Media OutReach
HKDPB announces key findings of “Hongkongers’ Sense of Security in Savings” Survey for eighth consecutive year
Hongkongers’ average monthly savings rise to a record HK$10,100, while parents with a habit of saving aim to set aside an average of HK$2.26 million per child to feel sufficiently secure
HONG KONG SAR – Media OutReach Newswire – 17 December 2025 – The Hong Kong Deposit Protection Board (HKDPB) has conducted its “Hongkongers’ Sense of Security in Savings” survey for the eighth consecutive year. According to the survey results of this year, the average monthly savings of Hongkongers have topped HK$10,000 for the first time, reaching HK$10,100, marking a 3% growth from last year and a new record since the survey began. More than 67% of respondents said that they had a habit of saving, similar to last year, while 75% put their money in savings accounts or time deposits with banks. The survey also reveals that more than 20% of respondents with a saving habit had set a yearly saving target of HK$279,000 on average. Another finding is that 89% of young respondents, aged 18 to 29, had a habit of saving, with 32% of them having set saving goals; both figures mark the highest rates across all age groups, showing that young people were particularly proactive about saving. Among respondents with a saving target, 54% were confident of meeting their goals. Nearly 40% of respondents who had a habit of saving said that their savings were intended to meet “unexpected needs” (37%), followed by “preparing for retirement” (31%).
In terms of Hongkongers’ “sense of security” as provided by their current savings, the score edged up to 54.3 marks from 53.5 last year, marking the highest in the past four years. About 76% of respondents rated their “sense of security” in savings at 50 marks or above, a slight increase of 2 percentage points from the previous year, while 16% rated it at 80 marks or above, similar to last year. The survey also shows that, to maintain their current living standards for one year, Hongkongers generally needed an average of HK$1.02 million in savings to gain a sufficient “sense of security”, close to last year’s HK$1.03 million.
Parents saving more actively with education as priority
An in-depth poll was conducted again this year, following a similar study in 2020, to analyse changes in saving habits among Hong Kong parents who had at least one child aged 10 or below. The results for this year reveal that nearly 80% of such parents had a habit of saving, about 3 percentage points higher than 2020. Each parent saved HK$12,100 on average a month, a significant increase of 40% from the HK$8,600 five years ago. Additionally, these parents perceived a need to maintain HK$1.16 million in savings on average to gain a sufficient “sense of security”, 14% higher than the HK$1.02 million recorded in the general public.
The survey also finds that 60% of parents were putting aside additional savings for their children. Their average target was an extra HK$2.26 million per child to gain a sufficient sense of security, in particular, for their educational expenses (77%), including “local studies” (66%) and “overseas studies” (27%). Their most common way of saving was through “opening bank accounts for children” (48%), followed by “purchasing savings insurance” (45%). More than 56% of parents said that they had encouraged their children to develop saving habits, primarily by “providing fixed pocket money to children” (29%) and “requesting children to save for their desired items” (22%).
Rising trends in Hongkongers’ savings awareness and parents’ early financial planning
Ms Connie Lau Yin-hing, SBS, JP, Chairman of the HKDPB, said, “We can see from the survey results that Hongkongers are keeping up a strong momentum in saving. Average monthly savings are at a new high; not only that, but more than 67% of the public consistently maintain saving habits. These findings show that savings is a vital source of ‘sense of security’. At the same time, a clearer trend has emerged among the public to adopt prudent and stable saving methods, such as bank deposits. Another finding is that 89% of young respondents, aged 18 to 29, have a habit of saving, with 32% of them having set saving goals; both figures mark the highest rates across all age groups, showing that young people are particularly proactive about saving. Additionally, the Deposit Protection Scheme (DPS) automatically provides up to HK$800,000 statutory protection for each depositor, helping everyone save with more confidence.”
Ms Lau further stated: “As the saying goes, ‘Raise a child for a hundred years, and worry for ninety-nine.’ This survey confirms that raising the next generation plays an important role in parents’ financial planning. For example, compared to five years ago, parents now are saving more actively, significantly increasing the amount they save. Coupled with their ‘sense of security’ savings needs, the overall amount is also higher than that of the general public. As for financial education for children, parents often play a key role. The survey also reflects that many parents are cultivating good savings habits in their children. We hope that through the HKDPB’s diverse public awareness campaigns and community education activities, the public will further recognise the importance of saving. At the same time, the DPS will continue to safeguard everyone’s bank deposits, providing robust deposit protection so that all can save with peace of mind.”
Other highlights of the survey results:
- Regular savers made up 89% of respondents aged 18 to 29, with 32% of them having set saving targets for the year; both statistics were the most among all age groups, indicating young people’s commitment to saving. They saved HK$10,900 on average per month, 8% higher than the general public and also scored 56.9 marks on their “sense of security” regarding savings, ranking second among all age groups.
- Respondents aged 30 to 39 topped the list of yearly saving targets by averaging HK$369,000, the highest among all age groups and also 32% more than the general public.
- Respondents aged 40 to 49 saved the most per month, averaging HK$11,900 per person, which was 18% higher than the general public, showing the strongest saving capacity across all age groups.
- Respondents aged 50 to 59 perceived savings of HK$1.33 million as being necessary for a sufficient “sense of security”, topping all age groups. It is believed that members of this age group are starting to prepare for retirement and thus need more savings for peace of mind.
Based on returns submitted by Scheme members of the DPS, i.e., licensed banks in Hong Kong, the aggregate amount of relevant bank deposits under DPS protection reached HK$3,492 billion in 2024. According to the statistics provided by Scheme members, more than 92% of depositors were fully covered by the DPS.
The HKDPB commissioned the Hong Kong Institute of Asia-Pacific Studies (HKIAPS) at the Chinese University of Hong Kong (CUHK) to conduct the “Hongkongers’ Sense of Security in Savings 2025” survey. From 1 September to 2 October 2025, the survey randomly selected and polled a total of 1,047 Hongkongers aged 18 or above by telephone, then carried out a more in-depth study on a total of 301 Hong Kong parents with at least one child aged 10 or below.
Hashtag: #HKDPB
The issuer is solely responsible for the content of this announcement.
About Hong Kong Deposit Protection Board
The Hong Kong Deposit Protection Board is a statutory body established under the Deposit Protection Scheme Ordinance to oversee the operations of the Deposit Protection Scheme. The objectives of the Scheme are to protect depositors and to help maintain the stability of Hong Kong’s banking system (
www.dps.org.hk).
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
|
School Name
|
||
|
On the Number of Multiplicative Type En Friezes
|
Lok Him Chan
David Kai Hei Gu Sui Ping Tang Ho Wong |
Mr. Yuk Lun Fong
|
HKUGA College
|
||
|
What Can You Split and Draw?
|
Triton Cheuk Lok Kho
Eron Ching Long Kwok Man Hei Tung |
Mr. Yuk Lun Fong
|
HKUGA College
|
||
|
The Mathematics of Riffle Shuffling from Single to Multi-Deck Card Games
|
Daniel Haifeng Wang
Justin Haisong Wang |
Ms. Alexandra Streeter
|
King George V School
|
||
|
On the Images of Rational Numbers under a Certain Type of Fractal Interpolation Function
|
Tsz Hei Chiu
Alex Sheung Fai Lam Hin Chun Lee Jamie Chun Hin Ng Ka Lam Tang |
Dr. Wai Shan Cheung
|
St. Joseph’s College
|
||
|
Producing Annoying Sounds with Chalk by Varying Angle of Contact
|
Joshua Cheung
Haoyang Dong Jizheng Li Ming Ze Li Maximilian Ng |
Mr. David Bian
|
Victoria Shanghai Academy
|
||
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
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