China Aerospace International Holdings

Last updated

China Aerospace International Holdings
CASIL
FormerlyConic Investment Co., Ltd.
Typepublic company
SEHK:  31
Industry
  • conglomerate
  • electronic
  • real estate development
PredecessorChee Yuen Industrial
Founded25 July 1975;48 years ago (1975-07-25)
FounderAlex Au
Headquarters Hung Hom,
Kowloon
,
Hong Kong
Key people
Gong Bo(non-executive chairman)
Li Hongjun(president & director)
Jin Xuesheng(vice-president & director)
Products
  • electronic goods
  • CRT television (discontinued)
BrandsContec (discontinued)
RevenueIncrease2.svg HK$ 03.088  billion  (2016)
Decrease2.svg HK$00796 million (2016)
Total assets Increase2.svg HK$12.785 billion (2016)
Total equity Increase2.svg HK$06.190 billion (2016)
Parent China Aerospace Science and Technology Corporation
Chinese name
Traditional Chinese 中國航天國際控股有限公司
Simplified Chinese 中国航天国际控股有限公司
Literal meaningChina Aerospace International Holdings Limited Company

Joint ventures

former

Shareholders

As of 31 December 2016 [1] :43

RankNameChinese namePercentageFootnotes
1 China Aerospace Science and Technology Corporation 中国航天科技集团公司38.37%

See also

Further reading

Footnotes

  1. Known as Sun Hing Commercial and Industrial Building (Chinese :新興工商業大廈) at that time. [7] Not to be confused with the namesake in Tuen Mun.
  2. According to a book, quoting Gerald "Jerry" Garies' narrative, a former manager of the group, the capital increase was a consequence of a financial loss that was reported to the annual board meeting, [16] however, it was contradicted by the narrative of the listed company which presented to the public and the press in the 1983 annual general meeting that the net profit of 1982 financial year was HK$32.6 million, excluding extraordinary items. [7] [21] [22] Nevertheless, an accounting scandal was later discovered by the auditor, regarding 1983 Interim Report [19] which was followed up by the police; under the new board of directors, the annual general meeting approved the 1983 Annual Report on 31 August 1984, which the net loss (excluding extraordinary item) of that year was HK$262.7 million, mainly due to a HK$217 million provision on a bad loan that was lent from Conic to Alex Au controlled Honic and its subsidiaries. [19]
  3. Despite it was reported that Bank of China Group owned 50% joint venture via its member bank and insurance company, [23] according to "1984 Annual Return" of Sin King Enterprises to Hong Kong Companies Registry, the company was owned by Commotra and Feng Ming Investment (Chinese :豐民投資) in a 50–50 ratio. [4] The former was owned by China Resources [27] and the latter, a company with a licence as a money lender, [28] was owned by various shareholders (13 individuals and 3 companies), according to their filings "Return of Allotments on 14 November 1983" and "1986 Annual Return" to the registry. [4] Those individuals were the managers of the member banks of the Bank of China Group. The largest shareholder of Feng Ming Investment was Mellow Trading Limited for 25% shares. [4] Both Feng Ming and Mellow were headquartered in Bank of China Building, while Sin King was headquartered in China Resources Building. At some time later, Feng Ming Investment formally became a wholly owned direct subsidiary of Bank of China Group Investment Limited, [29] :1–1–38 in turn, Bank of China Group Investment Limited was another indirect wholly owned subsidiary of Bank of China; [29] Bank of China Group Investment Limited was incorporated on 11 December 1984 as China Development Investment (Hong Kong) (renamed in 1993). [4] [29] :1–1–32

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