22 Oct 2017,
  • HSI:
    28,487.24 328.15 (1.17%)
    HSCI:
    11,558.35 200.90 (1.77%)
    HKSPLC25:
    36,549.71 384.31 (1.06%)
    HKSPGEM:
    277.93 2.87 (1.04%)
  • HSCEI:
    11,558.35 200.90 (1.77%)
    HSCCI:
    4,395.40 61.05 (1.41%)
    HSFML25:
    10,012.97 172.14 (1.75%)
    H-FIN:
    18,539.68 313.65 (1.72%)
  • Hang Seng Index
  • 28,487.24

  • 328.15 (1.17%)
HSCI 11,558.4 200.9
HKSPLC25 36,549.7 384.3
HKSPGEM 277.9 2.9
HSCEI 11,558.4 200.9
HSCCI 4,395.4 61.1
HSFML25 10,013.0 172.1
H-FIN 18,539.7 313.7
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China Resources and Transportation Group Limited (00269.HK)

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2017 (AR)
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China Resources and Transportation Group Limited ("CRTG" or the “Company”) is listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 00269). The Company and its subsidiaries (the Group) operate toll way and expressway in Inner Mongolia through the investment in Inner Mongolia Zhunxing Heavy Haul Expressway Company Limited (“Zhunxing”). Zhunxing has the exclusive right to build and operate for 30 years (excluding the construction period) the first heavy haul toll expressway in the People’s Republic of China (“PRC”) designed mainly for coal transportation in Inner Mongolia. The heavy-duty toll expressway will run from the Jungar Banner, the major coal production area located south of Hohhot in Ordos, towards the northeast for 265 km to Xinghe County, a major logistics hub for coal distribution in Northern PRC. This project is strategically important to the energy resources logistics in Northern PRC, as it connects the coal production area with the distribution center in the shortest, most convenient and economical way. The Expressway is expected to open for traffic in the 4th quarter of 2013. It is designed to sustain 100-ton trucks whereas most other expressways in PRC can only allow 55-ton trucks...
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Mr. Cao Zhong - Chairman of the Board and Executive Director

Mr. Cao, aged 57, has been appointed as an executive director and the chairman of the Board of the Company since 19 November 2010. Mr. Cao was graduated from Zhejiang University and the Graduate School of the Chinese Academy of Social Sciences with a bachelor degree in engineering and a master degree in economics, respectively. Since 1988, Mr. Cao had served various institutions such as the National Development and Reform Commission of China, Guangdong Province Huizhou Municipal People’s Government, Beijing International Trust and Investment Company Limited, Shougang Corporation and the Development Research Centre of the State Council of China.

Mr. Cao is currently an executive director, chief executive officer and chairman of FDG Electric Vehicles Limited (Stock Code: 729), and an executive director and chairman of FDG Kinetic Limited (formerly known as CIAM Group Limited) (Stock Code: 378), both being companies whose shares are listed on the Hong Kong Stock Exchange. 

Mr. Fung Tsun Pong - Vice-chairman of the Board and Executive Director

Mr. Fung, aged 57, has been appointed as an executive director of the Company since 22 September 2004. Mr. Fung has over 20 years of experience in property development, logistics, investment banking and company management. Mr. Fung has held senior management positions in various companies incorporated in Hong Kong, British Virgin Islands and Samoa.

 

Mr. Jiang Tao - Chief Executive Officer and Executive Director

Mr. Jiang, aged 36, has been appointed as the chief executive officer of the Company since 12 May 2016 and an executive director of the Company since 12 August 2016. Mr. Jiang graduated from the University of International Business and Economics (對外經濟貿易大學) in the People’s Republic of China with a bachelor degree in economics. Prior to joining the Company, Mr. Jiang has over ten years’ experience in the banking industry and was the president of a fund management company in the People’s Republic of China.

Mr. Tsang Kam Ching, David - Finance Director and Executive Director

Mr. Tsang, aged 60, has been appointed as an executive director of the Company since 17 February 2004. Mr. Tsang has extensive financial management experience over the past 20 years which covers merchant banking, stock broking and corporate finance business. Mr. Tsang is also a fellow member of the Association of Chartered Certified Accountants and a member of the HKICPA.

Mr. Gao Zhiping - Executive Director

Mr. Gao, aged 55, has been appointed as an executive director of the Company since 17 June 2013. Mr. Gao was graduated from China Europe International Business School(中歐國際工商學院)with a Master of Business Administration and is a Senior Economist certified by the State Grid Corporation of China(國家電網公司). He has received the awards of Distinctive Young Enterprise Management Personnel and Distinctive Pilot Project Construction Personnel of Henan Province. From 1979 to 1994, he served various departments in the local administrative office of Nanyang Prefecture in Henan as secretary of finance office as well as the chief officer of the finance office of Nanyang city government. From 1994 to 2009, he was positioned as the deputy general manager and the secretary of the party committees of Nanyang YaHeKou Electricity Company Limited (南陽鴨河口發電有限責任公司)and Nanyang Tianyi Power Generation Co., Ltd. (南陽天益發電有限責任公司), both being subsidiary of Henan Investment Group (河南投資集團). He also took up the post as the deputy general manager of Tianjin Hangfa (Jinji) Expressway Company Limited(天津航發(津薊)高速公路有限公司) and the chairman of the board of directors of Nan Yang WDX Expressway Construction Co., Ltd.(南陽宛達昕高速公路建設有限責任公司)in 2010. From October 2010 to February 2014, he has been appointed as the general manager of Inner Mongolia Zhunxing Heavy Haul Expressway Company Limited(內蒙古准興重載高速公路有限責任公司)(“Zhunxing”), an indirect subsidiary of the Company.  Since the end of February 2014, he has been appointed as the chairman of the board of directors of Zhunxing, and has made great contribution to the management of Zhunxing and construction of the expressway of Zhunxing.

Mr. Suo Suo Stephen - Non-executive Director

Mr. Suo, aged 45, has been appointed as a non-executive director of the Company since 2 July 2014.  He is a CFA charterholder and an asset manager with over 18 years’ experience in banking, private equity and asset management sectors. Mr. Suo received his Master in Business Administration from University of Rochester in the United States in March 2000. During the period from June 2011 to 2014, he was the Asia Head and Executive Director of EIG Global Energy Partners (“EIG”), a global private equity fund. Before joining EIG, Mr. Suo was a portfolio manager of Trust Company of the West from 2005 to 2011. From late 1999 to 2005, Mr. Suo worked for Fortis Capital Corp. in the United States and had served as Group Head of its United States Leveraged Finance team.

Mr. Yip Tak On - Independent Non-executive Director

Mr. Yip, aged 70, has been appointed as an independent non-executive director of the Company since 22 September 2004. Mr. Yip is a fellow member of the Association of Chartered Certified Accountants, HKICPA, Taxation Institute of Hong Kong, and a full member of the Hong Kong Securities and Investment Institute. Mr. Yip has founded his own Certified Public Accountants firm for more than 30 years and he is the managing director of T. O. Yip & Co., Limited. Mr. Yip is the president of a charitable institution, the Neighborhood Advice-Action Council. Mr. Yip has not held directorships in other listed company in the last three years.

Mr. Jing Baoli - Independent Non-executive Director

Mr. Jing, aged 52, has been appointed as an independent non-executive director of the Company since 28 February 2006. Mr. Jing graduated from Beijing University Law School with a Bachelor’s degree in Laws in 1987 and acquired a Master’s degree in Laws from Lanzhou University in 1997. After graduation from Beijing University, he was assigned to the High Court of Gansu Province and worked in various positions till 1997. In 1997, Mr. Jing joined Gansu Tianhe Law Firm as a partner and in 1999, he joined Beijing Shuang Cheng Law Firm as an attorney-at-laws. In August 2007, Mr. Jing joined China Commercial Law Company, Guangdong.

Mr. Bao Liang Ming - Independent Non-executive Director

Mr. Bao, aged 61, has been appointed as an independent non-executive director of the Company since 1 February 2007. Mr. Bao has vast executive and management experience. He has held various directorships in state-owned enterprises in Tianjin and Beijing of the People’s Republic of China.

Mr. Xue Baozhong - Independent Non-executive Director

Mr. Xue, aged 62, has been appointed as an independent non-executive director of the Company since 12 August 2016.  Mr. Xue graduated from Lan Zhou Commerce School (蘭州商學院) in the People’s Republic of China, majoring in corporate management. Mr. Xue was the chairman and general manager of Gansu Province Zhongbao Economic and Trade Co., Ltd. (甘肅省中寶經貿有限公司) and Shanghai Wanye Economic and Trade Co., Ltd. (上海萬野經貿有限公司) for the periods from 1996 to 1998 and from 1999 to 2012, respectively. During the period from 2013 to June 2016, he was the vice president of Copower Enterprise Group Limited (長和實業集團有限公司).

Mr. Duan Jingquan - Executive Director

Mr. Duan, aged 61, has been appointed as an executive director of the Company since 7 November 2011. He was the managing director of the Accounting Society of China, a member of the Specialist Advisory Committee of the China Association of Actuaries, an adjunct professor of The Peking University HSBC Business School and a member of the Steering and Consultation Committee for Innovative Development of Shenzhen Insurance Industry. Mr. Duan graduated from Dongbei University of Finance and Economics (formerly known as Liaoning Institute of Finance and Economics) in 1982. He served the Ministry of Finance for around 20 years and assumed different positions, including as the chief officer of the Commerce Bureau of the Finance Department, the deputy head and the head of the Central Planning Office from 1982 to 1994, the deputy head of the Supervision Department from 1994 to 1998, the head of the Finance Supervision Department and the Supervision and Inspection Department from 1998 to 2002. Between 2002 and 2005, he was positioned as the deputy general manager of China Export and Credit Insurance Corporation.
 
From 2005 to 2009, he was appointed as the secretary of the party committees, general manager and director of Mingsheng Life Insurance Company Limited. In August 2009, Mr. Duan joined Sino Life Insurance Company Limited (“Sino Life”) and served as its general manager and director and he was then appointed as the vice chairman of Sino Life in October 2010. From October 2011 to April 2013, he took up the role as the Chairman of the Supervisory Committee of Sino Life. Mr. Duan was the major author of “Introduction to Financial and Political Supervision”《財政監督學概論》, his first treatise on finance and politic. He has been selected by China Insurance Journal as one of the “Top Ten Persons of 2009 in the Insurance Industry”. Mr. Duan has over 20 years’ experience in management of state agencies and enterprises. While he was with the Ministry of Finance, he developed and implemented various state finance management mechanisms which still exert significant influences nowadays. During his years with commercial enterprises, he pushed forward various reform programs, exercised assiduity at company management and operation, thus remarkably enhanced the performance of the enterprises.
 
Audit Committee
The terms of reference of the Audit Committee was amended on 30 June 2016 to comply with the CG Code. The Audit Committee is responsible to the Board and consists of at least three non-executive directors from time to time.

Duties of the Committee include review of the completeness and accuracy of the Company's financial statements, annual reports and accounts and interim reports to provide assurance to the Board that these comply with accounting policies, standards and practices, stock exchange and legal requirements. The Committee also reviews the adequacy and effectiveness of the financial controls, internal control and risk management systems. It also makes recommendation to the Board of Directors on the appointment and removal of external auditors and their terms of engagement as well as monitors the external auditor's independence and effectiveness and recommends any appropriate actions required.

Members of Audit Committee:

Chairman:
 
Members:
 
Remuneration Committee
The Remuneration Committee was set up on 26 September 2005 to determine policy on executive directors and senior management's remuneration and fixing remuneration packages. The Remuneration Committee comprises at least three members appointed by the Board from time to time.

The Committee has considered in detail the remuneration packages of staff of the Group at various levels, including Executive Directors. In order to be able to attract and retain staff of suitable calibre, the Group provides a competitive remuneration package. This comprises salary provident fund, leave passage and discretionary bonus. The remuneration policy has contributed considerably to the maintenance of a stable, motivated and high-calibre management team in the Group.

The remuneration policy and the levels of remuneration paid to Executive Directors of the Group were reviewed by the Remuneration Committee every year.

Members of Remuneration Committee:

Chairman:
Mr. Yip Tak On

Members:
Mr. Cao Zhong
Mr. Jing Baoli
Mr. Bao Liang Ming
 
Nomination Committee
The Nomination Committee was set up on 28 November 2011 to assist the Board to ensure that the selection of Directors and senior management are in line with the Company's overall corporate strategy. The Nomination Committee comprises at least three independent non-executive directors appointed by the Board from time to time.

The Nomination Committee is mainly responsible for reviewing and monitoring the structure, size and composition of the Board at least annually and making recommendations on any proposed changes to the Board to complement the Company's corporate strategy. The committee identifies and nominates qualified individuals for appointment as additional directors or to fill the vacancies in the Board as and when they arise, and makes recommendations to the Board on the appointment or re-appointment of directors and succession planning for directors in particular the chairman and the chief executive officer. The committee is also responsible for assessing the independence of the independent non-executive directors.

Members of Nomination Committee:

Chairman:
Mr. Cao Zhong

Members:
Mr. Yip Tak On
Mr. Jing Baoli
Mr. Bao Liang Ming
 
 
 
 

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WEBSITE

www.crtg.com.hk

COMPANY INFORMATION

Listed Date 19 Mar 1973

Address Room 1801-05,
China Resources Building,
26 Harbour Road, Wanchai,
Hong Kong

Telephone (852) 3176 7100

Facsimile (852) 3176 7122

Email info@crtg.com.hk

No. of Click Rate

200872