DOCSLIB.ORG

Chinaamc CSI 300 Index ETF

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Chinaamc CSI 300 Index ETF ChinaAMC ETF Series ChinaAMC CSI 300 Index ETF Unaudited Semi-Annual Report For the period from 1 January 2021 to 30 June 2021 UNAUDITED SEMI-ANNUAL REPORT ChinaAMC CSI 300 Index ETF (a sub-fund of ChinaAMC ETF Series) For the period from 1 January 2021 to 30 June 2021 ChinaAMC CSI 300 Index ETF (a sub-fund of ChinaAMC ETF Series) CONTENTS Pages MANAGEMENT AND ADMINISTRATION 1 - 3 REPORT OF THE MANAGER TO THE UNITHOLDERS 4 - 5 UNAUDITED FINANCIAL STATEMENTS Statement of financial position 6 Statement of comprehensive income 7 Statement of changes in net assets attributable to unitholders 8 Statement of cash flows 9 INVESTMENT PORTFOLIO (UNAUDITED) 10 – 18 MOVEMENTS IN INVESTMENT PORTFOLIO (UNAUDITED) 19 – 28 PERFORMANCE RECORD (UNAUDITED) 29 – 30 DISTRIBUTION DISCLOSURE (UNAUDITED) 31 IMPORTANT: Any opinion expressed herein reflects the Manager’s view only and is subject to change. For more information about the Sub-Fund, please refer to the prospectus of the Sub-Fund which is available at our website: http://www.chinaamc.com.hk/en/products/etf/csi300/documents.html Investors should not rely on the information contained in this report for their investment decisions. ChinaAMC CSI 300 Index ETF (a sub-fund of ChinaAMC ETF Series) MANAGEMENT AND ADMINISTRATION Manager and RQFII Holder Administrator and Custodian China Asset Management (Hong Kong) Limited Citibank, N.A. 37/F, Bank of China Tower 50/F, Champion Tower 1 Garden Road Three Garden Road Central, Hong Kong Central, Hong Kong Directors of the Manager Registrar Mr Yang Minghui Computershare Hong Kong Investor Services Mr Gan Tian Limited Ms Li Yimei 46/F, Hopewell Centre Mr Li Fung Ming 183 Queen’s Road East Wanchai, Hong Kong Trustee Service Agent Cititrust Limited HK Conversion Agency Services Limited 50/F, Champion Tower 1/F One & Two Exchange Square Three Garden Road 8 Connaught Place Central, Hong Kong Central, Hong Kong PRC Custodian Legal Counsel to the Manager Citibank (China) Co., Limited Simmons & Simmons Citigroup Tower 30/F, One Taikoo Place No. 33, Hua Yuan Shi Qiao Road 979 King’s Road Lu Jia Zui Finance and Trade Area, Shanghai Hong Kong People’s Republic of China Auditor Ernst & Young Certified Public Accountants Registered Public Interest Entity Auditor 22/F, CITIC Tower 1 Tim Mei Avenue Central, Hong Kong 1 ChinaAMC CSI 300 Index ETF (a sub-fund of ChinaAMC ETF Series) MANAGEMENT AND ADMINISTRATION (continued) Participating Dealers ABN AMRO Clearing Hong Kong Limited Guotai Junan Securities (Hong Kong) Limited 70/F, International Commerce Centre 27/F, Low Block, Grand Millennium Plaza 1 Austin Road West 181 Queen’s Road Kowloon, Hong Kong Central, Hong Kong Barclays Bank PLC Haitong International Securities Company 41/F, Cheung Kong Center Limited 2 Queen's Road Central 35/F, Infinitus Plaza Central, Hong Kong 199 Des Voeux Road Central, Hong Kong BNP Paribas Securities (Asia) Limited J.P. Morgan Broking (Hong Kong) Limited 59/F-63/F, Two International Finance Centre 33/F, One Island East 8 Finance Street 18 Westlands Road, Island East Central, Hong Kong Hong Kong BOCI Securities Limited Macquarie Bank Limited 18/F, Grand Millennium Plaza Level 18, One International Finance Centre 181 Queen’s Road 1 Harbour View Street Central, Hong Kong Central, Hong Kong China International Capital Corporation Merrill Lynch Far East Limited Hong Kong Securities Limited 55/F, Cheung Kong Center 29/F, One International Finance Centre 2 Queen’s Road 1 Harbour View Street Central, Hong Kong Central, Hong Kong China Merchants Securities (HK) Co., Limited Mirae Asset Securities (HK) Limited 48/F, One Exchange Square 12/F, Three Exchange Square 8 Connaught Place 8 Connaught Road Central, Hong Kong Central, Hong Kong CITIC Securities Brokerage (HK) Limited Morgan Stanley Hong Kong Securities Limited 26/F, CITIC Tower 46/F, International Commerce Centre 1 Tim Mei Avenue 1 Austin Road West Central, Hong Kong Kowloon, Hong Kong Credit Suisse Securities (Hong Kong) Limited Nomura International (Hong Kong) Limited 88/F, International Commerce Centre 30/F, Two International Finance Centre 1 Austin Road West 8 Finance Street Kowloon, Hong Kong Central, Hong Kong Goldman Sachs (Asia) Securities Limited SG Securities (HK) Limited 68/F, Cheung Kong Center 38/F, Pacific Place 3 2 Queen’s Road 1 Queen’s Road East Central, Hong Kong Admiralty, Hong Kong 2 ChinaAMC CSI 300 Index ETF (a sub-fund of ChinaAMC ETF Series) MANAGEMENT AND ADMINISTRATION (continued) Participating Dealers (continued) The Hongkong and Shanghai Banking Yuanta Securities (Hong Kong) Company Limited Corporation Limited 23/F, Tower 1, Admiralty Centre Level 18, HSBC Main Building 18 Harcourt Road 1 Queen’s Road Admiralty, Hong Kong Central, Hong Kong UBS Securities Hong Kong Limited Zhongtai International Securities Limited 42/F, One Exchange Square 19/F, Li Po Chun Chambers Central, Hong Kong 189 Des Voeux Road Central, Hong Kong 3 ChinaAMC CSI 300 Index ETF (a sub-fund of ChinaAMC ETF Series) REPORT OF THE MANAGER TO THE UNITHOLDERS Introduction The ChinaAMC CSI 300 Index ETF (the “Sub-Fund”), a sub-fund of ChinaAMC ETF Series, an umbrella unit trust established under Hong Kong law by a trust deed dated 28 May 2012 between China Asset Management (Hong Kong) Limited (the “Manager”) and Cititrust Limited (the “Trustee”). The Sub-Fund is a physical exchange traded fund investing directly in underlying A-Shares. Its RMB counter (stock code: 83188) and HKD counter (stock code: 03188) commenced trading on The Stock Exchange of Hong Kong Limited (the “SEHK”) on 17 July 2012 and 26 October 2012 respectively. The Sub-Fund is an index- tracking fund that seeks to track the performance of the CSI 300 Index (the “Index”). The Manager primarily uses a full replication strategy through investing directly in securities included in the Index with substantially the same weightings in which they are included in the Index, through the Renminbi Qualified Foreign Institutional Investor (“RQFII”) program and Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect (“Stock Connect”). The Manager may also use a representative sampling strategy where it is not possible to acquire certain securities which are constituents of the Index due to restrictions or limited availability. This means that the Sub-Fund will invest directly in a representative sample of securities that collectively has an investment profile that aims to reflect the profile of the Index, through the RQFII investment quota granted to the Manager by the SAFE. The securities constituting the representative sample may or may not themselves be constituents of the Index. Performance of the Sub-Fund The investment objective of the Sub-Fund is to provide investment results that, before fees and expenses, closely correspond to the performance of the Index. There can be no assurance that the Sub-Fund will achieve its investment objective. The performance of the Sub-Fund is set out below (Total Returns in respective currency1,2): 1-Month 3-Month Since Launch The Index -1.48% 4.27% 162.63%3 RMB Counter of the Sub-Fund (NAV-to-NAV) -1.62% 3.93% 120.91%4 RMB Counter of the Sub-Fund (Market-to-Market) -2.39% 3.67% 119.67%4 HKD Counter of the Sub-Fund (NAV-to-NAV) -3.04% 5.49% 128.94%5 HKD Counter of the Sub-Fund (Market-to-Market) -4.18% 4.90% 126.57%5 1 Source: Bloomberg, as of 30 June 2021. Performances of CSI 300 Index and RMB Counter of the Sub-Fund are calculated in RMB while performances of HKD Counter of the Sub-Fund are calculated in HKD. Past performance figures shown are not indicative of the future performance of the Sub-Fund. 2 With effect from 25 April 2017, China Asset Management Co., Ltd ceased to be the investment adviser of the Sub-Fund. The performance of the Sub-Fund prior to 25 April 2017 was achieved under circumstances that no longer apply. 3 Calculated Since 16 July 2012. 4 Calculated Since 17 July 2012. 5 Calculated Since 26 October 2012. 4 ChinaAMC CSI 300 Index ETF (a sub-fund of ChinaAMC ETF Series) REPORT OF THE MANAGER TO THE UNITHOLDERS (continued) Activities of the Sub-Fund According to Bloomberg, the average daily trading volume of the Sub-Fund was approximately 4,632,136 units from 1 January 2021 to 30 June 2021. As of 30 June 2021, there were 337,050,000 units outstanding. Activities of the Index There were 1 rebalance for the Index from 1 January 2021 to 30 June 2021. As of 30 June 2021, the Sub- Fund comprised of all 300 constituent stocks in the Index. China Asset Management (Hong Kong) Limited 13 August 2021 5 ChinaAMC CSI 300 Index ETF (a sub-fund of ChinaAMC ETF Series) STATEMENT OF FINANCIAL POSITION As at 30 June 2021 30 June 2021 31 December 2020 (Unaudited) (Audited) RMB RMB ASSETS Financial assets at fair value through profit or loss 17,879,412,559 15,635,597,090 Other receivable 100,841 – Cash and cash equivalents 122,209,266 116,641,605 TOTAL ASSETS 18,001,722,666 15,752,238,695 LIABILITIES Management fee payable 10,250,759 8,862,544 Custodian, fund administration and trustee fees payable 4,511,635 3,821,724 Amounts due to participating dealers 29,928 – Other payables and accruals 5,423,217 6,210,749 TOTAL LIABILITIES 20,215,539 18,895,017 EQUITY NET ASSETS ATTRIBUTABLE TO UNITHOLDERS 17,981,507,127 15,733,343,678 TOTAL LIABILITIES AND EQUITY 18,001,722,666 15,752,238,695 NUMBER OF UNITS IN ISSUE 337,050,000 296,400,000 NET ASSET VALUE PER UNIT 53.3497 53.0815 Note: The semi-annual report of the Sub-Fund have been prepared in accordance with the same accounting policies adopted in the 2020 annual financial statements.
Load more

Recommended publications
  • State of Mobile Data 2019 Report by Nendo
    A Nendo Publication THE STATE OF MOBILE DATA 2019 Context, Consumption, Control Contents ACKNOWLEDGEMENTS 03 CONSUMPTION CONTROL BACKGROUND 03 THE 5 S'S OF KENYAN INTERNET USE 24 SOFTWARE 39 THE ATTENTION ECONOMY 04 MINIMISING USAGE 39 SEARCH 25 THE 3 C'S OF THE INTERNET 04 MONITORING 42 SOCIAL 26 ZERO-RATING 42 SPORT 27 CONTEXT WI-FI AND ALTERNATIVE MEANS OF 44 SEX 28 CONNECTIVITY THE MOBILE PHONE AND THE 10 STORIES 28 INFORMATION SUPERHIGHWAY LITE-APPS OVER FULL APPS 46 IN THE BEGINNING WAS THE CYBER CAFÉ 10 INTERNET & MOBILE DATA BUNDLE 30 SWITCHING TO ANDROID GO-EDITION 46 THE MODERN CYBER CAFÉ - TYPE, 12 PRICING - AFFORDABILITY AND 30 TRANSSION & BOOMPLAY 47 REGISTER, PRINT OPTIONS IS THE WEB OPTIMISED FOR 48 BILLING & BYTES: THE CYBER CAFÉ VS 13 THE COST OF ACCESS 31 PREMIUM EXPERIENCES RATHER THE SMARTPHONE ADVERTISING TECHNOLOGY’S 35 THAN MEGABYTECONSTRAINTS? SMARTPHONES, FEATURE PHONES & 13 CONSUMING EFFECT ON MEGABYTES IN BASIC PHONES KENYA RECOMMENDATIONS HOW SMARTPHONES WORK 18 CAVEAT 50 HOW MANY KENYANS ARE ON THE 09 DISCLOSURES 53 INTERNET? END NOTES 54 State of Mobile Data 2019: Introduction 02 About Author Acknowledgements Mark Kaigwa is the Founder of Nendo - a digital My appreciation goes to Wanjiru Kaigwa for her growth consultancy delivering Advisory, Academy support in bringing this report to life and being a and Agency services. As a speaker, he has travelled sounding board throughout the writing process. My to over 37 countries around the world in a quest to thanks to Makena Onjerika for her editorial deliver projects, workshops and insights about assistance.
    [Show full text]
  • Leading Chinese Cross-Border Brands – the Top 50
    Leading Chinese cross-border brands The Top 50 kpmg.com/cn © 2018 KPMG, a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Contents Foreword: KPMG & Facebook 2 Executive summary 4 Methodology 6 Top 50 Chinese global brands 8 Survey commentary 10 Chinese brands going global – business opportunities for SMEs 32 • Thought leader: Yan Zhu, Head, Institute of Internet Industry, Tsinghua University 34 Going global and ensuring market diversification 36 Customer centricity 44 Thought leaders 58 • Kaitian Zeng, Co-founder, 37 Interactive Entertainment 58 • Yue Leng, General Manager, Tmall Global, Alibaba Group 59 • Scott Thiel, Partner, DLA Piper 60 • Gu He, Vice President, Shenzhen Globalegrow E-Commerce Co., Ltd. 62 • Chibo Tang, Managing Director, Gobi Partners 63 • Ethan Wang, Vice President, NetEase 64 • Scott Kronick, Chief Executive, Public Relations & Influence, Asia, Ogilvy 65 • Alen Wu, Vice President, OPPO Mobile; Head of Business, Overseas Markets 66 • Beehong Hong, General Manager, Brand Management Centre, TRANSSION Holdings 67 Acknowledgements 68 About us 69 Contact us 70 Leading Chinese cross-border brands: The Top 50 1 © 2018 KPMG, a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. © 2018 KPMG, a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Foreword Global trade has long been a hallmark of Chinese business culture.
    [Show full text]
  • Construction Machinery
    2 November 2017 Manufacturing Construction Machinery Deutsche Bank Markets Research Asia Industry Date China 2 November 2017 Industrials Construction Manufacturing Machinery Recommendation Change Quality growth ahead instead of quantity Fei Sun, CFA Not too late in the cycle; expect quality growth in 2018 Construction machinery sales bottomed out in 3Q16 and have been growing Research Analyst rapidly, driven mainly by demand from infrastructure projects and replacement +852-2203 6130 orders. We identify the key drivers of construction machinery demand and our Vincent Ha, CFA top-down analysis suggests the industry will deliver moderate growth next year. Research Analyst Zoomlion would have relatively greater operating leverage as the sector continues +852-2203 6247 to recover, and we believe the valuation gap between Lonking and Zoomlion will narrow. We upgrade Zoomlion to Buy, as we expect an earnings rebound in Yuki Lu FY18-19 and asset quality to improve (less bad debt provision). We maintain a Research Associate Hold on Lonking as the positives, such as the ability to gain market share and +852-2203 5925 expand margins, are already factored into its share price. Key Changes Better-than-expected demand with balanced supply Company Target Price Rating According to China Construction Machinery Association (CCMA), excavator/ 1157.HK 3.89 to 4.80 Hold to Buy wheel loader/truck crane sales volume surged 100%/45%/122% in 9M17 amid 3339.HK 2.05 to 3.60 - robust replacement and infrastructure demand. Unlike the oversupply in the Source: Deutsche Bank previous down-cycle, construction machinery supply was balanced this time. This Top picks is because, unlike in 2011, fewer individual contractors have entered the industry, Zoomlion (1157.HK),HKD3.81 Buy allowing more rational market competition.
    [Show full text]
  • Marine Heavy-Lift Operations in China
    CHINA FOCUS Marine heavy-lift operations in China Liang Jinyu Vice-general Manager, Safety Supervision Department, China Shipping Co Xie Jieying, Lecturer, Shanghai Maritime University Following the international financial crisis, as well as cargo operation practices and as large-scale industrial devices and large the global economic structure changed current heavy-lift fleets in the country. vehicles, has increased rapidly. Meanwhile, dramatically. The traditional global many large-scale projects were started market was subdivided into segments in Market for heavy-lift operations in China’s inland and coastal waters: the accordance with consumer requirements. in China Three Gorges project, West-East Natural Therefore, when conventional fleets such After China joined the World Trade Gas Transmission project, high speed rail, as tankers, bulk carriers and containers Organisation (WTO), its market share not to mention marine gas exploration, were struggling for survival, the heavy-lift for industrial products rose from 10% in nuclear power, petrochemical and civil transportation market developed rapidly. 2000 to 25% in 2008, accompanied by an aircraft manufacturing – all needed a large Heavy and bulky cargo items such explosive increase in export and processing quantity of large-scale devices and so as generators, locomotives, drilling rigs trades in European and American gave rise to the growth of exporting and and container cranes have brought about Markets. During the past decade, importing heavy-lift machinery via land revolutionary changes in cargo handling considering the changing government and sea transportation. and marine transportation. New methods strategies and the rapid development and tools have been introduced into the of equipment manufacturing in China, High-speed rail marine industry.
    [Show full text]
  • Handset ODM Industry White Paper
    Publication date: April 2020 Authors: Robin Li Lingling Peng Handset ODM Industry White Paper Smartphone ODM market continues to grow, duopoly Wingtech and Huaqin accelerate diversified layout Brought to you by Informa Tech Handset ODM Industry White Paper 01 Contents Handset ODM market review and outlook 2 Global smartphone market continued to decline in 2019 4 In the initial stage of 5G, China will continue to decline 6 Outsourcing strategies of the top 10 OEMs 9 ODM market structure and business model analysis 12 The top five mobile phone ODMs 16 Analysis of the top five ODMs 18 Appendix 29 © 2020 Omdia. All rights reserved. Unauthorized reproduction prohibited. Handset ODM Industry White Paper 02 Handset ODM market review and outlook In 2019, the global smartphone market shipped 1.38 billion units, down 2.2% year-over- year (YoY). The mature markets such as North America, South America, Western Europe, and China all declined. China’s market though is going through a transition period from 4G to 5G, and the shipments of mid- to high-end 4G smartphone models fell sharply in 2H19. China’s market shipped 361 million smartphones in 2019, a YoY decline of 7.6%. In the early stage of 5G switching, the operator's network coverage was insufficient. Consequently, 5G chipset restrictions led to excessive costs, and expectations of 5G led to short-term consumption suppression. The proportion of 5G smartphone shipments was relatively small while shipments of mid- to high-end 4G models declined sharply. The overall shipment of smartphones from Chinese mobile phone manufacturers reached 733 million units, an increase of 4.2% YoY.
    [Show full text]
  • Section 3: China's Strategic Aims in Africa
    SECTION 3: CHINA’S STRATEGIC AIMS IN AFRICA Key Findings • Beijing has long viewed African countries as occupying a cen- tral position in its efforts to increase China’s global influence and revise the international order. Over the last two decades, and especially under General Secretary of the Chinese Com- munist Party (CCP) Xi Jinping’s leadership since 2012, Beijing has launched new initiatives to transform Africa into a testing ground for the export of its governance system of state-led eco- nomic growth under one-party, authoritarian rule. • Beijing uses its influence in Africa to gain preferential access to Africa’s natural resources, open up markets for Chinese exports, and enlist African support for Chinese diplomatic priorities on and beyond the continent. The CCP flexibly tailors its approach to different African countries with the goal of instilling admira- tion and at times emulation of China’s alternative political and governance regime. • China is dependent on Africa for imports of fossil fuels and commodities constituting critical inputs in emerging technology products. Beijing has increased its control of African commodi- ties through strategic direct investment in oil fields, mines, and production facilities, as well as through resource-backed loans that call for in-kind payments of commodities. This control threatens the ability of U.S. companies to access key supplies. • As the top bilateral financier of infrastructure projects across Africa, China plays an important role in addressing the short- age of infrastructure on the continent. China’s financing is opaque and often comes with onerous terms, however, leading to rising concerns of economic exploitation, dependency, and po- litical coercion.
    [Show full text]
  • The Material Handling Sector in South East Asia
    Material Handling in South East Asia Prepared for Invest Northern Ireland July 2018 © 2018 Orissa International The Material Handling Sector Singapore | Malaysia | Indonesia | Thailand | Philippines Prepared for INVEST NORTHEN IRELAND July 2018 Orissa International Pte Ltd 1003 Bukit Merah Central #05-06 Inno Center, Singapore 159836 Tel: +65 6225 8667 | Fax: +65 6271 9791 [email protected] Disclaimer: All information contained in this publication has been researched and compiled from sources believed to be accurate and reliable at the time of publishing. Orissa International Pte Ltd accepts no liability whatsoever for any loss or damage resulting from errors, inaccuracies or omissions affecting any part of the publication. All information is provided without warranty, and Orissa International Pte Ltd makes no representation of warranty of any kind as to the accuracy or completeness of any information hereto contained. Copyright Notice: © 2018 Orissa International. All Rights Reserved. Permission to Reproduce is Required. Material Handling in South East Asia – July 2018 Table of Contents 1.0 KEY TRENDS IN THE MATERIAL HANDLING EQUIPMENT SECTOR .............................. 9 2.0 SINGAPORE .............................................................................................. 15 2.1 Singapore Country Profile ....................................................................................... 15 2.2 Overview of the Infrastructure / Building & Construction Sector .............................. 16 2.3 Overview of the
    [Show full text]
  • Environmental Monitoring Report
    Environmental Monitoring Report Quarterly Progress Report No. 10 June – August 2016 VIE: Central Mekong Delta Region Connectivity Project Part II/Annexes (pages 58-117) 'This environmental monitoring report is a document of the borrower. The views expressed herein do not necessarily represent those of ADB's Board of Directors, Management, or staff, and may be preliminary in nature. Your attention is directed to the “terms of use” section of this website. In preparing any country program or strategy, financing any project, or by making any designation of or reference to a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area Prepared by Detailed Design and Implementation Support: CDM Smith-WSP-Yoo-shin Consultant Joint Venture for the Socialist Republic of Viet Nam and the Asian Development Bank. QUARTERLY PROGRESS REPORT CW2B Rach Vuot Bridge Launching Voided slab girder Date: 14-08-2016 CW2B Rach Vuot Bridge Launching Voided slab girders Date: 14-08-2016 Quarterly Progress Report # 10 CMDRCP – August 2016 Page 58 QUARTERLY PROGRESS REPORT CW2B Rach Vuot Bridge Fabrication of Voided slab girders Date: 04-08-2016 CW2B Tan Binh Bridge Launching I Girder Date: 05-09-2016 Quarterly Progress Report # 10 CMDRCP – August 2016 Page 59 QUARTERLY PROGRESS REPORT CW2B Tan Binh Bridge Launching I Girder Date: 12-08-2016 CW2B Xang Muc Bridge Construction of Column P1 Date: 06-08-2016 Quarterly Progress Report # 10 CMDRCP –
    [Show full text]
  • Reports Available the European Service
    REPORTS AVAILABLE THE EUROPEAN SERVICE MARKET REPORTS: MONTHLY EQUIPMENT ANALYSES AGRICULTURAL DIESEL ENGINES MOTOR GRADERS TRACTORS France Germany France Germany Germany Italy ROUGH TERRAIN Italy UK LIFT TRUCKS UK France DUMP TRUCKS Germany ASPHALT FINISHERS France Italy Germany Germany UK Italy Italy UK UK SKID-STEER LOADERS BACKHOE LOADERS HYDRAULIC France Europe EXCAVATORS Germany France Italy COMPACTION Germany SUBSCRIPTIONUK SERVICES FOR FURTHER DETAILS, Available on an annual subscription basis and published PLEASE CONTACT: EQUIPMENT Italy monthly, they monitor, analyse and provide objective opinions on these key construction equipment markets. David C.A. Phillips Simon Battersby n WESTERN EUROPE Managing Director Sales Account Manager Off-Highway Research Limited Off-Highway Research Ltd. France UK n CHINA* WHEELED Southfields, Southview Road, Southfields, Southview Road, n INDIA Wadhurst, East Sussex, Wadhurst, East Sussex, * Also available in Chinese language version. TN5 6TP, United Kingdom TN5 6TP, United Kingdom Germany LOADERS T: +44 (0)1892 786 270 T: +44 (0)1892 786 232 Each service is made up of the following elements: F: +44 (0)1892 784 086 F: +44 (0)1892 784 086 Italy MINI EXCAVATORS n COMPANY PROFILESFrance E: [email protected] E: [email protected] n EQUIPMENT ANALYSES www.offhighway.co.uk www.offhighway.co.uk n COUNTRY ANALYSES (Europe only) UK France n MARKET REPORTSGermany CHINA INDIA n ENQUIRY PRIVILEGES SHI Yang Samir Bansal Off-Highway Research Ltd. Off-Highway Research India Germany DATABASEItaly
    [Show full text]
  • Annual Report DBX ETF Trust
    May 31, 2021 Annual Report DBX ETF Trust Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) Xtrackers MSCI All China Equity ETF (CN) Xtrackers MSCI China A Inclusion Equity ETF (ASHX) DBX ETF Trust Table of Contents Page Shareholder Letter ....................................................................... 1 Management’s Discussion of Fund Performance ............................................. 3 Performance Summary Xtrackers Harvest CSI 300 China A-Shares ETF ........................................... 6 Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF .................................. 8 Xtrackers MSCI All China Equity ETF .................................................... 10 Xtrackers MSCI China A Inclusion Equity ETF ............................................ 12 Fees and Expenses ....................................................................... 14 Schedule of Investments Xtrackers Harvest CSI 300 China A-Shares ETF ........................................... 15 Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF .................................. 20 Xtrackers MSCI All China Equity ETF .................................................... 28 Xtrackers MSCI China A Inclusion Equity ETF ............................................ 33 Statements of Assets and Liabilities ........................................................ 42 Statements of Operations ................................................................. 43 Statements of Changes in Net
    [Show full text]
  • A New Stage for Overseas Expansion for China's Equipment
    A New Stage for Overseas Expansion for China’s Equipment Manufacturing Industry Deloitte China Manufacturing Industry Group Deloitte China Research and Insight Centre Preface China's Equipment Manufacturing Industry is one of the country's most important sectors and has historically focused on manufacturing construction machinery, sophisticated machine tools and power equipment. However, China's high dependence on new core technologies as well as its internal lack of innovation capabilities are some of the main issues preventing the industry from reaching its goal of restructuring and upgrading, as well as enhancing its capacity for independent innovation, all of which have been called for under China's 12th Five-Year plan. Given this, equipment manufacturers have been exploring various approaches in order to encourage innovative reforms, such as investing heavily into research and development, improving innovation transformation capabilities, cultivating innovative ideas and establishing innovation mechanisms. In fact, as the global economy increasingly integrates, China’s Equipment Manufacturing sector has begun to play a crucial role in helping allocate global resources. On the one hand, this is the result of China upgrading its equipment manufacturing technologies; on the other hand, the industry itself has benefited from a booming domestic economy which has resulted in huge market demand for equipment manufacturing industry products. Furthermore, despite the recent slowdown in the Chinese economy, such demands are likely to remain. Since the break-out of the global financial crisis, developed economies across the world have taken a new look at their modes of economic development. At the same time, many of them have encouraged a return to manufacturing production as a way to revive previously-languid economies.
    [Show full text]
  • Annual Report
    2018 | Annual Report ® CORPORATE PROFILE Whether paving roads, mining essential commodities or extracting the fuels to satisfy global energy demand, Caterpillar products, services and solutions help improve the lives of people around the world. Customers use our products to build the basic infrastructure that enables higher standards of living so that people have access to water, electricity, roads, bridges, hospitals, schools and so much more. In short, our solutions help our customers build a better world. 104,000 Full-time employees 4 Million+ Products working around the world 168 Global Cat® dealers 19 Years Dow Jones Sustainability ~850,000 Index member Connected assets $27 Million Caterpillar Foundation investments $1.85 Billion in global communities in 2018 Research and development funding Our Strategy for Profitable Growth Services Operational Excellence Expanded Offerings Growing digital- Building upon core Enabling customer success enabled solutions and competencies – safety, through integrated and aftermarket offerings quality, Lean and cost differentiated solutions. to deliver unmatched discipline – to deliver strong value to customers. operational performance. “ The Caterpillar team extended our legacy of more than 90 years by introducing innovative products and services, executing our strategy to deliver long-term profitable growth and shareholder value, and – ultimately – making our customers more successful.” Jim Umpleby Chairman & CEO DEAR FELLOW SHAREHOLDERS Caterpillar’s outstanding performance in 2018 can be summed up by one number: 104,000. That’s the size of our dedicated global team who spent the year innovating and providing solutions that help our customers build a better world. In the process, our team is also building a better Caterpillar.
    [Show full text]