China Everbright Limited Announces 2022 Annual Results

HONG KONG, Mar 17, 2023 – (ACN Newswire) – China Everbright Limited ("CEL" or "the Group", stock code: 165.HK) today announced its annual results for the year ended 31 December 2022 ("the reporting period").

Financial Highlights of 2022 Annual Results
— Loss attributable to shareholders of the Company was HK$7.443 billion; the unrealised loss on investments was primarily due to a decrease in the valuation of investment projects.
— Fund raising continued and total AUM reached approximately HK$165.4 billion.
— Carried out diversified exits with 86 projects fully/partially exited, achieving a cash return of approximately HK$13.9 billion.
— Maintained strong liquidity with cash and cash equivalents of approximately HK$8.2 billion and with unutilised bank facilities available for use of approximately HK$12 billion.
— Maintained dividend payments with final dividend: HK$0.15 per share.

2022 was a challenging year. The international landscape was complex. Global economic growth decelerated, and the global capital market oscillated downward. All these posed major challenges to the Group's cross-border investment and asset management business in 2022. Consequently, there was a fall in the market value, and decline in the valuation, of the investment projects held by CEL throughout the reporting period, resulting in a loss attributable to shareholders of the Company of HK$7.443 billion. The unrealised loss on investments did not have a direct impact on the Group's cash flow.

CEL made defensive decisions and overall arrangements in a timely manner. By stepping up the withdrawal and recovery of project funds, keeping strict control over business costs and expenses, and making selective investments in quality projects, the Group managed to secure the bottom line against risks and make sure business operations were conducted in an orderly manner. During the reporting period, HK$4.2 billion was contributed in aggregate to a total of 49 projects; and 86 projects were fully/partially divested, generating cash inflow of approximately HK$13.9 billion, marking good project exit and capital recovery.

As at the end of December 2022, the Group had cash and cash equivalents of approximately HK$8.2 billion and unutilised bank facilities available for use of approximately HK$12 billion. Liquidity stayed healthy and the overall financial, business and operating conditions remained sound.

During the reporting period, CEL continued to promote fund raising and maintain market leadership in fund management. As a result of exchange rate conversion, the decrease in AUM of secondary market funds under the impact of fund redemptions and the decrease in net asset value of secondary market funds, and the decrease in AUM due to the maturity of certain funds, the total AUM of the funds decreased slightly to HK$165.4 billion. There were 80 managed fund products, including primary market funds, secondary market funds and accounts, and Fund of Funds ("FoF").

To share the fruits of the Group's development with shareholders and investors, the Board declared a final dividend of HK$0.15 per share for 2022. (2021 final dividend: HK$ 0.30 per share)

Business Highlights of 2022 Annual Results

1. Fund Management Business

In 2022, CEL carried out the Fund Management Business in a steady and orderly manner, seizing the window of opportunity at each stage of "fundraising, investment, management and exit", while also adopting the strategy of "precise investment and stable exit" to promote high-quality business development.

Focused on emerging industries, while fundraising remained steady. CEL funds were established to focus on high-end manufacturing, information technology, green and environmental protection, new infrastructure and niche businesses as an investment approach, and the Group strengthened its investment in the Belt & Road Initiative Green Fund-of-Funds and the establishment of regional sub funds. Capital CEL Specialised and New Enterprises Fund and Nanjing Direct Investment Fund for Belt & Road Initiative Green Fund were set up. Asian Infrastructure Investment Bank has approved to commit US$100 million in CEL Infrastructure Investment Fund II.

Practiced the development of science and technology investment and captured investment opportunities prudently. The fund management of CEL made careful and prudent investment decisions in high-quality projects such as CNNP Rich Energy, Kunyu New Energy, Tianmu Xiandao Battery and Ganzhou HPY Technology, among which Tianmu Xiandao Battery and Ganzhou HPY Technology won a number of national awards in 2022.

Implemented diversified exit channels to speed up capital withdrawal. Transfer and IPO exit methods were combined together. The Group exited from overseas projects such as Norwegian public transportation project, vehicle inspection system and BPG project (an advanced equipment manufacturer) by way of transfer. Seven investment projects (Giant Biogene, Recbio, Credo Technology, SatixFy, ASR Microelectronics, iSoftStone and Haitai Solar) were listed on the Hong Kong Stock Exchange, NASDAQ in the United States, Shanghai Stock Exchange STAR Market, Shenzhen Stock Exchange ChiNext and Beijing Stock Exchange respectively by way of IPOs.

2. Key Investee Companies

CALC was growing steadily with the strengthened layout of the entire aircraft industry chain. The fleet size continued to expand, and the number of fleets increased to 176. CALC has become the first aircraft recycling company accredited with Diamond Status (the highest level) by the Aircraft Fleet Recycling Association ("AFRA"). CALC has been firmly serving the national strategy of opening up the overseas market for China-made large aircraft. Its Indonesian airline TransNusa officially received the regional jet ARJ21, which was the first time China-made jets entered the overseas market. It was of great significance that the new development pattern is being built under the Belt & Road Initiative and the "Dual Circulation" strategy.

Everbright Senior Healthcare implemented social responsibility through development. With 34,000 beds under management, and 194 elderly care institutions and community service sites, it ranked second among "Integrated
Business Enterprises in the Impactful Healthcare Industry for 2022", as published by Guandian. At the same time, Everbright Senior Healthcare actively responded to the call of the state and participated in work related to the transformation of training and recuperation institutions organised by the National Development and Reform Commission, demonstrating its responsibility.

Terminus reached a new level of development with research on AIoT. A new upgrade of the operating system has been realised, and a number of research results have been included and published by CVPR, a top conference in the field of artificial intelligence. TacOS 3.0 and the cloud-edge integrated product matrix have been released. In addition, Terminus has recruited three world-renowned scientists, and has taken the initiative to undertake national-level technology research tasks, such as a multi-modal network based on 6G communication technology as well as national key communication R&D projects.

3. Rich Resource Reserves

Increased liquidity reserves. In 2022, the new bank loan facilities of CEL exceeded HK$21.2 billion. In June, the Group successfully issued RMB3 billion 3-year medium-term notes at the National Association of Financial Market Institutional Investors. As at the end of December 2022, the Group's cash on book amounted to approximately HK$8.2 billion and unutilised bank facilities amounted to approximately HK$12 billion.

Enhanced the coverage of scientific and technological innovation resources. CEL supported innovative development based in Hong Kong, with China Everbright Hong Kong Innovation Centre and CEL Global Partner Project in the Hong Kong Science Park as our backup; CEL supported the construction of an innovation and technology centre in Hong Kong to incubate start-ups and capture investment opportunities. In particular, the incubator at China Everbright Hong Kong Innovation Centre is currently over-occupied with start-ups.

Strengthened regional development to increase investment exposure in a mass market. CEL carried out an in-depth layout of the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area, and actively participated in the build-up of the Chengdu-Chongqing Economic Circle, Hainan Free Trade Port and Xiongan New Area. The overall planning comprised of software and networks, retailing, consumer goods, healthcare and other fields.

4. Comprehensive Improvement of Environmental, Social and Governance

CEL continued to enhance its ESG management policy, optimised a number of internal management rules and regulations such as risk management guidelines and the board diversity, and improved its climate change management policy and organisational structure. CEL benchmarked itself against the industry's state-of-the-art technology by officially becoming a TCFD sponsor. During the reporting period, MSCI adjusted the Group to the more competitive category of "Asset Management and Custodian Bank" during the reporting period. The Group's ESG rating was upgraded from B to BB, with a score increase of 48%.

Over the past 25 years, the Group has been firmly committed to its long-term investment strategy and deep involvement in promising specialised industries. The Group has gone through multiple economic and industry cycles and built valuable and rich management experience and a solid track record. The 20th National Congress of the Communist Party of China has embarked a new journey of Chinese-style modernisation, and the new development pattern of China's economy is being accelerated. Hong Kong is ushering in a new chapter of development from governance to prosperity, and Hong Kong's unique competitive advantages and favourable development conditions are being further highlighted. CEL will firmly seize the opportunity to work hard, utilise cross-border resources, strengthen fundraising, invest prudently and prevent risks. Through a series of proactive measures, CEL will spare no effort to promote the high-quality development of the Group's business to build a leading Chinese cross-border investment and asset management company.

Mr. Zhang Mingao, Executive Director and President of China Everbright Limited, said: "In 2022, in the face of severe market environment and challenges, CEL has risen to the occasion, actively addressed risks, stabilised business development, improved management efficiency, achieved cost reduction and efficiency, and laid a solid foundation for high-quality development. Standing at a new historical starting point, we have full confidence in the future. In 2023, we will uphold our business philosophy of 'seeking progress while maintaining stability' to address 'risks' and 'opportunities' and coordinate 'stability' and 'progress', continue to expand AUM to increase the contribution of management fee income, and re-achieve efficient value creation through precise investments and reliable exits. In addition, we will continue to develop an asset-liability structure with sufficient liquidity, and further enhance dividend-paying ability to share the fruits of the Group's development with shareholders and investors."

Copyright 2023 ACN Newswire. All rights reserved.

HKTDC takes Building for the Future campaign to Indonesia

HONG KONG, Feb 28, 2023 – (ACN Newswire) – To help Hong Kong's infrastructure and real estate-related services (IRES) sectors seize arising opportunities, the Hong Kong Trade Development Council (HKTDC) is promoting its Building for the Future campaign in Indonesia for the first time, bringing a delegation to Jakarta from 27 February to 2 March.

Ir Dr Hon Lo Wai-kwok, GBS, MH, JP, Member of the Legislative Council of HKSAR (4th from L, front row), and Mr Stephen Liang, HKTDC Assistant Executive Director (2nd from R), co-led a delegation to Indonesia, and called on the local officials and industry associations, including Dr. Achmad Jaka Santos Adiwijaya, S.H., LL.M., Secretary General, Nusantara Capital City Authority (3rd from L), to explore collaboration opportunities in infrastructure construction between Hong Kong and Indonesia.

The "Building for the Future" promotion was held in Indonesia for the first time, with the highlighted "Hong Kong Forum on Urban Development" attracting more than 300 representatives from Indonesian government departments and businesses.

Dr Ir Herry Trisa Putra Zuna, Directorate General of Ministry of Public Works and Housing, Republic of Indonesia, gave remarks at the Forum.

Through events, including the Hong Kong Forum on Urban Development, business matching sessions and meetings with government and business leaders, the wide-ranging promotion gives Indonesia and Hong Kong companies an opportunity to explore partnerships.

In recent years, Indonesia has accelerated infrastructure construction in order to boost economic growth. The government allocated an infrastructure development budget of Rp392 trillion (US$26 billion) in 2023 to improve the provision of basic services, and productivity through connectivity and mobility infrastructure.

The delegation, co-led by Ir Dr Hon Lo Wai-kwok, GBS, MH, JP, Member (Functional Constituency – Engineering) of the Legislative Council of the Hong Kong Special Administrative Region, and HKTDC Assistant Executive Director Mr Stephen Liang, comprises 17 delegates from a wide range of professional sectors, including architecture, engineering, property development, construction and urban planning.

A highlight of the mission, the Hong Kong Forum on Urban Development focused on smart city, modern city development and urban planning, and architecture design. It introduced the strengths and value-added services of Hong Kong IRES and explored collaboration opportunities between Indonesia and Hong Kong in infrastructure development projects. Dr Ir Herry Trisa Putra Zuna, Directorate General of Ministry of Public Works and Housing, Republic of Indonesia, gave remarks at the Forum, with more than 300 Indonesian government and businesses leaders attended.

"As the world's largest archipelagic state, Indonesia places much emphasis on infrastructure. With its rapid infrastructure development and capital relocation, there are many arising opportunities," Mr Stephen Liang said in his welcome remarks at the forum. "The post-pandemic new normal has set in, the Hong Kong-Mainland China border has reopened, and Hong Kong has removed international travel restrictions. In this period of revitalisation, there is no better time than the present to capture new opportunities that will benefit Indonesian and Hong Kong businesses communities and strengthen economic growth in both places."

He added, "Hong Kong has long been a leader in infrastructure and real estate-related services, from building and construction to architecture, engineering and surveying. Equipped with decades of experience in large-scale building projects, Hong Kong businesses are ideally placed to provide quality services in infrastructure and real estate-related services."

The plenary session featured internationally renowned Hong Kong IRES companies – namely Arup, hpa, MVA, and Sino Group – which discussed smart city development, the infrastructure outlook as well as urban construction.

Two thematic sessions were followed, with Hong Kong delegates sharing success cases on environmental engineering and sustainable urban architecture.

The forum also featured business matching sessions for Indonesian enterprises to have one-on-one meetings with Hong Kong delegates to explore opportunities and exchange ideas about Indonesia's infrastructure and urban construction projects.

Hong Kong is known as a leading financial centre around the world. With an extensive global network, a full range of financial products and a large talent pool, Hong Kong is an ideal place for Indonesian companies to engage in IRES projects.

Over the course of the next two days, the delegation will meet with Indonesian government and business leaders during visits to prominent infrastructure and urban development to capture business opportunities between Indonesia and Hong Kong.

Since the launch of the Building for the Future campaign in 2015, the HKTDC has led Hong Kong urban development services missions to eight cities in Mainland China and Kuala Lumpur, Malaysia. The HKTDC will continue to organise promotions to highlight Hong Kong's strengths in infrastructure and urban construction.

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The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: Follow us on Twitter @hktdc and LinkedIn

Media Enquiries
Please contact the HKTDC's Communication and Public Affairs Department:
Kate Chan, Tel: +852 2584 4239, Email:

Copyright 2023 ACN Newswire. All rights reserved.

HKTDC welcomes 2023-24 Budget

HONG KONG, Feb 22, 2023 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) welcomes the Hong Kong Special Administrative Region (HKSAR) 2023-24 budget, which allocates additional funding of HK$550 million over five years to the HKTDC to help Hong Kong enterprises seize opportunities arising from the Belt and Road Initiative (BRI) and Guangdong-Hong Kong-Macao Greater Bay Area (GBA) development as well as tapping into emerging markets and stepping up global promotional efforts.

HKTDC Chairman Dr Peter K N Lam delivers opening remarks at the Asian Financial Forum 2023. HKTDC will organise mega events in Hong Kong, Mainland China and key overseas markets to attract investment and talents, creating business opportunities for the city.

HKSAR Chief Executive Mr John Lee led a week-long mission to the Middle East in February 2023, during which 13 MoUs were signed, including three MoUs for the HKTDC – with Abu Dhabi Chamber of Commerce and Industry, Dubai Chamber and Invest in Sharjah.

In the coming months, the HKTDC will organise more than 10 large-scale exhibitions and conferences in Hong Kong, welcoming many exhibitors and buyers from Mainland China and overseas.

HKTDC Chairman Dr Peter K N Lam said: "We are grateful for the support from the Financial Secretary. The HKTDC will fully support these measures to continue to strengthen Hong Kong's role as an international business centre, tell the good stories of Hong Kong and capitalise on the city's distinctive advantages of enjoying strong support from the Motherland, while being connected to the world. Covering a wide range of industries, the HKSAR 2023-24 budget facilitates Hong Kong's economic revitalisation and reflects the HKSAR Government's commitment to realise high-quality economic development. The HKTDC will work closely with the HKSAR Government to create new opportunities for different industries and help them capitalise on national development, enabling them to diversify and grow on the road to recovery."

Market expansion through HKTDC events

Dr Lam added that the HKTDC has been helping Hong Kong businesses expand to new markets over the years, especially the vibrant BRI countries, Regional Comprehensive Economic Partnership (RCEP) economies and GBA, and will continue to engage in a series of promotional activities to support growth aspirations of businesses.

These include product-focused SmartHK and product-focused ChicHK in the GBA in May, while we will promote the Hong Kong brand and its many advantages in Thailand in July with our Think Business, Think Hong Kong campaign.

In addition, the HKTDC will set up a Hong Kong pavilion in major trade events in Mainland China, such as the China International Consumer Products Expo in Hainan in April and China International Import Expo in Shanghai in November. The HKTDC will help local businesses explore emerging markets through business missions.

Promote high-quality development

The 2023-24 budget aims to promote high-quality economic growth that matches with national development strategies, focusing on areas, such as finance, sustainable development, innotech and biotech.

Dr Lam added that these are the Council's promotional focuses and will cover these elements in HKTDC's flagship events, including the Asian Financial Forum, the inaugural InnoEx, Asian Summit for Global Health as well as Belt and Road Summit and Asian Logistics, Maritime and Aviation Conference. The HKTDC will also cover green economy and sustainability in its SME support schemes.

Dr Lam concluded: "Reducing profits tax, extending the SME Financing Guarantee Scheme and enhancing the BUD Fund will help ease operational pressures of local businesses, especially SMEs. Driving development through innovation and technology and green transformation will help diversify our economy and support local businesses expand to new markets and seize new opportunities. The HKTDC will continue to play a pivotal role in Hong Kong's road to recovery."

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The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: Follow us on Twitter @hktdc and LinkedIn.

Media enquiries
Please contact the HKTDC's Communication and Public Affairs Department:
Beatrice Lam, Tel: +852 2584 4049, Email:
Sam Ho, Tel: +852 2584 4569, Email:

Copyright 2023 ACN Newswire. All rights reserved.

HKIRA 9th IR Awards 2023 now open for nomination

HONG KONG, Feb 7, 2023 – (ACN Newswire) – Hong Kong Investor Relations Association (HKIRA) is pleased to announce that public nomination is now open for the HKIRA 9th IR Awards 2023 (the 'Awards'). This will be the ninth consecutive year of the Awards at which remarkable practices of good IR and corporate governance are recognized among Hong Kong listed companies.

Mr Vincent Ching, Managing Director, Head of Intermediaries Business (Asia Pacific) of Value Partners Group, Professor Louis Cheng, Dr. S H Ho Professor of Banking and Finance and the Director of Research Centre for ESG, The Hang Seng University of Hong Kong, Chairman of the Judging Panel, Dr Eva Chan, Founding Chairman of HKIRA and Mr Kevin Leung, Investor Relations Director & Company Secretary of China Resources Beer (Holdings) Company Limited (From left to right).

Dr Eva Chan, Founding Chairman of HKIRA, said, "Entering the post-COVID era, it is time for IR professionals to look deeper into how best to improve communications with different stakeholders. COVID has certainly brought about changes to the industry, with increasing focus on ESG, health-consciousness and wellness overall, as well as more effective use of technology in communications between relevant parties. We are glad to see the IR community adapting well to such changes in the market and we look forward to recognizing more listed companies with best practices at this year's Awards."

Last year, 167 award entries were received from listed companies, over 790 eligible voters and over 290 voting institutions participated in the voting. 48 winners from various categories were recognized at the Awards. Among the winners, China Resources Beer (Holdings) Company Limited (stock code: 00291), Yue Yuen Industrial (Holdings) Limited (stock code: 00551), and Sa Sa International Holdings Limited (stock code: 00178) were awarded Overall Best IR Company by company size – Large Cap, Mid Cap, and Small Cap – respectively.

The HKIRA 9th IR Awards 2023 is once again honoured to have Professor Louis Cheng, Dr. S H Ho Professor of Banking and Finance and the Director of Research Centre for ESG at, The Hang Seng University of Hong Kong, as the Chairman of the Judging Panel. Being an advocate and a researcher of best practice of IR, Professor Cheng has in recent years been promoting the idea of integrating ESG into investors' decisions. ESG-related awards have been added to the HKIRA IR Award categories since 2020. In addition, Professor Cheng has been working with HKIRA to continuously fine-tune the ESG award criteria to better reflect the latest development of ESG requirement in Hong Kong and Asia in order to recognize companies deserving such a recognition.

Public nomination for the HKIRA 9th IR Awards 2023 is now open to Hong Kong-listed companies. Nominated individuals and companies will be placed on the online voting list upon confirmation of their participation. The investment community, including buy-side and sell-side analysts, and fund managers, are eligible to vote. Nominees with the highest votes (weighted) in each award category will be shortlisted and then undergo a final assessment by the judging panel. Finally, the Most Progress in IR, the Overall Best IR Company Awards and the Grand ESG Award will be selected by the judging panel. Facilitating a fair and balanced evaluation, the judging panel comprises academics, representatives from professional associations and the investment community.

The HKIRA 9th IR Awards 2023 scheme has a total of 15 award categories honouring best IR practices of individuals and companies. Among these awards, 12 categories are open for nomination and voting, while the other 3 awards are selected by the judging panel. The award winners are to be announced at a ceremony to be held in Hong Kong in June 2023. For more information, please visit

Strategic Public Relations Group is once again proud to be the Official Public Relations Partner and the Diamond Sponsor for the HKIRA IR Awards this year. Please find key dates relating to the Awards with its categories and criteria for selection listed in the Appendix.

Hong Kong Investor Relations Association (HKIRA) is a non-profit professional association comprising investor relations practitioners and corporate officers responsible for communication between corporate management and the investment community. HKIRA advocates the setting of international standards in IR education, advances the best IR practices and meets the professional development needs of those interested in pursuing the investor relations profession.

HKIRA is dedicated to advancing the practice of IR as well as the professional competency and status of its members. To date, HKIRA has over 1,200 members most of whom are working for companies primarily listed on the Stock Exchange of Hong Kong. About 64% of the Hang Seng Index Constituent Stock companies are currently members of HKIRA. HKIRA's members are from a wide spectrum of professions including IR, finance, accounting, company secretarial to corporate investment and hold positions at different corporate levels, including top executives responsible for IR and management of listed companies. For more information about HKIRA details, please visit our website

About the IR Awards
The HKIRA Investor Relations Awards (the "IR Awards") is an annual campaign that aims to encourage, recognize and reward the excellence in investor relations practices by individuals and companies listed in Hong Kong Stock Exchange. Since the launch in 2015, each year the Awards seeks out and highlights the incredible achievements of individuals and companies with high standards in investor relations through their role modelling to the investment community.

The Awards ceremony, consisting of a conference in the morning and presentation in the afternoon, is a spectacular gathering of IR specialists and industry professionals that applauds and publicizes the year's achievements in investor relations. For details of the Awards and online nominations, please visit

Key Dates
Nomination period: 7 February to 13 March
Online voting period: 21 March to 27 April
Judging Panel Meeting: May 2023
Award Presentation: June 2023

Award Categories / Recognition / Selection Method
Best IR Company / Company's Achievements / Open for nomination and online voting
Best IR Team / Company's Achievements / Open for nomination and online voting
Best ESG (E) / Company's Achievements / Open for nomination and online voting
Best ESG (S) / Company's Achievements / Open for nomination and online voting
Best ESG (G) / Company's Achievements / Open for nomination and online voting
Best Investor Meeting / Company's Achievements / Open for nomination and online voting
Best Investor Presentation Material / Company's Achievements / Open for nomination and online voting
Best Annual Report / Company's Achievements / Open for nomination and online voting
Best IR Company for an IPO* / Company's Achievements / Open for nomination and online voting
Best IR by Chairman/CEO / Individual's Achievements / Open for nomination and online voting
Best IR by CFO / Individual's Achievements / Open for nomination and online voting
Best IRO (Investor Relations Officer) / Individual's Achievements / Open for nomination and online voting
Most Progress in IR / Demonstration of the most progress in IR in the above areas during 2022 / Selected by Judging Panel
Overall Best IR Company Awards / Outstanding and all-round excellence in the above areas / Selected by Judging Panel
Grand ESG Award / Overall excellence in all the three areas across ESG / Selected by Judging Panel

* Companies which were listed on the Stock Exchange of Hong Kong in 2021 and 2022 are eligible to be nominated for this award.
Remarks: All awards will be further categorised by company market capitalisation into Large Cap, Mid Cap, and Small Cap, except Best IR Company for an IPO and Most Progress in IR Awards.

Judging Panel (Arranged in alphabetical order of last name)
Name / Title / Firms/Organizations
Professor Louis Cheng (Chairman of Judging Panel) / Dr. S H Ho Professor of Banking and Finance,
Director of the Research Centre for ESG, Director of the Research Institute for Business / The Hang Seng University of Hong Kong
Dato' Seri CHEAH Cheng Hye MAoF / Co-Chairman And Co-Chief Investment Officer / Value Partners Group
Mrs Amy Donati / Executive Director and Chief Executive Officer / EDICO Holdings Limited
Ms Ashley Khoo, CFA, CPA / Past President and Board Director / CFA Society Hong Kong
Mr Stephen Law / Council Member / Hong Kong Institute of Certified Public Accountants
Mr Andrew Look / Independent Non-Executive Director / CITIC Resources Holdings Limited
Ms Victoria Mio, CFA, FRM / Head of Equity Research, Asia Pacific / Fidelity International
Dr Maurice Ngai / General Committee and the Chairman of Membership Services of the Sub-Committees / Chamber of Hong Kong Listed Companies

Copyright 2023 ACN Newswire. All rights reserved.

FTX Trading Bankruptcy: Protecting Your Company’s Interests

NEW YORK, NY, Feb 2, 2023 – (ACN Newswire) – Zuber Lawler is representing entities who received investments from Alameda Research and FTX Ventures. Alameda Research and several other FTX-related entities have filed bankruptcy proceedings in Delaware. These multiple filings are all being administered under one matter, In re FTX Trading, USBC Case No. 22-11068.

Most first and second day motions have been heard and either have been granted or are currently pending. Things are moving forward.

On January 18, 2023, FTX debtors moved for an order authorizing and approving procedures for a sale or transfer of what they have termed as "de minimis assets."

FTX debtors define "de minimis assets" as investments and/or interests held by FTX debtors, including Alameda Research, in privately held companies, which (according to FTX debtors) can be easily separated from the debtors' core operations, will not disrupt the core operations, and will generate less value to the estate than other assets. FTX debtors state that the de minimis category includes approximately 185 investments made for $1 million and below, approximately 75 investments made between $1 million and $5 million each and approximately 40 investments made between $5 million and $25 million each.

Notably, FTX debtors state that they are in the process of a "strategic review" of the de minimis assets, including the potential for repurchasing of debtor interests by investees or other investors in these investments.

Although they have not identified these assets specifically, FTX debtors wish to have the court approve an established and expedited procedure for the sale/transfer of these types or category of assets, without the need of moving the court or getting court approval for each sale, but with the oversight of the Official Committee. Put in other words, they wish to get authorization to proceed with these individual sales "off line," and without the need of going through the motion procedure for each specific asset or asset group.

If Alameda Research or any other FTX entity invested in your company, that investment will likely be categorized as a "de minimis asset," subject to this motion, and will now be up for sale through the bankruptcy process. Through that process, you may be asked (compelled) to make public otherwise confidential information in order to facilitate the public auction or sale of those securities or assets. You may also be at risk of a competitor (or other unsuitable purchaser) buying an interest in your company, and in doing so, potentially obtaining other information and management rights. Even without such a sale of assets, you may now have questions around who you may need to provide information and notices to on an on-going basis, as well has who you may need to obtain consent from in order to take actions subject to restrictive covenants in your investment documents. The situation is even more complicated for issuers of SAFTs or other digital assets that may be subject to inconsistent regulation as a security (or not) across various jurisdictions (since the location of the purchaser may impact whether the SAFT/token issuer is subject to US securities law).

Zuber Lawler is in a unique position to provide the described representation. We have represented a large number of clients with operations across the entire scope of distributed ledger technology. Our clients include token issuers (fungible and non-fungible), digital asset platforms and providers of related services, as well as traditional companies (and government entities) who look to understand and enter the digital asset space. A large number of our clients are not domiciled in the United States and we are extremely familiar with the concerns these clients face. In fact several of our existing clients will be part of the ad hoc group. While we cannot make any promise of any particular result, we expect that we will be better positioned to provide the representation described above than any other firm in the United States.

If your company sold investment assets to Alameda Research or FTX Ventures, please reach out to Josh Lawler at to set a time for a short video conference to discuss specifics relating to your situation at no charge.

*Attorney Advertisement – Prior Results Do Not Guarantee a Similar Outcome.

For more information, visit

Source: Plato Data Intelligence:

Copyright 2023 ACN Newswire. All rights reserved.

GenTwo Continues Growth Story, New Inflows of Over US$1 Billion

ZURICH, SWITZERLAND, Feb 1, 2023 – (ACN Newswire) – The international securitization specialist GenTwo celebrates its 5th anniversary and looks back on a fast-paced development. In 2022 the number of new products increased by 60% and international business doubled.

The business momentum of GenTwo and its subsidiary GenTwo Digital has progressively picked up since the company was founded 5 years ago in February 2018. The products issued on its platform recorded over USD 1 billion in new inflows, resulting in a surge in assets under services growth to USD 2.5 billion as of today, despite the challenging market environment in 2022.

The number of new products increased by 60% to a total of 900. This impressive growth underpins the ongoing high level of interest in alternative and digital investments among institutional clients around the world and Gen Two's expertise to provide flexible portfolio structuring for investors.

"We were able to broaden our customer base once again in 2022 nationally and are currently servicing clients in over 25 countries. The number of clients grew by almost 50%, even 100% on an international level," says Philippe A. Naegeli,Co-Founder, and CEO.

This success is also based on a solidly developed and diverse workforce with an above-the-industry F/M gender ratio of 35:65, with 21 nationalities, totaling up to 70 employees.

Patrick Loepfe, Founder and Chairman of the Board says, "A 2022 highlight was the extension of the offering for financial intermediaries to retail investors. This move will transform the market for alternative and digital investment products and marks another pioneering achievement for GenTwo."

The main focus of 2023 remains on the continuous improvement and build-out of the service platform and its further digitization and client-centric automation. Additionally, the company pursues its international growth strategy by further internationalizing its customer base, onboarding more financial institutions onto its platform, and growing its ecosystem for investors and innovators.

About GenTwo and GenTwo Digital

Zurich-based innovative securitization specialist GenTwo has invented a new generation of financial products. The company creates securitization platforms for asset managers, banks, family offices and venture capital investors, enabling professional investors to easily invest in bankable and previously non-bankable assets. The focus on off-balance sheet investment products solves the problem of declining margins and growth barriers for many financial market participants. New performance potential emerges through granting access to a theoretically unlimited world of asset classes. Institutional investors can use GenTwo's securitization solution to realize their own product and business innovations, to make any type of assets investable and to help shape new, sustainable markets. Private investors in Switzerland can now also benefit from these innovative products via their financial intermediaries, thereby giving GenTwo the opportunity to open and expand its customer base to retail investors.

About GenTwo Digital

GenTwo Digital is based in Crypto Valley in Zug, Switzerland. The subsidiary of GenTwo enables professional investors around the world, and now also private investors in Switzerland, to securitize all digital assets, including crypto assets, in securities on the traditional financial market via their financial intermediaries.


Contact GenTwo
Simone C. Drill
Chief Marketing & Communication Officer
+41 79 207 33 49

Copyright 2023 ACN Newswire. All rights reserved.

SAF makes SET Market for Alternative Investment (MAI) debut, embarks on a growth plan to accentuate leadership in special grade steel business

BANGKOK, Jan 19, 2023 – (ACN Newswire) – S.A.F. Special Steel PCL (SET: SAF), one of Thailand's leaders in high-grade steel supplies and vacuum hardening services, today made a trading debut on the Stock Exchange of Thailand (SET) Market for Alternative Investment (MAI). SAF's entry in the industrial products segment came on the heels of a successful initial public offering (IPO) of 80 million shares at 1.93 baht per share.

SAF's leadership in special grade steel, and potential to grow with target industries, and the management team's experience and vision will make SAF a quality stock for the Thai capital market. [Image: SAF]

Mr Pisit Ariyadejwanich, Chief Executive Officer of SAF hailed the SET Market for Alternative Investment (MAI) debut as a crucial milestone in the firm's 30-year-plus history, marking a new chapter in business expansion. "This is an important step and the pride of the management, team members, and all stakeholders who have contributed to this remarkable success," he said.

With the MAI listing, SAF is targeting growth in the country's three main industries, namely automotive parts, construction materials, and food. It is prepared to expand by building the new warehouse and setting up the nitriding furnace system, as well as seek growth opportunities in the CLMV countries which includes Cambodia, Laos, Myanmar, and Vietnam.

SAF is ready to capitalize on its experience and expertise of more than three decades in the sales of special-grade steel and providing vacuum heat treatment services. SAF has been entrusted as the distributor of high-quality special steel from leading German brands such as DORRENBERG EDELSTAHL GmbH and WILHELM OBERSTE-BEULMANN GmbH.

The company is committed to delivering innovative products and high-quality services, improving the efficiency of human resources and completing operational processes, as well as following good Environmental, Social, and Governance (ESG) guidelines.

The three key industrial sectors that SAF will focus on, with potentially significant growth are:
– Automotive parts industry using special grade steel to make molds and dies to produce parts for automobiles, motorcycles, as well as agricultural machinery vehicles
– Construction materials industry using special grade steel to make dies to produce aluminium profiles for window and door frames, machinery parts in the production of cement and steel for construction works
– Food industry using special grade steel to make molds and dies to produce pans, pots, LPG cylinders, cans, and packaging bottles, and machinery parts in the sugar cane production process, and so on

The company will focus on expanding its customer base by offering hardening services together with mold steel selling, launching new products, and participating in bidding for various public and private projects.

Concurrently, SAF is also looking for opportunities to expand into 'New S-curve' industries such as electric vehicles (EV), as well as expanding its business to CLMV countries.

Furthermore, SAF will seek authorization from German partners to be the exclusive distributor of special grade steel products in those countries.

In addition, the company has targeted on achieving an annual growth rate of 23-28% during 2023 to 2024 in line with the increased inventory capacity and the addition of nitriding hardening services, of which, enable SAF to respond to customers better and more comprehensively.

Miss Veeraya Sriwattana, Head of Investment Banking CGS-CIMB Securities (Thailand) Co., Ltd., lead underwriter of the SAF new share issue, said the firm's MAI listing would boost its business potential and enhance capital strength to support the business expansion plan. According to the company's goals, this consists of increasing its warehousing capacity to 4,000 tonnes, with the expansion of the SAF3 warehouse, and investing in a nitriding furnace system to provide a one-stop hardening service for industrial customers.

She also said that with SAF's leadership in the business of special grade steel, the potential to grow continuously along with the targeted industries, and the management team's vision and experience will make SAF a quality stock for investors in the Thai capital market.


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ShineGlobal Social Networking Market Report 2022: ByteDance, Match Group, NewbornTown & More Lead Industry Trends

HONG KONG, Jan 17, 2023 – (ACN Newswire) – Social networking establishes the connection and interaction between people. Entering the Internet era, social networking products bring everyone closer to each other. For Internet companies, social networking products are closest to people and can build an infinite commercialization derivative space based on the relationship chain, which is why this business looks both sexy and real.

Recently, ShineGlobal, a global industry think tank, released the "Global Audio and Video Social Networking Market Report 2022" which provides a detailed overview of the global audio and video social networking market size, market segmentation in 2022, and the industry development trends in 2023.

After the epidemic, audio and video social networking has undoubtedly become the most popular product format in the sector, and more and more developers are eager to have a try. In addition to TikTok, a short-video app that has successfully achieved globalization in recent years, audio and video social apps such as Match Group's Azar, Joyy's Bigo Live, and NewbornTown's MICO have gradually become the main force of globalization.

1. Audio and Video Social Networking Has Become the "Rigid Demand" for Users Around the World

In 2022, although our offline activities gradually restored, the online life is still a major trend, and people continue to migrate their life scenes from offline to online. Social networking, as an indispensable part of people's daily life, has maintained a rapid growth. Currently, most social networking products on the market have incorporated audio or video features with strong immersion, making users, especially the young, more dependent on these products.

According to Frost & Sullivan's forecast, the global social media market size is expected to grow at a CAGR of 15.1% from 2021 to 2024, with a CAGR of 27.6% for video social market size and 25.8% for audio social market size. The growth rate of audio and video social far exceeds the overall growth rate of online social market. It is expected that by 2024, the overall size of the global social media market will reach US$300 billion, of which the audio and video social market size is US$181.3 billion. Video social is expected to reach US$128.7 billion, accounting for 42.8%; audio social is expected to reach US$52.6 billion, accounting for 17.5%.

Currently, the normalization of the epidemic has driven a high increase in users' time spent on social media in almost every country and region. In social apps, there is an average of 325% year-over-year growth in usage time per user. This trend is also reflected in the number of downloads. According to Branch, downloads of social apps saw rapid growth at the beginning of the outbreak, and maintained a stable trend afterwards.

In terms of market performance, global audio and video social app downloads are mainly from countries such as India, the US, Brazil, and Indonesia, while users from countries in the Middle East, Africa, and other emerging markets are embracing audio and video social products most rapidly.

In addition, the Report lists in detail the mega apps and established apps in each segment of the audio and video social networking, as well as products that have achieved rapid growth since 2022. For example, in "Sociality + Live streaming", Bigo Live and MICO are at the top. In "Sociality + Voice Call", Litmatch has grown rapidly in the past year, and its cumulative downloads exceeded 45 million in the first 10 months of 2022. In "Sociality + Game", WePlay is recognized as the product that has rapidly captured the hearts of young users in many markets around the world in the past year.

2. ByteDance, Match Group, NewbornTown and Joyy Group Have Stepped Out of Various Successful Routes

It's easy to get a social app to gain the favor of a group of people, but it's tough to get it popular in multiple countries around the world and become an integral part of their social entertainment lives. Gaining a firm foothold in multiple regions and developing into a global social product cannot be achieved without innovative product ideas and mature operation methods. ByteDance, Match Group, NewbornTown, and Joyy Group have been able to stand out from the fierce competition by putting on unique "armor" for their products.

ByteDance: Copying + Localization

We can say, the most successful global social product in recent years is TikTok. In the harsh international environment, its global monthly active users exceed 1.5 billion, making it not only the fifth largest social app in the world, but also overturn the landscape of online video social networking. In the US and UK, the average monthly usage time of the app has exceeded that of YouTube, affecting the entire mobile ecological landscape and stimulating the rise of a number of short-video platforms, such as India's MX TakaTak and Moj, both of which were ranked in the top 10 apps with breakthrough in downloads by Today, ByteDance has made TikTok a threat to YouTube, Snapchat and Instagram.

TikTok has leveraged some of the strategies that have proven successful in China. Previously, Douyin, the Chinese version of TikTok, gained traction by using "hashtag challenges," such as its partnership with Haidilao Hot Pot to call on users to create their own hot pot recipes. Such regular region-specific events proved to be a sustainable strategy for user growth. In the US, TikTok partnered with famous American host Jimmy Fallon's hit show to launch the "#TumbleweedChallenge", which brought TikTok great exposure.

In terms of market selection, the first phase of TikTok's globalization layout chose to be in Japan, South Korea and Southeast Asia. Zhang Yiming, the founder of ByteDance, believes that Japan is a market where overseas products are not accepted easily, so Japan can be a litmus test for globalization to some extent. If Japanese users can accept a product, then users in Southeast Asia and other Asian countries can also accept it.

In August 2017, TikTok landed in Japan and set up its first overseas office there. In just three months, TikTok reached the first place in the list of free apps in App Store in Japan, and then topped the same list in Thailand in January 2018. Subsequently, TikTok could be found in the top 10 most-downloaded apps in many Southeast Asian countries. Then, TikTok directly began to expand into the North American market, and gradually expanded from North America to other markets.

TikTok's success is also based on its understanding of local users. ByteDance has adopted a polycentric-oriented strategy when expanding to different markets at the same time. The reason is obvious: The algorithm-driven product model is applicable and standard, but video content is not, so ByteDance set up subsidiaries in different countries to make TikTok better localized and launched different versions of TikTok to users.

NewbornTown: Brand Marketing Based on Local Conditions

NewbornTown also made localized development as its competitive advantage. It has been on the road to globalization since 2013 and has built a mature and replicable system for globalized operations, enabling its products to land quickly in key markets and grow efficiently with localization. In the past year, the company has further rooted itself in regional markets and continued to deepen its localized operations.

To expand its brand presence in different countries and regions, and to make users not feel that they are using a foreign product, MICO, NewbornTown's live-streaming social app, is conducting brand marketing campaigns in different markets to suit local cultures and customs.

In the US, MICO provided a platform for local rap fans to show themselves, shooting music videos for contest winners; in Japan, MICO held joint events with local soccer clubs; in Thailand and Vietnam, MICO joined hands with famous local musicians to create theme songs and shoot music videos, which have created a wave of discussion in local social media; in the Middle East, MICO held industry media gatherings and creators' conferences, to promote a positive perception of the online social entertainment industry in the local community, and promote the development of the industry in the Middle East.

Today, MICO is the head live-streaming social product in the Middle East and Southeast Asia, and is rapidly expanding in North America, Japan and South Korea. Through a mature and replicable globalized operation system, NewbornTown's customer acquisition efficiency and operation efficiency have been continuously improved, and it has surged in the global social market.

Match Group: Acquisition After Acquisition

Match Group, a global dating giant, is the parent company of Tinder. After launching Tinder in 2012, Match Group has acquired a number of dating apps such as Meetic, Plenty of Fish and Hinge. In 2021, Match Group acquired Hyperconnect, a Korean social media company, for US$1.73 billion, which was Match Group's largest acquisition to date.

Hyperconnect's core product is Azar, which has grown to become the highest-grossing one-on-one video social app in the world. According to Match Group's CEO Shar Duby, 75% of Hyperconnect's revenue and users come from Asia, just to complete Match Group's regional strategic footprint.

In addition to complementing the markets, Match Group is also looking at its "live video" technology. Previously, Match Group's apps were still based on profile matching and swipe-matching, and this acquisition may be more of a complement of product type.

It can be said that Match Group is a dating company that grew up by self-operation and acquisition at the same time. Through self-development + acquisition along the way, Match Group is now a huge dating empire with dozens of dating products such as Tinder, Match, Hinge, Meetic, OkCupid, Pairs, Plenty Of Fish, OurTime, Azar, The League, and others.

Joyy Group: Cost Reducing and Efficiency Enhancement, Back to the Essence of Business

In the midst of the overall global economic downturn and the decline in users and revenue of online products, the audio and video social industry continues to grow. However, in 2022, the user growth rate of many audio and video social products declined, and one of the reasons for this phenomenon is that many companies cut costs and increased efficiency, greatly reducing their investment in marketing.

In this regard, several practitioners expressed the same view. Most of them believe that in 2022 many social companies reduced costs and increased efficiency, returning to the essence of business. The person in charge of an audio technology service provider said that since the last year, with the increasing cost of customer acquisition, many products have shifted from the pursuit of user growth to the pursuit of revenue generated by users, focusing more on cash flow.

Take BIGO, the global business of Joyy Group, as an example, in the second quarter of 2021, BIGO's revenue reached US$598 million, with total costs + expenses of US$570 million and adjusted net profit of US$19.44 million, an adjusted net margin of 3.3%. In the second quarter of 2022, BIGO's revenue reached US$503 million, with total costs + expenses of US$445 million. However, its adjusted net profit reached US$86.3 million, with an adjusted net margin of 17.2%. It is widely believed that cost reduction and efficiency enhancement is one of the reasons for the steady growth of BIGO's earnings.

To conclude, many social industry practitioners believe that the product format of "Sociality + X" and products focusing on a certain vertical group will have more opportunities for development, and it will be difficult to see the competitive pattern of one single player getting dominance.

We still believe that there will be a lot of globalized social products in the future, and we are all looking forward to the birth of the next "TikTok".

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Mitrade Hits 2.4 Million Users, Up 900,000 from Last Year

MELBOURNE, AUSTRALIA, Jan 12, 2023 – (ACN Newswire) – January 12, 2023 – Mitrade, a leading global CFD trading platform, has reached a major milestone by amassing 2.4 million users. This marks a significant increase from the 1.5 million users the platform had at this time last year, representing a growth of 900,000 users in just one year.

This impressive growth is a testament to the exceptional trading system that Mitrade offers to its traders. From advanced trading tools to top-notch customer support, Mitrade has made it their mission to create a seamless and enjoyable trading experience for all of its users. The company is thrilled to have reached this milestone and is excited to continue providing users with the best possible trading experience.

Mitrade wishes to extend their gratitude to all of its 2.4 million users for their support and trust in the platform. The future looks bright for Mitrade as the company continues to grow and innovate.

New Trading Features and Upgrades

Over the past year, Mitrade has implemented numerous new features and upgrades to their platform, including advanced charting tools, launching a PC client available on both Windows and MacOS, improved security measures, and an updated sleek user interface. They also made a big effort to boost their customer support team to ensure that all clients receive prompt and helpful assistance. Mitrade also plans to release their very own education platform, Mitrade Academy, in the first quarter of 2023.

Won Eight Financial Awards

Mitrade’s commitment to excellence in every area of their business has earned them these prestigious honors. In 2022 alone, Mitrade has won eight awards, recognizing their efforts on different aspects in the industry.

Some notable awards that Mitrade won are the Best Forex Broker, Fastest Growing Fintech Broker and Best Forex Educational Resources. Mitrade is proud to have been recognized by industry experts and intends to continue to work hard to maintain its reputation as a leading provider of CFD trading.

About Mitrade

Founded in 2011, Mitrade is a multi-licensed leading online CFD trading platform that offers a wide range of financial instruments including forex, commodities, and indices. With a focus on user experience and customer support, Mitrade is committed to providing a simple and accessible trading experience for all of their clients. For more information, visit

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Asian Financial Forum kick-starts 2023 on a positive note

HONG KONG, Jan 11, 2023 – (ACN Newswire) – The 16th Asian Financial Forum (AFF) kicked off today on a positive note, attracting over 1,000 participants on day one, including more than 100 global leaders and officials invited as speakers and 19 delegations from Mainland China and overseas. This was also reflected in the results of a poll conducted at the event, in which close to 70% of respondents indicated a neutral to positive sentiment towards the global economic outlook.

The 16th Asian Financial Forum opened today in physical format with digital extension and will run for two days at the Hong Kong Convention and Exhibition Centre.

Mr Ban Ki-Moon, Former (Eighth) Secretary-General of the United Nations, delivered a speech during the keynote luncheon.

AFF Deal Flow Matchmaking Session was once again held in physical format, facilitating business collaborations through face-to-face communication.

This year's Forum, themed Accelerating Transformation: Impact – Inclusion – Innovation, comes hot on the heels of the resumption of quarantine-free travel between Hong Kong and Mainland China, along with Hong Kong's international business travel returning to normal.

After two years of being held in virtual format, the two-day event, co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), returned in physical format, in addition to being available online.

The Forum was officiated by HKSAR Chief Executive Mr John Lee. HKTDC Chairman Dr Peter K N Lam also delivered his welcome remarks: "The Forum is the first flagship financial event held in hybrid format to kick-start the new year. Hong Kong has long been a leading global financial centre, and the global financial leaders' visit to Hong Kong solidifies our important role in the region and the world at large. Global cooperation has become more important than ever. Our collective aim is to stimulate growth, and if we join hands, we can do just that in this new normal we operate in."

The AFF opened with a plenary session hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR. The panelists included Ms. Yuriko Backes, Minister of Finance, Luxembourg; Dr Benjamin Diokno, Secretary, Department of Finance, Philippines; Dr Zamir Iqbal, Vice President, Finance and CFO, Islamic Development Bank; Mr Jin Liqun, President and Chair, Asian Infrastructure Investment Bank; Mr Ahmed Saeed, Vice President for East Asia, Southeast Asia and the Pacific, Asian Development Bank; Mr Jean-Paul Servais, Chairman, International Organization of Securities Commissions (IOSCO) and Chairman, Financial Services and Markets Authority (FSMA Belgium); Mr Arkhom Termpittayapaisith, Minister of Finance, Thailand and Dr Tao Zhang, Chief Representative, Representative Office for Asia and the Pacific, Bank for International Settlements.

At the policy dialogue, Mr Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, chaired a panel featuring Mr Otavio Damaso, Deputy Governor for Regulation of the Central Bank of Brazil; Dr Dong He, Deputy Director of Monetary and Capital Markets Department of the International Monetary Fund; Ms Verena Ross, Chair of the European Securities and Markets Authority; and Hiroto Uehara, Deputy Director-General of the Bank of Japan.

Real-time polling conducted during the Forum gauged participants' views on a broad range of subjects. When asked about the major challenges facing global growth in 2023, 60% of participants believe that the intensifying geopolitical risks will pose the biggest threat. 29% of participants believe the continued tightening of monetary policy will be the biggest risk, apart from cyber breaches and security risks (3%) and high corporate debt restraining business investment (8%). When asked about the possibility of innovation and technology bringing more benefits than risks to growth, 87% of participants said it was very likely or likely.

Ban Ki-Moon on multilateralism in a fraught world

At the keynote luncheon on the first day moderated by Mr Ronnie C. Chan, Chairman of Hang Lung Properties, Mr Paul Chan Mo-po, Financial Secretary of the HKSAR and Mr Huang Zhaohui, CEO and Chairman of the Management Committee of the China International Capital Corporation, delivered remarks. The luncheon also featured Mr Ban Ki-moon, eighth UN Secretary-General, as the keynote speaker. In his speech, he stated: "COVID-19, climate change and other global crises have underlined our fundamental interconnectedness. These events have also made it clear that we need global solutions to holistically address the enormous challenges that we are now facing. The UN Sustainable Development Goals and Paris Climate Agreement provide humanity with a collaborative blueprint to ensure the future that we want, while leaving no one behind. To achieve this noble goal, all stakeholders, including financial and business leaders, should strengthen cooperation, innovation, engagement and action. We can harness this time of uncertainty to pave the way towards a more sustainable, healthy and prosperous world for all."

In addition, financial and business leaders also attended sessions that explored prospects for the global economy. In her speech, Ms Valerie Baudson shared : "Speaking about 2023, I think there will be three factors, which will determine the global outlook. The first one is the Central Bank's policy with inflation, which starts to decrease. The second one, the energy crisis and the way the European governments will go on managing them, and the third one is of course the Chinese reopening, which will be very important for global growth". Gu Shu opined that: "The world economy is facing multiple challenges, but it is in better shape compared to that of the last few years. We have experienced sluggish trade and investment, high inflation, and disrupted global supply chains. This year downward pressure remains, but we believe inflation in major economies will start to come down. Growth rate may not be fast, but still in positive territory. We see opportunities coming from green transition and digitization. We call for countries to make concerted efforts to normalize the global economy."

In the afternoon, the inaugural Global Spectrum, Dialogue for Tomorrow and Fireside Chat sessions analysed social trends that impact our future, including financial innovation, healthcare and impact investing, and highlight opportunities and challenges facing start-ups in the Guangdong-Hong-Kong-Macao Greater Bay Area (GBA), and the potential of non-fungible tokens (NFTs) and digital collectables to drive the digital economy.

In view of the growing importance of Environmental, Social and Governance (ESG) among corporates and investors, the HKTDC and PwC presented a joint research paper on "Financing the Corporate Transition to a Sustainable Future" at the AFF. Mr Raymund Chao, Asia Pacific and China Chairman of PwC, shared the findings: "It was a great opportunity for us to partner with HKTDC to release our joint research study today at the Asian Financial Forum. Our survey, which centred around ESG transformation, pointed to a number of challenges and opportunities facing local corporations in delivering meaningful results on their ESG journey and effectively financing their ESG initiatives. Businesses need to embrace a game-changer mindset, while working together with all levels of stakeholders to build trust and drive sustained outcomes in this space. As policymakers bring additional focus to ESG, along with higher C-suite awareness, we believe this will not only further Hong Kong's development in green finance, but will also propel the world forward towards a sustainable future."

Providing connections for investors

The AFF Deal Flow Matchmaking Session, co-organised by the HKTDC and the Hong Kong Venture Capital and Private Equity Association, have returned in physical format. More than 600 matchmaking meetings are expected to be held. While the sessions take place in-person on 11 and 12 January, they continue online until 17 January, allowing investors and project owners more time to connect and explore collaboration opportunities. Representatives from a variety of industries will participate in this much-anticipated session, ranging from deep technology, digital technology and media, and medical technology to education, infrastructure and real estate services.

The Forum continues to provide a platform facilitating projects and business matching among global finance and trade institutions. For instance, the Indonesian Real Estate Developers Association (REI) and Institution of Public Private Partnerships in Hong Kong signed a memorandum of understanding on the first day of AFF to strengthen collaboration in infrastructure. Yedpay, an exhibitor in the Forum's FinTech Showcase, also joined hands with global financial institutions and local universities at the event to launch a collaboration framework on jointly developing various payment technologies.

Two women leaders delivering keynote addresses tomorrow

The AFF will continue to feature stimulating and thought-provoking sessions tomorrow, including a keynote speech in the morning on the promotion of climate change delivered by Ms Christiana Figueres, former Executive Secretary of the United Nations Framework Convention on Climate Change, and Co-founder of Global Optimism. Ms Helen Clark, former Prime Minister of New Zealand, will join the keynote luncheon as a guest speaker to share her experiences as an influential global leader and her mission to promote a diverse and inclusive culture.

There are over 20 workshops and panel discussions on a myriad of topics, such as sustainable development and ESG, green finance, inclusive capital markets, family office challenges, digital Reminibi and innovative technology development. Highlighted speakers include Dr Norman Chan, Chairman of RD Wallet Technologies / RD ezLink; Mr Charles Li, Founder and Chairman of Micro Connect; Dr Feng Xiao, Chairman of HashKey Group; Dr Giovanna Graziosi-Casimiro, Head of Metaverse Fashion Week of Decentraland and Mr Sebastian Fahey, Executive Vice President and Managing Director, EMEA and Executive Lead of the Metaverse at Sotheby's.

The HKTDC is providing a variety of exclusive travel, food and hotel discounts for overseas delegates, to enrich their stay in Hong Kong beyond the two-day Forum. For details, please visit:

– Asian Financial Forum:
– Programme:
– Speakers List:
– HKTDC Media Room:
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The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: Follow us on Twitter @hktdc and LinkedIn.

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