Core Viewpoint - FWD Group's successful listing on the Hong Kong Stock Exchange marks a significant milestone in its development and injects new vitality into the Hong Kong capital market [1] Group 1: Listing Details - FWD Group's IPO price was set at HKD 38 per share, achieving a total market capitalization of HKD 48.044 billion at opening [3] - The public offering was oversubscribed by 37 times, indicating strong market demand, with key cornerstone investors including Mubadala Capital from Abu Dhabi and T&D Holdings from Japan [3] Group 2: Growth and Expansion - FWD Group's growth has been driven by bold acquisitions and strategic positioning, including a USD 2.14 billion acquisition of ING's insurance business in Hong Kong, Macau, and Thailand in 2013 [3] - The company expanded its footprint from 3 markets to 10, covering Hong Kong, Macau, Japan, and several Southeast Asian countries, serving over 30 million customers [3] Group 3: Financial Performance - In 2024, FWD Group reported an annualized new premium of USD 1.916 billion, a 5.2-fold increase from 2014, with Southeast Asia contributing over 50% of new business value [4] - The company achieved a net profit of USD 24 million in 2024, reversing previous losses, and operating profit grew by 28.6% to USD 463 million [4] - Despite growth, the company faced debt pressure, with a debt ratio of 87.31% at the end of 2024 [4] Group 4: Listing Journey - FWD Group's path to listing faced challenges, including an unsuccessful attempt to list in the U.S. in 2021 and three failed attempts to list on the Hong Kong Stock Exchange [4] - The company successfully passed the hearing in just 27 days and completed the offering in 10 days, marking a significant achievement for its future in the insurance sector [4]