Media OutReach
Chiang Mai Design Week’s 10th Anniversary: A Decade of Transforming a Creative City
Far from being a static event, Chiang Mai Design Week (CMDW) has continuously evolved, fostering diverse dynamics that have propelled Chiang Mai toward becoming a global City Branding icon as a hub of creativity. Recognized as a UNESCO Creative City of Crafts and Folk Art under the UNESCO Creative Cities Network (UCCN), Chiang Mai has also emerged as a center for design in Southeast Asia. The festival reflects the transformative power of design in driving societal, cultural, and economic development while promoting environmental sustainability. It has also inspired a significant homecoming movement, encouraging local talents to return and contribute to their hometown’s development. Over the past decade, Chiang Mai Design Week has undergone remarkable changes, creating a lasting impact across various dimensions:
1. From Local Festival to International Stage
Launched in 2014 through collaboration between the Thailand Creative and Design Center, or TCDC and local organizations, Chiang Mai Design Week began as a showcase for the city’s unique blend of traditional art and modern creativity. By 2015-2016, it introduced the creative market, workshops, and seminars, creating tangible networks and market opportunities.
From 2017 to 2019, the festival gained national and international recognition, featuring exhibitions by renowned designers and innovative integrations of technology with traditional craftsmanship. These efforts catered to global markets while preserving local cultural identity.
During the COVID-19 pandemic (2020–2021), the festival adapted its format to emphasize sustainability and environmentally conscious design. Initiatives like the HomeComing Creator project encouraged local talents to return and contribute to their communities. Exhibits such as “En.Light.En” brought together artists with connections to Chiang Mai and northern Thailand, fostering collaborations that revitalized local areas like Chang Moi and the Lanna Folklife Museum.
The festival also embraced music and performing arts, as seen in the International Street Music and Performing Arts Festival, which transformed local spaces into vibrant cultural hubs. Other initiatives included the Thai Local Coffee Festival, promoting sustainability in the coffee industry, and LABBfest, a live music event blending art and international cultural exchange.
Since 2022, the festival has aligned its activities with Chiang Mai’s status as a UNESCO Creative City of Crafts and Folk Art, forging partnerships with global creators and organizations. Notable initiatives include projects like “SANDBOX” from Moscow, which used film and animation as a developmental tool for children. The festival also featured lectures and workshops, alongside innovative events such as “MOSCOW EXPERTISE: VR/AR,” festivals and concerts in the Metaverse during and post-pandemic, presented by Russian VR artists, directors, producers, and festival curators. These initiatives underscore the festival’s role as a platform for cross-cultural exchange and innovation.
2. A Catalyst for Social, Economic, and Environmental Impact
Ms. Imhathai Kunjina, Director of the Creative Economy Agency (Chiang Mai Office), highlighted the significant positive impacts that Chiang Mai Design Week has generated across social, economic, and environmental dimensions.
“Over the past decade, Chiang Mai Design Week has driven meaningful change, raising awareness within local communities about the value of creativity and design in enhancing cultural assets. The festival has also established Chiang Mai as a destination for global travelers, showcasing vibrant creative spaces that go beyond traditional attractions. Today, Chiang Mai Design Week serves as the ‘mothership’ for annual creative events, inspiring other festivals to align their schedules, ensuring that the city becomes a hub of creative energy and diverse events during the same period. This synergy not only amplifies the city’s creative atmosphere but also offers tourists a truly unique and immersive experience.”
Economic Contributions: The festival’s economic impact has been profound, attracting increasing numbers of visitors from countries such as Taiwan, Japan, China, Singapore, Europe, and America. Over nine years, Chiang Mai Design Week has welcomed more than 1,022,869 attendees and generated over 5.36 billion THB in economic value for Northern Thailand (2018–2023). Additionally, it has revitalized historic buildings by drawing investors to renovate and repurpose them, transforming these spaces into thriving creative hubs and contributing to sustainable urban development.
Interdisciplinary Art Integration: The festival has fostered collaboration across disciplines, such as matching craft designers with emerging chefs to create unique and value-added products. Initiatives like the 2020 Homecoming Creator project have brought talented individuals back to their hometowns, reconnecting them with local communities. Moreover, events like the Chiang Mai Street Jazz Festival, featuring world-class jazz artist Igor Butman, have elevated the city’s reputation as a vibrant jazz hub. These achievements reflect the festival’s holistic approach to creative growth.
Environmental Sustainability: Chiang Mai Design Week has consistently prioritized sustainability, setting an example for eco-conscious practices. As Ms. Imhathai noted:
“The festival emphasizes ‘leading by example’ over ‘mandating actions.’ From the beginning, we encouraged creatives and architects to design reusable exhibition pavilions. In our 10th year, all pavilions are repurposed from the first festival. Informational signs are reused annually, and this year, over 95% of sign materials were replaced with recyclable options like corrugated cardboard instead of foam board, ensuring post-festival recyclability.”
Efforts to minimize environmental impact extend to reducing printed materials, utilizing solar-powered LED screens, and promoting green transportation. Since 2020, printed materials have been reduced by 30%—from 30,000 brochures and 150 booklets to 20,000 brochures in 2024—using eco-friendly paper. The festival also features electric tram shuttles and walkable event spaces, with bicycle services provided by Anywheel Co., encouraging sustainable mobility.
For vendors, we’ve organized training sessions on eco-friendly materials and sustainable practices, encouraging responsibility and adaptability for future sustainable business operations.”
Chiang Mai Design Week 2024, “SCALING LOCAL – Transforming Local to Global through Creativity, Technology, and Sustainability”
This year, Chiang Mai Design Week 2024 is set to take place under the theme “SCALING LOCAL: Creativity, Technology, and Sustainability – For Reviving Recovery.” The festival aims to elevate cultural assets and community resources to achieve global recognition while maintaining a focus on resilient community spaces that have thrived despite the challenges of COVID-19.
“Chiang Mai’s creative industries have grown significantly, showcasing the potential of local assets and talents nurtured over the years. To scale local creativity to the international stage, it is essential to integrate Creativity, Technology, And Sustainability—the three pillars that set the standard for festivals locally and globally. This year, we’re excited to welcome creators from neighboring northern provinces like Phrae, Nan, Lampang, and Sukhothai, demonstrating the festival’s decade-long influence in attracting regional creative talent,” explained Ms. Imhathai.
Chiang Mai Design Week 2024 will feature 6 activity categories with over 150 programs. Key highlights include:
- Lanna Gastronomy Tourism Economy Exhibition: A sustainable culinary tourism showcase exploring Lanna cuisine while creating income opportunities for local communities.
- Ready Set Old Exhibition: Reimagining Chiang Mai becoming the world’s 7th “Blue Zone” city for healthy aging, following in the footsteps of Okinawa (Japan), Sardinia (Italy), Nicoya (Costa Rica), Ikaria (Greece), Loma Linda (USA), and Singapore.
- Super Slow Exhibition: Immerse yourself in the beauty of slowness through innovative art that promotes sustainable and mindful living in a fast-paced world.
- Floral Wonders Exhibition: Showcase the potential of the local floral industry by merging creativity with technology, driving economic growth and job creation.
- LABB.Fest 2024: Enjoy live music performances blending Thai and international artists. This platform facilitates creative exchanges between artists, music entrepreneurs, and promoters from Thailand, Malaysia, Myanmar, Hong Kong, Taiwan, Japan, and South Korea.
The Next Chapter for “Chiang Mai Design Week”: Towards Sustainable Global Recognition
The future vision for Chiang Mai Design Week is to elevate its global prominence by fostering collaboration among designers, artists, entrepreneurs, and local and international networks. The festival aims to maintain high standards while adapting to urban trends and contexts to craft remarkable experiences for attendees and tourists. At the same time, it seeks to sustain interest among investors and sponsors for continued support.
“Chiang Mai Design Week is evolving towards a new standard that prioritizes not just aesthetics but the integration of creativity and environmental responsibility. This approach sets a benchmark for other creative festivals in Thailand, as seen in Chiang Rai and Phitsanulok, which have leveraged knowledge gained from the festival with support from CEA Chiang Mai. Looking ahead, the festival will shift its focus from audience quantity to quality, targeting visitors who actively engage and carry forward ideas inspired by the event,” explained Ms. Imhathai.
The ultimate goal is to establish Chiang Mai Design Week as a globally renowned festival that grows alongside the city’s holistic development. As a member of the World Design Week network, the festival reflects a decade of progress and potential. To secure a lasting global presence, the festival must uphold international standards, strengthen networks, and expand global outreach. Achieving this vision would position Chiang Mai Design Week as a cultural hallmark, akin to Milan Design Week, capable of attracting 100% investor interest.
Experience the transformative power of design at Chiang Mai Design Week 2024 (CMDW2024) under the theme “SCALING LOCAL” from December 7-15, 2024, across Chiang Mai’s old city areas, including the Three Kings Monument, Chang Moi, TCDC Chiang Mai, Thapae, and nearby districts like Hang Dong and San Kamphaeng.
Stay updated with the latest news and activities at: Website: www.chiangmaidesignweek.com Facebook: Chiang Mai Design Week, Instagram: ChiangMaiDesignWeek
Hashtag: #chiangmaidesignweek #CMDW2024 #scalinglocal
The issuer is solely responsible for the content of this announcement.
About Chiang Mai Design Week
Chiang Mai Design Week is an annual design festival hosted in Chiang Mai by the Creative Economy Agency (CEA), celebrating its 10th year (2015–2024). The festival serves as a dynamic platform for exchanging perspectives, experiences, and knowledge in design and creativity. It also fosters engagement through design, offering meaningful experiences to children, youth, communities, tourists, and enthusiasts alike. The festival features diverse activities, including exhibitions, talks, workshops, arts programs, and live performances, aimed at enhancing quality of life while infusing Chiang Mai with a vibrant, creative atmosphere. Events span iconic areas like Klang Wiang, rich in culture and local traditions, and Chang Moi–Tha Phae, home to TCDC Chiang Mai, a modern hub of design knowledge. In addition to these key districts, Chiang Mai Design Week also hosts programs in other significant areas throughout the city, offering visitors a fresh perspective on Chiang Mai and the chance to experience its unique creative spirit up close.
About Creative Economy Agency (Public Organization)
The Creative Economy Agency (Public Organization) or CEA was established on August 14, 2018, as an organization under the supervision of the Prime Minister’s Office to promote and develop the potential of the creative economy as a driving force towards a balanced and sustainable economy in the long term. One of CEA’s key missions is to establish creative economy districts by promoting and developing areas that foster a creative environment and encourage the growth of new businesses as well as aims to strengthen connections with surrounding communities. Additionally, CEA is responsible for promoting the growth of the creative industries by developing capabilities and linking networks, utilizing creativity as a tool to enhance businesses and improve the quality of life for the Thai people.
Media OutReach
Results of the IX Digital Asset Industry Classification System (“DAICS®”) 2H 2025 Review
- DAICS® coin coverage: As of 3rd December, the top 50 coins by average market capitalization across the past 90 days
- DAICS® market capitalization coverage: 96.98%*
- The % coverage of market capitalization of the 50th ranked coin: 0.048%**
- Member changes within the Top 50 Coins in DAICS®: eight coins added and nine coins deleted
- Additions: Zcash (ZEC), World Liberty Financial USD (WUSD), PayPalUSD (PYUSD), Memecore (M), Worldcoin (WLD), Story (IP), Arbitrum (ARB), KuCoin (KCS)
- Deletions: Mantra (OM), GateToken (GT), Official Trump (TRUMP), VeChain (VET), Render (RENDER), First Digital USD (FDUSD), Filecoin (FIL), Cosmos (ATOM), Algorand (ALGO)
- 9 Green Coins labelled: Cronos (CRO), Pi (PI), Internet Computer (ICP), Hedera, Sui (SUI), Toncoin (TON), Arbitrum (ARB), Mantle (MNT), Tron (TRX)
Note:
*Special currency treatment of DAICS® applies, where any wrapped or second-level cryptocurrency is not considered in the calculation for the market capitalization of DAICS®
**Based on 3rd December 2025
G: Green Coin
The rankings of additions and deletions for the DAICS® top 50 cryptocurrencies are listed in Appendix 1. All classification changes, including the ixCrypto Infrastructure Index and ixCrypto Stablecoin index, will take effect on 23rd January 2026, with market capitalization, rankings, and weightings available at www.ix-index.com.
1. Cryptocurrencies
1.1. Structure and Definitions
Tier 1: Industry Changes
The industry groups remain unchanged, with 5 industries and the respective weightings as follows:
| Industry | Weighting (%) |
| Payment (110) | 73.87% |
| Infrastructure (120) | 19.89% |
| Financial Services (130) | 4.82% |
| Tech & Data (140) | 0.22% |
| Media & Entertainment (150) | 1.20% |
Tier 2: Sector Changes
The number of sectors has increased from 17 to 18. There is one new sector added under the industry group “Tech & Data (140)”:
Identification (14040)
Definition: Cryptocurrencies that facilitate decentralized identity authentication and/or blockchain-based validation of digital intellectual property rights. The classification emphasizes trust, data consent, and privacy as core architectural features while the crypto by itself is not an identity token.
1.2. Reclassification Changes
This review doesn’t have any reclassification of the existing coins. The DAICS® 2H 2025 cryptocurrencies classification is available in Appendix 2.
1.3. Green Coin Label
This review identifies 9 Green Coins, classified based on their energy-per-unit-transaction, which is defined as the amount of energy consumed for a successful single unit transaction of the coin in the blockchain network. The coins selected rank in the top 20 percentile of the least energy-consuming cryptocurrencies out of the 50 DAICS® constituents. The top 20 percentile’s threshold in this review is ≤ 0.150 Wh. The table below lists these low-energy coins.
| Industry | Low Energy-per-transaction (≤ 0.150 Wh) | |
| Payment (110) | CROG PIG |
|
| Infrastructure (120) | ICPG SUIG ARBG TRXG |
HBARG TONG MNTG |
| Financial Services (130) | NIL | |
| Tech & Data (140) | NIL | |
| Media & Entertainment (150) | NIL | |
Note: G as ‘Green Coin‘ labelling for cryptocurrencies that adhere to the principles of sustainability
2. Asset Backed Tokens (ABT)
2.1. Structure and Definitions
Tier 1: Asset Type Changes
The asset types remain unchanged at 6 as follows:
1) Culture (205),
2) Real Estate (215),
3) Financials (235),
4) Entertainment (255),
5) Natural Resources (265), and
6) Green Economy (275)
Tier 2: Branch Changes
The number of branches has increased from 31 to 32, with a new branch added under Financials (235): Tokenized funds (23540).
2.2. Classification Changes
This review doesn’t have any reclassification of the existing assets.
2.3. Coverage of DAICS®
A classification summary and definition table of both cryptocurrencies and ABTs are available in Appendices 3 and 4. For further information regarding the methodology of the DAICS®, please refer to the “IX Digital Asset Industry Classification System”- principle and guiding methodology on the company website https://ix-index.com/daics.html.
For more details on DAICS® qualification criteria, please email [email protected].
Appendix 1
Additions
| Current Rank | Cryptocurrencies |
| 28 | Zcash (ZEC) |
| 31 | World Liberty Financial USD (WUSD) |
| 41 | PayPal USD (PYUSD) |
| 45 | MemeCore (M) |
| 46 | Worldcoin (WLD) |
| 49 | Story (IP) |
| 50 | Arbitrum (ARBG) |
| 51 | KuCoin (KCS) |
| Prev. Rank | Cryptocurrencies | Current Rank |
| 34 | Mantra (OM) | 300+ |
| 41 | GateToken (GT) | 67 |
| 43 | OFFICIAL TRUMP | 56 |
| 45 | VeChain (VET) | 55 |
| 46 | Render (RNDR) | 58 |
| 47 | First Digital USD (FDUSDG) | 71 |
| 48 | Filecoin (FIL) | 61 |
| 50 | Cosmos (ATOM) | 54 |
| 51 | Algorand (ALGO) | 52 |
G: Green Coin
Appendix 2
| Category
|
Industry | Sector | Cryptocurrencies | |
| Cryptocurrencies (1) | Payment:
Blockchain based money, designed for transactional purposes. This includes daily transactions usage and stablecoins. |
Transaction & Payment | BTC XRP BCH XLM LTC |
XMR CROG ZEC PIG KAS |
| Stablecoin | USDT USDC USDe |
DAI WUSD PYUSD |
||
| Infrastructure:
Bedrock blockchain that facilitates the operation of other decentralised applications. This includes the creation and running of dedicated blockchain platforms, achieving interoperability between networks, increasing the amount or speed of transactions etc |
Application Development Protocol & Smart Contract | ETH SOL TRXG ADA HYPE SUIG AVAX |
HBARG TONG NEAR ETC APT ICPG |
|
| Interoperability | LINK DOT |
ATOM | ||
| Scaling & Sharding | MNTG ARBG |
POL | ||
| Supporting System | NIL | |||
| Financial services:
Tokens that provide on-chain asset management services, crypto-exchange services, funding, lending and other capital markets related services |
Exchange Tokens | BNB LEO BGB |
UNI OKB KCS |
|
| Lending & Borrowing | AAVE | |||
| Staking | ENA | |||
| Financial Asset Tokenization | ONDO | |||
| Tech & Data:
Provision of data management and storage, and development of innovative crypto technology |
Storage & Sharing | NIL | ||
| Data Management | NIL | |||
| Artificial Intelligence | TAO | |||
| Identification (NEW) |
WLD | IP | ||
| Media & Entertainment:
Recreational and media services. Including content creation and distribution, advertising through crypto-asset incentive mechanisms, gaming and collectibles |
Social Media & Community | DOGE SHIB |
PEPE M |
|
| Streaming | NIL | |||
| Gaming | NIL | |||
| Metaverse | NIL | |||
Note:
G as ‘Green Coin‘ for cryptocurrencies that adhere to the principles of sustainability
NEW for newly added sector
Appendix 3
| Category | Industry | Sector | Sector definition |
| Cryptocurrencies (1) | Payment: (110)
Definition |
Transaction & Payment (11010) |
Cryptocurrencies that are used for store of value, unit of account, medium of exchange |
| Stablecoin (11020) |
Cryptocurrencies where price is pegged to a / a basket of, reference asset | ||
| Infrastructure: (120)
Definition |
Application Development Protocol & Smart Contract (12010) |
layer-1 blockchain network that facilitates DApp creation and smart contract execution and smart contract | |
| Interoperability (12020) |
Network that increases inter-connectivity and integration of the fragmented cryptocurrency ecosystem | ||
| Scaling & Sharding (12030) |
Networks that increase the ability to cope with the influx of many transactions at a time and blockchain network that can be split into smaller partitions, to improve scalability and process transactions quicker | ||
| Supporting System (12040) |
Networks/sidechains that improve functionality of layer-1 network | ||
| Financial services: (130)
Definition |
Exchange Tokens (13010) |
Cryptocurrencies that represent the stable coin in the exchange ecosystem and allow users to covert from digital asset on decentralised or centralised system int fiat currencies | |
| Lending & Borrowing (13020) |
Borrowing and lending crypto assets with interest in return and other secondary financial tools derived from primary underlying asset, such as crypto futures and options | ||
| Staking (13030) |
Holding and “staking” of certain amount of cryptocurrency in a wallet to facilitate network operations | ||
| Financial Asset Tokenization (13040)
|
Cryptocurrencies/protocols that focus on the tokenized issuance and management of financial assets | ||
| Tech & Data: (140)
Definition |
Storage & Sharing (14010) |
Crypto protocols that provide decentralized storage and/or sharing of data filing and resources. | |
| Data Management (14020) |
Networks/Protocols that facilitate the indexing and querying of data from blockchain(s), enabling efficient data retrieval and management for decentralized applications | ||
| Artificial Intelligence (14030) |
Cryptos/Protocols that facilitate the use of AI powered apps or projects directly using blockchain platform. | ||
| Identification (14040) (NEW) |
Cryptocurrencies that facilitate decentralized identity authentication and/or blockchain-based validation of digital intellectual property rights. The classification emphasizes trust, data consent, and privacy as core architectural features while the crypto by itself is not an identity token. | ||
| Media & Entertainment: (150)
Definition |
Social Media & Community (15010) |
Cryptos that provides mast social community and followers without a close secondary industry sector | |
| Streaming (15020) |
Cryptos that provides rights to access decentralised video-streaming sites | ||
| Gaming (15030) |
Cryptos which mainly used in gaming or gaming supporting industry | ||
| Metaverse (15040) |
Cryptos that is commonly used in collective virtual open space, created by the convergence of virtually enhanced physical and digital reality. This includes the use of VR and/or AR and/or 3D. |
Note: NEW for newly added sector
Appendix 4
| Category
|
Asset Type | Branch | Sub -branch |
| Asset-Backed Tokens (2) | Culture: (205)
Definition |
Art (20510) |
This shall be further developed in the future with more digital assets available in the market |
| Sports (20520) |
|||
| Festive Collectibles (20530) |
|||
| Design IPs (20540) |
|||
| Drama and Play IPs (20550) |
|||
| Real Estate:(215)
Definition |
Commercial Property (21510) |
||
| Residential Property (21520) |
|||
| Governmental Property (21530) |
|||
| Residential and Commercial Land (21540) |
|||
| Financials: (235)
Definition |
Tokenised Securities (Company Securities, ETF) (23510) |
||
| Tokenised Debts (23520) |
|||
| Tokenised REITs (23530) |
|||
| Tokenised Funds(NEW) (23540) |
|||
| Entertainment: (255)
Definition |
Movies (25510) |
This shall be further developed in the future with more digital assets available in the market |
|
| Songs (25520) |
|||
| Concerts (25530) |
|||
| Gaming (25540) |
|||
| All Other Entertainment Events and Collectibles (25550) |
|||
| Natural Resources: (265)
Definition |
Precious Metals (26510) |
||
| Agricultural (26520) |
|||
| Energy (26530) |
|||
| Metals (26540) |
|||
| Green Economy (275)
Definition |
No Poverty & Zero Hunger (27510) |
Following definition of the United Nations |
|
| Good Health and Well-Being (27520) |
|||
| Quality Education (27530) |
|||
| Gender Equality (27540) |
|||
| Clean Water and Sanitation/Affordable and Clean Energy (27550) |
|||
| Decent Work and Economic Growth/ Industry, Innovation, and Infrastructure/ Partnerships for the Goals (27560) |
|||
| Reduced inequalities/ Peace, Justice and Strong Institutions (27570) |
|||
| Sustainable Cities and Communities/Responsible Consumption and Production (27580) |
|||
| Climate Action (27590) |
|||
| Life Below Water & Life on Land (27500) |
Note: NEW for newly added branch
² United Nations 17 sustainable development goals covering 1) No Poverty 2) Zero Hunger 3) Good Health and Well-Being 4) Quality Education 5) Gender Equality 6) Clean Water and Sanitation 7) Affordable And Clean Energy 8) Decent Work and Economic Growth 9) Industry, Innovation and Infrastructure 10) Reduced inequalities 11) Sustainable Cities and Communities 12) Responsible Consumption and Production 13) Climate Action 14) Life Below Water 15) Life on Land 16) Peace, Justice and Strong Institutions and 17) Partnerships for the Goals https://sdgs.un.org/goals
The issuer is solely responsible for the content of this announcement.
About DAICS®
DAICS® covers both cryptocurrencies and asset-backed tokens (“ABTs”), to be reviewed semi-annually at the end of June and December. On the cryptocurrency side, it is a three-tier system that groups cryptocurrencies into 5 main industries: 1) Payment, 2) Infrastructure, 3) Financial services, 4) Technology & Data, and 5) Media & Entertainment. These industries are further divided into sectors and sub-sectors to be introduced in the future. Under asset-backed tokens, there are 6 asset types: 1) Culture, 2) Real Estate, 3) Financials, 4) Entertainment, 5) Natural Resources, 6) Green Economy. These asset types are further divided into branches and sub-branches to be introduced in the future.
About the IX Asia Tokenization Advisory Committee and Working Group
The establishment of the IX Asia Tokenization Advisory Committee (“Advisory Committee”) is to pursue the goal and vision of formulating a standard for a global tokenization framework in a compliant and transparent way. The key role of the Advisory Committee is to formulate the guidelines and references for tokenization in terms of infrastructure, business, financial stability, sustainability, internal control, and classification. The Advisory Committee is comprised of industry-recognised leaders from blockchain consultancy, sustainable projects, and the field of the Art industry.
The establishment of the Working Group is to identify, evaluate and recommend key directions and founding principles according to their specific industry knowledge and expertise in relating to the creation of the specified token. It will examine and propose improvements to the guidelines and references for tokenization. The working group is formed of a diverse group of market experts representing relevant sectors and markets, to provide input and discuss case studies for creation of tokenization framework, best practices and development of real-world projects.
For more information about IX Asia Tokenization Advisory Committee & Working Group, please visit https://ix-index.com/tokenization-committee.html.
Media OutReach
Hong Kong Chinese Women’s Club College Wins Gold Award at the 2025 Hang Lung Mathematics Awards
Hang Lung’s Vision for Academic Excellence Drives Hong Kong’s Global Competitiveness
HONG KONG SAR & SHANGHAI, CHINA – Media OutReach Newswire – 17 December 2025 – The winners of the 2025 Hang Lung Mathematics Awards (“HLMA”), co-organized by Hang Lung Properties Limited (SEHK Stock Code: 00101) (“Hang Lung” or the “Company”) and the Hong Kong University of Science and Technology (“HKUST”), have been announced. Siu Man Li from the Hong Kong Chinese Women’s Club College received the Gold Award for his research report titled “Markov Chains Associated with Ultraspherical Polynomials: An Analysis of Weak Convergence and First Passage Time Functionals”.
The Silver Award and the Bronze Award were won by Augus Kui Lam Huang, Inna Belle Lee, Chun Lam Lo, Lok Hei Qiao, and Cheuk Lok Wong from St. Paul’s Co-educational College, and Edison Sze Ho Fu, Yun Tung Ko, Hoi Chun Puk, and Wai Kwan Yeung from Queen’s College, respectively. All winning teams demonstrated exceptional problem-solving abilities, creativity, and academic rigor evident in their work on challenging mathematical topics.
The awards were presented at tonight’s ceremony, celebrating the remarkable achievements of the student finalists and reaffirming HLMA’s sustained contribution to advancing STEM education in Hong Kong. In her opening remarks, Dr. Choi Yuk-lin, JP, Secretary for Education of the Hong Kong Special Administrative Region, said, “The Hang Lung Mathematics Awards not only honours mathematical endeavours, but also reflects its enduring commitment to inspiring a continued passion for mathematics among our students and nurturing Hong Kong’s young talents. This aligns well with the promotion of self-directed learning, problem solving and creativity in Hong Kong’s school education. I hope all of us in the society can join hands in the promotion of digital education and mathematical modelling for the benefit of our students.”
Mr. Adriel Chan, Chair of Hang Lung Properties, also addressed the audience, stating, “As we celebrate the winners of the Hang Lung Mathematics Awards, we are reminded that talent development is a long-term investment. HLMA embodies our commitment to nurturing the next generation of thinkers and leaders who will navigate an increasingly complex world. We are heartened by the strong support from students, schools, and the academic community, which reinforces our shared mission to advance mathematics education and push the boundaries of excellence. Together, we are empowering young minds to pursue their passion and unlock their potential in mathematics, science, and technology.”
Professor Nancy Ip, President of HKUST, said, “HKUST is pleased to continue our partnership with Hang Lung in this biennial competition. Hang Lung Mathematics Awards is more than an academic contest; it is a platform that challenges students to push the boundaries of their knowledge and apply rigorous methodology to original research. By cultivating a community of aspiring mathematicians and providing them with access to world-class training, we are advancing our shared vision of transforming Hong Kong into a global hub for innovation and technology.”
During the ceremony, a lively Panel Discussion was held on the theme of “Ubiquity of Mathematics: the Language of Discovery.” The discussion featured Professor Richard Schoen, 2017 Wolf Prize Laureate in Mathematics and Chair of the 2025 HLMA Scientific Committee, and Professor Ngaiming Mok, 2022 Future Science Prize Laureate, Chair of the HLMA Steering Committee and member of the Scientific Committee. Moderated by Ms. Jennifer Zhu Scott, Co-founder and Chief Executive Officer of Power Dynamics, the distinguished speakers shared their insights on the evolving landscape of mathematics education and the essential skills required for the next generation to thrive in a technology-driven era.
The 2025 Hang Lung Mathematics Awards attracted the participation of close to 100 teams from over 50 secondary schools in Hong Kong. Under the guidance of a supervising teacher, each team decided on a mathematics topic, designed and conducted research, and compiled their findings into a research report. This impactful initiative is pivotal in the cultivation of future mathematical and scientific minds.
Appendix
Founded in 2004, the Hang Lung Mathematics Awards is a biennial competition that inspires secondary school students to formulate their own research journey and realize their creative potential in mathematics. Throughout its illustrious history, 2,800 students from over 200 schools have participated, submitting more than 500 research reports. Hang Lung donates HK$2.5 million for each competition—HK$1 million is allocated as prize money with the remainder supporting HKUST in providing vital initiatives including academic consultation, assessment, administration, and educational outreach activities. HKUST also offers scholarships for teachers nominated by the winning schools to further their studies through the Master of Science Program in Mathematics for Educators.
Over the past two decades, the HLMA has made a profound impact on cultivating young mathematical talent, with many past winners having gone on to graduate from top universities worldwide and now contributing significantly to society through work in academia and professional fields. HLMA plays an important role in recognizing and fostering a lasting love of mathematical inquiry that extends far beyond secondary school.
This year, the Hang Lung Mathematics Awards drew participation from nearly 100 teams across over 50 secondary schools in Hong Kong. A total of 15 teams were shortlisted for the Oral Defense stage, where a Scientific Committee comprising internationally renowned scholars and educators evaluated the research reports through a rigorous, multi-step review process. The teams were invited to present and defend their findings before the Scientific Committee in a formal setting, an experience that closely resembles the oral defense process required for a postgraduate degree.
For a detailed list of winners of the 2025 Hang Lung Mathematics Awards, please refer to the attachment.
Attachment
List of Winners of the 2025 Hang Lung Mathematics Awards
|
Award
|
Research Title
|
Team Member(s)
|
Teacher
|
School Name
|
|
|
Gold
|
Markov Chains Associated with Ultraspherical Polynomials:
an Analysis of Weak Convergence and First Passage Time Functionals |
Siu Man Li
|
Mr. On Ping Chung
|
Hong Kong Chinese Women’s Club College
|
|
|
Silver
|
Incentric Subdivisions of Triangles and Iterated Function Systems
|
Augus Kui Lam Huang
Inna Belle Lee
Chun Lam Lo Lok Hei Qiao Cheuk Lok Wong |
Mr. Pak Leong Cheung
|
St. Paul’s Co-educational College
|
|
|
Bronze
|
On the Generalisations of the No-Three-in-Line Problem
|
Edison Sze Ho Fu
Yun Tung Ko Hoi Chun Puk Wai Kwan Yeung |
Mr. Hang Chun Chan
|
Queen’s College
|
|
|
Honorable Mentions (listed by school name in alphabetical order)
|
|||||
|
Research Title
|
Team Member(s)
|
Teacher
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On the Number of Multiplicative Type En Friezes
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Lok Him Chan
David Kai Hei Gu Sui Ping Tang Ho Wong |
Mr. Yuk Lun Fong
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HKUGA College
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What Can You Split and Draw?
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Triton Cheuk Lok Kho
Eron Ching Long Kwok Man Hei Tung |
Mr. Yuk Lun Fong
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HKUGA College
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The Mathematics of Riffle Shuffling from Single to Multi-Deck Card Games
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Daniel Haifeng Wang
Justin Haisong Wang |
Ms. Alexandra Streeter
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King George V School
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On the Images of Rational Numbers under a Certain Type of Fractal Interpolation Function
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Tsz Hei Chiu
Alex Sheung Fai Lam Hin Chun Lee Jamie Chun Hin Ng Ka Lam Tang |
Dr. Wai Shan Cheung
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St. Joseph’s College
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Producing Annoying Sounds with Chalk by Varying Angle of Contact
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Joshua Cheung
Haoyang Dong Jizheng Li Ming Ze Li Maximilian Ng |
Mr. David Bian
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Victoria Shanghai Academy
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Hashtag: #HangLungProperties
The issuer is solely responsible for the content of this announcement.
About Hang Lung Properties
Hang Lung Properties Limited (SEHK stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the “66” brand, the company’s Mainland portfolio has established its leading position as the “Pulse of the City”. Hang Lung Properties is also recognized for leading the way in enhancing sustainability initiatives in the real estate industry, all the while pursuing sustainable growth by connecting customers and communities.
At Hang Lung Properties – We Do It Well.
For more information, please visit 
www.hanglung.com.
About The Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) is a world-class university known for its innovative education, research excellence, and impactful knowledge transfer. With a holistic and interdisciplinary pedagogy approach, HKUST was ranked 6th in the QS Asia University Rankings 2026, 3rd in the Times Higher Education’s Young University Rankings 2024, and 19th globally and 1st in Hong Kong in the Times Higher Education’s Impact Rankings 2025. Thirteen HKUST subjects were ranked among the world’s top 50 in the QS World University Rankings by Subject 2025, with “Data Science and Artificial Intelligence” coming in 17th worldwide and first in Hong Kong. Our graduates are highly competitive, consistently ranking among the world’s top 30 most sought-after employees. In terms of research and entrepreneurship, over 80% of our work was rated “internationally excellent” or “world leading” in the Research Assessment Exercise 2020 of the Hong Kong’s University Grants Committee. As of July 2025, HKUST members have founded over 1,900 active start-ups, including 10 Unicorns and 17 exits (IPO or M&A).
Media OutReach
Lever Style Announces Seventh Acquisition Since IPO, Continuing Group Expansion in the Global Apparel Supply Chain Sector
Active Apparel Group Strengthens Lever Style’s Activewear Capabilities
HONG KONG SAR – Media OutReach Newswire – 17 December 2025 – Lever Style Corporation (HKEX: 1346, “Lever Style”), has acquired designated assets from Active Apparel Group (“AAG”) through an asset purchase agreement. This marks Lever Style’s seventh acquisition since its initial public offering in 2019. This transaction strengthens Lever Style’s activewear expertise.
Active Apparel Group is a well-established apparel specialist with 38 years of experience serving premium global brands, and deep expertise across activewear, outerwear, and swimwear. AAG’s activewear segment is the fastest growing one in the apparel industry, and it complements Lever Style’s existing strength in the fashion segment. AAG’s product sophistication and customer tier are also on par with Lever Style’s premium positioning, enabling cross-selling opportunities in other product categories and enhancing operating leverage.
Lever Style already has a strong foundation in activewear and performance apparel, serving leading global brands such as Arc’teryx, Columbia Sportswear, Helly Hansen, Spanx, Skims, and J.Lindeberg. The Group also works with a broad portfolio of premium and contemporary brands including Alexander Wang, Theory, Todd Snyder, and others, as well as digitally native brands such as Bonobos and Ministry of Supply.
Active Apparel Group is a production partner for leading technical and lifestyle apparel brands, including Greyson, Johnnie-O, Sun Day Red, Boggi, and Bandit Running.
With the US market rocked by tariffs and Europe still mired in war, 2025 has become a challenging year for the apparel industry. Given the increasing risk of a tariff-induced US recession in 2026, the Group has put more focus on pursuing inorganic growth.
“Bad times are the best times to buy” said Stanley Szeto, Executive Chairman of Lever Style. “This acquisition strengthens our activewear expertise and enables us to deliver greater value to our clients across an even broader range of product categories.”
For more details, please visit: https://www1.hkexnews.hk/listedco/listconews/sehk/2025/1217/2025121701296.pdf
Hashtag: #LeverStyle
https://www.leverstyle.com/en/home/
www.leverstyle.com
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