DOCSLIB.ORG

Midea Group Co., Ltd. the 2020 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Midea Group Co., Ltd. the 2020 Annual Report The 2020 Annual Report of Midea Group Co., Ltd. Midea Group Co., Ltd. The 2020 Annual Report 30 April 2021 1 The 2020 Annual Report of Midea Group Co., Ltd. Section I Important Statements, Contents and Definitions The Board of Directors, the Supervisory Committee, directors, supervisors and senior management of Midea Group Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee that the information presented in this report is free of any misrepresentations, misleading statements or material omissions, and shall together be wholly liable for the truthfulness, accuracy and completeness of its contents. All directors of the Company attended the Board meeting to review this Annual Report. There are no directors, supervisors, or senior management who do not warrant or who dispute the truthfulness, accuracy and completeness of the contents of this Annual Report. The financial statements for 2020 have been audited by PricewaterhouseCoopers Zhong Tian LLP and have obtained an unqualified audit report. Mr. Fang Hongbo, Chairman of the Board and CEO of the Company and Ms. Zhong Zheng, Director of Finance of the Company, have represented and warranted that the financial statements in this report are true and complete. The Board has considered and approved the following dividend payout plan for the year 2020: based on the 6,916,495,109 shares at the disclosure date of this report (the total share capital of 7,047,686,070 shares minus the repurchased 131,190,961 shares in the repo securities account at that date), it is proposed that the Company should distribute a cash dividend of RMB16 (tax inclusive) per 10 shares to all the shareholders and should not convert capital surplus into share capital. When the profit distribution plan is implemented, if any change occurs to the total shares eligible for profit distribution, the profit distribution plan shall be based on the total shares eligible for profit distribution at the book closure date of the profit distribution, and the dividend per share shall be adjusted under an unchanged total distribution 2 The 2020 Annual Report of Midea Group Co., Ltd. amount. The future plans and some forward-looking statements mentioned in this report shall not be considered as virtual promises of the Company to investors. Therefore, investors are kindly reminded to pay attention to possible investment risks. This report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese version shall prevail. 3 The 2020 Annual Report of Midea Group Co., Ltd. 4 The 2020 Annual Report of Midea Group Co., Ltd. Contents SECTION I IMPORTANT STATEMENTS, CONTENTS AND DEFINITIONS ............................... SECTION II COMPANY PROFILE AND KEY FINANCIAL RESULTS .......................................... SECTION III BUSINESS PROFILE ............................................................................................. SECTION IV PERFORMANCE DISCUSSION AND ANALYSIS .................................................. SECTION V SIGNIFICANT EVENTS .......................................................................................... SECTION VI CHANGES IN SHARES AND INFORMATION ABOUT SHAREHOLDERS ............ SECTION VII INFORMATION ABOUT DIRECTORS, SUPERVISORS, SENIOR MANAGEMENT AND EMPLOYEES............................................................................................ SECTION VIII CORPORATE GOVERNANCE ............................................................................ SECTION IX FINANCIAL REPORT ............................................................................................. SECTION X DOCUMENTS AVAILABLE FOR REFERENCE ...................................................... 5 The 2020 Annual Report of Midea Group Co., Ltd. Definitions Term Definition The “Company”, “Midea”, “Midea Group” or the “Group” Midea Group Co., Ltd. Midea Holding Midea Holding Co., Ltd. TLSC Toshiba Lifestyle Products & Services Corporation KUKA KUKA Aktiengesellschaft Reporting Period 1 January 2020 to 31 December 2020 6 The 2020 Annual Report of Midea Group Co., Ltd. Section II Company Profile and Key Financial Results 1. Corporate Information Stock abbreviation Midea Group Stock code 000333 Stock exchange where the shares of the Company are Shenzhen Stock Exchange listed Name of the Company in 美的集团股份有限公司 Chinese Abbr. of the Company name in 美的集团 Chinese Name of the Company in Midea Group Co., Ltd. English (if any) Abbr. of the Company name in Midea Group English (if any) Legal representative Fang Hongbo Midea Headquarters Building, No. 6 Midea Avenue, Beijiao Town, Shunde District, Registered address Foshan City, Guangdong Province, China Postal code 528311 Midea Headquarters Building, No. 6 Midea Avenue, Beijiao Town, Shunde District, Business address Foshan City, Guangdong Province, China Postal code 528311 Company website http://www.midea.com E-mail [email protected] 2. Contact Us Board Secretary Representative for Securities Affairs Name Jiang Peng You Mingyang Midea Headquarters Building, No. 6 Midea Midea Headquarters Building, No. 6 Midea Address Avenue, Beijiao Town, Shunde District, Avenue, Beijiao Town, Shunde District, Foshan City, Guangdong Province, China Foshan City, Guangdong Province, China Tel. 0757-22607708 0757-23274957 Fax 0757-26605456 E-mail [email protected] 7 The 2020 Annual Report of Midea Group Co., Ltd. 3. Information Disclosure and Place Where the Annual Report Is Kept Newspaper designated by the Company for information China Securities Journal, Securities Times and Shanghai disclosure Securities News Website designated by the China Securities Regulatory Commission (CSRC) for the publication of the Annual http://www.cninfo.com.cn Report Place where the Annual Report of the Company is kept Company Investor Relations Department 4. Company Registration and Alteration Organization code 91440606722473344C Changes in main business activities None since the Company was listed (if any) Changes of controlling shareholder of None the Company (if any) 5. Other Relevant Information Accounting firm engaged by the Company Name of the accounting firm PricewaterhouseCoopers Zhong Tian LLP Business address of the 11/F., PricewaterhouseCoopers Center, 2 Corporate Avenue, 202 Hu Bin Road, accounting firm Huangpu District, Shanghai 200021, PRC Name of accountants writing Yao Wenping and Qiu Xiaoying signatures Sponsor engaged by the Company to continuously perform its supervisory function during the Reporting Period □Applicable √N/A Financial advisor engaged by the Company to continuously perform its supervisory function during the Reporting Period √Applicable □N/A Name of the financial Representative of the Business office of the financial advisor Supervisory period advisor financial advisor Wu Renjun, Chen CITIC Securities Tower, No.8 Zhongxin Jianjian, Li Haoran, Li CITIC Securities Co., Ltd. 3rd Road, Futian District, Shenzhen, 2019.6.21-2020.12.31 Chang, Li Wei and Liu 518048, PRC Kun 8 The 2020 Annual Report of Midea Group Co., Ltd. 6. Key Accounting Data and Financial Indicators Whether the Company performed a retroactive adjustment to or restatement of accounting data □Yes √No 2020-over-2019 2020 2019 2018 change (%) Operating revenue (RMB'000) 284,221,249 278,216,017 2.16% 259,664,820 Net profit attributable to shareholders of 27,222,969 24,211,222 12.44% 20,230,779 the Company (RMB'000) Net profit attributable to shareholders of the Company before non-recurring 24,614,653 22,724,392 8.32% 20,058,155 gains and losses (RMB'000) Net cash flows from operating activities 29,557,117 38,590,404 -23.41% 27,861,080 (RMB'000) Basic earnings per share (RMB/share) 3.93 3.60 9.17% 3.08 Diluted earnings per share (RMB/share) 3.90 3.58 8.94% 3.05 Weighted average ROE (%) 24.95% 26.43% -1.48% 25.66% Change of 31 31 December 31 December December 2020 31 December 2020 2019 over 31 December 2018 2019 Total assets (RMB'000) 360,382,603 301,955,419 19.35% 263,701,148 Net assets attributable to shareholders 117,516,260 101,669,163 15.59% 83,072,116 of the Company (RMB'000) Total share capital of the Company on the last trading session before disclosure: Total share capital of the Company on the last trading 7,047,686,070 session before disclosure (share) Fully diluted earnings per share based on the latest share capital above: Dividend paid to preference shareholders 0 Fully diluted earnings per share based on the latest 3.86 share capital above (RMB/share) 7. Differences in Accounting Data under Domestic and Overseas Accounting Standards 7.1 Differences in the net profit and net assets disclosed in the financial reports prepared under China Accounting Standards (CAS) and International Financial Reporting Standards (IFRS) □Applicable √N/A 9 The 2020 Annual Report of Midea Group Co., Ltd. No such differences for the Reporting Period. 7.2 Differences in the net profit and net assets disclosed in the financial reports prepared under CAS and foreign accounting standards □Applicable √N/A No such differences for the Reporting Period. 7.3 Reasons for the differences □Applicable √N/A 8. Key Financial Results by Quarter RMB'000 2020 Q1 2020 Q2 2020 Q3 2020 Q4 Operating revenue 58,013,031 81,053,991 77,693,764 67,460,463 Net profit attributable to 4,810,977 9,117,318 8,090,006 5,204,668 shareholders of the Company Net profit attributable to shareholders of the Company 4,816,912 8,640,132 7,158,544 3,999,065 before non-recurring gains and losses Net cash flows from operating 7,668,597 10,736,894 6,609,144 4,542,482 activities
Load more

Recommended publications
  • 投英 Tou Ying Tracker 2019
    In collaboration with 投英 Tou Ying Tracker 2019 The latest trends in Chinese investment in the UK Contents Section Page About the Grant Thornton Tou Ying Tracker 3 Introduction 4 The big picture – UK remains preferred destination for Chinese investors 7 Focus on M&A and development capital deals 12 Tou Ying Tracker 2019: the largest Chinese companies in the UK 15 2019 Tou Ying 30: this year’s fastest-growing Chinese companies 17 Get ready to invest in the UK 23 Appendix A – Chinese M&A and development capital investment into the UK in 2019 25 投英 Tou Ying Tracker 2019 About the Grant Thornton 投英 Tou Ying Tracker Our 2019 Tou Ying Tracker, developed in collaboration with Of this population of 800, we then analysed those companies China Daily, identifies the largest Chinese companies in the with a turnover of £5 million or more in both of their last two UK, while the Tou Ying 30 (TY30) identifies the fastest-growing financial years in order to produce the 2019 TY30 list of fastest- companies as measured by percentage revenue growth in the growing Chinese companies in the UK. last year. We would also like to recognise the contribution to the UK To compile the 2019 Tou Ying Tracker, we started by identifying economy of the estimated 13,000 Chinese-owned companies all Chinese-owned companies that have filed an audited and 100 representative offices that fall outside the criteria for revenue figure at Companies House in at least one of the last inclusion in the Tou Ying Tracker.
    [Show full text]
  • Hikvision 2015 Annual Report
    2015 Annual Report HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD. 2015 Annual Report SECURITIES ABBREVIATION: HIKVISION SECURITIES CODE：002415.SZ April 2016 1 2015 Annual Report To Shareholders In 2015, the global security industry was still rapidly upgrading products, involving new technology and product development. The market shares of Chinese security enterprises are further increasing in the global market. Under the circumstances of global macroeconomic volatility and domestic economy downturn, the Company achieved a rapid growth of 46.6% increase in revenue and 25.8% increase in net profits, compared with previous year’s operating results. Since the establishment of the Company, we have maintained a growth over 20% annually in revenue and net profits over the past 13 consecutive years, and a quarter-over-quarter increase in both revenue and net profits. It is known to us that the development of the Company is our long term objective, which means that we need to consider both short-term profits and long-term development and keep a good balance among revenue, profits and operation capabilities. We are firmly committed to the client-centered business philosophy, to create value for clients, and to bring long-term investment returns to our shareholders. We have complete confidence in the Company’s future development. Our confidence is based on our customers’ demands and trust, our commitment to the Company’s original management principle and concept, as well as all the supports received from our shareholders. It is a milestone in the development of the Company that Management Measures for Core Staff’s Investment in Innovative Business（《核心员工跟投创新业务管理办法》）has been approved by the shareholders’ meeting.
    [Show full text]
  • Renault 10 CV 1928 MOTOR
    NEVS-brevet 1 Renault 10 CV 1928 MOTOR – NYTT tisdag 20 augusti Föregående måndag 19 augusti 1. BMW:s knep – kan slippa återkalla brinnande bilar 2. Hårda utsläppskrav på gång: Renaults kassako hotad? 3. Northvolts offensiv: Ska anställa 2 500 personer 4. Viktigaste säkerhetsfunktionen enligt svenskarna 5. Problem för Geely i Kina – försäljningen rasar 6. Premiummodellerna som offras för elbilar och suvar 7. Volkswagen ska skrota hybriderna nu är det eldrift som gäller 8. Volkswagen T-Roc Cabriolet 9. Volkswagen T-Cross på gång som coupé 10. Priset på Skoda Citigo-e avslöjat? 11. Ford kände till strulande växellåda – nu straffar det sig 12. Dubbel effekt och dubbelt vridmoment med nya elmotorn 13. Nu finns Porsche Cayenne med 680 hästar 14. HiPhi 1 – suv med knepigt namn och knepiga dörrar 15. Eldrivna hyperbilar står som spön i backen – här är Karma SC1 16. En McLaren väntas gå för osannolik summa på auktion 17. Mercedes-AMG One försenad till 2021 18. Mercedes laddar för Frankfurt – lovar mängder av nyheter 19. 45 000 har reserverat eldrivna Mini Cooper SE 20. Parkera på laddplats utan att ladda? Då får du skylla dig själv 21. Teslas pickup är på gång – men får tuff konkurrens 22. MG som pickup? Japp, här är Extender! 23. En nedmontering av motorn i nya Toyota Supra 24. Svenska forskare gör biobränsle med solenergi MOTOR ‒ NYTT 20 AUGUSTI 2019 NEVS-brevet 2 25. Här är Lotus nya logga 26. Jaguar XJ220 27. Grattis Chevrolet Bel Air! 28. Columbus Electric 29. Felix Rosenqvist var inblandad i en otäck krasch 30. Föraren anklagas: ”Det är skamligt” 1.
    [Show full text]
  • Prohibited Agreements with Huawei, ZTE Corp, Hytera, Hangzhou Hikvision, Dahua and Their Subsidiaries and Affiliates
    Prohibited Agreements with Huawei, ZTE Corp, Hytera, Hangzhou Hikvision, Dahua and their Subsidiaries and Affiliates. Code of Federal Regulations (CFR), 2 CFR 200.216, prohibits agreements for certain telecommunications and video surveillance services or equipment from the following companies as a substantial or essential component of any system or as critical technology as part of any system. • Huawei Technologies Company; • ZTE Corporation; • Hytera Communications Corporation; • Hangzhou Hikvision Digital Technology Company; • Dahua Technology company; or • their subsidiaries or affiliates, Entering into agreements with these companies, their subsidiaries or affiliates (listed below) for telecommunications equipment and/or services is prohibited, as doing so could place the university at risk of losing federal grants and contracts. Identified subsidiaries/affiliates of Huawei Technologies Company Source: Business databases, Huawei Investment & Holding Co., Ltd., 2017 Annual Report • Amartus, SDN Software Technology and Team • Beijing Huawei Digital Technologies, Co. Ltd. • Caliopa NV • Centre for Integrated Photonics Ltd. • Chinasoft International Technology Services Ltd. • FutureWei Technologies, Inc. • HexaTier Ltd. • HiSilicon Optoelectronics Co., Ltd. • Huawei Device Co., Ltd. • Huawei Device (Dongguan) Co., Ltd. • Huawei Device (Hong Kong) Co., Ltd. • Huawei Enterprise USA, Inc. • Huawei Global Finance (UK) Ltd. • Huawei International Co. Ltd. • Huawei Machine Co., Ltd. • Huawei Marine • Huawei North America • Huawei Software Technologies, Co., Ltd. • Huawei Symantec Technologies Co., Ltd. • Huawei Tech Investment Co., Ltd. • Huawei Technical Service Co. Ltd. • Huawei Technologies Cooperative U.A. • Huawei Technologies Germany GmbH • Huawei Technologies Japan K.K. • Huawei Technologies South Africa Pty Ltd. • Huawei Technologies (Thailand) Co. • iSoftStone Technology Service Co., Ltd. • JV “Broadband Solutions” LLC • M4S N.V. • Proven Honor Capital Limited • PT Huawei Tech Investment • Shanghai Huawei Technologies Co., Ltd.
    [Show full text]
  • Tesi Mazzenga
    Dipartimento di Impresa e Management Cattedra di Management delle Imprese Internazionali IL SETTORE AUTOMOTIVE: LE DETERMINANTI DELLA VELOCITÀ DI INTERNAZIONALIZZAZIONE NEL CONFRONTO TRA VOLVO E TESLA Prof. Antonio Majocchi Prof. Matteo Giuliano Caroli RELATORE CORRELATORE Valerio Mazzenga Matricola: 709011 CANDIDATO Anno accademico 2019/2020 1 ABSTRACT: Il seguente lavoro ha l’obiettivo di individuare i fattori che determinano l’esistenza di imprese Born Globals, imprese che, a differenza del classico modello di internazionalizzazione a stadi, si espandono all’estero molto velocemente. Diverse teorie hanno cercato di dare una spiegazione al fenomeno e il dibattito è ancora irrisolto. Il focus dell’elaborato sarà quindi il confronto tra le tre principali teorie, quella classica delle teorie IE, quella alternativa di Hennart (FSA) e quella di mediazione di Dow, cercando di riportare nuove evidenze a sostegno di una teoria piuttosto che un’altra. La metodologia di analisi utilizzata è quella del “case study” e l’analisi si concentrerà su due imprese appartenenti al settore Automotive, Volvo e Tesla; attraverso uno studio approfondito delle due imprese, dei loro modelli di business e dei manager che le guidano, si studierà l’importanza della presenza di alcuni fattori e la superfluità di altri. Considerando Volvo come esempio di impresa non-BG si evidenzieranno infatti i suoi tratti caratteristici a testimonianza di fattori non sufficienti a garantire una rapida espansione estera. Considerando invece Tesla come esempio di impresa BG, si evidenzieranno i fattori necessari. I risultati dell’analisi saranno infine paragonati alle teorie dibattute e si esprimerà la posizione presa dal seguente elaborato. 2 INDICE INTRODUZIONE…………………………………………………………………………...PAG.
    [Show full text]
  • Stetson Memo Re. Huawei Ban 3.30.21.Pdf
    Office of Grants, Sponsored Research and Strategic Initiatives March 30, 2021 To: Office of Finance (Jeff Margheim), Office of Information Technology (Jose Bernier), Purchasing Department (Valinda Wimer) Copy to: Jennifer A. Baker, Carol Buckels, Sharon Fischer, Robert Hanks, Sidney P. Johnston, Amanda Richards, Richard Tysor Attachments: List of Prohibited Manufacturers and NDAA 889 Flyer Subject: Changes to Office of Management Budget (OMB) Uniform Guidance 2 CFR 200.216 “Huawei Ban” Purpose: This memo provides guidance and additional information from the Office of Grants, Sponsored Research and Strategic Initiatives for Stetson University’s implementation of the OMB issued Final Guidance on Section 889 of the National Defense Authorization Act (NDAA) - amendment to Uniform Guidance 2 CFR 200.216, which bans the use of certain manufacturers by Federal awardees for any Federally-funded contracts, grants, aid and awards. Background: NDAA implemented Part A of Section 889 on August 13, 2019 and Part B on August 13, 2020. These prohibit the use/purchase of certain telecommunications and videos surveillance services or equipment. The key component of this legislation pertaining to Stetson University restricts the use of federal grant and award dollars in accordance with OMB Uniform Guidance 2 CFR 200.216. This memo alerts relevant departments and staff, who procure and utilize services, of the changes applicable for federal grants, contracts, cooperative agreements, and federal assistance awards. Federal Award Restrictions IAW UG 2 CFR 200.216, and Associated Actions Needed: On August 13, 2020, the Office of Management Budget (OMB) issued its Final Guidance on the implementation of Section 889. The amendment to Uniform Guidance 2 CFR 200.216 prohibits using federal funds to enter into, or renew, contracts for equipment, services or systems that use Covered Telecommunications Technologies (CTT) as a substantial or essential component of any system, or as critical technology as part of any system.
    [Show full text]
  • ISSUE 84 / 2020 Freetorial He Great Thing About Being Free Car Mag Is That We Are Just MG India Brand Ambassador That, Free
    Get the Look Should you buy... Communist Chinese Cars? & from companies that work within the People's Republic? We try on some ultra cool T-Shirts with a distinctly Swedish theme which might be turbocharged... freecarmag.co.uk 1 ISSUE 84 / 2020 freetorial He great tHing about being Free Car Mag is tHat we are just MG India brand ambassador that, free. Free to write about what we please. Difcult things. T I was ratHer interested in wHat car manufacturers tHougHt Benedict Cumberbatch about operating in CHina. Sadly, in just about every instance, tHey Had notHing to sHare witH us, wHicH was a sHame. RigHt now cooperating witH a Communist political system would not seem to be tHe most etHical tHing to do. Indeed, unravelling tHemsleves from a globalised system tHat Has caused plenty of supply cHain issues recently would be tHe smart, business tHing to do. For tHe rest of us Bangernomics Mag (www.bangernomics.com) offers a positive way forward. Instead, car manufacturers prefer to stay away from tHe really important issues. THey could of course cHoose to be free. 4 News Events Celebs MeanwHile...say Hello to SHazHad SHeikH wHo Has been writing 8 China Crises about and driving all tHe exciting cars for decades as #browncarguy. See you next time. 10 Made in China 16 Mercedes World 18 Back Seat Driver 19 Future Proof Vauxhall Mokka 22 Saab Tees 23 Wanted Mr Jones Watch 24 Buy Now KIa, SEAT , Skoda 26 Alliance of British Drivers 28 The #Brown Car Guy Column 30 Next Time - BMW Isetta? James Ruppert The Brit Issue EDITOR [email protected] Cover Credits l Fiat • MG Motors India • Saab Tees THE TEAM Editor James Ruppert Publisher Dee Ruppert Backing MAG Sub Editor Marion King Product Tester Livy Ruppert Britain Photographer Andrew Elphick Our 5 point plan Web Design Chris Allen Columnist Shahzad Sheikh ©2020 Free Car Mag Limited is available worldwide Reporter Kiran Parmar witHout any restrictions.
    [Show full text]
  • 12.203 MB (Pdf)
    CSR Compilation Instructions What this report is about This report is, in principle, about Midea Group Co., Ltd. and its subsidiaries. It will be specifically noted in the report if it reports on any entities that are outside Midea Group. For easy expression, all of the terms "Midea Group", "the Company" and "we" in the report refer to "Midea Group Co., Ltd.". Reporting period This report includes the economic, environmental and social activities of Midea Group during 2017 (from January 1 to December 31, 2017), as well as some of the previous or recent related activities. Date of publication March 31, 2018 (the next report is expected to be published in March 2019). Principles for disclosure In the process of selecting contents for the report, Midea Group follows the principles of importance, completeness and comparability of the G3 guidelines proposed by the Global Reporting Initiative, and the report presents information on the economy, society, and environment, focusing on Midea Group’s responsibility for sustainable development on its products, the environment, its staff and business partners, etc. The indicators in this report cover all entities that are effectively controlled or significantly influenced by the Company on financial matters, operational policies and measures, which are consistent with the scope covered by the annual report of the Company. Subject to various objective conditions, the report may not be prepared in a satisfactory manner, but the Company will continue to improve the report in content and format, and publish such a corporate social responsibility (CSR) report every year. Data collection In order to effectively collect data on the work and achievements of each subsidiary regarding the economy, environment, and society in 2017, the data collection was conducted in accordance with the existing work process of the Company.
    [Show full text]
  • Ganfeng Lithium (1772 HK)
    China Materials 5 May 2020 Ganfeng Lithium (1772 HK) Target price: HKD29.00 (from HKD26.00) Share price (5 May): HKD25.95 | Up/downside: +11.8% Upgrade on NEV policy and Tesla’s expansion in China Dennis Ip, CFA (852) 2848 4068 Domestic NEV demand supported by policies and Tesla’s expansion [email protected] Strong 2Q20 guidance with 2Q20 net profit up 2.0-3.4x YoY Anna Lu, CFA (852) 2848 4465 Upgrading to Outperform (2) from Hold (3); lifting TP to HKD29 [email protected] What's new: Ganfeng’s share price has risen by only 4% since the start of Forecast revisions (%) April, but we see catalysts emerging, including: 1) supportive NEV policies, Year to 31 Dec 20E 21E 22E and 2) Tesla’s development in China, which will likely support recovery of Revenue change - 8.0 24.7 Net profit change - 11.2 30.7 its share price despite its weak 1Q20 results (see our memo). We upgrade Core EPS (FD) change - 11.2 30.7 it to Outperform (2) with a TP of HKD29 on 3.5x 12-month forward PBR. Source: Daiwa forecasts What's the impact: Supportive NEV policy and Tesla’s expansion. Share price performance We believe the enactment of a series of positive NEV policies (see P.2) will (HKD) (%) reinforce mainland investors’ interest in EV-related names, and we look for 37 295 more NEV policies (which fit “New Infrastructure” theme of Chinese 29 234 Government, also see P.2) to come during Liang-hui.
    [Show full text]
  • Pacer CSOP FTSE China A50 ETF Schedule of Investments July 31, 2020 (Unaudited) Shares Value COMMON STOCKS - 98.0% Agriculture - 1.6% Muyuan Foodstuff Co Ltd
    Page 1 of 4 Pacer CSOP FTSE China A50 ETF Schedule of Investments July 31, 2020 (Unaudited) Shares Value COMMON STOCKS - 98.0% Agriculture - 1.6% Muyuan Foodstuff Co Ltd. - Class A 9,230 $ 120,977 Wens Foodstuffs Group Co Ltd. - Class A 4,660 15,857 136,834 Auto Manufacturers - 0.7% SAIC Motor Corp Ltd. - Class A 24,600 64,077 Banks - 23.7% Agricultural Bank of China Ltd. - Class H 352,300 163,039 Bank of China Ltd. - Class H 193,900 92,512 Bank of Communications Co Ltd. - Class A 184,100 125,556 China CITIC Bank Corp Ltd. - Class H 24,700 18,261 China Construction Bank Corp. - Class H 81,500 71,464 China Everbright Bank Co Ltd. - Class H 126,400 68,456 China Merchants Bank Co Ltd. - Class A 108,200 539,489 China Minsheng Banking Corp Ltd. - Class A 254,300 201,851 Industrial & Commercial Bank of China Ltd. - Class A 198,400 140,993 Industrial Bank Co Ltd. - Class A 127,400 285,849 Ping An Bank Co Ltd. - Class A 75,000 143,348 Shanghai Pudong Development Bank Co Ltd. - Class A 132,300 196,379 2,047,197 Beverages - 17.9% Jiangsu Yanghe Brewery Joint-Stock Co Ltd. - Class A 4,000 77,398 Kweichow Moutai Co Ltd. - Class A 4,000 961,777 Wuliangye Yibin Co Ltd. - Class A 16,200 504,835 1,544,010 Building Materials - 1.6% Anhui Conch Cement Co Ltd. - Class H 15,900 139,921 Coal - 0.5% China Shenhua Energy Co Ltd.
    [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]
  • Kweichow Moutai Growth Declines on Slow Deliveries
    CHINA DAILY Tuesday, October 30, 2018 BUSINESS 17 Kweichow Moutai growth Execs optimistic on import expo By WANG YING in Shanghai products, their know-how, “Shanghai has become a [email protected] and how interesting they are vital center for advanced as a company,” said Brian technology leadership — for Top multinational corpora- Duperreault, president, CEO ABB and the world ... We will tions’ executives have and director of finance cor- make full use of the city’s declines on slow deliveries expressed their enthusiasm poration American Interna- existing advantages and for the first China Internation- tional Group Inc. make clear the main challen- al Import Expo set to launch According to Severin ges facing Shanghai, focus Share price of on Nov 5, as part of the nation’s Schwan, CEO of Roche Group, support policies on measures efforts to expand opening-up. the pharmaceuticals giant that can address the challen- liquor maker slips While attending the 30th will showcase its cutting-edge ges, and develop specific but consumption International Business Lead- technology at the import plans and solutions,” Spies- ers’ Advisory Council, held expo, covering early research shofer said, explaining the upgrades to buoy annually in Shanghai, busi- and development, integrated company’s rationale. ness leaders said they are diagnosis and treatment solu- “We are not only seeing future prospects optimistic about China’s tions, and personalised progress in Shanghai’s reform opening-up policy and new healthcare offerings. and opening-up, but we at By ZHU WENQIAN in Beijing opportunities. Roche are taking an active role and YANG JUN in Guiyang “The import expo is in the development of China’s unprecedented in China for biomedical industry.
    [Show full text]