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Changemakers Program Gains Traction as Hang Lung Partners with Tenants in Vibrant Sustainability Community

Enhanced Changemakers Program and LVMH Group collaboration drive momentum for shared ESG commitment


HONG KONG SAR and SHANGHAI, CHINA – Media OutReach Newswire – 29 April 2025 – Hang Lung Properties Limited (SEHK stock code: 00101) (the “Company” or “Hang Lung”) is scaling up its collaborative efforts with tenants in reducing energy use and waste, advancing circularity, and improving community wellbeing.

Participants gathered at the Changemakers Tenant Sustainability Awards 2025 in Hong Kong, joining Hang Lung executives Mr. John Haffner, Deputy Director – Sustainability (third from the left in the front row), Miss Helen Lau, Deputy Director – Hong Kong Business Operation (fifth from the left in the front row) and guest speaker Prof. Loh (fourth from the left in the front row)
Participants gathered at the Changemakers Tenant Sustainability Awards 2025 in Hong Kong, joining Hang Lung executives Mr. John Haffner, Deputy Director – Sustainability (third from the left in the front row), Miss Helen Lau, Deputy Director – Hong Kong Business Operation (fifth from the left in the front row) and guest speaker Prof. Loh (fourth from the left in the front row)

Leading the industry shift towards shared responsibility for sustainability, Hang Lung fosters collaboration through its Changemakers: Tenant Partnerships on Sustainability Program (the “Changemakers Program”), which completed a successful pilot year in 2024. The program was inspired by the Company’s pioneering sustainability partnership with LVMH Moët Hennessy Louis Vuitton (“LVMH Group”), launched in 2022. To date, Hang Lung has collaborated with 49 tenants from various sectors – including office, retail, and hospitality – across 17 properties in Hong Kong and mainland China, totaling over 220,500 square meters of leased floor area or 11% of Hang Lung’s leasable floor area.

At the Changemakers Tenant Sustainability Award 2025 in Shanghai, participants interacted with Hang Lung executives including Mr. Derek Pang, Senior Director – Mainland Business Operation (seventh from the left in the second row), Mr. John Haffner, Deputy Director – Sustainability (seventh from the left in the top row) and guest speaker Mr. Linden (sixth from the left in the top row)
At the Changemakers Tenant Sustainability Award 2025 in Shanghai, participants interacted with Hang Lung executives including Mr. Derek Pang, Senior Director – Mainland Business Operation (seventh from the left in the second row), Mr. John Haffner, Deputy Director – Sustainability (seventh from the left in the top row) and guest speaker Mr. Linden (sixth from the left in the top row)

Building on insights from early adopters such as AEON Stores (Hong Kong) Co., Limited, Credit Agricole CIB (China) Limited, Decathlon Hong Kong, Longchamp, Qeelin, Siemens Ltd., China Shenyang Branch, Standard Chartered Bank (Hong Kong) Limited, and Tam Jai International Co. Limited, Hang Lung has enhanced the Changemakers Program for greater impact and engagement, including offering tenants access to a comprehensive energy and carbon management platform. This solution provides tenants with real-time energy consumption analytics across their leased spaces, delivering data-driven, actionable insights to enhance energy efficiency, support sustainability goals, and optimize operational performance. The Changemakers Program also continues to deliver best practice sharing and benchmarking with peers, capacity-building resources, and hands-on support from Hang Lung, including technical services and volunteering opportunities.

“Underpinning all our sustainability efforts is a belief in the power of collective action. Our tenants are essential partners in both business and sustainability, and Hang Lung is proud to join forces with them in pursuit of meaningful impacts for the environment and society,” Mr. Adriel Chan, Chair of Hang Lung Properties and Chair of the Sustainability Steering Committee, said. “Collaborating with tenants to reduce carbon is also one of our key actions on our pathway to net zero emissions by 2050.”

At the recent Changemakers Tenant Sustainability Awards 2025 held in Hong Kong, the community celebrated the accomplishments of tenants from the first year of the Changemakers Program, and invited leading tenants to share their innovative practices with others.

Professor Christine Loh, Chief Development Strategist, Institute for the Environment at The Hong Kong University of Science and Technology, said, “Hang Lung’s approach highlights the value of partnerships. We know what we need to do; we just need to keep working together and learning from one another.”

Professor Christine Loh, Chief Development Strategist, Institute for the Environment at The Hong Kong University of Science and Technology, championed partnership during a panel discussion with sustainability leaders at the Changemakers Tenant Sustainability Awards 2025 in Hong Kong
Professor Christine Loh, Chief Development Strategist, Institute for the Environment at The Hong Kong University of Science and Technology, championed partnership during a panel discussion with sustainability leaders at the Changemakers Tenant Sustainability Awards 2025 in Hong Kong

Speaking to Changemakers Program awardees at the Shanghai ceremony, Mr. Brian Linden, Co-founder of The Linden Center and author of Redefining Diplomacy: One Village at a Time, said, “To be truly effective, any sustainability initiative must go beyond the purely physical, and adopt a more holistic approach. This means incorporating social and cultural traditions to deepen the connection with and involvement from the local community. The Changemakers Program is also cultivating this approach – driving innovation through fostering collaboration and community.”

Mr. Brian Linden, Co-founder of The Linden Center, encouraged winning tenants at the Changemakers Tenant Sustainability Awards 2025 in Shanghai to embrace sustainable business models and thus achieve an ever-expanding positive impact
Mr. Brian Linden, Co-founder of The Linden Center, encouraged winning tenants at the Changemakers Tenant Sustainability Awards 2025 in Shanghai to embrace sustainable business models and thus achieve an ever-expanding positive impact

Whether tenants are just starting on their sustainability journey, or ready to lead, the Changemakers Program offers a path for collaboration, impact, and recognition. For more information, please email Sustainability@HangLung.com.

Note to Editors:

Tenants can opt to participate at either the Foundational or Advanced level of the Changemakers Program, joining a vibrant sustainability community that supports shared learning and measurable action. Hang Lung office, retail, and hospitality tenants already making an impact as early adopters under the Program include:

List of tenants and awards – Changemakers Tenant Sustainability Awards 2025

Hong Kong
Foundational Awards
AEON Lai Chi Kok Store – AquaMarine Gyu-Kaku Buffet – Grand Plaza
AEON STYLE Mong Kok – Gala Place TamJai SamGor Mixian – Kornhill Plaza
AEON STYLE Kornhill – Kornhill Plaza TamJai Yunnan Mixian – Amoy Plaza
Decathlon Hong Kong – Grand Plaza Standard Chartered Bank (Hong Kong) Limited – Standard Chartered Bank Building
Gyu-Kaku – Kornhill Plaza UPS Parcel Delivery Service Ltd. – 9 Wing Hong Street
Advanced Awards
Centre for Asian Philanthropy and Society Limited – Shui On Centre Mott 32 – Standard Chartered Bank Building
Cuisine Continental (HK) Ltd. – alfafa – Kornhill Plaza
Special Mention
Centre for Asian Philanthropy and Society Limited – Shui On Centre Kabushikigaisha Limited – Gyu-Kaku – Kornhill Plaza and Gyu-Kaku Buffet – Grand Plaza
Decathlon Hong Kong – Grand Plaza Mott 32 – Standard Chartered Bank Building
Mainland China
Foundational Awards
Credit Agricole CIB (China) Limited – Plaza 66, Shanghai Longchamp – Olympia 66, Dalian
KPMG China – Plaza 66, Shanghai Longchamp – Spring City 66, Kunming
Longchamp – Grand Gateway 66, Shanghai MUFG Bank (China), Ltd. – Center 66, Wuxi
Longchamp – Heartland 66, Wuhan Taikang Life Insurance Co., Ltd. Hubei Branch – Heartland 66, Wuhan
Advanced Awards
ANTA – Grand Gateway 66, Shanghai Qeelin – Grand Gateway 66, Shanghai
Conrad Shenyang – Forum 66, Shenyang Qeelin – Plaza 66, Shanghai
HSBC China Wuxi branch – Center 66, Wuxi Siemens Ltd., China Shenyang Branch – Forum 66, Shenyang
Special Mention
ANTA – Grand Gateway 66, Shanghai Credit Agricole CIB (China) Limited – Plaza 66, Shanghai
Conrad Shenyang – Forum 66, Shenyang HSBC China Wuxi branch – Center 66, Wuxi



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 .

Laos Pauses Importer-Exporter System for Necessary Upgrades

(Photo: N&H General Trading Co.LTD)

The Ministry of Industry and Commerce has announced the temporary closure and upgrade of the Importer-Exporter Registration and Management System for goods and services.

Laos, China, Cambodia Launch Direct Cross-Border Transport Route

Cross-border transport route linking Laos, China, Cambodia. Kunming, Chian. 27 April 2025. (Photo: CCTV)

A new direct cross-border transport route connecting Laos, China and Cambodia has been officially launched to enhance regional transportation efficiency.

On 27 April, the Greater Mekong Subregion (GMS) direct cross-border transport route officially began operations, with vehicles departing from Kunming in Southwest China on their inaugural journey. The route passes through Vientiane Capital before terminating at Phnom Penh, Cambodia.

The route implements advanced smart logistics technologies and a “one container (truck) to the end” approach, which removes the necessity for cargo transfers or unpacking during transit. 

When compared with traditional methods, this new system is projected to decrease travel time from approximately 13 days to just 6-8 days, representing a 40 percent efficiency improvement, while also substantially reducing the risk of goods being damaged during cross-border shipping.

The route serves as an advancement in regional connectivity under the GMS Cross-Border Transport Facilitation Agreement, which includes six nations sharing the Mekong River basin, including China, Cambodia, Laos, Myanmar, Thailand, and Vietnam.

The Department of Transport in Yunnan has revealed intentions to continue expanding the cross-border logistics network and introduce additional international routes within the GMS framework to strengthen supply chain cooperation and promote high-quality economic development throughout the region.

Dusit Hotels and Resorts expands presence in Vietnam, opens luxury Dusit Le Palais Tu Hoa Hanoi on the banks of West Lake

Located in Hanoi’s historic Tay Ho district, the hotel draws inspiration from the life of Princess Từ Hoa and her enduring legacy of artistry, cultural exchange, and community upliftment.


BANGKOK, THAILAND – Media OutReach Newswire – 29 April 2025 – Dusit Hotels and Resorts, the hotel arm of Dusit International, one of Thailand’s leading hotel and property development companies, has announced the upcoming opening of Dusit Le Palais Tu Hoa Hanoi – a refined urban sanctuary set to welcome guests from 9 May 2025 in the heart of the Vietnamese capital.

Set to open on 9 May 2025, Dusit Le Palais Tu Hoa Hanoi is located on the tranquil shores of West Lake.
Set to open on 9 May 2025, Dusit Le Palais Tu Hoa Hanoi is located on the tranquil shores of West Lake.

Marking Dusit’s debut in Hanoi, and its second managed hotel in Vietnam following the success of Dusit Princess Moonrise Beach Resort Phu Quoc, the new property brings Dusit’s signature Thai-inspired gracious hospitality to the tranquil shores of West Lake, offering an elegant blend of modern luxury and timeless Vietnamese charm.

Inspired by the legacy of Princess Từ Hoa, a royal figure celebrated for her pioneering contributions to the silk industry in the Nghi Tàm area near West Lake, the hotel captures the spirit of craftsmanship, community, and cultural pride that defines the neighbourhood.

A daughter of Emperor Lý Thần Tông, who reigned from 1128 to 1138, Princess Từ Hoa famously left the royal court to cultivate mulberry trees and teach silk weaving to the local people. Her legacy lives on in the area’s continued association with quality craftsmanship – and now, in the design and spirit of Dusit Le Palais Tu Hoa Hanoi, where traditional elegance is thoughtfully reimagined for the modern era.

Comprising 207 beautifully appointed rooms and suites with panoramic views of the lake or city skyline, the hotel has been designed as a serene retreat for business and leisure travellers alike. Each space combines contemporary comfort with subtle Vietnamese detailing, all enhanced by the intuitive service and warm hospitality for which Dusit is known.

Guests can enjoy a curated collection of dining experiences celebrating both local and international flavours. Soi Restaurant showcases bold and authentic Thai cuisine, while Vinci Italian Restaurant and Rooftop Bar offers refined Italian fare alongside sweeping views of the city. Phở Lụa presents a cosy al fresco setting dedicated to Vietnam’s beloved noodle soup, and Dusit Gourmet provides an inviting space for artisanal pastries, afternoon tea, and freshly brewed coffee. The hotel also features four private dining rooms designed for exclusive gatherings and VIP occasions.

Alongside a fully equipped gym and spaces for wellness activities, the hotel also offers three elegant ballrooms and a rooftop event space with spectacular views over West Lake – ideal for weddings, corporate functions, and social celebrations.

“We are honoured to expand our presence in Vietnam and bring Dusit’s distinctive Thai-inspired gracious hospitality to Hanoi for the very first time,” said Gilles Cretallaz, Chief Operating Officer, Dusit International. “Inspired by the remarkable legacy of Princess Từ Hoa, Dusit Le Palais Tu Hoa Hanoi is much more than a new hotel—it is a celebration of cultural heritage, artistic spirit, and heartfelt service. By seamlessly blending the elegance of Vietnamese tradition with the warmth of Thai hospitality, we aim to create enriching experiences that resonate deeply with our guests and foster meaningful connections with the local community.”

Conveniently located on Au Co Street, just 20 minutes by car from Noi Bai International Airport, Dusit Le Palais Tu Hoa Hanoi provides easy access to many of the city’s cultural landmarks and attractions.

To celebrate its opening, the hotel is offering a special Princess’ Welcome package exclusively for Dusit Gold members. Benefits include exclusive rates, a bespoke welcome drink, daily breakfast for two at Soi Restaurant, early check-in, late check-out, and a complimentary room upgrade (subject to availability), plus up to 25% off dining.

Dusit Gold membership is free and available online at dusit.com/enrollment. Members enjoy a wide range of year-round privileges at participating Dusit Hotels and Resorts worldwide.

For reservations and enquiries, please visit dusit.com/dphv or contact dphv@dusit.com.

Hashtag: #dusitinternational #DusitLePalaisTuHoaHanoi

The issuer is solely responsible for the content of this announcement.

About Dusit Hotels and Resorts

is the hotel arm of Dusit International, one of Thailand’s leading hotel and property development companies. With a heartfelt belief and commitment to introducing Thai-inspired gracious hospitality to the world, Dusit Hotels and Resorts offers guests a uniquely special stay in high-style surroundings and a personalised approach to service. The group’s portfolio of hotels, resorts and luxury villas includes close to 300 properties operating under a total of eight brands (Devarana – Dusit Retreats, Dusit Thani, Dusit Suites, Dusit Collection, dusitD2, Dusit Princess, ASAI Hotels, and Elite Havens) across 18 countries worldwide.

For more information, please visit

About Dusit International

Established in 1948, or Dusit Thani Public Company Limited (DUSIT) is a leading hospitality group listed on the Stock Exchange of Thailand. Its operations comprise five distinct yet complementary business units: Dusit Hotels and Resorts, Dusit Hospitality Education, Dusit Foods, Dusit Estate, and Hospitality-Related Services.

Dusit Internationals diversified investments in real estate development, hospitality-related services, and the food sector are part of its long-term strategy for sustainable growth, which focuses on three key areas: balance, expansion and diversification.

For more information, please visit

Japan Honors Sonexay Siphandone with Order of the Rising Sun

Laos' Prime Minister Sonexay Siphandone speaks during a press conference with Japan's Prime Minister Shigeru Ishiba (not pictured) following a signing ceremony at the prime minister's office in central Tokyo on January 21, 2025. The Laos leader is in Japan for a three-day visit. (Photo by Richard A. Brooks / POOL / AFP)

On 29 April, the Japanese government announced that Grand Cordon of the Order of the Rising Sun is conferred on Sonexay Siphandone, Prime Minister of Laos

Examples of his major contributions related to Japan are as follows:

Prime Minister Sonexay has invited the Japanese
Companies to invest in Laos and to improve Lao investment
environment in his different capacities, including those as Governor of
Champasak Province, Minister of Planning and Investment, and Deputy
Prime Minister.

Last October, Prime Minister Sonexay welcomed the Japanese Prime Minister
Minister Ishiba is on his official visit to Laos. He also successfully led the Asia Zero-Emission Community (AZEC) Leaders Meeting, which is Japan’s initiative, as the ASEAN chair.

In January, Prime Minister Sonexay paid an official working
visit to Japan in order to commemorate the 70th anniversary of the
establishment of diplomatic relations between Japan and Laos, and
concurred with Prime Minister Ishiba on upgrading bilateral relations to
a “comprehensive strategic partnership”.

The embassy humbly extends sincere congratulations to Prime
Minister Sonexay on the conferment of the decoration.

The conferment ceremony for Prime Minister Sonexay will be held on
a later date unannounced.

At the 137th Canton Fair: Suofeiya Expands Global Reach with Innovative Design & Quality Intelligent Manufacturing


GUANGZHOU, CHINA Media OutReach Newswire – 29 April 2025 – Amidst a profound reshuffling of the global manufacturing landscape, China’s manufacturing is marching towards “intelligent manufacturing in China” driven by innovation and intelligence, leading the world’s industrial transformation. As the barometer of China’s foreign trade, the 137th Canton Fair has attracted extensive attention from around the world. Numerous Chinese brands have showcased their advantages in innovative technology, premium quality and favorable cost, demonstrating China’s status and influence in the global industrial chain.

At the 137th Canton Fair: Suofeiya Expands Global Reach with Innovative Design & Quality Intelligent Manufacturing

On April 23rd, the 2nd Phase of the 137th Canton Fair officially kicked off. It is the first time that the Canton Fair focuses on “Quality Home”. For the global visitors and buyers, it provides a one-stop home product purchasing platform. For the exhibitors, it offers an opportunity to fully display the innovative achievements of China’s building materials industry in environmental protection and intelligent technology,improving the brands’ competitiveness in the international market. As the leading brand in the customized home furnishing industry, Suofeiya demonstrated a brand-new one-stop living space solution featuring “Quality & Intelligent Manufacturing” with its 2025 new series on site. During the Fair, Suofeiya’s booth saw a continuous surge in visitors and buyers, highlighting its brand awareness and product competitiveness in the global market.

Smart Home Unveiled: New Series Debuts Worldwide

Suofeiya’s 2025 global debut of Alpha Pro Series, Fayven Master Series and Riemann Series impresses visitors and buyers with aesthetic design and cutting-edge process. Inspired by Niemeyer curves, the Riemann Series creates a minimalist kitchen with metal lacquer doors and wing craved arc handles, integrating an intelligent island with streamlined lighting; Capturing the trendy quiet luxury style, the Alpha Pro bathroom vanity adopts PP skin-feel material that is both stain-resistant and durable, and a suite-style design that optimizes storage; Maintaining the Italian minimalism style, the Fayven Master wine cabinet is a masterpiece of complicated processes, including a harmonious blend of various materials, the same-color wrapping process of back-to-back crescent handles, and invisible zoned design. Behind this series of complex processes lies Suofeiya’s powerful digital Industry 4.0 system and flexible manufacturing capabilities. Supported by a globally leading intelligent production system, Suofeiya achieves efficient, accurate, and stable delivery, continuously creating an ideal paradigm for global high-end customers.

Suofeiya has always been at the forefront of intelligence and digitalization, becoming a focus of the industry and attracting media attention. In a recent China Daily interview, Hao Jiang, Senior General Manager of Suofeiya Cabinet Manufacturing Center, said that, as early as 2016, Suofeiya successfully built Asia’s first flexible manufacturing production line for whole-home customization and set up 8 production bases globally. Currently, Suofeiya’s intelligent factory in Jiashan, Zhejiang, has completed the 5th iteration of the Industry 4.0, which means the entire procedure, involving design, production and installation, has been fully digitalized. With strong intelligent manufacturing capabilities and a comprehensive supply chain system, Suofeiya has successfully overcome the core challenges of high labor costs, low production efficiency, long supply cycles, and unstable product quality in the customized home furnishings industry.

Strong Delivery Strength Empowers Efficient Completion of Global Projects

As the leading brand in the global customized home furnishing industry, Suofeiya has always adhered to the customer-centric approach, continuously improving its global service system. So far, Suofeiya has completed and delivered over 15,000 projects in more than 70 countries and regions, winning widespread praise with high-quality products and one-stop services.

At this year’s Canton Fair, Suofeiya gained high recognition from the industry and media with its outstanding intelligent whole-house solutions and strong global delivery capabilities, further strengthening its leadership in the custom cabinetry sector. Relying on a world-leading intelligent manufacturing system, Suofeiya demonstrated strong advantages in production efficiency and delivery capacity. Chen Wei, Vice President of Suofeiya Home Collection Co.,Ltd, said in an interview with Yangcheng Evening News that China’s home furnishing industry has now entered the global top tier in intelligent manufacturing. As an early mover in digital transformation, Suofeiya has built several smart factories in China meeting Industry 4.0 standards, giving it a clear edge in global competition——Suofeiya’s production efficiency is 125% higher than comparable German production lines, and its robotic panel sorting accuracy is nearly 100%. Experts have rated its intelligent application level as internationally advanced and leading.

During the 137th Canton Fair, Suofeiya won high recognition from the industry and media for its excellent smart whole-home solutions and strong global delivery capabilities, further consolidating its leading position in the whole-home customization field. Ann An, Director of the Overseas Business Division, said in an interview with Guangdong Radio and Television that the Canton Fair sets up the “Quality Home” for the first time this year. Suofeiya provides overseas buyers with a new experience of one-stop all-category purchasing through its full-category, intelligent, and systematic whole-home customization solutions. This significantly improves purchasing efficiency and fully demonstrates the new advantages of Chinese home furnishing brands in the field of advanced technology and intelligent manufacturing.

2025 Overseas Franchise Summit Successfully Held

Growing Confidence in Overseas Business

April 25th witnessed the success of the 2025 Overseas Franchise Summit & Evening Banquet. The summit gathered many key potential customers to discuss Suofeiya’s global strategy, share overseas market development trends and industry insights, focusing on industry pain points and seeking cooperation opportunities to jointly draw a new blueprint for global development.

John Wang, President of Suofeiya Home Collection Co.,Ltd, pointed out in his speech that in the next five years, Suofeiya will increase investment and continue to accelerate its global layout to promote high-quality development of overseas businesses. Over the past three years, the scale and sales volume of the overseas business division have both grown by more than 50% annually. As for delivery capabilities, Suofeiya has strengthened its design, production technology, logistics, and other service systems to ensure the smooth delivery and completion of each project, committing to efficient delivery and worry-free cooperation.

Susan Pan, Vice President of Suofeiya Home Collection Co.,Ltd, introduced Suofeiya’s operation in China, emphasizing the company’s core competitiveness comes from “optimal product strength, leading manufacturing capability, and excellent innovation power.” With continuous investment in R&D and innovation, combined with world-leading production equipment and a mature operational system in China, Suofeiya believes that cooperating with partners from all over the world is the key to exploring overseas market and achieving long-term development.

Rico Jia, Project Director of the Overseas Business Division, combined practical experience of overseas projects to systematically analyze common industry pain points, comprehensively explaining the significant advantages of Suofeiya’s strong supply chain system and one-stop solution in project implementation. Cloris Xiao, Franchise Manager of the Overseas Business Division, provided a detailed interpretation of the overseas franchise policy.

During the summit, the guests have also been invited to visit the 4,500㎡exhibition hall where display all categories such as wardrobes, cabinets, whole cases, home products, and vanities. The guests spoke highly of Suofeiya’s cutting-edge design concepts, innovative processes, and materials, as well as its one-stop whole-home solution. The global layout and future prospects of China’s home furnishing industry were also met with high recognition and expectations at the summit.

Looking to the future, Suofeiya will continue to fully tap into the potential of the overseas market, step up efforts to explore overseas business models, and strengthen project delivery and service capabilities. More importantly, Suofeiya will empower the high-quality development of global home furnishing industry guided by the “Quality & Intelligent Manufacturing” strategy, creating a new chapter for a better life with global partners.

Global cooperation is always welcome
Feel free to contact us

Website: https://global.suofeiya.com/
Email: sales@suofeiyahome.com
WhatsApp: +8619966202249; +8618098179372
Facebook / Instagram / LinkedIn: Suofeiya Home
Hashtag: #Suofeiya

The issuer is solely responsible for the content of this announcement.

PAObank Announces FY2024 Annual Results Achieves Record-Breaking Performance Amplifies Resources to Expand Retail Banking Services

Loan Assets Reach a Record High of HK$3.13 billion Customer Deposits Have Significant Growth of 74% Net Interest Income Surged 70% to over HK$130 million

  • In 2024, PAObank achieved outstanding performance across key operational indicators, with net interest income increasing significantly by 70% year-on-year to over HK$130 million.
  • Dedicated to empowering SMEs, PAObank remains committed to supporting their upgrade and transformation. In 2024, total loans and advances to customers sustained an upward trend to over HK$3.13 billion, representing a year-on-year increase of 49%.
  • PAObank became a subsidiary of Lufax Holding Ltd., embarking on a new business strategy. PAObank is further expanding its retail banking services. The Bank offers attractive deposit interest rates by passing cost savings on to individual customers, total customer deposits for the year have increased significantly by 74% to HK$4.35 billion. Following the launch of bancassurance products this year, PAObank will roll out more retail banking services to create greater value for individual customers.

HONG KONG SAR – Media OutReach Newswire – 29 April 2025 – PAO Bank Limited (“PAObank”), announced its annual results for the year ended 31 December 2024. As Hong Kong navigates a period of economic transformation, SMEs are confronted with significant funding needs to facilitate their upgrades and transitions. PAObank, as the first digital bank dedicated to SMEs in Hong Kong, has remained a steadfast presence to its clients. In 2024, PAObank achieved substantial business growth, reflected in its sustained improvements in core profitability. Net interest income for the year surged by 70% year-on-year to over HK$130 million, with a net interest margin increased to 3.17%.

Leveraging our forward-looking market strategies and solid business management, key operational indicators of PAObank in 2024 have shown significant growth. During the year, total loans and advances to customers increased by 49% year-on-year, surpassing HK$3.13 billion. Total customer deposits for the year rose by 74% to HK$4.35 billion, with loan-to-deposit ratio remaining at a stable level of 72%. In April 2024, PAObank officially became a subsidiary of Lufax Holding Limited (“Lufax”) (06623.HK, NYSE LU), embarking on the next phase of its business direction and strategy. PAObank is now focusing on expanding retail banking services while channelling more resources into product development and technology advancement. Meanwhile, the Bank passes cost savings on to individual customers in the form of attractive deposit interest rates. The related investments are reflected in the FY24 annual results.

Despite increased credit loss among SME customers due to economic instability last year, PAObank remains committed to its mission of supporting SMEs. The Bank has introduced more loan products to alleviate financial burdens of SMEs. Following the launch of the “Business Secured Loans” in the fourth quarter of 2024, which offers instalment loans and revolving loans for SMEs to facilitate their business growth and transformation, PAObank introduced “Cross-border e-Commerce Revolving Loan” in early 2025. This product targets the rapidly growing e-commerce market and supports SMEs in expanding their e-commerce business presence. Besides, PAObank proactively participated in the Government’s SME support measures and The Taskforce on SME Lending, contributing to broader efforts that support SMEs. PAObank is proactively addressing SME financing needs, our robust risk management system manages to maintain assets quality at healthy level. As of 31 December 2024, about 25%[1] of SMEs borrowing from PAObank have not obtained bank loans before, and about 8.2%[2] of start-ups operating for less than 3 years received unsecured loan, reflecting that PAObank is assisting SMEs in unlocking their full potential.

In addition, PAObank is proactively expanding its retail banking services and investing resources in products enhancement and development. In March 2025, PAObank obtained an Insurance Agency Licence and officially ventured into the insurance sector. PAObank has established strategic partnership with China Ping An Insurance (Hong Kong) Company Limited and FWD Hong Kong to provide general and life insurance respectively. By utilising cutting-edge fintech and Application Programming Interface (API) technology, PAObank integrates with the platform of insurance companies to offer seamless online bancassurance experience. PAObank will continue to broaden its range of financial services for individual customers this year by introducing more offerings beyond time deposits and insurance, and providing attractive deposit interest rates to reward customers, thereby fully advancing its retail banking business.

Looking ahead, leveraging its leading fintech advantages, PAObank is dedicated to providing more comprehensive and personalised financial solutions to both SMEs and individual customers. Amid global market volatility, PAObank will continue to closely monitor the portfolio’s credit performance and maintain robust credit quality. Staying true to the original mission of promoting financial inclusion, PAObank remains committed in delivering innovative solutions to address the service gaps in banking sectors and thus promotes the development of financial inclusion both locally and across the Greater Bay Area.

For the full report of PAObank’s 2024 financial statements, please visit www.paob.com.hk


[1] As of 31 December 2024, about 25% of SMEs borrowing from PAObank have not obtained bank loans before amongst the approved loan cases of PAObank.

[2] As of 31 December 2024, about 8.2% of SMEs were start-ups operating for less than 3 years amongst the approved loan cases of PAObank.

Hashtag: #PAObank

The issuer is solely responsible for the content of this announcement.

PAO Bank Limited

PAO Bank Limited (“PAObank”), a wholly-owned subsidiary of Lufax Holding Ltd (“Lufax”) (SEHK: 6623; NYSE: LU) and a member of Ping An Insurance (Group) Company of China, Ltd. (“Ping An”) (SEHK: 2318; SSE: 601318), is committed to fostering financial inclusion and establishing a digital banking ecosystem by leveraging its extensive experience in SME banking services and its leading financial technology advantages. PAObank was granted a banking licence by the Hong Kong Monetary Authority in May 2019 to offer banking services via virtual channels. PAObank is expanding diverse business segments including retail banking and SME banking.

Laos Expands Vocational Training to Curb Labor Shortage

Lao labors working in a silk factory (Photo: KPL)

The Lao government will introduce new vocational education programs in the 2024–2025 academic year as part of efforts to modernize education and address labor shortages through improved human resource development.