Business Strategies a. Evaluate business strategies and recommend changes where appropriate.
Business Strategies. The Group strives to become a financial services institution with a comprehensive product and service portfolio that serves its clients globally and meets their various needs for securities and financial services. The Group’s specific strategies include the following: . continue to strengthen the Group’s principal business lines and attract talented professionals; . further develop the Group’s ‘‘capital-based’’ businesses and M&A financial advisory business to increase synergies and cross-selling capabilities among the Group’s business lines; . enhance the Group’s business platform and expand its business; and . enhance the Group’s risk management system, internal control and IT capabilities. The summary consolidated financial information of the Group as of and for the years ended 31 December 2018, 2019 and 2020 are extracted from the Audited Financial Statements. The Audited Financial Statements were audited by PricewaterhouseCoopers, Certified Public Accountants, Hong Kong (‘‘PwC’’), the Guarantor’s independent auditor, which are included elsewhere in this Offering Circular. The Audited Financial Statements have been prepared and presented in accordance with HKFRS. The Group has adopted HKFRS 16 from 1 January 2019, but has not restated comparatives for the year ended 31 December 2018, as permitted under the specific transitional provisions in HKFRS 16. The reclassifications and the adjustments arising from the new leasing rules are therefore recognised in the opening consolidated statement of financial position on 1 January 2019. The impact of the adoption of HKFRS 16 are disclosed in Note 3 to the 2019 Audited Financial Statements. Therefore, the consolidated financial information of the Guarantor as of and for the year ended 31 December 2018 may not be directly comparable to the consolidated financial information of the Guarantor after 1 January 2019. As disclosed in Note 5 to the 2020 Audited Financial Statements, during the years ended 31 December 2019 and 2020, the Group has considered the disclosures of interest income and proprietary trading income with reference to the Group’s business and the accounting standard requirements. Accordingly, the 2019 comparative figures have been re-presented. There was no impact on total revenue and the profit before taxation for the corresponding year. The corresponding financial information for the year ended 31 December 2018 has not been re-presented and therefore, it may not be directly comparable to the cons...
Business Strategies. The Group strives to become a financial services institution with a comprehensive product and service portfolio that serves its clients globally and meets their various needs for securities and financial services. The Group’s specific strategies include the following: Continue to strengthen the Group’s principal business lines and attract talented professionals The Group intends to build on its established brand name, reputation and competitive strengths and continue to enhance its securities brokerage and margin financing, corporate finance and underwriting, and asset management and advisory businesses, through the following measures: . Securities brokerage and margin financing: The Group plans to attract a wider group of high quality customers and offers more diverse products, such as global stocks, to meet increasingly stronger and diverse customer demand for global asset allocation and management. The Group also intends to upgrade its IT systems to improve customer experience. . Corporate finance and underwriting: The Group focuses on enhancing its corporate finance capabilities and intends to attract more professionals to expand its sector teams and general financial advisory services. The Group places high importance in enhancing its underwriting (equity and debt) and placing capabilities, including customer development and pricing, to increase the revenue and profit contributions of its corporate finance and underwriting business.
Business Strategies a. Evaluate business strategies, assist the Company in its operational and product development activities and recommend changes where appropriate.
Business Strategies. This Collective Bargaining Agreement supports the Port’s strategy of “High Performance Organization.” SCOPE OF THE AGREEMENT Term of the Agreement: January 1, 2009 through December 31, 2011. BENEFITS Wage Adjustments: • Effective January 1, 2009: 6.0% Cost of Living Adjustment. • Effective January 1, 2010: 5.5% Cost of Living Adjustment. • Effective January 1, 2011: 6.0% Cost of Living Adjustment. • 2.0% increase to existing 48-month in-grade Sergeant step. Premium/Specialty Pay Adjustments: • Changes to the following specialty/assignment premiums: o Limit specialty/assignment premiums to the two (2) highest, excluding patrol shift differential.
Business Strategies. The Issuer plans to pursue the following strategies to maintain its leading position in the auto financing industry in China and drive future business growth: • Expand Sales Network and Strengthen Cooperation with Auto Dealers; • Accelerate Digitalisation and Explore Online Direct Sales; and • Expand Used Automobile Financing Operation to Drive Future Growth. RECENT DEVELOPMENT Issuances of Asset-Backed Securities On 6 January 2022, the Issuer completed the issuance of the “Rongteng 2022 Series I Retail Auto Loan Asset-Backed Securities” (the “Rongteng 2022-1 ABS”) in an aggregate principal amount of RMB10 billion in the PRC national interbank market. The Rongteng 2022-1 ABS consists of four tranches: the prioritised A1 tranche was issued in an aggregate principal amount of RMB4 billion with an interest rate of 2.65 per cent.; the prioritised A2 tranche was issued in an aggregate principal amount of RMB4.7 billion with an interest rate of 2.75 per cent; the prioritised B tranche was issued in an aggregate principal amount of RMB730 million with an interest rate of 3.50 per cent; the subordinated tranche, which is held by the Issuer, was issued in an aggregate principal amount of RMB570 million. See “Description of Material Indebtedness and Other Obligations — Asset-backed Securities — Rongteng 2022-1 ABS” for more details. On 24 January 2022, the Issuer completed the issuance of the “Rongteng Tongyuan 2022 Series I Retail Auto Mortgage Loan Green Asset-Backed Securities” (the “Rongteng Tongyuan 2022-1 ABS”) in an aggregate principal amount of RMB1 billion in the bond market of China (Shanghai) Pilot Free Trade Zone. The Rongteng Tongyuan 2022-1 ABS consists of three tranches: the prioritised A1 tranche was issued in an aggregate principal amount of RMB400 million with an interest rate of 2.68 per cent.; the prioritised A2 tranche was issued in an aggregate principal amount of RMB490 million with an interest rate of 2.90 per cent; the subordinated tranche, which is held by the Issuer, was issued in an aggregate principal amount of RMB110 million. See “Description of Material Indebtedness and Other Obligations — Asset-backed Securities — Xxxxxxxx Xxxxxxxx 2022-1 ABS” for more details. THE OFFERING The following summary contains some basic information about the Notes and is qualified in its entirety by the remainder of this Offering Circular. Some of the terms described below are subject to important limitations and exceptions. Words and expressions defined i...
Business Strategies. Adhering to its corporate values of openness, progress, professionalism and performance, the Issuer strives to provide services to customers with integrity and professionalism, cater to the needs of customers through a customer-oriented approach, and offer diversified products with a focus on innovation and progress. With a view to deepening its offline market, accelerating online development, and expanding into the used car market, the Issuer plans to pursue the following strategies to maintain its leading position in the auto financing industry in China and drive future business growth:
Business Strategies. This Collective Bargaining Agreement supports the Port’s strategy of “High Performance Organization.” SCOPE OF THE AGREEMENT Term of the Agreement: July 1, 2008 through June 30, 2012. BENEFITS
Business Strategies. The Issuer intends to implement the following business strategies to achieve its goal of becoming one of the leading integrated financial institutions in Hong Kong: Strengthen its “investment” + “corporate finance” business portfolio and capture cross-selling opportunities The Issuer believes the Group’s strong investment banking business in China is a significant asset for the Issuer to further develop its own corporate finance business in Hong Kong. By keeping a foothold in the PRC and eyeing the global market, the Issuer goal is to develop into a boutique global financial institution featuring “investment” + “corporate finance”. The Issuer will implement a service philosophy that gives priority to pursuing long-term goals and customer interests and a commitment to brand building. In particular, the Issuer aims to attract capital into its asset management products, increasing the scale of the assets under its management. As the Issuer builds up its capital-based business, it will switch its focus away from the high risk project financing business. Further, an expansion of the Issuer’s asset management business provides valuable cross-selling opportunities with its corporate finance business for mutual growth, satisfying its asset management clients’ needs for quality products to invest and its corporate finance clients’ needs for financing. Further leverage the Group’s strength and experience in the PRC brokerage industry and explore new business opportunities and clienteles With its own strong expertise and experience in corporate finance transactions, the Issuer intends to fully leverage the Group’s strong market position and broad corporate clientele in China, and capture opportunities to connect PRC firms, especially those based in the Southwest China region, with the international capital markets and investors. In particular, the Issuer plans to focus on winning mandates to assist firms based in the Southwest China region to list on the Hong Kong Stock Exchange and conduct other types of corporate transactions, which the Issuer believes will generate revenue and growth opportunities for the Issuer’s corporate finance business while at the same time bring capital to companies based in the Southwest China region and stimulate the region’s economic growth. The Issuer will also target Hong Kong clients by enhancing market awareness of its product and service offerings under the “Southwest Securities” brand and of the Group’s strength and support in the ...
Business Strategies. This Collective Bargaining Agreement supports the Port’s strategy of “High Performance Organization.” SCOPE OF THE AGREEMENT Term of the Agreement: January 1, 2009 through December 31, 2011. BENEFITS Wage Adjustments: • Effective January 1, 2009: 6.0% Cost of Living Adjustment, plus an additional 1.0% market equity increase to top-step Officer. • Effective January 1, 2010: 5.0% Cost of Living Adjustment, plus an additional 1.0% market equity increase to top-step Officer. • Effective January 1, 2011: 5.0% Cost of Living Adjustment, plus an additional 1.0% market equity increase to top-step Officer.
