Gates Foundation loses in China's A-share market

16:58, May 12, 2010      

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In the first quarter of 2010, Bill and Melinda Gates Foundation appeared in the lists of top 10 holders of circulating shares in five listed companies' quarterly financial reports. By May 11, shares of the five companies declined 15 percent on average.

The Bill and Melinda Gates Foundation, founded by Bill Gates and his wife Melinda Gates in 2000, is one of the largest charity foundations in the world. It was approved to invest in shares and bonds in China in July, 2004.

The foundation appeared in the financial reports for the first quarter of five listed companies for the first time. Shares held by the Gates Foundation declined an average of 15 percent. Among its investment in the five companies, Financial Street Holding Co., Ltd. declined most heavily. Over 24 percent of investment failed with the adjustment of realty industry.

The Gates Foundation appeared in the the financial reports of top 10 circulation shareholders of China Railway Group Limited in the first quarter of 2010. On May 11, China Railway slumped again, hitting the lowest point since November 2008. As the shareholder of China Railway, the Gates Foundation also suffered a lot from it. In calculation with the average price of 5.89 yuan for China Railway in Q1, the foundation has had a floating loss of nearly 20 percent on the share of China Railway.

Three of total five companies posted bad news in the first quarter. The foundation appeared in the financial report in Q1 of Financial Street Holding for the first time, holding 17.88 million shares of the company. The company also reported 40 percent of net profit decline, and that it had no new housing investment during the period.

The Gates Foundation entered China's A-share market in 2004. The shares held by the foundation had no good performance during its six years in China.

By the end of the first quarter, the Gates Foundation is the shareholder of 12 listed companies. All these companies are operational in traditional sectors, including construction materials, paper making, bio-pharmacy industry.

Market analysts believed that the Gates Foundation's operation style was conservative, whose investment tendency inclined to the companies with monopoly resources like consumer goods, raw materials and public utilities.

By People's Daily Online

(Editor:黄硕)

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