Government-owned Hong Kong Investment Corporation (HKIC) reported an investment income of nearly HK$2.35 billion ($301.9 million) for 2024, while deploying less than one-fifth of its initial capital of HK$62 billion (almost $8 billion).
In its annual financial report released on Thursday, HKIC posted operating expenses of HK$93 million ($11.9 million) for the year that ended on December 31, 2024, resulting in an operating profit of more than HK$2.25 billion ($289.1 million), in what were considered impressive annual results for an investment company that was established less than two years earlier.
“HKIC is the patient capital investment arm of the government with a dual mandate to enhance the economic vitality and long-term competitiveness of Hong Kong, while seeking financial return,” said Hong Kong Financial Secretary Paul Chan Mo-po, who is also the chairman of the HKIC.
HKIC, established in October 2022, has invested in over 150 projects, of which two companies are already listed in Hong Kong, and more than 10 companies have either submitted or plan to submit their listing applications in Hong Kong this year, according to its annual financial report.
HKIC has focused heavily on the hard-core tech sector, which accounted for 71% of its deployed capital as of December 31, 2024. Biotech took up about 13%, followed by 11% of capital invested in new energy and green tech.
Since its inception, the Hong Kong government’s investment arm has been proactively seeking strategic partnerships locally and internationally. For every HK$1 that the HKIC has invested, it has managed to draw in over HK$6 of capital from investor partners, the firm highlighted in its financial report.
Clara Chan, CEO of HKIC, said the creation of the HKIC ecosystem has “brought together resources and wisdom of both the public and private sectors in and beyond Hong Kong to drive the transformation, reshaping, and re-definition of new competitive edges of Hong Kong’s industrial, economic, and financial developments.”
Moving forward, HKIC will continue to expand its strategic positioning and deepen collaboration with investment partners, said Chan. “On the basis of the foundation built in 2024, the HKIC has further deepened and advanced our work in 2025, including injecting additional capital as planned to companies that met development and performance targets, such as leading their new financing rounds, to support them to seize market opportunities and ‘go global’.”
