全球化研究报告-PDF版

百度 Baidu, Inc.（BIDU）2019年年度报告「NASDAQ」（英文版）（336页）.pdf

用勾号标明注册人使用了哪些会计基础来编制本文件所包括的财务报表:如果“其他”已被用于回答上一个问题，用勾号标明注册人选择遵循哪个财务报表项目。

2019-12-02 336页 5星级

高盛 Goldman Sachs Group Inc. (GS) 2019年年度报告「NYSE」（英文版）（228页）.pdf

高盛集团有限公司1各位股东:在这封信于2020年3月中旬付印之际，世界正在经历一场全球健康危机，这给整个社会带来了巨大的压力，从世界上的每个家庭到代表绝大多数劳动力的每一家大小公司。这包括对非营利部门.

2019-12-02 228页 5星级

百胜中国2019年年度报告（英文版）（228页）.pdf

这些伟大的促销活动不仅吸引了我们的顾客，而且保护了我们的利润。2.4亿会员肯德基和必胜客的结合第三，事实证明我们的数字战略有效地加强了我们与客户的关系，从而提高了忠诚度，推动了销售。我们的肯德基和必胜客超级应用程序为顾客提供全方位、全数字化的体验。

2019-12-02 228页 5星级

蔚来 NIO Inc.（NIO）2019年20-F年度报告「NYSE」（英文版）（930页）.pdf

是否通过复选标记表明注册人是大型加速备案者，加速备案者，非加速备案者，还是新兴的成长型公司。参见交易法第12b-2条对“大型加速申报者”、“加速申报者”和“新兴成长型公司”的定义。

2019-12-02 930页 5星级

拼多多 Pinduoduo Inc.（PDD）2019年20-F年度报告「NASDAQ」（英文版）（415页）.pdf

我们产生了一种错觉般的控制感，或者至少让我们有了最终获得力的一厢情愿的想法。我们不再需要担心，因为每个物体都有一个可计算的轨迹，由它的位置、质量、速度和力决定。我们假设每个对象的当前状态完全包含并解释了它的过去，并且每个对象都是独立的。随着时间的推移，大量物体之间的大量相互作用会增加复杂性，出现混乱和不确定，因此是概率。似乎是时间造成了这种混乱和不确定性。概率只是大量物体轨迹的统计集合。

2019-12-02 415页 5星级

荷兰国际银行：2019年度荷兰国际银行年度报告（英文版）（449页）.pdf

ING Group Annual Report 2019 ING Group Annual Report 2019 Contents | Report of the Executive Board | Corporate governance | Risk Management | Consolidated financial statements | Parent company financial statements | Other information | Appendices Contents Report of the Executive Board ING at a glance 3 CEO statement 8 The world around us 13 Our strategy and how we create value 21 Innovation and transformation 28 Our business 41 Our people 66 Developments in risk and capital management 73 Composition of the Executive Board and Management Board Banking 81 ING shares 83 About this report 86 Independent auditors assurance report 89 Corporate governance Chairmans statement 92 Report of the Supervisory Board 96 Corporate governance 109 Dutch Corporate Governance Code Statement by the Executive Board 129 Report of the ING Continuity Foundation 131 Conformity statement 132 Remuneration report 133 Works councils 161 Risk Management Risk management 162 Consolidated financial statements Consolidated statement of financial position 252 Consolidated statement of profit or loss 253 Consolidated statement of comprehensive income 255 Consolidated statement of changes in equity 256 Consolidated statement of cash flows 259 Notes to the consolidated financial statements 261 Parent company financial statements Parent company financial statements 385 Other information and appendices Independent auditors report 400 Articles of Association - Appropriation of results 407 Risk factors 408 Non-financial appendix 430 Non-GAAP measures 446 General information 448 Contents ING Group Annual Report 2019 3 Contents | Report of the Executive Board | Corporate governance | Risk Management | Consolidated financial statements | Parent company financial statements | Other information | Appendices ING at a glance ING at a glance ING Group Annual Report 2019 4 Contents | Report of the Executive Board | Corporate governance | Risk Management | Consolidated financial statements | Parent company financial statements | Other information | Appendices ING at a glance Net Promoter Score Retail Banking1 (number of countries with number one ranking, rolling average) Total number of Retail Banking primary relationships (year-end) Climate Finance2 (lending outstanding, year-end) Net result attributable to ING Groups shareholders Underlying net result Banking3 2018 7 2017 7 2018 12.5 2017 11.4 2018 16.5 2017 14.6 2018 4,703 2017 4,905 2018 5,389 2017 4,957 7 13.3 18.7 4,781 4,781 million billion million million Social Impact Finance2 (lending outstanding, year-end) Sustainable Investment services (year-end) Number of customers that felt financially empowered1 Underlying result before taxation Banking3 of which underlying income3 2018 0.8 2017 0.5 2018 6.3 2017 4.8 2018 25.0 2017 25.4 2018 7,524 2017 7,199 2018 18,088 2017 17,704 0.7 9.3 25.9 6,834 18,306 billion billion million million million Underlying Human Capital Return on Investment indicator3 Retail Banking system availability in the Netherlands and Belgium1 Wholesale Banking system availability1 of which underlying operating expenses3 of which addition to loan loss provision 2018 2.51 2017 2.51 2018 99.7 2017 99.7 2018 99.9 2017 100 2018 9,907 2017 9,829 2018 656 2017 676 2.38 99.7% 99.9% 10,353 1,120 million million Performance highlights 2019 Non-financial figures 2019 Consolidated results 2019 5 Contents | Report of the Executive Board | Corporate governance | Risk Management | Consolidated financial statements | Parent company financial statements | Other information | Appendices ING at a glance Total assets (year-end) Shareholders equity (year-end) Customer lending4 (year-end) Customer deposits (year-end) Risk-weighted assets (year-end) 2018 887 2017 846 2018 50,9 2017 50,42018 597 2017 5742018 556 2017 5402018 314 2017 310 892 53.8 616 574 326 billion billion billion billionbillion Our financial goals Common equity Tier 1 ratio ING Group Leverage ratio ING Group5 Underlying return on equity ING Group3 Underlying cost/ income ratio3 Dividend per share 2018 14.5 2017 14,7 2018 4.4 2017 4.72018 11.2 2017 10.22018 54.8 2017 55.52018 0.68 2017 0.67 14.6% 4.6% 9.4% 56.6% 0.69 13.5 % (Basel IV) 4% 10-12% 50-52% Progressive dividend Share information Net result per shareShareholders equity per share (end of period) Price/earnings ratio Price/book ratio (end of period) 2018 1.21 2017 1.26 2018 13.09 2017 12.972018 7.8 2017 12.12018 0.72 2017 1.18 1.23 13.80 8.7 0.77 1 Subject to reasonable assurance by KPMG. Throughout the report indicated with an . See Independent auditors assurance report, page 89. 2 A description of INGs Climate Finance and Social Impact Finance, see . 3 Underlying figures are non-GAAP measures. These are derived from figures according to IFRS-EU by excluding the impact from special items and Insurance Other. See page 446 for a reconciliation between GAAP and non-GAAP figures. 4 Customer lending is defined as: loans something to help people accomplish their personal and business goals, like buying a place to live, paying for education, or investing to grow their business. Winners will be those with a superior digital experience, a strong trusted brand, and the ability to leverage a large customer base to attract partners to their platforms. The successful platforms take the effort out of managing finances, offering personalised, real-time advice and a suite of products and services to cover all financial and other relevant needs. At ING, our platform strategy starts with the ambition to create a uniform and borderless ING experience complemented by beyond banking and third-party offerings that add value for users. And a platform that is ready for open banking that can be a go-to platform offering the best financial services, whether from ING or from competitors. In 2019, we took an important step to create this beyond banking platform when we launched the first protection products in a number of markets as part of our global insurance partnership with AXA. The open nature of platforms means they have the potential to facilitate the whole customer journey around major life events. In 2019, ING and partners launched real-estate marketplace Scoperty across Germany. This proposition based on high-quality data and machine learning connects buyers and sellers with the aim to offer consumers more transparency and a broader range of offerings by showing 40 million real estate properties in Germany. Transforming for the future To achieve our platform ambition, were transforming ING. That means creating a uniform and modular technology foundation that helps us share innovations quickly across our businesses and that can be scaled up easily to accommodate growth, as well as open architecture so we can connect to third-party platforms and they with us. Were implementing one set of processes and procedures, and were pursuing one approach to how we store and analyse data, a key resource for understanding customers and anticipating their needs. And were uniting in one way of working across ING to increase effectiveness and reduce the time it takes to bring innovations to the customer. ING Group Annual Report 2019 10 Contents | Report of the Executive Board | Corporate governance | Risk Management | Consolidated financial statements | Parent company financial statements | Other information | Appendices CEO statement Innovation is core to how were preparing ING for the future. In addition to cultivating our own internal culture of innovation, we also bring disruptive ideas to market by combining INGs knowledge and network with the knowledge and skills of others. Im very proud of the major step in this direction that we took in 2019 with the opening of the Cumulus Park innovation district in Amsterdam Zuidoost, which is also where ING is located. This initiative of ING together with the city of Amsterdam and locally based educational institutions offers businesses, academics and innovators workspaces designed to co-create, learn, research and inspire in a collaborative atmosphere around the themes of urbanisation and digital identity. And through ING Labs in Amsterdam, Brussels, London and Singapore were also collaborating with fintechs and others on disruptive innovations in value spaces that best match the expertise and ecosystems in those locations. A safe and secure bank The easy, 24/7 access to financial services that digitalisation makes possible also poses challenges. The number of digital contact moments with customers is rising exponentially in 2019 they came to four billion for ING alone. This requires banks, which traditionally focus on financial risk management, to sharpen non-financial risk management skills in order to continue to play their crucial role as gatekeepers ensuring that the financial system is better protected from fraud and other criminal activities. At ING, this took the form of a continued focus in 2019 on our know your customer (KYC) enhancement programme. File enhancement and transaction monitoring look-back activities resulted in improved reporting of suspicious activities to authorities in various countries. Across ING we made progress raising awareness, improving the skills and behaviour of our staff and resolving issues in executing KYC procedures. And we also started implementing structural solutions to build sustainable KYC operations and made promising strides in pilots where we apply artificial intelligence, machine learning and other technologies to increase the efficiency and effectiveness of compliance and anti-money laundering procedures. I am convinced that mastering these skills will be vital for maintaining trust in the digital bank of the future. At the same time we welcome steps by authorities to achieve wider cooperation between banks, law enforcement and regulators on national and European levels to strengthen the resilience of the whole financial system when it comes to fighting financial economic crime. And we view continued progress on the Banking Union in Europe as important to achieve this cooperation. Along with the challenge of financial economic crime, increasing digitalisation presents many other challenges as well as opportunities in areas like digital identity, privacy, data exchange, code of conduct on data usage, and storage and protection of data. Many of these issues are addressed in various ways by regulators, governments and industry guidelines, but these are piecemeal measures and they struggle to keep up with the pace of developments. I see an increasing urgency to develop a data framework encompassing all these areas, particularly at the European level. At a time when digiitalisation is dissolving the boundaries between sectors, such a framework would promote innovation by establishing common standards that apply to all parties across industries. We stand ready to play our part in the discussions to develop this framework, which we believe would contribute significantly to a competitive digital environment in Europe. Performance Looking back at 2019, we see a year of solid commercial performance despite the challenging rate environment, geopolitical uncertainties and an increasingly complex and demanding regulatory environment. ING recorded a full-year 2019 net profit of 4,781 million, an increase of 1.7 percent year-on-year. The underlying net result, which in 2018 is excluding the settlement impact with the Dutch authorities and the net result from Insurance Other, dropped 11.3 percent. Net growth in our core lending book came to 17.2 billion, or 2.9 percent, and net growth in customer deposits was 23.4 billion in 2019. The lending growth was mainly realised in our retail markets, whereas net core ING Group Annual Report 2019 11 Contents | Report of the Executive Board | Corporate governance | Risk Management | Consolidated financial statements | Parent company financial statements | Other information | Appendices CEO statement lending growth in Wholesale Banking slowed. Underlying income increased 1.2 percent as pricing discipline and business growth, as well as higher net fee and commission income, helped counter the pressure of negative interest rates. We recorded a 4.5 percent rise in underlying expenses for 2019, which included a marked increase in regulatory costs, as well as higher costs related to our KYC enhancement programme. Risk costs increased, but remained below INGs through-the-cycle average. Based on the Stage 3 ratio and the total outstandings as earmarked at risk quality of the loan book improved in 2019. INGs full-year underlying return on equity declined to 9.4 percent, from 11.2 percent in 2018. The CET1 ratio remained strong at 14.6 percent, despite our having already taken part of the expected supervisory impact on risk-weighted assets in the fourth quarter of 2019. The Board proposes to pay a full-year 2019 cash dividend of 0.69 per ordinary share, subject to shareholder approval at the Annual General Meeting in April 2020. This is in line with our goal of paying a progressive dividend over time, while ING is committed to maintaining a CET1 ratio of around 13.5%, taking into account potential RWA inflation from regulatory developments. Going forward, ultra-low and negative interest rates, particularly in Europe, are challenging banks to maintain profitability as they try to mitigate the effects of lower rates on margins while balancing this with the interests of customers, particularly retail savings customers. At the same time, the economic stimulus effect is reversing as people save more to counter the impact of low rates on their savings and retirement goals. This makes it clear that new thinking is required from policymakers overseeing interest rate, spending and tax policies in order to keep the economy and financial sector on a sustainable footing. FY2019 ING Group net profit 4,781 million FY2019 underlying return on equity 9.4 % FY2019 net core lending 17.2 billion FY2019 net customer deposits 23.4 billion Financing a sustainable future The issue of climate change acquired increased urgency in 2019. At ING we strongly believe that through our decisions in conjunction with customers about what we will or wont finance, banks can play a role in influencing the direction and pace of societys transition to a more sustainable, low-carbon economy. It was therefore important for me on behalf of ING as a founding signatory to join more than 130 other banks from around the world in commiting to the Principles for Responsible Banking at the UN Climate Action Summit in New York. The principles encourage banks to align their strategies ING Group Annual Report 2019 12 Contents | Report of the Executive Board | Corporate governance | Risk Management | Con

2019-12-01 449页 5星级

思科Cisco Systems Inc.（CSCO）2019财年年度报告（英文版）（134页）.pdf

Defining the Future of the Internet 2019 Annual Report About Cisco Cisco (NASDAQ: CSCO) .

2019-12-01 134页 5星级

诺华公司Novartis（NVS）2019年年度报告（英文版）（343页）.pdf

Annual Report 2019 Annual Report 2019 I Chairmans letter Novartis delivered strong performance in 2019. New product launches together with a disciplined focus on costs and operational efficiency helped us in crease sales, operating income and operating profit margin. Looking ahead, we are well positioned to continue our growth trajectory as we pursue our goal of driving sci- ence-based medical innovation. With the successful spin-off of our former eye care divi- sion, Alcon, in early 2019, we concluded a major step in our portfolio transformation to create a more focused medicines company. We are active in disease areas with high un met needs and have a leading portfolio of highly innovative drugs, including recent ly launched breast can- cer therapy Piqray, eye care treatment Beovu, multiple sclerosis drug Mayzent, and our gene therapy Zolgensma for spinal muscular atrophy. Going forward, we continue to strive for business excel- lence across all our divisions and functions. We are con- tinually streamlining our business services and produc- tion platforms. We are also introducing innovative digital technologies to support our research, development and production efforts. As the digitization of our operations and the overall healthcare industry gains pace, we are also taking action to minimize cyber risks and protect patient data. As a global healthcare leader, we are working to spear- head cutting-edge medical development. Our recent moves in the areas of gene therapies, radioligand thera- pies and digital health reflect our position at the forefront of scientific discovery. To develop breakthrough thera- pies that can help change the practice of medicine, we are intent on attracting the best industry talent, collabo- rating with leading technology partners, and pursuing acquisitions to strengthen and expand high-tech therapy platforms. We have also established clear environmental, social and governance (ESG) targets for our management. With a view to reaching the highest international environmental standards, we aim to become carbon neutral by 2025, and plastic and water neutral by 2030, and have put pro- cesses in place to minimize the carbon footprint of our supply chain. Likewise, the implementation of our Access Principles is gaining pace with the approval of innovative medicines inlow- and middle-income countries, includ- ing migraine treatment Aimovig and cancer drug Kisqali. Although we still have work to do, we are also making good progress in efforts to enhance our integrity standards as part of a broader cultural transformation. In our strength- ened governance framework, our Ethics, Risk references to the “United States” or to “US” are to the United States of America, references to the “European Union” or to “EU” are to the European Union and its 28 member states, references to “Latin America” are to Central and South America, including the Caribbean, and references to “Australasia” are to Australia, New Zealand, Melanesia, Micronesia and Polynesia, unless the context otherwise requires; references to the “EC” are to the European Commission; references to “associates” are to employees of our affiliates; references to the “SEC” are to the US Securities and Exchange Commission; references to the “FDA” are to the US Food and Drug Administration; references to the “EMA” are to the European Medicines Agency, an agency of the EU, and references to the “CHMP” are to the Committee for Medicinal Products for Human Use of the EMA; references to “ADR” or “ADRs” are to Novartis American Depositary Receipts, and references to “ADS” or “ADSs” are to Novartis American Depositary Shares; references to the “NYSE” are to the New York Stock Exchange, and references to “SIX” are to the SIX Swiss Exchange; references to “ECN” are to the Executive Com- mittee of Novartis; references to “GSK” are to GlaxoSmithKline plc, references to “AAA” are to Advanced Acceler- ator Applications S.A., references to “AveXis” are to AveXis, Inc., references to “Endocyte” are to Endocyte, Inc., and references to “Takeda” are to Takeda Pharmaceutical Company Limited. All product names appearing in italics are trademarks owned by or licensed to Group companies. Product names identified by a “” or a “” are trademarks that are not owned by or licensed to Group companies and are the prop- erty of their respective owners. 5 Forward-looking statements Forward-looking statements This Annual Report contains certain forward-looking statements within the meaning of Section 27A of the Securi- ties Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the United States Private Securities Litigation Reform Act of 1995, as amended. Other written materials filed with or furnished to the SEC by Novartis, as well as other written and oral statements made to the public, may also contain forward-looking statements. Forward-looking statements can be identified by words such as “poten- tial,” “expected,” “will,” “planned,” “pipeline,” “outlook,” “may,” “could,” “would,” “anticipate,” “seek,” or similar terms, or by express or implied discussions regarding potential new products, potential new indications for existing prod- ucts, or regarding potential future revenues from any such products; or regarding the potential outcome, or finan- cial or other impact on Novartis, of the acquisition of The Medicines Company, the proposed divestiture of certain portions of our Sandoz Division business in the US, and other transactions described; or regarding the potential impact of share buybacks; or regarding potential future sales or earnings of the Group or any of its divisions or potential shareholder returns; or regarding potential future credit ratings of the Group; or by discussions of strat- egy, plans, expectations or intentions. Such forward-looking statements are based on the current beliefs and expec- tations of management regarding future events, and are subject to significant known and unknown risks and uncer- tainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. You should not place undue reliance on these statements. In particular, our expectations could be affected by, among other things: Global trends toward healthcare cost containment, including ongoing government, payer and general public pric- ing and reimbursement pressures and requirements for increased pricing transparency; Uncertainties regarding potential significant breaches of information security or disruptions of our information technology systems; Uncertainties regarding the success of key products and commercial priorities; Our ability to obtain or maintain proprietary intellectual property protection, including the ultimate extent of the impact on Novartis of the loss of patent protection and exclusivity on key products that commenced in prior years and is expected to continue this year; Uncertainties in the research and development of new healthcare products, including clinical trial results and additional analysis of existing clinical data; Regulatory actions or delays or government regulation generally, including potential regulatory actions or delays with respect to the proposed transactions or the development of the products described in this Annual Report; Uncertainties regarding actual or potential legal proceedings, including, among others, litigation and other legal disputes with respect to the proposed transactions, product liability litigation, litigation and investigations regard- ing sales and marketing practices, intellectual property disputes and government investigations generally; Our reliance on outsourcing key business functions to third parties; Our ability to comply with data privacy laws and regulations, and uncertainties regarding potential significant breaches of data privacy; Safety, quality, data integrity or manufacturing issues; Uncertainties in the development or adoption of potentially transformational technologies and business models; The potential that the strategic benefits, synergies or opportunities expected from our recent and proposed future transactions may not be realized or may take longer to realize than expected; Uncertainties involved in predicting shareholder returns; Our performance on environmental, social and governance measures; 6 Forward-looking statements Political, economic and trade conditions, including uncertainties regarding the effects of ongoing instability in var- ious parts of the world; Uncertainties regarding the effects of recent and anticipated future changes in tax laws and their application to us; Uncertainties regarding future global exchange rates; and Uncertainties regarding future demand for our products. Some of these factors are discussed in more detail in this Annual Report, including under “Item 3. Key Information Item 3.D. Risk factors,” “Item 4. Information on the Company,” and “Item 5. Operating and Financial Review and Prospects.” Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this Annual Report as anticipated, believed, estimated or expected. We provide the information in this Annual Report as of the date of its filing. We do not intend, and do not assume any obligation, to update any information or forward-looking statements set out in this Annual Report as a result of new information, future events or otherwise. Item 1. Identity of Directors, SeniorManagement and Advisers 7 PART I Item 1. Identity of Directors, SeniorManagement and Advisers Not applicable. Item 2. Offer Statistics and Expected Timetable 8 Item 2. Offer Statistics and Expected Timetable Not applicable. Item 3. Key Information 9 Item 3. Key Information 3.A Selected financial data The selected financial information set out below has been extracted from our consolidated financial state- ments prepared in accordance with IFRS as issued by the IASB. Our consolidated financial statements for the years ended December 31, 2019, 2018 and 2017, are included in “Item 18. Financial Statements” in this Form20-F. All financial data should be read in conjunction with “Item 5. Operating and Financial Review and Prospects.” All financial data presented in this Form20-F are quali- fied in their entirety by reference to the consolidated financial statements and their notes. Year ended December 31, (USD millions, except per share information) 2019 2018 2017 2016 2015 INCOME STATEMENT DATA1 Net sales to third parties from continuing operations 47445 44751 42338 41975 42641 Operating income from continuing operations 9086 8403 8702 8248 8522 Income from associated companies 659 6438 1108 703 266 Interest expense 850 932 750 675 637 Other financial income and expense 45 186 42 385 433 Income before taxes from continuing operations 8940 14095 9102 7891 7718 Taxes 1793 1295 1603 1095 1066 Net income from continuing operations 7147 12800 7499 6796 6652 Net (loss) / income from discontinued operations before gain on distribution of Alcon Inc. to Novartis shareholders 101 186 204 98 376 Gain on distribution of Alcon Inc. to Novartis AG shareholders 4691 Net income related to portfolio transformation transactions 10766 Net income from discontinued operations 4590 186 204 98 11142 Group net income 11737 12614 7703 6698 17794 Attributable to: Shareholders of Novartis AG 11732 12611 7703 6712 17783 Non-controlling interests 5 3 0 14 11 Basic earnings per share (USD) Continuing operations 3.12 5.52 3.20 2.86 2.77 Discontinued operations 2.00 0.08 0.08 0.04 4.63 Total 5.12 5.44 3.28 2.82 7.40 Diluted earnings per share (USD) Continuing operations 3.08 5.46 3.17 2.84 2.72 Discontinued operations 1.98 0.08 0.08 0.04 4.57 Total 5.06 5.38 3.25 2.80 7.29 Cash dividends2 6645 6966 6495 6475 6643 Cash dividends per share in CHF3 2.95 2.85 2.80 2.75 2.70 Personnel cost from continuing operations4, 5 13843 13515 12009 11950 11336 Full-time equivalent associates of continuing operations at year-end5 103914 104780 102467 99747 99624 1 Continuing operations include the businesses of the Innovative Medicines and Sandoz Divisions and Corporate activities. Discontinued operations include the Alcon business, which was divested in 2019; the Animal Health and Vaccines businesses divested in 2015; and the Consumer Health business, which was contributed also in 2015 into a new entity, GlaxoSmithKline Consumer Healthcare Holdings Ltd. (GSK Consumer Healthcare), where Novartis had a 36.5% interest. This newly created entity was sold during 2018 to GSK. To reflect these transactions, Novartis reported the Groups financial results for 2019 to 2015 as “continuing operations” and “discontinued operations,” as required by IFRS. 2 Cash dividends represent cash payments in the applicable year that generally relates to earnings of the previous year. 3 Cash dividends per share represent dividends proposed that relate to earnings of the current year. Dividends for 2015 through 2018 were approved at the respective AGMs, and dividends for 2019 will be proposed to the Annual General Meeting on February 28, 2020, for approval. 4 Personnel cost include wages, salaries, allowances, commissions and bonuses to staff, overtime, awards, holiday pay, severance payments and social welfare expenses. 5 Own employees. Item 3. Key Information 10 Year ended December 31, (USD millions) 2019 2018 2017 2016 2015 BALANCE SHEET DATA Cash, cash equivalents, and marketable securities and derivative financial instruments 11446 15964 9485 7777 5447 Inventories 5982 6956 6867 6255 6226 Other current assets 11235 11836 11856 10899 11172 Non-current assets 88866 110000 104871 105193 108711 Assets of disposal group held for sale1 841 807 Total assets 118370 145563 133079 130124 131556 Trade accounts payable 5424 5556 5169 4873 5668 Other current liabilities 22809 24000 18234 17336 18040 Non-current liabilities 34555 37264 35449 33024 30726 Liabilities of disposal group held for sale1 31 51 Total liabilities 62819 66871 58852 55233 54434 Issued share capital and reserves attributable to shareholders of Novartis AG 55474 78614 74168 74832 77046 Non-controlling interests 77 78 59 59 76 Total equity 55551 78692 74227 74891 77122 Total liabilities and equity 118370 145563 133079 130124 131556 Net assets 55551 78692 74227 74891 77122 Outstanding share capital 856 875 869 896 890 Total outstanding shares (millions) 2265 2311 2317 2374 2374 1 The disposal group held for sale relate to the assets and liabilities of the pending divestment of the Sandoz US dermatology business and generic US oral solids portfo

2019-12-01 343页 5星级

汇丰银行（HSBC）2019年年度报告（英文版）（334页）.pdf

HSBC Holdings plc Annual Report and Accounts 2019 Reported revenue by global business RBWM 41% CMB .

2019-12-01 334页 5星级

2019年年度报告 - 泰国中央银行（英文版）（108页）.pdf

ANNUAL REPORT 2019 Central Retail Corporation Public Company Limited Head Office Phone Company Websi.

2019-12-01 296页 5星级

非盈利机构LCDS2019-2020年度报告 - LCDS（英文版）（22页）.pdf

65 Years65 Years of LCDSof LCDS Annual Report 2019-2020 Nick Salaris,Executive Director Karen McClintock,Director of Organizational/Community Development Elizabeth Forman,Director of Human Resources, CHRL Tracie Bennett,Director of Finance Krista McCann,Director of Support Services 1 Mission Vision Values 2 A Message from the Executive Director just by being her and each of us better people for having known her. She will forever be missed and will always hold a special place in our hearts! K en had a heart of gold and was always willing to lend a helping hand. He had a close relationship with his Dad and enjoyed visiting him and sharing meals together. He was also close with his cousin Dianne and Aunt Edna. He was known around Oil Springs for his unique personality and his witty sense of humor. He could usually be found with his friends Dave, Chris, Al or Elmer. Ken worked on the Byers Farm for years. He enjoyed every second of it. From feeding and processing cattle, to working in the fields. He especially loved taking a tour and checking out the crops with a nice cold beverage. Ken worked side by side with Elmer and often said he was the farm supervisor. He enjoyed preparing for meals, serving and cleaning up. You could count on Ken to be there until the last dish was clean. Sundays were often spent at Als helping with yard work or organizing the garage, the fact that the reward at the end of it was a couple of those previously mentioned cold beverages was a definite bonus. Ken was a valued member of the Oil Springs Legion and Oil Springs Fire Hall. He is greatly missed in his community and will be forever missed by his friends here at LCDS. 5 CONTINUOUS IMPROVEMENT DATA THE NUMBERS BEHIND THE QUALITY AT LCDS Down Syndrome 24 DEMOGRAPHICS EFFECTIVENESS OF SERVICESSATISFACTION OF SERVICES Developmental Disability 122 Dementia 1 Autism 12 Anxiety Disorder 15 Age 66-85Age 41-65Age 18-40 5 71 65 FemaleMale 6279 Summary of Results: The Services Kevin Ireland, CPI Instructor and Colette McNairney, Myers Briggs (MBTI) Instructor, we are excited to be part of their facilitation journey and watch them grown in their new roles. LEARNING AND DEVELOPMENT VEHICLES Tell me and I forget, teach me and I may remember, involve me and I learn Benjamin Franklin DEPARTMENT HIGHLIGHTS 14 CELEBRATIONS ONE PERSON AT A TIME Carly and Theresa received the keys to their brand new home! Huge thank you to everyone involved in making this dream come true, especially Habitat for Humanity Sarnia Lambton. We are beyond grateful for our partnership and what you do for the community! Welcome home, girls! Bill and Dan volunteer at the Mobile Market. Kenya graduates high school! Alhambra Fun Day is always a great time with great friends. Mike is a member of the Canadian Motorcycle crusaders - Strathroy Chapter Sylvia fulfills her dream of learning to play the piano. She is taking lessons at a studio in Petrolia Tyson starts a new job at Marshalls in Sarnia Ride Into Summer is always a great time! 15 23rd Annual MPW-LCDS Charity Golf Tournament Widder Station, Thedford July 18, 2019 The LCDS-MPW Charity Golf Tournament was held at Widder Station on July 18, 2019 with a full tournament of 144 golfers. The tournament raised $20,000 for our Weekend Recreation Program. We are very thankful for our generous sponsors and continued support from the community. ENHANCING COMMUNITY ENGAGEMENT 2019-2020 10th Anniversary Fusion: A Discovery of Local Food, Wine and Craft Beer Degroots Nurseries, Sarnia November 8th Kel-Gor, CMS., and Monteith and Sutherland and the many volunteers who help. Fusion Committee: Karen McClintock, Eve Morgan, Dawn Krall, Carly Crul, Dan Tidball, Ineke MacKenzie, Ron Bourque, Elaina Burr, Andrew McClintock, Christina Fazio 16 LCDS-Pembina Valentine Charity Auction LCDS held its 21st Valentine Charity Auction on February 8th, 2020 at the Brigden Fairgrounds. Over 300 people were in attendance along with 50 volunteers on this cold winter day. John Stephens auctioned off over 150 live items while 70 items were bid on at the Silent Auction table. A Huge thank you to our title sponsor, Pembina and all other sponsors and generous donors who make this evening a huge success. LCDS held its annual Trivia night at the Petrolia Legion on May 2, 2019. $2,906 was raised. In addition to our signature and third-party events, LCDS engages in additional strategies to generate funds throughout the year. Funds raised through meat raffles, bingos, direct mail campaigns and grant applications have greatly improved the lives of the people we support and as the agency as a whole. On behalf of the LCDS Fund Development Department and the LCDS Foundation Board of Directors, we wish to express our utmost gratitude to all of our dedicated volunteers, sponsor and donors. Your generous contributions are vital in making our fundraising efforts successful! Thank you for helping us live our vision of Inclusive Communities Innovative Leaders. ENHANCING COMMUNITY ENGAGEMENT Tim Hortons Smile Cookie Campaign LCDS was very fortunate to receive the proceeds from the Tim Hortons Smile Cookie Campaign from Wyoming and Corunna locations September 16-20, 2019. $5,659 was raised for LCDS. Beer and Wing Night The Second Annual Beer and Wing Night was held at the Petrolia Lions Hall on September 12, 2019. A special thank you to all our sponsors and the Petrolia Lions for helping make this event a huge success! “We make a living by what we get, but we make a life by what we give.” Winston Churchill 17 T he LCDS Foundation Board of Directors continues to develop Fundraising and Fund Development policies, plans and guidelines. The LCDS Foundation is a separate entity from LCDS and carries out fundraising and fund development activities to raise funds exclusively to support the ongoing mission of LCDS. LCDS FOUNDATION REPORT 2019-2020 FUNDRAISING (APRIL 1, 2019- MARCH 31, 2020) General Donations$15,445 In Memorial$4,797 Staff Donations$3,995 Trivia Night$2,906 Golf Tournament$20,000 Beer & Wing Night$1,743 Smile Cookie Campaign$5,659 Fusion$100,000 Valentine Charity Auction$50,000 In Kind Donations$29,683 The fundraising Department wishes to thank this network of dedicated community members for their willingness to work with us and engage in strengthening our financial sustainability through Fundraising! Foundation requests approved this year include: Therapeutic Bath Tub Funding for Weekend Recreation Portable Weight Scale Heat Exchanger Ricksycle Wall Oven LCDS FOUNDATION REPORT 18 64TH ANNUAL GENERAL MEETING MINUTES Monday, June 17, 2019 at 5:00 pm Petrolia Lions Hall 451 Huggard Street, Petrolia 1. Call to order: The 64th Annual General Meeting of Lambton County Developmental Services, held on June 17, 2019, was called to order by Nick Salaris at 5:05 pm 2. Welcome by Executive Director, Nick Salaris: Nick welcomed members and guests of LCDS and opened the meeting with Frank Backx reading the Prayer. Nick introduced our special guests. Bob Bailey Sarnia-Lambton MPP who brought greetings from the Province. Lonny Napper, Mayor of Plympton-Wyoming, brought greetings from the County of Lambton Council. 3. Minutes of 2018 Annual General Meeting, held June 18, 2018 Nick Salaris on behalf of Greg Bond presented the minutes of the 2018 Annual General Meeting of Lambton County Developmental Services. Moved by: Nick Salaris Seconded by: Helen Ollerenshaw That the minutes of the June 18, 2018 Annual Meeting of Lambton County Developmental Services, be accepted as presented. Carried 4. Annual Written Reports: Copies of the LCDS Annual Report were made available to members and guests upon arrival. Moved by: Orrin Farr Seconded by: Gordon Bregman “that the 2018-2019 Annual Report be accepted for information”. Carried 5. Financial Reports Nick Salaris stated that the financial statements for the year ending March 31, 2019 were audited by MPW Chartered Professional Accountants, and that copies of the audited statements were available for anyone that wished one. 6. Treasurers Report presented by Frank Backx Nick Salaris called upon Frank Backx to read the Treasurers Report. On behalf of the Board of Lambton County Developmental Services, I would like to report on the 2018-19 fiscal year. The audited statements, was prepared by MPW Chartered Professional Accountants, and are available for your review. Once again, this year presented many financial challenges as costs continue to increase without any changes to our base funding. LCDS dealt with the increasing costs of maintaining aging homes and vehicle fleet. LCDS staff worked hard to ensure that support services to our clientele were maintained despite these challenges. We were fortunate to be able to take advantage of MCCSS Stabilization Funding to have some much needed work completed. Some of the highlights include renovations at Ann, Ontario, John, Lovell, First Ave duplex, and Zone St., lift installation and repairs at many of our locations, and numerous other unexpected expenses. I would like to thank the Foundation for all their fundraising efforts. November 2019 Fusion generated a profit of $84,307, Fusion continues to grow and tickets sell out within hours of becoming available to the public. In addition there were many other fundraisers, some of which are highlighted in the annual report. Thank you to everyone who supported these endeavors. Through the generosity of the Foundation, we were able to make many purchases this year. Some of the purchases included: funding for the Weekend Recreation Respite Program, and Christmas gifts for the people we support, and a new agency vehicle being utilized at John St., in Watford I would like to thank the Director of Finance, Tracie Bennett, the Finance staff and the Administration of LCDS for their commitment and dedication and I look forward to another good year. Moved by: Frank Backx Seconded by: Barb Frayne “that the treasurers report and the audited financial statements for the year ending March 31, 2019 be accepted”. Carried 7. Appointment of Auditors: Moved by: Frank Backx Seconded by: Helen Ollerenshaw “that the firm of MPW Chartered Professional Accountants be appointed as the auditors for the 2019/2020 year”. Carried 8. Approval of Actions of the Board for 2018-2019: In accordance with the Corporations Act, this motion is required to be kept on record. Moved by: Barb Frayne Seconded by: Kelly Butler “that the actions of the Board of Directors of Lambton County Developmental Services, for the period April 1, 2018 to March 31, 2019, be approved”. Carried 9. Nominating Committee Report Nick Salaris read the Nominating Committee Report on behalf of Frank Huybers. The Nominating Committee of the LCDS Board of Directors is comprised of: Chair Frank Huybers Board Member Jim Burns Executive Director Nick Salaris 19 64TH ANNUAL GENERAL MEETING MINUTES The Nominating Committee is pleased to bring forth the following names for consideration as new Board Members on the LCDS Board of Directors: John Douglas Rose Vandenberg According to Agency By-laws, a composition of 12 Board Members constitutes a full slate. Please see below for the updated LCDS Board list with years of service and time remaining on their term as a Director on the LCDS Board: Kathy Alexander 1 year (2 years remaining on her first three-year term) *Frank Backx (Treasurer) 9 years (final year of this third three-year term) Greg Bond (Secretary) 8 years (1 year remaining on his third three- year term) Gordon Bregman 5 years (1 year remaining on his second three- year term) Jim Burns 1 year (2 years remaining on his first three-year term) Kelly Butler 6 years (able to stand for nomination for another three- year term) Jill Cousins - 1 year (2 years remaining on her first three-year term) Walt Farr - 1 year (2 years remaining on his first three-year term) Barb Frayne 2 years (1 year remaining on her first three-year term) Frank Huybers (President) 5 years (1 year remaining on his second three-year term) Helen Ollerenshaw 7 years (2 years remaining on her third three-year term) *Danielle Ireland (Employee Representative) 1 year (2 years remaining on three-year term) *denotes term expiring Respectfully Submitted, Frank Huybers President LCDS Board of Directors/Chair Nominating Committee 10. Election of Directors Nick Salaris stated that “according to the Agency By-Laws, there were no more nominations as of May 17, 2019 to the Agency Board and therefore, nominations are closed at this time. At this time Nick asked all the Board Members to stand as he introduced each of them. Moved by: Orrin Farr Seconded by: Walt Farr “that the slate of officers for the Lambton County Developmental Services Board of Directors for 2018-2019 be approved as presented”. Carried 11. Installation of Directors The Installation of the Board of Directors of Lambton County Developmental Services was read by Nick Salaris. Nick Salaris introduced the new Board Members and all existing Board Members that were present. He announced that following the adjournment of the Annual Meeting, the Board Members would meet briefly to discuss the Officer appointments to the Board. The list of Board members and Officers will be posted on the LCDS Website. 12. Message from President Frank Huybers was unable to attend the LCDS AGM. No message was delivered. 13. Update from Executive Director Nick Salaris reflected on the past year. Nick expressed his thanks to the Board of Directors, Foundation Board, volunteers and employees for all of their hard work and dedication to the people we support. Nick also Thanked Tom McCallum for his patience and support while he was getting acclimated to his new role as Executive Director. 14. Other Business No other business was brought forward. 15. Presentations: Nick Salaris called upon retiring board member Frank Backx. Frank is retiring from the Board after serving 9 years with the LCDS Board of Governors. Nick thanked Frank for his dedication and service with LCDS and presented him with a gift of appreciation. 16. Adjournment: Nick Salaris called for a “Motion of Adjournment of the 64th Annual Meeting of Lambton County Developmental Services”. Moved by: Orrin Farr Seconded by: Bob Tanner “that the 64th Annual Meeting of Lambton County Developmental Services be adjourned”. Carried 17. Thank you for Attending: Nick Salaris thanked everyone for attending and invited them to stay for the Volunteer and Donor Recognition Barbecue following the meeting. The Board Members were then asked to meet briefly in the Board Room to discuss the Officers appointments. Minutes recorded by: Marcia Stinson, Recording Secretary 20 LCDS FINANCIALS REVENUE & EXPENDITURES SUMMARY MARCH 31, 2020 REVENUE MCSS Subsidy12,007,272$ Other Grants & Subsidies260,864$ Sales - Petrolia Enterprises190,705$ Rental Income382,283$ Other Income302,563$ TOTAL REVENUE13,143,687$ EX

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