DOCSLIB.ORG

Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Presentation Leveraging Asia for European GNSS An Insight into China’s GNSS Market Date Friday 4 December 2020 Time 10:00 CET / 17:00 CST Zoom Crash Course! Please mute your microphone Any questions? Ask here! Feel free to upvote! Talk to panellists and fellow participants 1 A quick preview… 11. China’s GNSS market segmentation differs from the European approach 2. The gravity point of China’s GNSS industry is in the Pearl River Delta, followed by Beijing- 2 Tianjin-Hebei and the Yangtze River Delta 3. GNSS-driven consumer solutions have penetrated into every part of Chinese citizens’ daily 3 life, including anti-COVID applications 44. GNSS already enables the high precision of smart vehicles, including Apollo’s self-driving taxis 55. China sees new players going upstream (LEO) to meet specific GNSS requirements, with examples in telecommunications and automotive (Geely) 66. A trend of sensor fusion combines GNSS with Remote Sensing, Mobile Communications, IoT and Artificial Intelligence 77. New business models and market conditions, with the big 3 ABC, the opening-up to civil investors and continuous public investment in new and high-tech infrastructure 8. Growing legislation, regulation and standardisation of GNSS industries, requiring foreign 8 companies to be aware of these conditions before entering the market 2 An Insight into China’s GNSS Market EU-China Workshop CST CET Topic Speaker Rainer Horn 17:00 10:00 Welcome Remarks GNSS.asia Tiantian Qi 17:05 10:05 Overview of China’s GNSS Market Landscape European Union Chamber of Commerce in China, GNSS.asia China Davof Xu 17:30 10:30 Latest Market and Technology Trends SpaceTec Partners, GNSS.asia China Julia Lohse 18:00 11:00 Opportunities for EU Industry SpaceTec Partners, GNSS.asia 18:15 11:15 Q&A Session 3 GNSS.asia – The three objectives Facilitate Industrial Cooperation Support Industrial cooperation Institutional Relations across continents Promote European GNSS in Multi-GNSS context 4 5 What can GNSS.asia do for you? Register for support on www.gnss.asia! Networking & Dissemination & Market entry matchmaking support marketing support support • Stakeholder introductions • Speaking slots at GNSS.asia • Access to the latest GNSS and matchmaking sessions online workshops and market information and trends • High-level EU-Asia • Virtual presentations • Support in identifying business delegation visits through videoconference opportunities for your business • Personalised interviews • Dissemination of • Access to experienced local identifying individual promotional material at teams with in-depth market priorities international events knowledge • Guided company visits and • Visibility through GNSS.asia • Access to a broad industry and presentation opportunities innovation blog, newsletter institutional stakeholder & market trends network 6 Our GNSS.asia team in China… at your service! ▪ 14 years of experience in the EU Delegation to China & Mongolia and the European Union Chamber of Commerce in China ▪ GNSS.asia China Project Manager ▪ Senior business manager at European Union Chamber of Commerce in China, leading auto components WG Tiantian Qi [email protected] ▪ Loves Belgian food & French wine ▪ 5 years of experience in the European Union Chamber of Commerce in China on GNSS.asia and EU SME Centre ▪ Standardisation council at Philips ▪ National Vice-Chair of standard and conformity assessment WG Davof Xu ▪ Loves tea and German beers [email protected] 7 An Insight into China’s GNSS Market EU-China Workshop CST CET Topic Speaker Rainer Horn 17:00 10:00 Welcome Remarks GNSS.asia Tiantian Qi 17:05 10:05 Overview of China’s GNSS Market Landscape European Union Chamber of Commerce in China, GNSS.asia China Davof Xu 17:30 10:30 Latest Market and Technology Trends SpaceTec Partners, GNSS.asia China Julia Lohse 18:00 11:00 Opportunities for EU Industry SpaceTec Partners, GNSS.asia 18:15 11:15 Q&A Session 8 Chengdu, city of GNSS and pandas in 2020! 9 Highlights from China SatNav Conference 2020 Announcement of China’s basic GNSS law to safeguard 1 China’s GNSS market development CSNSAO and Mongolia GIA signed bilateral 2 cooperation agreement on BeiDou applications 22nm dual-frequency chipsets for centimeter-level 3 positioning launched by BDStar. Meituan and BDStar signed a strategic cooperation agreement 10 Growing importance of the downstream market ▪ 2019 output reached EUR 43 billion → an annual increase of 14.4%! ▪ Growing share of downstream market from 31% to 44% since 2016 ▪ 14,000 GNSS companies keeping over 500,000 employees at work Industrial Chain Links 2016 2017 2018 2019 Basic Devices 5% 4.17% 4.44% 3.6% 13% 11.27% 10.94% 9.92% Basic Upstream 2% 2.1% 2.02% Software 2% Basic Data 6% 5.1% 4.4% 4.3% Terminal China’s Satellite Navigation and Location 56% 42% 36.79% 34.57% 29.62% Integration Service Industry Output Growth Midstream 51.92 47.46% 45.85% System 14% 15.13% 12.89% 16.23% (2006-2019, GLAC White Paper) Integration Operation Downstream 31% 36.81% 41.6% 44.23% Service 11 GNSS Market Segments in Europe CONSUMER SOLUTIONS EMERGENCY RESPONSE ROAD & AUTOMOTIVE RAIL MANNED AVIATION AGRICULTURE DRONES GEOMATICS MARITIME CRITICAL INFRASTRUCTURES 12 GNSS Market Segments in China Sharing Economy Road Transportation Tourism Navigation Shared Bike Passenger Car Monitoring Hospitality Industry Mobile Navigation and Positioning Service Shared Charging Station Dump Truck Monitoring Heritage Management Pre-load / After-load Passenger Car Navigator Official Vehicle Monitoring Scenery Application Transportation Big Data Medical Service Sanitation Railway Transportation Ambulance Management Car/Personnel Management Timing Application Patient Monitoring Pet Position Geo-Marketing and Smart Trash Bin Train Control System Silver Economy Monitoring Advertising Deformation Control MASS Logistics Logistic Distribution City Management CONSUMER Sport Monitoring Home Care Civil Aviation Cargo Monitoring Application Grid Management Air Transportation Construction Condition MARKET Monitoring Law Enforcement Recorders General Aviation Gaming Social Smart Stock Monitoring Component Management Application Media Cane Maritime Express Gas Maritime Engineer Express Applications Outdoor Sport / Smart Pipe Network Mapping and GIS Fishing Applications Transit Monitoring Work Safety Emergency Rescue Unmanned Express Car Line Patrol INDUSTRIAL Water Post MARKET Surveying and Mapping Smart Cover Engineer Surveying Post Truck Monitoring Water Level Monitoring Post Delivery Disaster Prevention Connected Vehicle Agriculture Driving Licensing BeiDou Disaster Forecast Vehicle and Road Deformation Monitoring in Special Area Smart Licensing Test Autonomous Driving of Collaboration Mining Safety Monitoring Driving Course Agricultural Machine Autonomous Driving Livestock Farming High-precision Maps Wildlife Protection Education Firefighting Etc. Smart Campus Drone Emergency Commend of Fire Engine School Car Emergency Commend of Firefighter Weather Monitoring Plant Protection Logistic Drone SPECIFIC High Altitude Special Education Drone Patrol Police Meteorological Research MARKET Policy Car Application Unmanned Meteorological Blindman Navigation Sports Individual Law Enforcement Recorder station Emergency Communication Support Special Education Outdoor Activities Mobile Communication Running Trajectory Timing Service Base Station Timing Racing Boat Positioning Justice Jail Application BeiDou + 5G Scenery Construction Communication Correction Application Smart Scenery Control Financial Institution Construction Machinery Addiction Treatment Application Construction Management Electricity Timing Service Electricity Network Timing Insurance BeiDou Judgement 13 GNSS Market Segments in China Sharing Economy Road Transportation Tourism Navigation Shared Bike Passenger Car Monitoring Hospitality Industry Mobile Navigation and Positioning Service Shared Charging Station Dump Truck Monitoring Heritage Management Pre-load / After-load Passenger Car Navigator Official Vehicle Monitoring Scenery Application Transportation Big Data Medical Service Sanitation Railway Transportation Ambulance Management Car/Personnel Management Timing Application Patient Monitoring Pet Position Geo-Marketing and Smart Trash Bin Train Control System Silver Economy Monitoring Advertising Deformation Control MASS Logistics Logistic Distribution City Management CONSUMER Sport Monitoring Home Care Civil Aviation Cargo Monitoring Application Grid Management Air Transportation Construction Condition MARKET Monitoring Law Enforcement Recorders General Aviation Gaming Social Smart Stock Monitoring Component Management Application Media Cane Maritime Express Gas Maritime Engineer Express Applications Outdoor Sport / Smart Pipe Network Mapping and GIS Fishing Applications Transit Monitoring Work Safety Emergency Rescue Unmanned Express Car Line Patrol INDUSTRIAL Water Post MARKET Surveying and Mapping Smart Cover Engineer Surveying Post Truck Monitoring Water Level Monitoring Post Delivery Disaster Prevention Connected Vehicle Agriculture Driving Licensing BeiDou Disaster Forecast Vehicle and Road Deformation Monitoring in Special Area Smart Licensing Test Autonomous Driving of Collaboration Mining Safety Monitoring Driving Course Agricultural Machine Autonomous Driving Livestock Farming High-precision Maps Wildlife Protection Education Firefighting Etc. Smart Campus Drone Emergency Commend of Fire Engine School Car Emergency Commend of Firefighter Weather Monitoring Plant Protection Logistic Drone SPECIFIC High Altitude Special Education Drone Patrol Police Meteorological
Load more

Recommended publications
  • 中國中車股份有限公司 Crrc Corporation Limited
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 中 國 中 車 股 份 有 限 公 司 CRRC CORPORATION LIMITED (a joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1766) US$600,000,000 Zero Coupon Convertible Bonds due 2021 Stock code: 5613 2018 INTERIM RESULTS ANNOUNCEMENT The board of directors of CRRC Corporation Limited (the “Company”) is pleased to announce the unaudited results of the Company and its subsidiaries for the six months ended 30 June 2018. This announcement, containing the main text of the 2018 interim report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) in relation to information to accompany preliminary announcements of interim results. The 2018 interim report of the Company and its printed version will be published and delivered to the H shareholders of the Company and available for view on the websites of the Stock Exchange at http://www.hkex.com.hk and of the Company at http://www.crrcgc.cc on or before 30 September 2018. By order of the Board CRRC Corporation Limited Liu Hualong Chairman Beijing, the PRC 24 August 2018 As at the date of this announcement, the executive directors of the Company are Mr.
    [Show full text]
  • Agricultural Bank of China Financial Statements
    Agricultural Bank Of China Financial Statements approvesGibbose Aldus her decorums marvelling euphemistically. his Gunther deplumes Is Winny loweringly. always poison-pen Sinusoidal and Dirk unremitted still outlash: when diverting lapidifies and some investigative stang very Kristopher newly and regrant neurotically? quite somnolently but Their authorization to be expected credit asset portfolios utilising less any significant inputs into in other credit products and supervision of china agricultural financial statements of bank China Ltd and Vice President of the Agricultural Bank of China Prior action that Mr Pan control several positions in the Industrial and county Bank of China Ltd. By lending to companies large because small, we help your grow, creating jobs and real economic value or home currency in communities around your world. GSX reported in mud past. Explore strong compliance department, financial statements represent. Financial report contained in job Bank's 2017 Annual Report. Casualty implemented organizational structure of china accounting firm hired: e generally review. He is likely not become president of the Hong Kong- and Shanghai-listed bank upon approval from your board and financial regulators according to. ACGBF Agricultural Bank of China Ltd Financial Results. Services for ordinary rural areas and farmers across one board. This statistic shows the quick of the Agricultural Bank of China from 200 to 2019. Recently the New York Department of Financial Services became the tube in. Please do not solemn to contact me. Clubhouse announcement regarding identification of china agricultural bank and the dialogue with effect. GUANGZHOU China--BUSINESS WIRE--XPeng Inc XPeng or the. Bank, ABC Financial Assets Investment Co.
    [Show full text]
  • Annual Report 2019 Mobility
    (a joint stock limited company incorporated in the People’s Republic of China with limited liability) Stock Code: 1766 Annual Report Annual Report 2019 Mobility 2019 for Future Connection Important 1 The Board and the Supervisory Committee of the Company and its Directors, Supervisors and Senior Management warrant that there are no false representations, misleading statements contained in or material omissions from this annual report and they will assume joint and several legal liabilities for the truthfulness, accuracy and completeness of the contents disclosed herein. 2 This report has been considered and approved at the seventeenth meeting of the second session of the Board of the Company. All Directors attended the Board meeting. 3 Deloitte Touche Tohmatsu CPA LLP has issued standard unqualified audit report for the Company’s financial statements prepared under the China Accounting Standards for Business Enterprises in accordance with PRC Auditing Standards. 4 Liu Hualong, the Chairman of the Company, Li Zheng, the Chief Financial Officer and Wang Jian, the head of the Accounting Department (person in charge of accounting affairs) warrant the truthfulness, accuracy and completeness of the financial statements in this annual report. 5 Statement for the risks involved in the forward-looking statements: this report contains forward-looking statements that involve future plans and development strategies which do not constitute a substantive commitment by the Company to investors. Investors should be aware of the investment risks. 6 The Company has proposed to distribute a cash dividend of RMB0.15 (tax inclusive) per share to all Shareholders based on the total share capital of the Company of 28,698,864,088 shares as at 31 December 2019.
    [Show full text]
  • Signature Redacted I MIT Sino in School of Management May 6, 2016
    Individual Investors, Social Media and Chinese Stock Market: a Correlation Study By Yonghui Wu B.E., Shanghai Jiao Tong University, 2007 M.E., Shanghai Jiao Tong University, 2010 SUBMITTED TO THE MIT SLOAN SCHOOL OF MANAGEMENT IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF SCIENCE IN MANAGEMENT STUDIES MASSACHUSETTS INSTITUTE OF TECHNOLOGY AT THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY JUN 082016 JUNE 2016 LIBRARIES @2016 Yonghui Wu. All rights reserved. ARCHIVES The author hereby grants to MIT permission to reproduce and to distribute publicly paper and electronic copies of this thesis document in whole or in part in any medium now known or hereafter created. Signature of Author: Signature redacted I MIT Sino in School of Management May 6, 2016 Certified by: Signature redacted Erik Brynjolfsson Schussel Family Professor Thesis Supervisor Signature redacted____ Accepted by: Rodrigo S. Verdi Associate Professor of Accounting Program Director, M.S. in Management Studies Program MIT Sloan School of Management Individual Investors, Social Media and Chinese Stock Market: a Correlation Study By Yonghui Wu Submitted to MIT Sloan School of Management on May 6, 2016 in Partial fulfillment of the requirements for the Degree of Master of Science in Management Studies. ABSTRACT Chinese stock market is a unique financial market where heavy involvement of individual investors exists. This article explores how the sentiment expressed on social media is correlated with the stock market in China. Textual analysis for posts from one of the most popular social media in China is conducted based on Hownet and NTUSD, two most commonly used sentiment Chinese dictionaries.
    [Show full text]
  • Reform in Deep Water Zone: How Could China Reform Its State- Dominated Sectors at Commanding Heights
    Reform in Deep Water Zone: How Could China Reform Its State- Dominated Sectors at Commanding Heights Yingqi Tan July 2020 M-RCBG Associate Working Paper Series | No. 153 The views expressed in the M-RCBG Associate Working Paper Series are those of the author(s) and do not necessarily reflect those of the Mossavar-Rahmani Center for Business & Government or of Harvard University. The papers in this series have not undergone formal review and approval; they are presented to elicit feedback and to encourage debate on important public policy challenges. Copyright belongs to the author(s). Papers may be downloaded for personal use only. Mossavar-Rahmani Center for Business & Government Weil Hall | Harvard Kennedy School | www.hks.harvard.edu/mrcbg 1 REFORM IN DEEP WATER ZONE: HOW COULD CHINA REFORM ITS STATE-DOMINATED SECTORS AT COMMANDING HEIGHTS MAY 2020 Yingqi Tan MPP Class of 2020 | Harvard Kennedy School MBA Class of 2020 | Harvard Business School J.D. Candidate Class of 2023 | Harvard Law School RERORM IN DEEP WATER ZONE: HOW COULD CHINA REFORM ITS STATE-DOMINATED SECTORS AT COMMANDING HEIGHTS 2 Contents Table of Contents Contents .................................................................................................. 2 Acknowledgements ................................................................................ 7 Abbreviations ......................................................................................... 8 Introduction .........................................................................................
    [Show full text]
  • Building Development for a New Era. China's Infrastructure Projects In
    BUILDING DEVELOPMENT FOR A NEW ERA CHINA’S INFRASTRUCTURE PROJECTS IN LATIN AMERICA AND THE CARIBBEAN EDITED BY ENRIQUE DUSSEL PETERS | ARIEL C. ARMONY SHOUJUN CUI BUILDING DEVELOPMENT FOR A NEW ERA BUILDING DEVELOPMENT FOR A NEW ERA CHINA’S INFRASTRUCTURE PROJECTS IN LATIN AMERICA AND THE CARIBBEAN Edited by ENRIQUE DUSSEL PETERS, ARIEL C. ARMONY, AND SHOUJUN CUI Published by Asian Studies Center, Center for International Studies, University of Pittsburgh, and Red Académica de América Latina y el Caribe sobre China Copyright © 2018 All rights reserved Manufactured in Mexico CONTENTS ABOUT THIS PROJECT vii INTRODUCTION ix Ariel C. Armony, Enrique Dussel Peters, and Shoujun Cui 1. CHINA-COSTA RICA INFRASTRUCTURE PROJECTS: Laying the Groundwork for Development? 3 Monica DeHart 2. CHINA-ECUADOR RELATIONS AND THE DEVELOPMENT OF THE HYDRO SECTOR: A Look at the Coca Codo Sinclair and Sopladora Hydroelectric Projects 24 Paulina Garzón and Diana Castro 3. CHINESE INFRASTRUCTURE PROJECTS IN MEXICO: General Context and Two Case Studies 58 Enrique Dussel Peters 4. ARGENTINA’S INFRASTRUCTURE GAP AND FINANCIAL NEEDS: The Role of China 77 Leonardo Stanley 5. CHINESE INFRASTRUCTURE PROJECTS IN ADVANCED INDUSTRIES: The Atucha III Nuclear Power Reactor in Argentina 102 Ravi Madhavan, Thomas G. Rawski, and Qingfeng Tian 6. CHINESE INFRASTRUCTURE PROJECTS IN BRAZIL: Two Case Studies 122 Celio Hiratuka 7. THE CHINESE-BACKED NICARAGUA CANAL: Domestic Rationale, Multiple Risks, and Geopolitical Implications 144 Shoujun Cui 8. CHINESE INFRASTRUCTURE PROJECTS IN LATIN AMERICA AND THE CARIBBEAN: The Experience of the Inter-American Development Bank 164 Sven-Uwe Mueller and Fan Li 9. A STRATEGIC ANALYSIS OF CHINESE INFRASTRUCTURE PROJECTS IN LATIN AMERICA AND THE CARIBBEAN 180 Haibin Niu ABOUT THE AUTHORS 195 INDEX 201 ABOUT THIS PROJECT his book is the result of a truly global partnership between three insti- tutions: the University of Pittsburgh, the Universidad Nacional Autóno- T ma de México (UNAM), and the Renmin University of China.
    [Show full text]
  • U.S. Investors Are Funding Malign PRC Companies on Major Indices
    U.S. DEPARTMENT OF STATE Office of the Spokesperson For Immediate Release FACT SHEET December 8, 2020 U.S. Investors Are Funding Malign PRC Companies on Major Indices “Under Xi Jinping, the CCP has prioritized something called ‘military-civil fusion.’ … Chinese companies and researchers must… under penalty of law – share technology with the Chinese military. The goal is to ensure that the People’s Liberation Army has military dominance. And the PLA’s core mission is to sustain the Chinese Communist Party’s grip on power.” – Secretary of State Michael R. Pompeo, January 13, 2020 The Chinese Communist Party’s (CCP) threat to American national security extends into our financial markets and impacts American investors. Many major stock and bond indices developed by index providers like MSCI and FTSE include malign People’s Republic of China (PRC) companies that are listed on the Department of Commerce’s Entity List and/or the Department of Defense’s List of “Communist Chinese military companies” (CCMCs). The money flowing into these index funds – often passively, from U.S. retail investors – supports Chinese companies involved in both civilian and military production. Some of these companies produce technologies for the surveillance of civilians and repression of human rights, as is the case with Uyghurs and other Muslim minority groups in Xinjiang, China, as well as in other repressive regimes, such as Iran and Venezuela. As of December 2020, at least 24 of the 35 parent-level CCMCs had affiliates’ securities included on a major securities index. This includes at least 71 distinct affiliate-level securities issuers.
    [Show full text]
  • Schedule of Investments (Unaudited) Ishares MSCI Total International Index Fund (Percentages Shown Are Based on Net Assets) September 30, 2020
    Schedule of Investments (unaudited) iShares MSCI Total International Index Fund (Percentages shown are based on Net Assets) September 30, 2020 Mutual Fund Value Total International ex U.S. Index Master Portfolio of Master Investment Portfolio $ 1,034,086,323 Total Investments — 100.4% (Cost: $929,170,670) 1,034,086,323 Liabilities in Excess of Other Assets — (0.4)% (3,643,126) Net Assets — 100.0% $ 1,030,443,197 iShares MSCI Total International Index Fund (the “Fund”) seeks to achieve its investment objective by investing all of its assets in International Tilts Master Portfolio (the “Master Portfolio”), which has the same investment objective and strategies as the Fund. As of September 30, 2020, the value of the investment and the percentage owned by the Fund of the Master Portfolio was $1,034,086,323 and 99.9%, respectively. The Fund records its investment in the Master Portfolio at fair value. The Fund’s investment in the Master Portfolio is valued pursuant to the pricing policies approved by the Board of Directors of the Master Portfolio. Fair Value Hierarchy as of Period End Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: • Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access • Level 2 – Other observable inputs (including, but not limited to, quoted prices
    [Show full text]
  • 5 February 2021 Dear Senate Foreign Affairs, Defence and Trade Legislation Committee, Please Accept This Submission for the Cust
    5 February 2021 Dear Senate Foreign Affairs, Defence and Trade Legislation Committee, Please accept this submission for the Customs Amendment (Banning Goods Produced By Uyghur Forced Labour) Bill 2020 on behalf of the Australian Uyghur Tangritagh Women’s Association (AUTWA). AUTWA represents Australian Uyghur women in South Australia and is a voice for Uyghur women in East Turkestan (aka Xinjiang, China). We do not have a single member in AUTWA that has not been personally affected by the gross human rights violations on family or friends in East Turkestan. Most of our women suffer from depression and anxiety arising from a sense of helplessness for the plight of their loved ones. They are unable to freely communicate with them, see them or help them financially due to the prohibition of transfer of funds to Uyghurs in some parts of East Turkestan. We are writing to present our unequivocal support of the amendments proposed in this bill. On behalf of AUTWA. I thank the committee for their time. Please contact me if you have any concerns with the contents of our submission so that we may have the opportunity to amend it where required based on your feedback. Yours truly, Ramila Chanisheff. President, Australian Uyghur Tangritagh Women’s Association (AUTWA) Page 1 of 7 AUTWA Submission for the Customs Amendment (Banning Goods Produced By Uyghur Forced Labour) Bill 2020 The proposed bill amendments are as follows: 50A Prohibition of the importation of goods—goods produced by Uyghur forced labour The importation of the following goods is prohibited absolutely: (a) goods produced or manufactured in the Xinjiang Uyghur Autonomous Region of the People’s Republic of China; (b) goods produced or manufactured in the People’s Republic of China through the use of forced labour (within the meaning of the Criminal Code).
    [Show full text]
  • June 2020 Newsletter
    QUARTERLY REPORT – JUNE 2020 Hitting the road, and our stride It’s been an incredible year for all sorts of reasons. And we’re only just getting started. By Sam Lecornu, co-founder and CEO istory has a way of surprising us. Before John, Duke With a calm, laser-like focus and strong expertise on the and I opened Stonehorn’s doors just over a year ground, we added some attractive new stocks to the ago, we considered every eventuality, or at least we portfolio like Hong Kong Stock Exchange and increased our Hthought we did. Now, at our first anniversary, the allocations in core holdings like Mediatek and Tencent. The global economy has stalled, share prices are again nearing record highs and our performance has been better result was a strong performance in the June quarter. than we could have hoped. The Stonehorn portfolio is built for the long-term and our Our clients are receiving strong absolute and excess returns investors should approach it with that in mind. The aim is whilst our information ratio - a measure of significant risk- always to buy cheaply and enjoy the returns whenever they adjusted returns - is 0.631. come. Usually, this can take years; this time, with perceptions turning on a dime, it took a few months. This isn’t the only reason why it has been a memorable year. While Beijing battles a secondary Covid outbreak and To June 30, the Stonehorn Global portfolio strategy (I) is up the US struggles to contain the first wave in the south and 23.8% for the quarter while the benchmark MSCI Asia ex- west, the underlying U.S.
    [Show full text]
  • Schedule of Investments (Unaudited) Blackrock Advantage Emerging Markets Fund January 31, 2021 (Percentages Shown Are Based on Net Assets)
    Schedule of Investments (unaudited) BlackRock Advantage Emerging Markets Fund January 31, 2021 (Percentages shown are based on Net Assets) Security Shares Value Security Shares Value Common Stocks China (continued) China Life Insurance Co. Ltd., Class H .................. 221,000 $ 469,352 Argentina — 0.0% China Longyuan Power Group Corp. Ltd., Class H ....... 52,000 76,119 (a) 313 $ 60,096 Globant SA .......................................... China Mengniu Dairy Co. Ltd.(a) ......................... 15,000 89,204 Brazil — 4.9% China Merchants Bank Co. Ltd., Class H ................ 36,000 275,683 Ambev SA ............................................. 236,473 653,052 China Overseas Land & Investment Ltd.................. 66,500 151,059 Ambev SA, ADR ....................................... 94,305 263,111 China Pacific Insurance Group Co. Ltd., Class H......... 22,000 90,613 B2W Cia Digital(a) ...................................... 20,949 315,188 China Railway Group Ltd., Class A ...................... 168,800 138,225 B3 SA - Brasil Bolsa Balcao............................. 33,643 367,703 China Resources Gas Group Ltd. ....................... 30,000 149,433 Banco do Brasil SA..................................... 15,200 94,066 China Resources Land Ltd. ............................. 34,000 134,543 BRF SA(a).............................................. 22,103 85,723 China Resources Pharmaceutical Group Ltd.(b) .......... 119,500 62,753 BRF SA, ADR(a) ........................................ 54,210 213,045 China Vanke Co. Ltd., Class A .......................... 67,300 289,157 Cia de Saneamento de Minas Gerais-COPASA .......... 52,947 150,091 China Vanke Co. Ltd., Class H .......................... 47,600 170,306 Duratex SA ............................................ 19,771 71,801 CITIC Ltd............................................... 239,000 186,055 Embraer SA(a).......................................... 56,573 90,887 Contemporary Amperex Technology Co. Ltd., Class A .... 1,700 92,204 Gerdau SA, ADR ......................................
    [Show full text]
  • State of Power 2020
    STATE OF POWER 2020 The Corporation envelopeSubscribe to our newsletter: www.tni.org/en/subscribe or scan the QR code: AUTHORS: Joel Bakan, Anita Gurumurthy, Nandini Chami, Lee Jones, Adoración Guamán, Alain Deneault, Myriam Vander Stichele, Brid Brennan, Gonzalo Berrón, Marjorie Kelly, Tchenna Maso, Nomi Prins, Barnaby Francis, Anastasya Eliseeva EDITOR: Nick Buxton COPYEDITOR: Deborah Eade DESIGN: Evan Clayburg PRINTER: Jubels ILLUSTRATIONS: All artwork by Anastasya Eliseeva (anastasya.co.za) unless otherwise noted. Published by: Transnational Institute – www.TNI.org January 2020 Contents of the report may be quoted or reproduced for non-commercial purposes, provided that the source is properly cited. TNI would appreciate receiving a copy of or link to the text in which it is used or cited. Please note that the copyright for the images remains with the photographers. http://www.tni.org/copyright Contents Charming psychopaths 1 The modern corporation An interview with Joel Bakan The intelligent corporation 10 Data and the digital economy Anita Gurumurthy and Nandini Chami Beyond ‘China, Inc.’ 21 Understanding Chinese companies Lee Jones The corporate architecture of impunity 33 Lex Mercatoria, market authoritarianism and popular resistance Adoración Guamán Corporations as private sovereign powers 41 The case of Total Alain Deneault The financialised firm 49 How finance fuels and transforms today’s corporation Myriam Vander Stichele Touching a nerve 61 A peoples’ campaign at the United Nations challenges corporate rule Brid Brennan and
    [Show full text]