The sustainable development of China and the reform across various sectors has created unprecedented opportunities for Everbright’s unique cross-border macro asset management platform.
2013 was defined by a challenging macroeconomic environment. To take its business forward, the Company thoroughly reviewed the macroeconomic trends, analysed threats and opportunities , and remained relentless in its operations. As a result , the scale and scope of Everbright’s business was expanded, with operational quality and efficiency enhanced.
During the year under review, the Group managed a total of 16 funds. Its assets under management grew 44.4% to HK$34.5 billion whereas the amount of fund raised increased by 44.8% to approximately HK$33.3 billion, generating an 18.0% increase of profit attributable to equity shareholders of the Company to HK$1.35 billion . The Company strengthened its liability management and financial foundation. Its interest-bearing debts gearing ratio rose to 11.5%, with cash on hand of HK$3.76 billion and total equity attributable to shareholders o f HK$28.7 billion.
In the year, the Group’s associated company, Everbright Securities, managed its operational risks and challenges properly and got operations back on track. Everbright Bank was listed on the Hong Kong Stock Exchange and proved its underlying strength with promising results. The Group transferred its equities shareholding of China Everbright Bank in phase, in accordance with the resource allocation strategy of the parent company, China Everbright Group, and reduced its shareholding to 3.51% as of 31 March 2014.
Looking at the global economy, we see continued trends o f recovery and uncertainty. The mainland Chinese economy is likely to be affected by downward pressure and ongoing reforms. In this environment, the Company will continue to identify and capture business opportunities that play to our strengths. We will also seek to achieve steady progress with our diversified asset and wealth management products.
2013 was tough and we expect 2014 would remain challenging. But I would like to take this opportunity to express my sincere gratitude to our management, staff, shareholders, members of the Board, and the communities of Hong Kong for their valuable support. We are unwavering in our commitment to achieve a balance of scale, quality, efficiency and risk that will help enhance the value of the Company, and we look forward to receiving your continued support.
2013 was defined by a challenging macroeconomic environment. To take its business forward, the Company thoroughly reviewed the macroeconomic trends, analysed threats and opportunities , and remained relentless in its operations. As a result , the scale and scope of Everbright’s business was expanded, with operational quality and efficiency enhanced.
