Annual Report 2019 3 FINANCIAL HIGHLIGHTS
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Offshore Wind Diffusion
energies Article The (R)evolution of China: Offshore Wind Diffusion Thomas Poulsen 1,* and Charlotte Bay Hasager 2 ID 1 Department of Materials and Production, Aalborg University, A.C. Meyers Vænge 15, 2450 Copenhagen SV, Denmark 2 Department of Wind Energy, Technical University of Denmark, Risø Campus, Frederiksborgvej 399, 4000 Roskilde, Denmark; [email protected] * Correspondence: [email protected] or [email protected]; Tel.: +45-2383-1621 or +45-212-661-88 Received: 30 October 2017; Accepted: 13 December 2017; Published: 16 December 2017 Abstract: This research presents an industry level gap analysis for Chinese offshore wind, which serves as a way to illuminate how China may fast track industry evolution. The research findings provide insight into how the Chinese government strongly and systematically decrees state-owned Chinese firms to expand into overseas markets to speed up learning efforts. Insights are offered regarding the nation-level strategic plans and institutional support policies mobilized by China in order to be able to conquer market shares internationally by building a strong home market and then facilitating an end-to-end and fully financed export solution. This is interesting in itself and in particular so because it now also includes complex billion-dollar megaprojects such as turnkey offshore wind farm assets with an expected lifespan of 30+ years. Research findings are provided on how European and Chinese firms may successfully forge long-term alliances also for future Chinese wind energy export projects. Examples of past efforts of collaboration not yielding desired results have been included as well. At policy level, recommendations are provided on how the evolution of the Chinese offshore wind power industry can be fast-tracked to mirror the revolutionary pace, volume, and velocity which the Chinese onshore wind power industry has mustered. -
Hang Seng Indexes Announces Index Review Results
14 August 2020 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 30 June 2020. All changes will take effect on 7 September 2020 (Monday). 1. Hang Seng Index The following constituent changes will be made to the Hang Seng Index. The total number of constituents remains unchanged at 50. Inclusion: Code Company 1810 Xiaomi Corporation - W 2269 WuXi Biologics (Cayman) Inc. 9988 Alibaba Group Holding Ltd. - SW Removal: Code Company 83 Sino Land Co. Ltd. 151 Want Want China Holdings Ltd. 1088 China Shenhua Energy Co. Ltd. - H Shares The list of constituents is provided in Appendix 1. The Hang Seng Index Advisory Committee today reviewed the fast expanding innovation and new economy sectors in the Hong Kong capital market and agreed with the proposal from Hang Seng Indexes to conduct a comprehensive study on the composition of the Hang Seng Index. This holistic review will encompass various aspects including, but not limited to, composition and selection of constituents, number of constituents, weightings, and industry and geographical representation, etc. The underlying aim of the study is to ensure the Hang Seng Index continues to serve as the most representative and important benchmark of the Hong Kong stock market. Hang Seng Indexes will report its findings and propose recommendations to the Advisory Committee within six months. The number of constituents of the Hang Seng Index may increase during this period. Hang Seng Indexes Announces Index Review Results /2 2. -
2016 Top 250 International Contractors – Subsidiaries by Rank Rank Company Subsidiary Rank Company Subsidiary
Overview p. 38 // International Market Analysis p. 38 // Past Decade’s International Contracting Revenue p. 38 // International Region Analysis p. 39 // 2015 Revenue Breakdown p. 39 // 2015 New Contracts p. 39 // Domestic Staff Hiring p. 39 // International Staff Hiring p. 39 // Profit-Lossp. 40 // 2015 Backlog p. 40 // Top 10 by Region p. 40 // Top 10 by Market p. 41 // Top 20 Non-U.S. International Construction/Program Managers p. 42 // Top 20 Non-U.S. Global Construction/Program Managers p. 42 // VINCI Builds a War Memorial p. 43 // How Contractors Shared the 2015 Market p. 44 // How To Read the Tables p. 44 // Top 250 International Contractors List p. 45 // International Contractors Index p. 50 // Top 250 Global Contractors List p. 53 // Global Contractors Index p. 58 THE FALCON EMERGES Turkey’s Polimeks is building the NUMBER 40 $2.3-billion Ashgabot International Airport in Turkmenistan. The terminal shape is based on a raptor species. PHOTO COURTESY OF POLIMAEKS INSAATTAAHUT VE SAN TIC. AS TIC. VE SAN OF POLIMAEKS INSAATTAAHUT PHOTO COURTESY International Contractors Seeking Stable Markets Political and economic uncertainty in several regions have global firms looking for markets that are reliable and safe By Peter Reina and Gary J. Tulacz enr.com August 22/29, 2016 ENR 37 0829_Top250_Cover_1.indd 37 8/22/16 3:52 PM THE TOP 250 INTERNATIONAL CONTRACTORS 27.9% Transportation $139,563.9 22.9% Petroleum 21.4% Int’l Market Analysis $114,383.2 Buildings $106,839.6 (Measured $ millions) 10.8% Power $54,134.5 6.0% Other 2.2% 4.1% $29,805.5 0.8% Manufacturing Industrial Telecom $10,808.9 $20,615.7 $ 4,050.5 2.8% 0.2% 1.0% Water Hazardous Sewer/Waste $13,876.8 Waste $4,956.0 $1,210.5 SOURCE: ENR DATA. -
Decarbonizing the Belt and Road a GREEN FINANCE ROADMAP
EMBARGOED UNTIL SEPTEMBER 2ND AT 09:00 UTC + 08:00 SEPT 2019 Decarbonizing the Belt and Road A GREEN FINANCE ROADMAP IN ASSOCIATION WITH ABOUT THIS REPORT CONTRIBUTING AUTHORS Decarbonizing the Belt and Road: A Green Finance Roadmap provides a Tsinghua University: Tianyin Sun (Research Fellow) Shouqing Zhu world-first view of potential carbon scenarios across the 126 countries involved (Visiting Research Fellow) and Lin Cheng (Research Fellow) in China’s Belt and Road Initiative, currently accounting for almost a quarter Vivid Economics: Jason Eis (Executive Director) Thomas Nielsen of global GDP. The report highlights the imperative of urgent action to drastically (Engagement Manager) David Ren (Economist) reduce future carbon trajectories if there is to be any likelihood of achieving the Paris Agreement on climate, and sets out a roadmap of how to do that focused on Climateworks Foundation: Ilmi Granoff (Director, Sustainable Finance leveraging financial flows and related policies and business communities. Program) Tim Stumhofer (Associate Director, Sustainable Finance Program) Decarbonizing the Belt and Road: A Green Finance Roadmap is a collaboration between the Tsinghua University Center for Finance and Development, Vivid ACKNOWLEDGEMENTS Economics and the Climateworks Foundation. The authors and partner organisations acknowledge and thank the Comments and requests can be sent to either of the lead authors. For more many individuals and organisations that have informed the development information please visit: and communication of this research. This includes Yi Shen, Jing Wu, Yunhan www.vivideconomics.com/publications/decarbonizing-the-belt-and-road- Chen, Yangyang Liu, Wenhong Xie, Xing Qi, Mingxuan Wang from Tsinghua initiative-a-green-finance-roadmap University, Yujun Liu from Syntao, Shuling Rao from CBEE, and Tao Wang www.pbcsf.tsinghua.edu.cn/ from Climateworks. -
指數etf (2805) 截至 31/01/2014 2805
領航富時亞洲(日本除外)指數ETF (2805) 截至 31/01/2014 2805 成分股數目 669 證券百分比 99.66% 現金及現金等類百分比 0.34% 其他 0.00% 證券名稱 證券代號 交易所 資產淨值百分比 Samsung Electronics Co. Ltd. 005930 XKRX 4.36% Taiwan Semiconductor Manufacturing Co. Ltd. 2330 XTAI 2.82% Tencent Holdings Ltd. 700 XHKG 2.20% AIA Group Ltd. 1299 XHKG 1.91% China Construction Bank Corp. 939 XHKG 1.78% China Mobile Ltd. 941 XHKG 1.69% Industrial & Commercial Bank of China Ltd. 1398 XHKG 1.59% Hyundai Motor Co. 005380 XKRX 1.14% Bank of China Ltd. 3988 XHKG 1.13% Hon Hai Precision Industry Co. Ltd. 2317 XTAI 1.13% Hutchison Whampoa Ltd. 13 XHKG 0.98% Infosys Ltd. INFY XNSE 0.97% CNOOC Ltd. 883 XHKG 0.84% Oversea-Chinese Banking Corp. Ltd. O39 XSES 0.74% Housing Development Finance Corp. HDFC XNSE 0.73% DBS Group Holdings Ltd. D05 XSES 0.72% Reliance Industries Ltd. RELIANCE XNSE 0.72% Galaxy Entertainment Group Ltd. 27 XHKG 0.72% China Life Insurance Co. Ltd. 2628 XHKG 0.71% Singapore Telecommunications Ltd. Z74 XSES 0.70% PetroChina Co. Ltd. 857 XHKG 0.70% POSCO 005490 XKRX 0.69% Shinhan Financial Group Co. Ltd. 055550 XKRX 0.69% Hong Kong Exchanges and Clearing Ltd. 388 XHKG 0.68% China Petroleum & Chemical Corp. 386 XHKG 0.68% Hyundai Mobis 012330 XKRX 0.67% Cheung Kong Holdings Ltd. 1 XHKG 0.66% Sands China Ltd. 1928 XHKG 0.62% Sun Hung Kai Properties Ltd. 16 XHKG 0.62% United Overseas Bank Ltd. U11 XSES 0.62% SK Hynix Inc. -
Roshan Power (Private) Limited
..t ROSHAN POWER (PRIVATE) LIMITED The Registrar, Date: February 10, 2014 National Electric Power Regulatory Authority, Ref: RPL/14/I/003 2nd Floor, OPF Building, SeCtor G-5/2, Reg. 50/2010 Islamabad. Dear Sir, APPLICATION FOR A GENERATION LICENSE OF 10 MW SOLAR POWER PROJECT ROSHAN POWER (PRIVATE) LIMITED 1, Rao Mahmud Ilahi, Director Energy projects being the duly Authorized representative of Roshan Power Pvt. Ltd. by virtue of board resolution dated January 28, 2014, hereby apply to the National Electric Power Regulatory Authority (NEPRA) and for the Grant of a Generation License of 10 MW Solar Power Project to Roshan Power (Pvt.) Ltd pursuant to the section 15 of the Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997. I certify that the documents-in-support attached with this application are prepared and submitted in conformity with the provision of National Electric Power Regulatory Authority Licensing (Application and Modification Procedure) Regulations, 1999, and undertake to abide by the terms and provisions of above-said regulations. I further undertake and confirm that the information provided in the attached documents-in-support is true and correct to the best of my knowledge and belief. Two Bank drafts (DD3050621 & DD3050671) in the sum of Rupees 131,632 (One Hundred Thirty One Thousand, Six Hundred & Thirty Two only) being the non-refundable License application fee calculated in accordance with Schedule-II to National Electric Power Regulatory Authority Licensing (Application and Modification Procedure) Regulations, 1999, is • also attached herewith. Best Regards, - R o M. Ilahi Director Energy Projects u-11 Gurumangat Road, Gulberg-III, Lahore, Pakistan. -
Paving the Road to Recovery As Global Construction Rebounds, Contractors Eye Infrastructure Spending As a Chance to Grow Revenue
Overview p. 48 // International Market Analysis p. 48 // International Region Analysis p. 49 // 2020 Revenue Breakdown p. 49 2020 New Contracts p. 49 // Domestic Staff Hiring p. 49 // International Staff Hiring p. 49 // Top 10 by Region p. 50 Top 10 by Market p. 51 // Top 20 Non-U.S. International Construction/Program Managers p. 52 // Top 20 Non-U.S. Global Construction/Program Managers p. 52 // Profit-Lossp. 53 // Total Backlog p. 53 // Past Decade’s International Contractor Revenue p. 53 // How Contractors Shared the 2020 Market p. 54 // How To Read the Tables p. 55 // Hochtief's Highway Expansion p. 55 // Top 250 International Contractors List p. 57 // International Contractors Index p. 62 // Top 250 Global Contractors List p. 63 // Global Contractors Index p. 68 NUMBER 170 NUMBER TUNNEL VISION ICM SpA is contractor for the A26 Linzer Autobahn project in Austria, which includes construction of junction tunnels and a cable-stayed bridge. PHOTO COURTESY OF ICM SPA PHOTO COURTESY International Contractors Paving the Road to Recovery As global construction rebounds, contractors eye infrastructure spending as a chance to grow revenue. By Emell Adolphus, Peter Reina and Jonathan Keller enr.com August 16/23, 2021 ENR 47 0823_Top250_Intro.indd 47 8/17/21 6:34 PM nternational contractors on the long road to rebounding from the COVID-19 pandemic might find a shortcut to recovery in infrastructure projects, as countries ramp up spending to help build economies back to normal. While the global construction market is red hot for some firms, it is Istone cold for others as contractors deal with unpredictable project risks while readying for new growth opportunities. -
Download the ENR Ranking
Overview p. 34 // International Market Analysis p. 34 // Past Decade’s International Contracting Revenue p. 34 // International Region Analysis p. 35 // 2019 Revenue Breakdown p. 35 // 2019 New Contracts p. 35 // Domestic Staff Hiring p. 35 International Staff Hiring p. 35 // Profit-Loss p. 36 // 2019 Backlog p. 36 // Top 10 by Region p. 36 // Top 10 by Market p. 37 Top 20 Non-U.S. International Construction/Program Managers p. 38 // Top 20 Non-U.S. Global Construction/Program Managers p. 38 // Larsen & Toubro Ltd. Installs Massive Fusion Equipment p. 39 // How Contractors Shared the 2019 Market p. 40 // How To Read the Tables p. 40 // Top 250 International Contractors List p. 41 // International Contractors Index p. 46 // Top 250 Global Contractors List p. 47 // Global Contractors Index p. 52 CONNECTIONS China Communications 4 NUMBER Construction Group Ltd. is building the $500-million, 7,887-ft cable-stayed bridge connecting the Pelješac Peninsula with Croatia’s mainland. PHOTO COURTESY OF CHINA COMMUNICATIONS CONSTRUCTION GROUP LTD. GROUP CONSTRUCTION COMMUNICATIONS CHINA OF COURTESY PHOTO International Contractors Struggling With COVID-19 Rocked by the worldwide pandemic and plunging oil prices, the global construction market attempts to cope. By Gary J. Tulacz & Peter Reina enr.com August 17/24, 2020 ENR 33 0824_Top250_Intro_3.indd 33 8/18/20 5:44 PM 31.0% Transportation THE TOP 250 INTERNATIONAL CONTRACTORS $146,582.3 26.1% Buildings $123,456.9 Int’l Market Analysis 15.0% Petroleum $70,934.4 (2019 revenue measured in millions) 10.3% Power $48,556.6 5.6% Other 2.3% 3.4% $26,447.9 1.7% Manufacturing Industrial Telecom $10,822.1 $16,048.1 $7,842.1 % 0.1% 1.7% 2.9 Hazardous Sewer/Waste Water Waste $7,948.7 $13,904.0 $525.0 SOURCE: ENR Comparing the Past Decade’s International $383.7 $453.0 $511.1 $544.0 $521.6 $501.1 $468.1 $482.4 $487.3 $473.1 Contractor Revenue 2010* 2011* 2012 2013 2014 2015 2016 2017 2018 2019 (in $ billions) * Figures for 2010-2011 represent the Top 225 International Contractors before ENR expanded the list to 250. -
Harvest Funds (Hong Kong) Etf (An Umbrella Unit Trust Established in Hong Kong)
HARVEST FUNDS (HONG KONG) ETF (AN UMBRELLA UNIT TRUST ESTABLISHED IN HONG KONG) HARVEST MSCI CHINA A INDEX ETF (A SUB-FUND OF THE HARVEST FUNDS (HONG KONG) ETF) SEMI-ANNUAL REPORT 1ST JANUARY 2016 TO 30TH JUNE 2016 www.harvestglobal.com.hk HARVEST MSCI CHINA A INDEX ETF (A SUB-FUND OF THE HARVEST FUNDS (HONG KONG) ETF) CONTENTS PAGE Report of the Manager to the Unitholders 1 - 2 Statement of Financial Position (Unaudited) 3 Statement of Comprehensive Income (Unaudited) 4 Statement of Changes in Net Assets Attributable to Unitholders (Unaudited) 5 Statement of Cash Flows (Unaudited) 6 Investment Portfolio (Unaudited) 7 – 29 Statement of Movements in Investment Portfolio (Unaudited) 30 – 75 Performance Record (Unaudited) 76 Underlying Index Constituent Stocks Disclosure (Unaudited) 77 Report on Investment Overweight (Unaudited) 78 Management and Administration 79 - 81 RESTRICTED HARVEST MSCI CHINA A INDEX ETF (A SUB-FUND OF THE HARVEST FUNDS (HONG KONG) ETF) REPORT OF THE MANAGER TO THE UNITHOLDERS Fund Performance A summary of the performance of the Sub-Fund1 is given below (as at 30 June 2016): Harvest MSCI China A Index ETF 1H-2016 (without dividend reinvested) MSCI China A Index2 -17.61% Harvest MSCI China A Index ETF NAV-to-NAV3 (RMB Counter) -17.60% Harvest MSCI China A Index ETF Market-to-Market4 (RMB Counter) -19.54% Harvest MSCI China A Index ETF NAV-to-NAV3 (HKD Counter) -18.51% Harvest MSCI China A Index ETF Market-to-Market4 (HKD Counter) -20.82% Source: Harvest Global Investments Limited, Bloomberg. 1 Past performance figures shown are not indicative of the future performance of the Sub-Fund. -
Shanghai Electric Plays a Leading Role in Green Development
EDITOR’S LETTER Shanghai Electric Group Co., Ltd. Shanghai Electric Editorial Board SHANGHAI ELECTRIC Honorary Director Zheng Jianhua PLAYS A LEADING ROLE IN Honorary Deputy Director Huang Ou Zhu Zhaokai Director GREEN DEVELOPMENT Dong Yijun Planner Shen Jin Editor-in-Chief Tu Min News about the “two sessions” (the fourth session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) and the fourth session of the 13th National People's Congress (NPC)) attract Add No.149, Middle Sichuan Road, Huangpu District, Shanghai, China most attention at present. We find that the most discussed topics are “carbon Zip 200002 peak” and “carbon neutrality”. Tel 8621-23196488 Carbon peak, which is easy to understand, means that at a certain time point, 8621-63216017 Fax China will have the CO2 emission peak and from then on, the emission will printing Shanghai Baolian computer drop. What is carbon neutrality? According to Issue 2 (2020) of Ecological printing Co., Ltd Economy, it means that “the net CO2 emission is zero”. Is carbon neutrality far away from us? A UN report shows that if the temperature rose by 1.8 degrees Celsius by 2050, then there would be 2 billion people have no access to water, and 20% to 30% of natural species would basically die out. This “1 degree Celsius” leading to the “highway to extinction” is alerting people to reduce CO2 emission. Carbon neutrality forces the public to confront environmental protection problem. Forests are lungs of the planet. According to scientists, a big tree in the urban area is as effective as 5 or 6 air conditioners in that it can lower the temperature and absorb CO2. -
Chinese International Contractors in Africa: Structure and Agency Hong Zhang
WORKING PAPER NO. 47 MAY 2021 Chinese International Contractors in Africa: Structure and Agency Hong Zhang sais-cari.org WORKING PAPER SERIES NO. 47 | MAY 2021: “Chinese International Contractors in Africa: Structure and Agency” by Hong Zhang TO CITE THIS PAPER: Hong Zhang. 2021. Chinese International Contractors in Africa: Structure and Agency Working Paper No. 2021/47. China Africa Research Initiative, School of Advanced International Studies, Johns Hopkins University, Washington, DC. Retrieved from http://www.sais-cari.org/publications. CORRESPONDING AUTHOR: Hong Zhang Email: [email protected] ACKNOWLEDGEMENTS: This project is funded by Johns Hopkins SAIS-CARI. I am grateful to Aoqi Wu, Peter Grinsted and Yoon Jung Park for their comments that helped improve the paper. I also thank Daniela Solano-Ward for her excellent editing. NOTE: The papers in this Working Paper series have undergone only limited review and may be updated, corrected or withdrawn. Please contact the corresponding author directly with comments or questions about this paper. Editor: Daniela Solano-Ward 2 CHINA-AFRICA RESEARCH INITIATIVE ABSTRACT SAIS-CARI WORKING PAPER As the builders of many of Africa’s mega infrastructure NO. 47 | MAY 2021: projects, Chinese international construction and engineering “Chinese International Contractors in Africa: Structure contractors (ICECs) are a significant group of actors in Africa. and Agency” Although Chinese ICECs and have attained a dominant by Hong Zhang position in the African market, there have been no systematic studies into this group. This paper is an initial attempt to unpack the role of ICECs in China’s international economic relations. Drawing on primary Chinese sources, I trace the historical evolution of China’s international contracting industry. -
中國中鐵股份有限公司 CHINA RAILWAY GROUP LIMITED (A Joint Stock Limited Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 390)
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 中國中鐵股份有限公司 CHINA RAILWAY GROUP LIMITED (A joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 390) ANNOUNCEMENT (1) PROPOSED ELECTION AND RE-ELECTION OF DIRECTORS (2) PROPOSED ELECTION OF SHAREHOLDER REPRESENTATIVE SUPERVISOR PROPOSED ELECTION AND RE-ELECTION OF DIRECTORS The term of office of all Directors of the fourth session of the Board, namely Mr. CHEN Yun, Mr. WANG Shiqi, Mr. GUO Peizhang, Mr. WEN Baoman, Mr. ZHENG Qingzhi and Mr. CHUNG Shui Ming Timpson, has expired on 27 June 2020. According to the provisions of the Company Law and the Articles of Association, where a company has not re-elected a director upon the expiry of his/her term of office or the number of directors is less than the required quorum as a result of the resignation of a director, the existing director shall continue to serve as a director until the newly elected director commences his/her term of office. As such, the above Directors currently continue as Directors until members of the fifth session of the Board assume their office. On 8 February 2021, the Directors of the fourth session of the Board convened the 48th Board meeting and approved the Proposal to Elect Executive Directors and Non-executive Director of the Fifth Session of the Board of Directors of China Railway Group Limited and the Proposal to Elect Independent Non-executive Directors of the Fifth Session of the Board of Directors of China Railway Group Limited, which proposed to elect and re-elect seven Directors as members of the fifth session of the Board: (i) re-elect Mr.