Meta Media names Adrian Cheng as new co-chairman

China’s Meta Media has appointed New World Development’s CEO and K11 Group’s founder Adrian Cheng Chi Kong (pictured) as new co-chairman and non-executive director of the company’s board with effect from 16 February 2023.

According to the official statement, Cheng’s visionary approach and thinking towards retail, art, media, design and fashion will fast-track Modern Media’s business expansion and international reputation. Working in partnership with senior management, Cheng will identify new growth opportunities for the Modern Media business in China and globally.

The initial term of appointment for Cheng is three years from 16 February 2023. He is subject to re-election at the first annual general meeting of the shareholders of the company after his appointment as director and retirement by rotation and re-election in accordance with the articles of association of the company, according to a document on HKEX.

Cheng said: "I believe we have an invaluable opportunity to create and build something important both for China and internationally with Meta Media. Meta Media’s progressive thinking, compelling content and creative people have made the company a trailblazer in China’s print, digital and now metaverse space. We share the same vision. I am passionate in promoting Chinese contemporary art that transcends Greater China and ultimately creates a lasting impression on a global scale.”

“We must constantly seek the ideal relationship between culture, art and business. This will be vital for our future to ensure we authentically communicate, resonate and engage with all our audiences. I am looking forward to doing great work with the Meta Media team as we chart a deeper reach and influence in China, Asia-Pacific and the world," he added.

As NWD’s CEO, Cheng has launched New World’s The Artisanal Movement since January 2015, and is currently overseeing the New World’s large-scale developments including Victoria Dockside in Tsim Sha Tsui and Hong Kong International Airport SKYCITY complex “11 SKIES”.

In 2008, Cheng launched the K11 brand, a museum-retail complex that is at the nexus of art and commerce and has since extended K11’s reach across retail, hospitality, offices and non-profit art education through K11 Art Foundation and K11 Craft & Guild Foundation. He also directs early-stage funding to start-ups and technology-driven platforms.

"We are delighted to welcome Cheng as co-chairman of Meta Media,” said Thomas Shao, founder, chairman of the board and CEO. “Cheng is a retail visionary and business leader who constantly reimagines how commerce, community, art and innovation can intersect and positively impact societies. Renowned for his pioneering work in cultural commerce, he is redefining what Chinese culture means both domestically and internationally. A worldwide philanthropist, Cheng is driven by making a difference to the lives of many. His mission is to inspire the next generation to build a better future.”

Meanwhile, Shao Zhong has been re-designated from the chairman of the board to a co-chairman of the board. Shao will also continue to serve as an executive director and CEO of the Company.

Following the re-designation, Shao will jointly provide leadership to and oversee the management of the board with Cheng, and focus even more on overall corporate strategies, policy-formulating, instilling corporate philosophy as well as strategic planning, development and expansion of the Group’s new media businesses. Shao and Cheng will jointly undertake and perform the roles of the co-chairman of the board for the purposes of the Corporate Governance Code and Listing Rules.

Additionally, Meta Media has announced a partnership with the ChatGPT-like bot called ERNIE Bot developed by Chinese search giant Baidu.Meta Media’s subsidiary media business will apply Baidu's AI technology in the field of business information app, including Shangzhou APP, Green Gold, CITYLAB, Markets, and Wealth.

Since its establishment in 1993, Meta Media (formerly known as Modern Media) has established itself as China’s digital creative platform, notably acquiring the globally influential, London-based ArtReview and the ArtPower100 List in June 2019. Meta Media also owns the international youth creative and cultural short video platform NOWNESS, as well as the exclusive Chinese intellectual property of world-renowned media brands, including Art News, InStyle and IDEAT. Modern Weekly, the Bloomberg Chinese app and Metaverse assets including the virtual platform Meta City in partnership with Baidu are also part of the Group’s growing portfolio.

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