HONG KONG, Mar 30, 2020 - (ACN Newswire) - Chengdu Expressway Co., Ltd. ("Chengdu Expressway" or the "Company", together with its subsidiaries, the "Group", stock code: 1785), a leading expressway operator in Sichuan Province, announced its audited annual results for the year ended 31 December 2019("the Reporting Period").
During the Reporting Period, the Group achieved toll income of RMB1,255,926,000, up by 27.4%, the Group achieved profit for the year of RMB471,102,000, representing a year-on-year increase of 5.6%, total comprehensive income for the year attributable to owners of the Company of RMB438,791,000, representing a year-on-year increase of 5.6% and basic earnings per share of approximately RMB0.268. The Company was committed to enhancing its corporate value and giving a due consideration to both the development of the Company and the interests of investors to implement the dividend distribution policy. The board of directors of the Company proposed to distribute a final cash dividend for 2019 of RMB0.12 per Share (tax inclusive) and RMB198,732,240 in total.
Principal Business Trending Stable and Upward
During the Reporting Period, Chengguan Expressway, Chengpeng Expressway, Chengwenqiong Expressway and Chengdu Airport Expressway recorded daily weighted- average traffic volume of 40,564, 51,342, 57,768 and 44,396, representing a year-on-year change of -4.6%, 81.3%, 8.2% and 1.5% from 2018, respectively; and toll income of RMB307,940,000, RMB238,312,000, RMB433,933,000 and RMB142,570,000. In particular, Chengguan Expressway, Chengpeng Expressway, Chengwenqiong Expressway and Chengdu Airport Expressway registered a year-on-year change of -6.8%,110.6%,9.0% and -1.1% in toll income, respectively.
The traffic volume and toll income of Chengpeng Expressway maintained relatively substantial increase with remarkable results achieved, primarily due to the reason that it benefited from the expansion and renovation and the full restoration of traffic flows since 12 July 2018. Benefiting from the completion of Riyue Avenue, which connects downtown Chengdu to the entrance of Chengwenqiong Expressway, Chengwenqiong Expressway attracted more vehicles and therefore witnessed an increase in toll volume and toll income. Chengdu Airport Expressway recorded a slight decrease in revenue due to more ETC discounts afforded as compared to 2018. Chengguan Expressway recorded a decrease in toll volume and toll income from 2018, primarily due to traffic diversion as a result of operation of Yongning and Shuyuan toll gates on Chengdu Ring Expressway and the reopening of Chengpeng Expressway since 12 July 2018. In addition, the debris flow disaster in Wenchuan County, Aba Prefecture, Sichuan Province on 20 August 2019 and the environmental rectification with special treatment conducted in Aba Prefecture, Sichuan Province during the Reporting Period exerted negative impact on the traffic volume of Chengguan Expressway to a certain extent.
Qiongming Expressway was acquired by the Group from Chengdu Expressway Construction in 2019, which constituted business combination under common control. Chengdu Expressway Construction completed acquisition of equity interests in Chengming Expressway Company on 7 May 2019 and therefore, the results of Qiongming Expressway from May to December 2019 were consolidated into the financial statements of the Group for the year. From May to December 2019, toll income of Qiongming Expressway reached RMB133,171,000 and if calculated based on the whole year of 2019, Qiongming Expressway realised daily weighted-average traffic volume of 13,718, representing an increase of 10.3% from the corresponding period of 2018 and toll income of RMB189,953,000 (2018: RMB169,478,000), representing an increase of RMB20,475,000, or 12.1% from 2018. The increase in toll income of Qiongming Expressway was attributable to the fact that it had grown into the mature period to generate profitability.
Proactively Implementing Policies to Facilitate Traffic Flow
During the Reporting Period, responding to the national policies, the Group actively implemented ETC software and hardware technical transformation to facilitate traffic flow. In line with the "Notice on Issuing the Implementation Plan for Deepening the Reform of Toll Road System and Cancelling the Provincial Toll Stations of Expressways issued by the General Office of the State Council, the Group implemented the standardised construction and renovation of hardware and software for the ETC portal system of three of our expressways, being Chengguan Expressway, Chengpeng Expressway and Chengwenqiong Expressway (Chengdu Airport Expressway does not need hardware renovation for the ETC portal system and only requires upgrading of toll collection software to meet the standards). As of December 2019, construction for 46 ETC portal systems was completed. In addition, cooperating with banks and WeChat operators, the Group developed the "Sichuan Expressway Connect" mini program, which was officially launched in June 2019 to provide online ETC services 24 hours a day. The Group also proactively improved traffic convenience and work efficiency through setting up unattended card issuing machines and mobile code scanning payments on its own expressways.
Expanding Principal Business through Acquisition of Equity Interests in Chengming Expressway Company
During the Reporting Period, the Company entered into the equity transfer agreement with Chengdu Expressway Construction on 28 October 2019 to acquire the 51% equity interests in Chengming Expressway Company and the relevant change in industrial and commercial registration was completed on 20 December 2019. The acquisition scaled up the assets of the Group and expanded the market share of principal business in Sichuan Province, which will facilitate the strengthening of the core advantages of the Company in the investment and management of toll highways and roads. Upon completion of the acquisition, the total mileage of the expressways operated by the Company has been extended to approximately 202.37 kilometres from approximately 149.69 kilometres.
Outlook in 2020
The sixth meeting of the Central Financial and Economic Affairs Commission was held on 3 January 2020, which focused on the Chengdu-Chongqing economic circle and put forward the initiative "to promote the construction of a two-city economic circle in Chengdu- Chongqing region and forge an important growth driver for high-quality development in the west". The Company expects that the favorable macro policies will provide strong support for the sustainable development of Chengdu and its surrounding areas, and will also affect transportation, warehousing, logistics, tourism and other industries, thus bringing development opportunities to the Group.
Xiao Jun, the Chairman of Chengdu Expressway Co., Ltd., said: "In 2020, the Company will continue to strengthen the investment, construction, management and maintenance of expressways to consolidate its core competitiveness. First, the Company plans to set up specialized operating companies to implement unified management and maintenance of its own expressways and reduce operation and management costs. Second, the Company proposes to make effective use of investment attraction policies in the areas along the expressways, and to invest in the construction of a theme service area near Ande Toll Station of Chengguan Expressway according to the "Expressway +" industrial concept, so as to foster new profit and growth potential while improving the traffic experience and service level of Chengguan Expressway."
About Chengdu Expressway Co., Ltd.
Chengdu Expressway Co., Ltd. (hereinafter referred to as the "Company") is mainly engaged in the operation, management and development concerning expressways. The six expressways under its current operation and investment include Chengguan Expressway, Chengwenqiong Expressway, Chengpeng Expressway, Chengdu Airport Expressway, Qiongming Expressway and Chengbei Exit Expressway, with a total length of 202.37 kilometers. They are all situated at strategic locations around Chengdu and connect areas with rich economic, cultural and tourism resources. They are indispensable parts of the expressway network surrounding Chengdu, the capital of Sichuan Province. For further details regarding Chengdu Expressway Co., Ltd., please visit its website at https://www.chengdugs.com/ .
Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
source http://www.acnnewswire.com/press-release/english/58163/
IVD Medical's Revenue Surged 464.0% While Profit Significantly Increased 156.1% In 2019
Mr. Ho Kuk Sing, Chairman of IVD Medical, said "The year 2019 is important in the Group's development history. The Group successfully listed on the Main Board of HKEX to be the first IVD Company listed on HKEX. It not only marked an important milestone in the development of the Group's business, but also enhanced the brand recognition of "IVD Medical" and laid a solid foundation for the Group's future development. At the same time, we also achieved outstanding performance during this year. The Group acquired the remaining 60% equity interest in Vastec in January 2019. After completing the acquisition of Vastec, we will be able to further integrate our distribution value chain, which will help drive the Group's future development."
In view of the satisfactory operating results in 2019, the Board recommends a final dividend of HK$ 5.366 cent per share for the year ended 31 December 2019.
Business Review
The Group is a leading distributor of IVD products in the PRC. In 2018, Vastec was the fourth largest Tier-1 IVD distributor in the PRC, and the Original Group was the third largest distributor in the Shanghai IVD market. The Group also engages in the research, development, manufacturing and sale of its self-branded IVD products under the brand name "IVD".
Distribution business
The distribution of IVD products forms the cornerstone of the Group's business. It primarily is involved in the trading of IVD analysers, reagents and other consumables to customers such as distributors, hospitals and healthcare institutions, and logistics providers.
The Group acquired the remaining 60% equity interest in Vastec in January 2019. Vastec was an associated company of the Original Group before the Acquisition, and was under the same core management team including the founders of the Group. After Vastec became the Group's wholly-owned subsidiary, revenue from the distribution of IVD products through Vastec was consolidated into the Group. Vastec is the sole national distributor of Sysmex' haemostasis products with exclusive distribution rights in the PRC since 1997. It also procures a diverse portfolio of IVD products from other leading international brands and distributes them in the PRC. On 1 April 2019, Vastec and Sysmex entered into a new distribution agreement which extended the term until 2022. This newly signed agreement will further stabilize relations between Vastec and Sysmex. During the Period, there were approximately 7,186 Sysmex haemostasis analysers (2018: 6,359 unit) installed by the Group at hospitals and healthcare institutions accumulatively. The existing and rising installation will create continuous demand for reagents, thus generating stable recurring income for the Group.
At the same time, Vastec began to provide 4 Thrombotic Markers to the market. These new products are manufactured by Sysmex with high sensitive chemiluminesence technology, which may help the early diagnose of thrombosis and fibrinolysis, and they are aimed at further expanding the Group's product portfolio. During the Period, there were approximately 64 Sysmex analysers installed by the Group at the hospitals and healthcare institutions, and the use of 4 Thrombotic Markers has commenced.
In addition, the Group provides solution services to the clinical laboratories of hospitals through Dacheng Medical Equipments (Shanghai) Co., Ltd. ("Dacheng"), a wholly-owned subsidiary of the Group. This has enabled the Group to establish and maintain direct relations with local medical practitioners so as to keep the Group close to the frontlines of the medical practice and the market demand for IVD products. During the Period, Dacheng actively expanded its business and provided solution services to three new hospitals in the PRC (located in Shanghai and Shandong) and has successfully recognized revenue. Solution services contributed revenue of RMB 132,798,000 for the year ended 31 December 2019 (2018: RMB 108,705,000), representing an increase of 22.2% compared to the last year.
Through years of operations, the Group has established an expansive distribution network across 29 provinces, municipalities and autonomous regions in the PRC with an extensive hospital coverage. As of 31 December 2019, the Group had 265 direct customers, including hospitals and healthcare institutions, and 903 distributors in its established distribution network. As of 31 December 2019, the Group also covered 1,315 Class III hospitals mainly through its sub-distribution networks in the PRC, which further enhanced the competitiveness of the Group.
Maintenance services
Apart from distributing IVD products in the PRC, the Group also derives revenue by providing maintenance services to end customers of Sysmex' haemostasis analysers in the PRC. In 2017, Vastec entered into a maintenance services agreement with Sysmex to provide maintenance services for the haemostasis analysers of its end customers. The maintenance services provided by Vastec generally include maintenance and repair services, installation services and end customer training. Vastec primarily provides its maintenance services to hospitals and healthcare institutions. During the reporting period, the maintenance services business was able to sustain steady development.
Self-branded products business
During the years ended 31 December 2017 and 2018, the factory of the Group undertook the re-setting, adjustment and calibration of self-branded IVD analysers of the Group, for adapting the self-branded IVD analysers of the Group that are originally designed for use in the outpatient department to now operate in the emergency department of hospitals. The factory reset for the upgrade of self-branded IVD analysers of the Group can improve users' satisfaction and will have positive effects on the self-branded business of the Group in the long run. The manufacturing and sale of such IVD analysers re-commenced in 2019.
Outlook
In the future, the Group will consolidate its leading position in the IVD industry in the PRC and adopt active development strategies. To realize this goal, the Group aims to continuously expand its product portfolio by diversifying product categories, increasing brand coverage and further expand the breadth of distribution network and hospital coverage. In this way, the Group will be able to capitalize on the high growth potential of the IVD market.
Concurrently, the Group will continue to develop its distribution business by enhancing its capacity to provide solution services. By being the general supplier of their clinical laboratory department, the Group is involved laboratory layout design, provides centralized procurement of IVD products, conducts real-time inventory monitoring and delivers other after-sale services to clinical laboratories. It also plans to provide solution services for two new hospitals in 2020. Moreover, the Group will continue participating in national and local IVD symposiums, as well as academic conferences to raise brand awareness.
In addition, the Group believes that strong research and development capabilities are critical for securing its future development and sustainable growth. It will therefore invest more resources in improving its research and development capabilities, including acquiring equipment and instruments, and hiring experts from relevant fields. The Group will also engage in research projects to further develop self-branded IVD products that hold promising market potential. The Group is keen as well to further strengthen product quality management, and optimize the performance and applicability of its self-developed products to enhance the Group's competitiveness in the market.
Mr. Leung King Sun, COO of the Group, added, "There will be a significant growth potential for the healthcare and medical device market, especially the IVD market in PRC with the aggravating trend of ageing population, the growth of medical expenses per capita and the progress of technology development. Looking ahead, we will continue to diversify our product mix, distribution network and hospital coverage so as to enhance our capacity to provide solution services to hospitals and further improve our product research and development capabilities. We will also seize opportunities that allow us to realize sustainable business growth and boost shareholder value."
About IVD Medical Holding Limited
IVD Medical Holding Limited ("IVD Medical" or the "Group") is a leading distributor of IVD products in the PRC. Its key subsidiaries include Vastec Medical Limited, Dacheng Medical Equipments (Shanghai) Co., Ltd., IVD China Limited and Suzhou DiagVita Biotechnology Co., Ltd. The Group's distribution network covers 29 provinces, municipalities and autonomous regions across the PRC. It is the sole national distributor of Sysmex' haemostasis products in the PRC and provides maintenance services to its end customers. It also engages in the R&D, manufacturing and sales of self-branded IVD analysers and reagents and provides solution services to clinical laboratories of hospitals for centralised procurement.
Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
source http://www.acnnewswire.com/press-release/english/58159/
Analogue Achieves Record High Value of Outstanding Contracts in Hand Amounted to HK$9.4 Billion
HONG KONG, Mar 29, 2020 - (ACN Newswire) - Analogue Holdings Limited ("Analogue" or the "Company", together with its subsidiaries collectively the "Group") (stock code: 1977), a leading electrical and mechanical ("E&M") engineering service provider in Hong Kong with operations in Macau and mainland China, today announced its first annual results (unaudited) for the year ended 31 December 2019 ("the Year") since its listing on the Main Board of The Stock Exchange of Hong Kong Limited ("HKEX") on 12 July 2019.
Highlights
- Total revenue and profit attributable to equity holders reach HK$4,481.9 million and HK$242.6 million respectively
- Satisfactory order intake in FY2019 valued at HK$6.5 billion, up 13.3% YOY
- A record high value of outstanding contracts in hand of approximately HK$9.4 billion
During the Year, the Group recorded total revenue of HK$4,481.9 million and a profit attributable to equity holders of HK$242.6 million. The Group's gross profit in 2019 was HK$786.7 million, with gross profit margin increasing to 17.6% (FY2018: 14.9%), mainly attributable to the increased proportions of maintenance works and sales of goods awarded, which presented a higher gross profit margin than contracting works in the overall revenue stream. The high levels of tendering activities by the Group throughout 2019 paid off witha rewarding result after a year of record high business turnover in 2018. During the Year, a total of approximately 1,332 tenders or quotations each with an individual value of over HK$1 million had been submitted, of which approximately 316 were awarded witha value totalling approximately HK$5.5 billion. The Group has recorded a notably high value of outstanding contracts in hand of approximately HK$9.4 billion (including contracting work, maintenance work and sales of goods), approximately HK$2.0 billion more than last year. During the reporting year, the total value of tenders and quotations awarded increased by 13.3% to approximately HK$6.5 billion (FY2018:HK$ 5.7 billion).
The Board has proposed a second interim dividend of HK5.07 cents per Share. Together with the first interim dividend of HK3.85 cents per Share, the total dividend for the Year amounted to HK8.92 cents per Share, representing a dividend payout ratio of 51.5%.
Dr. Poon Lok To Otto, Chairman of Analogue Holdings Limited, said, "The Group has reached a historic milestone this year with its shares successfully listed on the Main Board of the Stock Exchange in July, and the inclusion in the MSCI Hong Kong Micro Cap Index a few months later further represented recognition from the investment market. Our dedication to sustainable development was clearly reflected by the progress across all four business segments despite the worsening business environment in the second half year. Our innovative capability in generating various new applications of technologies not only gained us new orders, but also consolidated our leading position. As we forge ahead, we will continue to honour our guiding principles - We Commit, We Perform, We Deliver to provide professional, efficient and quality E&M engineering services, and will adhere to the New Technology, New Market and New Business Mode strategy. We are in good position to capture the rising opportunities in the Greater Bay Area and One Belt One Road countries to fuel our growth ahead."
Building Services
The building services segment continued to be the key revenue driver of the Group, contributing HK$2,676.3 million to revenue for the Year, with its capability encompassing the design, installation, testing and commissioning and maintenance services for customers from Hong Kong, Macau and mainland China for a wide range of buildings and premises.
During the Year, the Group managed to enlist some major new customers while maintaining an existing strong client base. It has stepped up the impetus in investing in, developing and implementing innovative construction technologies. For the Science Park InnoCell residential project in Pak Shek Kok, one of the first construction projects of its kind in Hong Kong, the Group has resolved a series of technical, logistical and cross-border administration and statutory approval issues related to the adoption of the latest construction technology of Modular Integrated Construction (MiC). The project was making good progress with completion expected in 2020. The Group was also developing the ATAL Building Services Prefabrication & Modularisation Construction Technology (ABSPM) for adoption of off-site prefabrication and modularisation in a systematic approach and on a wider scale, in order to enhance quality, safety and productivity, and to mitigate the acute problems of aging and shortage of site workers.
Environmental Engineering
The environmental engineering segment provides total solutions for environmental engineering systems for water, wastewater, sluge, solid waste and gas treatment plant projects, which contributed revenue of HK$1,086.9 million for the Year.The Group has developed and adopted several advanced technologies through its in-house research and develpment ("R&D") team, giving it a competitive edge not only for bidding tenders in Hong Kong but also tapping the vast market of mainland China. Up to FY2019, the Group had project references in most of the 34 provinces level administrative regions in China. The Group also explored opportunities to provide environmental engineering service overseas, particularly to the relevant Belt and Road countries. During the Year, by working with a large China state-owned enterprise, the Group secured a contract for the supply of technologies and equipment (including 5-years operation), for a wastewater treatment plant project in Nepal.
Information, Communication and Building Technology ("ICBT")
To ride the megatrend of the Smart City, the ICBT segment endeavours to offer solutions to help build green and intelligent buildings through integrating a wide range of information and communications technologies. During the Year, the ICBT segment recorded revenue amounting to HK$444.4 million.
In 2019, The Group's award-winning Cloud-based Chiller Plant Energy Management Platform was commercialised and has attracted the interest of many reputable clients of commercial buildings. A number of orders has been received and more are under negotiation. A Fault Detection & Diagnostic (FDD) software and an Energy Management Visualization (EMV) software are also developed and ready for official launch in FY2020, which aim to help better monitoring the working conditions of building services equipment and building energy consumption patterns. A new stream of income this year came from equipping office, commercial and government buildings with the Internet-of-Things ("IoT") infrastructure. For intelligent transport, the Group also secured an Automated Guided Vehicular (AGV) Parking System contract for the Hong Kong Science and Technology Park, which was the first commercialised smart parking system of its kind in Hong Kong, and is in the process of bidding for the second one.
Lifts & Escalators
The lifts & escalators segment encompasses the design, manufacturing (under the trade name of "Anlev"), sales, installation and maintenance of various lifts, escalators and moving walkways meeting different purposes and requirements. Capitalising on its outstanding performance ratings in safety and quality, the segment has realised steady growth, generating a revenue of HK$274.3 million.
During the Year, the Group received the first maintenance order of the Anlev Predictive Maintenance & Remote Monitoring System (APMRMS). On top of general new lift installation and maintenance projects, the increasing safety concern for lifts in society has led to many enquiries for modernisation of aged lifts. In FY2019, the Group secured contracts for modernisation of lifts of total value at HK$83.8 million and completed contracts of HK$44.5 million. Subsequent to Anlev's admission to the Hong Kong Housing Authority ("HKHA") approved contractor list for lift installations, the Group was awarded the first HKHA lift contract in the Year and is prepared to pursue more lift tenders from HKHA in the coming years. The Group was also awarded its first order in Mexico and Portugal respectively and signed new distributorship agreements in the Eurasian and Eastern Europe regions. The Group will put in extra effort to boost its business growth overseas, through targeting areas with a large market size and higher price level, while looking to engage incloser work relationships with its overseas partners.
Business Outlook
Despite the challenges in the global economy presented by the trade conflict between China and the United States of America as well as the coronavirus pandemic that started in January 2020, the Group still sees growth opportunities in its major markets, as driven by the favourable policies by the governments. Construction Industry Councilforecasted that the construction expenditure in Hong Kong is on a rising trend, from HK$245-$305 billion in FY2019-2020 to HK$275-$340 billion in FY2027-2028. The Group is forseeing a healthy pipeline of tenders and business opportunities to capture in 2020 and beyond, and is cautiously optimistic about the business outlook and further improvement in the upcoming years.
Going forward, the Group will stay alert and spare no effort to foster innovation and application of technologies, while continuously supporting the sustainable business strategy through seizing various growth opportunities for its four business segments. Meanwhile, the Group is actively pursuing merger and acquisition opportunities to facilitate its overall business growth. The Group has conducted preliminary enquiries with companies in South East Asia, North America and Europe in building services and lifts and escalators segments respectively. With a healthy liquidity position, the Group is in a favourable position and will continue to look for opportunities such as acquisition and formation of joint ventures to expand its various business segments in the future.
Dr. Otto Poon added, "With the Group's strong commitment and continuous investment in innovation, technology, process improvement, professional development, and sustainable business growth, we are confident in harvesting material benefits of improved efficiency, productivity and competitiveness in our operations and opening up new business opportunities to continue strengthening the market leadership position and increasing shareholder value going forward."
For further details of the 2019 annual results, please refer to the announcement that has been filed with The Stock Exchange of Hong Kong Limited.
https://doc.irasia.com/listco/hk/analogue/annual/2019/res.pdf
About Analogue Holdings Limited
Established in 1977 and headquartered in Hong Kong, the Group is a leading E&M engineering service provider in Hong Kong, with substantial operations in Macau and mainland China. The Group provides multi-disciplinary and comprehensive E&M engineering and technology services in different segments, including Building Services, Environmental Engineering, ICBT and Lifts & Escalators to a wide spectrum of customers from the banking, property development, education, entertainment, hospitality, information technology, data centres, transportation and utilities sectors, as well as departments of the Hong Kong SAR Government. The Group also manufactures and sells lifts and escalators internationally. Nanjing Canatal Data Centre Environmental Tech Company Limited, an associate of the Group specialised in manufacturing of precision air conditioners, has been listed on the main board of the Shanghai Stock Exchange since November 2017.
Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
source http://www.acnnewswire.com/press-release/english/58150/
Highlights
- Total revenue and profit attributable to equity holders reach HK$4,481.9 million and HK$242.6 million respectively
- Satisfactory order intake in FY2019 valued at HK$6.5 billion, up 13.3% YOY
- A record high value of outstanding contracts in hand of approximately HK$9.4 billion
During the Year, the Group recorded total revenue of HK$4,481.9 million and a profit attributable to equity holders of HK$242.6 million. The Group's gross profit in 2019 was HK$786.7 million, with gross profit margin increasing to 17.6% (FY2018: 14.9%), mainly attributable to the increased proportions of maintenance works and sales of goods awarded, which presented a higher gross profit margin than contracting works in the overall revenue stream. The high levels of tendering activities by the Group throughout 2019 paid off witha rewarding result after a year of record high business turnover in 2018. During the Year, a total of approximately 1,332 tenders or quotations each with an individual value of over HK$1 million had been submitted, of which approximately 316 were awarded witha value totalling approximately HK$5.5 billion. The Group has recorded a notably high value of outstanding contracts in hand of approximately HK$9.4 billion (including contracting work, maintenance work and sales of goods), approximately HK$2.0 billion more than last year. During the reporting year, the total value of tenders and quotations awarded increased by 13.3% to approximately HK$6.5 billion (FY2018:HK$ 5.7 billion).
The Board has proposed a second interim dividend of HK5.07 cents per Share. Together with the first interim dividend of HK3.85 cents per Share, the total dividend for the Year amounted to HK8.92 cents per Share, representing a dividend payout ratio of 51.5%.
Dr. Poon Lok To Otto, Chairman of Analogue Holdings Limited, said, "The Group has reached a historic milestone this year with its shares successfully listed on the Main Board of the Stock Exchange in July, and the inclusion in the MSCI Hong Kong Micro Cap Index a few months later further represented recognition from the investment market. Our dedication to sustainable development was clearly reflected by the progress across all four business segments despite the worsening business environment in the second half year. Our innovative capability in generating various new applications of technologies not only gained us new orders, but also consolidated our leading position. As we forge ahead, we will continue to honour our guiding principles - We Commit, We Perform, We Deliver to provide professional, efficient and quality E&M engineering services, and will adhere to the New Technology, New Market and New Business Mode strategy. We are in good position to capture the rising opportunities in the Greater Bay Area and One Belt One Road countries to fuel our growth ahead."
Building Services
The building services segment continued to be the key revenue driver of the Group, contributing HK$2,676.3 million to revenue for the Year, with its capability encompassing the design, installation, testing and commissioning and maintenance services for customers from Hong Kong, Macau and mainland China for a wide range of buildings and premises.
During the Year, the Group managed to enlist some major new customers while maintaining an existing strong client base. It has stepped up the impetus in investing in, developing and implementing innovative construction technologies. For the Science Park InnoCell residential project in Pak Shek Kok, one of the first construction projects of its kind in Hong Kong, the Group has resolved a series of technical, logistical and cross-border administration and statutory approval issues related to the adoption of the latest construction technology of Modular Integrated Construction (MiC). The project was making good progress with completion expected in 2020. The Group was also developing the ATAL Building Services Prefabrication & Modularisation Construction Technology (ABSPM) for adoption of off-site prefabrication and modularisation in a systematic approach and on a wider scale, in order to enhance quality, safety and productivity, and to mitigate the acute problems of aging and shortage of site workers.
Environmental Engineering
The environmental engineering segment provides total solutions for environmental engineering systems for water, wastewater, sluge, solid waste and gas treatment plant projects, which contributed revenue of HK$1,086.9 million for the Year.The Group has developed and adopted several advanced technologies through its in-house research and develpment ("R&D") team, giving it a competitive edge not only for bidding tenders in Hong Kong but also tapping the vast market of mainland China. Up to FY2019, the Group had project references in most of the 34 provinces level administrative regions in China. The Group also explored opportunities to provide environmental engineering service overseas, particularly to the relevant Belt and Road countries. During the Year, by working with a large China state-owned enterprise, the Group secured a contract for the supply of technologies and equipment (including 5-years operation), for a wastewater treatment plant project in Nepal.
Information, Communication and Building Technology ("ICBT")
To ride the megatrend of the Smart City, the ICBT segment endeavours to offer solutions to help build green and intelligent buildings through integrating a wide range of information and communications technologies. During the Year, the ICBT segment recorded revenue amounting to HK$444.4 million.
In 2019, The Group's award-winning Cloud-based Chiller Plant Energy Management Platform was commercialised and has attracted the interest of many reputable clients of commercial buildings. A number of orders has been received and more are under negotiation. A Fault Detection & Diagnostic (FDD) software and an Energy Management Visualization (EMV) software are also developed and ready for official launch in FY2020, which aim to help better monitoring the working conditions of building services equipment and building energy consumption patterns. A new stream of income this year came from equipping office, commercial and government buildings with the Internet-of-Things ("IoT") infrastructure. For intelligent transport, the Group also secured an Automated Guided Vehicular (AGV) Parking System contract for the Hong Kong Science and Technology Park, which was the first commercialised smart parking system of its kind in Hong Kong, and is in the process of bidding for the second one.
Lifts & Escalators
The lifts & escalators segment encompasses the design, manufacturing (under the trade name of "Anlev"), sales, installation and maintenance of various lifts, escalators and moving walkways meeting different purposes and requirements. Capitalising on its outstanding performance ratings in safety and quality, the segment has realised steady growth, generating a revenue of HK$274.3 million.
During the Year, the Group received the first maintenance order of the Anlev Predictive Maintenance & Remote Monitoring System (APMRMS). On top of general new lift installation and maintenance projects, the increasing safety concern for lifts in society has led to many enquiries for modernisation of aged lifts. In FY2019, the Group secured contracts for modernisation of lifts of total value at HK$83.8 million and completed contracts of HK$44.5 million. Subsequent to Anlev's admission to the Hong Kong Housing Authority ("HKHA") approved contractor list for lift installations, the Group was awarded the first HKHA lift contract in the Year and is prepared to pursue more lift tenders from HKHA in the coming years. The Group was also awarded its first order in Mexico and Portugal respectively and signed new distributorship agreements in the Eurasian and Eastern Europe regions. The Group will put in extra effort to boost its business growth overseas, through targeting areas with a large market size and higher price level, while looking to engage incloser work relationships with its overseas partners.
Business Outlook
Despite the challenges in the global economy presented by the trade conflict between China and the United States of America as well as the coronavirus pandemic that started in January 2020, the Group still sees growth opportunities in its major markets, as driven by the favourable policies by the governments. Construction Industry Councilforecasted that the construction expenditure in Hong Kong is on a rising trend, from HK$245-$305 billion in FY2019-2020 to HK$275-$340 billion in FY2027-2028. The Group is forseeing a healthy pipeline of tenders and business opportunities to capture in 2020 and beyond, and is cautiously optimistic about the business outlook and further improvement in the upcoming years.
Going forward, the Group will stay alert and spare no effort to foster innovation and application of technologies, while continuously supporting the sustainable business strategy through seizing various growth opportunities for its four business segments. Meanwhile, the Group is actively pursuing merger and acquisition opportunities to facilitate its overall business growth. The Group has conducted preliminary enquiries with companies in South East Asia, North America and Europe in building services and lifts and escalators segments respectively. With a healthy liquidity position, the Group is in a favourable position and will continue to look for opportunities such as acquisition and formation of joint ventures to expand its various business segments in the future.
Dr. Otto Poon added, "With the Group's strong commitment and continuous investment in innovation, technology, process improvement, professional development, and sustainable business growth, we are confident in harvesting material benefits of improved efficiency, productivity and competitiveness in our operations and opening up new business opportunities to continue strengthening the market leadership position and increasing shareholder value going forward."
For further details of the 2019 annual results, please refer to the announcement that has been filed with The Stock Exchange of Hong Kong Limited.
https://doc.irasia.com/listco/hk/analogue/annual/2019/res.pdf
About Analogue Holdings Limited
Established in 1977 and headquartered in Hong Kong, the Group is a leading E&M engineering service provider in Hong Kong, with substantial operations in Macau and mainland China. The Group provides multi-disciplinary and comprehensive E&M engineering and technology services in different segments, including Building Services, Environmental Engineering, ICBT and Lifts & Escalators to a wide spectrum of customers from the banking, property development, education, entertainment, hospitality, information technology, data centres, transportation and utilities sectors, as well as departments of the Hong Kong SAR Government. The Group also manufactures and sells lifts and escalators internationally. Nanjing Canatal Data Centre Environmental Tech Company Limited, an associate of the Group specialised in manufacturing of precision air conditioners, has been listed on the main board of the Shanghai Stock Exchange since November 2017.
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source http://www.acnnewswire.com/press-release/english/58150/
China Southern Selected Growth Balanced Fund Wins Morningstar Balanced Fund Award
According to Morningstar's evaluation criteria, China Southern Selected Growth Balanced Fund has a five-star rating for the past three and five years of hybrid growth. In accordance with the data of Galaxy Securities Fund Research Center, by the end of 2019, the cumulative net growth rate of the fund since its establishment had reached 205.7%, its net growth rates for the past three and five years were 57.17% and 126.95% respectively; a similar ranking is 9.16% and 3.45% respectively. With a long-term balanced and steady performance, this China Southern Selected Growth Balanced Fund, managed by Luo Shuai, stood out from the 290 selected funds of the same category and won the Morningstar Annual Balanced Fund Award.
China Southern Selected Growth Balanced Fund has also won many honorary awards: in 2018, it was awarded the five-year Open Hybrid Sustainable Winning Golden Bull Fund. In 2018 and 2019, it won the Balanced Star Fund with Five-year Sustainable Return Balance. (Source of Awards: China Securities Journal, Securities Times, March 2018, March 2019) (The past performance of the fund does not predict its future performance, and the performance of other funds managed by the fund manager does not guarantee the performance of the fund.)
Company Overview
On March 6th, 1998, China Southern Asset Management Co., Ltd. (hereinafter referred to as "Southern Asset Management") was officially established as one of the first domestic asset management companies approved and regulated by the China Securities Regulatory Commission (hereinafter referred to as "CSRC"), which symbolizes the start of our nation's "New Golden Era for Funds".
On January 4th, 2018, Southern Asset Management restructured for the Limited. On July 24th, 2019, following approval of the CSRC, Southern Asset Management realized its employee stock ownership plan (ESOP). Through employee shareholding and shareholder capital increase, the registered capital was increased to CNY 361.72 million. Currently, with its headquarters in Shenzhen, Southern Asset Management has 6 branches and 2 subsidiaries.
Southern Asset Management has stood the tests of time throughout periodic shifts between bull and bear market in Chinese capital market. By showing stable and sustainable performances and providing improved and professional services, Southern Asset Management managed to continuously build the trust and recognition of a wide range of investors, including mutual fund investors, the National Council for Social Security Fund, corporate annuity clients and high-net-worth clients.
Southern Asset Management has grown into one of the industry leaders that boasts diverse range of products, comprehensive type of business activities, exceptional investment performance and a large scale of assets under management. As of December 31th, 2019, Southern Asset Management and its subsidiaries have a scale of combined assets under management (AUM) that totaled USD 153.9 billion.
Media Contact: Si Chen
E: chensi@southernfund.com
China Southern Asset Management
URL: https://southernfund.com
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WCI Obtains Authorised Supervision from Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
TORONTO, Mar 27, 2020 - (JCN Newswire) - On February 3, 2020, West Capital International (WCI) obtained authorised supervision from Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with immediate effect, meaning WCI officially entered the Canadian financial market and began to provide services for Canadian investors.
Mission-Promoting the Development of World Investment Innovation Model
WCI has invested about US$ 500 million in financial education since 2017. It has hired a large number of financial education elites from all over the world to teach people to understand the new economic form and master the most advanced new investment mode in the world. The main group of the education program is customers who have a certain understanding of the global economic innovation. It provides independent financial supervision services to the world's middle and upper income groups and conducts new financial supervision other than traditional investment and financial management forms.
Top asset security capabilities
WCI has been adhering to the principle of win-win operation and the principle of legal operation. It has successively won the supervision of many authoritative monitoring organizations such as the National Futures Association (NFA), Australian Trust YOU CAN TRUST, Canada's Financial Transaction and Report Analysis Center (MSB), etc. WCI is a company that directly provides additional and extensive protection to customer groups, and proudly provides safe and worry-free investment plans for customer funds. The safety of customer funds is the top priority. WCI Capital Invests in Hong Kong and Shanghai Banking Corporation to Launch the Best Guarantee for Guaranteeing the Capital of the First Phase US$ 200 million Cheque. In addition, WCI Capital will present an equivalent cheque of Standard Chartered Bank segregated account.
About WCI
As a 6-star international investment trust, WCI was established in 1988. Its headquarters are now located in Russia and Ukraine. WCI has a strong financial background, and its international professional traders have more than 30 years of experience. Since its establishment, it has been focusing on financial derivatives investment and specialized in foreign exchange, stock index, international futures, etc. WCI continues to conduct necessary market research and development to keep pace with the changing financial markets of global business. The trading team carries out high probability trading and regularly evaluates the algorithms of trading tools as well as new cross-border trading tools.
Please contact:
Bryant Chai, Toronto, Canada
West Capital International Ltd
enquiry@westcapitaltrading.com
http://www.westcapitaltrading.com
Copyright 2020 JCN Newswire. All rights reserved. www.jcnnewswire.com Via JCN Newswire https://ift.tt/2pbRN02
Mission-Promoting the Development of World Investment Innovation Model
WCI has invested about US$ 500 million in financial education since 2017. It has hired a large number of financial education elites from all over the world to teach people to understand the new economic form and master the most advanced new investment mode in the world. The main group of the education program is customers who have a certain understanding of the global economic innovation. It provides independent financial supervision services to the world's middle and upper income groups and conducts new financial supervision other than traditional investment and financial management forms.
Top asset security capabilities
WCI has been adhering to the principle of win-win operation and the principle of legal operation. It has successively won the supervision of many authoritative monitoring organizations such as the National Futures Association (NFA), Australian Trust YOU CAN TRUST, Canada's Financial Transaction and Report Analysis Center (MSB), etc. WCI is a company that directly provides additional and extensive protection to customer groups, and proudly provides safe and worry-free investment plans for customer funds. The safety of customer funds is the top priority. WCI Capital Invests in Hong Kong and Shanghai Banking Corporation to Launch the Best Guarantee for Guaranteeing the Capital of the First Phase US$ 200 million Cheque. In addition, WCI Capital will present an equivalent cheque of Standard Chartered Bank segregated account.
About WCI
As a 6-star international investment trust, WCI was established in 1988. Its headquarters are now located in Russia and Ukraine. WCI has a strong financial background, and its international professional traders have more than 30 years of experience. Since its establishment, it has been focusing on financial derivatives investment and specialized in foreign exchange, stock index, international futures, etc. WCI continues to conduct necessary market research and development to keep pace with the changing financial markets of global business. The trading team carries out high probability trading and regularly evaluates the algorithms of trading tools as well as new cross-border trading tools.
Please contact:
Bryant Chai, Toronto, Canada
West Capital International Ltd
enquiry@westcapitaltrading.com
http://www.westcapitaltrading.com
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Shenwan Hongyuan Announces 2019 Annual Results
HONG KONG, Mar 28, 2020 - (JCN Newswire) - Shenwan Hongyuan Group Co., Ltd. (hereinafter referred to as "Shenwan Hongyuan" or the "Company"; stock code: 6806.HK; 000166.SZ) announced its annual results for the 12 months ended 31 December 2019 (the "Reporting Period").
During the Reporting Period, the Company achieved total revenue and other income of RMB33.252 billion, up 37.92% YOY; profit before income tax of RMB6.927 billion, increasing 33.54% YOY; profit attributable to the shareholders of the Company for the period of RMB5.735 billion, a YOY increase of 37.86%; basic earnings per share of RMB 0.24, 26.32% higher than in 2018; 7.41% in its weighted average return on net assets ratio, rising by 1.22 percentage points YOY.
Benefiting from a market rebound and accurate strategy transformation, the Company's four major business segments including enterprise finance, personal finance, institutional services and trading, and investment management all recorded steady growth and further increased market shares. Among them, revenue from the Company's enterprise finance segment increased 25.47% YOY to RMB2.718 billion; personal finance grew 1.86% to RMB11.345 billion; institutional services and trading surged by 93.66% to RMB17.166 billion; and investment management rose by 4.18% to RMB2.023 billion.
Enterprise finance business: Seize market opportunities, participate in the STAR Market, and steadily expand the scope of business
In 2019, the Company's investment banking arm fully participated in the construction of the STAR Market, developed a full range of fixed income financing businesses and continued to increased efforts in the development of new projects to increase project reserves. During the Reporting Period, the Company completed 13 equity financing projects (including 3 IPOs and 10 refinancing projects) with a financing amount of RMB13.879 billion. In particular, "Anji Technology", was responsible for sponsoring and undertaking, was one of the first batch of enterprises listed in the STAR Market; six M&A and restructuring transactions were approved by the M&A and restructuring committee of the CSRC, ranking fifth in the industry, up by 13 in ranking as compared with the last year; 79 enterprise and corporate bond projects, and 493 local government bond projects with an underwriting amount of RMB87 billion, the Company was rated as an outstanding lead underwriter of corporate bonds by the Shenzhen Stock Exchange.
Personal finance business: Actively capture market opportunities, introduce the assets of major clients, and promote institutional transformation for clients
In 2019, the overall capital market rebounded and saw vigorous trading. As of the end of the Reporting Period, client securities under the custody of the Company amounted to RMB3.20 trillion, representing a year-on-year increase of 33.67% and a market share of 7.18%, ranking among the top in the industry. At the end of the period, the brokerage business had nearly 7.271 million retail customers, representing an increase of 11.04% as compared with the end of the previous year. The new securities accounts opened by companies reached approximately 710,800, representing an increase of 118.71% over the same period of last year. The monthly active users of Big Winner APP reaching 1,121,100.
The Company's future business line, daily average customer equity and total customer equity peaked at record highs. Shenwan Futures had been awarded the highest Class A Grade AA rating in the classified evaluation of futures companies by the CSRC for six consecutive years, and it had also been granted approximately 40 awards and honours by the financial industry, government authorities, exchanges, mainstream media, etc.; Hongyuan Futures further strengthened its business layout, further developed its new business, and applied for qualifications for fund sales business. Breakthroughs to varying degrees were achieved in terms of basis trading business, market making business, and options business.
During the Reporting Period, by fully leveraging on the position as one of the first batch of qualified brokers for securities refinancing business in the STAR Market, the Company accelerated institutional transformation of clients through capturing market trends and expanding the source of securities, with RMB51.71 billion in ending balance and a market share rate of 5.05% at the end of 2019.
The Company's stock-backed lending business actively responded to change in the market environment, and further strengthened its project risk management. As of the end of the Reporting Period, the Company's stock-backed lending business has had a balance of RMB24.488 billion, decreasing by 43.94% over the end of the previous year. The collateral coverage ratio of stock-backed lending contracts was 243.63% on average.
The sales of financial product business line of the Company devoted great efforts to both the mutual funds and private equity funds. During the Reporting Period, the Company's total sales of its own financial products and third-party products reached RMB63.899 billion and RMB46.594 billion respectively.
Institutional services and trading business: Strengthen research input and the building of sales and service capabilities, as well as continuously enriching product portfolio
During the Reporting Period, the Company's institutional services and trading business recorded total revenue and other income of RMB17.166 billion, representing a year-on-year increase of 93.66%. Among them, revenue generated from units leasing amounted to RMB422 million, representing an increase of 3.97% over the end of the previous year,, and the market share of income from units leasing was 4.2034%, maintaining in the top rank in the industry; as for the PB System business, the Company standardised the development of PB trading system to achieve full-market and full-variety coverage. As of the end of 2019, there were 487 PB System customers with a total scale of RMB114.1 billion; the fund operation outsourcing service of the Company had passed the ISAE3402 international certification for two consecutive years; the Company obtained the qualification for custody of securities investment funds.
The Company's research and consultation business line continuously improved in research quality and market influence. In 2019, SWS Research held more than 40 quality conferences and won the first place of "Local Gold Medal Research Team", 23 individual research awards in the "13th Crystal Ball Awards For Chinese Sell-Side Analysts", the 4th place of the "The Most Influential Research Institutions", and individual awards in 10 research fields in the "17th Best Analyst".
The Company's FICC business line closely followed the development of the market, with the investment return far exceeding the average return of the open bond fund, and profit contribution once again reaching a record high; with its gradually improving business layout, the Company acquired the qualifications for treasury bonds futures market-making business and main market maker for listed funds, as well as qualifications to quote in the "Bond Connect".
The Company continued to promote its equity sales and trading business, resulting in steady increase in its overall profitability. Furthermore, the Company vigorously developed market-making business and obtained a number of important business qualifications including the main market maker of the Shanghai and Shenzhen 300ETF options from the Shanghai Stock Exchange, the main market maker of the Shanghai and Shenzhen 300ETF options from the Shenzhen Stock Exchange, the market maker of stock index options of the Shanghai and Shenzhen 300 index from China Financial Futures Exchange and the market maker of commodity options (PTA, methanol) from Zhengzhou Commodity Exchange. The Company continuously enriched the product lines of its derivatives business and strengthen its customer stickiness. According to the Securities Association of China, during the Reporting Period, the Company's market share of OTC derivatives business stood at 12.3%, ranking among the top five in the industry in respect of cumulative scale.
Investment management business: Combine internal and external resources to provide diverse asset allocation plans
The investment management business of the Company consists of asset management, mutual fund management and private equity fund management. During the Reporting Period, the Company's investment management business segment recorded total revenue and other income of RMB2.023 billion, representing a year-on-year increase of 4.18%. Net income from the Company's asset management business showed relatively rapid growth in spite of adversity, ranked 5th in the industry, climbing one place from previous year; income structure was further optimised, with revenue from the active management business constituting 86% of total revenue, up 11 percentage points YOY.
The Company carries out the mutual fund management business principally through its controlled subsidiary SWS MU and its invested company Fullgoal Fund. As of the end of the Reporting Period, the scale of assets under its management was RMB76.2 billion, representing an increase of 46% from the end of the previous year. The scale of mutual funds under Fullgoal Fund's management was RMB339.059 billion, representing an increase of over 70% over the end of the last year. The Company maintained excellent overall investment performance in various major categories of products such as active equity, quantitative index and fixed income.
The Company carries out the private equity fund management business principally through Shenwan Hongyuan Industrial Investment, Hongyuan Huifu and Shenyin & Wanguo Investment. Relying on the capital market, the Company vigorously developed the private equity fund business and strengthened cooperation with key provinces and relevant listed groups, large state-owned enterprises, etc., to comprehensively serve the development of the real economy and industrial transformation and upgrades.
Outlook: Implement the "principal investment + investment banking" strategy to ensure the Company's healthy and continuous development
As the multi-layered capital system gradually improves and various measures to open the financial industry are continuously launched, the securities sector faces new development opportunities from increasing industry consolidation. Shenwan Hongyuan will follow the trend and has set a strategic goal to "become a financial service provider which relies on the capital market, focuses on securities businesses, and is featured by "principal investment + investment banking", serving the general public, supporting solid economic development and optimising resources allocation. In respect of the tasks for fully implementing the strategy of "principal investment + investment banking", the Company will expedite its resource layouts, continuously improve its competitiveness and profitability, enhance its team and capability building, and perfect its internal control and risk management system, so as to ensure the Company's continuous, healthy development. Meanwhile, the Company will also actively respond to the negative impact of the novel coronavirus epidemic on its various businesses, adhere to "strong efforts on both aspects" of epidemic prevention and operation, and join hands with the Chinese to win this people's war, general war and blockade against the pandemic in a determined way.
About Shenwan Hongyuan Group Co., Ltd.
Shenwan Hongyuan Group Co., Ltd. is a leading investment holding group focused on securities businesses in China. Shenwan Hongyuan Group is committed to providing diverse financial products and services to clients. In January 2015, Shenwan Hongyuan Group emerged from the merger between Shenyin & Wanguo Securities and Hong Yuan Securities, which was the largest merger in the PRC securities industry at that time according to Dealogic, forming the corporate structure by "an investment parent company, Shenwan Hongyuan Group, and a subsidiary securities firm, Shenwan Hongyuan Securities", and it listed on the Shenzhen Stock Exchange. In April 2019, Shenwan Hongyuan Group issued H shares and was successfully listed on the Hong Kong Stock Exchange.
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During the Reporting Period, the Company achieved total revenue and other income of RMB33.252 billion, up 37.92% YOY; profit before income tax of RMB6.927 billion, increasing 33.54% YOY; profit attributable to the shareholders of the Company for the period of RMB5.735 billion, a YOY increase of 37.86%; basic earnings per share of RMB 0.24, 26.32% higher than in 2018; 7.41% in its weighted average return on net assets ratio, rising by 1.22 percentage points YOY.
Benefiting from a market rebound and accurate strategy transformation, the Company's four major business segments including enterprise finance, personal finance, institutional services and trading, and investment management all recorded steady growth and further increased market shares. Among them, revenue from the Company's enterprise finance segment increased 25.47% YOY to RMB2.718 billion; personal finance grew 1.86% to RMB11.345 billion; institutional services and trading surged by 93.66% to RMB17.166 billion; and investment management rose by 4.18% to RMB2.023 billion.
Enterprise finance business: Seize market opportunities, participate in the STAR Market, and steadily expand the scope of business
In 2019, the Company's investment banking arm fully participated in the construction of the STAR Market, developed a full range of fixed income financing businesses and continued to increased efforts in the development of new projects to increase project reserves. During the Reporting Period, the Company completed 13 equity financing projects (including 3 IPOs and 10 refinancing projects) with a financing amount of RMB13.879 billion. In particular, "Anji Technology", was responsible for sponsoring and undertaking, was one of the first batch of enterprises listed in the STAR Market; six M&A and restructuring transactions were approved by the M&A and restructuring committee of the CSRC, ranking fifth in the industry, up by 13 in ranking as compared with the last year; 79 enterprise and corporate bond projects, and 493 local government bond projects with an underwriting amount of RMB87 billion, the Company was rated as an outstanding lead underwriter of corporate bonds by the Shenzhen Stock Exchange.
Personal finance business: Actively capture market opportunities, introduce the assets of major clients, and promote institutional transformation for clients
In 2019, the overall capital market rebounded and saw vigorous trading. As of the end of the Reporting Period, client securities under the custody of the Company amounted to RMB3.20 trillion, representing a year-on-year increase of 33.67% and a market share of 7.18%, ranking among the top in the industry. At the end of the period, the brokerage business had nearly 7.271 million retail customers, representing an increase of 11.04% as compared with the end of the previous year. The new securities accounts opened by companies reached approximately 710,800, representing an increase of 118.71% over the same period of last year. The monthly active users of Big Winner APP reaching 1,121,100.
The Company's future business line, daily average customer equity and total customer equity peaked at record highs. Shenwan Futures had been awarded the highest Class A Grade AA rating in the classified evaluation of futures companies by the CSRC for six consecutive years, and it had also been granted approximately 40 awards and honours by the financial industry, government authorities, exchanges, mainstream media, etc.; Hongyuan Futures further strengthened its business layout, further developed its new business, and applied for qualifications for fund sales business. Breakthroughs to varying degrees were achieved in terms of basis trading business, market making business, and options business.
During the Reporting Period, by fully leveraging on the position as one of the first batch of qualified brokers for securities refinancing business in the STAR Market, the Company accelerated institutional transformation of clients through capturing market trends and expanding the source of securities, with RMB51.71 billion in ending balance and a market share rate of 5.05% at the end of 2019.
The Company's stock-backed lending business actively responded to change in the market environment, and further strengthened its project risk management. As of the end of the Reporting Period, the Company's stock-backed lending business has had a balance of RMB24.488 billion, decreasing by 43.94% over the end of the previous year. The collateral coverage ratio of stock-backed lending contracts was 243.63% on average.
The sales of financial product business line of the Company devoted great efforts to both the mutual funds and private equity funds. During the Reporting Period, the Company's total sales of its own financial products and third-party products reached RMB63.899 billion and RMB46.594 billion respectively.
Institutional services and trading business: Strengthen research input and the building of sales and service capabilities, as well as continuously enriching product portfolio
During the Reporting Period, the Company's institutional services and trading business recorded total revenue and other income of RMB17.166 billion, representing a year-on-year increase of 93.66%. Among them, revenue generated from units leasing amounted to RMB422 million, representing an increase of 3.97% over the end of the previous year,, and the market share of income from units leasing was 4.2034%, maintaining in the top rank in the industry; as for the PB System business, the Company standardised the development of PB trading system to achieve full-market and full-variety coverage. As of the end of 2019, there were 487 PB System customers with a total scale of RMB114.1 billion; the fund operation outsourcing service of the Company had passed the ISAE3402 international certification for two consecutive years; the Company obtained the qualification for custody of securities investment funds.
The Company's research and consultation business line continuously improved in research quality and market influence. In 2019, SWS Research held more than 40 quality conferences and won the first place of "Local Gold Medal Research Team", 23 individual research awards in the "13th Crystal Ball Awards For Chinese Sell-Side Analysts", the 4th place of the "The Most Influential Research Institutions", and individual awards in 10 research fields in the "17th Best Analyst".
The Company's FICC business line closely followed the development of the market, with the investment return far exceeding the average return of the open bond fund, and profit contribution once again reaching a record high; with its gradually improving business layout, the Company acquired the qualifications for treasury bonds futures market-making business and main market maker for listed funds, as well as qualifications to quote in the "Bond Connect".
The Company continued to promote its equity sales and trading business, resulting in steady increase in its overall profitability. Furthermore, the Company vigorously developed market-making business and obtained a number of important business qualifications including the main market maker of the Shanghai and Shenzhen 300ETF options from the Shanghai Stock Exchange, the main market maker of the Shanghai and Shenzhen 300ETF options from the Shenzhen Stock Exchange, the market maker of stock index options of the Shanghai and Shenzhen 300 index from China Financial Futures Exchange and the market maker of commodity options (PTA, methanol) from Zhengzhou Commodity Exchange. The Company continuously enriched the product lines of its derivatives business and strengthen its customer stickiness. According to the Securities Association of China, during the Reporting Period, the Company's market share of OTC derivatives business stood at 12.3%, ranking among the top five in the industry in respect of cumulative scale.
Investment management business: Combine internal and external resources to provide diverse asset allocation plans
The investment management business of the Company consists of asset management, mutual fund management and private equity fund management. During the Reporting Period, the Company's investment management business segment recorded total revenue and other income of RMB2.023 billion, representing a year-on-year increase of 4.18%. Net income from the Company's asset management business showed relatively rapid growth in spite of adversity, ranked 5th in the industry, climbing one place from previous year; income structure was further optimised, with revenue from the active management business constituting 86% of total revenue, up 11 percentage points YOY.
The Company carries out the mutual fund management business principally through its controlled subsidiary SWS MU and its invested company Fullgoal Fund. As of the end of the Reporting Period, the scale of assets under its management was RMB76.2 billion, representing an increase of 46% from the end of the previous year. The scale of mutual funds under Fullgoal Fund's management was RMB339.059 billion, representing an increase of over 70% over the end of the last year. The Company maintained excellent overall investment performance in various major categories of products such as active equity, quantitative index and fixed income.
The Company carries out the private equity fund management business principally through Shenwan Hongyuan Industrial Investment, Hongyuan Huifu and Shenyin & Wanguo Investment. Relying on the capital market, the Company vigorously developed the private equity fund business and strengthened cooperation with key provinces and relevant listed groups, large state-owned enterprises, etc., to comprehensively serve the development of the real economy and industrial transformation and upgrades.
Outlook: Implement the "principal investment + investment banking" strategy to ensure the Company's healthy and continuous development
As the multi-layered capital system gradually improves and various measures to open the financial industry are continuously launched, the securities sector faces new development opportunities from increasing industry consolidation. Shenwan Hongyuan will follow the trend and has set a strategic goal to "become a financial service provider which relies on the capital market, focuses on securities businesses, and is featured by "principal investment + investment banking", serving the general public, supporting solid economic development and optimising resources allocation. In respect of the tasks for fully implementing the strategy of "principal investment + investment banking", the Company will expedite its resource layouts, continuously improve its competitiveness and profitability, enhance its team and capability building, and perfect its internal control and risk management system, so as to ensure the Company's continuous, healthy development. Meanwhile, the Company will also actively respond to the negative impact of the novel coronavirus epidemic on its various businesses, adhere to "strong efforts on both aspects" of epidemic prevention and operation, and join hands with the Chinese to win this people's war, general war and blockade against the pandemic in a determined way.
About Shenwan Hongyuan Group Co., Ltd.
Shenwan Hongyuan Group Co., Ltd. is a leading investment holding group focused on securities businesses in China. Shenwan Hongyuan Group is committed to providing diverse financial products and services to clients. In January 2015, Shenwan Hongyuan Group emerged from the merger between Shenyin & Wanguo Securities and Hong Yuan Securities, which was the largest merger in the PRC securities industry at that time according to Dealogic, forming the corporate structure by "an investment parent company, Shenwan Hongyuan Group, and a subsidiary securities firm, Shenwan Hongyuan Securities", and it listed on the Shenzhen Stock Exchange. In April 2019, Shenwan Hongyuan Group issued H shares and was successfully listed on the Hong Kong Stock Exchange.
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Shenwan Hongyuan Announces 2019 Annual Results
HONG KONG, Mar 28, 2020 - (ACN Newswire) - Shenwan Hongyuan Group Co., Ltd. (hereinafter referred to as "Shenwan Hongyuan" or the "Company"; stock code: 6806.HK; 000166.SZ) announced its annual results for the 12 months ended 31 December 2019 (the "Reporting Period").
During the Reporting Period, the Company achieved total revenue and other income of RMB33.252 billion, up 37.92% YOY; profit before income tax of RMB6.927 billion, increasing 33.54% YOY; profit attributable to the shareholders of the Company for the period of RMB5.735 billion, a YOY increase of 37.86%; basic earnings per share of RMB 0.24, 26.32% higher than in 2018; 7.41% in its weighted average return on net assets ratio, rising by 1.22 percentage points YOY.
Benefiting from a market rebound and accurate strategy transformation, the Company's four major business segments including enterprise finance, personal finance, institutional services and trading, and investment management all recorded steady growth and further increased market shares. Among them, revenue from the Company's enterprise finance segment increased 25.47% YOY to RMB2.718 billion; personal finance grew 1.86% to RMB11.345 billion; institutional services and trading surged by 93.66% to RMB17.166 billion; and investment management rose by 4.18% to RMB2.023 billion.
Enterprise finance business: Seize market opportunities, participate in the STAR Market, and steadily expand the scope of business
In 2019, the Company's investment banking arm fully participated in the construction of the STAR Market, developed a full range of fixed income financing businesses and continued to increased efforts in the development of new projects to increase project reserves. During the Reporting Period, the Company completed 13 equity financing projects (including 3 IPOs and 10 refinancing projects) with a financing amount of RMB13.879 billion. In particular, "Anji Technology", was responsible for sponsoring and undertaking, was one of the first batch of enterprises listed in the STAR Market; six M&A and restructuring transactions were approved by the M&A and restructuring committee of the CSRC, ranking fifth in the industry, up by 13 in ranking as compared with the last year; 79 enterprise and corporate bond projects, and 493 local government bond projects with an underwriting amount of RMB87 billion, the Company was rated as an outstanding lead underwriter of corporate bonds by the Shenzhen Stock Exchange.
Personal finance business: Actively capture market opportunities, introduce the assets of major clients, and promote institutional transformation for clients
In 2019, the overall capital market rebounded and saw vigorous trading. As of the end of the Reporting Period, client securities under the custody of the Company amounted to RMB3.20 trillion, representing a year-on-year increase of 33.67% and a market share of 7.18%, ranking among the top in the industry. At the end of the period, the brokerage business had nearly 7.271 million retail customers, representing an increase of 11.04% as compared with the end of the previous year. The new securities accounts opened by companies reached approximately 710,800, representing an increase of 118.71% over the same period of last year. The monthly active users of Big Winner APP reaching 1,121,100.
The Company's future business line, daily average customer equity and total customer equity peaked at record highs. Shenwan Futures had been awarded the highest Class A Grade AA rating in the classified evaluation of futures companies by the CSRC for six consecutive years, and it had also been granted approximately 40 awards and honours by the financial industry, government authorities, exchanges, mainstream media, etc.; Hongyuan Futures further strengthened its business layout, further developed its new business, and applied for qualifications for fund sales business. Breakthroughs to varying degrees were achieved in terms of basis trading business, market making business, and options business.
During the Reporting Period, by fully leveraging on the position as one of the first batch of qualified brokers for securities refinancing business in the STAR Market, the Company accelerated institutional transformation of clients through capturing market trends and expanding the source of securities, with RMB51.71 billion in ending balance and a market share rate of 5.05% at the end of 2019.
The Company's stock-backed lending business actively responded to change in the market environment, and further strengthened its project risk management. As of the end of the Reporting Period, the Company's stock-backed lending business has had a balance of RMB24.488 billion, decreasing by 43.94% over the end of the previous year. The collateral coverage ratio of stock-backed lending contracts was 243.63% on average.
The sales of financial product business line of the Company devoted great efforts to both the mutual funds and private equity funds. During the Reporting Period, the Company's total sales of its own financial products and third-party products reached RMB63.899 billion and RMB46.594 billion respectively.
Institutional services and trading business: Strengthen research input and the building of sales and service capabilities, as well as continuously enriching product portfolio
During the Reporting Period, the Company's institutional services and trading business recorded total revenue and other income of RMB17.166 billion, representing a year-on-year increase of 93.66%. Among them, revenue generated from units leasing amounted to RMB422 million, representing an increase of 3.97% over the end of the previous year,, and the market share of income from units leasing was 4.2034%, maintaining in the top rank in the industry; as for the PB System business, the Company standardised the development of PB trading system to achieve full-market and full-variety coverage. As of the end of 2019, there were 487 PB System customers with a total scale of RMB114.1 billion; the fund operation outsourcing service of the Company had passed the ISAE3402 international certification for two consecutive years; the Company obtained the qualification for custody of securities investment funds.
The Company's research and consultation business line continuously improved in research quality and market influence. In 2019, SWS Research held more than 40 quality conferences and won the first place of "Local Gold Medal Research Team", 23 individual research awards in the "13th Crystal Ball Awards For Chinese Sell-Side Analysts", the 4th place of the "The Most Influential Research Institutions", and individual awards in 10 research fields in the "17th Best Analyst".
The Company's FICC business line closely followed the development of the market, with the investment return far exceeding the average return of the open bond fund, and profit contribution once again reaching a record high; with its gradually improving business layout, the Company acquired the qualifications for treasury bonds futures market-making business and main market maker for listed funds, as well as qualifications to quote in the "Bond Connect".
The Company continued to promote its equity sales and trading business, resulting in steady increase in its overall profitability. Furthermore, the Company vigorously developed market-making business and obtained a number of important business qualifications including the main market maker of the Shanghai and Shenzhen 300ETF options from the Shanghai Stock Exchange, the main market maker of the Shanghai and Shenzhen 300ETF options from the Shenzhen Stock Exchange, the market maker of stock index options of the Shanghai and Shenzhen 300 index from China Financial Futures Exchange and the market maker of commodity options (PTA, methanol) from Zhengzhou Commodity Exchange. The Company continuously enriched the product lines of its derivatives business and strengthen its customer stickiness. According to the Securities Association of China, during the Reporting Period, the Company's market share of OTC derivatives business stood at 12.3%, ranking among the top five in the industry in respect of cumulative scale.
Investment management business: Combine internal and external resources to provide diverse asset allocation plans
The investment management business of the Company consists of asset management, mutual fund management and private equity fund management. During the Reporting Period, the Company's investment management business segment recorded total revenue and other income of RMB2.023 billion, representing a year-on-year increase of 4.18%. Net income from the Company's asset management business showed relatively rapid growth in spite of adversity, ranked 5th in the industry, climbing one place from previous year; income structure was further optimised, with revenue from the active management business constituting 86% of total revenue, up 11 percentage points YOY.
The Company carries out the mutual fund management business principally through its controlled subsidiary SWS MU and its invested company Fullgoal Fund. As of the end of the Reporting Period, the scale of assets under its management was RMB76.2 billion, representing an increase of 46% from the end of the previous year. The scale of mutual funds under Fullgoal Fund's management was RMB339.059 billion, representing an increase of over 70% over the end of the last year. The Company maintained excellent overall investment performance in various major categories of products such as active equity, quantitative index and fixed income.
The Company carries out the private equity fund management business principally through Shenwan Hongyuan Industrial Investment, Hongyuan Huifu and Shenyin & Wanguo Investment. Relying on the capital market, the Company vigorously developed the private equity fund business and strengthened cooperation with key provinces and relevant listed groups, large state-owned enterprises, etc., to comprehensively serve the development of the real economy and industrial transformation and upgrades.
Outlook: Implement the "principal investment + investment banking" strategy to ensure the Company's healthy and continuous development
As the multi-layered capital system gradually improves and various measures to open the financial industry are continuously launched, the securities sector faces new development opportunities from increasing industry consolidation. Shenwan Hongyuan will follow the trend and has set a strategic goal to "become a financial service provider which relies on the capital market, focuses on securities businesses, and is featured by "principal investment + investment banking", serving the general public, supporting solid economic development and optimising resources allocation. In respect of the tasks for fully implementing the strategy of "principal investment + investment banking", the Company will expedite its resource layouts, continuously improve its competitiveness and profitability, enhance its team and capability building, and perfect its internal control and risk management system, so as to ensure the Company's continuous, healthy development. Meanwhile, the Company will also actively respond to the negative impact of the novel coronavirus epidemic on its various businesses, adhere to "strong efforts on both aspects" of epidemic prevention and operation, and join hands with the Chinese to win this people's war, general war and blockade against the pandemic in a determined way.
About Shenwan Hongyuan Group Co., Ltd.
Shenwan Hongyuan Group Co., Ltd. is a leading investment holding group focused on securities businesses in China. Shenwan Hongyuan Group is committed to providing diverse financial products and services to clients. In January 2015, Shenwan Hongyuan Group emerged from the merger between Shenyin & Wanguo Securities and Hong Yuan Securities, which was the largest merger in the PRC securities industry at that time according to Dealogic, forming the corporate structure by "an investment parent company, Shenwan Hongyuan Group, and a subsidiary securities firm, Shenwan Hongyuan Securities", and it listed on the Shenzhen Stock Exchange. In April 2019, Shenwan Hongyuan Group issued H shares and was successfully listed on the Hong Kong Stock Exchange.
Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
source http://www.acnnewswire.com/press-release/english/58144/
During the Reporting Period, the Company achieved total revenue and other income of RMB33.252 billion, up 37.92% YOY; profit before income tax of RMB6.927 billion, increasing 33.54% YOY; profit attributable to the shareholders of the Company for the period of RMB5.735 billion, a YOY increase of 37.86%; basic earnings per share of RMB 0.24, 26.32% higher than in 2018; 7.41% in its weighted average return on net assets ratio, rising by 1.22 percentage points YOY.
Benefiting from a market rebound and accurate strategy transformation, the Company's four major business segments including enterprise finance, personal finance, institutional services and trading, and investment management all recorded steady growth and further increased market shares. Among them, revenue from the Company's enterprise finance segment increased 25.47% YOY to RMB2.718 billion; personal finance grew 1.86% to RMB11.345 billion; institutional services and trading surged by 93.66% to RMB17.166 billion; and investment management rose by 4.18% to RMB2.023 billion.
Enterprise finance business: Seize market opportunities, participate in the STAR Market, and steadily expand the scope of business
In 2019, the Company's investment banking arm fully participated in the construction of the STAR Market, developed a full range of fixed income financing businesses and continued to increased efforts in the development of new projects to increase project reserves. During the Reporting Period, the Company completed 13 equity financing projects (including 3 IPOs and 10 refinancing projects) with a financing amount of RMB13.879 billion. In particular, "Anji Technology", was responsible for sponsoring and undertaking, was one of the first batch of enterprises listed in the STAR Market; six M&A and restructuring transactions were approved by the M&A and restructuring committee of the CSRC, ranking fifth in the industry, up by 13 in ranking as compared with the last year; 79 enterprise and corporate bond projects, and 493 local government bond projects with an underwriting amount of RMB87 billion, the Company was rated as an outstanding lead underwriter of corporate bonds by the Shenzhen Stock Exchange.
Personal finance business: Actively capture market opportunities, introduce the assets of major clients, and promote institutional transformation for clients
In 2019, the overall capital market rebounded and saw vigorous trading. As of the end of the Reporting Period, client securities under the custody of the Company amounted to RMB3.20 trillion, representing a year-on-year increase of 33.67% and a market share of 7.18%, ranking among the top in the industry. At the end of the period, the brokerage business had nearly 7.271 million retail customers, representing an increase of 11.04% as compared with the end of the previous year. The new securities accounts opened by companies reached approximately 710,800, representing an increase of 118.71% over the same period of last year. The monthly active users of Big Winner APP reaching 1,121,100.
The Company's future business line, daily average customer equity and total customer equity peaked at record highs. Shenwan Futures had been awarded the highest Class A Grade AA rating in the classified evaluation of futures companies by the CSRC for six consecutive years, and it had also been granted approximately 40 awards and honours by the financial industry, government authorities, exchanges, mainstream media, etc.; Hongyuan Futures further strengthened its business layout, further developed its new business, and applied for qualifications for fund sales business. Breakthroughs to varying degrees were achieved in terms of basis trading business, market making business, and options business.
During the Reporting Period, by fully leveraging on the position as one of the first batch of qualified brokers for securities refinancing business in the STAR Market, the Company accelerated institutional transformation of clients through capturing market trends and expanding the source of securities, with RMB51.71 billion in ending balance and a market share rate of 5.05% at the end of 2019.
The Company's stock-backed lending business actively responded to change in the market environment, and further strengthened its project risk management. As of the end of the Reporting Period, the Company's stock-backed lending business has had a balance of RMB24.488 billion, decreasing by 43.94% over the end of the previous year. The collateral coverage ratio of stock-backed lending contracts was 243.63% on average.
The sales of financial product business line of the Company devoted great efforts to both the mutual funds and private equity funds. During the Reporting Period, the Company's total sales of its own financial products and third-party products reached RMB63.899 billion and RMB46.594 billion respectively.
Institutional services and trading business: Strengthen research input and the building of sales and service capabilities, as well as continuously enriching product portfolio
During the Reporting Period, the Company's institutional services and trading business recorded total revenue and other income of RMB17.166 billion, representing a year-on-year increase of 93.66%. Among them, revenue generated from units leasing amounted to RMB422 million, representing an increase of 3.97% over the end of the previous year,, and the market share of income from units leasing was 4.2034%, maintaining in the top rank in the industry; as for the PB System business, the Company standardised the development of PB trading system to achieve full-market and full-variety coverage. As of the end of 2019, there were 487 PB System customers with a total scale of RMB114.1 billion; the fund operation outsourcing service of the Company had passed the ISAE3402 international certification for two consecutive years; the Company obtained the qualification for custody of securities investment funds.
The Company's research and consultation business line continuously improved in research quality and market influence. In 2019, SWS Research held more than 40 quality conferences and won the first place of "Local Gold Medal Research Team", 23 individual research awards in the "13th Crystal Ball Awards For Chinese Sell-Side Analysts", the 4th place of the "The Most Influential Research Institutions", and individual awards in 10 research fields in the "17th Best Analyst".
The Company's FICC business line closely followed the development of the market, with the investment return far exceeding the average return of the open bond fund, and profit contribution once again reaching a record high; with its gradually improving business layout, the Company acquired the qualifications for treasury bonds futures market-making business and main market maker for listed funds, as well as qualifications to quote in the "Bond Connect".
The Company continued to promote its equity sales and trading business, resulting in steady increase in its overall profitability. Furthermore, the Company vigorously developed market-making business and obtained a number of important business qualifications including the main market maker of the Shanghai and Shenzhen 300ETF options from the Shanghai Stock Exchange, the main market maker of the Shanghai and Shenzhen 300ETF options from the Shenzhen Stock Exchange, the market maker of stock index options of the Shanghai and Shenzhen 300 index from China Financial Futures Exchange and the market maker of commodity options (PTA, methanol) from Zhengzhou Commodity Exchange. The Company continuously enriched the product lines of its derivatives business and strengthen its customer stickiness. According to the Securities Association of China, during the Reporting Period, the Company's market share of OTC derivatives business stood at 12.3%, ranking among the top five in the industry in respect of cumulative scale.
Investment management business: Combine internal and external resources to provide diverse asset allocation plans
The investment management business of the Company consists of asset management, mutual fund management and private equity fund management. During the Reporting Period, the Company's investment management business segment recorded total revenue and other income of RMB2.023 billion, representing a year-on-year increase of 4.18%. Net income from the Company's asset management business showed relatively rapid growth in spite of adversity, ranked 5th in the industry, climbing one place from previous year; income structure was further optimised, with revenue from the active management business constituting 86% of total revenue, up 11 percentage points YOY.
The Company carries out the mutual fund management business principally through its controlled subsidiary SWS MU and its invested company Fullgoal Fund. As of the end of the Reporting Period, the scale of assets under its management was RMB76.2 billion, representing an increase of 46% from the end of the previous year. The scale of mutual funds under Fullgoal Fund's management was RMB339.059 billion, representing an increase of over 70% over the end of the last year. The Company maintained excellent overall investment performance in various major categories of products such as active equity, quantitative index and fixed income.
The Company carries out the private equity fund management business principally through Shenwan Hongyuan Industrial Investment, Hongyuan Huifu and Shenyin & Wanguo Investment. Relying on the capital market, the Company vigorously developed the private equity fund business and strengthened cooperation with key provinces and relevant listed groups, large state-owned enterprises, etc., to comprehensively serve the development of the real economy and industrial transformation and upgrades.
Outlook: Implement the "principal investment + investment banking" strategy to ensure the Company's healthy and continuous development
As the multi-layered capital system gradually improves and various measures to open the financial industry are continuously launched, the securities sector faces new development opportunities from increasing industry consolidation. Shenwan Hongyuan will follow the trend and has set a strategic goal to "become a financial service provider which relies on the capital market, focuses on securities businesses, and is featured by "principal investment + investment banking", serving the general public, supporting solid economic development and optimising resources allocation. In respect of the tasks for fully implementing the strategy of "principal investment + investment banking", the Company will expedite its resource layouts, continuously improve its competitiveness and profitability, enhance its team and capability building, and perfect its internal control and risk management system, so as to ensure the Company's continuous, healthy development. Meanwhile, the Company will also actively respond to the negative impact of the novel coronavirus epidemic on its various businesses, adhere to "strong efforts on both aspects" of epidemic prevention and operation, and join hands with the Chinese to win this people's war, general war and blockade against the pandemic in a determined way.
About Shenwan Hongyuan Group Co., Ltd.
Shenwan Hongyuan Group Co., Ltd. is a leading investment holding group focused on securities businesses in China. Shenwan Hongyuan Group is committed to providing diverse financial products and services to clients. In January 2015, Shenwan Hongyuan Group emerged from the merger between Shenyin & Wanguo Securities and Hong Yuan Securities, which was the largest merger in the PRC securities industry at that time according to Dealogic, forming the corporate structure by "an investment parent company, Shenwan Hongyuan Group, and a subsidiary securities firm, Shenwan Hongyuan Securities", and it listed on the Shenzhen Stock Exchange. In April 2019, Shenwan Hongyuan Group issued H shares and was successfully listed on the Hong Kong Stock Exchange.
Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
source http://www.acnnewswire.com/press-release/english/58144/
Shenwan Hongyuan Announces 2019 Annual Results
HONG KONG, Mar 28, 2020 - (JCN Newswire) - Shenwan Hongyuan Group Co., Ltd. (hereinafter referred to as "Shenwan Hongyuan" or the "Company"; stock code: 6806.HK; 000166.SZ) announced its annual results for the 12 months ended 31 December 2019 (the "Reporting Period").
During the Reporting Period, the Company achieved total revenue and other income of RMB24.593 billion, up 60.98% YOY; profit before income tax of RMB6.927 billion, increasing 33.54% YOY; profit attributable to the shareholders of the Company for the period of RMB5.735 billion, a YOY increase of 37.86%; basic earnings per share of RMB 0.24, 26.32% higher than in 2018; 7.41% in its weighted average return on net assets ratio, rising by 1.22 percentage points YOY.
Benefiting from a market rebound and accurate strategy transformation, the Company's four major business segments including enterprise finance, personal finance, institutional services and trading, and investment management all recorded steady growth and further increased market shares. Among them, revenue from the Company's enterprise finance segment increased 24.93% YOY to RMB2.293 billion; personal finance grew 11.70% to RMB7.234 billion; institutional services and trading surged by 142.65% to RMB13.399 billion; and investment management rose by 15.46% to RMB1.667 billion.
Enterprise finance business: Seize market opportunities, participate in the STAR Market, and steadily expand the scope of business
In 2019, the Company's investment banking arm fully participated in the construction of the STAR Market, developed a full range of fixed income financing businesses and continued to increased efforts in the development of new projects to increase project reserves. During the Reporting Period, the Company completed 13 equity financing projects (including 3 IPOs and 10 refinancing projects) with a financing amount of RMB13.879 billion. In particular, "Anji Technology", was responsible for sponsoring and undertaking, was one of the first batch of enterprises listed in the STAR Market; six M&A and restructuring transactions were approved by the M&A and restructuring committee of the CSRC, ranking fifth in the industry, up by 13 in ranking as compared with the last year; 79 enterprise and corporate bond projects, and 493 local government bond projects with an underwriting amount of RMB87 billion, the Company was rated as an outstanding lead underwriter of corporate bonds by the Shenzhen Stock Exchange.
Personal finance business: Actively capture market opportunities, introduce the assets of major clients, and promote institutional transformation for clients
In 2019, the overall capital market rebounded and saw vigorous trading. As of the end of the Reporting Period, client securities under the custody of the Company amounted to RMB3.20 trillion, representing a year-on-year increase of 33.67% and a market share of 7.18%, ranking among the top in the industry. At the end of the period, the brokerage business had nearly 7.271 million retail customers, representing an increase of 11.04% as compared with the end of the previous year. The new securities accounts opened by companies reached approximately 710,800, representing an increase of 118.71% over the same period of last year. The monthly active users of Big Winner APP reaching 1,120,000.
The Company's future business line, daily average customer equity and total customer equity peaked at record highs. Shenwan Futures had been awarded the highest Class A Grade AA rating in the classified evaluation of futures companies by the CSRC for six consecutive years, and it had also been granted approximately 40 awards and honours by the financial industry, government authorities, exchanges, mainstream media, etc.; Hongyuan Futures further strengthened its business layout, further developed its new business, and applied for qualifications for fund sales business. Breakthroughs to varying degrees were achieved in terms of basis trading business, market making business, and options business.
During the Reporting Period, by fully leveraging on the position as one of the first batch of qualified brokers for securities refinancing business in the STAR Market, the Company accelerated institutional transformation of clients through capturing market trends and expanding the source of securities, with RMB51.71 billion in ending balance and a market share rate of 5.05% at the end of 2019.
The Company's stock-backed lending business actively responded to change in the market environment, and further strengthened its project risk management. As of the end of the Reporting Period, the Company's stock-backed lending business has had a balance of RMB24.488 billion, decreasing by 43.94% over the end of the previous year. The collateral coverage ratio of stock-backed lending contracts was 243.63% on average.
The sales of financial product business line of the Company devoted great efforts to both the mutual funds and private equity funds. During the Reporting Period, the Company's total sales of its own financial products and third-party products reached RMB63.899 billion and RMB46.594 billion respectively.
Institutional services and trading business: Strengthen research input and the building of sales and service capabilities, as well as continuously enriching product portfolio
During the Reporting Period, the Company's institutional services and trading business recorded total revenue and other income of RMB13,399 million, representing a year-on-year increase of 142.65%. Among them, revenue generated from units leasing amounted to RMB422 million, representing an increase of 3.97% over the end of the previous year,, and the market share of income from units leasing was 4.2034%, maintaining in the top rank in the industry; as for the PB System business, the Company standardised the development of PB trading system to achieve full-market and full-variety coverage. As of the end of 2019, there were 487 PB System customers with a total scale of RMB114.1 billion; the fund operation outsourcing service of the Company had passed the ISAE3402 international certification for two consecutive years; the Company obtained the qualification for custody of securities investment funds.
The Company's research and consultation business line continuously improved in research quality and market influence. In 2019, SWS Research held more than 40 quality conferences and won the first place of "Local Gold Medal Research Team", 23 individual research awards in the" 13th Crystal Ball Awards For Chinese Sell-Side Analysts", the 4th place of the "The Most Influential Research Institutions", and individual awards in 10 research fields in the "17th Best Analyst".
The Company's FICC business line closely followed the development of the market, with the investment return far exceeding the average return of the open bond fund, and profit contribution once again reaching a record high; with its gradually improving business layout, the Company acquired the qualifications for treasury bonds futures market-making business and main market maker for listed funds, as well as qualifications to quote in the "Bond Connect".
The Company continued to promote its equity sales and trading business, resulting in steady increase in its overall profitability. Furthermore, the Company vigorously developed market-making business and obtained a number of important business qualifications including the main market maker of the Shanghai and Shenzhen 300ETF options from the Shanghai Stock Exchange, the main market maker of the Shanghai and Shenzhen 300ETF options from the Shenzhen Stock Exchange, the market maker of stock index options of the Shanghai and Shenzhen 300 index from China Financial Futures Exchange and the market maker of commodity options (PTA, methanol) from Zhengzhou Commodity Exchange. The Company continuously enriched the product lines of its derivatives business and strengthen its customer stickiness. According to the Securities Association of China, during the Reporting Period, the Company's market share of OTC derivatives business stood at 12.3%, ranking among the top five in the industry in respect of cumulative scale.
Investment management business: Combine internal and external resources to provide diverse asset allocation plans
The investment management business of the Company consists of asset management, mutual fund management and private equity fund management. During the Reporting Period, the Company's investment management business segment recorded total revenue and other income of RMB1,667 million, representing a year-on-year increase of 15.46%. Net income from the Company's asset management business showed relatively rapid growth in spite of adversity, ranked 5th in the industry, climbing one place from previous year; income structure was further optimised, with revenue from the active management business constituting 86% of total revenue, up 11 percentage points YOY.
The Company carries out the mutual fund management business principally through its controlled subsidiary SWS MU and its invested company Fullgoal Fund. As of the end of the Reporting Period, the scale of assets under its management was RMB76.2 billion, representing an increase of 46% from the end of the previous year. The scale of mutual funds under Fullgoal Fund's management was RMB339.059 billion, representing an increase of over 70% over the end of the last year. The Company maintained excellent overall investment performance in various major categories of products such as active equity, quantitative index and fixed income.
The Company carries out the private equity fund management business principally through Shenwan Hongyuan Industrial Investment, Hongyuan Huifu and Shenyin & Wanguo Investment. Relying on the capital market, the Company vigorously developed the private equity fund business and strengthened cooperation with key provinces and relevant listed groups, large state-owned enterprises, etc., to comprehensively serve the development of the real economy and industrial transformation and upgrades.
Outlook: Implement the "principal investment + investment banking" strategy to ensure the Company's healthy and continuous development
As the multi-layered capital system gradually improves and various measures to open the financial industry are continuously launched, the securities sector faces new development opportunities from increasing industry consolidation. Shenwan Hongyuan will follow the trend and has set a strategic goal to "become a financial service provider which relies on the capital market, focuses on securities businesses, and is featured by "principal investment + investment banking", serving the general public, supporting solid economic development and optimising resources allocation. In respect of the tasks for fully implementing the strategy of "principal investment + investment banking", the Company will expedite its resource layouts, continuously improve its competitiveness and profitability, enhance its team and capability building, and perfect its internal control and risk management system, so as to ensure the Company's continuous, healthy development. Meanwhile, the Company will also actively respond to the negative impact of the novel coronavirus epidemic on its various businesses, adhere to "strong efforts on both aspects" of epidemic prevention and operation, and join hands with the Chinese to win this people's war, general war and blockade against the pandemic in a determined way.
About Shenwan Hongyuan Group Co., Ltd.
Shenwan Hongyuan Group Co., Ltd. is a leading investment holding group focused on securities businesses in China. Shenwan Hongyuan Group is committed to providing diverse financial products and services to clients. In January 2015, Shenwan Hongyuan Group emerged from the merger between Shenyin & Wanguo Securities and Hong Yuan Securities, which was the largest merger in the PRC securities industry at that time according to Dealogic, forming the corporate structure by "an investment parent company, Shenwan Hongyuan Group, and a subsidiary securities firm, Shenwan Hongyuan Securities", and it listed on the Shenzhen Stock Exchange. In April 2019, Shenwan Hongyuan Group issued H shares and was successfully listed on the Hong Kong Stock Exchange.
Copyright 2020 JCN Newswire. All rights reserved. www.jcnnewswire.com Via JCN Newswire https://ift.tt/2pbRN02
During the Reporting Period, the Company achieved total revenue and other income of RMB24.593 billion, up 60.98% YOY; profit before income tax of RMB6.927 billion, increasing 33.54% YOY; profit attributable to the shareholders of the Company for the period of RMB5.735 billion, a YOY increase of 37.86%; basic earnings per share of RMB 0.24, 26.32% higher than in 2018; 7.41% in its weighted average return on net assets ratio, rising by 1.22 percentage points YOY.
Benefiting from a market rebound and accurate strategy transformation, the Company's four major business segments including enterprise finance, personal finance, institutional services and trading, and investment management all recorded steady growth and further increased market shares. Among them, revenue from the Company's enterprise finance segment increased 24.93% YOY to RMB2.293 billion; personal finance grew 11.70% to RMB7.234 billion; institutional services and trading surged by 142.65% to RMB13.399 billion; and investment management rose by 15.46% to RMB1.667 billion.
Enterprise finance business: Seize market opportunities, participate in the STAR Market, and steadily expand the scope of business
In 2019, the Company's investment banking arm fully participated in the construction of the STAR Market, developed a full range of fixed income financing businesses and continued to increased efforts in the development of new projects to increase project reserves. During the Reporting Period, the Company completed 13 equity financing projects (including 3 IPOs and 10 refinancing projects) with a financing amount of RMB13.879 billion. In particular, "Anji Technology", was responsible for sponsoring and undertaking, was one of the first batch of enterprises listed in the STAR Market; six M&A and restructuring transactions were approved by the M&A and restructuring committee of the CSRC, ranking fifth in the industry, up by 13 in ranking as compared with the last year; 79 enterprise and corporate bond projects, and 493 local government bond projects with an underwriting amount of RMB87 billion, the Company was rated as an outstanding lead underwriter of corporate bonds by the Shenzhen Stock Exchange.
Personal finance business: Actively capture market opportunities, introduce the assets of major clients, and promote institutional transformation for clients
In 2019, the overall capital market rebounded and saw vigorous trading. As of the end of the Reporting Period, client securities under the custody of the Company amounted to RMB3.20 trillion, representing a year-on-year increase of 33.67% and a market share of 7.18%, ranking among the top in the industry. At the end of the period, the brokerage business had nearly 7.271 million retail customers, representing an increase of 11.04% as compared with the end of the previous year. The new securities accounts opened by companies reached approximately 710,800, representing an increase of 118.71% over the same period of last year. The monthly active users of Big Winner APP reaching 1,120,000.
The Company's future business line, daily average customer equity and total customer equity peaked at record highs. Shenwan Futures had been awarded the highest Class A Grade AA rating in the classified evaluation of futures companies by the CSRC for six consecutive years, and it had also been granted approximately 40 awards and honours by the financial industry, government authorities, exchanges, mainstream media, etc.; Hongyuan Futures further strengthened its business layout, further developed its new business, and applied for qualifications for fund sales business. Breakthroughs to varying degrees were achieved in terms of basis trading business, market making business, and options business.
During the Reporting Period, by fully leveraging on the position as one of the first batch of qualified brokers for securities refinancing business in the STAR Market, the Company accelerated institutional transformation of clients through capturing market trends and expanding the source of securities, with RMB51.71 billion in ending balance and a market share rate of 5.05% at the end of 2019.
The Company's stock-backed lending business actively responded to change in the market environment, and further strengthened its project risk management. As of the end of the Reporting Period, the Company's stock-backed lending business has had a balance of RMB24.488 billion, decreasing by 43.94% over the end of the previous year. The collateral coverage ratio of stock-backed lending contracts was 243.63% on average.
The sales of financial product business line of the Company devoted great efforts to both the mutual funds and private equity funds. During the Reporting Period, the Company's total sales of its own financial products and third-party products reached RMB63.899 billion and RMB46.594 billion respectively.
Institutional services and trading business: Strengthen research input and the building of sales and service capabilities, as well as continuously enriching product portfolio
During the Reporting Period, the Company's institutional services and trading business recorded total revenue and other income of RMB13,399 million, representing a year-on-year increase of 142.65%. Among them, revenue generated from units leasing amounted to RMB422 million, representing an increase of 3.97% over the end of the previous year,, and the market share of income from units leasing was 4.2034%, maintaining in the top rank in the industry; as for the PB System business, the Company standardised the development of PB trading system to achieve full-market and full-variety coverage. As of the end of 2019, there were 487 PB System customers with a total scale of RMB114.1 billion; the fund operation outsourcing service of the Company had passed the ISAE3402 international certification for two consecutive years; the Company obtained the qualification for custody of securities investment funds.
The Company's research and consultation business line continuously improved in research quality and market influence. In 2019, SWS Research held more than 40 quality conferences and won the first place of "Local Gold Medal Research Team", 23 individual research awards in the" 13th Crystal Ball Awards For Chinese Sell-Side Analysts", the 4th place of the "The Most Influential Research Institutions", and individual awards in 10 research fields in the "17th Best Analyst".
The Company's FICC business line closely followed the development of the market, with the investment return far exceeding the average return of the open bond fund, and profit contribution once again reaching a record high; with its gradually improving business layout, the Company acquired the qualifications for treasury bonds futures market-making business and main market maker for listed funds, as well as qualifications to quote in the "Bond Connect".
The Company continued to promote its equity sales and trading business, resulting in steady increase in its overall profitability. Furthermore, the Company vigorously developed market-making business and obtained a number of important business qualifications including the main market maker of the Shanghai and Shenzhen 300ETF options from the Shanghai Stock Exchange, the main market maker of the Shanghai and Shenzhen 300ETF options from the Shenzhen Stock Exchange, the market maker of stock index options of the Shanghai and Shenzhen 300 index from China Financial Futures Exchange and the market maker of commodity options (PTA, methanol) from Zhengzhou Commodity Exchange. The Company continuously enriched the product lines of its derivatives business and strengthen its customer stickiness. According to the Securities Association of China, during the Reporting Period, the Company's market share of OTC derivatives business stood at 12.3%, ranking among the top five in the industry in respect of cumulative scale.
Investment management business: Combine internal and external resources to provide diverse asset allocation plans
The investment management business of the Company consists of asset management, mutual fund management and private equity fund management. During the Reporting Period, the Company's investment management business segment recorded total revenue and other income of RMB1,667 million, representing a year-on-year increase of 15.46%. Net income from the Company's asset management business showed relatively rapid growth in spite of adversity, ranked 5th in the industry, climbing one place from previous year; income structure was further optimised, with revenue from the active management business constituting 86% of total revenue, up 11 percentage points YOY.
The Company carries out the mutual fund management business principally through its controlled subsidiary SWS MU and its invested company Fullgoal Fund. As of the end of the Reporting Period, the scale of assets under its management was RMB76.2 billion, representing an increase of 46% from the end of the previous year. The scale of mutual funds under Fullgoal Fund's management was RMB339.059 billion, representing an increase of over 70% over the end of the last year. The Company maintained excellent overall investment performance in various major categories of products such as active equity, quantitative index and fixed income.
The Company carries out the private equity fund management business principally through Shenwan Hongyuan Industrial Investment, Hongyuan Huifu and Shenyin & Wanguo Investment. Relying on the capital market, the Company vigorously developed the private equity fund business and strengthened cooperation with key provinces and relevant listed groups, large state-owned enterprises, etc., to comprehensively serve the development of the real economy and industrial transformation and upgrades.
Outlook: Implement the "principal investment + investment banking" strategy to ensure the Company's healthy and continuous development
As the multi-layered capital system gradually improves and various measures to open the financial industry are continuously launched, the securities sector faces new development opportunities from increasing industry consolidation. Shenwan Hongyuan will follow the trend and has set a strategic goal to "become a financial service provider which relies on the capital market, focuses on securities businesses, and is featured by "principal investment + investment banking", serving the general public, supporting solid economic development and optimising resources allocation. In respect of the tasks for fully implementing the strategy of "principal investment + investment banking", the Company will expedite its resource layouts, continuously improve its competitiveness and profitability, enhance its team and capability building, and perfect its internal control and risk management system, so as to ensure the Company's continuous, healthy development. Meanwhile, the Company will also actively respond to the negative impact of the novel coronavirus epidemic on its various businesses, adhere to "strong efforts on both aspects" of epidemic prevention and operation, and join hands with the Chinese to win this people's war, general war and blockade against the pandemic in a determined way.
About Shenwan Hongyuan Group Co., Ltd.
Shenwan Hongyuan Group Co., Ltd. is a leading investment holding group focused on securities businesses in China. Shenwan Hongyuan Group is committed to providing diverse financial products and services to clients. In January 2015, Shenwan Hongyuan Group emerged from the merger between Shenyin & Wanguo Securities and Hong Yuan Securities, which was the largest merger in the PRC securities industry at that time according to Dealogic, forming the corporate structure by "an investment parent company, Shenwan Hongyuan Group, and a subsidiary securities firm, Shenwan Hongyuan Securities", and it listed on the Shenzhen Stock Exchange. In April 2019, Shenwan Hongyuan Group issued H shares and was successfully listed on the Hong Kong Stock Exchange.
Copyright 2020 JCN Newswire. All rights reserved. www.jcnnewswire.com Via JCN Newswire https://ift.tt/2pbRN02
China Southern Selected Growth Balanced Fund Wins Morningstar Balanced Fund Award
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According to Morningstar's evaluation criteria, China Southern Selected Growth Balanced Fund has a five-star rating for the past three and five years of hybrid growth. In accordance with the data of Galaxy Securities Fund Research Center, by the end of 2019, the cumulative net growth rate of the fund since its establishment had reached 205.7%, its net growth rates for the past three and five years were 57.17% and 126.95% respectively; a similar ranking is 9.16% and 3.45% respectively. With a long-term balanced and steady performance, this China Southern Selected Growth Balanced Fund, managed by Luo Shuai, stood out from the 290 selected funds of the same category and won the Morningstar Annual Balanced Fund Award.
China Southern Selected Growth Balanced Fund has also won many honorary awards: in 2018, it was awarded the five-year Open Hybrid Sustainable Winning Golden Bull Fund. In 2018 and 2019, it won the Balanced Star Fund with Five-year Sustainable Return Balance. (Source of Awards: China Securities Journal, Securities Times, March 2018, March 2019) (The past performance of the fund does not predict its future performance, and the performance of other funds managed by the fund manager does not guarantee the performance of the fund.)
Company Overview
On March 6th, 1998, China Southern Asset Management Co., Ltd. (hereinafter referred to as "Southern Asset Management") was officially established as one of the first domestic asset management companies approved and regulated by the China Securities Regulatory Commission (hereinafter referred to as "CSRC"), which symbolizes the start of our nation's "New Golden Era for Funds".
On January 4th, 2018, Southern Asset Management restructured for the Limited. On July 24th, 2019, following approval of the CSRC, Southern Asset Management realized its employee stock ownership plan (ESOP). Through employee shareholding and shareholder capital increase, the registered capital was increased to CNY 361.72 million. Currently, with its headquarters in Shenzhen, Southern Asset Management has 6 branches and 2 subsidiaries.
Southern Asset Management has stood the tests of time throughout periodic shifts between bull and bear market in Chinese capital market. By showing stable and sustainable performances and providing improved and professional services, Southern Asset Management managed to continuously build the trust and recognition of a wide range of investors, including mutual fund investors, the National Council for Social Security Fund, corporate annuity clients and high-net-worth clients.
Southern Asset Management has grown into one of the industry leaders that boasts diverse range of products, comprehensive type of business activities, exceptional investment performance and a large scale of assets under management. As of December 31th, 2019, Southern Asset Management and its subsidiaries have a scale of combined assets under management (AUM) that totaled USD 153.9 billion.
Media Contact: Si Chen
E: chensi@southernfund.com
China Southern Asset Management
URL: https://southernfund.com
Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
source http://www.acnnewswire.com/press-release/english/58027/
Shenwan Hongyuan Announces 2019 Annual Results
HONG KONG, Mar 28, 2020 - (ACN Newswire) - Shenwan Hongyuan Group Co., Ltd. (hereinafter referred to as "Shenwan Hongyuan" or the "Company"; stock code: 6806.HK; 000166.SZ) announced its annual results for the 12 months ended 31 December 2019 (the "Reporting Period").
During the Reporting Period, the Company achieved total revenue and other income of RMB24.593 billion, up 60.98% YOY; profit before income tax of RMB6.927 billion, increasing 33.54% YOY; profit attributable to the shareholders of the Company for the period of RMB5.735 billion, a YOY increase of 37.86%; basic earnings per share of RMB 0.24, 26.32% higher than in 2018; 7.41% in its weighted average return on net assets ratio, rising by 1.22 percentage points YOY.
Benefiting from a market rebound and accurate strategy transformation, the Company's four major business segments including enterprise finance, personal finance, institutional services and trading, and investment management all recorded steady growth and further increased market shares. Among them, revenue from the Company's enterprise finance segment increased 24.93% YOY to RMB2.293 billion; personal finance grew 11.70% to RMB7.234 billion; institutional services and trading surged by 142.65% to RMB13.399 billion; and investment management rose by 15.46% to RMB1.667 billion.
Enterprise finance business: Seize market opportunities, participate in the STAR Market, and steadily expand the scope of business
In 2019, the Company's investment banking arm fully participated in the construction of the STAR Market, developed a full range of fixed income financing businesses and continued to increased efforts in the development of new projects to increase project reserves. During the Reporting Period, the Company completed 13 equity financing projects (including 3 IPOs and 10 refinancing projects) with a financing amount of RMB13.879 billion. In particular, "Anji Technology", was responsible for sponsoring and undertaking, was one of the first batch of enterprises listed in the STAR Market; six M&A and restructuring transactions were approved by the M&A and restructuring committee of the CSRC, ranking fifth in the industry, up by 13 in ranking as compared with the last year; 79 enterprise and corporate bond projects, and 493 local government bond projects with an underwriting amount of RMB87 billion, the Company was rated as an outstanding lead underwriter of corporate bonds by the Shenzhen Stock Exchange.
Personal finance business: Actively capture market opportunities, introduce the assets of major clients, and promote institutional transformation for clients
In 2019, the overall capital market rebounded and saw vigorous trading. As of the end of the Reporting Period, client securities under the custody of the Company amounted to RMB3.20 trillion, representing a year-on-year increase of 33.67% and a market share of 7.18%, ranking among the top in the industry. At the end of the period, the brokerage business had nearly 7.271 million retail customers, representing an increase of 11.04% as compared with the end of the previous year. The new securities accounts opened by companies reached approximately 710,800, representing an increase of 118.71% over the same period of last year. The monthly active users of Big Winner APP reaching 1,120,000.
The Company's future business line, daily average customer equity and total customer equity peaked at record highs. Shenwan Futures had been awarded the highest Class A Grade AA rating in the classified evaluation of futures companies by the CSRC for six consecutive years, and it had also been granted approximately 40 awards and honours by the financial industry, government authorities, exchanges, mainstream media, etc.; Hongyuan Futures further strengthened its business layout, further developed its new business, and applied for qualifications for fund sales business. Breakthroughs to varying degrees were achieved in terms of basis trading business, market making business, and options business.
During the Reporting Period, by fully leveraging on the position as one of the first batch of qualified brokers for securities refinancing business in the STAR Market, the Company accelerated institutional transformation of clients through capturing market trends and expanding the source of securities, with RMB51.71 billion in ending balance and a market share rate of 5.05% at the end of 2019.
The Company's stock-backed lending business actively responded to change in the market environment, and further strengthened its project risk management. As of the end of the Reporting Period, the Company's stock-backed lending business has had a balance of RMB24.488 billion, decreasing by 43.94% over the end of the previous year. The collateral coverage ratio of stock-backed lending contracts was 243.63% on average.
The sales of financial product business line of the Company devoted great efforts to both the mutual funds and private equity funds. During the Reporting Period, the Company's total sales of its own financial products and third-party products reached RMB63.899 billion and RMB46.594 billion respectively.
Institutional services and trading business: Strengthen research input and the building of sales and service capabilities, as well as continuously enriching product portfolio
During the Reporting Period, the Company's institutional services and trading business recorded total revenue and other income of RMB13,399 million, representing a year-on-year increase of 142.65%. Among them, revenue generated from units leasing amounted to RMB422 million, representing an increase of 3.97% over the end of the previous year,, and the market share of income from units leasing was 4.2034%, maintaining in the top rank in the industry; as for the PB System business, the Company standardised the development of PB trading system to achieve full-market and full-variety coverage. As of the end of 2019, there were 487 PB System customers with a total scale of RMB114.1 billion; the fund operation outsourcing service of the Company had passed the ISAE3402 international certification for two consecutive years; the Company obtained the qualification for custody of securities investment funds.
The Company's research and consultation business line continuously improved in research quality and market influence. In 2019, SWS Research held more than 40 quality conferences and won the first place of "Local Gold Medal Research Team", 23 individual research awards in the" 13th Crystal Ball Awards For Chinese Sell-Side Analysts", the 4th place of the "The Most Influential Research Institutions", and individual awards in 10 research fields in the "17th Best Analyst".
The Company's FICC business line closely followed the development of the market, with the investment return far exceeding the average return of the open bond fund, and profit contribution once again reaching a record high; with its gradually improving business layout, the Company acquired the qualifications for treasury bonds futures market-making business and main market maker for listed funds, as well as qualifications to quote in the "Bond Connect".
The Company continued to promote its equity sales and trading business, resulting in steady increase in its overall profitability. Furthermore, the Company vigorously developed market-making business and obtained a number of important business qualifications including the main market maker of the Shanghai and Shenzhen 300ETF options from the Shanghai Stock Exchange, the main market maker of the Shanghai and Shenzhen 300ETF options from the Shenzhen Stock Exchange, the market maker of stock index options of the Shanghai and Shenzhen 300 index from China Financial Futures Exchange and the market maker of commodity options (PTA, methanol) from Zhengzhou Commodity Exchange. The Company continuously enriched the product lines of its derivatives business and strengthen its customer stickiness. According to the Securities Association of China, during the Reporting Period, the Company's market share of OTC derivatives business stood at 12.3%, ranking among the top five in the industry in respect of cumulative scale.
Investment management business: Combine internal and external resources to provide diverse asset allocation plans
The investment management business of the Company consists of asset management, mutual fund management and private equity fund management. During the Reporting Period, the Company's investment management business segment recorded total revenue and other income of RMB1,667 million, representing a year-on-year increase of 15.46%. Net income from the Company's asset management business showed relatively rapid growth in spite of adversity, ranked 5th in the industry, climbing one place from previous year; income structure was further optimised, with revenue from the active management business constituting 86% of total revenue, up 11 percentage points YOY.
The Company carries out the mutual fund management business principally through its controlled subsidiary SWS MU and its invested company Fullgoal Fund. As of the end of the Reporting Period, the scale of assets under its management was RMB76.2 billion, representing an increase of 46% from the end of the previous year. The scale of mutual funds under Fullgoal Fund's management was RMB339.059 billion, representing an increase of over 70% over the end of the last year. The Company maintained excellent overall investment performance in various major categories of products such as active equity, quantitative index and fixed income.
The Company carries out the private equity fund management business principally through Shenwan Hongyuan Industrial Investment, Hongyuan Huifu and Shenyin & Wanguo Investment. Relying on the capital market, the Company vigorously developed the private equity fund business and strengthened cooperation with key provinces and relevant listed groups, large state-owned enterprises, etc., to comprehensively serve the development of the real economy and industrial transformation and upgrades.
Outlook: Implement the "principal investment + investment banking" strategy to ensure the Company's healthy and continuous development
As the multi-layered capital system gradually improves and various measures to open the financial industry are continuously launched, the securities sector faces new development opportunities from increasing industry consolidation. Shenwan Hongyuan will follow the trend and has set a strategic goal to "become a financial service provider which relies on the capital market, focuses on securities businesses, and is featured by "principal investment + investment banking", serving the general public, supporting solid economic development and optimising resources allocation. In respect of the tasks for fully implementing the strategy of "principal investment + investment banking", the Company will expedite its resource layouts, continuously improve its competitiveness and profitability, enhance its team and capability building, and perfect its internal control and risk management system, so as to ensure the Company's continuous, healthy development. Meanwhile, the Company will also actively respond to the negative impact of the novel coronavirus epidemic on its various businesses, adhere to "strong efforts on both aspects" of epidemic prevention and operation, and join hands with the Chinese to win this people's war, general war and blockade against the pandemic in a determined way.
About Shenwan Hongyuan Group Co., Ltd.
Shenwan Hongyuan Group Co., Ltd. is a leading investment holding group focused on securities businesses in China. Shenwan Hongyuan Group is committed to providing diverse financial products and services to clients. In January 2015, Shenwan Hongyuan Group emerged from the merger between Shenyin & Wanguo Securities and Hong Yuan Securities, which was the largest merger in the PRC securities industry at that time according to Dealogic, forming the corporate structure by "an investment parent company, Shenwan Hongyuan Group, and a subsidiary securities firm, Shenwan Hongyuan Securities", and it listed on the Shenzhen Stock Exchange. In April 2019, Shenwan Hongyuan Group issued H shares and was successfully listed on the Hong Kong Stock Exchange.
Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
source http://www.acnnewswire.com/press-release/english/58138/
During the Reporting Period, the Company achieved total revenue and other income of RMB24.593 billion, up 60.98% YOY; profit before income tax of RMB6.927 billion, increasing 33.54% YOY; profit attributable to the shareholders of the Company for the period of RMB5.735 billion, a YOY increase of 37.86%; basic earnings per share of RMB 0.24, 26.32% higher than in 2018; 7.41% in its weighted average return on net assets ratio, rising by 1.22 percentage points YOY.
Benefiting from a market rebound and accurate strategy transformation, the Company's four major business segments including enterprise finance, personal finance, institutional services and trading, and investment management all recorded steady growth and further increased market shares. Among them, revenue from the Company's enterprise finance segment increased 24.93% YOY to RMB2.293 billion; personal finance grew 11.70% to RMB7.234 billion; institutional services and trading surged by 142.65% to RMB13.399 billion; and investment management rose by 15.46% to RMB1.667 billion.
Enterprise finance business: Seize market opportunities, participate in the STAR Market, and steadily expand the scope of business
In 2019, the Company's investment banking arm fully participated in the construction of the STAR Market, developed a full range of fixed income financing businesses and continued to increased efforts in the development of new projects to increase project reserves. During the Reporting Period, the Company completed 13 equity financing projects (including 3 IPOs and 10 refinancing projects) with a financing amount of RMB13.879 billion. In particular, "Anji Technology", was responsible for sponsoring and undertaking, was one of the first batch of enterprises listed in the STAR Market; six M&A and restructuring transactions were approved by the M&A and restructuring committee of the CSRC, ranking fifth in the industry, up by 13 in ranking as compared with the last year; 79 enterprise and corporate bond projects, and 493 local government bond projects with an underwriting amount of RMB87 billion, the Company was rated as an outstanding lead underwriter of corporate bonds by the Shenzhen Stock Exchange.
Personal finance business: Actively capture market opportunities, introduce the assets of major clients, and promote institutional transformation for clients
In 2019, the overall capital market rebounded and saw vigorous trading. As of the end of the Reporting Period, client securities under the custody of the Company amounted to RMB3.20 trillion, representing a year-on-year increase of 33.67% and a market share of 7.18%, ranking among the top in the industry. At the end of the period, the brokerage business had nearly 7.271 million retail customers, representing an increase of 11.04% as compared with the end of the previous year. The new securities accounts opened by companies reached approximately 710,800, representing an increase of 118.71% over the same period of last year. The monthly active users of Big Winner APP reaching 1,120,000.
The Company's future business line, daily average customer equity and total customer equity peaked at record highs. Shenwan Futures had been awarded the highest Class A Grade AA rating in the classified evaluation of futures companies by the CSRC for six consecutive years, and it had also been granted approximately 40 awards and honours by the financial industry, government authorities, exchanges, mainstream media, etc.; Hongyuan Futures further strengthened its business layout, further developed its new business, and applied for qualifications for fund sales business. Breakthroughs to varying degrees were achieved in terms of basis trading business, market making business, and options business.
During the Reporting Period, by fully leveraging on the position as one of the first batch of qualified brokers for securities refinancing business in the STAR Market, the Company accelerated institutional transformation of clients through capturing market trends and expanding the source of securities, with RMB51.71 billion in ending balance and a market share rate of 5.05% at the end of 2019.
The Company's stock-backed lending business actively responded to change in the market environment, and further strengthened its project risk management. As of the end of the Reporting Period, the Company's stock-backed lending business has had a balance of RMB24.488 billion, decreasing by 43.94% over the end of the previous year. The collateral coverage ratio of stock-backed lending contracts was 243.63% on average.
The sales of financial product business line of the Company devoted great efforts to both the mutual funds and private equity funds. During the Reporting Period, the Company's total sales of its own financial products and third-party products reached RMB63.899 billion and RMB46.594 billion respectively.
Institutional services and trading business: Strengthen research input and the building of sales and service capabilities, as well as continuously enriching product portfolio
During the Reporting Period, the Company's institutional services and trading business recorded total revenue and other income of RMB13,399 million, representing a year-on-year increase of 142.65%. Among them, revenue generated from units leasing amounted to RMB422 million, representing an increase of 3.97% over the end of the previous year,, and the market share of income from units leasing was 4.2034%, maintaining in the top rank in the industry; as for the PB System business, the Company standardised the development of PB trading system to achieve full-market and full-variety coverage. As of the end of 2019, there were 487 PB System customers with a total scale of RMB114.1 billion; the fund operation outsourcing service of the Company had passed the ISAE3402 international certification for two consecutive years; the Company obtained the qualification for custody of securities investment funds.
The Company's research and consultation business line continuously improved in research quality and market influence. In 2019, SWS Research held more than 40 quality conferences and won the first place of "Local Gold Medal Research Team", 23 individual research awards in the" 13th Crystal Ball Awards For Chinese Sell-Side Analysts", the 4th place of the "The Most Influential Research Institutions", and individual awards in 10 research fields in the "17th Best Analyst".
The Company's FICC business line closely followed the development of the market, with the investment return far exceeding the average return of the open bond fund, and profit contribution once again reaching a record high; with its gradually improving business layout, the Company acquired the qualifications for treasury bonds futures market-making business and main market maker for listed funds, as well as qualifications to quote in the "Bond Connect".
The Company continued to promote its equity sales and trading business, resulting in steady increase in its overall profitability. Furthermore, the Company vigorously developed market-making business and obtained a number of important business qualifications including the main market maker of the Shanghai and Shenzhen 300ETF options from the Shanghai Stock Exchange, the main market maker of the Shanghai and Shenzhen 300ETF options from the Shenzhen Stock Exchange, the market maker of stock index options of the Shanghai and Shenzhen 300 index from China Financial Futures Exchange and the market maker of commodity options (PTA, methanol) from Zhengzhou Commodity Exchange. The Company continuously enriched the product lines of its derivatives business and strengthen its customer stickiness. According to the Securities Association of China, during the Reporting Period, the Company's market share of OTC derivatives business stood at 12.3%, ranking among the top five in the industry in respect of cumulative scale.
Investment management business: Combine internal and external resources to provide diverse asset allocation plans
The investment management business of the Company consists of asset management, mutual fund management and private equity fund management. During the Reporting Period, the Company's investment management business segment recorded total revenue and other income of RMB1,667 million, representing a year-on-year increase of 15.46%. Net income from the Company's asset management business showed relatively rapid growth in spite of adversity, ranked 5th in the industry, climbing one place from previous year; income structure was further optimised, with revenue from the active management business constituting 86% of total revenue, up 11 percentage points YOY.
The Company carries out the mutual fund management business principally through its controlled subsidiary SWS MU and its invested company Fullgoal Fund. As of the end of the Reporting Period, the scale of assets under its management was RMB76.2 billion, representing an increase of 46% from the end of the previous year. The scale of mutual funds under Fullgoal Fund's management was RMB339.059 billion, representing an increase of over 70% over the end of the last year. The Company maintained excellent overall investment performance in various major categories of products such as active equity, quantitative index and fixed income.
The Company carries out the private equity fund management business principally through Shenwan Hongyuan Industrial Investment, Hongyuan Huifu and Shenyin & Wanguo Investment. Relying on the capital market, the Company vigorously developed the private equity fund business and strengthened cooperation with key provinces and relevant listed groups, large state-owned enterprises, etc., to comprehensively serve the development of the real economy and industrial transformation and upgrades.
Outlook: Implement the "principal investment + investment banking" strategy to ensure the Company's healthy and continuous development
As the multi-layered capital system gradually improves and various measures to open the financial industry are continuously launched, the securities sector faces new development opportunities from increasing industry consolidation. Shenwan Hongyuan will follow the trend and has set a strategic goal to "become a financial service provider which relies on the capital market, focuses on securities businesses, and is featured by "principal investment + investment banking", serving the general public, supporting solid economic development and optimising resources allocation. In respect of the tasks for fully implementing the strategy of "principal investment + investment banking", the Company will expedite its resource layouts, continuously improve its competitiveness and profitability, enhance its team and capability building, and perfect its internal control and risk management system, so as to ensure the Company's continuous, healthy development. Meanwhile, the Company will also actively respond to the negative impact of the novel coronavirus epidemic on its various businesses, adhere to "strong efforts on both aspects" of epidemic prevention and operation, and join hands with the Chinese to win this people's war, general war and blockade against the pandemic in a determined way.
About Shenwan Hongyuan Group Co., Ltd.
Shenwan Hongyuan Group Co., Ltd. is a leading investment holding group focused on securities businesses in China. Shenwan Hongyuan Group is committed to providing diverse financial products and services to clients. In January 2015, Shenwan Hongyuan Group emerged from the merger between Shenyin & Wanguo Securities and Hong Yuan Securities, which was the largest merger in the PRC securities industry at that time according to Dealogic, forming the corporate structure by "an investment parent company, Shenwan Hongyuan Group, and a subsidiary securities firm, Shenwan Hongyuan Securities", and it listed on the Shenzhen Stock Exchange. In April 2019, Shenwan Hongyuan Group issued H shares and was successfully listed on the Hong Kong Stock Exchange.
Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
source http://www.acnnewswire.com/press-release/english/58138/
Greentech Technology Announces 2019 Annual Results
HONG KONG, Mar 28, 2020 - (JCN Newswire) - Greentech Technology International Limited ("Greentech Technology" or the "Company", together with its subsidiaries the "Group"; stock code: 00195) is pleased to announce its audited annual results for the year ended 31 December 2019 ("reporting period").
During the reporting period, Greentech Technology saw a steady development in its tin mining and excavation business. Turnover and loss attributable to shareholders were HK$443,661,000 and HK$61,589,000 respectively. The loss was primarily attributable to an increase in the provision for rehabilitation in the sum of approximately AUD8 million, arising from the proposed closure of Mount Bischoff. Excluding this non-recurring item, gross profit and gross profit margin were HK$5,858,000 and 1.3%, respectively, representing year-on-year decreases of 59.7% and 2.1 percentage points respectively. The Board of Directors did not recommend payment of final dividend for the year ended 31 December 2019.
In 2019, the Group continued exploration work in the Renison underground mine to discover potential tin resources and reserves. Total production volume of tin metal of the Renison underground mine was 7,418 tonnes in 2019 (2018: 6,557 tonnes), representing a remarkable year-on-year increase of approximately 13%. YT Parksong Australia Holding Pty Limited ("YTPAH"), a non wholly-owned subsidiary of the Group which has 50% interest in the Renison underground mine, was entitled to 3,709 tonnes of tin metal (2018: 3,279 tonnes) available for sale. However, since market demand slumped when China-U.S. trade tension intensified, stagnant investment for Chinese electronic products and declined tin metal demand were witnessed, dragging international tin price. The annual average tin cash settlement price decreased by 7.5% year-on-year to USD18,643 per tonne. Turnover increased was due to an increase in production volume which was partly offset by a decrease in tin price during the year.
According to the Group's latest estimates of mineral resources, the contained tin within the Renison underground mine increased by 8% year-on-year to 285,100 tonnes. As at 10 December 2019, the measured, indicated and inferred mineral resources within the Renison underground mine was approximately 18,540,000 tonnes, with the grade of ore reaching 1.54%. Plentiful tin resources and high-grade ore excavated within the Renison underground mine created a solid foundation for the Group to further expand its production.
During the second half of 2019, there were discussions with external consultants and regulatory authorities relating to the closure plans of Mount Bischoff, which was placed into care and maintenance as the reserve had been depleted for a period of time. Currently, a proposed closure plan is expected to be submitted to the relevant regulatory or governmental authorities in Australia for approval in around mid-2020 the earliest.
During the reporting period, Greentech Technology continued to cement its close business partnership with Yunnan Tin Group Company Limited ("Yunnan Tin PRC"). The Group entered into an agreement with Yunnan Tin Australia TDK Resources Pty Ltd., a wholly-owned subsidiary of Yunnan Tin PRC on the renewal of tin supply contract through YTPAH, pursuant to which the Group will continue to provide tin to Yunnan Tin PRC until January 2022. Such arrangement will continuously contribute a stable and promising income to the Group.
Regarding the exploration work in the Renison underground mine in 2019, the Group discovered the Bell 50 region, where ongoing drilling confirmed that the high-grade Area 5 zone continues into the Bell 50 region. Going forward in 2020, the Group will target to excavate high-grade ore from the area and optimise the mining and excavating procdeures, with a view to expanding tin metal production.
Since the beginning of 2020, the coronavirus disease outbreak has posed negative impacts on the global economy, dragging the performance of the tin mining industry. Amidst growing market uncertainty, the Group will pay close attention to the potential impacts of the outbreak and promptly respond to the challenge, meanwhile adopting a prudent yet forward-looking development approach. The Group will refine mine management, optimise production efficiency of the three-stage crushing, screening and ore sorting plant and enhance efficiency, in hopes of consolidating its core competitiveness, thereby creating long-term value to the shareholders and investors.
About Greentech Technology International Limited
Greentech Technology is a non-ferrous resource company engaging in mining and sale of tin. The Group operates tin mining and excavation business in Tasmania, Australia, through joint venture YT Parksong Australia Holding Pty Limited (Greentech Technology and Yunnan Tin PRC hold 82% and 18% interests respectively). The Group and Yunnan Tin PRC jointly hold 50% interests in the Renison mine, the largest tin metal mine in Australia, Mount Bischoff open-cut tin project and Rentails tailings retreatment project, whilst the remaining 50% interests is hold by Metals X, a listed company in Australia. Yunnan Tin Australia TDK Resources Pty Ltd., a wholly-owned subsidiary of long-term partner Yunnan Tin PRC, has been the offtake purchaser of the tin concentrates produced by the Group since 2010.
For more information, please visit: http://www.green-technology.com.hk/c/index.php
Copyright 2020 JCN Newswire. All rights reserved. www.jcnnewswire.com Via JCN Newswire https://ift.tt/2pbRN02
During the reporting period, Greentech Technology saw a steady development in its tin mining and excavation business. Turnover and loss attributable to shareholders were HK$443,661,000 and HK$61,589,000 respectively. The loss was primarily attributable to an increase in the provision for rehabilitation in the sum of approximately AUD8 million, arising from the proposed closure of Mount Bischoff. Excluding this non-recurring item, gross profit and gross profit margin were HK$5,858,000 and 1.3%, respectively, representing year-on-year decreases of 59.7% and 2.1 percentage points respectively. The Board of Directors did not recommend payment of final dividend for the year ended 31 December 2019.
In 2019, the Group continued exploration work in the Renison underground mine to discover potential tin resources and reserves. Total production volume of tin metal of the Renison underground mine was 7,418 tonnes in 2019 (2018: 6,557 tonnes), representing a remarkable year-on-year increase of approximately 13%. YT Parksong Australia Holding Pty Limited ("YTPAH"), a non wholly-owned subsidiary of the Group which has 50% interest in the Renison underground mine, was entitled to 3,709 tonnes of tin metal (2018: 3,279 tonnes) available for sale. However, since market demand slumped when China-U.S. trade tension intensified, stagnant investment for Chinese electronic products and declined tin metal demand were witnessed, dragging international tin price. The annual average tin cash settlement price decreased by 7.5% year-on-year to USD18,643 per tonne. Turnover increased was due to an increase in production volume which was partly offset by a decrease in tin price during the year.
According to the Group's latest estimates of mineral resources, the contained tin within the Renison underground mine increased by 8% year-on-year to 285,100 tonnes. As at 10 December 2019, the measured, indicated and inferred mineral resources within the Renison underground mine was approximately 18,540,000 tonnes, with the grade of ore reaching 1.54%. Plentiful tin resources and high-grade ore excavated within the Renison underground mine created a solid foundation for the Group to further expand its production.
During the second half of 2019, there were discussions with external consultants and regulatory authorities relating to the closure plans of Mount Bischoff, which was placed into care and maintenance as the reserve had been depleted for a period of time. Currently, a proposed closure plan is expected to be submitted to the relevant regulatory or governmental authorities in Australia for approval in around mid-2020 the earliest.
During the reporting period, Greentech Technology continued to cement its close business partnership with Yunnan Tin Group Company Limited ("Yunnan Tin PRC"). The Group entered into an agreement with Yunnan Tin Australia TDK Resources Pty Ltd., a wholly-owned subsidiary of Yunnan Tin PRC on the renewal of tin supply contract through YTPAH, pursuant to which the Group will continue to provide tin to Yunnan Tin PRC until January 2022. Such arrangement will continuously contribute a stable and promising income to the Group.
Regarding the exploration work in the Renison underground mine in 2019, the Group discovered the Bell 50 region, where ongoing drilling confirmed that the high-grade Area 5 zone continues into the Bell 50 region. Going forward in 2020, the Group will target to excavate high-grade ore from the area and optimise the mining and excavating procdeures, with a view to expanding tin metal production.
Since the beginning of 2020, the coronavirus disease outbreak has posed negative impacts on the global economy, dragging the performance of the tin mining industry. Amidst growing market uncertainty, the Group will pay close attention to the potential impacts of the outbreak and promptly respond to the challenge, meanwhile adopting a prudent yet forward-looking development approach. The Group will refine mine management, optimise production efficiency of the three-stage crushing, screening and ore sorting plant and enhance efficiency, in hopes of consolidating its core competitiveness, thereby creating long-term value to the shareholders and investors.
About Greentech Technology International Limited
Greentech Technology is a non-ferrous resource company engaging in mining and sale of tin. The Group operates tin mining and excavation business in Tasmania, Australia, through joint venture YT Parksong Australia Holding Pty Limited (Greentech Technology and Yunnan Tin PRC hold 82% and 18% interests respectively). The Group and Yunnan Tin PRC jointly hold 50% interests in the Renison mine, the largest tin metal mine in Australia, Mount Bischoff open-cut tin project and Rentails tailings retreatment project, whilst the remaining 50% interests is hold by Metals X, a listed company in Australia. Yunnan Tin Australia TDK Resources Pty Ltd., a wholly-owned subsidiary of long-term partner Yunnan Tin PRC, has been the offtake purchaser of the tin concentrates produced by the Group since 2010.
For more information, please visit: http://www.green-technology.com.hk/c/index.php
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