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Specializes in:
Finance (general)
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Law: Contract(s)
Accounting
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Investment / Securities
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English to Chinese - Rates: 0.05 - 0.08 USD per word
English to Chinese: Chairman's Statment (into HK traditional Chinese) General field: Bus/Financial Detailed field: Finance (general)
Source text - English 2011 continued to be a challenging year as the operating environment remained difficult and unpredictable for the global textile and garment industry. This was further complicated by the recent roller-coaster movement in cotton prices, where international cotton yarn costs (Cotlook A Index) peaked at a record high US229 cents per pound in March 2011 before backtracking to approximately US95 cents per pound by December 2011. This represented a value loss of approximately [60]%. This big swing has also subsequently altered our normal business cycle in the Year.
The Group’s peak export seasons traditionally lie in the second and third quarter. However, following a near doubling of raw material prices in 2010, our customers purposely and strategically placed their orders in advance to hedge cotton price risks in the year. This resulted in a strong order book for the first quarter of 2011. The expanded production volume and sufficient cotton yarn inventory gave the Group greater bargaining power to raise our overall selling prices and thus elevated our margins for the interim period. Yet the situation was rather different in the latter half of the year, as declining cotton prices and hopes on a market recovery led to prudent purchasing behavior. As such, profit and margin levels for the second half financial year was relatively lower in comparison because we had to face unstable buyers orders and uneven production lead time, thus resulting with shorter delivery times in the fourth quarter.
Despite the fickle external market conditions, I am pleased to report a satisfactory year-on-year growth of [*]% and [*]% in our aggregate turnover and net profit respectively, demonstrating our adaptability during times of uncertainty. Backed by our proven track record and large production scale, I am confident that our Group will achieve steady growth in the long-term.
The Board has resolved to recommend the payment of a final dividend of HK[ ] cents per share subject to approval by the shareholders at the forthcoming annual general meeting of the Company.
PROSPECTS
As slow recovery is anticipated for the US and European markets, we aim to accelerate business ventures in the Asia region, with focus in the People’s Republic of China (the “PRC”), South Korean and Japan market. To further strengthen our role in the global textile and garment supply chain, the Group is prepared to expand our existing production facilities in Enping, the PRC when appropriate. We will also dedicate efforts to enhance our product mix through the development of high-margin functional and printed fabrics. Such endeavour is currently in the works and is expected to attract a wider customer base, thus driving our market share growth.
Looking ahead, the Group will remain dedicated to our core business, with an unwavering aspiration to become on the leading players in the global textile and garment industry. Facilitated by the on-going market consolidation, with our proactive development strategies and effective control mechanisms, I strongly believe that this vision is well within our reach and that continuous growth is anticipated in the long-run.
Translation - Chinese 二零一一年仍然是充滿挑戰的一年，全球紡織及成衣業之營商環境依然艱難且難以預測。而近來棉花價格反覆波動，令情況更加複雜。國際棉紗價格（Cotlook A指數）曾一度於二零一一年三月創下新高每鎊229美仙，其後於二零一一年十二月下跌至約每鎊95美仙，跌幅約[60]%。棉紗價格大幅波動亦導致本集團本年度之日常經營週期隨之改變。
本集團之傳統出口旺季為第二及第三季度。然而，在二零一零年原材料價格上漲幾近一倍後，本集團客戶有意及有策略地提前下訂單，以對沖年内之棉花價格風險。因此，本集團於二零一一年第一季度接獲大量訂單。產能擴大及棉紗庫存充足，令本集團握有更大的議價權以提升整體售價，因此中期利潤率得以提升。然而，下半年之情況卻截然不同，隨著棉花價格下跌及客戶憧憬市場復甦，客戶之採購行為趨於審慎。因此，本財政年度下半年之溢利及利潤率相對較低，原因是本集團不得不應對不穩定之購買訂單及不規則之產品交付期，而這則導致第四季度之交付期有所縮短。
儘管外部市場環境反覆無常，然本人欣然報告本集團總收入及純利均錄得令人滿意的增長，增幅分別為[*]%及[*]%，證明本集團有能力在不明朗時期應對不利因素。基於本集團之卓越往績及龐大的生產規模，本人相信，長期内本集團將穩定增長。
董事會已議決，建議派付末期股息每股[●]港仙，惟須待股東於本公司應屆股東週年大會上批准。
English to Chinese: Fund Commentary (into HK traditional Chinese) General field: Bus/Financial Detailed field: Finance (general)
Source text - English Asian markets ended the month lower, running out of steam in March after a strong start to 2012. Company earnings in Asia were mixed with global growth concerns resurfacing as oil prices remained at elevated levels given increasing tensions with Iran and fears of potential supply disruptions. ASEAN markets were the best performers, namely Thailand, Indonesia, and the Philippines; however, this was more than offset by poor performances in China, Australia, and India. There appeared to be a move away from energy and materials, the worst performing sectors in March, towards stocks leveraged to the US recovery, with the IT sector a strong performer. Defensive areas were also amongst the best performers, with healthcare and consumer names leading.
Translation - Chinese 經過2012年初強勁上升後，亞洲股市在3月份盡顯疲態，全月低收。亞洲公司盈利好壞互見；伊朗的緊張局勢加劇，加上市場擔憂供應可能中斷，導致油價居高不下，引發市場再度憂慮全球經濟增長。東盟市場（即泰國、印尼及菲律賓）表現最佳，但中國、澳洲及印度的疲弱表現完全蓋過前者的影響。投資者似乎抛棄能源股及材料股（二者為3月份表現最差的板塊），轉進受惠於美國經濟復甦的個股，帶動資訊科技板塊表現亮眼。防禦型股亦為表現最佳的板塊之一，醫療保健股及消費股的升幅居前。
English to Chinese: TIME TO PROVE OUR STRENGTH (into simplified Chinese) General field: Bus/Financial Detailed field: Business/Commerce (general)
Source text - English TIME TO PROVE OUR STRENGTH
After the collapse in 2008, the industrial world crisis in 2009 and the turnaround in 2010, we are now halfway into 2011, which is developing just as we expected the new world would be – slow growth in the developing part of the world and high levels of uncertainty in the global economy leading to very volatile markets.
At the A Group we believe this scenario will continue for some time, but our industries are growing also now, and we will use this period to invest in strengthening our market positions further.
Already a market leader in container shipping, we have in the first six months of 2011 invested 3.8 billion USD in a series of the world’s largest and by a wide margin most energy efficient container vessels.
The Macondo accident in the US Gulf of Mexico taught the oil industry the importance of safety in operation and of using modern equipment in drilling and production. A Drilling with its young fleet and good name had the first rig in the Gulf to go back on exploration drilling, working for Exxon. We believe that the accident will lead to increased demand for modern rigs and high quality operators like A Drilling. By investing 3.8 billion USD in four new drillships for ultra deepwater and two new jack-up rigs for ultra harsh environment, we have taken important steps to develop A Drilling into a leading drilling company.
Having successfully completed the development of the Al Shaheen field in Qatar, the time has also come at A Oil to step up its investment in the future. Acquisitions of three additional fields in Brazil and sanctioning of the Golden Eagle development in the UK North Sea alone means we will invest 3.4 billion USD in our plan to stabilize – and subsequently grow – the production of A Oil.
Also B Business has been very active in the first part of 2011 taking over port operation in Collao in Peru, Poti in Georgia and Monrovia in Liberia.
Building strong positions in these four important business areas are key elements in our strategy.
To be successful with our plans we will also need to abandon areas where we are subscale, or where we cannot make profits, and that is the reason why we are exiting our shipyards and offering our LNG business for sale, as two examples.
To succeed we must also be world class operators in our continuing businesses with simultaneous focus on improvements within costs and safety. To grow profitably we need to continuously strengthen our focus on our customers and expand our position in the world’s growth markets, where we already have strong positions and competent organisations.
The coming months look challenging in most markets. To us this is a great chance to prove our strength and build a common future with our customers and partners. We have an excellent foundation to build on, also in the new normal.
I am a native Chinese speaker and freelance translator. I worked as an in-house translator in two Hong Kong-based companies for seven years specializing in translation of accounting, financial, marketing and legal documents into Simplified Chinese and Traditional Chinese (HK). As a holder of bachelor's degree in economics and stock and future trader, I am well positioned to deliver quality translation into both SC and TC (HK) Chinese at reasonable prices.
My areas of expertise:
Accounting, Financing, Securities, Banking, Investment, Enterprise Management, Law, Marketing and Business.
1) Financial and Accounting：Annual / Interim Financial Results, Auditor's Reports, Evaluation Reports, Management Reports, Social Responsibility Reports, Corporate Governance Reports, Report on the Verification of Capital, Corporation Financing, Internal Audit Review;
2) Securities, Banking and investment: Prospectus, Share Offering, Acquisition and Disposal Circular, Share Option Plan, Initial Public Offering (IPO), Merge and Acquisition, Commentaries of Funds, Fund Investment, Financial Risk Management, Commercial Bank Operation;
3) Enterprise Management: Memorandum and Articles of Association, Resolution of Board Meeting, the Memo of Board Meeting, the Proposal Concerning Amendment on Articles of Association, Purchase and Sale Contract, Internal Control System, Meeting Minutes, Enterprise Culture, Enterprise Pricing Strategy, Multinational Corporation Management, Enterprise Resource Plan (ERP), Investment Report, Consumer Relationship Management, Biographies of Directors and Management;
4) Law: Non-disclosure and Non-complete Agreement, Master Supply Agreement, Powers of Attorney, Licensing and Other Agreements related to intellectual property rights;
5) Marketing and Business: Business Plan, Retailing, E-business, Customer Relationship Management, Business Culture, Distribution Strategy, Market Research, Surveys, Press Release;
Both English and Chinese CVs will be available on request.
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