...CHINA MINZHONG FOOD CORPORATION LIMITED Goodness Wholesome Everyday 2014 annual report VISION AND VALUES Our vision is to be the preferred producer of top quality fresh and processed vegetables globally. We are committed to adopting international standards of management throughout our business and aim to pursue excellence in everything that we do. CONTENTS 01 02 04 05 06 08 Corporate profile Letter to Shareholders Geographically Diversified Operations Corporate Milestones Board of Directors Key Management 10 12 18 19 20 Financial Highlights Financials and Operations Review Corporate Social Responsibility Corporate Information Financial Contents CHINA MINZHONG FOOD CORPORATION LIMITED 2014 ANNUAL REPORT 1 CORPORATE PROFILE Operating since 1971, China Minzhong Food Corporation Limited (“China Minzhong”) is one of the few companies in the People’s Republic of China (“PRC”) that possesses both processing capabilities as well as its own cultivation bases. Headquartered in Putian City, Fujian Province, PRC, China Minzhong has a diversified and complementary product portfolio and is recognised for its product quality and reliability. China Minzhong’s portfolio comprises three key business divisions, namely the Processed, Cultivation and Branded business segments. Through its decades of experience, China Minzhong has developed an integrated demand-driven operation with wide-ranging cultivation and processing capabilities. China Minzhong manages and plans...
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...Introduction 2 Population 2 Economic Structure and Major Industries 2 Major Firms 4 China’s Stock Market 6 China Securities Regulatory Commission 7 Legal Enforcement of IFRS 8 Summary of contents of financial statements 9 Transition Process of Accounting Standards 10 Auditing Standards 11 Full convergence with International Standards 11 Verification of Capital Contribution 13 Comparison of China’s old GAAP and IFRS 14 Accounting Education in China 15 The Chinese Institute of Certified Public Accountants 15 The CICPA Overview 15 The CICPA Examination 16 Accounting Student 18 China’s Cultural Influences on Accounting 19 Appendix 1. Comparison of CASs and ISAs (As of 2006) 22 Appendix 2. Accounting Firms in China 24 Introduction Population In 2012, China's population amounts to 1.3 billion – an increase of 365 million since 1980. Yet, population is growing at a decelerating pace and should reach its peak in less than two decades. Current methods of population control will be relaxed as the growth of population slows. The fertility rate is presently 1.6 births per female (below replacement level) and is expected to remain at that level in the medium term. The median age is steadily rising and by 2011 it was 35.5years –16.9 years greater than the figure for 1980. In fact, population aging is occurring more quickly in China than in most other countries. The country's working age population will begin to fall by 2017. By 2040, there could...
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...Primark and Ethical Business Introduction Primark the leading clothing retailer Rapid changes in media, transport and communications technology have made the world economy more interconnected now than in any previous period of history. Nowhere is this more evident than in the world of textile manufacture and clothing distribution. Consumers want fashionable clothes at affordable prices. Much of high street fashion is produced in various countries across the world. Businesses source clothes from countries like India, China, Bangladesh and Turkey because of lower material and labour costs in these countries. In order to meet consumer demand, Primark works with manufacturers around the world. Primark is part of Associated British Foods (ABF), a diversified international food, ingredients and retail group. Primark has almost 200 stores across Ireland, the UK, Spain, Netherlands, Germany, Belgium and Portugal. Primark’s annual turnover accounts for a significant proportion of ABF”s revenues and profit. Primark’s target customer is fashion-conscious and wants value for money. Primark can offer value for money by: • Sourcing products efficiently • Making clothes with simpler designs • Using local fabrics and trims • Focusing on the most popular sizes • Buying in volume • Not spending heavily on advertising. The largest Primark store is located on Market Street, Manchester, England. Some 100,000 sq ft (9,300 m2) of retail space is spread across its three floors. It took...
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...Financial Highlights (In millions, except for per share amounts) Year-end 2011 2010 % B/(W) change Company sales Franchise and license fees and income Total revenues Operating Profit Net Income – Yum! Brands, Inc. Diluted Earnings Per Common Share before Special Items Special Items Earnings Per Common Share (a) (a) $ 10,893 1,733 $ 12,626 $ $ $ $ $ 1,815 1,319 2.87 (0.13) 2.74 2,170 $ 9,783 1,560 11 11 11 3 14 14 NM 15 10 $ 11,343 $ $ $ $ $ 1,769 1,158 2.53 (0.15) 2.38 1,968 Reported Diluted Earnings Per Common Share Cash Flows Provided by Operating Activities (a) See page 23 of our 2011 Form 10-K for further discussion of Special Items. Contents Dear Partners..................................................................................... 1 China and A Whole Lot More .......................................................2–5 Improving US Brand Positions .................................................... 6-7 Core Strategies ...................................................................................... 8 Business Model...................................................................................... 9 Taking People With You ..................................................................... 10 ABOUT THE PAPER USED FOR THIS REPORT The inks used in the printing of this report contain an average of 25% - 35% vegetable oils from plant derivatives, a renewable resource. They replace petroleum based inks as an effort to also reduce...
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...(RTOs) Defined & Current situation: “A reverse merger (RTO) is a transaction in which an unlisted private operating company becomes public via a merger with a publicly traded shell company, which is generally a company with no material business operations.” (SEC Approves New Exchange Rules to Toughen Listing Standards for Reverse Merger Companies) Beginning in 2007 and continuing into the present, more than 150 Chinese companies have obtained listings on both U.S. and foreign stock exchanges via reverse mergers (RTOs). 2. The structure of RTO (Coming to America) • Matchmakers in China and the U.S. connect businesses in China with American ailing or shell companies and propose a merger • The under writer hires an auditor to prepare the financial statements required for the merger to be approved by the SEC • Once the merger is approved, the company is renamed. Often the names contain the word "China" or "Sino". • The company builds up credibility and moves up to a well-known exchange such as Nasdaq • The company works with an investment bank to sell shares. Analysts catch on, investors start paying attention, and funds buy the stock, all moving the price. 3. Why a reverse merger rather than an IPO? • Reduced time and costs to secure public listing Take US stock exchange as example: A firm can avoid having to go through the lengthy SEC review process. This can save the firm anywhere from 2-12 months • Less legal groundwork needed, and therefore less legal expense ...
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...University of Jordan Faculty of Business Strategic Management “McDonald's” Case Study STRATEGIC MANAGEMENT Prepared By Fathi Salem Mohammed Abdullah 2009 Table of Contents Topics Introduction History analysis Vision, Mission, Value The Five Forces Framework PESTEL Framework External Audit CPM-Competitive Profile Matrix External Factor Evaluation (EFE) Matrix Financial Ratio Analysis Internal Audit Internal Factor Evaluation (IFE) Matrix SWOT Matrix SPACE Matrix Grand Strategy Matrix The Boston Consulting Group (BCG) Matrix The Internal-External (IE) Matrix The Quantitative Strategic Planning Matrix (QSPM) Recommendations Page 3 3 4 5 6 7 8 9 10 12 13 14 15 16 17 17 18 20 Introduction: 2 McDonald's Corporation is the world's largest chain of fast food restaurants, serving nearly 47 million customers daily through more than 31,000 restaurants in 119 countries worldwide. McDonald’s sells various fast food items and soft drinks including, burgers, chicken, salads, fries, and ice cream. Many McDonald's restaurants have included a playground for children and advertising geared toward children, and some have been redesigned in a more 'natural' style, with a particular emphasis on comfort: introducing lounge areas and fireplaces, and eliminating hard plastic chairs and tables. Each McDonald's restaurant is operated by a franchisee, an affiliate, or the corporation itself. The corporations' revenues come from the rent, royalties and fees paid by the franchisees...
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...Introduction: Financial Statement Analysis is used by interested parties such as inventors, creditors, and management to evaluate the past, current and projected condition and performance of the firm. Its analysis helps user make better desiccations. Ration analysis is the most common form of financial analysis. It provides relative measures of the firm’s conditions and performance. Horizontal analysis and Vertical analysis are also popular forms. Horizontal analysis is used to evaluate the trend in the accounts over the years, while vertical analysis, also called a common size Financial Statement discloses the internal structure of the firm. It indicates the existing relationship between sales and each income statement account. It shows the mix of assets debt that produces income and the mix of the sources of capital, where by current or long-term debt of by equity funding. Financial Statement Analysis prepared for the internal auditors, Many different financial measures are used to analyze financial statements and rank the performance of competing investment opportunities, including growth in sales, return to stockholders, profit margin, and return on equity. These are just four possible measures considered and evaluated by investors and creditors. Financial statements presented in various formats to help facilitate analysis. A classified set of financial statements groups items with similar characteristics together. Groupings include categories such as current assets; property...
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...Case Analysis Levendary Café – The China Challenge Problem Identification Levendary café is the American based multi-unit restaurant which offers quick casual dining to consumers. With the rapid GDP growth and a growing lifestyle trend to eat out in China, Levendary Café decided to expand its operation into Chinese market to implement its concept of “delighting the customers” with a high quality based offerings (Bartlett & Han, 2013, p.4). Due to the lack of experience and knowledge about Chinese market, CEO Leventhal decided to give Chinese market experienced Louis Chen the full control of running the operations in China. However, after one year operation in China, the company’s head-quarter did not satisfy the Chinese performance. Recently, the company’s domestic demand was declining, as well as its stock price. The new CEO Mia Foster was facing a big challenge by Wall Street’s skepticism, since they did not believe Foster’s ability to build a multi-national brand due to her lack of previous international management experience (Bartlett & Han, 2013, p.1). In addition, because of the communication breakdown between Chen, Foster finally decided to investigate Chinese operations which under Chen’s strategy. Thus, the main problem in this case is the conflict between Foster and Chen due to their different views of the market and different management styles. The first issue that Foster facing is the reporting process from China back to America. Levendary Café’s...
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...Section‐B Case Study: A Bill with A Class Act The role of a well‐functioning financial market is to create conditions wherein the savings in the economy can be smoothly channelized into investments. To make this transmission smooth and attractive for all stakeholders, it’s important that everyone plays by the rules. So, the rules have to be well defined and the interests of all stakeholders adequately protected. Stock markets in India are regulated and monitored by the Securities and Exchange Board of India (SEBI). Its mandate is to work for the betterment of the market and protect investors’ interest. SEBI constantly works towards improving the rules and laws governing the stock markets and this year was no different. It made several changes in areas such as compliance by listed companies, improving the quality and presentation of information for investors at the time of public issues, and making the grievance redressal system more investor friendly. However, the most important change of the year was the passage of The Companies Act, 2013, which will bring in significant changes in the way companies function and is likely to better protect the interest of shareholders. Among other things, the new law provides details for the buyout of the minority shareholders and simplifies the rules for mergers. The most notable idea of the Act is the provision for class action suit. Shareholders and depositors in a company can now hold the management accountable in case of wrongdoing...
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...Ajisen (China) Holdings Limited (stock code: 0538) (“Ajisen (China)” or the “Company”; together with its subsidiaries, the “Group”) is one of the leading fast casual restaurant (“FCR”) chain operators in the People’s Republic of China (“PRC”) and Hong Kong Special Administrative Region (“Hong Kong”). Since its establishment in 1996, the Group has been selling Japanese ramen and Japanese-style dishes under the Ajisen brand in the PRC and Hong Kong by incorporating Chinese people’s culinary preferences and the essence of the Chinese cuisine, we have carefully developed over one hundred types of Japanese-style ramen and dishes that cater for the Chinese people’s palate. Combining the elements of fast food shops and traditional restaurant elements, the Group has become fast growing FCR chain operator. Question 1: To whom is this report disseminate and how is this done? Executive Directors Non-executive Directors Independent Non-executive Directors Audit Committee Remuneration Committee Nomination Committee Authorised Representatives Qualified Accountant Company Secretary Principal Bankers Auditor How is this done? 1. Directors will be continuously updated on the statutory and regulatory regime and the business environment to facilitate the discharge of their responsibilities. Briefing and professional development for directors will be arranged where necessary 2. Supply of and Access to Information In order to ensure that the Directors’ duties can be properly...
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...Annual Report 2012 Year ended March 31, 2012 Our founder, Dr. Minoru Shirota, successfully strengthened and cultivated Lactobacillus casei strain Shirota while working in a microbiology laboratory at Kyoto Imperial University School of Medicine (now Kyoto University). In 1935, he began sales of a fermented milk drink under the brand name Yakult. Contents 01 02 04 06 10 14 16 22 24 26 29 30 56 57 The Sources of Yakult’s Strength Yakult Consumption around the World / Financial Highlights Message from the Chairman and President Interview with the Chairman and President Special Feature: Global Yakult, Global Smile Operating Performance Highlights Review of Operations Corporate Social Responsibility (CSR) Research & Development Corporate Governance Board of Directors and Corporate Auditors Financial Section Global Network Corporate Data More than 75 years since then, Yakult has conducted its business activities around the world in ways based on Dr. Shirota’s philosophy—Shirotaism (preventive medicine, the link between a healthy intestinal tract and a long life, and offering products at a price affordable to everyone)—explained on the next page. As of March 31, 2012, as a Probiotics* pioneer, we help to protect people’s health in 32 countries and regions, including Japan. In addition to fermented milk drinks, Yakult operations in Japan today include a pharmaceuticals business, in which we handle an anticancer drug widely used worldwide, as well as a cosmetics business...
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...of San Miguel Corporation, is the largest beer producer in the Philippines, with a market share of over 95% as of 2008.It has five breweries spread across the country producing eight beer brands, led by its flagship brand San Miguel. Locations/Subsidiaries No. 40 San Miguel Avenue, Mandaluyong City, Manila, Philippines Fax: 63 632 6323099 Distileria Bago Inc. 6/F San Miguel Properties Ctr., St. Francis St., St. Francis St, Mandaluyong City, Philippines Ginebra San Miguel, Inc. 3rd & 6th Floors, Sam Miguel Properties, Mandaluyong, Philippines Fax: 63 2 6342211 PT Delta Djakarta Tbk Jl. Inspeksi Tarum Barat, Setiadharma Village, BEKASI, Indonesia Fax: 62 21 8819423 San Miguel (Guangdong) Foods & Beverages Co. Ltd. China San Miguel Brewery Hong Kong Ltd. 9th Floor, Citimark Building,, 28 Yuen Shun Circuit, Shatin , Hong Kong Fax: 852 2 6475170 location...
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...China Labor Watch 147 W 35 TH Phone: 212-244-4049 Fax: 212-244-4146 E-mail: clw@chinalaborwatch.org ST STE 406 New York, NY 10001 Code of Conduct is No More than False Advertising, Disney Suppliers Continue Exploiting Chinese Workers By China Labor Watch November 10, 2010 While every effort will be made to keep the materials accurate and up-to-date, China Labor Watch is not personally responsible for accuracy and currency. This report contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this report. SOME RIGHTS RESERVED. 2010 Content Summary.......................................................................................................................................................................3 Yiuwah Accident .........................................................................................................................................................3 Disney Consumer Products .........................................................................................................................................4 “Cut and Run” ..............................................................................................................................................................5 Establishment of “Code of Conduct” .........................................................................................................................6 Production...
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...Vijay Reddy Husson University BA 620 – Project 3 –Company Analysis 2/23/15 Spring 2015 Professor Shayne Question 1 Response All required documents are attached Question 2 Response WMT business strategy, goals & objectives: According to page 5 of the 2014 Annual Report, Wal-Mart’s goals and objectives include: “positioning to serve customers, expand opportunities for store associates; drive operational excellence by driving productivity loop to leverage operating expenses; earning trust in communities; ensuring solid performance in challenging environment of retail industry; and embracing the challenge to change in order to make customers save money and live better. Finding the best team in retail is Wal-Mart’s core strategy” (Wal-Mart, 2014). Business challenges/risks facing WMT: According to page 17, Item 1A of the 2014 Form 10-K Wal-Mart faces various risks that may adversely affect business operations: “1) General domestic/international macro-economic factors such as high gas and energy prices; 2) Unable to respond to consumer demands or consumer preference trends in a timely fashion (ex. online shopping); 3) Impediments in expanding in the US such as constructing Supercenters; 4) Impediments to expanding Wal-Mart international operations; 5) Failure to attract and retain qualified associates, changes in laws and other labor issues; 6) Strong competition...
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...contents Corporate Information 2 Corporate Structure 3 Financial Highlights 4 Directors’ Profile 5 Significant Events 8 Corporate Social Responsibility 12 Chairman’s Statement 16 Corporate Governance Statement 19 Audit Committee Report 33 Statement on Risk Management and Internal Control 37 Financial Statements 40 List of Properties 106 Analysis of Shareholdings 107 Notice of Eighth Annual General Meeting 110 Statement Accompanying the Notice of the Eighth Annual General Meeting 114 Proxy Form 2 POWER ROOT BERHAD (Company No.: 733268-U) Corporate Information SHARE REGISTRAR BOARD OF DIRECTORS Y.M. Tengku Shamsulbhari bin Tengku Azman Shah, Independent Non-Executive Chairman SMK. Dato’ Low Chee Yen Managing Director Dato’ How Say Swee Executive Director Dato’ Wong Fuei Boon Executive Director REGISTERED OFFICE See Thuan Po Executive Director 31-04 Level 31, Menara Landmark No. 12 Jalan Ngee Heng 80000 Johor Bahru, Johor Tel : 07 – 278 1338 Fax : 07 – 223 9330 Ong Kheng Swee Independent Non-Executive Director Datuk Faizoull bin Ahmad Non-Independent Non-Executive Director (Appointed on 30 September 2013; Resigned on 27 March 2014) Dato’ Tea Choo Keng (Alternate Director to Y.M. Tengku Shamsulbhari bin Tengku Azman Shah, Datuk Sarchu bin Sawal Non-Independent Non-Executive Director (Resigned on 30 September...
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