IMPORTANT
If you are in any doubt about this prospectus, you should consult your stockbroker,
bank manager, solicitor, professional accountant or other professional adviser.
Xxx银行(控股)有限公司
XXX (HOLDINGS) LIMITED
(Incorporated in Hong Kong with limited liability under the Companies Ordinance)
GLOBAL OFFERING
Number of Offer Shares in the Global Offering: 2,298,435,000 (subject to adjustment and the
Over-allotment Option)
Number of Hong Kong Offer Shares: 229,843,500 (subject to adjustment)
Maximum Offer Price: HK$9.50 per Offer Share payable in full on application in Hong Kong dollars, subject to refund
Nominal Value: HK$5.00 per Share
Stock Code: xxx
Joint Global Coordinators and Joint Bookrunners
BOC International Holdings Limited
Goldman Sachs (Asia) L.L.C.
UBS Warburg
Joint Sponsors
BOCI Asia Limited
Goldman Sachs (Asia) L.L.C.
UBS Warburg Asia Limited
The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this prospectus, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this prospectus.
A copy of this prospectus, together with the documents specified in the section headed "Documents Delivered to the Registrar of Companies’’ in Appendix VIII, has been registered by the Registrar of Companies in Hong Kong as required by Section 38D of the Companies Ordinance, Chapter 32 of the Laws of Hong Kong. The Securities and Futures Commission and the Registrar of Companies in Hong Kong take no responsibility as to the contents of this prospectus or any other document referred to above.
The Offer Price is expected to be fixed by agreement among the Joint Global Coordinators (on behalf of the Hong Kong Underwriters and the International Purchasers), XXX and the Selling Shareholder, after consultation with the Company, on the Price Determination Date. The Price Determination Date is expected to be on or before July 20, 2002.
The Offer Price will be not more than HK$9.50 per Offer Share and is currently expected to be not less than HK$6.93 per Offer Share. The Joint Global Coordinators (on behalf of the Hong Kong Underwriters and the International Purchasers) may, with the consent of XXX, the Selling Shareholder and the Company, reduce the number of Offer Shares and/or the indicative Offer Price range below that stated in this prospectus (which is HK$6.93 to HK$9.50 per Offer Share) at any time prior to the morning of the last day for lodging applications in the Hong Kong Public Offering. In such a case, a notice of the reduction in the number of Offer Shares and/or the indicative Offer Price range will be published in the South China Morning Post, the Hong Kong Economic Times and the Hong Kong Economic Journal not later than the morning of the last day for lodging applications in the Hong Kong Public Offering. Applicants in the Hong Kong Public Offering should note that in no circumstances can applications be withdrawn once submitted, even if the number of Offer Shares and/or the Offer Price range is subsequently so reduced. Investors applying for Hong Kong Offer Shares must pay the maximum price of HK$9.50 per Hong Kong Offer Share, together with brokerage of 1%, the Securities and Futures Commission transaction levy of 0.007% and the Stock Exchange trading fee of 0.005%, subject to refund if the final Offer Price determined as described above should be lower than the maximum Offer Price.
If, for any reason, the Offer Price is not agreed among the Joint Global Coordinators (on behalf of the Hong Kong Underwriters and the International Purchasers), XXX and the Selling Shareholder, after consultation with the Company, on or before July 20, 2002, the Global Offering will not proceed.
July 15, 2002
XXX
Xxx
CONTENTS
You should rely only on the information contained in this prospectus and the Application Forms to make your investment decision. No person has been authorized to provide you with information that is different from what is contained in this prospectus.
Any information or representation not made in this prospectus must not be relied on by you as having been authorized by us, XXX, the Selling Shareholder, the Joint Global Coordinators, the Joint Sponsors, the Hong Kong Underwriters, the International Purchasers, any of our/their respective directors or any other person involved in the Global Offering.
Expected Timetable .............................. i
Summary ................................... 1
Definitions .................................. 14
Risk Factors ................................. 25
Information About this Prospectus and the Global Offering ........... 36
Parties Involved in the Global Offering..................... 42
Corporate Information ............................. 47
The Restructuring and Merger ......................... 48
Industry Background ............................. 58
Supervision and Regulation .......................... 67
Business ................................... 79
Overview .................................. 79
Our Strengths ................................ 80
Our Strategy ................................ 81
Our Principal Business Activities ....................... 84
Distribution Network ............................. 104
Business of Nanyang and Chiyu ....................... 106
Risk Management .............................. 107
Back Office Processing ........................... 122
Technology ................................. 124
Competition ................................. 125
Properties ................................. 126
Legal and Regulatory Proceedings ...................... 129
Strategic Investor.............................. 131
Description of Our Assets and Liabilities .................... 132
Assets................................... 132
Liabilities and Sources of Funds ....................... 160
Bank of China and Its Relationship with Us ................... 165
Bank of China and Its Relationship with Us .................. 165
Incidents Attracting Adverse Publicity to XXX ................. 167
Connected Transactions ........................... 169
Directors, Senior Management and Sta .................... 192
Substantial Shareholders ........................... 204
Share Capital ................................. 205
Financial Information ............................. 206
Overview .................................. 210
Results of Operations............................ 216
Financial Position .............................. 231
Indebtedness................................ 240
Practice Note 19 of the Listing Rules..................... 240
Profit Forecast ............................... 241
Dividend Policy ............................... 241
Distributable Reserves ............................ 242
Adjusted Net Tangible Assets......................... 242
No Material Adverse Change ......................... 242
Waiver................................... 243
Future Plans and Proceeds of the Global Offering................ 244
Underwriting ................................. 245
Structure of the Global Offering ........................ 250
Retail Discount................................ 258
How to Apply for Hong Kong Offer Shares ................... 260
Terms and Conditions of the Hong Kong Public Offering ............. 267
Prospectus, Application Forms and Results of Allocations ............ 279
Appendices
Appendix I. Accountants’ Report ..................... I-1
Appendix II. Unaudited Supplementary Financial Information ......... II-1
Appendix III. Profit Forecast ........................ III-1
Appendix IV. Property Valuation...................... IV-1
Appendix V. Summary of the Articles of Association ............ V-1
Appendix VI. Statutory and General Information ............... VI-1
Appendix VII. Subsidiaries of the Company ................. VII-1
Appendix VIII. Documents Delivered and Available for Inspection ....... VIII-1
SUMMARY
This summary aims to give you an overview of the information contained in this prospectus. As this is a summary, it does not contain all the information that may be important to you. You should read the whole document before you decide to invest in the Offer Shares.
We were incorporated on September 12, 2001. Our current corporate and operating structure was established as a result of a comprehensive restructuring of the commercial banking operations of the XXX HK Group, which became effective on October 1, 2001. Our consolidated financial statements included elsewhere in this prospectus have been prepared as if our current group structure and operations had been in existence throughout the three years ended December 31, 2001. Our operating and financial information presented in this prospectus in respect of any time prior to October 1, 2001 reflect the commercial banking operations of the XXX HK Group.
OVERVIEW
We are a leading commercial banking group in Hong Kong. Through 343 branches, 434 ATMs and other delivery channels in Hong Kong, we offer a comprehensive range of financial products and services to retail and corporate customers. XXXHK, our principal operating subsidiary, is one of the three bank note issuing banks in Hong Kong. In addition, we have 14 branches in Mainland China to meet the cross-border banking needs of our Hong Kong and Mainland China customers. We are the second largest commercial banking group in Hong Kong in terms of assets and customer deposits. At December 31, 2001, we were one of the two largest lenders in Hong Kong. For the year ended December 31, 2001, our operating profit before provisions and profit attributable to shareholders were HK$13,162 million and HK$2,768 million, respectively. At December 31, 2001, we had total assets of HK$766,140 million and shareholders’ funds of HK$52,170 million.
We have three principal lines of business:
Retail banking. We are a leader in the retail banking sector in Hong Kong. At December 31, 2001, we were the third largest home mortgage lender with a 16% market share in terms of outstanding loans and one of the largest credit card issuers in Hong Kong. We provide our retail customers with a comprehensive range of retail banking products and services, including deposits, home mortgage loans, home ownership scheme loans, remittances, credit cards, investment product services such as securities, investment funds, insurance, foreign exchange, bullion trading and personal wealth management services. We also offer a series of other retail products and services to meet the diverse needs of our customers, including auto pay, safe deposit boxes, direct debit services, trustee services and money exchange;
Corporate banking. We are a leader in the corporate banking sector in Hong Kong. At December 31, 2001, we were one of the two largest corporate lenders in Hong Kong, with a 15.6% market share in terms of outstanding loans. We provide our corporate and institutional customers with a variety of banking products and services, including deposit products, loan products such as working capital finance, syndicated loans, project finance and asset finance, and non-interest income-based products and services such as syndicated loan arrangements, credit facility arrangements, trade finance arrangements, cash management products and services, MPF services and insurance agency services. We also offer other non-interest income-based services to our corporate customers, including remittance services and securities trading services; and
Treasury. We are one of the leading participants in the inter-bank money market in Hong Kong. We also provide traditional treasury services to retail customers, including foreign exchange and bullion trading, and were voted by Global Finance magazine as one of the best foreign exchange banks in 2001. Through our treasury operations, we participate in inter-bank money market transactions and provide order execution services to our customers with respect to their foreign exchange and derivative transactions. We also participate in capital markets transactions to effect our securities investments and, to a limited extent, engage in proprietary trading, primarily of foreign exchange and debt securities. In addition, we also provide other treasury services to our customers, including real time price and customer order execution services, currency option-linked deposit pricing and execution services and bullion trading.
Through our relationship with XXX, we believe we are uniquely positioned to expand and capture Mainland China related banking business by leveraging products of XXX’s nonbanking subsidiaries and associates in Hong Kong, including BOCI Securities and BOC Insurance, and XXX’s extensive branch network and customer base in Mainland China and globally.
THE RESTRUCTURING AND MERGER
We were incorporated on September 12, 2001 to hold the entire equity interest in XXXHK, our principal operating subsidiary. On October 1, 2001, substantially all of the commercial banking businesses and related assets and liabilities of nine entities previously within the commercial banking operations of the XXX HK Group were transferred to Po Sang, whose name was changed to Bank of China (Hong Kong) Limited on the same date. These included the Hong Kong branch of XXX, the Hong Kong and Mainland China branches of the PRC organized banks and one Hong Kong incorporated subsidiary bank of XXX. On the same date, two additional Hong Kong incorporated subsidiary banks and a credit card subsidiary company of XXX became subsidiaries of XXXHK. To realize the full benefits of the merger, we have also undertaken a restructuring to integrate these merged operations and to enhance them in line with leading market practices.
The Restructuring and Merger was undertaken to enhance shareholder value and to achieve the following special objectives:
unify our brand identity;
centralize our management;
institute corporate governance in line with leading market practices;
implement a customer-focused and sales-driven operating structure;
reduce costs and improve efficiency through centralization of functions, elimination of duplication and economies of scale;
adopt more centralized, independent and comprehensive risk management systems and practices in line with international standards;
establish a technological and organizational infrastructure to enable us to achieve our objectives; and
streamline and rationalize our workforce, and motivate them to achieve higher standards of performance.
Rights, interests, benefits and liabilities under certain agreements, whose transfer is governed by laws other than Hong Kong law, were not transferred by the Merger Ordinance and required further steps to be taken in order to transfer them to XXXHK. With respect to a small number of these transactions, where the transfer is yet to be fully completed, the Restructuring and Merger may have constituted an event of default under the governing transaction documents, as a result of which the agreements may be terminated at the discretion of the counterparty and XXXHK would not receive the benefits of such agreements. Termination of such agreements would currently not have a material impact on our financial condition or results of operations.
OUR STRENGTHS
Our principal strengths include the following:
the ""Bank of China’’ brand, one of the most well-recognized brands in Hong Kong;
a leading presence in the financial services market in Hong Kong;
an extensive distribution network for banking products and services in Hong Kong;
integrated financial services offerings and substantial cross selling opportunities; and
a competitive advantage in Mainland China related banking businesses.
OUR STRATEGY
Our objective is to maximize shareholder value. To achieve this objective, we plan to leverage our strengths and capitalize on the opportunities arising from the Restructuring and Merger. Specially, we intend to strengthen our position as one of the leading commercial banking groups in Hong Kong and increase our profitability by focusing on the following strategic initiatives:
increase revenues through more effective cross selling;
focus on high return product segments;
improve profitability by optimizing our asset-liability mix and pricing;
improve asset quality;
enhance operating efficiencies;
manage our capital base to maximize shareholders’ value;
increase employee productivity and create a customer-focused culture; and
capitalize on our relationship with XXX to better serve our customers and strengthen our position in both the Hong Kong and the Mainland China financial services markets.
RISK FACTORS
There are certain risks and considerations relating to an investment in the Offer Shares. These can be categorized into (i) risks relating to our loan portfolio, (ii) risks relating to our business, (iii) risks relating to the Restructuring and Merger, (iv) operational risks at XXX, (v) risks relating to Hong Kong and Mainland China, (vi) risks relating to the banking industry in Hong Kong and (vii) risks relating to the Global Offering. These risk factors and considerations are further described in the section headed ""Risk Factors’’ and are summarized as follows:
XXX
重要提示
阁下如对本招股书存有任何疑问，应咨询阁下的股票经纪、银行经理、律师、专业会计师或其它专业顾问。
Xxx银行(控股)有限公司
XXX (HOLDINGS) LIMITED
（根据公司条例于香港注册成立的有限公司）
全球售股
全球售股的发售股份数目： 2,298,435,000 股（可予调整及按超额配股权调整）
香港发售股份数目： 229,843,500 股（可予调整）
最高发售价： 每股发售股份9.50港元，认购股款须于申请时以港元缴足（多收款项将予退还）
面值： 每股股份5.00港元
股票编号： XXX
联席全球协调人及联席帐册管理人
中银国际控股有限公司
高盛（亚洲）有限责任公司
瑞银华宝
联席保荐人
中银国际亚洲有限公司
高盛（亚洲）有限责任公司
瑞银华宝亚洲有限公司
香港联合交易所有限公司及香港中央结算有限公司对本招股书的内容概不负责，对其准确性或完整性亦不作任何陈述，并表明不会就因本招股书全部或任何部分内容而产生或因倚赖该等内容而引致的任何损失承担任何责任。
本招股书连同本招股书附录八「送呈及备查文件」一节所述的文件，已按照香港法例第32章公司条例第38D条的规定，送呈香港公司注册处登记。证券及期货事务监察委员会及香港公司注册处对本招股书或上述任何其它文件的内容概不负责。
发售价预期将由联席全球协调人（代表香港承销商及国际买家）、中国银行与售股股东在咨询本公司后于定价日磋商厘定。定价日预期为2002年7月20日或之前。
发售价不会高于每股发售股份9.50港元，而目前预期将不会低于每股发售股份6.93港元。联席全球协调人（代表香港承销商及国际买家）经中国银行、售股股东与本公司同意后，可于递交香港公开发售申请表格最后日期的上午前，随时调低发售股份数目及／或本招股书所述的指示发售价范围（每股发售股份6.93港元至9.50港元）。倘出现上述情况，有关调低发售股份数目及／或指示发售价范围的通知，将于递交香港公开发售申请表格最后日期的上午前于南华早报、香港经济日报及信报公布。香港公开发售的申请人须注意，申请一经递交即不能撤回，即使发售股份数目及／或发售价范围其后调低亦然。投资者申请认购香港发售股份，必须缴付最高发售价每股香港发售股份9.50港元，连同1%经纪佣金、0.007% 证劵及期货事务监察委员会交易征费及0.005%联交所交易费，如按上文所述厘定的最终发售价低于最高发售价，多收款项则将予退还。
倘由于任何原因，联席全球协调人（代表香港承销商及国际买家）、中国银行与售股股东在咨询本公司后未能于2002年7月20日或之前协议发售价，则全球售股不会进行。
2002年7月15日
xxx
目录
阁下作出投资决定时仅应倚赖本招股书及申请表格所载的资料。本公司并无授权任何人士向 阁下提供与本招股书不同的资料。 阁下不应倚赖本招股书以外的任何资料或陈述，将其视为已获本公司、XXX、售股股东、联席全球协调人、联席保荐人、香港承销商、国际买家或本公司／彼等各自的董事或参与全球售股的任何其它人士授权提供的资料或陈述。
预期时间表........................................................... i
概要.... ......................................................... 1
释义..... ................................................... 14
风险因素....... ........................................... 25
本招股书和全球售股的资料......... ................ 36
参与全球售股的各方........... ............................ 42
公司资料..... .................................................... 47
重组及合并..... ................................................ 48
银行业背景....... ............................................... 58
监督和监管......... .............................................. 67
业务....... ............................................................ 79
概述........ ........................................................ 79
本公司的优势........ ........................................ 80
本公司的策略........ ....................................... 81
本公司的主要业务活动......... ........................ 84
分销网络...... ................................................. 104
南商及集友的业务....... .................................. 106
风险管理...... ................................................. 107
后台支持处理........ ........................................ 122
科技....... ......................................................... 124
竞争...... ......................................................... 125
物业..... .......................................................... 126
法律诉讼与监管事项........ ........................... 129
策略性投资者......... ...................................... 131
本公司资产与负债概述.......... ........................... 132
资产...... ........................................................ 132
债务及资金来源..... ...................................... 160
XXX及其与本公司的关系...... .................. 165
XXX及其与本公司的关系...... ............. 165
对XXX声誉产生不良影响的事件..... ............... 167
关连交易.... ................................................. 169
董事、高级管理人员及职员.... .................................................. 192
主要股东......... ................................................ 204
股本.... .............................................................. 205
财务资料..... .................................................... 206
概述..... ........................................................ 210
经营业绩....... ............................................... 216
财务状况........ .............................................. 231
负债....... ....................................................... 240
上市规则第19 项应用指引....... .................. 240
溢利预测....... ............................................... 241
股息政策....... ............................................... 241
可供分派储备.... .......................................... 242
经调整有形资产净值....... ............................. 242
无重大负面变动....... ...................................... 242
豁免........ ....................................................... 243
未来计划及全球售股所得款项........ ................ 244
承销........ .......................................................... 245
全球售股的架构........ ...................................... 250
散户折让....... .................................................... 258
如何申请认购香港发售股份........ ................... 260
香港公开发售的条款及条件....... .................... 267
招股书、申请表格及分配结果...... .................. 279
附录一 — 会计师报告... .................................. I-1
附录二 — 未经审核补充财务资料.. .............. II-1
附录三 — 溢利预测.... ..................................... III-1
附录四 — 物业估值... ...................................... IV-1
附录五 — 组织章程概要.... ............................. V-1
附录六 — 法定及一般资料..... ....................... VI-1
附录七 — 本公司的附属公司... ...................... VII-1
附录八 — 送呈及备查文件...... ....................... VIII-1
概要
本概要旨在向 阁下提供本招股书所载资料的概略。由于只属概要，故不一定包括所有对 阁下来说，均为重要的资料。 阁下应仔细阅读整份文件后，始行决定是否投资于发售股份。
本公司于2001 年9 月12 日注册成立。本公司目前的公司及业务架构乃由于香港XXX集团全面重组商业银行业务而成立，该重组于2001 年10 月1 日生效。编制本招股书其它部分所载的本公司综合财务报表时，乃假设本公司目前架构及业务于截至2001 年12 月31 日止三个年度内一直存在。本招股书所呈列的本公司2001 年10 月1 日之前的营运及财务资料反映香港XXX集团的商业银行业务。
概述
本公司是香港一家主要商业银行集团，通过设在香港的343 家分行、434 部自动柜员机和其它服务和销售渠道向零售客户和企业客户提供全面的金融产品与服务。本公司的主要营运附属公司XXX香港是香港三家发钞银行之一。此外，本公司在中国内地设有14 家分行，以切合本公司香港及中国内地客户对跨境银行服务的需求。按资产及客户存款计算，本公司是香港第二大商业银行集团。于2001 年12 月31 日，本公司是香港两大放款银行之一。在截至2001 年12 月31 日止年度，本公司的拨备前经营溢利和股东应占溢利分别为131.62 亿港元和27.68 亿港元。于2001 年12 月31 日，本公司的总资产为7,661.4 亿港元，股东资金为521.7 亿港元。
本公司经营三类主要业务：
‧ 零售银行 本公司在香港的零售银行业具领导地位。于2001 年12 月31 日，就尚未偿还贷款而言，本公司为第三大房屋按揭贷款人，占16% 的市场份额，亦为香港最大的信用卡发行人之一。本公司向客户提供各种零售银行产品与服务，包括存款、房屋按揭贷款、居者有其屋计划贷款、汇款、信用卡以及投资产品服务，例如证券、投资基金、保险、外汇买卖、贵金属买卖和个人财富管理服务。本公司并根据客户需求提供一系列其它相关零售产品与服务，包括自动转帐、保险箱、直接扣款服务、信托服务和换汇等；
‧ 企业银行 本公司在香港企业银行业中位居前列。于2001 年12 月31 日，本公司是香港两大企业贷款机构之一，按未偿还贷款计算之市场占有率为15.6% 。本公司向企业客户和机构客户提供多样的银行产品与服务，包括存款产品、贷款产品（例如营运资本融资、银团贷款、项目融资和资产融资），以及非利息收入的产品及服务（例如银团贷款安排、信贷安排、贸易融资安排、现金管理产品及服务、强积金服务和保险代理服务）。本公司还向企业客户提供其它非利息收入服务，包括汇款服务及证券交易服务等；及
‧ 资金业务 本公司为香港银行同业货币市场的主要参与银行之一。本公司亦向零售客户提供传统资金服务（包括外汇兑换及贵金属买卖），并获《环球金融》杂志选为2001 年最佳外汇兑换银行之一。在资金业务中，本公司参与银行同业货币市场的活动，并且就外汇和衍生工具交易向本公司客户提供落盘执行服务。本公司亦参与资本市场交易以进行证券投资，并有限度地从事自有交易，主要是外汇和债券交易。此外，本公司亦向客户提供其它资金服务，例如实时报价和客户落盘执行服务、货币期权挂漖存款报价及落盘执行服务和贵金属买卖。
本公司相信，藉其与XXX的关系，本公司可利用XXX在香港的非银行附属公司及联属公司（包括中银国际证券及中银保险）的产品，以及XXX在中国内地及全球的广阔分行网络及庞大的客户群，在扩充及获取中国内地相关业务方面尽显优势。
重组及合并
本公司于2001 年9 月12 日注册成立，持有本公司的主要经营附属公司XXX的全部股权。于2001 年10 月1 日，香港XXX过往九个实体实质上全部的商业银行业务，以及有关的资产及负债均转让予宝生（同日，其名称更改为XXX（香港）有限公司），其中包括XXX香港分行、在中国组织成立的银行在香港及中国内地的分行，以及XXX于香港注册成立的一间附属银行。同日，XXX另外两间于香港注册成立的附属银行及一间信用卡附属公司成为XXX的附属公司。本公司为全面实现合并带来的利益，故亦已进行重组以整合此等合并业务，并使其更符合市场先进做法。
重组及合并旨在提高股东价值并达致以下目标：
‧ 统一本公司的品牌形象；
‧ 集中管理；
‧ 推行符合市场先进做法的企业管治；
‧ 实行以客为本及推动营销的经营架构；
‧ 透过运作集中化、消除冗赘及发挥规模经济效益，降低成本及改善效率；
‧ 采用符合国际标准更为集中、独立和综合的风险管理系统及守则；
‧ 建立有助本公司达成目标的技术及组织基础结构；及
‧ 精简并合理化本公司人手，并鼓励员工争取更高水平的表现。
若干协议所涉及并非受香港法例监管的权利、权益、利益及负债，并无根据合并条例转让，须采取进一步步骤才可转让予XXX香港。就转让仍未完全完成的少数的交易而言，重组及合并可能构成监管交易文件的违约事项，因此协议可由交易对手酌情终止，而XXX可能不会收到该等协议的利益。目前，终止该等协议对本公司的财务状况或经营业绩将不会有重大影响。
本公司的优势
本公司的主要优势包括：
‧ 「XXX」品牌为香港最著名的银行品牌之一；
‧ 在香港金融服务市场中占有主导地位；
‧ 在香港拥有广泛的银行产品与服务分销网络；
‧ 高度整合的金融服务以及广泛的交叉销售机会；
‧ 在与中国内地相关的银行业务方面享有竞争优势。
本公司的策略
本公司以尽量提高股东价值为目标。为达到该目标，本公司计划利用其独有优势，以及尽量掌握重组及合并带来的机遇。本公司更计划透过下列策略，加强其作为香港主要商业银行集团的地位及提高盈利：
‧ 采取更为有效的交叉销售来增加收入；
‧ 注重高回报产品类别；
‧ 透过优化资产负债组合及定价策略，提高盈利能力；
‧ 改善资产质素；
‧ 提高运作效率；
‧ 管理资本基础，为股东带来最高的价值；
‧ 提高员工的生产力，并培育以顾客为中心的文化；
‧ 充分利用本公司与XXX的关系，为顾客提供更优质的服务，同时加强本公司在香港及中国内地金融服务市场的地位。
风险因素
投资于发售股份涉及若干风险及考虑因素。该等风险及考虑因素可分为：(i)与本公司贷款组合有关的风险；(ii)与本公司的业务有关的风险；(iii)与重组及合并有关的风险；(iv)XXX的经营风险；(v)与香港及中国内地有关的风险；(vi)与香港银行业有关的风险；及(vii)与全球售股有关的风险。该等风险因素及考虑因素于「风险因素」一节详述，并于下文概述：
XXX
本公司主持、参加了国内多家公司海外上市招股说明书翻译，涉及银行、保险、电信、航空、海运、石油、生物等多种行业，在银行和保险公司招股书翻译领域更是一路领先。我们竭诚为客户提供最及时、最优质的全程招股书翻译服务。请联系：010 84853545。 |
