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Three Red Lines” Policy
Real Estate Developers with High Leverage to See Inventory Quality Tested Under Broader “Three Red Lines” Policy October 28, 2020 In our view, the widening of regulations aimed at controlling real estate developers’ interest- ANALYSTS bearing debt would further reduce the industry’s overall credit risk in the long term. However, the nearer term may see less headroom for highly leveraged developers to finance in the capital Xiaoliang Liu, CFA market, pushing them to sell off inventory to ease liquidity pressure. Beijing +86-10-6516-6040 The People’s Bank of China said in September that measures aimed at monitoring the funding [email protected] and financial management of key real estate developers will steadily be expanded. Media reports suggest that the new regulations would see a cap of 15% on annual growth of interest-bearing Jin Wang debt for all property developers. Developers will be assessed against three indicators, which are Beijing called “red lines”: whether asset liability ratios (excluding advance) exceeded 70%; whether net +86-10-6516-6034 gearing ratio exceeded 100%; whether cash to short-term debt ratios went below 1.0. Developers [email protected] which breached all three red lines won’t be allowed to increase their debt. If only one or two of the red lines are breached, such developers would have their interest-bearing debt growth capped at 5% and 10% respectively. The first half of the year saw debt grow rapidly among developers. In a sample of 87 real estate developers that we are monitoring, more than 40% saw their interest-bearing debt grow at a faster rate than 15% year over year as of the end of June (see the chart below). -
DFA INVESTMENT DIMENSIONS GROUP INC Form NPORT-P Filed 2021-03-25
SECURITIES AND EXCHANGE COMMISSION FORM NPORT-P Filing Date: 2021-03-25 | Period of Report: 2021-01-31 SEC Accession No. 0001752724-21-062357 (HTML Version on secdatabase.com) FILER DFA INVESTMENT DIMENSIONS GROUP INC Mailing Address Business Address 6300 BEE CAVE ROAD 6300 BEE CAVE ROAD CIK:355437| IRS No.: 363129984 | State of Incorp.:MD | Fiscal Year End: 1031 BUILDING ONE BUILDING ONE Type: NPORT-P | Act: 40 | File No.: 811-03258 | Film No.: 21771544 AUSTIN TX 78746 AUSTIN TX 78746 (512) 306-7400 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document DFA INVESTMENT DIMENSIONS GROUP INC. FORM N-Q REPORT January 31, 2021 (UNAUDITED) Table of Contents DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES T.A. U.S. Core Equity 2 Portfolio Tax-Managed DFA International Value Portfolio T.A. World ex U.S. Core Equity Portfolio VA U.S. Targeted Value Portfolio VA U.S. Large Value Portfolio VA International Value Portfolio VA International Small Portfolio VA Short-Term Fixed Portfolio VA Global Bond Portfolio VIT Inflation-Protected Securities Portfolio VA Global Moderate Allocation Portfolio U.S. Large Cap Growth Portfolio U.S. Small Cap Growth Portfolio International Large Cap Growth Portfolio International Small Cap Growth Portfolio DFA Social Fixed Income Portfolio DFA Diversified Fixed Income Portfolio U.S. High Relative Profitability Portfolio International High Relative Profitability Portfolio VA Equity Allocation Portfolio DFA MN Municipal Bond Portfolio DFA California Municipal Real Return Portfolio DFA Global Core Plus Fixed Income Portfolio Emerging Markets Sustainability Core 1 Portfolio Emerging Markets Targeted Value Portfolio DFA Global Sustainability Fixed Income Portfolio DFA Oregon Municipal Bond Portfolio NOTES TO FINANCIAL STATEMENTS Organization Security Valuation Financial Instruments Federal Tax Cost Recently Issued Accounting Standards Other Subsequent Event Evaluations Table of Contents TABLE OF CONTENTS CONTINUED THE DFA INVESTMENT TRUST COMPANY SCHEDULES OF INVESTMENTS The U.S. -
In the United States District Court for the Eastern District of Texas Marshall Division Fundamental Innovation Systems Internati
Case 2:20-cv-00117 Document 1 Filed 04/23/20 Page 1 of 24 PageID #: 1 IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF TEXAS MARSHALL DIVISION FUNDAMENTAL INNOVATION SYSTEMS INTERNATIONAL LLC, Plaintiff, Civil Action No. 2:20-cv-00117 vs. COOLPAD GROUP LIMITED, COOLPAD JURY TRIAL DEMANDED TECHNOLOGIES, INC., and YULONG COMPUTER TELECOMMUNICATION SCIENTIFIC (SHENZHEN) CO. LTD., Defendants. COMPLAINT FOR PATENT INFRINGEMENT AND JURY DEMAND Plaintiff Fundamental Innovation Systems International LLC (“Plaintiff” or “Fundamental”), by and through its undersigned counsel, brings this action against Defendants Coolpad Group Limited, Coolpad Technologies, Inc., and Yulong Computer Telecommunication Scientific (Shenzhen) Co. Ltd. (collectively “Defendants” or “Coolpad”) to prevent Defendants’ continued infringement of Plaintiff’s patents without authorization and to recover damages resulting from such infringement. PARTIES 1. Plaintiff is a Delaware limited liability company with a place of business located at 2990 Long Prairie Road, Suite B, Flower Mound, Texas 75022. 2. Plaintiff is the owner by assignment of all right, title, and interest in U.S. Patent Nos. 7,239,111 (the “’111 Patent”), 8,624,550 (the “’550 Patent”), 7,834,586 (the “’586 Patent”), 8,232,766 (the “’766 Patent”), and 7,986,127 (the “’127 Patent”) (collectively, the “Patents-in- Suit”). 06904-00001/12059581.3 Case 2:20-cv-00117 Document 1 Filed 04/23/20 Page 2 of 24 PageID #: 2 3. On information and belief, Defendant Coolpad Group Limited is a company duly organized and existing under the laws of the Cayman Islands, with a place of business located at Coolpad Information Harbor, No. -
Vendors Embrace Livestreaming Xiaomi Unveils Brands Adopt New Gadgets to Broadcasting for Their Product Promotion During Woo Customers
16 | Thursday, November 7, 2019 HONG KONG EDITION | CHINA DAILY BUSINESS Vendors embrace livestreaming Xiaomi unveils Brands adopt new gadgets to broadcasting for their product promotion during woo customers Nov 11 festival By MA SI presales phase [email protected] Xiaomi is trying to Xiaomi Corp’s intensified push By HE WEI in Shanghai for highperformance handsets roll out cuttingedge [email protected] will help it safeguard its presence handsets to regain in the Chinese smartphone mar It is again the time of the year to ket amid intensifying competition the market share it splurge on the Nov 11 shopping gala, from Huawei Technologies Co, lost to Huawei, the annual mecca when brands analysts said. unveil flashy ads and meticulous The comments came after Xiao especially as the discount plans to grab people’s eye mi unveiled its latest smartphone Chinese smartphone balls and wallets. model CC9 Pro featuring a 108 Eleven years into its existence, megapixel camera on Tuesday. At market continues to excitement for the buying spree may the same launch event, the compa see a decline in eventually begin to wear off. But to ny also unveiled its first Xiaomi keep consumers on an adrenaline A hostess promotes sales through interaction with customers online during an event organized by brand smart watch. shipments.” rush to shop, merchants and ecom Tmall in Shanghai on Oct 25. QIN TIAN / FOR CHINA DAILY “Xiaomi is trying to roll out cut Xiang Ligang, directorgeneral merce sites have crept into new ter tingedge handsets to regain the of the Information Consumption ritory by kicking their game up a market share it lost to Huawei, Alliance notch through livestreaming. -
A Relatively Cautious View for 2019, Reiterate "Accumulate"
股 票 研 [Table_Title] Company Report: China Merchants Port (00144 HK) Spencer Fan 范明 究 (86755) 2397 6686 Equity Research 公司报告: 招商局港口 (00144 HK) [email protected] 10 May 2019 A[Table_S Relativelyummary ]Cautious View for 2019, Reiterate "Accumulate" 对2019年维持相对谨慎,重申“收集” The Company's management guided low single-digit growth in 2019. On [Table_Rank] the other hand, the management predicts that the Company's main driving Rating: Accumulate Maintained force in 2019 will come from the overseas segment, and it expects overseas 公 container volume to record medium-to-high single-digit YoY growth in 2019. 评级: 收集 (维持) 司 Domestic port container loading and unloading operation fee might not be 报 greatly adjusted in 2019, while handling fees of some overseas ports might increase. Overall, we expect CMP's port business to generate low single-digit [Table_Price] 告 6-18m TP 目标价: HK$16.80 YoY revenue growth in 2019. Revised from 原目标价: HK$17.00 Company Report Qianhai land ready to release value; the disposal of land interests is Share price 股价: HK$15.120 expected to bring about HK$3.58 billion in after-tax income. We believe that China Merchants Port will benefit indirectly from the long-term development of Shenzhen’s Qianhai Shekou Free Trade Zone. It is Stock performance understood that Qianhai Land will still be developed in accordance with the 股价表现 mature development model of the "Port-Zone-City" of China Merchants [Table_QuotePic] Group. % of return 10.0 Reiterate "Accumulate" rating and adjust TP to HK$16.80. CMP’s port 5.0 resources are still balanced, and we still favor CMP's overseas development 0.0 capability. -
GC Influencers Have Been Chosen Following Research Among Private Practice Lawyers and Other In-House Counsel
v GC Influencers CHINA 2019 Friday, 11th January 2019 JW Marriott Hotel, Hong Kong Programme Engaging content, networking and celebration with leading General Counsel and top ranked lawyers globally. GC Influencers For more informationCHINA visit 2019 chambers.com A5-Advert-Forums.idml 1 22/10/2018 12:17 Welcome SARAH KOGAN Editor Chambers Asia-Pacific Meet the most influential General Counsel in China today. Chambers has provided insight into the legal profession for over 30 years. During this time, in-house lawyers and third-party experts have shared their views on the value and importance placed on the role of the General Counsel. No longer just the ethical and legal heart of a business, these professionals now sit as influential participants at board level. Effective managers, industry pioneers, diversity and CSR champions: these Influencers show the way. Research Methodology: Our GC Influencers have been chosen following research among private practice lawyers and other in-house counsel. We identified the key areas in which GCs have displayed substantial influence: Engaging content, • Effective management and development of an in-house team • Navigation of substantial business projects such as M&A or strategic networking and business change. • Development of litigation strategy and understanding the pressures faced celebration with leading within industry General Counsel and top • Bringing diversity & inclusion and CSR to the forefront of industry. ranked lawyers globally. • Ability to influence and respond to regulatory change Our aim is to celebrate excellence within the legal profession. This dynamic hall of fame encourages collaboration among the in-house legal community. Our GC Influencers have created best practice pathways endorsed by both private practice and other in-house lawyers. -
Shenzhen Chiwan Petroleum Supply Base Co., Ltd
ANNUAL REPORT FOR YEAR 2015 SHENZHEN CHIWAN PETROLEUM SUPPLY BASE CO., LTD. ANNUAL REPORT FOR YEAR 2015 April 2016 1 ANNUAL REPORT FOR YEAR 2015 PART Ⅰ Important Notice The Board of Directors, the Board of Supervisors, directors, supervisors and senior management guarantee that there are no omissions, misstatement or misleading information in this report. They are responsible, individually and jointly, for the authenticity, accuracy and integrity of the information herein. Mr. Tian Junyan, Chairman of the Board, Ms. Yu Zhongxia, Deputy General Manager &Financial Controller, and Ms. Sun Yuhui, Financial Manager, guarantee the authenticity and integrity of the financial result in this report. Except the following directors, other directors attend the Board Meeting. Absent Director Post of the Absent Director Reason Authorized Person Mr. Mingzhi Mei Director Business Arrangement Wang Shiyun Mr. Kent Yang Director Business Arrangement Shu Qian This annual report contains prospective descriptions, which does not constitute substantial commitment to investors. Investors are requested to be aware of the risks attached to their investment decisions. Impossible risk has been well-described in this report. Please find details of risks and countermeasures of future development described in Section IX, Part IV. Securities Times, Hong Kong Commercial Daily and www.cninfo.com.cn are the media designated for disclosing our information. All the Company’s information is subject to the information disclosed in the aforesaid media as designated. The Company will not distribute cash dividends or bonus shares, neither capitalizing of common reserves for the report period. This report is prepared both in Chinese and English languages, when ambiguity occurs in the two versions, the Chinese version shall prevail. -
Costs and Benefits of Shore Power at the Port of Shenzhen
WHITE PAPER DECEMBER 2015 COSTS AND BENEFITS OF SHORE POWER AT THE PORT OF SHENZHEN Haifeng Wang, Ph.D., Xiaoli Mao, and Dan Rutherford, Ph.D. www.theicct.org [email protected] BEIJING | BERLIN | BRUSSELS | SAN FRANCISCO | WASHINGTON ACKNOWLEDGEMENTS This report was commissioned by the China Environment Forum (CEF) at the Woodrow Wilson International Center for Scholars as part of its Choke Point: Port Cities initiative, funded by the Henry Luce Foundation. The authors thank Irene Kwan and Simon Ng for their technical support and Tim Leong for his critical review of the work. The authors also especially thank Shenzhen Human Settlements and Environmental Committee and the Port of Oakland for their review and recommendations for the report. ABOUT THE CHINA ENVIRONMENT FORUM (CEF) Since 1997, the China Environment Forum (CEF) has been the “go-to” resource for convening policy, business, research, and NGO practitioners on the most pressing energy, water, and pollution problems facing China. Through meetings, publications, and exchanges, they play a unique nonpartisan role in creating multistakeholder dialogues around China’s energy and environmental challenges, identifying new areas of collaboration. CEF’s work is frequently featured in mainstream media, including: The New York Times, The Wall Street Journal, The Washington Post, BBC News, The Guardian, Bloomberg Businessweek, and Foreign Policy. For additional information: International Council on Clean Transportation 1225 I Street NW Suite 900 Washington, DC 20005 USA [email protected] -
China Consumer Close-Up
January 13, 2015 The Asian Consumer: A new series Equity Research China Consumer Close-up The who, what and why of China’s true consumer class Few investing challenges have proven more elusive than understanding the Chinese consumer. Efforts to translate the promise of an emerging middle class into steady corporate earnings have been uneven. In the first of a new series on the Asian consumer, we seek to strip the problem back to the basics: Who are the consumers with spending power, what drives their consumption and how will that shift over time? The result is a new approach that yields surprising results. Joshua Lu Goldman Sachs does and seeks to do business with +852-2978-1024 [email protected] companies covered in its research reports. As a result, Goldman Sachs (Asia) L.L.C. investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Sho Kawano Investors should consider this report as only a single factor +81(3)6437-9905 [email protected] Goldman Sachs Japan Co., Ltd. in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Becky Lu Appendix, or go to www.gs.com/research/hedge.html. +852-2978-0953 [email protected] Analysts employed by non- US affiliates are not registered/ Goldman Sachs (Asia) L.L.C. qualified as research analysts with FINRA in the U.S. January 13, 2015 Asia Pacific: Retail Table of contents PM Summary: A holistic view of the Asian consumer 3 China’s cohort in a regional context (a preview of India and Indonesia) 8 What they are buying and what they will buy next: Tracking 7 consumption desires 11 Seven consumption desires in focus 14 1. -
China Chuanglian Education Financial Group Limited 中國創聯教育金融集團有限公司
China Chuanglian Education Financial Group Limited 中國創聯教育金融集團有限公司 年報 Annual Report 2017 2017 A N N U A L R E P O R T 2 0 17 中國創聯教育金融集團有限公司 年報 China Chuanglian Education Financial Group Limited (前稱「中國創聯教育集團有限公司」) (formerly known as “China Chuanglian Education Group Limited”) (於開曼群島註冊成立之有限公司 ) (incorporated in the Cayman Islands with limited liability) (股份代號:2371) (Stock Code: 2371) Page Contents Corporate Information 2 Financial Summary 3 Chairman’s Statement 4 Management Discussion and Analysis 7 Biographical Details of Directors and Senior Management 20 Corporate Governance Report 23 Environmental, Social and Governance Report 35 Report of the Directors 47 Independent Auditor’s Report 61 Consolidated Statement of Profit or Loss and 68 Other Comprehensive Income Consolidated Statement of Financial Position 70 Consolidated Statement of Changes in Equity 72 Consolidated Statement of Cash Flows 74 Notes to the Consolidated Financial Statements 76 Corporate Information Executive Directors Principal Bankers Mr. LU Xing (Chairman of the Board) Citibank, N.A. Mr. LI Jia Mr. WU Xiaodong Registered Office Mr. WANG Cheng Cricket Square Mr. LI Dongfu Hutchins Drive P.O. Box 2681 Independent Non-executive Directors Grand Cayman KY1-1111 Mr. LEUNG Siu Kee Cayman Islands Mr. WU Yalin Ms. WANG Shuping Principal Place of Business in Hong Kong Room 905–06, 9/F., Company Secretary China Evergrande Centre Mr. SUNG Chi Keung 38 Gloucester Road Wanchai, Hong Kong Audit Committee Principal Share Registrar and Transfer Office Mr. LEUNG Siu Kee (Chairman of the Audit Committee) SMP Partners (Cayman) Limited Mr. WU Yalin Royal Bank House — 3rd Floor Ms. WANG Shuping 24 Shedden Road P.O. -
Annual Report
CREATIVE ENERGY SOLUTIONS HOLDINGS LIMITED CREATIVE 科瑞控股有限公司 CREATIVE ENERGY SOLUTIONS HOLDINGS LIMITED ( 於百慕達註冊成立之有限公司) (Incorporated in Bermuda with limited liability) 科瑞控股有限公司 Annual Report 2003 年年報 2003 2003 年 報 Annual Report CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET (“GEM”) OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE “STOCK EXCHANGE”) GEM has been established as a market designed to accommodate companies to which a high investment risk may be attached. In particular, companies may list on GEM with neither a track record of profitability nor any obligation to forecast future profitability. Furthermore, there may be risks arising out of the emerging nature of companies listed on GEM and the business sectors or countries in which the companies operate. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors. Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM. The principal means of information dissemination on GEM is publication on the internet website operated by the Stock Exchange. Listed companies are not generally required to issue paid announcements in gazetted newspapers. Accordingly, prospective investors should note that they need to have access to the GEM website in order to obtain up-to-date information on GEM listed issuers. -
An All-Time Record 97 Buildings of 200 Meters Or Higher Completed In
CTBUH Year in Review: Tall Trends All building data, images and drawings can be found at end of 2014, and Forecasts for 2015 Click on building names to be taken to the Skyscraper Center An All-Time Record 97 Buildings of 200 Meters or Higher Completed in 2014 Report by Daniel Safarik and Antony Wood, CTBUH Research by Marty Carver and Marshall Gerometta, CTBUH 2014 showed further shifts towards Asia, and also surprising developments in building 60 58 14,000 13,549 2014 Completions: 200m+ Buildings by Country functions and structural materials. Note: One tall building 200m+ in height was also completed during 13,000 2014 in these countries: Chile, Kuwait, Malaysia, Singapore, South Korea, 50 Taiwan, United Kingdom, Vietnam 60 58 2014 Completions: 200m+ Buildings by Countr5,00y 0 14,000 60 13,54958 14,000 13,549 2014 Completions: 200m+ Buildings by Country Executive Summary 40 Note: One tall building 200m+ in height was also completed during ) Note: One tall building 200m+ in height was also completed during 13,000 60 58 13,0014,000 2014 in these countries: Chile, Kuwait, Malaysia, Singapore, South Korea, (m 13,549 2014 in these Completions: countries: Chile, Kuwait, 200m+ Malaysia, BuildingsSingapore, South byKorea, C ountry 50 Total Number (Total = 97) 4,000 s 50 Taiwan,Taiwan, United United Kingdom, Kingdom, Vietnam Vietnam Note: One tall building 200m+ in height was also completed during ht er 13,000 Sum of He2014 igin theseht scountries: (Tot alChile, = Kuwait, 23,333 Malaysia, m) Singapore, South Korea, 5,000 mb 30 50 5,000 The Council