ESG Reporting

Shanghai Able Digital Science&amp;Tech Co., Ltd. (“Able Digital”) is a reputable digital teaching and learning solution provider for higher education institutions in China, committed to the provision, delivery and operation of digital educational content and digital teaching and learning environment services and products for higher education institutions. Able Digital offerings cover all critical aspects from teaching, learning, practicing, testing and evaluating to administrating. According to Frost &amp; Sullivan, Able Digital ranked second in terms of revenue among all companies in China’s higher education teaching and learning digitalization market with a market share of 4.0% and first in terms of revenue among all companies in China’s higher education digital educational content production market with a market share of 7.3% in 2024.
With regard to this listing application, AVISTA Group is honored to be engaged in providing ESG advisory services.
Congratulations again Shanghai Able Digital Science&amp;Tech Co., Ltd. （2687.HK） on its successful listing. The issue price of the shares is  HKD67.50 per share, and the amount of funds raised is HKD 450 million.
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Congratulations to Shanghai Able Digital Science&Tech Co., Ltd.（2687.HK） on its Successful Listing

Congratulations to X.J. Electrics (Hu Bei) Co., Ltd (2619.SEHK) on its successful Listing on the Mainboard of HKSE on 25 June 2025 
X.J. Electrics (Hu Bei) Co., Ltd (X.J. Electrics) are a manufacturer of lifestyle household goods in the PRC. X.J. Electrics mainly operate on ODM/OEM basis and have built a customer portfolio comprising globally reputable and long-standing names, such as Walmart, Telebrands, SEB, Sensio, Hamilton Beach and Philips etc. With X.J. Electrics capability to design, develop and manufacture a range of small home appliances, we have gained recognition in our small kitchen appliances. 
With regard to this listing application, AVISTA Group is honored to be engaged in providing ESG consulting services, as well as valuation services for various properties located in Guangdong Province and Hubei Province, the PRC. 
Congratulations again to X.J. Electrics (Hu Bei) Co., Ltd (2619.SEHK) on its successful listing. The issue price of the shares is HKD 2.86 per share, and the amount of funds raised is HKD 195.11 million. 
 
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Congratulations to X.J. Electrics (Hu Bei) Co., Ltd (2619.SEHK) on its successful Listing on the Mainboard of HKSE on 25 June 2025 

On September 16, 2024, the Hong Kong Institute of Certified Public Accountants ("HKICPA") issued Exposure Drafts for HKFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and HKFRS S2 Climate-related Disclosures, seeking market comments. The HKICPA has proposed full convergence of HKFRS S1 and S2 (HKFRS Sustainability Disclosure Standards) with the IFRS S1 and S2 standards set by the International Sustainability Standards Board (ISSB), effective from August 1, 2025.
 
The application of HKFRS S1 and S2 will remain voluntary until mandated by relevant authorities, with publicly accountable entities (PAEs), including listed companies and regulated financial institutions in Hong Kong, prioritized for implementation. As outlined in FAQ 1 of the explanatory memorandum accompanying the Exposure Drafts (addressing "Which entities must apply the HK Standards and by when?"), relevant authorities/regulators authorities, including HKEX, HKMA, SFC, MPFA, and IA, will conduct their consultations soon to determine the approach and timeline for adopting HKFRS S1 and S2. Entities required to prepare sustainability disclosures will continue to follow the regulations, guidelines, or rules specified by these authorities.  Until further decisions are made by the relevant authorities/regulators, entities preparing sustainability disclosures have the sole discretion to decide whether sustainability disclosures should be prepared in accordance with the HK Standards or other frameworks.
 
This alignment is crucial for Hong Kong as a global financial center, facilitating the integration of global capital with local businesses in Hong Kong, mainland China, and beyond.
 
AVISTA Group has submitted comments on the Exposure Drafts, including feedback on the proposal to fully align HKFRS S1 and S2 with IFRS S1 and S2, along with other relevant comments. We are committed to actively contributing to the enhancement and advancement of the industry market, leveraging our expertise, experience, and dedication to excellence to drive positive change and progress within the industry.
 
For further information, please refer to the exposure drafts document: <a title="https://www.hkicpa.org.hk/en/Standards-setting/Standards/Open-for-comment-documents/Sustainability-Reporting" href="https://www.hkicpa.org.hk/en/Standards-setting/Standards/Open-for-comment-documents/Sustainability-Reporting" data-outlook-id="03ea1a45-a56b-4d51-a74d-475864bf726b">https://www.hkicpa.org.hk/en/Standards-setting/Standards/Open-for-comment-documents/Sustainability-Reporting</a>
 
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AVISTA Provided Feedback on Exposure Drafts for HKFRS S1 and S2 Released by HKICPA

AVISTA Group was honored to be invited by the ESG Seasonal Forum as the sponsor of the 2024 China ESG Summit - Consumer Goods Industry. The conference, themed “Enhancing ESG Standards, Building a Sustainable Future Together,” was successfully held on September 5th and 6th, 2024, in Shanghai.
 
Our Managing Partner, Mr. Vincent Pang, had the honor of delivering a speech titled “Driving Brand Value: Harnessing the Power of ESG Integration,” emphasizing the crucial role of ESG integration in enhancing brand value. His insights provided attendees with valuable guidance on effectively implementing ESG strategies in the consumer goods industry.
 
The Summit showcased practical experiences from consumer goods companies, offering insights into ESG trends in China, sustainable consumption in the Asia-Pacific region and China and shifts in consumer behavior. Attendees have gained valuable knowledge on achieving environmental goals through sustainable supply chains and leveraging digitalization for improved ESG outcomes, enhancing their understanding of current trends and challenges in ESG for consumer goods.
 
We extend our appreciation to the organizers for the invitation, allowing us to share our expertise and engage with industry peers. Together, we are dedicated to exploring and promoting the comprehensive implementation and innovative practices of ESG in businesses, striving to uphold commitments to sustainable development.
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As a Guest Speaker and Sponsor at the 2024 China ESG Summit - Consumer Goods Industry in Shanghai

Our Principal of Risk Management Advisory, Ms. Sabrina Lam, was honored to be invited as a guest speaker by the Society of Chinese Accountants and Auditors (SCAA) for its seminar titled “Implications of HKEX New Climate Disclosure Requirements on SMPs and SMEs”.
 
During the seminar, Sabrina emphasized the importance of addressing Scope 3 GHG emissions, setting GHG reduction targets and promoting responsible supply chain management for SMPs and SMEs, as they are part of the value chain of listed companies obliged to comply with HKEX’s new climate disclosure requirements. To assist SMPs and SMEs in enhancing their overall sustainability performance and gaining a competitive advantage through ESG, the session also highlighted the value of ESG integration into their business models with case studies and showcased the global key ESG trends. 
 
As a leading professional advisory firm in providing sustainability and climate solutions, AVISTA values the opportunity to share our knowledge and contribute to the professional development of industry peers through platforms like the SCAA Seminar.
 
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As Guest Speaker at the Society of Chinese Accountants and Auditors (SCAA) Seminar – “Implications of HKEX New Climate Disclosure Requirements on SMPs and SMEs” 

On April 19, 2024, The Stock Exchange of Hong Kong Limited (the Exchange) released its Consultation Conclusions on the enhancement of climate-related disclosures under its environmental, social, and governance (ESG) framework.
Taking into account market feedback and aligning with the Hong Kong Government's sustainability disclosure vision and the International Sustainability Standards Board’s (ISSB) jurisdictional guide preview, the proposals were adjusted to closely reflect IFRS S2 Climate-related Disclosures (IFRS S2) as outlined in the Consultation Conclusions (New Climate Requirements).
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The New Climate Requirements, based on IFRS S2, introduce implementation reliefs including proportionality and scaling-in measures to address reporting challenges that may be faced by issuers. 
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Along with that, the amended Listing Rules will be effective from January 1, 2025.
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Check out the <a href="https://www.hkex.com.hk/-/media/HKEX-Market/News/Market-Consultations/2016-Present/April-2023-Climate-related-Disclosures/Conclusions-Apr-2024/cp202304cc.pdf" target="_blank" rel="noopener">Consultation Conclusions</a> document for more details.

Consultation Conclusions on Enhancement of Climate-related Disclosures under the ESG Framework

We are pleased to announce that AVISTA has officially become a corporate member of the Business Environment Council. As a leading professional advisory firm dedicated to advancing sustainability, we are firmly committed to empowering our clients to unlock growth opportunities through our <a href="https://www.avaval.com/en/our-services/ESG-Advisory">Sustainability and Climate Solutions</a>.
 
This strategic alignment with Hong Kong’s leading coalition of responsible businesses and experts will strengthen our engagement and collaboration with like-minded organizations, further propelling our shared mission of sustainable development. Together with our fellow members, we aim to drive green innovation and champion sustainable business practices, marking a significant step forward in our sustainability journey.
 
We look forward to our future collaborations with the Business Environment Council. Together, AVISTA creates business value while embracing a sustainable future – for its people, for its clients, for its communities, and for the planet. 
 
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