DOCSLIB.ORG

2019 Semi-Annual Report August 2019

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2019 Semi-Annual Report August 2019 1 S.F. Holding Co., Ltd. 2019 Semi-Annual Report S.F. Holding Co., Ltd. 2019 Semi-Annual Report August 2019 2 S.F. Holding Co., Ltd. 2019 Semi-Annual Report Notice The Company prepared its 2019 Semi-Annual Report in accordance with relevant regulations and guidelines set forth by the China Securities Regulatory Commission and the Shenzhen Stock Exchange, including the “Publicly Listed Company Information Disclosure Content and Format Guideline No. 3 Semi-Annual Report Content and Format,” the “Shenzhen Stock Exchange Listing Rules,” the “Shenzhen Stock Exchange Standard Operating Guidelines for Small and Medium Enterprises,” and the “Small and Medium Enterprise Information Disclosure Memorandum No. 2 – Matters Related to Periodic Disclosures.” The Company's 2019 Semi-Annual Report was prepared and published in Chinese and the English version is for reference only. Should there be inconsistency between the Chinese version and the English version, the Chinese version shall prevail. Investors can access the Company's 2019 Semi-Annual Report on Cninfo (www.cninfo.com.cn), which is designated by the China Securities Regulatory Commission for Publishing the Semi-Annual Report. 3 S.F. Holding Co., Ltd. 2019 Semi-Annual Report Chapter 1 Important Information, Table of Contents, and Definitions The Company's Board of Directors, Supervisory Committee, directors, supervisors, and senior management hereby guarantee that the contents of the Semi-Annual Report are true, accurate, and complete, and that there are no misrepresentations, misleading statements, or material omissions, and shall assume individual and joint legal liabilities. Wang Wei, the Company's responsible person, NG Wai Ting, the person in charge of accounting work, and Wang Lixiu, the person in charge of the accounting department (accounting officer), hereby declare and warrant that the financial report within the Semi-Annual Report is true, accurate, and complete. All directors have attended the Board meeting approving the Semi-Annual Report. Forward-looking statements such as future development plans in this report do not constitute the Company's promise to investors. Investors are advised to invest rationally and to take into account possible investment risks. The Company is required to comply with the disclosure requirements presented in the Shenzhen Stock Exchange for Industrial Information Disclosure No.9 – Listed Companies Engaged in the Express Delivery Services Business. In this Semi-Annual Report, the Company details the possible risk factors and countermeasures that may occur in the future. For more information, refer to “Section X. Possible Risks and Countermeasures” in “Chapter 4. Management Discussion and Analysis of Business Operation.” Investors shall refer to this information. The Company does not plan to issue cash or equity dividends, nor to convert equity reserve into share capital of the Company. 4 S.F. Holding Co., Ltd. 2019 Semi-Annual Report Table of Contents Chapter 1 Important Information, Table of Contents, and Definitions ........................................ 4 Chapter 2 Company Profile and Key Financial Indicators ........................................................... 7 Chapter3 Business Overview .......................................................................................................... 10 Chapter4 Management Discussion and Analysis of Business Operation .................................... 43 Chapter 5 Significant Events .......................................................................................................... 77 Chapter 6 Share Changes & Shareholder Details ....................................................................... 102 Chapter 7 Preferred Shares .......................................................................................................... 107 Chapter 8 Directors, Supervisors and Senior Managers ............................................................ 108 Chapter 9 Corporate Bonds .......................................................................................................... 109 Chapter 10 Financial Statements .................................................................................................. 110 Chapter 11 List of Documents Available for Inspection ............................................................. 277 5 S.F. Holding Co., Ltd. 2019 Semi-Annual Report Definitions Term Description Reporting period January 1, 2019 to June 30, 2019 The same period of January 1, 2018 to June 30, 2018 previous year S.F. Holding Co., Ltd., formerly known as Maanshan Dingtai Rare Earth and New The Company, The listed Materials Co., Ltd. After completing a major asset restructuring (as defined below) in Company, SF Holding December 2016, it was officially renamed to S.F. Holding Co., Ltd. in February 2017. RMB Renminbi yuan Shenzhen Mingde Holding Development Co., Ltd., the controlling shareholder of S.F. Mingde Holding Holding Co., Ltd. Maanshan Dingtai Rare Earth and New Materials Co., Ltd., The predecessor of S.F. Dingtai New Materials Holding Co., Ltd., it was renamed to S.F. Holding Co., Ltd. in February 2017. Shenzhen S.F. Taisen Holding (Group) Co., Ltd., a subsidiary of S.F. Holding Co., Taisen Holding Ltd. Shunda Fengrun Ningbo Shunda Fengrun Investment Management Partnership (Limited Partnership) Jiaqiang Shunfeng Jiaqiang Shunfeng (Shenzhen) Equity Investment Partnership (Limited Partnership) Zhaoguang Investment Shenzhen Zhaoguang Investment Co., Ltd. Suzhou Industrial Park Oriza Shunfeng Equity Investment Company (Limited Oriza Shunfeng Partnership) Guyu Qiuchuang Suzhou Guyu Qiuchuang Equity Investment Partnership (Limited Partnership) Shunxin Fenghe Ningbo Shunxin Fenghe Investment Management Partnership (Limited Partnership) In December 2016, all assets and liabilities (exchange-out assets) of the Company's predecessor, Dingtai New Materials, was replaced with the equivalent 100% equity (exchange-in assets) of Taisen Holding held by all shareholders of Taisen Holding as Major asset restructuring of December 31, 2015. The difference between the exchange-in assets and the exchange-out assets was purchased by Dingtai New Materials, the Company's predecessor, from all shareholders of Taisen Holding, in the form of issuing shares. Shenzhen Mingde Holdings Development Co., Ltd., Ningbo Shunda Fengrun Investment Management Partnership (Limited Partnership), Jiaqiang Shunfeng (Shenzhen) Equity Investment Partnership (Limited Partnership), Shenzhen The restructuring Zhaoguang Investment Co., Ltd., Suzhou Industrial Park Oriza Shunfeng Equity counterparties Investment Company (Limited Partnership), Suzhou Guyu Qiuchuang Equity Investment Partnership (Limited Partnership), and Ningbo Shunxin Fenghe Investment Management Partnership (Limited Partnership) All assets and liabilities of the Company's predecessor, Dingtai New Materials, as of Exchange-out assets December 31, 2015. Exchange-in assets 100% equity of Taisen Holding as of December 31, 2015. 6 S.F. Holding Co., Ltd. 2019 Semi-Annual Report Chapter 2 Company Profile and Key Financial Indicators I. Company Profile Stock Abbreviation SF Holding Stock Code 002352 Listed Stock Exchange Shenzhen Stock Exchange Chinese Name of the Company 顺丰控股股份有限公司 Chinese Name Abbreviation of 顺丰控股 the Company English Name of the Company S.F. Holding Co., Ltd. English Name Abbreviation of the SF Holding Company Legal Representative of the Wang Wei Company II. Contacts and Contact Methods Board Secretary Securities Affairs Representative Name Gan Ling Zeng Jing Address Wanji Business Building, Xinzhou 11th Street, Wanji Business Building, Xinzhou 11th Street, Futian District, Shenzhen, Guangdong Province Futian District, Shenzhen, Guangdong Province Tel No. 0755-36395338 0755-36395338 Fax 0755-36646400 0755-36646400 Email [email protected] [email protected] III. Other Information 1. Corporate Contact Information Were there any changes to the Company's registered address, office address or postal code, company website, or to the email address during the reporting period? □ Yes √No There were no changes to the Company's registered address, office address or postal code, company website, nor email address during the reporting period. Refer to the Company's 2018 Annual report for details. 2. Information Disclosure and Location of Report Were there any changes to information disclosure and location during the reporting period? □ Yes √No There were no changes to the name of the newspaper designated for information disclosure, to the address of website designated by the China Securities Regulatory Commission for semi-annual report publication, nor to the storage location of company's Semi-Annual report during the reporting period. Refer to the Company's 2018 Annual report for details. 7 S.F. Holding Co., Ltd. 2019 Semi-Annual Report IV. Key Accounting Information and Financial Indicators Does the Company need to adjust its financial information retrospectively or restate its previous year accounting information? √Yes □No Rationale for retrospective adjustments or restatements Business combination involving enterprises under common control Increase/Decrease over The same period of previous year the same period of Current reporting previous year period Before After After restatements restatements restatements Revenue (RMB) 50,074,704,033.85 42,503,599,511.93 42,550,906,755.42 17.68% Net profit attributable to shareholders of 3,101,111,638.63 2,233,730,274.21 2,209,579,126.20 40.35% the parent company (RMB) Net profit after
Load more

Recommended publications
  • China's Logistics Capabilities for Expeditionary Operations
    China’s Logistics Capabilities for Expeditionary Operations The modular transfer system between a Type 054A frigate and a COSCO container ship during China’s first military-civil UNREP. Source: “重大突破！民船为海军水面舰艇实施干货补给 [Breakthrough! Civil Ships Implement Dry Cargo Supply for Naval Surface Ships],” Guancha, November 15, 2019 Primary author: Chad Peltier Supporting analysts: Tate Nurkin and Sean O’Connor Disclaimer: This research report was prepared at the request of the U.S.-China Economic and Security Review Commission to support its deliberations. Posting of the report to the Commission's website is intended to promote greater public understanding of the issues addressed by the Commission in its ongoing assessment of U.S.-China economic relations and their implications for U.S. security, as mandated by Public Law 106-398 and Public Law 113-291. However, it does not necessarily imply an endorsement by the Commission or any individual Commissioner of the views or conclusions expressed in this commissioned research report. 1 Contents Abbreviations .......................................................................................................................................................... 3 Executive Summary ............................................................................................................................................... 4 Methodology, Scope, and Study Limitations ........................................................................................................ 6 1. China’s Expeditionary Operations
    [Show full text]
  • 2020 Interim Results Presentation
    China Vanke Co., Ltd. 2020 Interim Results Presentation August 2020 Interim Results Summary Financial Overview Business Overview Key Priorities in 2020 H2 Interim Results Summary 2020 Interim Results Presentation 03/33 Results Summary ⚫ Net profit attributable to equity ⚫ Cash and cash ⚫ Contract sales amount ⚫ Revenue ⚫ Net gearing ratio shareholder of the Company equivalents RMB320.48 RMB146.35 RMB12.51 RMB194.29 27.0% billion billion billion billion +16.9% from the Remained at 5.1% 5.6% beginning of the year industry low level ⚫ Cash to interest-bearing ⚫ Contract amount of project ⚫ Property services ⚫ Occupancy rate of rental liabilities due within one year ⚫ Fortune Global 500 ratio sold but not yet booked revenue housing RMB695.33 RMB6.7 93.7% of mature 2.0 208th billion billion projects +3.7 percentage points from Enhanced coverage +14.2% from the beginning of the year 26.8% the beginning of the year 46 Interim Results Summary 2020 Interim Results Presentation 04/33 Business gradually recovers under the pandemic ⚫ Property development : Improved capacity for individual projects, 5 projects were shortlisted for China’s Top 50 Bestsellers; ⚫ Property services: Vanke Service incorporated the development of “urban management services” into its development strategy on the basis of “simultaneous development of the residential and commercial services”; the urban management services coverage has expanded to 7 cities; ⚫ Long-term rental housing : Occupancy rate gradually returned to the level before the pandemic; occupancy rate of mature projects increased by 3.7 percentage points ; ⚫ Retail property development and operation : The customer flow and revenue gradually recovered; area in operation up by 11% during the first half of the year; ⚫ Logistics and warehousing : Occupancy rate of stabilized high-standard warehouse projects rose back to 89%.
    [Show full text]
  • Corporate Social Responsibility White Paper
    2020 CEIBS CORPORATE SOCIAL RESPONSIBILITY WHITE PAPER FOREWORD The Covid-19 pandemic has brought mounting research teams, as well as alumni associations and com- uncertainties and complexities to the world economy. Our panies. The professors obtained the research presented globalized society faces the challenge of bringing the in the paper through the employment of detailed CSR virus under control while minimizing its impact on the parameters focused on business leaders, employee economy. Economic difficulties substantially heighten the behavior and their relationship to the external environ- urgency for a more equitable and sustainable society. ment. This granular and nuanced form of research is a powerful tool for guiding the healthy development of CSR. At the same time, there is an ever-pressing need to enrich and expand the CSR framework in the context of The five CEIBS alumni companies featured in the social and economic development. CEIBS has incorporat- white paper offer exceptional examples of aligning busi- ed CSR programs into teaching, research, and student/ ness practices with social needs. Their learning-based alumni activities since its inception. The international busi- future-proof business innovations are a powerful demon- ness school jointly founded by the Chinese government stration of how best to bring CSR to the forefront of busi- and the European Union has accelerated knowledge ness activities. These five firms all received the CSR creation and dissemination during the pandemic to sup- Award in April 2019 at the second CEIBS Alumni Corpo- port economic stability and business development. The rate Social Responsibility Award, organized by the CEIBS institution has also served as a key communication chan- Alumni Association.
    [Show full text]
  • China Oil & Gas Sector
    12 January 2017 Asia Pacific/Hong Kong Equity Research Energy China Oil & Gas Sector Research Analysts SECTOR FORECAST Horace Tse 852 2101 7379 [email protected] 2017: A year of second-phase recovery Jessie Xu 852 2101 7650 [email protected] Figure 1: Chinese Oils typically see expansion of multiples during upcycle (Rebased to 100) EV/EBITDA (x) 300 6.5 6.0 250 Oil price trend - 2016-17 vs 2009-11 5.5 +1STD: 5.3x 5.0 200 4.5 Avg: 4.2x 4.0 150 3.5 3.0 -1STD: 3.2x 100 2.5 CNOOC 2.0 50 1.5 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-16 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jul-16 Jan-17 Jul-17 Source: the BLOOMBERG PROFESSIONAL™ service, company data, Credit Suisse estimates ■ Accelerated oil market rebalancing post OPEC deal. We believe the OPEC cut effective from January, coupled with robust 1.5mb/d global oil demand growth, should induce 400mbs of inventory drawdown in 2017 and accelerate the global oil market rebalance. CS forecasts US$56/bbl Brent in 2017, with upside risk if OPEC adheres to the 32.5mb/d low-end output cut. Since the announcement of the OPEC deal, oil prices were up 22% and global peers have rallied 12%, but Chinese Oils, particularly CNOOC, have lagged. We expect a reversal of the underperformance trend. ■ Multiple catalysts ahead. (1) We think the market is too bearish on CNOOC’s production/reserves and its upcoming 2017 Strategy Preview could surprise on the upside.
    [Show full text]
  • Of the Chinese Bronze
    READ ONLY/NO DOWNLOAD Ar chaeolo gy of the Archaeology of the Chinese Bronze Age is a synthesis of recent Chinese archaeological work on the second millennium BCE—the period Ch associated with China’s first dynasties and East Asia’s first “states.” With a inese focus on early China’s great metropolitan centers in the Central Plains Archaeology and their hinterlands, this work attempts to contextualize them within Br their wider zones of interaction from the Yangtze to the edge of the onze of the Chinese Bronze Age Mongolian steppe, and from the Yellow Sea to the Tibetan plateau and the Gansu corridor. Analyzing the complexity of early Chinese culture Ag From Erlitou to Anyang history, and the variety and development of its urban formations, e Roderick Campbell explores East Asia’s divergent developmental paths and re-examines its deep past to contribute to a more nuanced understanding of China’s Early Bronze Age. Campbell On the front cover: Zun in the shape of a water buffalo, Huadong Tomb 54 ( image courtesy of the Chinese Academy of Social Sciences, Institute for Archaeology). MONOGRAPH 79 COTSEN INSTITUTE OF ARCHAEOLOGY PRESS Roderick B. Campbell READ ONLY/NO DOWNLOAD Archaeology of the Chinese Bronze Age From Erlitou to Anyang Roderick B. Campbell READ ONLY/NO DOWNLOAD Cotsen Institute of Archaeology Press Monographs Contributions in Field Research and Current Issues in Archaeological Method and Theory Monograph 78 Monograph 77 Monograph 76 Visions of Tiwanaku Advances in Titicaca Basin The Dead Tell Tales Alexei Vranich and Charles Archaeology–2 María Cecilia Lozada and Stanish (eds.) Alexei Vranich and Abigail R.
    [Show full text]
  • Where Was the Western Zhou Capital? a Capital City Has a Special Status in Every Country
    Maria Khayutina [email protected] Where Was the Western Zhou Capital? A capital city has a special status in every country. Normally, this is a political, economical, social center. Often it is a cultural and religious center as well. This is the place of governmental headquarters and of the residence of power-holding elite and professional administrative cadres. In the societies, where transportation means are not much developed, this is at the same time the place, where producers of the top quality goods for elite consumption live and work. A country is often identified with its capital city both by its inhabitants and the foreigners. Wherefore, it is hardly possible to talk about the history of a certain state without making clear, where was located its capital. The Chinese history contains many examples, when a ruling dynasty moved its capital due to defensive or other political reasons. Often this shift caused not only geographical reorganization of the territory, but also significant changes in power relations within the state, as well as between it and its neighbors. One of the first such shifts happened in 771 BC, when the heir apparent of the murdered King You 幽 could not push back invading 犬戎 Quanrong hordes from the nowadays western 陜西 Shaanxi province, but fled to the city of 成周 Chengzhou near modern 洛陽 Luoyang, where the royal court stayed until the fall of the 周 Zhou in the late III century BC. This event is usually perceived as a benchmark between the two epochs – the “Western” and “Eastern” Zhou respectively, distinctly distinguished one from another.
    [Show full text]
  • Summary of 2019 Interim Report of Ping an Bank Co., Ltd
    Security Code: 000001 Security name: Ping An Bank Notice No.: 2019-037 Code of preference shares: 140002 Short name of preference shares: PYY01 Code of convertible bonds: 127010 Short name of convertible bonds: PYZZ Summary of 2019 Interim Report of Ping An Bank Co., Ltd. I. Important notes 1. This summary of interim report is extracted from the full text of the interim report. Investors are advised to carefully read the complete interim report at the news media designated by the CSRC to have a comprehensive understanding of the business performance, financial position and future development plan of Ping An Bank Co., Ltd. (Hereinafter “Ping An Bank” or “the Bank”). 2. The board of directors (hereinafter referred to as the “Board”), the supervisory committee, the directors, the supervisors and senior management of the Bank guarantee the authenticity, accuracy and completeness of the contents of the Interim Report, in which there are no false representations, misleading statements or material omissions, and are severally and jointly liable for its contents. 3. The 26th meeting of the 10th session of the Board of the Bank deliberated the 2019 Interim Report together with its summary. The meeting required 13 directors to attend, and 13 directors attended the meeting. This Interim Report was approved unanimously at the meeting. 4. The 2019 Interim Financial Report prepared by the Bank was unaudited, but it has been reviewed by PricewaterhouseCoopers Zhong Tian LLP. Notification of non-standard audit opinions □Applicable √ Not applicable 5. Xie Yonglin (the Bank’s Chairman), Hu Yuefei (the President), Xiang Youzhi (the CFO）and Zhu Peiqing (the head of the Accounting Department) guarantee the authenticity, accuracy and completeness of the financial report contained in the 2019 Interim Report.
    [Show full text]
  • Laboratories Accredited by CNAS for Testing of Masks，Gloves，
    Laboratories Accredited by CNAS for Testing of Masks，Gloves， Medical Protective Clothing and Other Personal Protective Equipment Currently, the CNAS accreditation scopes for competence in testing masks, gloves, medical protective clothing and other personal protective equipment for the use of Epidemic prevention, cover both Chinese standards and some foreign standards such as those of EU and USA. To be highlighted, although there are differences between these standards, the main performance indicators of these standards are the same or similar. Therefore, the suitability of the standard shall be confirmed according to the purpose and requirements when choosing a testing laboratory and standard. Tables 1 – 4 list the laboratories accredited by CNAS as competent to test masks, gloves, medical protective clothing and other personal protective equipment. For the detailed accredited testing scopes of the listed laboratories, please visit https://las.cnas.org.cn/LAS_FQ/publish/externalQueryL1.jsp (in Chinese) or https://las.cnas.org.cn/LAS_FQ/publish/externalQueryL1En.jsp (in English). 1 Table 1： List of Laboratories Accredited by CNAS for Testing of Masks Updated on 29 April 2020 Contact Accreditation Scope Certificate Laboratories Name No. (Chinese & TEL E-Mail for Testing of Masks Note Number (Chinese & English) English) (Standards) GB 19083-2010 王克作 GB 2626-2006 湖北省纤维检验局 635001239@ 1 L0274 Wang 027-88700447 YY 0469-2011 Hubei Fiber Inspection Bureau qq.com Kezuo YY/T 0969-2013 GB/T 32610-2016 GB 19083-2010 GB 2626-2006 张志荣 zhangzhirong 佛山中纺联检验技术服务有限公司 YY 0469-2011 2 L1842 Zhang 0757-86855062 @fabricschina CNTAC Testing Service Co., Ltd. (Foshan) YY/T 0969-2013 Zhirong .com.cn GB/T 32610-2016 YY/T 0691-2008 上海市质量监督检验技术研究院 成嫣 [email protected] 3 L0128 Shanghai Institute of Quality Inspection and 021-54336137 GB 19083-2010 Cheng Yan n Technical Research 苑淑花 天津市纺织纤维检验所 [email protected] GB 19083-2010 4 L0914 Yuan 022-87551928 Tianjin Textile Fiber Inspection Institute om GB/T 32610-2016 Shuhua 2 Contact Accreditation Scope Certificate Laboratories Name No.
    [Show full text]
  • Oral History and Genealogy of the Yuan Shikai Family
    City University of New York (CUNY) CUNY Academic Works Publications and Research Baruch College 2014 Research and Documentation in the 21st Century: Oral History and Genealogy of the Yuan Shikai Family Sheau-yueh J. Chao CUNY Bernard M Baruch College How does access to this work benefit ou?y Let us know! More information about this work at: https://academicworks.cuny.edu/bb_pubs/11 Discover additional works at: https://academicworks.cuny.edu This work is made publicly available by the City University of New York (CUNY). Contact: [email protected] ISSN 1712-8358[Print] Cross-Cultural Communication ISSN 1923-6700[Online] Vol. 10, No. 4, 2014, pp. 5-17 www.cscanada.net DOI:10.3968/4870 www.cscanada.org Research and Documentation in the 21st Century: Oral History and Genealogy of the Yuan Shikai Family Sheau-yueh J. Chao[a],* [a]Professor and Librarian, Head, Cataloging,William and Anita Newman and social and political studies. The paper ends with Library, Baruch College, City University of New York, New York, USA. the library documentation, preservation, and research in *Corresponding author. the 21st century focusing on the importance of Chinese Surported by two grants from the Research Foundation of the City family history and genealogical research for jiapu 家谱. University of New York, the PSC-CUNY Grants in 2008 and 2012. A selected bibliography about the Yuan Shikai family is included at the end for further readings. Received 23 February 2014; accepted 29 May 2014 Published online 25 June 2014 Highlights ● History of Chinese Names and Genealogical Abstract Records The oral histories and genealogies have long been used ● Types of Chinese Names and their Meanings by historians, archaeologists, sociologists, ethnologists, ● Oral History and Genealogy of the Yuan Shikai and demographers in their investigation of past human Family behavior on social and historical evidences relating to ● Resource and Documentation on Chinese a lineage organization or a clan.
    [Show full text]
  • Value Partners Classic Equity Fund
    Value Partners Classic Equity Fund A Sub-Fund of Value Partners Ireland Fund ICAV A UCITS-Compliant Fund 1 NAV per unit : Class A USD - USD27.29 Fund size : USD285.1 million HHH Morningstar RatingTM* As at 31-12-2020 December 2020 • Value Partners Classic Equity Fund (The “Fund”) primarily invests in equity and equity-related securities listed on stock exchanges in markets in the Asia Pacific Region. • Investment in Asia Pacific region may be subject to higher risk than developed markets and hence subject to certain risks such as political, tax, economic, foreign exchange, liquidity and regulatory risks. • The Fund is also subject to concentration risk due to its concentration in Asia-Pacific region. The value of the Fund can be extremely volatile and could go down substantially within a short period of time. It is possible that the entire value of your investment could be lost. • The Fund may also invest in derivatives which can involve material risks, e.g. counterparty default risk, insolvency or liquidity risk, and may expose the Fund to significant losses. • You should not make investment decision on the basis of this material alone. Please read the prospectus for details and risk factors. Investment objective Geographical exposure by listing 3 The Fund aims to achieve long-term capital growth primarily through Hong Kong 38% investment in equity and equity related securities listed on stock Taiwan 16% exchanges within the Asia Pacific region. United States 16% China A-shares 14% Performance since launch H-shares 9% % Red Chips 3% 4
    [Show full text]
  • China 500 2019 the Annual Report on the Most Valuable and Strongest Chinese Brands March 2019 Contents
    China 500 2019 The annual report on the most valuable and strongest Chinese brands March 2019 Contents. Bridging the Gap 4 About Brand Finance 6 Get in Touch 6 Request Your Brand Value Report 7 Foreword 8 Executive Summary 10 Regional Analysis 16 Sector Reputation Analysis 18 Brand Finance China 500 (USD m) 20 Definitions 30 Brand Valuation Methodology 32 Market Research Methodology 33 Stakeholder Equity Measures 33 Consulting Services 34 Brand Evaluation Services 35 Communications Services 36 Brand Finance Network 38 Brand Finance China 500 March 2019 3 Bridging the Gap. were able to apply Flame & Dragon for supporters. These The combined imagery are only granted to of flames and dragons is companies deemed traditional and represents highly reputable by the the omnipotence of College of Arms. We the dragon. This style have found that the of dragon is used by usage of the Coat of the richest Dynasty in Arms is helpful in our Chinese history, the Song core Brand Finance Dynasty. business, particularly in the international market Circles where the implied status The earliest coins used is recognised, but also in China can be traced with regards to the back to the First Emperor Brand Finance Institute, Qinshihuangdi in the Brand Finance Forums, Qin Dynasty. The logo and Brand Exchange. of the World Heritage Committee is a Chinese All aspects of the full Qin coin. Brand Finance Coat of Arms have been Clouds specially created and Auspicious cloud patterns have meaning related have been circulated for to our ethos and more than 5,000 years philosophy. and are one of the most representative cultural Original version Bridge symbols of China.
    [Show full text]
  • The Zhou Dynasty Around 1046 BC, King Wu, the Leader of the Zhou
    The Zhou Dynasty Around 1046 BC, King Wu, the leader of the Zhou (Chou), a subject people living in the west of the Chinese kingdom, overthrew the last king of the Shang Dynasty. King Wu died shortly after this victory, but his family, the Ji, would rule China for the next few centuries. Their dynasty is known as the Zhou Dynasty. The Mandate of Heaven After overthrowing the Shang Dynasty, the Zhou propagated a new concept known as the Mandate of Heaven. The Mandate of Heaven became the ideological basis of Zhou rule, and an important part of Chinese political philosophy for many centuries. The Mandate of Heaven explained why the Zhou kings had authority to rule China and why they were justified in deposing the Shang dynasty. The Mandate held that there could only be one legitimate ruler of China at one time, and that such a king reigned with the approval of heaven. A king could, however, loose the approval of heaven, which would result in that king being overthrown. Since the Shang kings had become immoral—because of their excessive drinking, luxuriant living, and cruelty— they had lost heaven’s approval of their rule. Thus the Zhou rebellion, according to the idea, took place with the approval of heaven, because heaven had removed supreme power from the Shang and bestowed it upon the Zhou. Western Zhou After his death, King Wu was succeeded by his son Cheng, but power remained in the hands of a regent, the Duke of Zhou. The Duke of Zhou defeated rebellions and established the Zhou Dynasty firmly in power at their capital of Fenghao on the Wei River (near modern-day Xi’an) in western China.
    [Show full text]