Media OutReach
KPMG China launches its ‘Our Impact Plan’ ESG report, marking five years of in-depth implementation
How can enterprises anchor ESG values to drive sustainable economic and social transformation? On 23 August, this question was explored at the launch of KPMG China’s ‘Our Impact Plan’ report, which was held outdoors for the first time on a lawn in the Futian District, Shenzhen. The event featured keynote speeches, roundtable discussions, and presentations of results, reflecting on KPMG China’s achievements in the ESG field over the past five years. It also brought together government, social organisations, enterprises, and partners to focus on ESG trends and discuss new paths for sustainable development.
KPMG China continues to deepen its commitment to sustainable development
Honson To, Chairman of KPMG Asia Pacific and China, said, “This year marks the 20th anniversary of the introduction of the ‘lucid waters and lush mountains are invaluable assets’ concept and the fifth anniversary of the ‘Our Impact Plan’. Hosting this event in the embrace of nature is highly significant. Looking back at our ESG reports over the past five years, we can see a clear reflection of how our environmental, social, and governance efforts have aligned with the country’s development. This publication not only summarises our steadfast commitments and investments in ESG but also reflects our determination to deepen ESG practices and empower clients and society in order to propel sustainable development.”
Climate change is one of the core drivers of future economic development. Jacky Zou, Chairman-elect of KPMG China, said, “At the national level, the ‘dual carbon goals’ are driving new economic momentum and reshaping the country’s economic development landscape and ecosystems. For enterprises, a high-standard ESG management system is essential for achieving sustainable development and seizing economic transformation opportunities. KPMG China has released the ‘Our Impact Plan’ report for five consecutive years, aiming to set an example and accumulate more cases of ESG information disclosure that align with corporate needs, with a view to promoting the widespread implementation of ESG principles.”
Strategic ESG actions, especially after the mandatory disclosure of future ESG reports, will deeply impact the business layout of companies. From the perspective of sustainable growth, enterprises need to develop a more comprehensive ESG action roadmap that focuses on the present while looking ahead to future milestones and promoting continuous action. Tracy Yang, Head of Corporate Affairs, KPMG China, emphasised, “As an organisation committed to sustainable development, KPMG China continuously explores feasible ESG solutions. We believe that true progress comes from aligning corporate responsibility and national vision through ESG strategies, creating lasting and profound impacts. Companies should not only focus on healthy growth but also leverage the development opportunities presented by national long-term goals to enhance leadership in sustainable business ecosystems.”
The ‘Our Impact Plan’ report released by KPMG China marks a first for the firm by moving the launch event outdoors to a lawn in the Futian District of Shenzhen in the Guangdong-Hong Kong-Macao Greater Bay Area, conveying our strong commitment to sustainable development and showcasing the beautiful vision of coexistence and shared prosperity between humanity and nature. It also highlights the significant progress and outstanding achievements KPMG China has made across four pillars: Governance, People, Planet, and Prosperity. Wilson Pang, Head of Our Impact Plan, KPMG China, stated, “These four pillars complement each other and form the backbone of KPMG China’s ESG ethos. Through its governance principles, KPMG China has established a comprehensive ESG governance framework; and the firm’s people-centred approach highlights its core values. Meanwhile, our efforts to care for the planet reflect our deep commitment to environmental sustainability; and achieving prosperity is at the heart of KPMG China’s ESG mission, pushing us to deliver impactful outcomes.”
Meeting quantified targets and co-constructing ecosystems
During the launch of the ‘Our Impact Plan’ report, KPMG China provided a professional overview, showcasing the highlights and flagship projects of the programme, along with a retrospective of the firm’s five-year journey and future outlook. Wilson Pang emphasised that this year marks a significant milestone for KPMG China in promoting the programme, marking the firm’s evolution from a mere participant to a leader and initiator, and from academic practice to emphasising sustainable development, technological innovation, and the development of new quality productive forces.
KPMG China has been recognised in the ‘2025 Typical Case in the Business Community to Conserve Biodiversity’ and the ‘2025 Corporate Green Transformation and ESG Practice Cases’, reflecting recognition of the firm’s efforts in biodiversity protection.
KPMG China continues to collaborate with the Mangrove Conservation Foundation (MCF) to initiate the ‘Green Bay Area Pioneer Action – Habitat Enhancement of Futian Mangrove Ecological Park’ project, which was launched in September 2024. We also partnered with multiple organisations to jointly launch the Guangdong-Hong Kong-Macao Greater Bay Area ESG Biodiversity Corporate Recognition Award, with the goal of encouraging corporate participation in ecological protection. At the release of this year’s ‘Our Impact Plan’, KPMG China officially launched the China Biodiversity Recognition Award to promote the integration of environmental and ecological protection with technological innovation at both the national and regional levels.
KPMG China has purchased 100% renewable electricity for four consecutive years, and KAMPUS (KPMG China’s Hongqiao office) has received LEED Platinum certification. Additionally, 90% of our office floor area is located in buildings with green and/or wellness-related certifications.
We rolled out the new ‘Protect the Future – Action for the Planet’ (‘Protect the Future’) volunteer programme to encourage more employees to engage in volunteer service.
Upholding one of KPMG’s values, ‘For Better – We do what matters,’ we continuously invest in our communities. During the year, over 1,500 KPMG volunteers have participated in various corporate social responsibility activities organised by the firm, contributing over 15,800 total volunteer hours and reaching over 98,000 beneficiaries directly.
KPMG China is also leveraging AI applications to provide comprehensive deployment and application solutions to enterprises.
This year’s event also marks the first time we are launching the report outdoors, demonstrating KPMG China’s commitment to promoting sustainable business structures and protecting natural ecosystems.
From the perspective of ecological co-construction, guests engaged in deep discussions during the roundtable forum on the day of the launch discussing the theme ‘Harnessing the Power of Society to Build a New Paradigm for Biodiversity Protection’. The event also focused on the collaborative achievements of the ‘Our Impact Plan’, and the Guangdong-Hong Kong-Macao Greater Bay Area ESG Biodiversity Corporate Recognition Award.
Wilson Pang said, “As the global economy becomes increasingly interconnected and the impact of climate change deepens, China is actively advancing the green transformation in areas such as green energy, carbon emissions management, and the green transition of traditional enterprises, achieving significant results in various areas. As a professional services firm, KPMG China closely follows national strategic plans and continuously strengthens collaboration with various stakeholders. Over the past five years, the firm has evolved from initially exploring carbon accounting and supply chain reviews to our current stage, in which we are establishing a comprehensive ESG service system covering all business areas, transitioning from a ‘reporter’ and ‘participant’ role to a ‘promoter’ and now to a ‘leader’.”
The true value of ESG lies in harnessing professional skills to transform sustainable concepts into daily practices for enterprises. The ‘Our Impact Plan’ report is not only KPMG China’s annual ESG report but also a commitment to forward-looking action. In light of the firm’s journey towards net-zero by 2030, KPMG China is actively exploring management methods for carbon reduction and low-carbon practices, and we are striving to provide better insights and practical results for more market participants.
Hashtag: #KPMG #KPMGChina
The issuer is solely responsible for the content of this announcement.
About KPMG
KPMG in China has offices located in 31 cities with over 14, 000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. It started operations in Hong Kong in 1945. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. In 2012, KPMG became the first among the “Big Four” in the Chinese Mainland to convert from a joint venture to a special general partnership.
KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.
KPMG firms operate in 142 countries and territories with more than 275,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.
Celebrating 80 years in Hong Kong
In 2025, KPMG marks “80 Years of Trust” in Hong Kong. Established in 1945, we were the first international accounting firm to set up operations in the city. Over the past eight decades, we’ve woven ourselves into the fabric of Hong Kong, working closely with the government, regulators, and the business community to help establish Hong Kong as one of the world’s leading business and financial centres. This close collaboration has enabled us to build lasting trust with our clients and the local community – a core value celebrated in our anniversary theme: “80 Years of Trust”.
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
https://www.leverstyle.com/en/home/
www.leverstyle.com
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