
COMPANY INTRODUCE
China Hongyang Group, is an integrated enterprise with the research & development, production and marketing of Fuel Dispenser and related accessories as well as service station concerning equipments. It concentrates on the relative manufacture & services of filling station such as Hongyang tax control Fuel dispenser, IC Card fuel dispenser, manage system of network for stations, submerge pump and liquid level devise. China Hongyang Group, designed supplier of SinoPec and PetrolChina, our HONGYANG products have been sold to over 50 countries in South-east Asia, Mid-east, Africa, Europe and well received in their markets.
we are committed to create the best workplace, encourage our staffs to put their own personalities into their jobs, and provide them a stage to show themselves.
About sponsorship
Private equity
Seeking an exit
Jun 22nd 2006
From The Ec fuel dispenser onomist print edition
A golden era for buy-out funds may be drawing to an end
PRIVATE-EQUITY firms have been enjoying heady times. Their funds have been making eye-popping
returns, deals have kept getting bigger and investors have poured in buckets of money. Yet there is a
growing sense among fund managers that the bountiful era is drawing to a close. Competition is up,
market conditions are less favourable, investors are more demanding and regulators are watching the
industry closely.
Given the strong showing in recent years, “it would be impossible to expect similar levels of return over
the next five-year peri fuel dispenser od,�says John Barber, head of private equity for Citibank Alternative Investments.
Thomson Financial s American private-equity index rose by 22.6% in 2005, compared with a 7.1% return
in Greenwich-Van s American hedge-fund barometer. But those super returns were based on ideal
conditions a strong economy, low interest rates and rising stockmarkets in which to sell their
investments.
Now, with interest rates up and stockmarkets down, the outlook is different. There are worries about
rising debt levels at some private-equity firms, driven, in part, by high-risk loans from hedge funds.
“Deals have been good due to the gap between the borrowing cost and the yield,�says Nicholas
Ferguson, chairm fuel dispenser an of SVG Capital, which invests in private-equity funds. But “the gap is narrowing� As
a result, he adds, there is “a squeeze�coming on pricing. A growing number of fund managers suggest it
is a good time for funds to sell some of their holdings through routes other than the stockmarket.
The shift in sentiment has accelerated in recent months. Kohlberg Kravis Roberts (KKR) was successful
with its $5 billion fund flotation (a first) near the stockmarket peak earlier this year. But when Apollo
Management tried a similar offering more recently, it s