Overview

• ALMAD will focus on digital assets and transformative industries across entertainment, sports, media, healthcare, commercial management, and cultural tourism in mainland China, ASEAN, and the Middle East.
• Cheng serves as founder and executive chairman, positioning the Hong Kong–based firm to, in his words, build what the next generation needs.
• The company plans to explore real-world asset tokenisation, blockchain-related technologies, and immersive digital experiences, according to its statement.
• ALMAD will globalise Cheng’s K11 by AC brand, with the Anime IP business already expanding in mainland China and the Middle East.
• The move follows his 2024 departure from New World Development, a broader retreat from family businesses, and a track record of early investments in Xiaohongshu, XPeng, and Micro Connect.