DOCSLIB.ORG

1/44 09/01/2017 14:57:27

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
1/44 09/01/2017 14:57:27 Fund Price Calculation Dealing Date: 06 January 2017 Portfolio: BOCHK All Weather China High Yield Bond Fund CCY MARKET VALUE IN Ex.Rate MARKET VALUE IN % OF NAV ORIG. CURRENCY BASE CURRENCY TOTAL ASSET VALUE PER FAMEX REPORT Breakdown -Investments (Market value) 1,757,451,745.51 97.01% -Deposits 0.00 0.00% -Bank Balance 51,409,862.80 2.84% -Cash Accrual (Dividend receivable & unsettle) (8,014,703.10) -0.44% -Other liquidity 0.00 0.00% -Unrealised/realised P&L on FX 13,770,648.78 0.76% -Unrealised/realised P&L on Futures 0.00 0.00% Reversal of Fee Accrual Account 0.00 0.00% Accrued interest-Deposit 0.00 0.00% Accrued Interest-Bonds (Settle mode) 34,915,834.33 1.93% TOTAL FAMEX AMOUNT 1,849,533,388.32 102.10% LIQUIDITY Deposit in transit 0020-0000-01 CNY 0.00 1.0000000000 0.00 0.00% Subscription in transit 0020-0000-02 AUD 0.00 5.0010389811 0.00 0.00% Subscription in transit 0020-0000-02 CNY 2,920.00 1.0000000000 2,920.00 0.00% Subscription in transit 0020-0000-02 HKD 399,016.01 0.8831955849 352,409.18 0.02% Subscription in transit 0020-0000-02 USD 97,560.98 6.8498000015 668,273.20 0.04% Redemption in transit 0020-0000-03 CNY 0.00 1.0000000000 0.00 0.00% Switching in transit 0020-0000-04 CNY 0.00 1.0000000000 0.00 0.00% Prov for CD/bond int (unsettled trade) 3010-2000-01 CNY 0.001.0000000000 0.00 0.00% Prov for CD/bond int (unsettled trade) 3010-2000-01 USD (21,587.33) 6.8498000015 (147,868.89) (0.01%) Other account receivable 3010-2000-99 CNY 0.00 1.0000000000 0.00 0.00% Management fee rebate receivable 3010-3000-01 CNY 0.00 1.0000000000 0.00 0.00% Management fee rebate receivable 3010-3000-01 USD 2,892.45 6.8498000015 19,812.70 0.00% Trustee fee rebate receivable 3010-3000-02 CNY 0.00 1.0000000000 0.00 0.00% Preliminary expenses 3020-0000-01 CNY 0.00 1.0000000000 0.00 0.00% Prepay expenses 3020-0000-02 CNY 0.00 1.0000000000 0.00 0.00% Prepay licence fee 3020-0000-03 CNY 0.00 1.0000000000 0.00 0.00% Prepay publication fee 3020-0000-04 HKD 0.00 0.8831955849 0.00 0.00% Subscription pending for units issuance 4010-1000-01 AUD 0.00 5.0010389811 0.00 0.00% Subscription pending for units issuance 4010-1000-01 CNY 0.00 1.0000000000 0.00 0.00% Subscription pending for units issuance 4010-1000-01 HKD 0.00 0.8831955849 0.00 0.00% Subscription pending for units issuance 4010-1000-01 USD 0.00 6.8498000015 0.00 0.00% Redemption payable to unitholders 4010-2000-01 AUD (919,914.25) 5.0010389811 (4,600,527.02) (0.25%) Redemption payable to unitholders 4010-2000-01 CNY (6,764,767.68) 1.0000000000 (6,764,767.68) (0.37%) Redemption payable to unitholders 4010-2000-01 HKD (785,856.13) 0.8831955849 (694,064.66) (0.04%) Redemption payable to unitholders 4010-2000-01 USD (230,115.96) 6.8498000015 (1,576,248.30) (0.09%) Dividend payable to unitholders 4010-2010-01 AUD (64,937.75) 5.0010389811 (324,756.22) (0.02%) Dividend payable to unitholders 4010-2010-01 CNY (15,831,974.00) 1.0000000000 (15,831,974.00) (0.87%) Dividend payable to unitholders 4010-2010-01 HKD (4,442,341.97) 0.8831955849 (3,923,456.81) (0.22%) Dividend payable to unitholders 4010-2010-01 USD (414,920.68) 6.8498000015 (2,842,123.67) (0.16%) Other account payable 4010-4000-01 CNY 0.00 1.0000000000 0.00 0.00% Investment management fee payable 4010-3000-01 CNY (1,976,116.23) 1.0000000000 (1,976,116.23) (0.11%) Trustee fee payable 4010-3000-02 CNY (193,327.88) 1.0000000000 (193,327.88) (0.01%) Investment handling fee payable 4010-3000-03 CNY (6,320.00) 1.0000000000 (6,320.00) 0.00% Custodian fee payable 4010-3000-04 CNY 0.00 1.0000000000 0.00 0.00% Guarantor fee payable 4010-3000-05 CNY 0.00 1.0000000000 0.00 0.00% Audit fee payable 4010-3000-06 CNY (63,590.82) 1.0000000000 (63,590.82) 0.00% Audit fee payable 4010-3000-06 USD 0.00 6.8498000015 0.00 0.00% FEL / Secondary commission payable 4010-3000-07 AUD (193.55) 5.0010389811 (967.95) 0.00% FEL / Secondary commission payable 4010-3000-07 CNY 0.00 1.0000000000 0.00 0.00% FEL / Secondary commission payable 4010-3000-07 HKD (1,455.99) 0.8831955849 (1,285.92) 0.00% FEL / Secondary commission payable 4010-3000-07 USD 0.00 6.8498000015 0.00 0.00% Service fee Payable 4010-3000-08 CNY 0.00 1.0000000000 0.00 0.00% Registrar fee payable 4010-3000-09 CNY 0.00 1.0000000000 0.00 0.00% Administrator fee payable 4010-3000-17 CNY 0.00 1.0000000000 0.00 0.00% Director fee payable 4010-3000-19 CNY 0.00 1.0000000000 0.00 0.00% Other fee payable 4010-3000-99 CNY 0.00 1.0000000000 0.00 0.00% Out of pocket expenses payable 4010-4000-03 CNY 0.00 1.0000000000 0.00 0.00% Withholding tax payable 4010-5000-01 CNY 0.00 1.0000000000 0.00 0.00% LIQUIDITY SUBTOTAL (37,903,980.97) -2.09% GROSS ASSET VALUEBEFORE MANAGEMENT FEE, SERVICE FEE AND TRUSTEE FEE FOR THE DEALING DAY 1,811,629,407.35 100.00% Add back: Realized G/L due to FX Fwd (class level) 0.00 Add back: Reversed Unrealized G/L on FX Fwd (class level) of previous valuation day (1,178,295.38) Add back: Unrealized G/L on FX Fwd (class level) as of valuation day 795,994.25 GAV before fees (excluded class level FX Fwd) 1,811,247,106.22 Page 1 09/01/2017 14:57:27 1/44 Fund Price Calculation Dealing Date: 06 January 2017 Portfolio: BOCHK All Weather China High Yield Bond Fund INCOME/EXPENSES INCOME Deposit interest 7000-0000-01 AUD 0.00 0.00 Deposit interest 7000-0000-01 CNY 55,317.09 55,317.09 Deposit interest 7000-0000-01 HKD 453.10 396.64 Deposit interest 7000-0000-01 USD 467.94 3,190.26 Interest on interest bearing securities 7000-0000-02 CNY 34,913,334.63 34,913,334.63 Interest on interest bearing securities 7000-0000-02 USD 3,008,478.53 20,855,573.68 Dividend 7000-0000-03 USD 33,476.97 228,417.95 Amortization income 7000-1000-03 CNY 0.00 0.00 Management fee rebate 7010-1000-01 CNY 0.00 0.00 Management fee rebate 7010-1000-01 USD 5,615.11 37,978.48 Trustee fee rebate 7010-1000-02 CNY 0.00 0.00 Sundry income 7010-0000-01 CNY 0.00 0.00 56,094,208.73 Administrative Expenses Investment management fee 8000-0000-01 CNY (9,032,510.29) (9,032,510.29) Trustee fee 8000-0000-02 CNY (874,298.74) (874,298.74) Service fee 8000-0000-06 CNY 0.00 0.00 Custodian fee 8000-0000-04 CNY 0.00 0.00 Custodian fee 8000-0000-04 HKD (231,288.52) (202,629.31) Registrar fee 8000-0000-07 CNY 0.00 0.00 Director fee 8000-0000-15 CNY 0.00 0.00 Audit fee 8000-1000-01 CNY (63,590.82) (63,590.82) Fund set up fee 8000-1000-02 CNY 0.00 0.00 Legal & professional fee 8000-1000-03 HKD (13,090.00) (11,289.76) Legal & professional fee 8000-1000-03 USD (1,000.00) (6,905.40) Accounting fee 8000-1000-04 CNY 0.00 0.00 License fee 8000-1000-05 HKD 0.00 0.00 Bank charges 8000-2000-03 AUD (20.00) (103.42) Bank charges 8000-2000-03 CNY (1,019.06) (1,019.06) Bank charges 8000-2000-03 HKD (4,600.00) (4,019.66) Bank charges 8000-2000-03 USD (323.44) (2,179.87) Printing 8000-2000-04 CNY 0.00 0.00 Printing 8000-2000-04 HKD (41,700.00) (36,440.92) Postage 8000-2000-05 CNY 0.00 0.00 Publishing charges 8000-2000-06 CNY 0.00 0.00 Publishing charges 8000-2000-06 HKD (34,060.24) (29,739.92) Sundry expenses 8000-2000-99 CNY 0.00 0.00 Sundry expenses 8000-2000-99 USD (350.00) (2,416.89) Bank loan interest 8100-0000-01 CNY 0.00 0.00 Investment handling fee 8100-1000-01 CNY (77,505.00) (77,505.00) Broker commission 8100-1000-03 CNY 0.00 0.00 Other investment expenses 8100-1000-99 CNY 0.00 0.00 Withholding tax 8100-2000-01 USD (5,005.00) (33,410.88) Withholding tax - Dividend 8100-2100-11 CNY 0.00 0.00 (10,378,059.94) Income Equal. Subscription - Class A 6000-4100-01 CNY 0.00 0.00 Income equalization redemption - Class A 6000-4200-01 CNY 0.00 0.00 Income Equal. Subscription - Class B 6000-4100-02 CNY 0.00 0.00 Income equalization redemption - Class B 6000-4200-02 CNY 0.00 0.00 Income Equal.
Load more

Recommended publications
  • COVERAGE LIST GEO Group, Inc
    UNITED STATES: REIT/REOC cont’d. UNITED STATES: REIT/REOC cont’d. UNITED STATES: NON-TRADED REITS cont’d. COVERAGE LIST GEO Group, Inc. GEO Sabra Health Care REIT, Inc. SBRA KBS Strategic Opportunity REIT, Inc. Getty Realty Corp. GTY Saul Centers, Inc. BFS Landmark Apartment Trust, Inc. Gladstone Commercial Corporation GOOD Select Income REIT SIR Lightstone Value Plus Real Estate Investment Trust II, Inc. Gladstone Land Corporation LAND Senior Housing Properties Trust SNH Lightstone Value Plus Real Estate Investment Trust III, Inc. WINTER 2015/2016 • DEVELOPED & EMERGING MARKETS Global Healthcare REIT, Inc. GBCS Seritage Growth Properties SRG Lightstone Value Plus Real Estate Investment Trust, Inc. Global Net Lease, Inc. GNL Silver Bay Realty Trust Corp. SBY Moody National REIT I, Inc. Government Properties Income Trust GOV Simon Property Group, Inc. SPG Moody National REIT II, Inc. EUROPE | AFRICA | ASIA-PACIFIC | MIDDLE EAST | SOUTH AMERICA | NORTH AMERICA Gramercy Property Trust Inc. GPT SL Green Realty Corp. SLG MVP REIT, Inc. Gyrodyne, LLC GYRO SoTHERLY Hotels Inc. SOHO NetREIT, Inc. HCP, Inc. HCP Sovran Self Storage, Inc. SSS NorthStar Healthcare Income, Inc. UNITED KINGDOM cont’d. Healthcare Realty Trust Incorporated HR Spirit Realty Capital, Inc. SRC O’Donnell Strategic Industrial REIT, Inc. EUROPE Healthcare Trust of America, Inc. HTA St. Joe Company JOE Phillips Edison Grocery Center REIT I, Inc. GREECE: Athens Stock Exchange (ATH) AFI Development Plc AFRB Hersha Hospitality Trust HT STAG Industrial, Inc. STAG Phillips Edison Grocery Center REIT II, Inc. AUSTRIA: Vienna Stock Exchange (WBO) Babis Vovos International Construction S.A. VOVOS Alpha Pyrenees Trust Limited ALPH Highwoods Properties, Inc.
    [Show full text]
  • Annual Report 2009 Annual Report 2009 Report Annual
    KWG PROPERTY HOLDING LIMITED KWG PROPERTY HOLDING LIMITED 合景泰富地產控股有限公司 合景泰富地產 Incorporated in the Cayman Islands with limited liability Stock Code : 1813 Annual Report 2009 Annual Report 2009 合景泰富地產 KWG PROPERTY HOLDING LIMITED 合景泰富地產控股有限公司 Contents 2 Corporate Information 3 Corporate Profile 4 Management Structure of the Group 4 Financial Highlights 6 Major Events for 2009 8 Honours andAwards 16 Letter to the Shareholders 17 Chief Executive Officer’s Report 18 Management Discussion andAnalysis 33 Directors and Senior Management’s Profile 36 Corporate Governance Report 41 Report of the Directors 49 IndependentAuditors’ Report 50 Consolidated Financial Statements 119 Project at a Glance 120 FiveYear Financial Summary Corporate Information Directors Registered Office Principal Bankers Executive Directors Cricket Square Agricultural Bank of China Limited Mr. Kong Jian Min (Chairman) Hutchins Drive Bank of China Limited Mr. Kong JianTao (Chief Executive P.O. Box 2681 China Construction Bank (Asia) Officer) Grand Cayman KY1-1111 Corporation Limited Mr. Kong Jian Nan Cayman Islands China Minsheng Banking Corp. Ltd Mr. Li Jian Ming Industrial and Commercial Bank of Mr.Tsui KamTim Principal Place of Business China (Asia) Limited Mr. HeWei Zhi in Hong Kong Industrial and Commercial Bank of Mr.YuYao Sheng* China Limited Room 6407, 64th Floor Standard Chartered Bank Independent Non-executive Directors Central Plaza, 18 Harbour Road (Hong Kong) Limited Mr. Lee Ka Sze, Carmelo Wanchai, Hong Kong Mr. Dai Feng Auditors Mr.Tam Chun Fai Principal Share Registrar Ernst &Young Company Secretary Butterfield Fulcrum Group (Cayman) Limited Legal Advisors Mr.Tsui KamTim Butterfield House, 68 Fort Street P.O. Box 705, GeorgeTown as to Hong Kong law: Authorized Representatives Grand Cayman KY1-1107 SidleyAustin Cayman Islands Mr.
    [Show full text]
  • KWG Property Holding Limited October Attributable Pre-Sales
    Press Release [For Immediate Release] KWG Property Holding Limited October Attributable Pre-sales Surged 28.9% y-o-y to RMB1,911 million ****** Achieved 80% of Full Year Target in First Ten Months with Attributable Pre-sales of RMB16.7 billion (11 November 2014 - Hong Kong) KWG Property Holding Limited (“KWG Property” or the “Group”, 1813.HK), one of the leading property developers in Guangzhou City, is pleased to announce its pre- sales result for October 2014. In October 2014, the Group’s gross pre-sales value amounted to RMB2,718 million. The Group’s attributable pre-sales value amounted to RMB1,911 million (as compared to RMB1,705 million in September 2014 and RMB1,482 million in October 2013), representing a month-on-month increase of 12.1% and a year-on-year increase of 28.9%, respectively. The Group’s attributable pre-sales area amounted to approximately 142,300 sq. m. (as compared to 118,000 sq. m. in September 2014 and 99,500 sq. m. in October 2013). For the first ten months, the Group has achieved a total of RMB16.7 billion of attributable pre-sales value, representing 80% of the Group’s full year pre-sales target of RMB21 billion and a year-on-year increase of 24.8%. - End - About KWG Property (HKSE stock code: 1813) Established in 1995, KWG Property is one of the leading property developers focusing on mid to high- end properties with premium quality in prime locations in Guangzhou. Going through 19 years of development, the Group has an efficient property development system, as well as a balanced product portfolio which includes mid- to high-end residential properties, serviced apartments, villas, office buildings, hotels and shopping malls.
    [Show full text]
  • Accelerated Scale Expansion to Further Stretch Balance Sheet
    September 20, 2016 COMMENT Sunac China Holdings (1918.HK) HK$5.87 Equity Research Accelerated scale expansion to further stretch balance sheet News On Sept 18, Sunac announced a potential transaction with Legend (3396.HK, Sept 19 close HK$20; Neutral; covered by Simon Cheung) to acquire 42 property projects in 16 cities with total unsold GFA of 7.3mn sqm for consideration of Rmb13.8bn, pending approval from shareholders of the companies. The consideration is comprised of Rmb3.6bn equity interest in companies that hold interests in the properties and assumption of Rm10.2bn of external debt, shareholders’ loan and accrued but unpaid interest. It will be paid in cash including Rmb5.5bn in 2016 and the rest in 2017 if the deal completes in early 2017 according to mgmt. Analysis As we highlighted in "Sunac China: Downgrade to Neutral on weak profitability and rising leverage" (Aug 31, 2016), we expect Sunac to continue its aggressive scale expansion at the expense of lower margins and higher leverage, and the proposed transaction comes at an even more accelerated pace than we anticipated. Based on the disclosed details, we note: 1) If completed, Sunac’s attributable landbank size will increase by 18% to GFA36.5mn sqm from 1H16 and geographic coverage will expand by 8 new cities to a total of 35 cities while the share of its attributable land bank in tier- 1/2/3 cities will change to 9%/67%/24% from 10%/75%/15% as of 1H16 (Ex. 1). 2) Stripping out one-off gains, the assets generated c.Rmb0.2bn net profit in 2015 (equivalent to 6% of Sunac's 2015 core profit) due to a deceleration in sales and margin slippage as per Simon Cheung.
    [Show full text]
  • Longfor Properties(960
    COMPANY NOTE Target Change China | Property | China Property 28 May 2015 EQUITY RESEARCH (960 HK) BUY Longfor Properties Price target HK$14.50 Re-rating Trend to Continue; Reiterate Buy (from HK$12.30) Price HK$13.00 Bloomberg: 960 HK Reuters: 0960.HK Key Takeaway Longfor share re-rating is largely due to its timely adjustment in business model and prudent financial management despite high market volatility, in our view. Financial Summary We expect additional upside will be driven by: 1) upcoming increase in sales, Net Debt (MM): Rmb28,705 2) further reduction in funding cost to 6%, and 3) higher sales visibility and margin recovery through upgrading land bank. With such a high-quality credit Market Data profile, valuation is undemanding at 35% NAV disc/8.4x PE. Reit. Buy. 52 Week Range: HK$15.00 - HK$8.46 CHINA Total Entprs. Value (MM): HK$102,923.4 Sales pickup coming: Due to ongoing inventory clearance as a major contribution (mainly in Northern China and tier-3 cities in Eastern China), the company’s sales declined Market Cap. (MM): HK$67,016.3 14% yoy to Rmb10.8bn as of April, locking in 20% of its full-year target. We expect its sales Shares Out. (MM): 5,155.1 to pick up from June since four projects will be launched in May/June and another 13 new Float (MM): 1,181.1 projects for the 2H, mainly in Beijing, Shanghai and Hangzhou. Driven by robust sentiment Avg. Daily Vol.: 8,214,764 in these cities, we expect 75% of total units will be sold on the first day, and overall sell- through rate will improve to 58% from 52% in 2014.
    [Show full text]
  • China Property Sector
    China / Hong Kong Industry Focus China Property Sector Refer to important disclosures at the end of this report DBS Group Research . Equity 19 Apr 2021 Spotlight on future land supply • Solid sales growth momentum sustained with strong HSI: 28,970 potential to ink another year of record-high sales • Developers poised to meet their 2021 targets ANALYST Jason LAM +852 3668 4179 [email protected] • Future land supply and new starts as keys to watch for Danielle WANG CFA, +852 3668 4176 [email protected] • Sector top picks: Vanke, COLI, CIFI and Logan Ken HE CFA, +86 21 3896 8221 [email protected] Solid performance in 1Q21; strong potential for another year of Ben Wong [email protected] record-high residential sales. Residential sales in Mar rose 63% y-o-y (or 44% vs Mar-19) on the back of a 38% (or 19% vs Mar- Recommendation & valuation 19) increment in residential GFA sold and 19% (or 21% vs Mar- 19) rise in residential ASP, marking another solid month of FY22F physical market performance. We believe the market is well- Target Price Price Rec Mkt Cap PE poised to post another record-high sales value this year – as it HK$ HK$ US$bn x will likely attain 2020’s level even if the market records a 12.5% y- o-y decline for the remaining nine months. China Overseas Developers well on track to achieve their 2021 targets. Presales 20.15 25.70 BUY 28.4 4.0 (688 HK) growth of 30 listed developers we track on a weighted-average China Vanke 'H' 28.25 45.56 BUY 49.9 5.3 basis remained strong at 47% y-o-y (or +33% vs Mar 2019) in (2202 HK) Mar (Feb-21: 144%), as compared to their c.10% weighted Logan Property 12.50 16.44 BUY 8.9 3.5 average presales target for 2021.
    [Show full text]
  • Tracker Fund of Hong Kong
    LIPPO FUND SERIES LIPPO SELECT HK & MAINLAND PROPERTY ETF SEMI-ANNUAL FINANCIAL STATEMENTS (UNAUDITED) FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017 LIPPO FUND SERIES LIPPO SELECT HK & MAINLAND PROPERTY ETF Contents Pages Administration and management 1 Report of the Manager 2 Statement of net assets (Unaudited) 3 Investment limitations and prohibitions under the SFC Code (Unaudited) 4 Investment portfolio (Unaudited) 5 - 6 Statement of movements in investment portfolio (Unaudited) 7 - 8 IMPORTANT: Any opinion expressed herein reflects the Manager’s view only and is subject to change. For more information about the Lippo Fund Series, please refer to the prospectus of the Lippo Fund Series which is available at our website: http://lippoetf.com/index.php/fund-info/. Investors should not rely on the information contained in this report for their investment decisions. LIPPO FUND SERIES LIPPO SELECT HK & MAINLAND PROPERTY ETF ADMINISTRATION AND MANAGEMENT Manager Registrar Lippo Investments Management Limited Computershare Hong Kong Investor Services 40/F, Tower Two1 Limited Lippo Centre, 89 Queensway 17M Floor, Hopewell Centre Hong Kong 183 Queen’s Road East Website: http://www.lippo-im.com Wan Chai, Hong Kong Directors of the Manager Service Agent Bruce Cheung Heung Wing HK Conversion Agency Services Limited David Ng Tai Chiu 12/F, One International Finance Centre, 1 Harbour View Street Trustee Central, Hong Kong Cititrust Limited 50th Floor, Champion Tower Legal Adviser to the Manager Three Garden Road King & Wood Mallesons Central, Hong Kong 13th Floor, Gloucester Tower (prior to 1 November 2017) The Landmark, 15 Queen’s Road Central, Hong Kong BOCI-Prudential Trustee Limited 12/F & 25/F, Citicorp Centre Participating Dealers 18 Whitfield Road Goldman Sachs (Asia) Securities Limited Causeway Bay, Hong Kong 68th Floor, Cheung Kong Center (with effect from 1 November 2017) 2 Queen’s Road Central, Hong Kong Custodian Citibank N.A.
    [Show full text]
  • FTSE Asia Pacific Ex Japan, Australia and NZ
    FTSE PUBLICATIONS FTSE Asia Pacific ex Japan, 19 February 2017 Australia and NZ Indicative Index Weight Data as at Closing on 30 December 2016 Index Index Index Constituent Country Constituent Country Constituent Country weight (%) weight (%) weight (%) 3SBio (P Chip) 0.03 CHINA Bank Negara Indonesia 0.09 INDONESIA Champion REIT 0.04 HONG AAC Technologies Holdings 0.19 HONG Bank of Baroda 0.03 INDIA KONG KONG Bank of China (H) 1.01 CHINA Chang Hwa Commercial Bank 0.09 TAIWAN ABB India 0.02 INDIA Bank of Communications (H) 0.18 CHINA Charoen Pokphand Foods PCL 0.11 THAILAND Aboitiz Equity Ventures 0.1 PHILIPPINES Bank of East Asia 0.14 HONG Charoen Pokphand Indonesia Tbk 0.05 INDONESIA Aboitiz Power 0.04 PHILIPPINES KONG Cheil Worldwide 0.03 KOREA ACC 0.03 INDIA Bank of India 0.01 INDIA Cheng Shin Rubber Industry 0.11 TAIWAN Acer 0.04 TAIWAN Bank of The Philippine Islands 0.09 PHILIPPINES Cheng Uei Precision Industry 0.01 TAIWAN Adani Enterprises 0.01 INDIA Bank Rakyat Indonesia 0.28 INDONESIA Cheung Kong Infrastructure Holdings 0.15 HONG Adani Ports and Special Economic Zone 0.1 INDIA Banpu 0.07 THAILAND KONG Adani Power 0.01 INDIA BBMG (H) 0.02 CHINA Cheung Kong Property Holdings 0.52 HONG Adaro Energy PT 0.05 INDONESIA BDO Unibank 0.1 PHILIPPINES KONG Aditya Birla Nuvo 0.02 INDIA BEC World 0.01 THAILAND Chicony Electronics 0.04 TAIWAN Advanced Info Serv 0.15 THAILAND Beijing Capital International Airport (H) 0.05 CHINA China Agri-Industries Holdings (Red Chip) 0.02 CHINA Advanced Semiconductor Engineering 0.19 TAIWAN Beijing Enterprises Holdings (Red Chip) 0.07 CHINA China Airlines 0.02 TAIWAN Advantech 0.08 TAIWAN Beijing Enterprises Water Group (Red Chip) 0.08 CHINA China BlueChemical (H) 0.02 CHINA Agile Group Holdings (P Chip) 0.02 CHINA Beijing Jingneng Clean Energy (H) 0.02 CHINA China Cinda Asset Management (H) 0.1 CHINA Agricultural Bank of China (H) 0.32 CHINA Beijing North Star (H) 0.01 CHINA China Citic Bank (H) 0.16 CHINA AIA Group Ltd.
    [Show full text]
  • Pengyuan Credit Rating (Hong Kong) Co.,Ltd
    Property China Credit profiles to improve on lower land acquisitions and solid sales Contents Summary Summary ............................................ 1 Overall policy stance on property industry remains unchanged: we expect the Chinese governments will continue its tight control policies on Property sales ..................................... 2 property industry in 2019 to avoid unwanted overheating in the industry. In Land acquisition .................................. 4 our view, the governments will continue to clamp down the shadow banking financing in the industry and encourage the credit growth through more Property funding ................................. 6 regulated financing channels. On the other hand, with property price under Working capital efficiency ................... 7 control and inventory came off from its peak, a further severe tightening on the industry is unlikely, in our opinion. Industry consolidation ......................... 8 Residential property sales momentum likely to continue but at a slightly Profitability and Cash Flow ................. 9 softer pace: residential property sales value was better than the market Leverage .......................................... 10 expected in the first nine months of 2018, with property sales value rising 16% year over year, according to National Bureau of Statistics (NBS). We Sampled Property Issuers ................ 11 expect to see residential property sales value to grow around 10-15% in the Glossary ........................................... 13 fourth quarter of 2018, and continue to grow at around 10% in 2019, with 3- 4% growth in sales volume and 5-6% growth in average selling price (ASP). Land acquisitions to slow down further and market sentiment unlikely to rebound: we expect the land acquisition activities to continue slow down noticeably in 2019, with the land sale value to grow at around low teen level over the next 12 months.
    [Show full text]
  • KWG Property（1813.HK）
    KWG Property （1813 .HK ） Risk on commercial property development will rise Phillip Securities (Hong Kong) Ltd Bloomberg │││ Reuters │││ POEMS Phillip Securities Research 1813 .HK │││1813│1813 .HK │││1813│1813 .HK Sector: Mainland Property 181818 Jul, 201 333 Strategic Analysis Rating ：Accumulate Closing Price ：4.24 TP ：5.00 Summary It is revealed from updated data that in June 2013, KWG Property’s sales revenue on equity hit RMB 1.2 billion, representing a year-on-year decline of 0.66%, and its pre-sale GFA (gross floor area) was 95,000 square meters, up 10.35% from t he same period a year earlier. In the first half of 2013, KWG Property’s pre-sale revenue on equity rocketed to RMB 8.06 billion, representing a year-on-year increase of 50.4%, and the area attributable to KWG Property totaled 626,000 square meters, with a verage sales price hitting RMB 12880/meter. In light of its whole-year plan, KWG Property aims to achieve sales revenue of RMB 16 billion in 2013, and in the first half of 2013, it has completed 50.4% of its sales plan, a little higher than the industry av erage. All told, KWG Property’s saleable projects amount to the number of 29 and its saleable area reaches 2 million square meters this year. Moreover, the company focuses on marketing small-sized housing products of 90-100 square meters. Due to this, the company’s housing sales rate in given period accords with the anticipation. By the end of 2012, KWG Property’s bank loan and senior debt respectively attained RMB 10 billion and RMB 6.18 billion, with interest-bearing debt totaling about RMB 16.2 billion .
    [Show full text]
  • Prime Property Shorts in China
    Markit Commentary June 15th 2016 Prime property shorts in China Burnt by falling equities, Chinese investors’ increased appetite for prime urban real estate has pushed prices even higher in 2016. However a recent spike in short interest adds to growing sentiment that sector is cooling. Average short interest in Chinese property developers spike by a quarter from May lows Shenzhen and Guangzhou developers see material jumps in short interest in past week Even after significant covering year to date, largest firms lead short interest rankings Big city life rise. Recently however average short interest As the MSCI snubs Chinese A-shares for the (measured by the percent of free float shares second year in a row, Hong Kong listed on loan) across Chinese real estate Chinese property stocks, which proved too companies has surged by over a quarter. hot for short sellers in early 2016, have seen a jump in shorting activity as insatiable Linking Hong Kong to the mainland, the tech investor demand drives prime urban real oriented city of Shenzen has posted some estate prices higher. impressive property price gains in recent years, but analysts have started to call for a Property speculation has also been bolstered correction as the government steps in to cool by an increase in peer-to-peer lending, a the sector through the introduction of home major source of shadow financing. After being buying restrictions. burnt by the stock market collapse in 2015, retail investors have found a new fondness for bricks and mortar and have a clear preference for urban centres where price growth has outstripped smaller locations.
    [Show full text]
  • Wang Jianlin Wanda Group
    10 Property.FIN.qxp_Layout 1 13/9/16 5:41 pm Page 113 Week in China China’s Tycoons Property Wang Jianlin Wanda Group the “football mayor” while Dalian Wanda became a household name in China thanks to its all-conquering football team which “My dominated the Chinese league in the 1990s. philosophy is always the Big break same: be close In 1991, Wanda was one of the state entities with the picked to become a ‘pilot’ joint stock firm. government, Wang got the controlling shareholder of and distance Wanda, which then began to expand beyond myself from Liaoning. politics” Wang came up with the idea of the Wanda Plaza: mega residential and commercial complexes. Local governments welcomed these huge projects with land and other incentives By late 2015 Wanda had 133 Wanda Plazas and 84 hotels nationwide with total leasable area of 26 million square metres. Going global At the apex of Chinese politics stands a group In 2012 Bo Xilai was arrested and lost out to Xi of elites known as the hongerdai, or children Jinping, another hongerdai, in the race to or grandchildren of the revolutionary leaders become China’s supreme leader. It didn’t seem who helped the Communist Party to seize to have affected Wang. power in 1949. Wang is among the blue bloods Indeed, it was after 2012 that Wang began to (“red bloods” may be politically more spend aggressively overseas. His trophy buys appropriate): his father had taken part in and include London properties, UK yacht maker survived the Red Army’s Long March.
    [Show full text]