Opening Speech at Chinney Group Annual Dinner 2024
Opening Speech at Chinney Group Annual Dinner 2024
Fellow Board members, distinguished guests, colleagues
Ladies and gentlemen, Good evening,
On behalf of the Board members of Hon Kwok Land, Chinney Investment, the Chinney Alliance Group, and Chinney Kin Wing Holdings, our Directors and senior managers, and on behalf of the Wong family: Thank you for joining the Chinney Group’s 49th Anniversary Annual Dinner. It is our great pleasure to welcome you all. I hope you will enjoy this pleasant and entertaining evening, and of course, the fantastic dinner.

I know that I stand between you and the food, so I will try to be brief. As is traditional, I will describe the way we see the world, and then I’ll introduce a few things that we are working on.
First of all, some good news: Despite two major wars, the Global Hunger Index fell to 18.3, the lowest rate in this century. Renewable energy became “unstoppable”, Medicine entered a Golden Age, AI entered the mainstream with ChatGPT.
As we look forward to our 50th Anniversary, it’s my great honor to serve as the Chairman of the Chinney Group. Forgive me for being obvious when I say that 2024 is going to be an interesting year. While I prefer tradition, this year we will need to adapt to fast changing market conditions driven by events in China and the US.
The Chinese economy is recovering slowly as it transitions out of its previous “property first” policy. Big property players will continue to deleverage, while financials institutions will respond by tightening controls. The government is working to minimize the impact on the rest of the economy (like us) with stimulus measures. Let’s give time for things to play out.

The US, on the other hand, will suffer through the chaos of an election year featuring Donald Trump: a grifter who is no friend of China or Hong Kong. Their year will feature deadlock, partisan infighting, and will probably sadly demonstrate the worst of democratic traditions. Biden may defy Iran and find peace in the Middle East, but it will bungle the war in the Ukraine. Economically, the Fed has so far managed a soft landing, but it won’t take much to tip the equilibrium into a recession. Interest rates are likely to remain higher for longer than the market would like. And because of ongoing tariffs, China will not be able to export its deflation to the US to relieve upwards price pressure from energy, food, and borrowing costs.
Hong Kong is our home. 2023 saw the first year of rebuilding since the troubles of 2019. By HK Airport numbers, we are at best 70% back. And unfortunately, we will continue to be squeezed by high interest rates from the US as well as depressed economic activity on the mainland.
In fact, our industry remains under stress. While we are not immune to market forces, fortunately, our fundamentals remain strong. The Chinney Group is keeping pace with improvements in PropTech, ESG, green and sustainable finance, next generation transportation, MIC, and digital transformation.

During 2023, externally, we bought six hotels in Japan, launched our Beijing Road project in Guangzhou and completed over 100 construction contracts. Our flying car company is the first company to be certified by the FAA. Internally, we updated our management practices with town halls and high-level retreats bringing together emerging senior managers and our independent non-executive directors. We promoted next generation managers in our foundation and real estate divisions as respected elders retired.
In 2024, we prepare to emerge from the survival mindset of the previous five years and look forward to finding new avenues of growth. Our strategy for next year is still to look widely, but tread carefully. We will look deeply into promising markets for generational opportunities. But we will commit very carefully. And with your support, we will be ready to take advantage when the pendulum swings back to economic growth again.
Looking forward: We will celebrate the 50th Anniversary of the incorporation of the Chinney Group in Hong Kong in 2025. And according to family folklore, the 100th Anniversary of the founding of the Chinney Group in Nanjing by my grandfather and his brothers. Our company runs on the principles propounded by our founder, my father Dr. James Wong: Truth, Fairness, and Freedom.

To conclude, I would like to express my gratitude to our colleagues for their hard work and contributions to both our innovative and resilient work culture. I also wish to express my sincere thanks to our stakeholders and business partners, we will continue to be good partners and hope to count on your support for new projects and initiatives.
Last but not least, I wish you all a healthy and prosperous Year of the Dragon. Thank you.
Press release on HKPTA

Press release on HKPTA
James Wong appointed as President of HKPTA: pioneering a new era of PropTech innovation in Hong Kong
The Hong Kong PropTech Association (HKPTA) is pleased to announce the appointment of Mr. James Wong as its new President, taking office on March 31, 2024. With over 30 years of experience in business, law, information systems and engineering, Mr. Wong’s extensive background provides a solid foundation to lead the HKPTA into a new era of growth.
Mr. Wong is currently the Chairman of the Chinney Group, oversees the Group’s four listed companies – Chinney Hon Kwok, Chinney Investments, Chinney Alliance and Chinney Kin Wing, which have made their mark in the construction, engineering and property investment sectors. Mr. Wong has extensive experience managing landmark projects such as the 80-storey Hon Kwok Tower in Shenzhen and operating the largest data centre in Hong Kong to installing the air traffic control radar at the Hong Kong Airport.
“James’ diverse expertise and deep insights into the real estate, construction and technology sectors make him an invaluable leader for our association,” said Vivian Chan, the Founding President of the HKPTA. “We are confident that his leadership will prove instrumental in fostering a vibrant PropTech ecosystem in Hong Kong.”
Before joining the family business, Mr. Wong’s career included roles as a lawyer in Toyota’s eDiscovery team, a tax lawyer at Baker & McKenzie and Price Waterhouse Coopers, and the treasurer of the Association of Corporate Counsel.
His commitment to Lifelong Learning is evidenced by his academic credentials, which include a Juris Doctor from the University of California College of the Law, San Francisco, and a master’s degree in information systems engineering from the Florida Institute of Technology. In addition, Mr. Wong is a member of the California Bar, a licensed California Real Estate Broker, a LEED Green Associate and a WELL AP.
“I am excited to begin this journey as President of the HKPTA and to work with our members to shape the future of the PropTech ecosystem in Hong Kong. Together, we aim to spark innovation, foster collaboration and harness the transformative power of PropTech,” he says.
Mr. Wong further elaborated on his approach during the recent HKPTA PropTech Excellence Awards 2024 ceremony, expressing his gratitude and highlighting his ambition for the PropTech landscape:
“Reflecting on the journey of my family business since the 1970s, which now encompasses a wide range of activities from real estate to engineering, I’ve witnessed first-hand the changes and opportunities brought about by global trends such as digital transformation and sustainability.”
Despite this progress, he believes there is significant room for growth in adopting innovative technologies, often hampered by resource constraints and the uncertainty surrounding new technologies. This challenge underlines the essence of the HKPTA’s existence.
“My goal is for the HKPTA to serve as a broad platform that nurtures young talent in the technology and real estate sectors, fosters connections between experts, stakeholders and organisations passionate about PropTech, and ultimately contributes to Hong Kong’s development as a smart city.”
Commitment on ESG


Commitment on ESG
Hon Kwok Group values the sustainability of its business and strives to incorporate environmentally friendly elements into operations.
With this vision in mind, we have adopted various environmental protection initiatives and formulating policies in the areas of energy consumption, greenhouse gas (“GHG”) emissions, waste generation, water consumption and climate risks management to manage the Group’s operational footprint.
The renovation project of our Bauhinia Hotel / Serviced Apartment (Central) in Hong Kong is expected to be completed in 2024. We have implemented various energy efficiency and waste management measures during construction stage to reduce our environmental impact. A refresh of the building façade with the BIPV (Building Integrated Photovoltaics) technology will be applied to the building, and that will be the first full envelope BIPV project in Hong Kong. This can help to reduce a building’s carbon footprint and energy savings by generating solar electricity which could connect to the grid.
Aiming to promote green and sustainable building design with good air and water quality management, we also certify our properties with sustainable building standards. Our Shenzhen Hon Kwok Centre was accredited with the Leadership in Energy and Environmental Design (“LEED”) Gold certification and WELL Health-Safety Rating (“WELL HSR”); the Hon Kwok Building in Guangzhou was also accredited with LEED v4 Gold Certification. There were a total of 2 properties held for investment that acquired green building certificates at the end of the Reporting Year. In the near future, we targeted to increase the number of properties with green building and certifications.
Applying Building-Integrated Photovoltaics (“BIPV”) System at Bauhinia Hotel (Central)



Applying Building-Integrated Photovoltaics (“BIPV”) System at Bauhinia Hotel (Central)
During the Reporting Year, the Bauhinia Hotel/ Serviced Apartment (Central) underwent a major renovation and is scheduled to reopen by the end of 2024. Notably, the renovation project incorporated the innovative use of Building-Integrated Photovoltaic (BIPV) technology, integrating photovoltaic modules into the building envelope, including the roof and the façade.
This renovation project stands out as a pioneering initiative, being the first building in Hong Kong to adopt full envelope BIPV systems. These systems serve the dual purpose of functioning as the building envelope while also generating power. They not only generate solar power that can be seamlessly connected to the grid but also offer enhanced aesthetical flexibility. By blending harmoniously with the surrounding building envelope, they overcome the physical limitations of conventional PV modules.
Although the cost of BIPV façade systems for Bauhinia (Central) is 10-15% higher than that of conventional curtain wall systems, their implementation will result in the generation of approximately 24,000 kWh of electricity and an annual reduction of over 17 tonnes of carbon emissions upon completion. This upgrade has earned us the Green Council UNSDG Achievement Awards Hong Kong 2023 –Project Award.
Actively promoting PropTech within the industry

Actively promoting PropTech within the industry
The Group is also dedicated to the development of PropTech. During the Reporting Year, our Chairman assumed the role of President of The Hong Kong PropTech Association (“HKPTA”). As President, Mr. Wong will spearhead the innovation agenda within the property industry, promoting technology-enabled solutions.
Membership in HKPTA grants the Group access to pioneering ideas and experts who are actively pursuing PropTech solutions, thereby ensuring our sustained competitiveness in the industry.
Sponsoring MIPIM Asia Summit 2023


Sponsoring MIPIM Asia Summit 2023
Hon Kwok Land is the Silver Sponsor for MIPIM Asia 2023. The regional event gathers industry experts and professionals from all sectors in Hong Kong and the region to build partnerships, gain industry insight and discover the most outstanding projects through a world-class program dedicated to inbound and outbound property investment, regional development opportunities and retail real estate. Group Chairman James Wong was invited to join one of the panel “Meet the Chairman” to share his experience and insights to industry trends and outlook into audience.
Save the date!

Save the date!
Save the date! The Chinney 50 Golden Jubilee Celebration Gala Dinner will be held on Friday 24, January 2025. Mark your calendar and look forward to welcome you on the night!
1/4 Century of Achievements

1/4 Century of Achievements
Bauhinia Hotels Group Limited
The group established its first The Bauhinia Serviced Apartments in Central in 2000 after realizing as early as 25 years ago that the market demand for serviced apartments was rising. Because there weren’t many serviced apartments available at the time in the Central and Sheung Wan business districts, and because Bauhinia’s units came with incredibly comprehensive supporting amenities, the company swiftly established itself as the top option for extended stays for business travelers visiting Central and Sheung Wan.
Accumulate experience and expand into the hotel business
The group then focused on expanding its hotel business and opened The Bauhinia Hotel – Central, adjacent to The Bauhinia Serviced Apartments. It promoted the concept of a boutique hotel with a fashionable and elegant design, and offered tourists high-quality accommodation and hospitality services. Since the hotel is located in the Central Business District, it is logical that it is especially popular with business people. Between 2011 and 2021, “The Bauhinia Hotel – Central” was awarded the “Guest Rating Excellence Award” from Booking.com and Agoda.com for several consecutive years. It has also been recognized by the famous travel website TripAdvisor for many years and was awarded the “Excellence Award” quality certificate.
Exclusive Interview : Mr. James Wong, Chairman of Chinney Group

Exclusive Interview : Mr. James Wong, Chairman of Chinney Group
Hong Kong Based With A Global Perspective Chinney Leveraging Technology for Transformation and New Opportunities
“The success of Chinney Group is closely tied to the prosperity and development of Hong Kong. Regardless of our future growth and scale, Chinney has always been rooted in Hong Kong,” said Chairman of Chinney Group, Mr. James Wong Sai-wing (“Chairman James”). The Year 2025 marks the 50th anniversary of Chinney’s business start-up in Hong Kong. This coincides with the 100th anniversary of the Chinney brand created by his grandfather in Nanjing.
Chairman James’ father, Dr. James Wong Sai-wing, founded Chinney in Hong Kong in the 1970s. Through years of his and his colleague’s hard work, Chinney grew from a single business in construction into a diversified group covering construction, real estate, hospitality, engineering, foundation work, projects, and trade. Over the decades, Chinney has witnessed Hong Kong’s golden era in industry, finance, and real estate as well as opportunities arising from Mainland China’s economic reforms. The group has seized these opportunities by providing professional contracting high-quality engineering services to government and private enterprises, leading to significant growth. In recent years, the pandemic has prompted the company to diversify its investment and development strategy to mitigate risks. He emphasized, “Starting a business is challenging, but sustaining it is even more difficult. Hong Kong is both our home and starting point. Furthermore, Hong Kong is also a place worth investing in. Our business development shall continue here.”
Chairman James believes that Hong Kong still has its competitive edge – the “One Country, Two Systems” policy, the gateway to the world, common use of both Chinese and English languages, a talent pool with international perspective, and ample business leads in innovation and technology development. Hong Kong remains the premier location within Asia for brands to build their presence on the global stage. The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is one of the focal points for future development, and the group will continue to grow in the GBA. “Both Hong Kong and Shenzhen are Mainland China’s future economic growth engines, and Chinney aims to get on this fastrack.” Recently, Chinney Group has invested in Hong Kong, Macau, Shenzhen, Guangzhou, Foshan, Chongqing, and Shanghai. The Hon Kwok Commercial Centre in Shenzhen is known to be a landmark in the area. Together with the timely completion of the large commercial and residential project on Beijing Road in Guangzhou, these showcase the group’s confidence in the robust development of the Greater Bay Area and the domestic market of Mainland China.
Agility to invest in emerging industries
The success of Chinney Group lies in its commitment to its core business as well as its confidence in exploring new investment horizons. Chairman James recalls his grandfather’s unique philosophy on investment: “My grandfather Mr. Cha Chi-ming was a renowned industrialist. My father initially supported him on the textile business and later in his property development business. My grandfather had a foresight on market trends, a bold vision and a deep sense of belonging toward his country. This greatly enlightened my father. As early as the 1970s and 1980s, my father was in Nigeria for business, and our family often accompanied him on those trips. In the 1990s, there was a domestic real estate market boom in Mainland China and my father made decisive investments that yielded substantial returns. Two years ago, I noticed there was a significant influx of tourists during a Japan trip. I recognized the emerging trend in tourism to Japan and acted on it immediately. Consequently, over the last two years in 2023 and 2024, Chinney acquired six hotels in Osaka and Tokyo.” To remain resilient in a rapidly changing environment, Chairman James believes that it is essential not only to continue to innovate and add value to existing business but also to capture new industries and emerging opportunities.

Leveraging technology to facilitate transformation
“Five years ago, we began laying the groundwork for the low-altitude freight business in the Greater Bay Area. We then entered the drone and low-altitude vehicle sectors.” Chinney Alliance Engineering, Chinney’s subsidiary, has long been involved in the aviation communication equipment trade business and its related engineering projects in Hong Kong to leverage its strengths to tap into new market opportunities. “Recent years, digital transformation and artificial intelligence (AI) have profoundly impacted global business models. Countries prioritize sustainable development, which led to significant changes across industries.” Chairman James, who is the Chairman of the Urban Land Institute (ULI) – Greater Bay Area Committee and Chairman of Hong Kong PropTech Association (HKPTA) remains optimistic about the development of PropTech. He is dedicated to integrating technology into the Group’s core construction business, aiming to bring new energy to the industry. Chinney has recently integrated green energy-saving practices with construction technologies, such as installing photovoltaic integrated systems in hotel properties to promote sustainable development. Hence, creating eco-friendly and comfortable living space for travellers while reducing carbon emissions – win-win outcome in corporate social responsibility and economic benefits. “Chinney also values ‘hands-on’ technology, focussing on real estate and construction technology. We need to embrace these new trends to expand our horizons.”
Chinney has taken over Lot 495, Kin Chuen Street, Kwai Chung previously managed by Hon Kwok Land Investment and completed the project successfully through a one-stop comprehensive management, from design to construction of data centre that fully leveraged the group’s collaborative advantages. The team’s willingness to take on challenges sets itself apart from others: “The tougher the challenge, the more we are engaged.” This proactive attitude drives the group to further success. “Chinney is the first construction company in Hong Kong to take on a data centre project, accumulated eight years of experience. We were the first mover back then. No one had high hopes for the business back then VS everyone is eager to enter the market now.” Currently, the Group’s subsidiaries utilize various technologies to enhance productivity, including Building Information Modelling (BIM) and MiMEP (Mechanical and Electrical Equipment Integration). Chairman James also encourages employees to integrate AI technologies into procurement, supply chain management, design and contract management to improve efficiency, reduce costs and optimize resource allocation.
Inheritance of the Group's Management Philosophy
Chairman James had been a legal advisor for a Japanese firm in the United States. He admitted his experience as an ‘employee’ allows him to understand employees’ mentality and think from their perspectives. He then puts great emphasis on talent training and development. James believes good leaders should cultivate three key traits: stability, vision, and harmony. A stable workforce ensures the team is focused on its responsibilities; a clear vision helps employees to understand their contributions to the company, thus fostering a sense of purpose and achievement; and a harmonious work environment encourages employees to unleash their potential, enhancing overall team performance.
“People First” is not merely a slogan in the Group, it is built upon the daily support given to the employees. “We offer not only a stable work environment and a competitive remuneration but more importantly, great confidence to our employees about the future.” The management philosophy “Truth, Fairness, and Freedom” has guided the Group for years. Chairman James takes this as an invaluable intangible asset that facilitates wise decisions, earns trust from partners, perpetuates a strong corporate culture and steers the Group toward a brighter future. “We will uphold the Group’s core values and move forward with determination.”