Hong Kong-listed property firms give over US$2 billion to charitable causes, topping list of donors
- China Evergrande Group was the biggest donor last year, handing out HK$4.3 billion, some 5.7 per cent of its annual profit, according to a study by Sodata Analytics Foundation Association
Property and financial companies have topped the list of donors among Hong Kong-listed firms for a second straight year, according to a study by Sodata Analytics Foundation Association.
Property firms, led by mainland China-based developers, donated around HK$8.1 billion (US$1.03 billion) in 2018 and 2017 respectively, followed by financial firms’ HK$3.6 billion in each of the past two years, based on disclosures in their annual reports.
The average donation of the 220-odd real estate firms was HK$34.2 million each in 2018 versus HK$20 million for financial companies, according to the non-government organisation, which has been tracking listed firms’ donations since 2013.
The association’s Sodata index, tracking 100 firms that scored the highest on donations amount, growth rate and continuity, has gained 7 per cent since its debut on June 2, 2015 – outperforming the Hang Seng Index’s 5.5 per cent decline.
“Over the past three years, the highest ranked 100 firms showed higher returns [for investors] and lower [share price] volatility,” said the association’s founder Michael Yip, who is also chief financial officer of Rising Glory Finance.
