不說不知，萬裕(894) (一間香港公司)己擠身全球第五大的鋁電解電容器製造商(Aluminum Electrolytic Capacitor)。
有趣的是，頭四大的製造商全部都是日本公司。
Capacitor 原理好簡單 (Form 4 有得讀)，好平，是Lab Tech 隨手棄掉的東西，照常理估計，這個市場應早被台灣或大陸公司佔領，沒想到日本仍穩佔大半江山。
要找出頭四大的鋁電解電容器製造商，就要看萬裕2007 年的年報：
http://www.manyue.com/upload/reports/2007_ir.pdf
1. Nippon Chemi-con
2. Nichi-con
3. Rubycon
4. Panasonic
Friday, January 8, 2010
Thursday, December 31, 2009
Laundry Care
There seems to be 3 major set of Laundry Care symbols:
1) US FTC,
2) Europe GINETEX
3) Japan
US: the Laundry Care Symbols are Regulated by the Federal Trade Commission (FTC)
http://www.ftc.gov/bcp/edu/pubs/consumer/products/pro25.pdf
1) US FTC,
2) Europe GINETEX
3) Japan
US: the Laundry Care Symbols are Regulated by the Federal Trade Commission (FTC)
http://www.ftc.gov/bcp/edu/pubs/consumer/products/pro25.pdf
Europe: the standard is managed by GINETEX. Labelling is voluntary!
http://www.ginetex.net/labelling/care-labelling/care-symbols/
http://www.ginetex.net/files/pdf/symboltabelle-e-neu.pdf
Apart from Laundry, the Federal Trade Commission also published definitions on Names of Fabrics
http://www.ftc.gov/os/statutes/textile/rr-textl.htm
Some Usage Tips:
http://www.household-management-101.com/laundry-symbols.html
Some descriptions on the GINETEX symbols:
http://www.epa.gov/dfe/pubs/garment/apparel/10krues.pdf
Saturday, November 28, 2009
Man-cession
[US] September 2009, the unemployment rate was 9.6 percent for men and 7 percent for women; men have had a higher unemployment rate than women for the last 32 consecutive months
US Bureau of Labour Statistics:
Table A-1. Employment status of the civilian population by sex and age
http://www.bls.gov/news.release/empsit.t01.htm
對於美國，這是較新的現象。至於香港呢？不單只一樣，而且己經是連續五年了...(>60 consecutive months) 。SARS 時，差別最明顯。
http://www.censtatd.gov.hk/hong_kong_statistics/statistical_tables/index.jsp?charsetID=1&tableID=011
http://www.censtatd.gov.hk/hong_kong_statistics/statistical_tables/index.jsp?tableID=014
http://www.censtatd.gov.hk/products_and_services/products/thematic_long_list/labour/index.jsp
資料來源：香港政府統計處 - 香港統計月刊...
(備注：未能於網上找到2003年之前的數字。我估計自1998年開始，男士失業率己是高於女性。)
值得注意(或學習)的是，美國經濟學家很快就提出這現象。
Related articles:
http://mjperry.blogspot.com/2009/08/great-mancession-continues.html
http://economix.blogs.nytimes.com/2009/08/10/the-mancession/
http://blogs.reuters.com/columns/2009/10/06/the-myth-of-the-man-cession/
http://www.reuters.com/article/deborahCohen/idUSN2149900520091021
http://hk.apple.nextmedia.com/template/apple/art_main.php?iss_id=20090608&sec_id=15335&art_id=12851058
US Bureau of Labour Statistics:
Table A-1. Employment status of the civilian population by sex and age
http://www.bls.gov/news.release/empsit.t01.htm
對於美國，這是較新的現象。至於香港呢？不單只一樣，而且己經是連續五年了...(>60 consecutive months) 。SARS 時，差別最明顯。
http://www.censtatd.gov.hk/hong_kong_statistics/statistical_tables/index.jsp?charsetID=1&tableID=011
http://www.censtatd.gov.hk/hong_kong_statistics/statistical_tables/index.jsp?tableID=014
http://www.censtatd.gov.hk/products_and_services/products/thematic_long_list/labour/index.jsp
資料來源：香港政府統計處 - 香港統計月刊...
(備注：未能於網上找到2003年之前的數字。我估計自1998年開始，男士失業率己是高於女性。)
值得注意(或學習)的是，美國經濟學家很快就提出這現象。
Related articles:
http://mjperry.blogspot.com/2009/08/great-mancession-continues.html
http://economix.blogs.nytimes.com/2009/08/10/the-mancession/
http://blogs.reuters.com/columns/2009/10/06/the-myth-of-the-man-cession/
http://www.reuters.com/article/deborahCohen/idUSN2149900520091021
http://hk.apple.nextmedia.com/template/apple/art_main.php?iss_id=20090608&sec_id=15335&art_id=12851058
Tuesday, November 24, 2009
Casualties of 2008 Tsunami - Iceland and.... Dubai!
今次金融海嘯，最傷應數冰島。
一年過後，餘患未消； 連麥記都要全面徹退!!
己發展國家之中，我估只有冰島才將會無麥記，Big Mac Index 點算好？
http://edition.cnn.com/2009/BUSINESS/10/27/iceland.mcdonalds/index.html
冰島出事較多人知，原來其次者，要數杜拜!!
它在UAE的獨立地位己成疑問...
http://www.bloomberg.com/apps/news?pid=20601109&sid=a.2e8IrtpImE&pos=12
http://www.reuters.com/article/reutersEdge/idUSTRE4AN4LG20081124
Home prices are down more than 50 percent from their peak in the third quarter of 2008, Deutsche Bank AG said on Nov. 5. Prices may drop as much as 30 percent more, UBS AG said Nov. 18.
Sheikh Mohammed in February turned to Abu Dhabi, holder of the world’s sixth-largest crude reserves, for a $10 billion bailout. The central bank, which has its headquarters in the country’s capital of Abu Dhabi, bought the entire bond issue.
Dubai is seeking an extra injection of $10 billion by the end of the year, Sheikh Ahmed bin Saeed Al-Maktoum, chairman of the emirate’s Supreme Fiscal Committee, said Nov. 16. The bond would get “majority government” participation, Mohammed Ali Alabbar, chairman of Emaar Properties PJSC and a member of the Dubai Executive Council, said Oct. 9.
The renewed financial lifeline comes as Dubai and its state-owned companies have to repay $15.8 billion of bonds and loans maturing this year, $9.2 billion in 2010, $19.8 billion in 2011 and $17.3 billion the following year, according to a Deutsche Bank AG report in August.
Dubai’s $80 billion debts are equivalent to 100 percent of the city-state’s 2008 gross domestic product and nine times its 2008 revenue, according to Moody’s.
一年過後，餘患未消； 連麥記都要全面徹退!!
己發展國家之中，我估只有冰島才將會無麥記，Big Mac Index 點算好？
http://edition.cnn.com/2009/BUSINESS/10/27/iceland.mcdonalds/index.html
冰島出事較多人知，原來其次者，要數杜拜!!
它在UAE的獨立地位己成疑問...
http://www.bloomberg.com/apps/news?pid=20601109&sid=a.2e8IrtpImE&pos=12
http://www.reuters.com/article/reutersEdge/idUSTRE4AN4LG20081124
Home prices are down more than 50 percent from their peak in the third quarter of 2008, Deutsche Bank AG said on Nov. 5. Prices may drop as much as 30 percent more, UBS AG said Nov. 18.
Sheikh Mohammed in February turned to Abu Dhabi, holder of the world’s sixth-largest crude reserves, for a $10 billion bailout. The central bank, which has its headquarters in the country’s capital of Abu Dhabi, bought the entire bond issue.
Dubai is seeking an extra injection of $10 billion by the end of the year, Sheikh Ahmed bin Saeed Al-Maktoum, chairman of the emirate’s Supreme Fiscal Committee, said Nov. 16. The bond would get “majority government” participation, Mohammed Ali Alabbar, chairman of Emaar Properties PJSC and a member of the Dubai Executive Council, said Oct. 9.
The renewed financial lifeline comes as Dubai and its state-owned companies have to repay $15.8 billion of bonds and loans maturing this year, $9.2 billion in 2010, $19.8 billion in 2011 and $17.3 billion the following year, according to a Deutsche Bank AG report in August.
Dubai’s $80 billion debts are equivalent to 100 percent of the city-state’s 2008 gross domestic product and nine times its 2008 revenue, according to Moody’s.
Monday, November 23, 2009
China's Glass Industry landscape...
之前看過別人的blog, 發現美國對玻璃市場的反傾銷是因個別公司而異的。http://accountboyhk.mysinablog.com/index.php?op=ViewArticle&articleId=1079134
近日想拿來做個例子，引發我做點研究：
2001年中國入世，向中國玻璃業徵收反傾銷稅。信義玻璃及福耀玻璃連同其他數間公司提出反對。
連續打了6年官司，到2007才有最後判決，取消對福耀玻璃及信義玻璃徵收反傾銷稅，對耀皮玻璃及Benxun...徵收1.47% 反傾銷稅， 對中國其他公司徵收124.50%反傾銷稅。
這個判決製基本上造了一個Oligopoly....其實，再看這幾年間的暫收反傾銷稅率，competition landscape可能一早己經形成了!!
信義玻璃(868)，如今己成為國內第二大玻璃製造商，僅次於A股上市的福耀玻璃。
http://www.hktdc.com/info/mi/a/baus/en/1X00NZ21/1/Business-Alert-%E2%80%93-US/AD-Notices.htm
Manufacturers/ Exporters Weighted-Average
Dumping Margin
Fuyao Glass Industry Group Co, Ltd 9.79%
Xinyi Automotive Glass (Shenzhen) Co Ltd 0.05%
Shenzhen Benxun Auto-Glass Co, Ltd 9.79%
TCG International Inc 9.79%
Wuhan Yaohua Pilkington Safety Glass 9.79%
Changchun Pilkington Safety Glass Ltd 9.79%
Guilin Pilkington Safety Glass Co Ltd 9.79%
China-wide 124.50%
http://ia.ita.doc.gov/frn/2002/0204frn/02-8166.txt
Automotive Replacement Glass Windshields
------------------------------------------------------------------------
Producer/Manufacturer/Exporter Weighted-Average Margin
------------------------------------------------------------------------
FYG............................................ 11.80%
Xinyi.......................................... 3.71%
Benxun......................................... 9.84%
Changchun...................................... 9.84%
Guilin......................................... 9.84%
Wuhan.......................................... 9.84%
TCGI........................................... 9.84%
China-Wide..................................... 124.50%
------------------------------------------------------------------------
http://edocket.access.gpo.gov/2007/pdf/E7-21876.pdf
As the litigation in this case has concluded, the Department is amending the Final Determination to reflect the results of our third remand determination. The revised dumping margin in the amended final determination is as follows:
Exporter Margin (percent)
Xinyi Automotive Glass (Shenzhen) Co., Ltd. ............. 0.00
The PRC–wide rate continues to be 124.5 percent as determined in the Department’s Final Determination.
http://edocket.access.gpo.gov/2007/pdf/E7-23961.pdf
Exporter Margin
Changchun Pilkington Safety Glass, Co.,Ltd,.
Guilin Pilkington Safety Glass Co., Ltd.,.
Wuhan Yaohua Pilkington Safety Glass Co., Ltd. .......... 1.47 percent
Shenzhen Benxun Automotive Glass Co.,Ltd. ............................ 1.47 percent
The PRC–wide rate continues to be 124.5 percent as determined in the Department’s Final Determination.
近日想拿來做個例子，引發我做點研究：
2001年中國入世，向中國玻璃業徵收反傾銷稅。信義玻璃及福耀玻璃連同其他數間公司提出反對。
連續打了6年官司，到2007才有最後判決，取消對福耀玻璃及信義玻璃徵收反傾銷稅，對耀皮玻璃及Benxun...徵收1.47% 反傾銷稅， 對中國其他公司徵收124.50%反傾銷稅。
這個判決製基本上造了一個Oligopoly....其實，再看這幾年間的暫收反傾銷稅率，competition landscape可能一早己經形成了!!
信義玻璃(868)，如今己成為國內第二大玻璃製造商，僅次於A股上市的福耀玻璃。
http://www.hktdc.com/info/mi/a/baus/en/1X00NZ21/1/Business-Alert-%E2%80%93-US/AD-Notices.htm
Manufacturers/ Exporters Weighted-Average
Dumping Margin
Fuyao Glass Industry Group Co, Ltd 9.79%
Xinyi Automotive Glass (Shenzhen) Co Ltd 0.05%
Shenzhen Benxun Auto-Glass Co, Ltd 9.79%
TCG International Inc 9.79%
Wuhan Yaohua Pilkington Safety Glass 9.79%
Changchun Pilkington Safety Glass Ltd 9.79%
Guilin Pilkington Safety Glass Co Ltd 9.79%
China-wide 124.50%
http://ia.ita.doc.gov/frn/2002/0204frn/02-8166.txt
Automotive Replacement Glass Windshields
------------------------------------------------------------------------
Producer/Manufacturer/Exporter Weighted-Average Margin
------------------------------------------------------------------------
FYG............................................ 11.80%
Xinyi.......................................... 3.71%
Benxun......................................... 9.84%
Changchun...................................... 9.84%
Guilin......................................... 9.84%
Wuhan.......................................... 9.84%
TCGI........................................... 9.84%
China-Wide..................................... 124.50%
------------------------------------------------------------------------
http://edocket.access.gpo.gov/2007/pdf/E7-21876.pdf
As the litigation in this case has concluded, the Department is amending the Final Determination to reflect the results of our third remand determination. The revised dumping margin in the amended final determination is as follows:
Exporter Margin (percent)
Xinyi Automotive Glass (Shenzhen) Co., Ltd. ............. 0.00
The PRC–wide rate continues to be 124.5 percent as determined in the Department’s Final Determination.
http://edocket.access.gpo.gov/2007/pdf/E7-23961.pdf
Exporter Margin
Changchun Pilkington Safety Glass, Co.,Ltd,.
Guilin Pilkington Safety Glass Co., Ltd.,.
Wuhan Yaohua Pilkington Safety Glass Co., Ltd. .......... 1.47 percent
Shenzhen Benxun Automotive Glass Co.,Ltd. ............................ 1.47 percent
The PRC–wide rate continues to be 124.5 percent as determined in the Department’s Final Determination.
Sunday, November 15, 2009
Earliest Asset-Backed Securities?
Erlanger Bonds:
The Confederates needs funds to finance the Civil War, but faces difficulty attracting investors in Europe. There is little trust in its currency.
The French banking house of Emile Erlanger & Company underwrite a bond (known as "Erlanger Bond") priced at 7 percent. The Erlanger Bond was issued in five European cities -- London, Liverpool, Paris, Amsterdam and Frankfurt -- on March 19, 1863 and raised £1,759,894 ($8,535,486). These bonds were printed in four denominations : £100 (Fr2,500 or 4000 lb of cotton), £200 (Fr5,000 or 8,000 lb of cotton), £500 (Fr12,500 or 20,000 lb) and £1,000 (Fr25,000 or 40,000 lb). The bonds sold at 90% of face value, and were redeemable for Confederate government-owned cotton in the Confederacy itself.
At the time cotton was worth twenty-four pence a pound, and the Erlanger loan made cotton available to holders at six pence per pound.
Erlanger cotton bonds was oversubscribed at the time!
However, bond price quickly plunged as news of Confederates defeat at Gettysburg July 1–3, 1863, reached Europe...
http://www.britannica.com/EBchecked/topic/191662/Erlanger-Loan
http://mshistory.k12.ms.us/articles/291/cotton-and-the-civil-war
http://www.scripophily.net/costofamb15.html
The Confederates needs funds to finance the Civil War, but faces difficulty attracting investors in Europe. There is little trust in its currency.
The French banking house of Emile Erlanger & Company underwrite a bond (known as "Erlanger Bond") priced at 7 percent. The Erlanger Bond was issued in five European cities -- London, Liverpool, Paris, Amsterdam and Frankfurt -- on March 19, 1863 and raised £1,759,894 ($8,535,486). These bonds were printed in four denominations : £100 (Fr2,500 or 4000 lb of cotton), £200 (Fr5,000 or 8,000 lb of cotton), £500 (Fr12,500 or 20,000 lb) and £1,000 (Fr25,000 or 40,000 lb). The bonds sold at 90% of face value, and were redeemable for Confederate government-owned cotton in the Confederacy itself.
At the time cotton was worth twenty-four pence a pound, and the Erlanger loan made cotton available to holders at six pence per pound.
Erlanger cotton bonds was oversubscribed at the time!
However, bond price quickly plunged as news of Confederates defeat at Gettysburg July 1–3, 1863, reached Europe...
http://www.britannica.com/EBchecked/topic/191662/Erlanger-Loan
http://mshistory.k12.ms.us/articles/291/cotton-and-the-civil-war
http://www.scripophily.net/costofamb15.html
Monday, November 9, 2009
電纜發聲 - corona discharge
During a short hiking trip yesterday, we've heard loud buzzling sound as we move by electric trsnsmission cables. Quick Research Findings:
http://en.wikipedia.org/wiki/Corona_discharge
Problems caused by corona discharges
Coronas can generate audible and radio-frequency noise, particularly near electric power transmission lines. They also represent a power loss, and their action on atmospheric particulates, along with associated ozone and NOx production, can also be disadvantageous to human health where power lines run through built-up areas. Therefore, power transmission equipment is designed to minimise the formation of corona discharge. Corona discharge is generally undesirable in:
Electric power transmission, where it causes:
Power loss
Audible noise
Electromagnetic interference
Purple glow
Ozone production
Insulation damage
The strong electric field at the surface of a high voltage power line conductor ionizes the nearby air and causes a partial breakdown of its dielectric strength. The audible noise you hear is caused by the local sound-pressure level changes due to the individual corona discharges that in turn occur as part of electron avalances. During wet weather the noise level is much higher due to the presence of drops of water on the underside of the conductors. These weather drops break up and the departing portions cause discharges in the water-to-water gap.
Research by Hitachi Cable
http://www.hitachi-cable.co.jp/ICSFiles/afieldfile/2005/11/28/review02.pdf
CORONA NOISE
Actual state of corona noise
Corona noise occurs under rainfall and snowfall and comprises two sound components: one is irregular (random noise) sound, and the other is the pure sound (corona hum
noise) of“buzzing”.
The random sound has a wide frequency band because the impulsive sounds caused by corona discharge overlap randomly. The corona hum noise results from the excitation of ion groups, which was generated from corona discharge, caused by the electric field surrounding the conductors. The predominant frequency of the corona hum noise is double (100 Hz or 120 Hz) the commercial frequency.
http://en.wikipedia.org/wiki/Corona_discharge
Problems caused by corona discharges
Coronas can generate audible and radio-frequency noise, particularly near electric power transmission lines. They also represent a power loss, and their action on atmospheric particulates, along with associated ozone and NOx production, can also be disadvantageous to human health where power lines run through built-up areas. Therefore, power transmission equipment is designed to minimise the formation of corona discharge. Corona discharge is generally undesirable in:
Electric power transmission, where it causes:
Power loss
Audible noise
Electromagnetic interference
Purple glow
Ozone production
Insulation damage
The strong electric field at the surface of a high voltage power line conductor ionizes the nearby air and causes a partial breakdown of its dielectric strength. The audible noise you hear is caused by the local sound-pressure level changes due to the individual corona discharges that in turn occur as part of electron avalances. During wet weather the noise level is much higher due to the presence of drops of water on the underside of the conductors. These weather drops break up and the departing portions cause discharges in the water-to-water gap.
Research by Hitachi Cable
http://www.hitachi-cable.co.jp/ICSFiles/afieldfile/2005/11/28/review02.pdf
CORONA NOISE
Actual state of corona noise
Corona noise occurs under rainfall and snowfall and comprises two sound components: one is irregular (random noise) sound, and the other is the pure sound (corona hum
noise) of“buzzing”.
The random sound has a wide frequency band because the impulsive sounds caused by corona discharge overlap randomly. The corona hum noise results from the excitation of ion groups, which was generated from corona discharge, caused by the electric field surrounding the conductors. The predominant frequency of the corona hum noise is double (100 Hz or 120 Hz) the commercial frequency.
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