As a century-old professional global investment publication, Barron's Chinese Edition has been dedicated to fostering the growth of CFOs in Chinese companies. The Noah CFO Roundtable of Listed Companies is a flagship summit co-hosted by Noah and Barron's Chinese Edition, designed to engage CFOs in a meaningful discussions. This roundtable brings together CFOs and their teams and provides a platform to share experiences, exchange ideas, and discuss key issues that matter most to them, including navigating complex financial markets, managing risks, optimizing capital structures, and ensuring compliance with an ever-changing regulatory environment.
Unlike many CFO networking events, Noah and Barron's offered an open and candid platform to explore the common challenges and core concerns that CFOs genuinely care about today. The Noah CFO Roundtable of Listed Companies features a series of discussions, enabling real-time ways to tackle challenges and foster honest dialogue.
After successful events in Shanghai, Shenzhen, and Hong Kong in 2023, the Noah 2024 CFO Roundtable of Listed Companies returned to Hong Kong on October 18, 2024, at the Hong Kong Stock Exchange. This event hosted economists with a global perspective, leaders of financial institutions, and CFOs of listed companies to engage in discussions on topics such as Hong Kong’s potential as an international financial center, global markets, capital markets, and fund management for companies expanding overseas. Through in-depth exploration of these relevant issues, participants gained valuable insights.
A special welcome address was delivered by Mr. Jaymal Amin, a diplomat at the British Consulate General Hong Kong. He provided in-depth analysis of why the UK considers Hong Kong a core trading partner and praised the city’s unique advantages and bright prospects as a globally recognized international financial and trading center. He believes that CFOs will seize this valuable opportunity to exchange insights, spark ideas, and collaborate to promote the prosperous development of Hong Kong and businesses operating there.
Mr. Jaymal Amin, Diplomat at the British Consulate General Hong Kong
Mr. He Gang, Editor-in-Chief at Caijing Magazine and Barron's Chinese Edition, along with Mr. Grant Pan, CFO of Noah Holdings and CEO of Ark Hong Kong, set the stage for this roundtable. They began by exploring the original purpose behind hosting the CFO Roundtable of Listed Companies and briefly reviewing key topics and findings from previous roundtables.
1. In an era marked by uncertainty, corporate development and fund management have become significant topics of focus. Fund management is vital for business survival; forecasting cash flow is regarded as one of the greatest challenges.
2. CFOs must prepare differently when positioning themselves in mature markets versus expanding into emerging markets; localization is crucial in this process.
3. Furthermore, digital transformation can significantly enhance management efficiency and reduce costs while supporting international market expansion.
When discussing why Hong Kong was chosen as the venue for this event, Grant Pan stated that Hong Kong serves as a super connector between investors and international markets – a critical component of Noah's international strategy. They also discussed recent trends in capital markets and Hong Kong stocks, acknowledging the vibrancy of the market while noting there was still room for improvements in liquidity and value discovery.
Mr. Grant Pan, CFO of Noah Holdings and Ark Hong Kong CEO
Mr. He Gang, Editor-in-Chief at Caijing and Barron's Chinese Edition
Different World, Same Us
Setting Sail Again: Noah’s New International Brands
Amid numerous complex internal and external factors coupled with intensifying market competition, Ark Wealth – Noah’s new international brand – was launched during the event. It embodies a spirit of innovation and an international vision while also representing a commitment to continuously refining its service philosophy to meet client needs alongside a long-term dedication to compliant business practices.
The roundtable was held at the Hong Kong Stock Exchange – a venue that marks a significant milestone for Noah following its secondary listing there. During the event, Mr. Grant Pan, CFO of Noah Holdings and CEO of Ark Hong Kong; Ms. Peng Jing, CEO of Olive Asset Management; and Mr. Chen Kuncai, General Manager of Glory Family Heritage Channel Management and Marketing Center; provided detailed introductions to these new international brands: asset management arm, Olive Asset Management; global insurance, trust, and comprehensive services arm, Glory Family Heritage. Together with Mr. Zander Yin, Co-founder and CEO of Noah Holdings, Mr. Zhou Keke, CEO of iARK, and many guests present, they witnessed the Ark’s launch!
This new international brand launch represents an important step in Noah's international business strategy, with the launch ceremony symbolizing its long-term commitment to serving global Chinese clients. As the core of its global strategy, Ark is set on becoming the preferred overseas wealth management brand for global Chinese - embodying the wealth, trust, and future of its clients. Upholding the slogan "Different World, Same Us," Ark ensures that no matter how the world changes, it will always accompany clients on their journey going forward.
The Power of Hong Kong
Hong Kong has consistently attracted global investors due to its unique geographical location, robust legal framework, and free economic system. The city serves as the key hub for Noah's international expansion.
In his keynote speech titled "The Power of Hong Kong," Zander Yin discussed Noah's steady progress toward internationalization, its comprehensive capabilities encompassing investment research, services, and technology, as well as its professional teams. He outlined the origins and positioning of the new international brands, stating that Hong Kong holds a unique position within international financial markets and sees opportunities for growth. As companies continue their globalization efforts, he believes that the Hong Kong Stock Exchange will serve as the primary entry point for many businesses looking to expand overseas. Noah continues to gain deeper insights into client needs for international expansion and is making ongoing investments into its Hong Kong operations to support this. Noah has assembled a diverse team of international experts and is leveraging its CCI office to provide integrated solutions, creatively designing service scenarios to support clients as they expand overseas.
Mr. Zander Yin, Co-founder and CEO of Noah Holdings
Noah’s Hong Kong Foundation, established in 2014 by Tung Chee-hwa, former Chief Executive of Hong Kong and Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference, is an influential think tank in Hong Kong. Dr Jane Lee, President of Hong Kong Foundation, delivered a keynote speech titled "The Power of Education and Philanthropy in Hong Kong," in which she outlined the foundation’s strategic direction, goals, and achievements over the past decade. She specifically highlighted charitable and educational initiatives in Hong Kong, which have garnered considerable recognition.
Dr. Jane Lee, President of Our Hong Kong Foundation
Global Markets and Asset Allocation
Identifying Global Growth Opportunities
In an interconnected global economy where every policy announcement, geopolitical fluctuation, or election outcome can significantly impacts markets and asset allocation strategies, identifying growth opportunities is crucial.
During thematic discussions at the roundtable on "Global Market Hot Topics and Growth Opportunities in Asset Allocation," Zander Yin and Grant Pan engaged with representatives from leading institutions on topics such as "The Profound Impact and Sustainability of Chinese Government Policy," "New Strategies for Global Asset Allocation Amid Geopolitical Tensions," and "The Potential Impact of U.S. Policies on Markets Following the Election." They provided valuable insights on how current global conditions and policy changes affect financial markets while offering guidance on adjusting investment strategies for safe growth amid complex market environments.
Corporate Overseas Expansion Strategies
Confronting Global Capital Management Challenges
Corporate overseas expansion has become essential for driving economic growth. By going global, companies are building global supply chains, optimizing resource allocation, reducing costs, and improving efficiency. In recent years, governments have introduced a supportive policies for corporate overseas expansion including tax incentives, financial support, and easier access to financing. These policies provide strong support for businesses venturing abroad, lowering associated risks and costs. However, companies also face numerous challenges in global capital management when expanding overseas, primarily from exchange rate risks and liquidity management concerns.
During discussions on corporate overseas expansion strategies and global capital management challenges at this roundtable event, Mr. Liang Hanjing, Global President of Invest HK (Hong Kong’s Government Department responsible for Foreign Direct Investment); Mr. Zhang Haifeng, CEO of Lianlian International Southeast Asia; Mr. Tan Wenkang, CFO of Jingtai Technology; Mr. Cai Lie, CFO of Peijia Medical; and Mr. He Gang, Editor-in-Chief of Caijing Magazine and Chinese Edition of Barron's, shared insights into the global capital challenges, geopolitical risks, and market fluctuations faced by companies expanding abroad. They discussed how to effectively leverage Hong Kong's role as a super connector and financial center, offering valuable ideas for businesses to maintain competitiveness in a complex and ever-changing international environment. They also expressed confidence that the core strength and innovative spirit of Chinese companies will continue to improve their competitiveness overseas, creating even more growth opportunities.
Corporate Capital Management
Cash Flow is Vital for Businesses
In a global economy, corporate capital management faces unprecedented challenges and opportunities. Cash flow is vital for businesses. Effectively cash flow management is essential for survival in the current economic environment and serves as the foundation for a stable, long-term, sustainable development. To avoid a passive approach to capital management, companies should adopt proactive strategies to enhance the efficiency and effectiveness of fund utilization while also mitigating and controlling risks.
During the "How to Avoid Passivity in Corporate Capital Management Amid Global Waves" roundtable discussion, Ms. Yan Huiping, CFO of ZTO Express; Mr. Liu Xiyuan, CFO of Xinyi Glass; Mr. Xu Jiayuan, CFO of Xinyi Technology; Mr. Zhou Keke, CEO of iARK; and Ms. Lu Ling, Assistant Editor of Caijing Magazine and Director of the Hong Kong Research Center for Financial Reading, explored how capital management should align with corporate strategies when expanding overseas and how professional institutions can support corporate capital management. Leveraging their unique insights from various industries, they shared valuable practical experience and insights. Additionally, they collectively looked ahead to the new challenges and opportunities presented by globalization, collaborating to explore new pathways for corporate global development.
Capital Markets
ROE and Market Value Management
Overseas markets provide listed companies with vast opportunities for capital deployment. For these companies, market value management, ROE, and equity disposal are critical issues. How can they ensure that their strategies are strategic, legal, and effective?
During a roundtable discussion, Ms. Zhou Bo, Partner in KPMG Private Enterprise; Ms. Li Haiping, co-head of the Skadden's China practice; Mr. Miao Guili, CFO of Sihuan Pharmaceutical Holdings Group Ltd.; Mr. Chen Fei, CFO of Yaoshibang; and Mr. Wu Jun, Deputy CFO of Noah Holdings, offered valuable insights and strategic recommendations on enhancing ROE and managing corporate market value from a tax, legal, and financial perspective.
These roundtable discussions not only provided strategic insights into topics such as Hong Kong's strengths, global markets, corporate overseas expansion, capital management, and capital markets, they also offered investors a comprehensive view of the industry. Most participants agreed that in the future, they will leverage Hong Kong's unique advantages to collaboratively promote internationalization, global expansion, and stable long-term corporate operations.
Noah will continue to collaborate with Barron's through a series of roundtable discussions featuring CFOs of listed companies, delving into various topics to genuinely share practical insights and takeaways. This initiative aims to assist CFOs and capital managers in examining issues from multiple perspectives, gaining new ideas and solutions.
