MeiDong Auto Holding needed a reliable company secretary in Hong Kong.

As MeiDong Auto expanded its successful luxury car retail business right across China, it needed Acclime’s support to navigate the complexities of Hong Kong’s compliance regulations.

  • Client industry:
  • Services:
    Listed Company Secretary, Tax consulting and filing, Accounting, Immigration

MeiDong Auto is a well-established and fast-expanding auto distributor in China. From its wide selection of mid and luxury brands in its portfolio, to its extensive after-sales services, MeiDong is devoted to delivering the best car purchasing experience to customers with its one-stop premium solutions.

The challenge.

MeiDong is listed on the Hong Kong stock exchange (HKSE: 1268) and was looking for a reliable service provider to act as company secretary. However, MeiDong’s preference was to find a partner who went beyond the simple mechanics of rubber stamping and instead acted as a true business advisor in compliance matters.

Our proposal.

MeiDong engaged Acclime as its listed company secretary, and as Acclime became more engaged with MeiDong’s Hong Kong business we were able to advise on administration issues that could best be outsourced. Acclime became engaged as tax consultant at both group and company levels.

Our solution.

As Acclime developed its relationship with MeiDong the number of tasks entrusted to Acclime grew to include personal income tax filings, Working Visa application processing for executives, ESG reporting services right through to daily consulting on administration.

Acclime maintained a close working relationship with the MeiDong management team to make sure all tasks were carried out with upmost speed, certainty and confidentiality. As a result, Acclime were able to assist in managing investor relations in addition to providing core business services for accounting, tax and HR.

We were available for consulation 24/7 through WeChat, and MeiDong sought our advice and expertise on a variety of issues arising in company secretarial services, tax consulting with our CPAs, ESG consulting and visa services.

The result.

Acclime were not only engaged as Company Secretary but also became agent/service provider covering a range of MeiDong’s needs. Acclime supported MeiDong in maintaining top-tier Corporate Governance and Investor Relations along its path of expanding its business throughout China, together with Meidong’s quality automobile portfolio and services.

MeiDong’s Market Cap has surged almost 40 times from the point Acclime was appointed as Company Secretary; from approx. HKD 1.1 billion (HKD 0.9 per share) on 8 April 2016 to HKD 54.4 billion (HKD 43.7 per share) on 26 July 2021.

Acclime has excelled for the following reasons:

  • Acclime is a trustworthy/reliable partner with exceptional commitment to helping our clients achieve the best results
  • Acclime excels in corporate governance – a cornerstone in the management and growth of any solid business
  • Acclime is a seasoned and specialised firm of professionals, offering a one-stop solution with a wide range of services (Corporate Secretarial, Audit and Accounting, Tax Advisory, Legal Advisory (Compliance), Business Advisory, HR administration, etc.) delivered with a hands-on approach
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Saji Mathew, Acclime partner

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