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Xiangyu Dredging Holdings Limited (stock code: 871.HK) was listed on the Main Board of the Hong Kong Stock Exchange on June 20. This listing was undertaken by CCB International which act as the Sole Global Coordinator, Sole Lead Bookrunner and Joint Lead Manager. Xiangyu Dredging is the largest privately owned dredging company in China in 2010 based on dredging volume. The company was principally engaged in providing capital dredging, reclamation dredging, maintenance dredging and environmental protection dredging services.
According to selection results of “The Asset Triple A Country Awards
Recently, CITIC Securities (stock code: 06030.HK) was successfully listed on the Hong Kong Stock Exchange. This listing was undertaken by CCB International which acted as the Joint Sponsor, Joint Bookrunner and Joint Lead Underwriter. CITIC Securities raised over HK$13.2 billion in its H-share IPO, becoming the only large-scale IPO with a fund raising scale of over HK$10 billion since the market downturn in July 2011. Following the successful listing of its H-shares, CITIC Securities has become the first Chinese securities firm dually listed on both A- and H-share markets. During the listing process, CCB International completed various tasks, ranging from pre-IPO marketing to post-IPO sales activities, embracing uncompromising quality, professional attitude and high standards. Since the second half of 2011, the European and U.S. debt crises have been aggravating and the global economic outlook has remained gloomy. The stock market in Hong Kong recorded massive swings with the Hang Seng Index once hitting its lowest close in over two years. Under the extraordinary fluctuations in the capital market, CCB International has leveraged its strong sense of crisis and responsibility to actively adapt to the volatile market environment and accomplish the mission with its client. The project was completed in a delicate and rigorous manner, fully demonstrating the strong project execution and integrated capability of CCB International in the face of complex market conditions.
Recently, Tibet 5100 Water Resources Holdings Ltd.(“5100”, stock code:1115.HK), the leading mineral water producer in the high-end bottled mineral water market in China, has been successfully listed on the Main Board of the Hong Kong Stock Exchange. CCB International was the Joint Sponsor, Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager of the public offering. 5100 is the first Tibetan company listed in Hong Kong, and it is also the first listed high-end mineral water company in China. As one of the national brands with highest development vitality in the high-end mineral water sector in China, 5100 optimizes its economic growth through environmental protection, which in turn strongly boosts the development of “green beverage” industry in Tibet. Leveraging the insights into the scarce resources and the concept of environmental protection, CCB International has built a strategic partnership with 5100, under which CCB International provides one-stop financial services to 5100, including serving as the strategic partner, sponsor and underwriter of 5100’s listing, helping 5100 successfully enter the international capital market. In addition, through the close cooperation with CCB Tibet Branch, CCB International successfully built an all-encompassing service platform providing comprehensive investment and commercial banking services to 5100. The setup of an integrated platform does not only generate different types of benefits to the Company, but also allows CCB International to offer more personalized and comprehensive financial services to 5100. In recent years, CCB International has demonstrated outstanding business performances by well capitalizing the advantages provided by China Construction Bank and itts comprehensive investment banking network to build a full-service investment banking platform. In 2010, it participated in the successful listing of nearly 20 companies on the Main Board of the Hong Kong Stock Exchange. The number of projects that CCB International worked as sponsor and lead manager was the largest among all Chinese investment institutions and it came out on top of its Hong Kong peers. In the first half of 2011, CCB International completed four IPO projects including SBI Holdings, the first Japanese enterprise listed in Hong Kong, and 5100. The bank was top-ranked among all Chinese investment banks based on the number of projects it participated in, which formed a foundation for keeping its market share of the year.
SBI Holdings, Inc. (“SBI”, stock code: 6488.HK), a leading Japanese internet-based financial institution, successfully listed on the Main Board of the Hong Kong Stock Exchange on April14. SBI is the first Japanese corporation listed in Hong Kong, and also the second global corporation issuing Hong Kong Depositary Receipts (HDRs) in Hong Kong following Vale of Brazil. CCB International was the Joint Bookrunner and Joint Lead Manager of the Listing, taking an important step to expand the bank’s overseas investment banking business. Based in Hong Kong and has been backed by the Mainland, CCB International has been developing overseas markets in recent years. It also achieved outstanding results capitalizing on the strengths of CCB Group, as well as the all-rounded investment banking service platform brought by its comprehensive investment banking industry network. In 2010, CCB International took part in listing projects of almost 20 companies on the Main Board of the Hong Kong Stock Exchange, ranking the first place among China’s investment banks based on the number of times being the sponsor and lead manager of listing projects, and securing a leading position among Hong Kong’s industry players. CCB International has been steadily and aggressively promoting its globalization network by taking part in the global offering or placing projects for companies including Banco Santander, Bank of America and BlackRock, while utilizing its investment business advantages, and continuously enhancing its market reputation and excellent Mainland customers’ base. The success in underwriting SBI’s listing project has accumulated extensive experience for the overseas business development of CCB International, further strengthening the foundation for its globalization strategies.
CCB International Securities (CCBIS) released today a report on the investment opportunities brought about by China’s 12th Five-Year Plan (12FYP). CCBIS expects further pro-industry incentives to be announced after the 4th session of the 11th CPPCC National Committee and 4th session of the National People’s Congress (the “Two Congresses”). The Two Congresses have been focused on the 12FYP. CCBIS believes that China’s economic development is undergoing a structural change as it switches from a strategy of “quantity first” to one of “quality first”. Priority is being given to controlling inflation, adjusting the country’s patterns of economic growth, increasing the standard of living of the populace and accelerating the development of the seven emerging strategic industries. Sectors that will noticeably benefit from these changes are agriculture, consumer, building materials and environmental protection/energy conservation. Our presentation is broken down into two sections, “Development of the Chinese economy”and “Investment strategies in Hong Kong and on the mainland”. Both will be presented by Dr. Peter So, Managing Director and Co-Head of Research and Dr. Banny Lam, Associate Director and Economist at CCBIS. During the 12FYP period, from 2011 to 2015, the target for annual GDP growth will be set at 7%, which is lower than the 7.5% that was the target of the 11FYP, reflecting the government’s shift in emphasis from a monetary policy characterized as one of “moderate easing” to one of “prudence”. According to Dr. Lam, “Falling expectations for GDP growth and renewed emphasis on economic restructuring as outlined in the 12FYP may alleviate inflation pressure and improved social harmony, both facilitating healthier and more sustainable development. Towards this end, the government will earmark up to two-thirds of public expenditure towards improving the standard of living of the populace through initiatives like enhancing agricultural productivity to ensure a stable food supply, raising per-capita disposable income, increasing the availability of economic housing and switching to non-fixed asset fiscal investments, including such areas as environmental protection, public healthcare improvements and employment. These new policies represent good investment indicators to investors. Dr So adds, “Taxation reform will cut individual income tax for low-to-middle-income groups, which will, in turn, raise per-capita disposable income, thereby achieving the ultimate objective of alleviating the burden on lower income groups. Personal income growth will be accompanied by increased consumer spending power, which will be good for the consumer sector. Cooling down the housing market will be yet another priority of China’s government in 2011. Economic housing and property taxes are the two key market-managing mechanisms employed by the government to deal directly with the colossal demand for affordable housing in all of China’s cities. Accelerating urbanisation and construction will, in the medium term, benefit construction service and materials, as well as the water conservation industry.” CCBIS notes that central and local governments are planning to invest an average of RMB400 billion annually in water conservation construction over the next 10 years. Agricultural subsidies and minimum grain purchase prices will be raised, meaning companies engaged in farming and irrigation equipment supplies will benefit, and particularly leading companies within the industry. Other priorities of the 12FYP include environmental protection and energy conservation. It follows that during the next five years, the development of traditional industries characterized by high energy consumption and emissions – steel plants and traditional processing industries, for example – will be put under greater government scrutiny, while industries related to environmental protection and energy conservation will enjoy government support. For more information about our research, please visit http://www.ccbintl.com/eng/download.aspx?category_id=6
CCB International Asset Management Limited announces the official public offering on 25 February of its first Renminbi fixed income fund: the “CCB International - RMB Fixed Income Fund” (“the Fund”), marking an important step by CCB International (Holdings) Limited (“CCBI”) in the Renminbi products market. The Fund will be marketed to individual and institutional investors and it will be investing primarily in a diversified portfolio of debt instruments denominated in Renminbi, which are issued or distributed outside mainland China. The Fund will be jointly distributed by China Construction Bank (Asia) Corporation Limited, CCB International Securities Limited, The Bank of East Asia, Limited, Fubon Bank (Hong Kong) Limited and Sun Hung Kai Investment Services Limited. Dr. Hu Zhanghong, CEO of CCBI, says, “We expect more and more investors to participate in the Renminbi investment market with the continued opening up of China’s financial market. CCBI will proactively roll out new products to meet the latest market needs in a timely manner.” Alfred Lo, Deputy Managing Director of CCB International Asset Management Limited says, “Renminbi investment products will be one of CCBI’s main focus in the future, hence we established an umbrella fund - the “CCB International RMB Fund Series” and the “CCB International - RMB Fixed Income Fund” is the first sub-fund. We hope that the sub-funds of “CCB International RMB Fund Series” can participate in investing in the mainland’s investment market via relevant channels and through different asset classes when policies and regulations permit in the future.” As a wholly-owned investment services flagship of China Construction Bank Corporation (“CCB”), CCBI relies on CCB’s 14,000 or so branches across mainland China as well as reliance on CCB’s financial platforms and resources located at major economic and financial centres around the world for all of CCBI’s products and services. CCBI’s familiarity with situations in China and clear understanding of Chinese policies, coupled with CCB’s support network, is advantageous to CCBI in identifying investment opportunities. Fund Details Name of the Fund ：CCB International - RMB Fixed Income Fund Manager ：CCB International Asset Management Limited Base Currency ：Renminbi (denominated and settled in Renminbi) Minimum Investment ：RMB10,000 Minimum Holding ：Units of aggregate minimum value of RMB10,000 Minimum Redemption ：RMB10,000 Initial Offer Period ：25 February 2011 – 25 March 2011 Preliminary Charge ：Up to 5% Annual Management Fee ：0.7% Dividend policy ：Currently on a semi-annual basis, subject to the Manager’s discretion
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