Archive for February, 2012

Risks of a Company with Business Model that Relies Heavily on Forfeited Income from Prepaid Services or Products

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Different companies face different risks with the way they operate their business. In this article, I’m going to talk about my observations on the risks involved in a business model that relies significantly on forfeited income from prepaid services and products, and how you should assess the financial condition of a company with such a [...]

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Listing Requirements of the Growth Enterprise Market (GEM) of the Hong Kong Stock Exchange (HKEx)

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As you probably know, the Hong Kong Stock Exchange (HKEx or HKSE) has two trading boards on which shares of a company can be listed. The first trading board is the Main Board and the second trading board is the Growth Enterprise Market (GEM). Last time, I wrote about the listing requirements of the Main [...]

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Hong Kong Companies Annual General Meeting (AGM) Requirements under the Companies Ordinance

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This article summarizes the requirement of Hong Kong companies to hold annual general meeting (or AGM) under Hong Kong law – more specifically, section 111 of the Companies Ordinance (Chapter 32, Laws of Hong Kong). This requirement applies to companies that are incorporated in Hong Kong (whether listed companies or private companies) or companies that [...]

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Hong Kong Stock Exchange (HKEx) IPO initial listing fees and annual listing fees

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Of course it’s good to raise over US$200 million from an IPO on the Hong Kong Stock Exchange (HKEx).  But have you ever wondered how much it costs to list on the HKEx?  In this article, I’m going to tell you the listing fees that HKEx charges your company. The initial listing fee and annual [...]

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Financial Reporting (Half and Full Year) Disclosure and Reporting Compliance Requirements of Listed Companies on the Hong Kong Stock Exchange (HKEx)

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Listed companies on the Hong Kong Stock Exchange (HKEx) are subject to certain financial reporting and disclosure compliance requirements under the Hong Kong Listing Rules. This article sets out briefly what these requirements are. Distribution of annual report and accounts Preliminary Announcements of Results – Full Financial Year LR13.49(1): For annual accounting periods ending on [...]

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