge funds, and providing investment advisory services — charging management fees up to 2% of AUM plus performance fees. Plutus also operates Plutus & Guardians Capital, a licensed money lender charging 8%–36% per annum. Revenue comes from brokerage commissions, margin interest, deal fees, asset management fees, and lending interest. A notable structural feature is that Plutus pays account executives 50%–70% of revenue they generate, making net revenue retention the relevant profitability metric. The firm has only 9 full-time employees and relies heavily on management relationships for client acquisition. Plutus has agreed to acquire Choco Up, a Singapore-based revenue-based financing platform that has funded over 700 SME clients with cumulative funding exceeding US$200M across Singapore, Hong Kong, Australia, and Malaysia. The all-stock deal values Choco Up at US$85M and Plutus at US$30.7M; upon closing, Choco Up shareholders would own roughly 73% of the combined entity, which would be renamed Choco Up International Holdings.