Lichen International (LICN)

Combines China-focused financial and tax management consulting with software and maintenance, and pre-IPO advisory for companies pursuing U.S. or Hong Kong listings. Consulting work spans cost management, financial risk, financial-information systems, compliance, tax inspection preparation and operating controls; standard projects use an internal team to diagnose, report, train and support implementation.

Operates primarily through PRC subsidiaries, serving listed companies, state-owned enterprises, government authorities and other businesses across multiple regions and industries. Financial and taxation solution services provide most revenue, with work delivered through internal consultants and external experts. Revenue depends on project work customers do not have to renew, competitive pricing from local providers and converted bookkeeping agencies, external-expert and supplier inputs, and PRC rules governing cash transfers, data and overseas securities offerings.