DOCSLIB.ORG

China Galaxy AR13

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
China Galaxy AR13 2013 Annual Report Annual Report 2013 CONTENTS IMPORTANT NOTES 2 Chairman’s Statement 3 Section I Definitions 4 Section II Significant Risk Warnings 7 Section III Company Profile 8 Section IV Summary of Accounting Data and Financial Indicators 34 Section V Management Discussion and Analysis 40 Section VI Directors’ Report 76 Section VII Significant Events 85 Section VIII Changes in Shares and Information of Substantial Shareholders 92 Section IX Directors, Supervisors, Senior Management and Staff 94 Section X Corporate Governance Report 113 Section XI Independent Auditor’s Report and Financial Statements 136 China Galaxy Securities Co., Ltd. Annual Report 2013 1 IMPORTANT NOTES The Board of Directors, Supervisory Committee, Directors, Supervisors and senior management of the Company undertake that there are no misrepresentation, misleading statement or material omission in this report and they are jointly and severally liable for the authenticity, accuracy and completeness of the information contained in this annual report. This report has been approved at the 40th meeting of the 2nd session of the Board of Directors, with 11 directors attended and voted at the meeting. No objection was put forward by Directors and Supervisors for this report. The financial report for 2013 was prepared by the Company according to International Financial Reporting Standards (“IFRs”) and PRC Corporate Accounting Standards (“PRC GAAP”), which has been audited by Deloitte Touche Tohmatsu and Deloitte Touche Tohmatsu CPA Limited (Special General Partnership) and they have issued auditors’ report with unqualified opinions. Unless otherwise stated, the amounts in this report are presented in RMB. Mr. Chen Youan (chairman), Mr. Gu Weiguo (president), Ms. Zhu Ruimin (chief financial officer) and Mr. Liu Yueguo (general manager of finance and planning department) hereby confirm that the financial reports as disclosed in this annual report are true, accurate and complete. The forward-looking statements such as future plans, development strategies contained in this report do not constitute substantive undertakings by the Company to investors who are advised to be cautious about investment risks. 2 China Galaxy Securities Co., Ltd. Annual Report 2013 CHAIRMAN’S STATEMENT Dear shareholders, In 2013, although we faced unfavourable situation in light of the continuous downward trend of the securities market in the PRC as a whole and the suspension of A Share IPOs, we still firmly seized the favourable conditions brought by the country’s in-depth reforms, the securities market’s innovative and continuous development, the active trading in the Shenzhen and Shanghai stock markets and the structural market conditions emerged from growth enterprise market. Under the collective efforts of all employees of the Company, the Company achieved good operating performance, the net profits attributable to shareholders of the Company was RMB2.135 billion, an increase of 50.39% compared to that in 2012, the weighted average return on net assets was 9.69%. The Company’s business scope further expanded following the newly obtained qualifications in various businesses, such as the margin and securities refinancing business on a pilot basis, management of entrusted insurance funds business, comprehensive custody business of private funds on a pilot basis and the business of chief agency broker in national share transfer system. In particular, the Company successfully listed its H Shares on the Hong Kong Stock Exchange on 22 May 2013 and raised HK$8.147 billion, which further enhanced the capital strength of the Company, optimised the shareholding structure and promoted the Company’s international profile and brand influence. Looking ahead in year 2014, the new wave of reforms involving state-owned enterprises will bring more business development opportunities for the securities industry in the areas of mergers and acquisitions, financial consulting, assets and market value management; the interest rate marketisation and market-oriented reform of exchange rate formation mechanism will boost structural changes in the financial market and products; the transformation and innovation in the securities industry will move towards a new and higher level following the reforms in regulatory thoughts and issuance system in the securities industry, the spanning development in multi-layer capital market construction as well as more emphasis on protection of small and medium- sized investors and particularly, the booming development of internet financial activities. The Company’s strategic positioning is to become a leading comprehensive financial services provider in the securities industry of China, securing a leading position in major transactions as the core, complemented by investment banking and asset management businesses as two branches of operations, and pursuing balanced and coordinated development of all businesses. The securities industry will face major reforms and challenges in 2014, the Company will, under the guidance of “One Core, Two Branches”, cope with changes in the industry actively and efficiently, promote market-oriented reforms thoroughly and implement various reform measures in a comprehensive manner, explore the potential of employees to the fullest extent and improve standard of customer services so as to strengthen the core competitiveness of the Company. Meanwhile, the Company is vigorously pursuing its A Share offering to further improve its capital strength, and is also actively preparing for and pursuing mergers and acquisitions and business integration. Chairman Chen Youan 26 March 2014 China Galaxy Securities Co., Ltd. Annual Report 2013 3 SECTION I DEFINITIONS In this report, unless the context otherwise requires, the following terms and expressions have the meanings set forth below. “A Share(s)” the shares that is (are) traded on the Shanghai Stock Exchange or the Shenzhen Stock Exchange in Renminbi “Article of Association” the articles of association of the Company (as amended from time to time) “Board” or“ Board of Directors” the Board of Directors of the Company “bp” unit of measurement for the change in interest rate of bonds and notes, one bp equals to 1% of a percentage point “CG Code” Corporate Governance Code and Corporate Governance Report set out in Appendix 14 to the Listing Rules “Company” China Galaxy Securities Co., Ltd.（中國銀河證券股份有限公司）, a joint stock limited company incorporated in the PRC on 26 January 2007, whose H Shares are listed on the Hong Kong Stock Exchange (Stock Code: 06881) “Company Law” the Company Law of the People’s Republic of China “CSRC” the China Securities Regulatory Commission（中國證券監督管理委員會） “Directors” directors of the Company “Domestic Share(s)” issued ordinary share(s) in the share capital of the Company with a nominal value of RMB1.00 each, which is(are) subscribed for or credited as fully paid in RMB “End of the Reporting Period” 31 December 2013 “ETF” exchange-traded funds “Futures IB Business” the business activities in which securities firms, as commissioned by futures companies, introduce clients to futures companies to provide futures brokerage and other related services “Galaxy Capital” Galaxy Capital Management Company Limited（銀河創新資本管理有限公司）, in which the Company holds an equity interest of 100% “Galaxy Financial Holdings” China Galaxy Financial Holdings Limited（中國銀河金融控股有限公司）, the controlling shareholder of the Company “Galaxy Fund Management” Galaxy Fund Management Company Limited (銀河基金管理有限公司), in which Galaxy Financial Holdings holds an equity interest of 50% “Galaxy Futures” Galaxy Futures Company Limited（銀河期貨有限公司）, in which the Company holds an equity interest of approximately 83.32% “Galaxy International Holdings” China Galaxy International Financial Holdings Company Limited（中國銀河國際金融 控股有限公司）, in which the Company holds an equity interest of 100% 4 China Galaxy Securities Co., Ltd. Annual Report 2013 SECTION I DEFINITIONS “Galaxy Investment” China Galaxy Investment Management Company Limited（中國銀行投資管理有限公 司） “Group” the Company and its subsidiaries “H Share(s)” overseas listed foreign shares in the share capital of the Company with a nominal value of RMB1.00 each, which is(are) listed on the Hong Kong Stock Exchange and are subscribed for and traded in HK dollars “Hong Kong” the Hong Kong Special Administrative Region of the PRC “Hong Kong Stock Exchange” The Stock Exchange of Hong Kong Limited “Huijin” Central Huijin Investment Ltd.（中央滙金投資有限責任公司）, which currently holds a 78.57% equity interest of Galaxy Financial Holdings “IPO” Initial Public Offering “Listing Date” the date on which the Company’s H shares were listed on the Hong Kong Stock Exchange, being 22 May 2013 “Listing Rules” the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange (as amended from time to time) “margin and securities refinancing” a business in which securities firms can act as intermediaries to borrow funds or securities from the China Securities Finance Co., Ltd. and lend such funds and securities to their clients “Market Share” the market share “Model Code” the Model Code for Securities Transactions by Directors of Listed Companies set out in the Appendix 10 to the Listing Rules “New OTC Board” National Equities Exchange and Quotations for medium and small-sized enterprises “PRC” or“ China” the People’s Republic of China, and for the purposes of this annual report, excluding Hong Kong, Macau Special Administrative Region and Taiwan region “Prospectus” the prospectus dated 9 May 2013 issued by the Company
Load more

Recommended publications
  • Charles Zhang
    In a little over 35 years China’s economy has been transformed Week in China from an inefficient backwater to the second largest in the world. If you want to understand how that happened, you need to understand the people who helped reshape the Chinese business landscape. china’s tycoons China’s Tycoons is a book about highly successful Chinese profiles of entrepreneurs. In 150 easy-to- digest profiles, we tell their stories: where they came from, how they started, the big break that earned them their first millions, and why they came to dominate their industries and make billions. These are tales of entrepreneurship, risk-taking and hard work that differ greatly from anything you’ll top business have read before. 150 leaders fourth Edition Week in China “THIS IS STILL THE ASIAN CENTURY AND CHINA IS STILL THE KEY PLAYER.” Peter Wong – Deputy Chairman and Chief Executive, Asia-Pacific, HSBC Does your bank really understand China Growth? With over 150 years of on-the-ground experience, HSBC has the depth of knowledge and expertise to help your business realise the opportunity. Tap into China’s potential at www.hsbc.com/rmb Issued by HSBC Holdings plc. Cyan 611469_6006571 HSBC 280.00 x 170.00 mm Magenta Yellow HSBC RMB Press Ads 280.00 x 170.00 mm Black xpath_unresolved Tom Fryer 16/06/2016 18:41 [email protected] ${Market} ${Revision Number} 0 Title Page.qxp_Layout 1 13/9/16 6:36 pm Page 1 china’s tycoons profiles of 150top business leaders fourth Edition Week in China 0 Welcome Note.FIN.qxp_Layout 1 13/9/16 3:10 pm Page 2 Week in China China’s Tycoons Foreword By Stuart Gulliver, Group Chief Executive, HSBC Holdings alking around the streets of Chengdu on a balmy evening in the mid-1980s, it quickly became apparent that the people of this city had an energy and drive Wthat jarred with the West’s perception of work and life in China.
    [Show full text]
  • Tall Buildings in 2020: COVID-19 Contributes to Dip in Year-On-Year Completions
    CTBUH Year in Review: Tall Trends of 2020 Tall Buildings in 2020: COVID-19 Contributes To Dip in Year-On-Year Completions Abstract In 2020, the tall building industry constructed 106 buildings of 200 meters’ height or greater, a 20 percent decline from 2019, when 133 such buildings were completed.* The decline can be partly attributed to work stoppages and other impacts of the COVID-19 pandemic. This report provides analysis and commentary on global and regional trends underway during an eventful year. Research Project Kindly Sponsored by: Note: Please refer to Tall Buildings in Numbers—The Global Tall Building Picture: Impact of 2020 in conjunction with this Schindler paper, pages 48–49. *The study sets a minimum threshold of 200 meters’ height because of the completeness of data available on buildings of that height. Keywords: Construction, COVID-19, Development, Height, Hotel, Megatall, Mixed-Use, Office, Residential, Supertall Introduction This is the second year in a row in which Center (New York City) completed, that the the completion figure declined. In 2019, tallest building of the year was in the For many people, 2020 will be remembered the reasons for this were varied, though United States. as the year that nothing went to plan. The the change in the tall building climate in same can be said for the tall building China, with public policy statements This is also the first year since 2014 in which industry. As a global pandemic took hold in against needless production of there has not been at least one building the first quarter, numerous projects around exceedingly tall buildings, constituted a taller than 500 meters completed.
    [Show full text]
  • List of Radio Dealer (Unrestricted) Licensees (As at 16/08/2021)
    List of Radio Dealer (Unrestricted) Licensees 無線電商(放寬限制)持牌商名單 ( As at 16/09/2021) (截至 16/09/2021) Licensee Address Telephone Licence No. (Ex-Licence No.) 持牌商 地址 電話 牌照號碼 (原有牌照號碼) RM. G87, G/F, SINCERE PODIUM, , MONG KOK 1 + 1 九龍旺角先達廣場地下G87號舖 55926692 RU00231996-RU 188 TELECOM GROUP LIMITED RU00119316-RU 188 電訊集團有限公司 G/F, 188 APLIU ST, SHAM SHUI PO 35860072 (11931) 188 TELECOM O/B 188 TELECOM GROUP LIMITED 188電訊 O/B 188電訊集團有限公司 G/F, 209 APLIU ST, SHAM SHUI PO 23207788 RU00180442-RU 2626 LIMITED RM. /FLAT 1, 5/F, BLK A, HOI LUEN INDUSTRIAL CENTRE, 55 HOI YUEN ROAD, KWUN TONG 97804506 RU00158065-RU 28 FOOD (HK) LIMITED G/F, 204 FA YUEN STREET, MONG KOK 易發食品（香港）有限公司 九龍旺角花園街204號地下 26939008 RU00222985-RU 2DEEP INTERNATIONAL LIMITED 泰森國際貿易有限公司 RM. /FLAT A, 12/F, ZJ 300, 300 LOCKHART ROAD, WAN CHAI 51731646 RU00230817-RU 360 KIDS GUARD CO. LIMITED 2/F, YAU TAK BUILDING, 167 LOCKHART ROAD, WAN CHAI 21563920 RU00216069-RU 365 DAYS FREIGHT SERVICES (HK) LIMITED 5/F, BLK F, COMFORT BUILDING, 86-88A NATHAN ROAD, TSIM SHA TSUI +852 62213657 RU00220056-RU 3M HONG KONG LTD RU00132097-RU 三M香港有限公司 38/F, MANHATTAN PLACE, 23 WANG TAI ROAD, KOWLOON BAY 28066111 (13209) 4&6 TELECOM LIMITED RM. /FLAT 01, 11/F, HANG SENG CASTLE PEAK RD BLDG, 339 CASTLE PEAK RD, CHEUNG SHA WAN +852 66493320 RU00202666-RU 409 SHOP RU00128365-RU 409專門店 RM. /FLAT D-E, 11/F, FLOURISH FOOD MFY CTR, 18 TAI LEE STREET, YUEN LONG 35860967 (12836) 4PX EXPRESS CO., LIMITED RU00129432-RU 遞四方速遞有限公司 G/F, 167-169 HOI BUN ROAD, KWUN TONG 29772988 (12943) 5 CELL RM.
    [Show full text]
  • Potentials and Limitations of Supertall Building Structural Systems: Guiding for Architects
    POTENTIALS AND LIMITATIONS OF SUPERTALL BUILDING STRUCTURAL SYSTEMS: GUIDING FOR ARCHITECTS A THESIS SUBMITTED TO THE GRADUATE SCHOOL OF NATURAL AND APPLIED SCIENCES OF MIDDLE EAST TECHNICAL UNIVERSITY BY HÜSEYİN EMRE ILGIN IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DOCTOR OF PHILOSOPHY IN BUILDING SCIENCE IN ARCHITECTURE JULY 2018 Approval of the thesis: POTENTIALS AND LIMITATIONS OF SUPERTALL BUILDING STRUCTURAL SYSTEMS: GUIDING FOR ARCHITECTS submitted by HÜSEYİN EMRE ILGIN in partial fulfillment of the requirements for the degree of Doctor of Philosophy in Department of Architecture, Middle East Technical University by, Prof. Dr. Halil Kalıpçılar Dean, Graduate School of Natural and Applied Sciences Prof. Dr. F. Cânâ Bilsel Head of Department, Architecture Assoc. Prof. Dr. Halis Günel Supervisor, Department of Architecture, METU Assist. Prof. Dr. Bekir Özer Ay Co-Supervisor, Department of Architecture, METU Examining Committee Members: Prof. Dr. Cüneyt Elker Department of Architecture, Çankaya University Assoc. Prof. Dr. Halis Günel Department of Architecture, METU Assoc. Prof. Dr. Ayşe Tavukçuoğlu Department of Architecture, METU Assoc. Prof. Dr. Ali Murat Tanyer Department of Architecture, METU Prof. Dr. Adile Nuray Bayraktar Department of Architecture, Başkent University Date: 03.07.2018 I hereby declare that all information in this document has been obtained and presented in accordance with academic rules and ethical conduct. I also declare that, as required by these rules and conduct, I have fully cited and referenced all material and results that are not original to this work. Name, Last name: Hüseyin Emre ILGIN Signature: iv ABSTRACT POTENTIALS AND LIMITATIONS OF SUPERTALL BUILDING STRUCTURAL SYSTEMS: GUIDING FOR ARCHITECTS Ilgın, H.
    [Show full text]
  • The Steps to Create a Modern “Business Center” Building (On the Example of the City of Termez)
    European Journal of Research and Reflection in Educational Sciences Vol. 8 No. 1, 2020 Part II ISSN 2056-5852 THE STEPS TO CREATE A MODERN “BUSINESS CENTER” BUILDING (ON THE EXAMPLE OF THE CITY OF TERMEZ) Mohammad Yousuf Yasar Akbari (TerSU, Magistrate of Engineering Graphics and Design Theory) Anvar Turakulov Ergashovich (TerSU, Research advisor) Introduction: My name is Mohammad Yousuf and my last name is Yaser. I am an Afghan and my profession is “Civil Engineering”. I already have had more visits from many cities of Uzbekistan, specially Termez City. The reasons such as: more developed level of teaching in Uzbekistan than the other neighboring countries of Afghanistan, being close of Termez city to Balkh province where I live, and also having the same and shared language (my native tongue is Uzbeki), made me more interested to study in master’s degree in this country. Professionally, in the first focus on Termez city considering the geographical, economic potentials and creating easy investments to the rich people, especially to the rich people of the neighboring countries, I faced a shortage which is “lack of business complex buildings” that should contain all their special criteria. By using what I have learned, considering to have done a little bit cooperation to this city, I have chosen the title of my defense of project, the designation of a building “A Business Center“. The area or surface I saw for this idea is shown for you in this picture (1-picture, a), b)). a) b) 1-picture. (Space view of the old “Fortress” in Termez city) But before that, in this paragraph, I am supposed to present you short information about “Commercial Building” that is very significant to know it in today’s developed society which is explained as below: Commercial buildings.
    [Show full text]
  • COVID-19 Contributes to Dip in Year-On-Year Completions Authors
    CTBUH Research Paper ctbuh.org/papers Title: Tall Buildings in 2020: COVID-19 Contributes To Dip in Year-On-Year Completions Authors: Subject: COVID Keywords: COVID-19 Supertall World's Tallest Publication Date: 2021 Original Publication: CTBUH Journal 2021 Issue I Paper Type: 1. Book chapter/Part chapter 2. Journal paper 3. Conference proceeding 4. Unpublished conference paper 5. Magazine article 6. Unpublished © Council on Tall Buildings and Urban Habitat / CTBUH Year in Review: Tall Trends of 2020 Tall Buildings in 2020: COVID-19 Contributes To Dip in Year-On-Year Completions Abstract In 2020, the tall building industry constructed 106 buildings of 200 meters’ height or greater, a 20 percent decline from 2019, when 133 such buildings were completed.* The decline can be partly attributed to work stoppages and other impacts of the COVID-19 pandemic. This report provides analysis and commentary on global and regional trends underway during an eventful year. Research Project Kindly Sponsored by: Note: Please refer to Tall Buildings in Numbers—The Global Tall Building Picture: Impact of 2020 in conjunction with this Schindler paper, pages 48–49. *The study sets a minimum threshold of 200 meters’ height because of the completeness of data available on buildings of that height. Keywords: Construction, COVID-19, Development, Height, Hotel, Megatall, Mixed-Use, Office, Residential, Supertall Introduction This is the second year in a row in which Center (New York City) completed, that the the completion figure declined. In 2019, tallest building of the year was in the For many people, 2020 will be remembered the reasons for this were varied, though United States.
    [Show full text]
  • Tall Building Completions Maintain Momentum in 2018
    250 240 CTBUH230 Year in Review: Tall Trends of 2018 220 Tall Building Completions Maintain 210 Momentum200 in 2018 Abstract 190 The 2018 CTBUH Tall Building Year in Review and Tall Buildings in Numbers data analysis report found that 143 buildings of 200 meters’ or greater height were completed in 2018, down by four from the all-time record of 147 in 2017.* The year 180 also saw 18 completed “supertalls” (buildings of at least 300 meters’ height), the largest number ever. The report covers other170 statistical highlights of 2018 and predicts completions for 2019. Note: Please refer to Tall Buildings in Numbers – The Global Tall Building Picture: Impact of 2018 in conjunction with this paper, pages 9–10. *The study sets a minimum threshold of 200 meters’ height because of the completeness of data available on buildings of that height. 160 Keywords: Statistics, Construction, Completions, 2018, Height, Urbanization 150 150 147 Buildings 200 Meters or Taller Completed Each Year from 1960 to 2019 143 140 1,700 130 130 Total Number of 200-Meter-Plus Buildings in 1,628 1,600 Existence at Key Points from 1920 to 2019 1,598 1,500 120 120 1,400 115 1,478 1,300 110 1,200 103 1,100 100 1,000 900 90 800 83 80 700 614 600 72 73 500 70 70 400 Number of buildings 200 m+ completed each year 300 60 262 73 174 200 145 54 144 161 71 100 50 50 28 26 48 6 11 11 15 7 13 11 3 2 1 0 1920 1930 194019501960 1970 1980 1990 2000 2010 2018 2019 40 32 31 31 30 30 30 23 22 20 19 18 18 17 16 16 15 15 15 14 11 12 11 10 10 10 9 9 9 9 9 10 8 8 7 6 6 6 6 6 6 5 5 4 4 4 3 3 3 3 3 3 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Notes: Number of 200 m+ buildings Projected number of 200 m+ buildings 1.
    [Show full text]