Decoding the value secrets of companies going overseas.
As globalization continues to advance, more and more companies are targeting overseas markets in search of new growth momentum. The...
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Insights
Broader market commentary and insights, research ideas, case studies, and other topics worth discussing
The Alibaba-backed Synagistic is coming to Hong Kong for a reverse takeover listing: it ranks second in Southeast Asia and specializes in e-commerce operation solutions.
After two years of silence, Hong Kong finally has the opportunity to welcome its third company to go public through a De-SPAC listing....
The valuation industry needs stronger regulation.
Recently, a liquidator filed a lawsuit against the accounting firm and valuation company employed by a listed company, accusing them of...
Extreme weather is becoming more frequent! Here are 5 applications of weather futures.
Weather futures are an effective financial tool, particularly suitable for industries that are significantly affected by weather...
Pedestrian footbridges transform into ESG solar power stations
Many public and private buildings have explored the installation of solar energy systems on their rooftops. However, some buildings have...
KidZania: An Educational and Entertaining Example of a Successful Business Model
Over 20 years ago, an edutainment company called KidZania quietly emerged in Mexico. KidZania is the perfect blend of entertainment and...
The dilemmas of leading companies and valuation premiums
Leading companies enjoy higher valuation multiples due to their outstanding market positions, often holding significant market share and...
The implications of land-entry travelers on hotel occupancy rates
This year, the State Council further approved the "Individual Visit Scheme" for Hong Kong from a total of 59 cities nationwide....
Is the rise in employee costs the Achilles' heel of Hong Kong restaurants?
A lot of adverse comments were noted in response to a post by Dr Edwin Lee, CEO of a local shop fund, published last week. Dr Lee quoted...
Swatch takes an unexpected approach in the luxury watch market
Morgan Stanley and LuxeConsult release an annual report on the state of the Swiss watch industry, ranking the top 50 Swiss watch...
Lego, Toys "R" Us AI-generated advertising controversy: How can the creative industry address the trend of human-machine integration
Toys "R" Us recently released an advertisement 'created' by artificial intelligence. The ad was made using OpenAI's text-to-video tool...
Examining the Real Estate Value of IP (Intellectual Property) Through the Success and Failure of Wenheyou
Wenheyou is a catering company and cultural brand that originated in Changsha, Hunan. The young founders started by selling local snacks,...
The Era of Fragmented Content Multidimensional Impacts from Music to the Economy
Across various social media platforms, an increasing number of users are more inclined to post shorter updates, videos, and other...
Luxury brand collaborations with real estate create greater value
Luxury brand stores generally have a distinct ambiance. Brands create a luxurious shopping experience in their stores through elements...
Is dual listing competition or a win-win?
Despite the weak capital market, many Singapore companies have recently been seeking overseas listings, indicating their strong demand...
Capturing the Tide of Productivity, Hong Kong Enterprises Partner with Indonesia for Mutual Gains
As de-globalization and supply chain risks are increasingly challenging many enterprises, the trend of production capacity relocation has...
The Relationship Between Hong Kong People Moving Northward and Independent Visitors without Staying Overnight in Hong Kong is a "Chicken and Egg" Situation?
More than a year after the reopening of borders, the recovery of the retail and catering industry in Hong Kong has not been as expected...
The Challenges and Opportunities in Singapore's Efforts to Boost the Stock Market
In recent years, the financial market has been favoring a comparison between Singapore and Hong Kong, with Singapore having already...
Vietnam Emerged as a Beneficiary of the China-U.S. Trade War, but the Real Estate Issue Looms Large
The corruption case of Vietnam's female billionaire Truong My Lan, which has rocked the international community, has indeed led to a...
HKEX's New Climate-related Disclosure Requirements: A Challenge for Corporate Carbon Data Management
Against the backdrop of the growing global climate change challenge, corporate environmental responsibility has become increasingly...
The decline in SHEIN's valuation reflects the phenomenon of involution
After experiencing excessive competition, many enterprises can no longer break through their own limitations, and various industries have...
Chicken Coop Economics - Think about the Credit Business Value
A colloquial term from the last century, "chicken coop", has recently resurfaced in business and economic commentaries. The author...
The Trouble Caused by Trump manipulating asset valuations
The former US President Trump's family's private business is alleged to have fraudulently manipulated the valuation of key assets, in...
The first step in ESG disclosure requirements for exchanges is to collect carbon emissions data
On April 14, 2024, the Hong Kong Exchanges and Clearing Limited (HKEX) released a consultation paper proposing that all listed companies...
Shophouses in Singapore showcase the potential value of community commercial real estate investment
In the past 5 to 10 years, shophouses in Singapore have become popular investment choices for private equity funds, family offices, and...
The trend of Southeast Asian companies going public through SPACs remains unabated, the U.S is further tightening the regulations for SPAC listings.
At the beginning of 2024, the U.S. Securities and Exchange Commission (SEC) approved new rules and amendments aimed at strengthening...
Our Senior Real Estate Financial Analyst Brian NG spoke about the Cap545 Amendment Bill at LegCo
We delivered two suggestions at LegCo’s public hearing on last Friday (1st March) regarding the Cap545 Amendment Bill, on administrative...
China's Pre-REITs are paving the way for the development of publicly traded REITs
In November of last year, Greenland Hong Kong signed a Pre-REITs cooperation agreement with Beijing-based Gaorong Capital. The objective...
Tesla loses the electric vehicle throne, BYD takes over as the new sales champion
In the fourth quarter of 2023, BYD (01211) - leading Chinese electric vehicle brand successfully surpassed Tesla and claimed the top spot...
Encourage the Provision of Residential Care Homes for the Elderly
The Lands Administration Office of Lands Department launched a new Practice Notice on 21 June regarding Incentive Scheme to encourage the...
The crisis facing the unique residential rental system in Korea, Jeonse
韓國特殊住宅租賃制度——傳貰的存亡危機 在韓國房地產市場中，有一種獨有的房地產租住制度——傳貰（전세），或當地華人會稱為全租。傳貰就是租客付出一定額度的保證金給業主，從而獲得在一定時間內的房地產使用及收益權。而對於業主來說，傳貰比銀行貸款可以更快及簡單地獲得一筆大金額，另一...
China's new REITs document benefits box malls and bottom-floor residential tenants
內地公募REITs文件：盒子商場、住宅底部商戶最受惠 從2020年中國內地基礎設施領域公募REITs機制發佈以來，到目前為止，大概共有27隻現已上市，總計募資規模達800億元人民幣，項目類別涵蓋公路建設，保障性住房及產業園區等。...
The Impact of ChatGPT's Popularity on the Real Estate Industry
ChatGPT掀熱潮於房地產領域的影響 隨著人工智能開發漸趨成熟，近日成為商界焦點的ChatGPT再次掀起市場對人工智能的討論。早於數年前，歐美有不少致力於房地產人工智能應用的初創科技公司創立，其中不乏重點開發人工智能驅動的商業房地產財務分析平台。...
Obesity Demands Urgent Attention
肥胖症刻不容緩 數據網站「Our World in Data」曾公布「世界肥胖地圖」，顯示了全球國家的肥胖率，太平洋島國諾魯（Nauru）排名第一位，肥胖率高達60.7%。發達國家（如美國）也有超過37%肥胖人口，中東國家（如科威特及沙地阿拉伯）肥胖率也超過35%。縱使亞洲...
Alex Leung of CHFT analyses Borrett Road enbloc sale
CK Asset sells 21 Borrett Road, Mid-levels to Sino Suisse CHFT provides analysis to Mingtiandi on unit price comparison & car parking ratio
Tung Chung commercial land was failed to sell in 2020. CHFT Alex Leung proposed mixed data centre &
CHFT Alex Leung, in Oct 2020, proposed a commercial land in a new reclamation area for mixed comm and data centre uses. The govt adopted
Home anti-infection stimulates demand for home economy
羅珏瑜 華坊諮詢評估有限公司執行董事 最近財經市場出現了一個新名詞「宅經濟」(Work from Home Economy)。「宅」在華語圈是一個對足不出户，長期居家的形容詞。英國政府去年年底煞停了亞馬遜收購Deliveroo（戶戶送）的股權交易，表示有壟斷市場的擔憂，但今...
The Rise of Future Consultancy: Whoever Controls the Past, Controls the Future
盧銘恩 華坊諮詢評估有限公司董事總經理 世局多變，個人以至企業機構都需要適應所謂的新常態（New Normal）。面對未知的未來，個人尚且會求神問卜，趨吉避凶，企業機構也會對未來充滿興趣，並希望預早制訂公司策略，以應對同業激烈的競爭。隨著展望未來越發重要，配合當今人工智能科...
"Unicorns" are flying all over the world except one line of business
羅珏瑜 華坊諮詢評估有限公司執行董事 獨角獸公司泛指未上市，且估值超過10億美元的企業，而有個行業，全球的市場總額於2026年預計高達1,251億美元，預測期的複合年均增長率達12.4%(數據來源：Businesswire...
Pricing of privatization of public companies
羅珏瑜 華坊諮詢評估有限公司執行董事 上市公司會德豐(0020)2月份宣佈將啟動私有化。根據公告，會德豐大股東吳光正及其家族將以1股九倉(0004)股票、1股九龍倉置業(1997)股票及12元現金，置換1股會德豐股票，溢價率較會德豐停牌前股價達到約50%。市場自該消息公佈後...
Monopoly is not the key, Electronic cigarette enterprise valuation also depends on the policy
羅珏瑜 華坊諮詢評估有限公司執行董事 近年電子煙業務相當蓬勃，全球多個國家和地區都逐步開展這項業務，滲透率相當高，數據顯示不同國家和地區都有銷售電子煙，不過，全球煙民人數達11億，涉及的煙草稅高企，整個市場規模逾百億美元，投資者預計身處這行業的公司市值將會十分可觀。...
Luxury brand joint real estate
奢侈品牌繼承了歐洲的工藝文化，甚至宮廷階層的審美觀，在後工業革命年代繼續產出不少經典又價值不菲的消費品。奢侈品牌的店舖，一般有著與別不同的氛圍。品牌通過室內擺設、氣味、音樂等元素來打造店內的奢侈品購物體驗，在店裡你購買的並不僅僅是一樣商品，還有選購時附帶的品牌體驗，是一種超...
Artificial Intelligence and Real Estate Institutional Investment
當下房地產業界對於人工智能，有人趨之若鶩，有的則敬而遠之。無非也是恐懼人工智能將取締其在行業之角色，但於時代的巨輪下，從業者應好好與時並進，好好利用人工智能去輔助房地產行業的發展。 人工智能的特點包括其不間斷性及高效率，應用在房地產市場上，人工智能可以在短時間內透過大數據，...
Global alternative real estate investment trends
傳統來說，房地產投資大致上是兩大類型，以收取租金的現金流型態的投資物業，如寫字樓，商舖等，另外就是以銷售為目標的開髮型項目，如土地開發，住宅發展等。 隨著近年科技的迅速發展，衍生對都市生活型態的巨大變化。亦促使房地產作為一個實體空間的功能開始變得多元化，告別以往比較單調的用...
The investment potential of residential real estate in the U.S. Bay Area
位處於美國西岸北加州的三藩市灣區，通常簡稱為灣區。雖然它的邊界存在許多定義，但灣區各縣政府協會定義，九個縣共同構成該地區，這包括大家熟悉的矽谷，即阿拉米達(Alameda)、康特拉科斯塔(Contra Costa)、馬林(Marin)、納帕(Napa)、聖馬刁(San...
Development opportunities for Wellness Real Estate
盧銘恩 華坊諮詢評估有限公司董事總經理 世紀疫情肆虐業已差不多兩年，人類各個範疇都承受著前所未有的改變。房地產也一樣，人們比以往任何時候都更加關注房地產設計的健康程度，而Wellness Lifestyle Real Estate（健康生活風格房地產）這倡議在全球各地也備受...
ESG - investment trends from a sustainable development perspective
盧銘恩 華坊諮詢評估有限公司董事總經理 隨著可持續發展和高質量發展不斷深入人心，“ESG”概念正被大眾所熟知。與此同時，ESG投資理念也逐漸興起。尤其在新冠疫情下，各國對綠色經濟和可持續發展更為關注，ESG投資也獲得更多投資者的重視。...
羅珏瑜: 從碳經濟學探索未來
削減碳排放已成為影響未來的重要議題，「碳經濟學」（Carbonomics）應運而生，在進行商業估值、搭建財務預測模型的同時，不得不考慮削減碳排放在經濟活動各個範疇帶來的影響。 碳排放4個主要來源 根據國際能源署（IEA）2018年資料，按經濟部門分類，中國碳排放的來源主要來...
碳中和路漫漫其修遠兮
汪心浩 華坊評估董事 9月以來，內地的江蘇省就開始進行嚴格的 「能耗雙控」，即能源消費強度和總量的雙控制。隨後廣東省開始限電，然後迅速擴散到雲南、廣西、浙江等地。據不完全統計，目前全國已經有16個省份推出了力度不等的限電措施，並將持續一段時間。...
New concept on valuation
羅珏瑜 華坊諮詢評估執行董事 很多人問，沒有盈利的公司怎樣評估？初創企業沒有任何業績，如何得知其價值？而投資者又基於什麼進行投資？傳統上，要進行股權評估，其中一種常用的方法為市場法，評估師通常考慮的財務比率包括：市盈率（P/E）、市賬率（P/B）、市銷率（P/S）等。誠然，...
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