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2024-10-14 06:32 ET - News Release

HONG KONG, Oct 14, 2024 - (ACN Newswire) - The HKUST-Sino One Million Dollar Entrepreneurship Competition (referred to as 'HKUST Entrepreneurship Competition') Hong Kong Regional Final has successfully concluded, and the 'GF Innovation Award' sponsored by GF Securities (000776.SZ; 1776.HK) was ultimately won by the Pest0 team. The Pest0 team is applying for a patent for their natural pest-repellent pellets, which have won high recognition from the judges for its eco-friendly, reusable, and safe features.

Group photo of Mr. Wu Xin , the Managing Director of GF Holdings (Hong Kong) Corporation Limited (third from left), and members of Pest0, winning team of the \x93GF Innovation Award\x94

Mr. Charles Lin, CEO of GF Holdings (Hong Kong) Corporation Limited, said, 'In the current landscape of global economic development, entrepreneurial spirit is like a lighthouse, illuminating the journey of innovation. Entrepreneurs are not only dream chasers but also shapers of the future. They act like catalysts, stimulating the innovation and vitality of the entire society, and building a business ecosystem full of infinite possibilities. Through One Million Dollar Entrepreneurship Competition, we witnessed the inheritance and promotion of such entrepreneurial spirit. GF Securities (Hong Kong) is willing to walk side by side with all entrepreneurs with dreams, writing a new chapter of high-quality innovative development together.'

As a leading national securities firm in the Guangdong-Hong Kong-Macao Greater Bay Area, GF Securities has always been committed to serving the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and enhancing its financial competitiveness. Hong Kong is located in the heart of the Guangdong-Hong Kong-Macao Greater Bay Area with a high degree of internationalization in its capital markets, providing a favorable growth environment for startups. In response to the emerging innovative and entrepreneurial new forces with a global vision in the Greater Bay Area, GF Securities has sponsored the 'HKUST Entrepreneurship Competition' for eight consecutive years since 2017, donating more than RMB1 million. With its own advantages, GF Securities actively promotes the younger generation rooted in Hong Kong and with a global outlook to devote themselves to entrepreneurial endeavours, and cultivates more outstanding entrepreneurs for the future in the Guangdong-Hong Kong-Macao Greater Bay Area with an eye on the international market.

Up to now, the 'HKUST Entrepreneurship Competition' has been successfully held for 14 years, expanding to five regions including Beijing, Guangzhou, Shenzhen, Foshan and Hong Kong. It has identified and nurtured many projects and teams with commercial prospects, including well-known enterprises such as DJI drones and Yunzhou unmanned surface vehicles. In 2024, the Competition has more than 300 participating teams from Hong Kong and around the world by adding the 'International Student Track', which invited teams from 15 countries and regions including Australia, Canada, Germany, India, Singapore, the United States and Vietnam, further enhancing its influence.

GF Securities, as the platinum sponsor of the HKUST Entrepreneurship Competition, participated and offered full support throughout the event. In addition to establishing GF Innovation award, GF Securities also leveraged its professional advantages in the capital market to provide professional guidance and support for college entrepreneurs. GF Securities appointed experienced investors as judges to engage in face-to-face exchanges with participating student teams, facilitating the progress of the HKUST Entrepreneurship Competition in good order.

Over the years, the 'GF Innovation Award' has achieved remarkable performance, with innovative projects covering emerging fields such as Fintech, biology, IoT, new energy, and healthcare, where unicorn companies have been continuously emerging in recent years. It's represented by the Allegrow Biotech team established in 2023 and its three co-founders, namely Dr. Laurence Lau, Dr. Melody Chung, and Prof. Chau Ying, all coming from the Department of Chemical and Biological Engineering, the Hong Kong University of Science and Technology. Dr. Laurence Lau said: 'We hope to show the innovative immune cell manufacturing technology of Allegrow through the Competition. Meanwhile, the cash awards and investment opportunities provided by the Competition are also of great help to the company's further development and expansion, contributing to the commercialization plan of our products.'

At present, with the support of cash awards provided by GF Securities and the Competition, the Allegrow team has steadily developed three products to meet the needs of different immune cell therapeutics manufacturing. For the future, Dr. Laurence Lau said that the team will continue to optimize AimGel technology, diversify manufacturing applications for different targeted immune cells, expand a broader market, and assist innovative biopharmaceutical companies in conducting batch immune cell manufacturing more efficiently and conveniently. It is expected that products reaching GMP level will be launched in 2026 to embark on a new stage.

In mainland China, GF Securities has initiated the Small-scale Start-up Support for University Students of GF Securities for 10 consecutive years, with a cumulative investment of more than RMB20 million in financial support, has issued RMB9.7 million in support for 470 outstanding entrepreneurship projects, and has engaged more than 300 startup mentors for more than 60 universities to carry out a series of entrepreneurship activities. These activities not only provide valuable support and guidance to university students but also effectively promote the integration of industry-university-research, as well as the cultivation of innovative and entrepreneurial talents.

In addition, GF Securities has also made great efforts in the field of social responsibility. GF Securities Social Charity Foundation, jointly initiated by GF Securities, GF Fund, GF Futures, and GF Xinde in 2011, is the first foundation with a securities firm as the main initiator and has received the highest 5A rating in social organization evaluation in China. For over ten years, the foundation has carried out a series of influential social welfare projects focusing on rural revitalization, educational assistance, financial empowerment, and medical assistance. As of now, GF Securities Social Charity Foundation has donated nearly RMB300 million in total.

Looking ahead, GF Securities will continue to uphold its welfare concept of 'Gathering the Love from the Bottom of Heart', actively fulfill social responsibilities, and strive to promote the vigorous development of youth innovation and entrepreneurship at home and abroad, contributing its strength to the prosperity and development of the Greater Bay Area and society as a whole.

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