Guangdong Holdings
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| Company type | state-owned enterprise | ||||||
|---|---|---|---|---|---|---|---|
| Founded |
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| Founder | Guangdong Government | ||||||
| Headquarters | Guangzhou, Guangdong , China | ||||||
Area served | Mainland China, Hong Kong | ||||||
Key people | Huang Xiaofeng (Chairman) | ||||||
| Revenue |  CN¥15.656 billion (2016) | ||||||
 CN¥4.275 billion (2016) | |||||||
| CN¥1.352 billion (2016) | |||||||
| Total assets | CN¥85.149 billion (2016) | ||||||
| Total equity | CN¥30.682 billion (2016) | ||||||
| Owner | Guangdong Government (100%) | ||||||
| Parent |
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| Subsidiaries |
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| Website | gdh.com.hk | ||||||
| Footnotes / references in a consolidated financial statement[1] | |||||||
| Guangdong Holdings Limited | |||
|---|---|---|---|
| Simplified Chinese | 广东粤海控股集团 | ||
| Traditional Chinese | 廣東粵海控股集團 | ||
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| Alternative Chinese name | |||
| Simplified Chinese | 粤海控股 | ||
| Traditional Chinese | 粵海控股 | ||
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Guangdong Holdings Limited is a Chinese holding company. Guangdong Holdings is the parent company of Hong Kong incorporated GDH Limited (Chinese: 粤海控股集团), in turn it was the parent company of listed companies Guangdong Investment (SEHK: 270), Guangnan Holdings (SEHK: 1203), Guangdong Tannery (SEHK: 1058) and Guangdong Land Holdings (SEHK: 124). In additional Huajin Technology was traded in Chinese OTC market (NEEQ: 870031). Guangdong Holdings itself was owned by Guangdong Provincial People's Government.
History
[edit]Guangdong Enterprises
[edit]The predecessor of Guangdong Holdings, was a company incorporated on 3 June 1980 as Guangdong Enterprises Limited (Chinese: 粤海企业有限公司), a company incorporated in Hong Kong, as a "window company" of the mainland China (more precisely, the Guangdong Province) to trade with the outside world. In 1985 Guangdong Enterprises was renamed to Guangdong Enterprises (Holdings) Limited (Chinese: 粤海企业(集团)有限公司). In 1988 Guangdong Enterprises acquired a listed company (SEHK: 270) as a special purpose vehicle that Guangdong Enterprises backdoor listing its assets.
Guangdong Holdings
[edit]The group suffered as a result of the 1997 Asian financial crisis; in 1999 a debt restructuring plan was agreed.[2] The group received more assets from Guangdong Government as capital injection, most notably Dongshen Water Supply Project,[3] an infrastructure that supply water from the upper stream of Dong River to Hong Kong via Shenzhen. More specifically, listed subsidiary Guangdong Investment acquired 81% stake of Cayman Islands incorporated "GH Water Supply (Holdings) Limited" in December 1999, the parent company of Dongshen Water Supply Project from Guangdong Government in an all-share deal (increased from 38.90% at 31 December 1999 to 55.49% at 31 December 2000), plus the government paid Guangdong Investment US$20 million.[4][5][6] The agreed maximum volume of water that Hong Kong would buy in 1999 was 770 million cubic metre (actual supplied 738 million m3)[7] In 1999 the agreed price was HK$3.085/m3.[8]
On 10 December 1999 a new holding company for the group's overseas subsidiaries was incorporated in Hong Kong as GDH Limited (Chinese: 广东控股; lit. 'Guangdong Holdings'). The Chinese name of GDH Limited was renamed on 8 July 2006 (Chinese: 粤海控股集团; lit. 'Guangdong Overseas Holding Group').
The ultimate holding company, Guangdong Yue Gang Investment Holdings (Chinese: 广东粤港投资控股; lit. 'Guangdong Guangdong-Hongkong Investment Holdings Co.', 'Ltd.') was incorporated in the mainland China on 31 January 2000. The company was later renamed to Guangdong Holdings Limited (Chinese: 广东粤海控股; lit. 'Guangdong Guangdong Overseas Holding') . In 2015 the Chinese name of the company was added the word "group" (Chinese: 广东粤海控股集团; lit. 'Guangdong Guangdong Overseas Holding Group'), making Guangdong Holdings Limited had almost the same Chinese name with GDH Limited.
Subsidiaries
[edit]- GDH Limited (100%)
- Guangdong Assets Management (100%)
- Guangdong Trust (100%)
- Guangdong Alliance Limited
- Guangdong Investment (54.68%)[9]
See also
[edit]- Guangdong Hengjian Investment Holding
- Guangdong Provincial Railway Construction Investment Group
- Guangdong Rising Asset Management
References
[edit]- ^ "2016 Annual Report". Guangdong Holdings (in Chinese). Shanghai Clearing House. 28 April 2017. Retrieved 1 May 2017.
- ^ "GDE restructuring agreement welcomed". Government of Hong Kong. 16 December 1999. Retrieved 25 February 2017.
- ^ "粤海控股集团有限公司" [GDH Limited] (in Chinese). Liaison Office of the Central People's Government in the Hong Kong S.A.R. Retrieved 25 February 2017.
- ^ "1999 Annual Report" (PDF). Guangdong Investment. 15 June 2000. Retrieved 25 February 2017.
- ^ "2000 Annual Report" (PDF). Guangdong Investment. 27 April 2001. Retrieved 25 February 2017.
- ^ "Joint Announcement & Resumption". Guangdong Investment, Guangdong Brewery Holdings, Guangdong Building Industries, Guangdong Tannery. Hong Kong Stock Exchange. 17 December 1999. Retrieved 25 February 2017.
- ^ "LCQ5 : Negotiation on price and supply quantities of Dongjiang water". Government of Hong Kong. 16 January 2002. Retrieved 25 February 2017.
- ^ "Water purchased from Guangdong Province" (PDF). Audit Commission, Hong Kong. 11 October 1999. Retrieved 25 February 2017.
- ^ "2015 Annual Report" (PDF). Guangdong Investment. Hong Kong Stock Exchange. 27 April 2016. Retrieved 25 February 2017.