Top Performing Companies Adopted Robust Governance Structure
HONG KONG SAR - Media OutReach Newswire - 12 December 2024 - Catherine Leung, Chairperson of the Chamber of Hong Kong Listed Companies (CHKLC) said at the Hong Kong Corporate Governance & ESG Excellence Awards 2024 (Awards) Gala Dinner tonight, “Hong Kong is at the stage of transition faced with most ever uncertainties. Opportunities still lie ahead for the city’s market capital, trade and logistics businesses, if we play it well.” Many local listed companies took no time to showcase their readiness. The 2024 Awards have received the highest number of entries with more companies making voluntary compliance with the best practices of Global Climate Change-related protocol and standards.
The Awards 2024 include six-sub-groups - Hang Seng Index Constituent Companies (HSI), Hang Seng Composite Index Constituent Companies, Hang Seng China (Hong Kong-listed) 100 Index Constituent Companies, Weighted Voting Rights and Pre-revenue Companies, Others & GEM Companies, and Newly-listed Companies. Companies excelling in the areas of corporate governance or the ESG practices (environmental, social and governance) will be recognized.
It is interesting to note that the entries for the ESG Award Category this year have surpassed those for the Corporate Governance Award Category, underlying the rising prominence of ESG as a key corporate performance yardstick for local listed companies.
This year’s Awards have also witnessed entries from more diverse businesses – not only from the traditional industries such as real estate, financial services and manufacturers but also from the digital industries such as the artificial intelligence and social media as well as the advanced technology companies, highlighting the changing landscape of listed companies in Hong Kong.
Lenovo Group Ltd and Budweiser Brewing Company APAC Limited 1876 took away awards in both Corporate Governance and the ESG streams under the HSI category. Sino Land Company Limited 83 and China Resources Pharmaceutical Group Limited 3320 are winners in both awards under the Hang Seng China (Hong Kong-listed) 100 Index Constituent Companies category. This is a testament that local listed companies are putting emphasis on not only their corporate governance performance but also their ESG standards, at a time that sustainable business and green commitment will bring investment value to them (See Appendix 1 for full list of winners).
Judges commended the winning companies under the Corporate Governance Awards Category have adopted robust governance practices and structure fuelling their business growth and share prices. They have demonstrated their risk management and internal control system are in place and have shown readiness for board diversity, improved communication with shareholders and a clear dividend policy.
Winning companies under the ESG Award Category have also won the judges’ applause. All of them have adopted comprehensive ESG strategies. Some companies have even made voluntary compliance with the best practices of Global Climate Change-related protocol and standards and are committed to creating a roadmap for decarbonisation.
The Gala Dinner was graced by Dr Dennis Lo, the Vice-Chancellor Designate of the Chinese University of Hong Kong and the pioneer of the groundbreaking non-invasive prenatal testing, to deliver a speech. He spoke on his very own journey in life sciences and his vision for Hong Kong as a science and innovation hub. His sharing has truly inspired Hongkongers to create and seize opportunities in this challenging time.
The annual Awards Programme aims to establish a benchmark for the highest level of corporate governance and ESG of listed companies in Hong Kong. It encourages companies to come forward and showcase their policies, strategies and best practices in corporate governance and ESG, celebrate success and set an example for other companies to follow.
Vistra is the title sponsor of the Awards 2024 Gala Dinner. Mr Hailiang Zhang, Business Head and Regional Managing Director, Greater China of Vistra, said the company was pleased with the sponsorship, which aligns with the company’s focus on enhancing companies’ corporate governance, encouraging robust and effective decision-making through processes, practices, and policies, and promoting ESG practices that help businesses create value and achieve growth.
