Appendix 1 Overview of the CES P Elite Index Abbreviation CES P Elite

Total Page：16

File Type：pdf, Size：1020Kb

Appendix 1 Overview of the CES P Elite Index Abbreviation CES P Elite Index Code CES CPE Constituents 30 largest Mainland Private Enterprises listed on SEHK, NYSE, NASDAQ or AMEX. Launch Date 23 January 2017 Base Date 31 December 2008 Base Value 1,000 Number of Constituents 30 Calculation and Once a day, after the close of trading Dissemination Frequency Calculation Methodology Free float-adjusted market capitalisation weighted, with a 15% cap Review Frequency Half-yearly End of Day Index (Currency) USD & HKD Total Return Index USD & HKD (Currency) Notes SEHK – The Stock Exchange of Hong Kong Limited NYSE – New York Stock Exchange NASDAQ – NASDAQ Stock Market AMEX – American Stock Exchange USD – US dollar HKD – Hong Kong dollar Appendix 2 CES P Elite Constituents and Weightings (Pro forma and subject to final announcement) (as at 30 December 2016) Stock Weighting Code Stock Name (%) 0700.HK TENCENT HOLDINGS LTD 15.77% BIDU.O BAIDU INC 15.05% BABA.N ALIBABA GROUP HOLDING LTD 14.72% 2318.HK PING AN INSURANCE GROUP CO OF CHINA LTD 8.78% JD.O JD.COM INC 8.30% CTRP.O CTRIP.COM INTERNATIONAL LTD 5.81% NTES.O NETEASE INC 5.72% 1988.HK CHINA MINSHENG BANKING CORP LTD 2.50% 2018.HK AAC TECHNOLOGIES HOLDINGS INC 2.25% 1044.HK HENGAN INTERNATIONAL GROUP CO LTD 1.83% 2007.HK COUNTRY GARDEN HOLDINGS CO LTD 1.64% 0151.HK WANT WANT CHINA HOLDINGS LTD 1.63% VIPS.N VIPSHOP HOLDINGS LTD 1.52% 2313.HK SHENZHOU INTERNATIONAL GROUP HOLDINGS LTD 1.49% 0656.HK FOSUN INTERNATIONAL LTD 1.23% 1211.HK BYD CO LTD 1.14% 1880.HK BELLE INTERNATIONAL HOLDINGS LTD 1.12% 2688.HK ENN ENERGY HOLDINGS LTD 1.05% 2020.HK ANTA SPORTS PRODUCTS LTD 1.00% WUBA.N 58.COM INC 0.93% 0322.HK TINGYI CAYMAN ISLANDS HOLDING CORP 0.92% 0384.HK CHINA GAS HOLDINGS LTD 0.90% 3333.HK CHINA EVERGRANDE GROUP 0.86% 6808.HK SUN ART RETAIL GROUP LTD 0.85% 0960.HK LONGFOR PROPERTIES CO LTD 0.74% 0813.HK SHIMAO PROPERTY HOLDINGS LTD 0.60% 0763.HK ZTE CORP 0.44% 2196.HK SHANGHAI FOSUN PHARMACEUTICAL GROUP CO LTD 0.42% 0241.HK ALIBABA HEALTH INFORMATION TECHNOLOGY LTD 0.42% 3799.HK DALI FOODS GROUP CO LTD 0.37% Total 100.00% .

Copy Link

Recommended publications

Your ROC Directors Unanimously Recommend
11 September 2014 Norton Rose Fulbright Australia ABN 32 720 868 049 Level 15, RACV Tower 485 Bourke Street MELBOURNE VIC 3000 AUSTRALIA Company Announcements Tel +61 3 8686 6000 Australian Securities Exchange Fax +61 3 8686 6505 Level 2 GPO Box 4592, Melbourne VIC 3001 120 King Street MELBOURNE VIC 3000 DX 445 Melbourne nortonrosefulbright.com Direct line +61 3 8686 6710 Email [email protected] Our reference: 2813782 Dear Sir/Madam Proposed takeover bid for all of the ordinary shares in Roc Oil Company Limited We act for a wholly owned subsidiary of Fosun International Limited, Transcendent Resources Limited (Fosun ) in relation to its off-market takeover bid for all of the ordinary shares in Roc Oil Company Limited (ROC ) ( Offer ). On behalf of Fosun, we enclose: (1) a copy of the bidder’s statement dated 11 September 2014 containing the Offer ( Bidder’s Statement ) in accordance with subsection 633(1), item 5 of the Corporations Act 2001 (Cth); and (2) a notice of the date for determining the people to whom information is to be sent in accordance with subsection 633(1), items 6 and 12 of the Corporations Act 2001 (Cth). We note that a copy of the Bidder’s Statement was today sent to the Australian Securities and Investments Commission, and will be sent to ROC today. Yours faithfully James Stewart Partner Norton Rose Fulbright Australia Encl. For personal use only APAC-#24123292-v1 Norton Rose Fulbright Australia is a law firm as defined in the Legal Profession Acts of the Australian states and territory in which it practises.
[Show full text]
China As a Hybrid Influencer: Non-State Actors As State Proxies COI HYBRID INFLUENCE COI
Hybrid CoE Research Report 1 JUNE 2021 China as a hybrid influencer: Non-state actors as state proxies COI HYBRID INFLUENCE COI JUKKA AUKIA Hybrid CoE Hybrid CoE Research Report 1 China as a hybrid influencer: Non-state actors as state proxies JUKKA AUKIA 3 Hybrid CoE Research Reports are thorough, in-depth studies providing a deep understanding of hybrid threats and phenomena relating to them. Research Reports build on an original idea and follow academic research report standards, presenting new research findings. They provide either policy-relevant recommendations or practical conclusions. COI Hybrid Influence looks at how state and non-state actors conduct influence activities targeted at Participating States and institutions, as part of a hybrid campaign, and how hostile state actors use their influence tools in ways that attempt to sow instability, or curtail the sovereignty of other nations and the independence of institutions. The focus is on the behaviours, activities, and tools that a hostile actor can use. The goal is to equip practitioners with the tools they need to respond to and deter hybrid threats. COI HI is led by the UK. The European Centre of Excellence for Countering Hybrid Threats tel. +358 400 253 800 www.hybridcoe.fi ISBN (web) 978-952-7282-78-6 ISBN (print) 978-952-7282-79-3 ISSN 2737-0860 June 2021 Hybrid CoE is an international hub for practitioners and experts, building Participating States’ and institutions’ capabilities and enhancing EU-NATO cooperation in countering hybrid threats, located in Helsinki, Finland. The responsibility for the views expressed ultimately rests with the authors.
[Show full text]
Company Report: Longfor Properties (00960 HK) Van Liu 刘斐凡 Equity Research Equity 公司报告：龙湖地产 (00960 HK) +86 755 23976672 [email protected]
股票研究 Company Report: Longfor Properties (00960 HK) Van Liu 刘斐凡 Equity Research Equity 公司报告：龙湖地产 (00960 HK) +86 755 23976672 [email protected] 28 March 2017 Benign Prospective Fundamentals with Strong Contracted Sales, Reiterate "Buy" 强劲合约销售下的良好基本面展望，重申“买入” 公 2016 underlying net profit missed our expectation. Top line increased by 司 Rating: Buy 15.6% YoY to RMB54,799 mn. Underlying net profit increased 7.0% YoY to Maintained 报 RMB8,169 mn. 评级：买入维持 ( ) 告 The Company is expected to have sustainable revenue growth with Company Report Company stable margins. Contracted sales are likely to experience fast growth despite 目标价 policy tightening. Rental income is expected to grow fast. In addition, a quality 6-18m TP : HK$15.07 Revised from 原目标价: HK$13.22 land bank, appropriate unit land cost (27.6% of ASP in 2016) and low funding costs could result in stable margins. 股价： HK$13.120 Share price The Company is expected to maintain a healthy financial position. We estimate net gearing ratios to gradually decline in 2017-2019 and to maintain Stock performance below 60.0%. 股价表现 We think that Longfor deserves a low NAV discount. We revise up our target price from HK$13.22 to HK$15.07, representing a 24% discount to its 2017E 证 NAV, 7.0x 2017 underlying PER and 1.1x 2017 PBR. Therefore, we reiterate "Buy". Risk: lower-than-expected contracted sales and absent rental income 券 growth. 研究 2016 年核心净利低于预期。总收入同比增长 15.6%到人民币 54,799 百万元。核心净利同比上升 7.0%到人民币 8,169 百万元。报公司预计获得在稳定利润率下的可持续收入增长。尽管政策收紧但合约销售很有可能快速告增长。租金收入将快速增长。另外，有质量的土储，合适的单位土地成本（2016 年销售单 Equity Research Report Research Equity 价的）以及低的财务成本能导致稳定的利润率。 27.6% 公司能够维持一个健康的财务状况。我们预测净资产负债率在 2017-2019 年逐渐降低并维 Change in Share Price 1 M 3 M 1 Y 股价变动 1 个月 3 个月 1 年持在 60.0%以下。 Abs.
[Show full text]
Annual Report
2020 (Incorporated in Hong Kong with limited liability) (Stock Code : 00656) Annual Report Profit Attributable to Owners of the Parent RMB 8,017.9 million Innovation & Win The year 2020 might be the most challenging year for Fosun, yet it was also the best year. After the pandemic, we continue with the “wartime mechanism” and maintain the fighting spirit that we have developed during the global combat against COVID-19. This has resulted in our resilient business performance throughout the year. The pandemic has also allowed us to refine further our capabilities of the Company accumulated over the years for “Industry Operations + Industrial Investment”, FC2M model, globalization and technology innovation. Fosun has thus evolved and become even stronger. The theme of Fosun’s annual report this year is “Innovation & Win”. “Innovation” means Fosun always attaches great importance to innovation. We recognize that we can create world-class products only by increasing investment in innovation and R&D. It is also because of our investment in technology innovation in various industries over the years, as well as leveraging on Fosun’s diversified and globalized business portfolio, the development model of “Industry Operations + Industrial Investment”, and the “wartime” mode that it has upkept since the battle against the pandemic, that together effectively defended the impact brought by the external environment and brought the Group a resilient performance, thereby creating mutually beneficial and win-win situation to all stakeholders. The year 2021 is a new starting point for Fosun’s transformation. Facing the huge opportunities in the industrial internet era, we will continue to create good products and put the operation of customers (C-end) as our top priority to fully unlock the multiplier growth of good products and customer resources in Fosun’s ecosystem.
[Show full text]
STOXX Hong Kong All Shares 50 Last Updated: 01.12.2016
STOXX Hong Kong All Shares 50 Last Updated: 01.12.2016 Rank Rank (PREVIOUS ISIN Sedol RIC Int.Key Company Name Country Currency Component FF Mcap (BEUR) (FINAL) ) KYG875721634 BMMV2K8 0700.HK B01CT3 Tencent Holdings Ltd. CN HKD Y 128.4 1 1 HK0000069689 B4TX8S1 1299.HK HK1013 AIA GROUP HK HKD Y 69.3 2 2 CNE1000002H1 B0LMTQ3 0939.HK CN0010 CHINA CONSTRUCTION BANK CORP H CN HKD Y 60.3 3 4 HK0941009539 6073556 0941.HK 607355 China Mobile Ltd. CN HKD Y 57.5 4 3 CNE1000003G1 B1G1QD8 1398.HK CN0021 ICBC H CN HKD Y 37.7 5 5 CNE1000001Z5 B154564 3988.HK CN0032 BANK OF CHINA 'H' CN HKD Y 32.6 6 7 KYG217651051 BW9P816 0001.HK 619027 CK HUTCHISON HOLDINGS HK HKD Y 32.0 7 6 HK0388045442 6267359 0388.HK 626735 Hong Kong Exchanges & Clearing HK HKD Y 28.5 8 8 CNE1000003X6 B01FLR7 2318.HK CN0076 PING AN INSUR GP CO. OF CN 'H' CN HKD Y 26.5 9 9 CNE1000002L3 6718976 2628.HK CN0043 China Life Insurance Co 'H' CN HKD Y 20.4 10 15 HK0016000132 6859927 0016.HK 685992 Sun Hung Kai Properties Ltd. HK HKD Y 19.4 11 10 HK0883013259 B00G0S5 0883.HK 617994 CNOOC Ltd. CN HKD Y 18.9 12 12 HK0002007356 6097017 0002.HK 619091 CLP Holdings Ltd. HK HKD Y 18.3 13 13 KYG2103F1019 BWX52N2 1113.HK HK50CI CK Property Holdings HK HKD Y 17.9 14 11 CNE1000002Q2 6291819 0386.HK CN0098 China Petroleum & Chemical 'H' CN HKD Y 16.8 15 14 HK0688002218 6192150 0688.HK 619215 China Overseas Land & Investme CN HKD Y 14.8 16 16 HK0823032773 B0PB4M7 0823.HK B0PB4M Link Real Estate Investment Tr HK HKD Y 14.6 17 17 CNE1000003W8 6226576 0857.HK CN0065 PetroChina Co Ltd 'H' CN HKD Y 13.5 18 19 HK0003000038 6436557 0003.HK 643655 Hong Kong & China Gas Co.
[Show full text]
Longfor Properties Co. Ltd. 龍湖地產有限公司 (Incorporated in the Cayman Islands with Limited Liability) (Stock Code: 960)
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. Longfor Properties Co. Ltd. 龍湖地產有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 960) ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2016 FINANCIAL SUMMARY • Contracted sales increased by 61.6% to RMB88.14 billion as compared with that of last year. • Revenue increased by 15.6% to RMB54.80 billion as compared with that of last year, of which the rental income from the property investment business increased by 35.2% to RMB1.91 billion. • Profit attributable to shareholders was RMB9.15 billion. Excluding effects, such as minority interest and valuation gains, core net profit increased by 11.8% to RMB7.76 billion as compared with that of last year. Gross profit margin increased by 1.7% to 29.1%. Core net profit margin attributable to shareholders was 14.2%. • The net debt to equity ratio (net debt divided by total equity) was 53.9%. Cash in hand was RMB17.36 billion. • Total consolidated borrowings amounted to RMB57.87 billion. Average cost of borrowing decreased from 5.74% to 4.92% per annum. Average maturity period of loan was 5.90 years. • Fully diluted earnings per share were RMB1.57. The Board recommends a final dividend of RMB0.466 per share, representing an increase of 30.5% as compared with that of last year.
[Show full text]
Hang Seng Indexes Announces Index Review Results
10 May 2019 Hang Seng Indexes Announces Index Review Results Hang Seng Indexes Company Limited (“Hang Seng Indexes”) today announced the results of its review of the Hang Seng Family of Indexes for the quarter ended 29 March 2019. All changes will be effective on 17 June 2019 (Monday). 1. Hang Seng Index There is no change to the constituents of the Hang Seng Index. The total number of constituents is fixed at 50. The list of constituents is provided in Appendix 1. 2. Hang Seng China Enterprises Index The following constituent changes will be made to the Hang Seng China Enterprises Index. The total number of constituents is fixed at 50. Inclusion: Code Company 291 China Resources Beer (Holdings) Co. Ltd. 960 Longfor Group Holdings Ltd. 2007 Country Garden Holdings Co. Ltd. 2020 ANTA Sports Products Ltd. 2688 ENN Energy Holdings Ltd. Removal: Code Company 753 Air China Ltd. - H Shares 902 Huaneng Power International, Inc. - H Shares 1776 GF Securities Co., Ltd. - H Shares 1816 CGN Power Co., Ltd. - H Shares 2333 Great Wall Motor Co. Ltd. - H Shares The list of constituents is provided in Appendix 2. Changes in constituent companies of the HSCEI will also be applied to the Hang Seng China Enterprises Smart Index. more… Hang Seng Indexes Announces Index Review Results / 2 3. Hang Seng Composite LargeCap & MidCap Index The following constituent changes will be made to the Hang Seng Composite LargeCap & MidCap Index. The total number of constituents will increase from 303 to 304. Inclusion: Code Company Size Industry 1896 Maoyan Entertainment MidCap Consumer Services Following the constituent changes above, the number of constituents in the Hang Seng Composite Index will increase from 485 to 486.
[Show full text]
730661007 HCN Horizons China High Dividend
Summary of Investment Portfolio (continued) Horizons China High Dividend Yield Index ETF (HCN:TSX) Summary of Investment Portfolio As at March 31, 2020 % of ETF's Asset Mix Net Asset Value Net Asset Value Global Equities $ 9,616,772 100.73% Cash and Cash Equivalents 100,527 1.05% Other Assets less Liabilities (170,187) -1.78% $ 9,547,112 100.00% % of ETF's Sector Mix Net Asset Value Net Asset Value Hong Kong Broad Equity Index $ 9,616,772 100.73% Cash and Cash Equivalents 100,527 1.05% Other Assets less Liabilities (170,187) -1.78% $ 9,547,112 100.00% Summary of Investment Portfolio (continued) Horizons China High Dividend Yield Index ETF (HCN:TSX) Summary of Investment Portfolio (continued) As at March 31, 2020 % of ETF’s Top Holdings Net Asset Value Global X Hang Seng High Dividend Yield ETF 100.73% Cash and Cash Equivalents 1.05% Top 25 Securities % Weighting in In the Underlying Index*—Hang Seng High Dividend Yield Index Underlying Index Nine Dragons Paper Holdings Ltd. 4.35% China International Marine Containers (Group) Co. Ltd. 3.37% Kingboard Holdings Ltd. 3.30% Shenzhen International Holdings Ltd. 3.13% Xinyi Glass Holdings Ltd. 3.06% Yuzhou Properties Co. Ltd. 2.89% China Minsheng Banking Corp. Ltd. 2.72% Guangzhou R&F Properties Co. Ltd. 2.65% Lee & Man Paper Manufacturing Ltd. 2.63% China Petroleum and Chemical Corp. (Sinopec) 2.56% China Everbright Ltd. 2.38% Logan Property Holdings Co. Ltd. 2.38% Bank of China Ltd. 2.34% Agricultural Bank of China Ltd.
[Show full text]
Greater China 2019
IR Magazine Awards – Greater China 2019 Winners and nominees AWARDS BY RESEARCH Best overall investor relations (large cap) ANTA Sports Products China Resources Beer WINNER China Telecom China Unicom Shenzhou International Group Holdings Best overall investor relations (small to mid-cap) Alibaba Pictures Group Far East Consortium International WINNER Health and Happiness H&H International Holdings Li-Ning NetDragon Websoft Holdings Best investor relations officer (large cap) ANTA Sports Products Suki Wong Cathay Financial Holdings Yajou Chang & Sophia Cheng China Resources Beer Vincent Tse WINNER China Telecom Lisa Lai China Unicom Jacky Yung Best investor relations officer (small to mid-cap) Agile Group Holdings Samson Chan BizLink Holding Tom Huang Far East Consortium International Venus Zhao WINNER Li-Ning Rebecca Zhang Yue Yuen Industrial (Holdings) Olivia Wang Best IR by a senior management team Maggie Wu, CFO & Daniel Zhang, Alibaba Group CEO Tomakin Lai Po-sing, CFO & China Resources Beer Xiaohai Hou, CEO Xiaochu Wang, CEO & Zhu WINNER China Unicom Kebing, CFO Wai Hung Boswell Cheung, CFO & Far East Consortium International David Chiu, Chairman & CEO Ma Jianrong, CEO & Cun Bo Wang, Shenzhou International Group Holdings CFO AWARDS BY REGION Best in region: China Alibaba Pictures Group ANTA Sports Products China Resources Beer WINNER China Telecom China Unicom Shenzhou International Group Holdings Best in region: Hong Kong AIA Group Far East Consortium International WINNER Health and Happiness H&H International Holdings Yue Yuen
[Show full text]
China Vanke (A-1)
9-314-104 REV: MAY 9, 2014 L Y N N S . P A I N E JOHN MACOMBER K E I T H C H I - H O W O N G China Vanke (A-1) For me, long term is five to ten years. For Wang Shi it’s way out there—beyond imagination. Twenty years ago when Vanke was still a very small company, he already had a very grand vision that I thought was impossible to achieve. Twelve years ago when I became the general manager, we were only a two billion RMB company. He was thinking what Vanke might look like if it's a 100 billion company. I couldn’t have imagined that we’d achieve that goal in less than 10 years. — Yu Liang, President, China Vanke China Vanke president Yu Liang surveyed the densely developed expanse of land below as his plane touched down in the southern city of Shenzhen in November 2011. Yu was eager to get back to the company’s headquarters in the suburbs of Shenzhen after several days on the road meeting with subsidiary heads, construction partners, and government officials across China. Under the leadership of its founder Wang Shi, China Vanke Co. Ltd. (Vanke) had grown from a small trading firm to China’s largest homebuilder, successfully navigating the tumultuous mix of volatile markets and ever-changing government policies that characterized China’s real estate market. For 2011, Vanke expected to sell some 10.7 million square meters of floor area, or more than 120,000 homes valued at over 120 billion RMB (about US $20 billion).1 Nonetheless, the year had been a slow one for the industry, as the central government introduced successive waves of austerity measures to bring down skyrocketing prices.
[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]
Fosun Invested in Cirque Du Soleil
Fosun International (656.HK) 2015 Interim Results Disclaimer This presentation and the presentation materials distributed herewith include forward- looking statements. All statements, other than statements of historical facts, that address activities, events or developments that Fosun International Limited (the “Company”) expects or anticipates will or may occur in the future (including but not limited to projections, targets, estimates and business plans) are forward-looking statements. The Company’s actual results or developments may differ materially from those indicated by these forward-looking statements as a result of various factors and uncertainties, and other risks and factors beyond our control. In addition, the Company makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements. The exchange rates used in this PPT are as of 2015/6/30 (US$/CNY=6.11 EUR/CNY=6.87 HKD/CNY=0.79 EUR/USD=1.12), unless otherwise stated. 1 2015 Interim Results Highlights 2 Business Review 3 Financial Review 4 Appendix 2 Highlight I: Further expanded the scale of insurance investable assets, profit from the insurance segment grew rapidly China Low-interest rates market such as Europe, US and Growth Momentum Japan can facilitate Fosun’s acquisitions into + Global insurance companies Resources Industry Investment Long Integration Fosun investment criteria for overseas insurance Term companies: Leading companies with significant local Capital market shares, controlling stake to be acquired, not Insurance Ecosystem necessarily large scale, priced reasonably, low cost on Low Cost the liability side, potential for increments on the Capital asset side, natural currency hedge; Stable Capital By leveraging the Group’s global investment capabilities and knowledge, the insurance segment enhanced its compliant regulated return significantly.
[Show full text]