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拷貝至:
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傑伊·L·伯恩斯坦(Jay L.Bernstein),Esq.
傑克·A·法克哈森(Jack A.Farquharson),Esq. Jason W.Parsont,Esq. Clifford Chance US LLP 西52街31號 紐約,紐約10019 電話(212)878-8000 傳真(212)878-8375 |
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小理查德·D·特魯斯代爾(Richard D.Truesdell,Jr.)先生
佩德羅·J·貝梅奧(Pedro J.Bermeo),Esq. Davis Polk&Wardwell LLP 列剋星敦大道450號 紐約,紐約10017 電話(212)450-4000 傳真(212)701-5800 |
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大型加速文件服務器☐
|
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新興成長型公司
|
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加速文件管理器☐
|
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非加速文件服務器☐
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較小的報告公司☐
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證券名稱
待註冊 |
| |
建議的最大值
聚合產品 價格(1)(2) |
| |
金額
註冊費(1) |
|
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A類普通股,每股面值0.001美元
|
| | | | | | |
| | |
第
頁
|
| |||
招股説明書摘要
|
| | | | 5 | | |
產品
|
| | | | 22 | | |
風險因素
|
| | | | 26 | | |
前瞻性陳述
|
| | | | 55 | | |
收益使用情況
|
| | | | 57 | | |
大寫 | | | | | 58 | | |
稀釋 | | | | | 60 | | |
分發策略
|
| | | | 62 | | |
選定的預計財務和歷史財務和運營數據
|
| | | | 63 | | |
行業概況和市場機會
|
| | | | 66 | | |
管理層對財務狀況和經營成果的討論和分析
|
| | | | 69 | | |
業務 | | | | | 87 | | |
我們的管理層
|
| | | | 104 | | |
我們公司的結構和組成
|
| | | | 115 | | |
主要股東
|
| | | | 117 | | |
某些關係和相關交易
|
| | | | 118 | | |
股本説明
|
| | | | 123 | | |
馬裏蘭州一般公司法和我們的憲章的某些條款和
附則 |
| | | | 126 | | |
有資格未來出售的股票
|
| | | | 131 | | |
某些美國聯邦所得税考慮因素
|
| | | | 133 | | |
承銷 | | | | | 136 | | |
法律事務
|
| | | | 144 | | |
專家 | | | | | 145 | | |
在哪裏可以找到更多信息
|
| | | | 146 | | |
財務報表索引
|
| | | | F-1 | | |
扇區
|
| |
市值(單位:$)
|
| |
(%)
|
| |
加權平均
優惠券(1) |
| |||||||||
經濟發展
|
| | | | 479,402,583 | | | | | | 24.7% | | | | | | 6.77% | | |
基礎設施
|
| | | | 436,138,110 | | | | | | 22.5% | | | | | | 6.28% | | |
急性醫療保健
|
| | | | 306,537,782 | | | | | | 15.8% | | | | | | 5.77% | | |
公私合作伙伴關係
|
| | | | 253,215,996 | | | | | | 13.1% | | | | | | 7.77% | | |
高等教育
|
| | | | 247,627,345 | | | | | | 12.8% | | | | | | 6.35% | | |
老年人生活
|
| | | | 70,761,443 | | | | | | 3.7% | | | | | | 4.96% | | |
政府實體
|
| | | | 71,247,892 | | | | | | 3.7% | | | | | | 7.11% | | |
學生公寓
|
| | | | 41,320,561 | | | | | | 2.1% | | | | | | 7.11% | | |
小學K-12教育
|
| | | | 32,171,793 | | | | | | 1.7% | | | | | | 6.87% | | |
總計/加權平均值
|
| | | | 1,938,423,505 | | | | | | 100% | | | | | | 6.51% | | |
狀態
|
| |
市值(單位:$)
|
| |
(%)
|
| |
加權平均
優惠券(1) |
| |||||||||
德克薩斯州
|
| | | | 376,635,595 | | | | | | 19.4% | | | | | | 7.44% | | |
佛羅裏達州
|
| | | | 275,274,116 | | | | | | 14.2% | | | | | | 5.52% | | |
加利福尼亞州
|
| | | | 182,921,142 | | | | | | 9.4% | | | | | | 6.40% | | |
紐約
|
| | | | 177,211,517 | | | | | | 9.1% | | | | | | 5.75% | | |
俄亥俄州
|
| | | | 155,064,616 | | | | | | 8.0% | | | | | | 6.23% | | |
哥倫比亞特區
|
| | | | 112,001,202 | | | | | | 5.8% | | | | | | 6.37% | | |
佐治亞州
|
| | | | 98,186,545 | | | | | | 5.1% | | | | | | 6.61% | | |
伊利諾伊州
|
| | | | 95,610,485 | | | | | | 4.9% | | | | | | 6.05% | | |
新澤西州
|
| | | | 81,925,668 | | | | | | 4.2% | | | | | | 6.25% | | |
其他(15)
|
| | | | 383,592,619 | | | | | | 19.8% | | | | | | 7.00% | | |
總計/加權平均值
|
| | | | 1,938,423,505 | | | | | | 100% | | | | | | 6.51% | | |
| | |
形式
|
| |
歷史
|
| ||||||||||||||||||||||||
| | |
三個
個月截止 3月31日 2021 |
| |
年終
12月31日 2020 |
| |
三個月
截至3月31日 |
| |
年終
12月31日 |
| ||||||||||||||||||
| | |
2021
|
| |
2020
|
| |
2020
|
| |
2019
|
| ||||||||||||||||||
收入: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
利息收入(1)
|
| | | | | | | | | $ | 28,414,040 | | | | | $ | 29,294,788 | | | | | $ | 120,361,186 | | | | | $ | 124,826,531 | | |
利息支出
|
| | | | | | | | | | (4,485,661) | | | | | | (4,816,505) | | | | | | (19,249,121) | | | | | | (23,212,275) | | |
淨利息收入
|
| | | | | | | | | | 23,928,379 | | | | | | 24,478,283 | | | | | | 101,112,065 | | | | | | 101,614,256 | | |
已實現淨收益(2)
|
| | | | | | | | | | 9,133,809 | | | | | | 1,627,458 | | | | | | 28,824,780 | | | | | | 45,229,877 | | |
其他收入(3)
|
| | | | | | | | | | 8,228,618 | | | | | | (13,562,889) | | | | | | (8,500,106) | | | | | | (6,419,646) | | |
總收入
|
| | | | | | | | | | 41,290,806 | | | | | | 12,542,852 | | | | | | 121,436,739 | | | | | | 140,424,487 | | |
費用: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
非安全-
暫時性損害 費用 |
| | | | | | | | | | — | | | | | | — | | | | | | 10,000,000 | | | | | | — | | |
管理和其他
操作(4) |
| | | | | | | | | | 8,749,099 | | | | | | 4,083,163 | | | | | | 23,018,807 | | | | | | 26,361,651 | | |
總費用
|
| | | | | | | | | | 8,749,099 | | | | | | 4,083,163 | | | | | | 33,018,807 | | | | | | 26,361,651 | | |
淨收入
|
| | | | | | | | | | 32,541,707 | | | | | | 8,459,689 | | | | | | 88,417,932 | | | | | | 114,062,836 | | |
可歸因於淨收益
至股東/ 會員資本 |
| | | | | | | | | | 32,541,707 | | | | | | 8,459,689 | | | | | | 87,703,265 | | | | | | 114,062,836 | | |
| | |
形式
|
| |
歷史
|
| |||||||||||||||||||||
| | |
截至
3月31日 2021 |
| |
截至
12月31日 2020 |
| |
截至3月31日
2021 |
| |
截至12月31日
|
| | ||||||||||||||
| | |
2020
|
| |
2019
|
| | ||||||||||||||||||||
總投資組合(1)
|
| | | | | | | | | $ | 1,936,001,209 | | | | | $ | 1,932,265,284 | | | | | $ | 1,781,179,120 | | | | ||
總資產
|
| | | | | | | | | | 2,057,957,232 | | | | | | 2,068,552,664 | | | | | | 2,047,189,932 | | | | ||
總債務(2)
|
| | | | | | | | | | 510,499,789 | | | | | | 493,781,352 | | | | | | 490,361,954 | | | | ||
總負債
|
| | | | | | | | | | 542,975,056 | | | | | | 507,508,474 | | | | | | 510,632,588 | | | | ||
總股本
|
| | | | | | | | | | 1,514,982,176 | | | | | | 1,561,044,190 | | | | | | 1,536,557,344 | | | |
| | |
形式
|
| |
歷史
|
| ||||||||||||||||||
| | |
這三個
個月截止 3月31日 |
| |
用於
年終 12月31日 |
| |
這三個
個月截止 3月31日 |
| |
用於
年終 12月31日 |
| ||||||||||||
| | |
2021
|
| |
2020
|
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||
投資組合利息收益率,不包括其他綜合收益(1)
|
| | | | | | | | | | 6.3% | | | | | | 6.9% | | | | | | 7.4% | | |
行政和其他費用佔總資產的百分比(2)
|
| | | | | | | | | | 1.4% | | | | | | 1.1% | | | | | | 1.4% | | |
減值佔投資組合的百分比
|
| | | | | | | | | | 0.0% | | | | | | 0.5% | | | | | | 0.0% | | |
債務/股權(3)
|
| | | | | | | | | | 0.34x | | | | | | 0.32x | | | | | | 0.32x | | |
平均資產回報率(ROAA)(4)
|
| | | | | | | | | | 6.3% | | | | | | 4.3% | | | | | | 6.0% | | |
平均股本回報率(ROE)(5)
|
| | | | | | | | | | 8.5% | | | | | | 5.7% | | | | | | 8.4% | | |
| | |
2021年3月31日
|
| |||||||||||||||
| | |
實際
|
| |
作為
調整(1) |
| |
作為
進一步調整(1) |
| |||||||||
現金和現金等價物
|
| | | $ | 67,132,433 | | | | | $ | | | | | $ | | | ||
債務融資
|
| | | | | | | | | | | | | | | | | | |
擔保借款
|
| | | $ | 162,975,439 | | | | | $ | | | | | $ | | | ||
合併實體中可強制贖回的非控股權益
|
| | | $ | 347,524,350 | | | | | | | | | | | | | | |
債務融資總額
|
| | | $ | 510,499,789 | | | | | | | | | | | | | | |
股東權益: | | | | | | | | | | | | | | | | | | | |
優先股,每股面值0.001美元,沒有授權股份,沒有發行和流通股,基於歷史基礎;授權股份, 股份,已發行和流通股,經調整; 股份授權, 股份,已發行和流通股,經進一步調整
|
| | | | — | | | | | | | | | | | | | | |
A類普通股,每股面值0.001美元,沒有授權股份,沒有發行和流通股,基於歷史基礎;授權股份, 股份,已發行和流通股,經調整; 股份授權, 股份,已發行和流通股,經進一步調整
|
| | | | — | | | | | | | | | | | | | | |
B類普通股,每股面值0.001美元,沒有授權股份,沒有發行和流通股,基於歷史基礎;授權股份, 股份,已發行和流通股,經調整; 股份授權, 股份,已發行和流通股,經進一步調整
|
| | | | — | | | | | | | | | | | | | | |
新增實收資本
|
| | | | | | | | | | | | | | | | | | |
會員/股東權益合計
|
| | | $ | 1,513,667,509 | | | | | | | | | | | | | | |
合併實體中的非控股權益
|
| | | $ | 1,314,667 | | | | | | | | | | | | | | |
總股本
|
| | | $ | 1,514,982,176 | | | | | | | | | | | | | | |
總市值
|
| | | $ | 2,025,481,965 | | | | | | | | | | | | | | |
|
|
假設A類普通股每股首次公開募股價格
|
| |
|
| | | $ | | | ||||
|
截至2021年3月31日的預計每股有形賬面淨值
|
| | | $ | | | | | | | | | |
|
可歸因於新投資者的預計每股有形賬面淨值增加(1)
|
| | | $ | | | | | | | | | |
|
上市後調整後的預計每股有形賬面淨值(2)
|
| | | | | | | | | $ | | | |
|
對新投資者的每股攤薄(3)
|
| | | | | | | | | $ | | | |
|
| | |
購買的股票
|
| |
總體考慮
|
| |
平均
價格 每股 |
| | ||||||||
| | |
號碼
|
| |
百分比
|
| |
金額
|
| |
百分比
|
| | | | |||
| | |
(千美元,每股數據除外)
|
| | ||||||||||||||
現有所有者
|
| | | | | | | | | | | | | | | | | ||
此次發行的投資者
|
| | | | | | | | | | | | | | | | | ||
合計
|
| | | | | | | | | | | | | | | | |
| | |
形式
|
| |
歷史
|
| ||||||||||||||||||||||||
| | |
三個月
已結束 3月31日 2021 |
| |
年終
12月31日 2020 |
| |
截止三個月
3月31日 |
| |
截至2010年12月31日的年度
|
| ||||||||||||||||||
| | |
2021
|
| |
2020
|
| |
2020
|
| |
2019
|
| ||||||||||||||||||
收入: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
有價證券利息
收入 |
| | | | | | | | | $ | 26,605,051 | | | | | | 26,063,681 | | | | | $ | 110,832,800 | | | | | $ | 110,859,143 | | |
應收金融賬款利息收入
|
| | | | | | | | | | 1,808,989 | | | | | | 3,231,107 | | | | | | 9,528,386 | | | | | | 13,967,388 | | |
利息支出
|
| | | | | | | | | | (4,485,661) | | | | | | (4,816,505) | | | | | | (19,249,121) | | | | | | (23,212,275) | | |
淨利息收入
|
| | | | | | | | | | 23,928,379 | | | | | | 24,478,283 | | | | | | 101,112,065 | | | | | | 101,614,256 | | |
有價證券和金融應收賬款銷售淨收益
|
| | | | | | | | | | 9,133,809 | | | | | | 1,627,458 | | | | | | 12,894,541 | | | | | | 45,229,877 | | |
房地產銷售淨收益
為 保留的項目和土地 銷售 |
| | | | | | | | | | — | | | | | | — | | | | | | 15,930,239 | | | | | | — | | |
未實現淨收益(虧損)
適銷對路 證券和投資 私募基金中的 |
| | | | | | | | | | (1,527,566) | | | | | | (1,210,431) | | | | | | 152,774 | | | | | | 3,419,555 | | |
衍生證券淨收益(虧損)
|
| | | | | | | | | | 8,299,357 | | | | | | (12,523,329) | | | | | | (9,005,027) | | | | | | (10,418,157) | | |
REO營業收入
|
| | | | | | | | | | 1,396,166 | | | | | | — | | | | | | — | | | | | | — | | |
|
| | |
形式
|
| |
歷史
|
| | | ||||||||||||||||||||||||||||
| | |
三個月
已結束 3月31日 2021 |
| |
年終
12月31日 2020 |
| |
截止三個月
3月31日 |
| |
截至2010年12月31日的年度
|
| | | ||||||||||||||||||||||
| | |
2021
|
| |
2020
|
| |
2020
|
| |
2019
|
| | | ||||||||||||||||||||||
其他
|
| | | | | | | | | | 60,661 | | | | | | 170,871 | | | | | | 352,147 | | | | | | 578,956 | | | | | ||||
總收入
|
| | | | | | | | | | 41,290,806 | | | | | | 12,542,852 | | | | | | 121,436,739 | | | | | | 140,424,487 | | | | | ||||
費用: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
安全隱患
費用 |
| | | | | | | | | | — | | | | | | — | | | | | | 10,000,000 | | | | | | — | | | | | ||||
應收財務信用損失撥備(收回)
|
| | | | | | | | | | (6,803) | | | | | | 38,653 | | | | | | 3,291 | | | | | | 76,663 | | | | | ||||
REO運營費用
|
| | | | | | | | | | 1,714,491 | | | | | | — | | | | | | — | | | | | | — | | | | | ||||
薪酬
|
| | | | | | | | | | 4,444,098 | | | | | | 2,757,154 | | | | | | 15,228,236 | | | | | | 15,963,708 | | | | | ||||
管理和其他操作
|
| | | | | | | | | | 2,597,313 | | | | | | 1,287,356 | | | | | | 7,787,280 | | | | | | 10,321,280 | | | | | ||||
總費用
|
| | | | | | | | | | 8,749,099 | | | | | | 4,083,163 | | | | | | 33,018,807 | | | | | | 26,361,651 | | | | | ||||
税前淨收益
|
| | | | | | | | | | 32,541,707 | | | | | | 8,459,689 | | | | | | 88,417,932 | | | | | | 114,062,836 | | | | | ||||
税費
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | ||||
淨收益(税後)
|
| | | | | | | | | | 32,541,707 | | | | | | 8,459,689 | | | | | | 88,417,932 | | | | | | 114,062,836 | | | | | ||||
可歸因於非控股權益的淨收入
|
| | | | | | | | | | — | | | | | | — | | | | | | 714,667 | | | | | | — | | | | | ||||
可歸因於控制資本的淨收入
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | ||||
會員資本淨收入
|
| | | | | | | | | $ | 32,541,707 | | | | | $ | 8,459,689 | | | | | $ | 87,703,265 | | | | | $ | 114,062,836 | | | | | ||||
|
| | |
形式
|
| |
歷史
|
| ||||||||||||||||||
| | |
截至
3月31日 2021 |
| |
截至
12月31日 2020 |
| |
截至
3月31日 2021 |
| |
截至12月31日
|
| ||||||||||||
| | |
2020
|
| |
2019
|
| ||||||||||||||||||
資產 | | | | | | | | | | | | | | | | | | | | | | | | | |
現金和現金等價物以及限制性現金
|
| | | | | | | | | $ | 72,374,692 | | | | | $ | 88,220,755 | | | | | $ | 12,507,292 | | |
按公允價值投資有價證券
|
| | | | | | | | | | 817,644,815 | | | | | | 765,962,052 | | | | | | 904,033,721 | | |
以公允價值以信託形式持有的有價證券投資
|
| | | | | | | | | | 974,570,223 | | | | | | 1,040,986,810 | | | | | | 764,677,079 | | |
財務應收賬款投資,扣除可能的損失撥備
|
| | | | | | | | | | 71,790,904 | | | | | | 76,523,447 | | | | | | 111,248,693 | | |
投資私募基金
|
| | | | | | | | | | 1,597,549 | | | | | | 1,418,472 | | | | | | 1,219,627 | | |
應收利息
|
| | | | | | | | | | 36,551,394 | | | | | | 33,677,772 | | | | | | 30,807,516 | | |
應收逆回購,淨額
|
| | | | | | | | | | 2,643,483 | | | | | | 3,810,800 | | | | | | 4,817,248 | | |
自有房產
|
| | | | | | | | | | 70,397,718 | | | | | | 47,374,503 | | | | | | — | | |
其他資產
|
| | | | | | | | | | 10,386,454 | | | | | | 10,578,053 | | | | | | 17,878,756 | | |
總資產
|
| | | | | | | | | $ | 2,057,957,232 | | | | | $ | 2,068,552,664 | | | | | $ | 2,047,189,932 | | |
|
| | |
形式
|
| |
歷史
|
| ||||||||||||||||||
| | |
截至
3月31日 2021 |
| |
截至
12月31日 2020 |
| |
截至
3月31日 2021 |
| |
截至12月31日
|
| ||||||||||||
| | |
2020
|
| |
2019
|
| ||||||||||||||||||
負債和股權 | | | | | | | | | | | | | | | | | | | | | | | | | |
應付帳款和其他負債
|
| | | | | | | | | $ | 32,475,267 | | | | | $ | 13,727,122 | | | | | $ | 20,270,634 | | |
擔保借款
|
| | | | | | | | | | 162,975,439 | | | | | | 162,964,352 | | | | | | 157,136,554 | | |
合併實體中可強制贖回的非控股權益
|
| | | | | | | | | | 347,524,350 | | | | | | 330,817,000 | | | | | | 333,225,400 | | |
總負債
|
| | | | | | | | | | 542,975,056 | | | | | | 507,508,474 | | | | | | 510,632,588 | | |
股東權益: | | | | | | | | | | | | | | | | | | | | | | | | | |
A類普通股
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | |
B類普通股
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | |
新增實收資本
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | |
會員權益: | | | | | | | | | | | | | | | | | | | | | | | | | |
出資
|
| | | | | | | | | $ | 887,520,606 | | | | | | 994,135,558 | | | | | | 1,086,034,349 | | |
留存收益
|
| | | | | | | | | | 482,805,144 | | | | | | 450,263,437 | | | | | | 362,560,172 | | |
累計其他綜合收益
|
| | | | | | | | | | 143,341,759 | | | | | | 115,330,528 | | | | | | 87,362,823 | | |
會員權益合計
|
| | | | | | | | | | 1,513,667,509 | | | | | | 1,559,729,523 | | | | | | 1,535,957,344 | | |
合併實體中的非控股權益
|
| | | | | | | | | | 1,314,667 | | | | | | 1,314,667 | | | | | | 600,000 | | |
總股本
|
| | | | | | | | | | 1,514,982,176 | | | | | | 1,561,044,190 | | | | | | 1,536,557,344 | | |
負債和權益合計
|
| | | | | | | | | $ | 2,057,957,232 | | | | | $ | 2,068,552,664 | | | | | $ | 2,047,189,932 | | |
|
| | |
形式
|
| |
歷史
|
| ||||||||||||||||||
| | |
這三個
個月截止 3月31日 |
| |
用於
年終 12月31日 |
| |
這三個
個月截止 3月31日 |
| |
用於
年終 12月31日 |
| ||||||||||||
| | |
2021
|
| |
2020
|
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||
投資組合利息收益率,不包括其他綜合收益(1)
|
| | | | | | | | | | 6.3% | | | | | | 6.9% | | | | | | 7.4% | | |
行政和其他費用佔總資產的百分比(2)
|
| | | | | | | | | | 1.4% | | | | | | 1.1% | | | | | | 1.4% | | |
減值佔投資組合的百分比
|
| | | | | | | | | | 0.0% | | | | | | 0.5% | | | | | | 0.0% | | |
債務/股權(3)
|
| | | | | | | | | | 0.34x | | | | | | 0.32x | | | | | | 0.32x | | |
平均資產回報率(ROAA)(4)
|
| | | | | | | | | | 6.3% | | | | | | 4.3% | | | | | | 6.0% | | |
平均股本回報率(ROE)(5)
|
| | | | | | | | | | 8.5% | | | | | | 5.7% | | | | | | 8.4% | | |
| | |
歷史
|
| |||||||||||||||||||||
| | |
截至3月31日的三個月
|
| | | | | | | | | | | | | |||||||||
| | |
2021
|
| |
2020
|
| |
$更改
|
| |
%更改
|
| ||||||||||||
收入: | | | | | | | | | | | | | | | | | | | | | | | | | |
有價證券利息收入
|
| | | $ | 26,605,051 | | | | | | 26,063,681 | | | | | | 541,370 | | | | | | 2.1 | | |
應收金融賬款利息收入
|
| | | | 1,808,989 | | | | | | 3,231,107 | | | | | | (1,422,118) | | | | | | (44) | | |
利息支出
|
| | | | (4,485,661) | | | | | | (4,816,505) | | | | | | 330,844 | | | | | | (6.9) | | |
淨利息收入
|
| | | | 23,928,379 | | | | | | 24,478,283 | | | | | | (549,904) | | | | | | (2.2) | | |
有價證券銷售淨收益和
財務應收賬款 |
| | | | 9,133,809 | | | | | | 1,627,458 | | | | | | 7,506,351 | | | | | | 461.2 | | |
交易有價證券和投資私募基金的未實現淨虧損
|
| | | | (1,527,566) | | | | | | (1,210,431) | | | | | | (317,135) | | | | | | 26.2 | | |
衍生證券淨收益(虧損)
|
| | | | 8,299,357 | | | | | | (12,523,329) | | | | | | 20,822,686 | | | | | | 166.2 | | |
REO營業收入
|
| | | | 1,396,166 | | | | | | — | | | | | | 1,396,166 | | | | | | — | | |
其他
|
| | | | 60,661 | | | | | | 170,871 | | | | | | (110,210) | | | | | | (64.5) | | |
總收入
|
| | | | 41,290,806 | | | | | | 12,542,852 | | | | | | 28,747,954 | | | | | | 229.2 | | |
費用: | | | | | | | | | | | | | | | | | | | | | | | | | |
應收財務信用損失撥備(收回)
|
| | | | (6,803) | | | | | | 38,653 | | | | | | (45,456) | | | | | | (117.6) | | |
REO運營費用
|
| | | | 1,714,491 | | | | | | — | | | | | | 1,714,491 | | | | | | — | | |
薪酬
|
| | | | 4,444,098 | | | | | | 2,757,154 | | | | | | 1,686,944 | | | | | | 61.2 | | |
管理和其他操作
|
| | | | 2,597,313 | | | | | | 1,287,356 | | | | | | 1,309,957 | | | | | | 101.8 | | |
總費用
|
| | | | 8,749,099 | | | | | | 4,083,163 | | | | | | 4,665,936 | | | | | | 114.3 | | |
淨收入
|
| | | | 32,541,707 | | | | | | 8,459,689 | | | | | | 24,082,018 | | | | | | 284.7 | | |
可歸因於非控股權益的淨收入
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
會員資本淨收入
|
| | | $ | 32,541,707 | | | | | | 8,459,689 | | | | | | 24,082,018 | | | | | | 24,082,018 | | |
| | |
歷史
|
| |||||||||||||||||||||
| | |
截至2010年12月31日的年度
|
| | | | | | | | | | | | | |||||||||
| | |
2020
|
| |
2019
|
| |
$更改
|
| |
%更改
|
| ||||||||||||
收入: | | | | | | | | | | | | | | | | | | | | | | | | | |
有價證券利息收入
|
| | | $ | 110,832,800 | | | | | $ | 110,859,143 | | | | | $ | (26,343) | | | | | | (0.02) | | |
應收金融賬款利息收入
|
| | | | 9,528,386 | | | | | | 13,967,388 | | | | | | (4,439,002) | | | | | | (31.78) | | |
利息支出
|
| | | | (19,249,121) | | | | | | (23,212,275) | | | | | | (3,963,153) | | | | | | (17.14) | | |
淨利息收入
|
| | | | 101,112,065 | | | | | | 101,614,256 | | | | | | (502,191) | | | | | | (0.49) | | |
有價證券和金融應收賬款銷售淨收益
|
| | | | 12,894,541 | | | | | | 45,229,877 | | | | | | (32,335,336) | | | | | | (71.49) | | |
出售房地產項目和持有待售土地的淨收益
|
| | | | 15,930,239 | | | | | | — | | | | | | 15,930,239 | | | | | | — | | |
交易有價證券和投資私募基金的未實現淨收益
|
| | | | 152,774 | | | | | | 3,419,555 | | | | | | (3,266,781) | | | | | | (95.53) | | |
衍生證券淨虧損
|
| | | | (9,005,027) | | | | | | (10,418,157) | | | | | | 1,413,130 | | | | | | (13.56) | | |
其他
|
| | | | 352,147 | | | | | | 578,956 | | | | | | (226,809) | | | | | | (39.17) | | |
總收入
|
| | | | 121,436,739 | | | | | | 140,424,487 | | | | | | (18,987,748) | | | | | | (13.52) | | |
費用: | | | | | | | | | | | | | | | | | | | | | | | | | |
臨時減值費用以外的安全費用
|
| | | | 10,000,000 | | | | | | — | | | | | | 10,000,000 | | | | | | — | | |
應收財務信用損失準備金
|
| | | | 3,291 | | | | | | 76,663 | | | | | | (73,372) | | | | | | (95.7) | | |
薪酬
|
| | | | 15,228,236 | | | | | | 15,963,708 | | | | | | (735,472) | | | | | | 4.6 | | |
管理和其他操作
|
| | | | 7,787,280 | | | | | | 10,321,280 | | | | | | (2,534,000) | | | | | | (24.55) | | |
總費用
|
| | | | 33,018,807 | | | | | | 26,361,651 | | | | | | 6,657,156 | | | | | | 25.25 | | |
淨收入
|
| | | | 88,417,932 | | | | | | 114,062,836 | | | | | | (25,644,904) | | | | | | (22.48) | | |
可歸因於非控股的淨收入
興趣 |
| | | | 714,667 | | | | | | — | | | | | | 714,667 | | | | | | — | | |
會員資本淨收入
|
| | | | 87,703,265 | | | | | | 114,062,836 | | | | | | (26,359,571) | | | | | | 23.10 | | |
|
設施(截至21年3月31日)
|
| |
設施規模
|
| |
出色的
截至 的餘額 2021年3月31日 |
| |
當前
利息 費率 |
| |
到期
日期 |
| ||||||||||||
TMT 2018-1
|
| | | | 不適用 | | | | | | 95,127,700 | | | | | | (1) | | | | | | (2) | | |
TMT 2019-2
|
| | | | 不適用 | | | | | | 78,441,150 | | | | | | (1) | | | | | | (2) | | |
TMT 2019-3
|
| | | | 不適用 | | | | | | 54,307,500 | | | | | | (1) | | | | | | (2) | | |
TMT 2019-5
|
| | | | 不適用 | | | | | | 49,748,000 | | | | | | (1) | | | | | | (2) | | |
TMT 2021-2
|
| | | | 不適用 | | | | | | 50,000,000 | | | | | | (1) | | | | | | (2) | | |
TMT 2021-3
|
| | | | 不適用 | | | | | | 19,900,000 | | | | | | (1) | | | | | | (2) | | |
應税期限A/B設施
|
| | | | 400,000,000 | | | | | | 149,885,439 | | | | | | 2.64% | | | |
10/1/2023
|
| |||
高級安全設施
|
| | | | 150,000,000 | | | | | | 0 | | | | | | 不適用 | | | |
7/1/2022
|
| |||
總回報掉期
|
| | | | 不適用 | | | | | | 13,090,000 | | | | | | 1.71% | | | |
11/1/2021
|
| |||
總計/平均值
|
| | | | | | | | | | 510,499,789 | | | | | | 3.21% | | | |
20.48年
|
|
| | |
歷史
|
| |||||||||
| | |
截至3月31日的三個月
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
淨收入
|
| | | $ | 32,541,707 | | | | | | 8,459,689 | | |
經營活動提供的淨現金
|
| | | | 12,168,913 | | | | | | 1,854,616 | | |
投資活動提供(用於)的淨現金
|
| | | | 61,881,540 | | | | | | (74,731,014) | | |
融資活動提供的淨現金(用於)
|
| | | | (89,896,516) | | | | | | 237,851,286 | | |
現金及現金等價物和限制性現金淨(減)增
|
| | | | (15,846,063) | | | | | | 164,974,888 | | |
期初現金和現金等價物及限制性現金
|
| | | | 88,220,755 | | | | | | 212,507,292 | | |
期末現金和現金等價物及限制性現金
|
| | | $ | 72,374,692 | | | | | | 377,482,180 | | |
| | |
歷史
|
| |||||||||
| | |
截至2010年12月31日的年度
|
| |||||||||
| | |
2020
|
| |
2019
|
| ||||||
淨收入
|
| | | $ | 88,417,932 | | | | | | 114,062,836 | | |
經營活動提供的淨現金
|
| | | | 38,854,378 | | | | | | 104,804,385 | | |
投資活動提供的淨現金(用於)
|
| | | | (74,466,108) | | | | | | 1,481,102 | | |
融資活動提供的淨現金(用於)
|
| | | | (88,674,807) | | | | | | 81,962,363 | | |
現金和現金等價物淨(減)增並受限
現金 |
| | | | (124,286,537) | | | | | | 188,247,850 | | |
年初現金及現金等價物和限制性現金
|
| | | | 212,507,292 | | | | | | 24,259,442 | | |
年終現金和現金等價物以及限制性現金
|
| | | $ | 88,220,755 | | | | | | 212,507,292 | | |
| | |
合計
|
| |
不到1年
|
| |
1個−3年
|
| |
3−5年
|
| |
5年以上
|
|
經營租賃負債
|
| | | | | | | | | | | | | | | |
債務融資
|
| | | | | | | | | | | | | | | |
合同總義務
|
| | | | | | | | | | | | | | | |
扇區
|
| |
市場
值(單位:$) |
| |
(%)
|
| |
加權平均
優惠券(1) |
| |||||||||
經濟發展
|
| | | | 479,402,583 | | | | | | 24.7% | | | | | | 6.77% | | |
基礎設施
|
| | | | 436,138,110 | | | | | | 22.5% | | | | | | 6.28% | | |
急性醫療保健
|
| | | | 306,537,782 | | | | | | 15.8% | | | | | | 5.77% | | |
公私合作伙伴關係
|
| | | | 253,215,996 | | | | | | 13.1% | | | | | | 7.77% | | |
高等教育
|
| | | | 247,627,345 | | | | | | 12.8% | | | | | | 6.35% | | |
老年人生活
|
| | | | 70,761,443 | | | | | | 3.7% | | | | | | 4.96% | | |
政府實體
|
| | | | 71,247,892 | | | | | | 3.7% | | | | | | 7.11% | | |
學生公寓
|
| | | | 41,320,561 | | | | | | 2.1% | | | | | | 7.11% | | |
小學K-12教育
|
| | | | 32,171,793 | | | | | | 1.7% | | | | | | 6.87% | | |
總計/加權平均值
|
| | | | 1,938,423,505 | | | | | | 100% | | | | | | 6.51% | | |
狀態
|
| |
市場
值(單位:$) |
| |
(%)
|
| |
加權平均
優惠券(1) |
| |||||||||
德克薩斯州
|
| | | | 376,635,595 | | | | | | 19.4% | | | | | | 7.44% | | |
佛羅裏達州
|
| | | | 275,274,116 | | | | | | 14.2% | | | | | | 5.52% | | |
加利福尼亞州
|
| | | | 182,921,142 | | | | | | 9.4% | | | | | | 6.40% | | |
紐約
|
| | | | 177,211,517 | | | | | | 9.1% | | | | | | 5.75% | | |
俄亥俄州
|
| | | | 155,064,616 | | | | | | 8.0% | | | | | | 6.23% | | |
哥倫比亞特區
|
| | | | 112,001,202 | | | | | | 5.8% | | | | | | 6.37% | | |
佐治亞州
|
| | | | 98,186,545 | | | | | | 5.1% | | | | | | 6.61% | | |
伊利諾伊州
|
| | | | 95,610,485 | | | | | | 4.9% | | | | | | 6.05% | | |
新澤西州
|
| | | | 81,925,668 | | | | | | 4.2% | | | | | | 6.25% | | |
其他(15)
|
| | | | 383,592,619 | | | | | | 19.8% | | | | | | 7.00% | | |
總計/加權平均值
|
| | | | 1,938,423,505 | | | | | | 100% | | | | | | 6.51% | | |
扇區
|
| |
主體
金額 |
| |||
醫療保健
|
| | | | 27.6% | | |
公私合作伙伴關係
|
| | | | 20.3% | | |
基礎設施
|
| | | | 10.8% | | |
住房
|
| | | | 10.7% | | |
小學K-12教育
|
| | | | 8.5% | | |
高等教育
|
| | | | 8.0% | | |
經濟發展
|
| | | | 6.5% | | |
老年人生活
|
| | | | 5.8% | | |
非營利性組織
|
| | | | 1.8% | | |
| | | | | 100% | | |
設施(截至21年3月31日)
|
| |
設施規模
|
| |
出色的
截至 的餘額 2021年3月31日 |
| |
當前
利率 |
| |
到期
日期 |
| ||||||||||||
TMT 2018-1
|
| | | | 不適用 | | | | | | 95,127,700 | | | | | | (1) | | | | | | (2) | | |
TMT 2019-2
|
| | | | 不適用 | | | | | | 78,441,150 | | | | | | (1) | | | | | | (2) | | |
TMT 2019-3
|
| | | | 不適用 | | | | | | 54,307,500 | | | | | | (1) | | | | | | (2) | | |
TMT 2019-5
|
| | | | 不適用 | | | | | | 49,748,000 | | | | | | (1) | | | | | | (2) | | |
TMT 2021-2
|
| | | | 不適用 | | | | | | 50,000,000 | | | | | | (1) | | | | | | (2) | | |
TMT 2021-3
|
| | | | 不適用 | | | | | | 19,900,000 | | | | | | (1) | | | | | | (2) | | |
應税期限A/B設施
|
| | | | 400,000,000 | | | | | | 149,885,439 | | | | | | 2.64% | | | | | | 10/1/2023 | | |
高級安全設施
|
| | | | 150,000,000 | | | | | | 0 | | | | | | 不適用 | | | | | | 7/1/2022 | | |
總回報掉期
|
| | | | 不適用 | | | | | | 13,090,000 | | | | | | 1.71% | | | | | | 11/1/2021 | | |
總計/平均值
|
| | | | | | | | | | 510,499,789 | | | | | | 3.21% | | | |
20.48年
|
|
名稱
|
| |
年齡
|
| |
職位
|
|
吉姆·湯普森
|
| | | | | 董事長兼首席執行官 | |
Cliff Weiner
|
| | | | | 固定收益部門負責人 | |
Paige Deskin
|
| | | | | 首席財務官 | |
拉米羅·阿爾巴倫
|
| | | | | 發起人聯席主管 | |
查理·維斯康尼
|
| | | | | 發起人聯席主管 | |
格雷格·梅
|
| | | | | 企業發展負責人 | |
柯蒂斯·埃裏克森
|
| | | | | 資本市場部主管 | |
約翰·比爾
|
| | | | | 聯席首席信貸官 | |
喬·詹姆斯
|
| | | | | 聯席首席信貸官 | |
約翰·迪南
|
| | | | | 總法律顧問 | |
康迪斯·斯蒂芬斯
|
| | | | | 運營總監 | |
| | | | | | 導演 | |
| | | | | | 導演 | |
| | | | | | 導演 | |
| | | | | | 導演 | |
| | | | | | 導演 | |
| | |
薪酬彙總表
|
| ||||||||||||||||||||||||
名稱和
主體 職位 |
| |
2020
年化 薪酬 工資($)(1) 獎金($) |
| |
庫存
獎項(2) |
| |
選項
獎項 |
| |
非股權
獎勵計劃 薪酬 |
| |
更改
養老金 值和 不合格 延期 薪酬 收入 |
| |
所有其他
薪酬 ($)(3) |
| |
總計($)(4)
|
| ||||||
| | | | $ | | | | | $ | | | | | | | | | | | | | | | | | |
| | |
A類普通股
|
| |||||||||
| | |
緊接在產品之前
|
| |
在提供後立即
|
| ||||||
受益人姓名
|
| |
號碼(1)
|
| |
百分比
|
| |
號碼(1)(2)
|
| |
百分比(3)
|
|
主要股東
Preston Hollow Capital,LLC |
| | | | | | | | | | | | |
董事、董事提名人和高管:
|
| | | | | | | | | | | | |
| | | | | | ||||||||
| | | | | | ||||||||
| | | | | | ||||||||
| | | | | | ||||||||
所有董事、董事提名人和高管( 人員)
|
| | | | | | | | | | | | |
名稱
|
| |
股份數量
|
|
摩根大通證券有限責任公司
|
| | | |
巴克萊資本公司
|
| | | |
合計 | | | | |
| | |
沒有
購買選項 其他共享 練習 |
| |
已滿
購買選項 其他共享 練習 |
| ||||||
每股
|
| | |
$
|
|
| | | |
$
|
|
| |
合計 | | | | $ | | | | | $ | | | |
| Preston Hollow Community Capital Inc.未經審計的形式合併財務信息 | | | | | | | |
|
概述
|
| | | | F-2 | | |
|
截至2021年3月31日的合併資產負債表
|
| | | | F-3 | | |
|
截至2021年3月31日的三個月和截至2020年12月31日的年度的合併損益表
|
| | | | F-4 | | |
|
形式財務報表備註
|
| | | | F-6 | | |
| PHC、LLC歷史合併財務報表 | | | | | | | |
|
獨立註冊會計師事務所報告
|
| | | | F-8 | | |
|
截至2020年12月31日和截至2019年12月31日的合併資產負債表
|
| | | | F-9 | | |
|
截至2020年12月31日和2019年12月31日的三個年度的合併損益表
|
| | | | F-10 | | |
|
截至2020年12月31日和2019年12月31日的合併全面收益表
|
| | | | F-11 | | |
|
截至2020年12月31日和2019年12月31日的三個年度的合併權益報表
|
| | | | F-12 | | |
|
截至2020年12月31日和2019年12月31日的三個年度的合併現金流量表
|
| | | | F-13 | | |
|
財務報表附註
|
| | | | F-14 | | |
| PHC,LLC歷史未經審計的中期合併財務報表 | | | | | | | |
|
截至2021年3月31日和2020年12月31日的合併資產負債表
|
| | | | F-40 | | |
|
截至2021年3月31日和2020年3月31日的三個月的合併損益表
|
| | | | F-41 | | |
|
截至2021年3月31日和2021年3月31日的三個月綜合全面收益(虧損)表
2020 |
| | | | F-42 | | |
|
截至2021年3月31日和2020年3月31日的三個月的合併權益報表
|
| | | | F-43 | | |
|
截至2021年3月31日和2020年3月31日的三個月合併現金流量表
|
| | | | F-44 | | |
|
財務報表附註
|
| | | | F-45 | | |
| | |
Preston Hollow有限責任公司
歷史 |
| |
交易
調整 |
| |
普雷斯頓山谷
社區 Capital,Inc. 形式 |
| |||
現金和現金等價物及受限
現金 |
| | | | 72,374,692 | | | | | | | | |
按公允價值投資有價證券
|
| | | | 817,644,815 | | | | | | | | |
持有的有價證券投資
信託,按公允價值計算 |
| | | | 974,570,223 | | | | | | | | |
應收財務投資淨額
備抵可能的損失 |
| | | | 71,790,904 | | | | | | | | |
投資私募基金
|
| | | | 1,597,549 | | | | | | | | |
自有房產
|
| | | | 70,397,718 | | | | | | | | |
應收利息
|
| | | | 36,551,394 | | | | | | | | |
應收逆回購,淨額
|
| | | | 2,643,483 | | | | | | | | |
其他資產
|
| | | | 10,386,454 | | | | | | | | |
總資產
|
| | | | 2,057,957,232 | | | | | | | | |
應付帳款和其他負債
|
| | | | 32,475,267 | | | | | | | | |
擔保借款
|
| | | | 162,975,439 | | | | | | | | |
合併實體中主要可贖回的非控股權益
|
| | | | 347,524,350 | | | | | | | | |
總負債
|
| | | | 542,975,056 | | | | | | | | |
優先股
|
| | | | — | | | | | | | | |
A類普通股
|
| | | | — | | | | | | | | |
B類普通股
|
| | | | — | | | | | | | | |
新增實收資本
|
| | | | — | | | | | | | | |
出資
|
| | | | 887,520,606 | | | | | | | | |
留存收益
|
| | | | 482,805,144 | | | | | | | | |
累計其他綜合收益
|
| | | | 143,341,759 | | | | | | | | |
會員/股東權益合計
|
| | | | 1,513,667,509 | | | | | | | | |
合併實體中的非控股權益
|
| | | | 1,314,667 | | | | | | | | |
總股本
|
| | | | 1,514,982,176 | | | | | | | | |
負債和權益合計
|
| | | | 2,057,957,232 | | | | | | | | |
|
| | |
Preston Hollow有限責任公司
歷史 |
| |
交易
調整 |
| |
普雷斯頓山谷
社區 Capital,Inc. 形式 |
| |||
有價證券利息收入
|
| | | | 110,832,800 | | | | | | | | |
應收金融賬款利息收入
|
| | | | 9,528,386 | | | | | | | | |
利息支出
|
| | | | (19,249,121) | | | | | | | | |
淨利息收入
|
| | | | 101,112,065 | | | | | | | | |
有價證券和金融應收賬款銷售淨收益
|
| | | | 12,894,541 | | | | | | | | |
出售房地產項目和持有待售土地的淨收益
|
| | | | 15,930,239 | | | | | | | | |
交易有價證券和投資私募基金的未實現淨收益
|
| | | | 152,774 | | | | | | | | |
衍生證券淨虧損
|
| | | | (9,005,027) | | | | | | | | |
其他
|
| | | | 352,147 | | | | | | | | |
總收入
|
| | | | 121,436,739 | | | | | | | | |
臨時減值費用以外的安全費用
|
| | | | 10,000,000 | | | | | | | | |
應收財務信用損失準備金
|
| | | | 3,291 | | | | | | | | |
薪酬
|
| | | | 15,228,236 | | | | | | | | |
管理和其他操作
|
| | | | 7,787,280 | | | | | | | | |
總費用
|
| | | | 33,018,807 | | | | | | | | |
税前淨收益
|
| | | | 88,417,932 | | | | | | | | |
税費
|
| | | | — | | | | | | | | |
税後淨收益
|
| | | | 88,417,932 | | | | | | | | |
可歸因於非控股權益的淨收入
|
| | | | 714,667 | | | | | | | | |
可歸因於控制資本的淨收入
|
| | | | 87,703,265 | | | | | | | | |
A類普通股每股淨收益: | | | | | | | | | | | | | |
基礎版
|
| | | | | | | | | | | | |
稀釋
|
| | | | | | | | | | | | |
A類已發行普通股加權平均股份:
|
| | | | | | | | | | | | |
基礎版
|
| | | | | | | | | | | | |
稀釋
|
| | | | | | | | | | | | |
| | |
Preston Hollow有限責任公司
歷史 |
| |
交易
調整 |
| |
普雷斯頓山谷
社區 Capital,Inc. 形式 |
| |||
有價證券利息收入
|
| | | | 26,605,051 | | | | | | | | |
應收金融賬款利息收入
|
| | | | 1,808,989 | | | | | | | | |
利息支出
|
| | | | (4,485,661) | | | | | | | | |
淨利息收入
|
| | | | 23,928,379 | | | | | | | | |
有價證券和金融應收賬款銷售淨收益
|
| | | | 9,133,809 | | | | | | | | |
交易有價證券和投資私募基金的未實現淨虧損
|
| | | | (1,527,566) | | | | | | | | |
衍生證券淨收益
|
| | | | 8,299,357 | | | | | | | | |
REO營業收入
|
| | | | 1,396,166 | | | | | | | | |
其他
|
| | | | 60,661 | | | | | | | | |
總收入
|
| | | | 41,290,806 | | | | | | | | |
應收財務信用損失撥備(收回)
|
| | | | (6,803) | | | | | | | | |
REO運營費用
|
| | | | 1,714,491 | | | | | | | | |
薪酬
|
| | | | 4,444,098 | | | | | | | | |
管理和其他操作
|
| | | | 2,597,313 | | | | | | | | |
總費用
|
| | | | 8,749,099 | | | | | | | | |
税前淨收益
|
| | | | 32,541,707 | | | | | | | | |
税費
|
| | | | — | | | | | | | | |
税後淨收益
|
| | | | 32,541,707 | | | | | | | | |
可歸因於非控股權益的淨收入
|
| | | | — | | | | | | | | |
可歸因於控制資本的淨收入
|
| | | | 32,541,707 | | | | | | | | |
A類普通股每股淨收益: | | | | | | | | | | | | | |
基礎版
|
| | | | | | | | | | | | |
稀釋
|
| | | | | | | | | | | | |
A類已發行普通股加權平均股份:
|
| | | | | | | | | | | | |
基礎版
|
| | | | | | | | | | | | |
稀釋
|
| | | | | | | | | | | | |
| | |
2020
|
| |
2019
|
| ||||||
資產 | | | | ||||||||||
現金和現金等價物
|
| | | $ | 66,543,580 | | | | | | 203,599,336 | | |
受限現金
|
| | | | 21,677,175 | | | | | | 8,907,956 | | |
按公允價值投資有價證券(成本分別為726,613,174美元和861,054,192美元)
|
| | | | 765,962,052 | | | | | | 904,033,721 | | |
以公允價值對信託持有的有價證券進行投資(成本分別為961,275,276美元和716,343,383美元)
|
| | | | 1,040,986,810 | | | | | | 764,677,079 | | |
財務應收賬款投資,扣除可能的損失撥備
分別為469,493美元和466,202美元 |
| | | | 76,523,447 | | | | | | 111,248,693 | | |
投資私募基金
|
| | | | 1,418,472 | | | | | | 1,219,627 | | |
應收利息
|
| | | | 33,677,772 | | | | | | 30,807,516 | | |
應收逆回購,淨額
|
| | | | 3,810,800 | | | | | | 4,817,248 | | |
擁有的房地產
|
| | | | 47,374,503 | | | | | | — | | |
其他資產
|
| | | | 10,578,053 | | | | | | 17,878,756 | | |
總資產
|
| | | $ | 2,068,552,664 | | | | | | 2,047,189,932 | | |
負債和股權 | | | | | | | | | | | | | |
應付帳款和其他負債
|
| | | $ | 13,727,122 | | | | | | 20,270,634 | | |
擔保借款
|
| | | | 162,964,352 | | | | | | 157,136,554 | | |
合併實體中可強制贖回的非控股權益
|
| | | | 330,817,000 | | | | | | 333,225,400 | | |
總負債
|
| | | | 507,508,474 | | | | | | 510,632,588 | | |
會員權益: | | | | | | | | | | | | | |
出資
|
| | | | 994,135,558 | | | | | | 1,086,034,349 | | |
留存收益
|
| | | | 450,263,437 | | | | | | 362,560,172 | | |
累計其他綜合收益
|
| | | | 115,330,528 | | | | | | 87,362,823 | | |
會員權益合計
|
| | | | 1,559,729,523 | | | | | | 1,535,957,344 | | |
合併實體中的非控股權益
|
| | | | 1,314,667 | | | | | | 600,000 | | |
總股本
|
| | | | 1,561,044,190 | | | | | | 1,536,557,344 | | |
負債和權益合計
|
| | | $ | 2,068,552,664 | | | | | | 2,047,189,932 | | |
|
| | |
2020
|
| |
2019
|
| ||||||
收入: | | | | | | | | | | | | | |
有價證券利息收入
|
| | | $ | 110,832,800 | | | | | | 110,859,143 | | |
應收金融賬款利息收入
|
| | | | 9,528,386 | | | | | | 13,967,388 | | |
利息費用
|
| | | | (19,249,121) | | | | | | (23,212,275) | | |
淨利息收入
|
| | | | 101,112,065 | | | | | | 101,614,256 | | |
有價證券和金融應收賬款銷售淨收益
|
| | | | 12,894,541 | | | | | | 45,229,877 | | |
出售房地產項目和持有待售土地的淨收益
|
| | | | 15,930,239 | | | | | | — | | |
交易有價證券和投資私募基金的未實現淨收益
|
| | | | 152,774 | | | | | | 3,419,555 | | |
衍生證券淨虧損
|
| | | | (9,005,027) | | | | | | (10,418,157) | | |
其他
|
| | | | 352,147 | | | | | | 578,956 | | |
總收入
|
| | | | 121,436,739 | | | | | | 140,424,487 | | |
費用: | | | | | | | | | | | | | |
臨時減值費用以外的安全費用
|
| | | | 10,000,000 | | | | | | — | | |
應收財務信用損失準備金
|
| | | | 3,291 | | | | | | 76,663 | | |
薪酬
|
| | | | 15,228,236 | | | | | | 15,963,708 | | |
管理和其他操作
|
| | | | 7,787,280 | | | | | | 10,321,280 | | |
總費用
|
| | | | 33,018,807 | | | | | | 26,361,651 | | |
淨收入
|
| | | | 88,417,932 | | | | | | 114,062,836 | | |
可歸因於非控股權益的淨收入
|
| | | | 714,667 | | | | | | — | | |
會員資本應佔淨收益
|
| | | $ | 87,703,265 | | | | | | 114,062,836 | | |
|
| | |
2020
|
| |
2019
|
| ||||||
淨收入
|
| | | $ | 88,417,932 | | | | | | 114,062,836 | | |
其他綜合收益: | | | | | | | | | | | | | |
可供出售證券投資的未實現收益:
|
| | | | | | | | | | | | |
期內產生的未實現持有淨收益
|
| | | | 36,609,177 | | | | | | 109,845,462 | | |
淨收入中包含的收益的重新分類調整較少
|
| | | | (8,641,472) | | | | | | (35,202,895) | | |
可供出售證券公允價值變動
|
| | | | 27,967,705 | | | | | | 74,642,567 | | |
綜合收益
|
| | | | 116,385,637 | | | | | | 188,705,403 | | |
可歸因於非控股權益的不太全面的收入
|
| | | | (714,667) | | | | | | — | | |
會員資本應佔淨綜合收益
|
| | | $ | 115,670,970 | | | | | | 188,705,403 | | |
|
| | |
會員‘
貢獻 大寫 |
| |
保留
收入 |
| |
累計
其他 全面 收入 |
| |
非控制性
對 的興趣 合併 實體 |
| |
合計
股權 |
| |||||||||||||||
2018年12月31日的餘額
|
| | | $ | 924,810,807 | | | | | | 248,497,336 | | | | | | 12,720,256 | | | | | | 600,000 | | | | | | 1,186,628,399 | | |
會員資本發行
|
| | | | 226,591,209 | | | | | | — | | | | | | — | | | | | | — | | | | | | 226,591,209 | | |
成員分發
|
| | | | (65,367,667) | | | | | | — | | | | | | — | | | | | | — | | | | | | (65,367,667) | | |
淨收入
|
| | | | — | | | | | | 114,062,836 | | | | | | — | | | | | | — | | | | | | 114,062,836 | | |
其他綜合收益
|
| | | | — | | | | | | — | | | | | | 74,642,567 | | | | | | — | | | | | | 74,642,567 | | |
2019年12月31日的餘額
|
| | | | 1,086,034,349 | | | | | | 362,560,172 | | | | | | 87,362,823 | | | | | | 600,000 | | | | | | 1,536,557,344 | | |
成員分發
|
| | | | (91,898,791) | | | | | | — | | | | | | — | | | | | | — | | | | | | (91,898,791) | | |
淨收入
|
| | | | — | | | | | | 87,703,265 | | | | | | — | | | | | | 714,667 | | | | | | 88,417,932 | | |
其他綜合收益
|
| | | | — | | | | | | — | | | | | | 27,967,705 | | | | | | — | | | | | | 27,967,705 | | |
2020年12月31日的餘額
|
| | | $ | 994,135,558 | | | | | | 450,263,437 | | | | | | 115,330,528 | | | | | | 1,314,667 | | | | | | 1,561,044,190 | | |
|
| | |
2020
|
| |
2019
|
| ||||||
經營活動現金流: | | | | | | | | | | | | | |
淨收入
|
| | | $ | 88,417,932 | | | | | | 114,062,836 | | |
將淨收入與經營活動提供的淨現金進行調整:
|
| | | | | | | | | | | | |
出售房地產項目和待售土地實現收益
|
| | | | (15,930,239) | | | | | | — | | |
出售可供出售證券的實現收益
|
| | | | (8,641,472) | | | | | | (35,202,895) | | |
出售交易證券實現收益
|
| | | | (3,232) | | | | | | (2,063,743) | | |
銷售應收賬款實現收益
|
| | | | (4,249,837) | | | | | | (7,963,239) | | |
衍生證券已實現虧損
|
| | | | 7,963,585 | | | | | | 9,352,878 | | |
交易證券的未實現(收益)損失
|
| | | | 46,071 | | | | | | (3,261,007) | | |
私募基金投資未實現收益
|
| | | | (198,845) | | | | | | (158,548) | | |
臨時減值費用以外的安全費用
|
| | | | 10,000,000 | | | | | | — | | |
金融應收證券和有價證券的折價攤銷和費用增加
|
| | | | (15,850,272) | | | | | | (19,574,760) | | |
超過確認收入的收款
|
| | | | 3,187,995 | | | | | | 4,095,828 | | |
應收財務信用損失準備金
|
| | | | 3,291 | | | | | | 76,663 | | |
傢俱、固定裝置和設備折舊及攤銷
|
| | | | 257,578 | | | | | | 291,331 | | |
出售交易證券的收益
|
| | | | 296,058,744 | | | | | | 93,990,424 | | |
購買交易證券
|
| | | | (309,409,538) | | | | | | (38,297,256) | | |
經營性資產和負債變動:
|
| | | | | | | | | | | | |
應收利息
|
| | | | (2,870,256) | | | | | | (4,845,602) | | |
其他資產
|
| | | | (6,143,673) | | | | | | (12,406,112) | | |
應付帳款和其他負債
|
| | | | (3,783,454) | | | | | | 6,707,587 | | |
經營活動提供的淨現金
|
| | | | 38,854,378 | | | | | | 104,804,385 | | |
投資活動現金流: | | | | | | | | | | | | | |
購買可供出售的證券
|
| | | | (371,056,851) | | | | | | (442,935,030) | | |
出售和贖回可供出售證券的收益
|
| | | | 249,048,388 | | | | | | 420,439,934 | | |
應收財務投資
|
| | | | (25,000,418) | | | | | | (59,708,315) | | |
金融應收賬款的出售和償還收益
|
| | | | 46,367,018 | | | | | | 89,587,975 | | |
房地產項目投資和自有房地產
|
| | | | (12,254,788) | | | | | | (5,838,441) | | |
出售房地產項目和自有房地產的收益
|
| | | | 35,920,766 | | | | | | — | | |
持有待售土地的投資
|
| | | | (9,500) | | | | | | (38,817) | | |
出售持有待售土地的收益
|
| | | | 2,550,525 | | | | | | — | | |
傢俱、固定裝置和設備採購
|
| | | | (31,248) | | | | | | (26,204) | | |
投資活動提供的淨現金(用於)
|
| | | | (74,466,108) | | | | | | 1,481,102 | | |
融資活動現金流: | | | | | | | | | | | | | |
會員出資淨收益
|
| | | | — | | | | | | 225,316,209 | | |
向第三方淨髮行受益權益
|
| | | | 8,469,750 | | | | | | 242,010,000 | | |
分配給第三方持有的實益權益
|
| | | | (10,878,150) | | | | | | (10,153,367) | | |
借款(償還)的淨收益
|
| | | | 5,827,798 | | | | | | (309,837,076) | | |
淨償還融資租賃負債
|
| | | | (195,414) | | | | | | (5,736) | | |
分發給成員
|
| | | | (91,898,791) | | | | | | (65,367,667) | | |
融資活動提供的淨現金(用於)
|
| | | | (88,674,807) | | | | | | 81,962,363 | | |
現金及現金等價物和限制性現金淨(減)增
|
| | | | (124,286,537) | | | | | | 188,247,850 | | |
年初現金及現金等價物和限制性現金
|
| | | | 212,507,292 | | | | | | 24,259,442 | | |
年終現金和現金等價物以及限制性現金
|
| | | $ | 88,220,755 | | | | | | 212,507,292 | | |
補充披露現金流信息: | | | | | | | | | | | | | |
本年度支付的現金:
|
| | | | | | | | | | | | |
利息
|
| | | $ | 22,335,695 | | | | | | 21,657,068 | | |
| | |
2020
|
| |
2019
|
| ||||||
貸款: | | | | | | | | | | | | | |
抵押貸款
|
| | | $ | 32,312,282 | | | | | | 37,301,529 | | |
一般義務
|
| | | | — | | | | | | 9,350,966 | | |
單一家庭評估
|
| | | | 8,178,682 | | | | | | 8,330,101 | | |
| | | | | 40,490,964 | | | | | | 54,982,596 | | |
其他財務應收賬款: | | | | | | | | | | | | | |
應收報銷款
|
| | | | 36,501,976 | | | | | | 56,732,299 | | |
賬面總價值
|
| | | $ | 76,992,940 | | | | | | 111,714,895 | | |
截至2013年12月31日的年份:
|
| | | | | | |
2021
|
| | | $ | 34,383,947 | | |
2022
|
| | | | 10,717,051 | | |
2023
|
| | | | 2,133,416 | | |
2024
|
| | | | 2,449,048 | | |
此後
|
| | | | 27,309,478 | | |
| | | | $ | 76,992,940 | | |
| | |
2020
|
| |
2019
|
| ||||||||||||||||||
| | |
貸款
|
| |
其他財務
應收賬款 |
| |
貸款
|
| |
其他財務
應收賬款 |
| ||||||||||||
購買
|
| | | $ | — | | | | | | — | | | | | | — | | | | | | 1,744,399 | | |
銷售額
|
| | | | — | | | | | | — | | | | | | — | | | | | | (20,209,000) | | |
傳輸到HFS
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
貸款
|
| |
其他財務
應收賬款 |
| |
2020
|
| |
貸款
|
| |
其他財務
應收賬款 |
| |
2019
|
| ||||||||||||||||||
年初餘額
|
| | | $ | 466,202 | | | | | | — | | | | | | 466,202 | | | | | | 389,539 | | | | | | — | | | | | | 389,539 | | |
調配
|
| | | | 3,291 | | | | | | — | | | | | | 3,291 | | | | | | 76,663 | | | | | | — | | | | | | 76,663 | | |
沖銷
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | | |
恢復
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | | |
年終餘額
|
| | | $ | 469,493 | | | | | | — | | | | | | 469,493 | | | | | | 466,202 | | | | | | — | | | | | | 466,202 | | |
| | |
信貸損失準備
|
| |
財務應收賬款入賬
|
| | ||||||||||||||||||||||||||||||||
| | |
貸款
|
| |
其他
財務 應收賬款 |
| |
合計
|
| |
貸款
|
| |
其他
財務 應收賬款 |
| |
合計
|
| | | | ||||||||||||||||||
2020年12月31日 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
集體評估(1)
|
| | | $ | 469,493 | | | | | | — | | | | | | 469,493 | | | | | | 40,490,964 | | | | | | 36,501,976 | | | | | | 76,992,940 | | | | ||
單獨評估(2)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
合計
|
| | | $ | 469,493 | | | | | | — | | | | | | 469,493 | | | | | | 40,490,964 | | | | | | 36,501,976 | | | | | | 76,992,940 | | | | ||
2019年12月31日 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
集體評估(1)
|
| | | $ | 466,202 | | | | | | — | | | | | | 466,202 | | | | | | 54,982,596 | | | | | | 56,732,299 | | | | | | 111,714,895 | | | | ||
單獨評估(2)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | ||
合計
|
| | | $ | 466,202 | | | | | | — | | | | | | 466,202 | | | | | | 54,982,596 | | | | | | 56,732,299 | | | | | | 111,714,895 | | | |
| | |
12月31日
|
| |||||||||
| | |
2020
|
| |
2019
|
| ||||||
LTV: | | | | | | | | | | | | | |
0-60%
|
| | | $ | 24,174,107 | | | | | | 24,806,072 | | |
60.01-80%
|
| | | | — | | | | | | 20,825,558 | | |
80.01-100%
|
| | | | 16,316,857 | | | | | | — | | |
一般義務
|
| | | | — | | | | | | 9,350,966 | | |
貸款總額
|
| | | $ | 40,490,964 | | | | | | 54,982,596 | | |
| | |
12月31日
|
| |||||||||
| | |
2020
|
| |
2019
|
| ||||||
住宅開發績效狀態: | | | | | | | | | | | | | |
跑贏大盤
|
| | | $ | 361,839 | | | | | | 9,827,429 | | |
正在執行
|
| | | | 36,140,137 | | | | | | 46,904,870 | | |
表現不佳
|
| | | | — | | | | | | — | | |
其他財務應收賬款合計
|
| | | $ | 36,501,976 | | | | | | 56,732,299 | | |
| | |
2020年12月31日
|
| |||||||||||||||||||||
| | |
攤銷
成本 |
| |
毛收入
未實現 收益 |
| |
毛收入
未實現 虧損 |
| |
預計
公允價值 |
| ||||||||||||
交易證券: | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | $ | 43,491,535 | | | | | | 3,818,994 | | | | | | (45,682) | | | | | | 47,264,847 | | |
市政非優先債務證券
|
| | | | 9,245,799 | | | | | | — | | | | | | (152,272) | | | | | | 9,093,527 | | |
總交易量
|
| | | | 52,737,334 | | | | | | 3,818,994 | | | | | | (197,954) | | | | | | 56,358,374 | | |
可售證券: | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | | 1,491,657,605 | | | | | | 108,440,423 | | | | | | (1,622,365) | | | | | | 1,598,475,663 | | |
市政非優先債務證券
|
| | | | 143,493,511 | | | | | | 8,621,314 | | | | | | — | | | | | | 152,114,825 | | |
可供銷售總額
|
| | | | 1,635,151,116 | | | | | | 117,061,737 | | | | | | (1,622,365) | | | | | | 1,750,590,488 | | |
| | | | $ | 1,687,888,450 | | | | | | 120,880,731 | | | | | | (1,820,319) | | | | | | 1,806,948,862 | | |
| | |
2019年12月31日
|
| |||||||||||||||||||||
| | |
攤銷
成本 |
| |
毛收入
未實現 收益 |
| |
毛收入
未實現 虧損 |
| |
預計
公允價值 |
| ||||||||||||
交易證券: | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | $ | 30,372,486 | | | | | | 3,959,402 | | | | | | (22,997) | | | | | | 34,308,891 | | |
市政非優先債務證券
|
| | | | 8,701,106 | | | | | | 40,422 | | | | | | — | | | | | | 8,741,528 | | |
總交易量
|
| | | | 39,073,592 | | | | | | 3,999,824 | | | | | | (22,997) | | | | | | 43,050,419 | | |
可售證券: | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | | 1,404,172,299 | | | | | | 80,851,803 | | | | | | (714,557) | | | | | | 1,484,309,545 | | |
市政非優先債務證券
|
| | | | 134,151,654 | | | | | | 7,279,854 | | | | | | (80,672) | | | | | | 141,350,836 | | |
可供銷售總額
|
| | | | 1,538,323,953 | | | | | | 88,131,657 | | | | | | (795,229) | | | | | | 1,625,660,381 | | |
總證券
|
| | | $ | 1,577,397,545 | | | | | | 92,131,481 | | | | | | (818,226) | | | | | | 1,668,710,800 | | |
|
一年內到期
|
| | | $ | 21,174,586 | | |
|
一年至五年後到期
|
| | | | 41,620,690 | | |
|
五年至十年後到期
|
| | | | 95,451,859 | | |
|
十年後到期
|
| | | | 1,592,343,353 | | |
| | | | | $ | 1,750,590,488 | | |
| | |
不到12個月
|
| |
超過12個月
|
| |
合計
|
| |||||||||||||||||||||||||||
| | |
公允價值
|
| |
毛收入
未實現 虧損 |
| |
公允價值
|
| |
毛收入
未實現 虧損 |
| |
公允價值
|
| |
毛收入
未實現 虧損 |
| ||||||||||||||||||
可售證券: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | $ | 30,031,714 | | | | | | (1,424,851) | | | | | | 1,878,152 | | | | | | (197,514) | | | | | | 31,909,866 | | | | | | (1,622,365) | | |
市政非優先債務證券
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | $ | 30,031,714 | | | | | | (1,424,851) | | | | | | 1,878,152 | | | | | | (197,514) | | | | | | 31,909,866 | | | | | | (1,622,365) | | |
| | |
不到12個月
|
| |
超過12個月
|
| |
合計
|
| |||||||||||||||||||||||||||
| | |
公允價值
|
| |
毛收入
未實現 虧損 |
| |
公允價值
|
| |
毛收入
未實現 虧損 |
| |
公允價值
|
| |
毛收入
未實現 虧損 |
| ||||||||||||||||||
可售證券:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | $ | 29,331,471 | | | | | | (287,452) | | | | | | 24,394,176 | | | | | | (427,105) | | | | | | 53,725,647 | | | | | | (714,557) | | |
市政非優先債務證券
|
| | | | 6,814,329 | | | | | | (80,672) | | | | | | — | | | | | | — | | | | | | 6,814,329 | | | | | | (80,672) | | |
| | | | $ | 36,145,800 | | | | | | (368,124) | | | | | | 24,394,176 | | | | | | (427,105) | | | | | | 60,539,976 | | | | | | (795,229) | | |
| | |
2020
|
| |
2019
|
| ||||||
土地融資租賃使用權資產
|
| | | $ | — | | | | | | 2,997,905 | | |
分配給在建建築物的租金
|
| | | | — | | | | | | 1,639,273 | | |
資本化的收購前成本和項目成本
|
| | | | 390,753 | | | | | | 2,294,124 | | |
房地產項目成本
|
| | | $ | 390,753 | | | | | | 6,931,302 | | |
| | |
賬面價值-資產(負債)
|
| |||||||||||||||||||||
2020年12月31日
|
| |
總計VIE
資產 |
| |
財務
應收賬款 |
| |
可供銷售
債務證券 |
| |
淨資產
|
| ||||||||||||
應收賬款
|
| | | $ | 19,723,000 | | | | | | 1,063,246 | | | | | | — | | | | | | 1,063,246 | | |
購買的税收權利
|
| | | | 81,154,000 | | | | | | — | | | | | | 45,007,240 | | | | | | 45,007,240 | | |
| | | | $ | 100,877,000 | | | | | | 1,063,246 | | | | | | 45,007,240 | | | | | | 46,070,486 | | |
| | |
賬面價值-資產(負債)
|
| |||||||||||||||||||||
2019年12月31日
|
| |
總計VIE
資產 |
| |
財務
應收賬款 |
| |
可供銷售
債務證券 |
| |
淨資產
|
| ||||||||||||
購買的税收權利
|
| | | $ | 82,598,000 | | | | | | — | | | | | | 42,689,382 | | | | | | 42,689,382 | | |
| | | | $ | 82,598,000 | | | | | | — | | | | | | 42,689,382 | | | | | | 42,689,382 | | |
| | |
2020
|
| |
2019
|
| ||||||
現金
|
| | | $ | 19,678,175 | | | | | | 8,340,922 | | |
應收應計利息
|
| | | | 8,237,462 | | | | | | 8,599,961 | | |
投資信託持有的有價證券
|
| | | | 488,644,137 | | | | | | 504,163,521 | | |
淨資產總額
|
| | | $ | 516,559,774 | | | | | | 521,104,404 | | |
| | |
2020
|
| |
2019
|
| ||||||
短期TOB信託融資
|
| | | | — | | | | | | 118,518,569 | | |
總回報掉期
|
| | | | 13,090,000 | | | | | | — | | |
定期應税AB信託融資
|
| | | | 149,874,352 | | | | | | — | | |
定期TOB信託融資
|
| | | | — | | | | | | 38,617,985 | | |
擔保借款總額
|
| | | $ | 162,964,352 | | | | | | 157,136,554 | | |
資產(負債)
|
| |
攜帶
金額 |
| |
一級
|
| |
二級
|
| |
第三級
|
| |
公允價值
|
| |||||||||||||||
有價證券投資:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
交易:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政債券證券
|
| | | $ | 56,358,374 | | | | | | — | | | | | | 47,264,847 | | | | | | 9,093,527 | | | | | | 56,358,374 | | |
| | | | | 56,358,374 | | | | | | — | | | | | | 47,264,847 | | | | | | 9,093,527 | | | | | | 56,358,374 | | |
可供銷售:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政債券證券
|
| | | | 1,750,590,488 | | | | | | — | | | | | | 1,415,552,416 | | | | | | 335,038,072 | | | | | | 1,750,590,488 | | |
總銷路
證券 |
| | | | 1,806,948,862 | | | | | | — | | | | | | 1,462,817,263 | | | | | | 344,131,599 | | | | | | 1,806,948,862 | | |
逆回購協議,淨額
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
逆回購協議
|
| | | | 65,041,913 | | | | | | — | | | | | | 65,041,913 | | | | | | — | | | | | | 65,041,913 | | |
回購協議
|
| | | | (61,231,113) | | | | | | — | | | | | | (61,231,113) | | | | | | — | | | | | | (61,231,113) | | |
美國國債賣空
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
逆回購
協議,淨額 |
| | | | 3,810,800 | | | | | | — | | | | | | 3,810,800 | | | | | | — | | | | | | 3,810,800 | | |
| | | | $ | 1,810,759,662 | | | | | | — | | | | | | 1,466,628,063 | | | | | | 344,131,599 | | | | | | 1,810,759,662 | | |
資產(負債)
|
| |
攜帶
金額 |
| |
一級
|
| |
二級
|
| |
第三級
|
| |
公允價值
|
| |||||||||||||||
有價證券投資:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
交易
|
| | | | : | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政債券證券
|
| | | $ | 43,050,419 | | | | | | — | | | | | | 34,308,892 | | | | | | 8,741,527 | | | | | | 43,050,419 | | |
| | | | | 43,050,419 | | | | | | — | | | | | | 34,308,892 | | | | | | 8,741,527 | | | | | | 43,050,419 | | |
可供銷售:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政債券證券
|
| | | | 1,625,660,381 | | | | | | — | | | | | | 1,373,079,214 | | | | | | 252,581,167 | | | | | | 1,625,660,381 | | |
總銷路
證券 |
| | | | 1,668,710,800 | | | | | | — | | | | | | 1,407,388,106 | | | | | | 261,322,694 | | | | | | 1,668,710,800 | | |
逆回購協議,淨額
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
逆回購協議
|
| | | | 58,097,809 | | | | | | — | | | | | | 58,097,809 | | | | | | — | | | | | | 58,097,809 | | |
美國國債賣空
|
| | | | (53,280,561) | | | | | | — | | | | | | (53,280,561) | | | | | | — | | | | | | (53,280,561) | | |
逆回購
協議,淨額 |
| | | | 4,817,248 | | | | | | — | | | | | | 4,817,248 | | | | | | — | | | | | | 4,817,248 | | |
| | | | $ | 1,673,528,048 | | | | | | — | | | | | | 1,412,205,354 | | | | | | 261,322,694 | | | | | | 1,673,528,048 | | |
| | |
的公允價值
12月31日 2020 |
| |
估值
技巧 |
| |
看不見
輸入 |
| |
範圍
(加權 輸入 平均) |
| |||
有價證券投資:
|
| | | | | | | | | | | | | | | |
交易:
|
| | | | | | | | | | | | | | | |
市政債務
投資 |
| | | $ | 9,093,527 | | | |
貼現現金流
|
| |
牆
|
| |
18.7年
|
|
| | | | | | | | | | | |
良率
|
| |
9.0%
|
|
可供銷售:
|
| | | | | | | | | | | | | | | |
市政債務
投資 |
| | | | 74,819,300 | | | |
基於
的市場定價
最近的交易 |
| |
價格
|
| |
$45.00-$100.00
$(71.99) |
|
| | | | | | | | | | | | | | |
0.5-41.4年
|
|
| | | | | 260,218,772 | | | |
貼現現金流
|
| |
牆
|
| |
(18.5年)
|
|
| | | | | | | | | | | |
良率
|
| |
6% – 11% (10)%
|
|
| | | | | 335,038,072 | | | | | | | | | | | |
合計
|
| | | $ | 344,131,599 | | | | | | | | | | | |
| | |
的公允價值
12月31日 2019 |
| |
估值
技巧 |
| |
看不見
輸入 |
| |
範圍
(加權 輸入 平均) |
| |||
適銷對路的投資
證券: |
| | | | | | | | | | | | | | | |
交易:
|
| | | | | | | | | | | | | | | |
市政債務
|
| | | | | | | | | | | | | | | |
投資
|
| | | $ | 8,741,527 | | | |
貼現現金流
|
| |
牆
|
| |
21.2年
|
|
| | | | | | | | | | | |
良率
|
| |
9.0%
|
|
可供銷售:
|
| | | | | | | | | | | | | | | |
市政債務
|
| | | | | | | | | | | | | | | |
投資
|
| | | | 111,077,098 | | | |
基於
的市場定價
最近的交易 價格 |
| |
$(97.82)
|
| |
$95.00 – $104.00
|
|
| | | | | | | | | | | | | | | | |
| | | | | 141,504,069 | | | |
貼現現金流
|
| |
牆
|
| |
0.2 - 29.0年
(13.2年) |
|
| | | | | | | | | | | |
良率
|
| |
6% – 12% (10)%
|
|
| | | | | 252,581,167 | | | | | | | | | | | |
合計
|
| | | $ | 261,322,694 | | | | | | | | | | | |
| | |
開始
餘額 1月1日 2020 |
| |
未實現
得(損) |
| |
購買
|
| |
實現了
得(損) |
| |
減損
費用 |
| |
折扣
攤銷 (高級 堆積) |
| |
銷售額/
贖回 |
| |
轉賬
已超出 已超出 3級 |
| |
轉賬
轉換為 3級 |
| |
結束
餘額 12月31日 2020 |
| |
更改
未實現 收益 年( ) 投資 仍被關押在 12月31日 2020 |
| |||||||||||||||||||||||||||||||||
對
的投資
有價證券: |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
交易
|
| | | $ | 8,741,527 | | | | | | (192,693) | | | | | | 544,693 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,093,527 | | | | | | (192,693) | | |
可供銷售
|
| | | | 252,581,167 | | | | | | 5,121,857 | | | | | | 7,593,185 | | | | | | — | | | | | | (10,000,000) | | | | | | 8,609,806 | | | | | | (16,066,572) | | | | | | (19,391,884) | | | | | | 106,590,513 | | | | | | 335,038,072 | | | | | | 2,777,685 | | |
| | | | $ | 261,322,694 | | | | | | 4,929,164 | | | | | | 8,137,878 | | | | | | — | | | | | | (10,000,000) | | | | | | 8,609,806 | | | | | | (16,066,572) | | | | | | (19,391,884) | | | | | | 106,590,513 | | | | | | 344,131,599 | | | | | | 2,584,992 | | |
| | |
開始
餘額 1月1日 2019 |
| |
未實現
得(損) |
| |
購買
|
| |
實現了
得(損) |
| |
折扣
攤銷 (高級版 堆積) |
| |
銷售額/
贖回 |
| |
轉賬
已超出 已超出 3級 |
| |
轉賬
轉換為 3級 |
| |
結束
餘額 12月31日 2019 |
| |
更改
未實現 收益 年( ) 投資 仍被關押在 12月31日 2019 |
| ||||||||||||||||||||||||||||||
對 的投資 | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
有價證券: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
交易
|
| | | $ | 32,201,824 | | | | | | (143,302) | | | | | | — | | | | | | 639,099 | | | | | | 503,118 | | | | | | (24,459,212) | | | | | | — | | | | | | — | | | | | | 8,741,527 | | | | | | (32,075) | | |
可供銷售
|
| | | | 203,272,323 | | | | | | (657,975) | | | | | | 7,642,640 | | | | | | 4,827,690 | | | | | | 6,579,507 | | | | | | (61,407,864) | | | | | | (16,619,696) | | | | | | 108,944,542 | | | | | | 252,581,167 | | | | | | 1,796,068 | | |
| | | | $ | 235,474,147 | | | | | | (801,277) | | | | | | 7,642,640 | | | | | | 5,466,789 | | | | | | 7,082,625 | | | | | | (85,867,076) | | | | | | (16,619,696) | | | | | | 108,944,542 | | | | | | 261,322,694 | | | | | | 1,763,993 | | |
| | |
估計公允價值
|
| |||||||||||||||||||||||||||
| | |
賬面金額
|
| |
一級
|
| |
二級
|
| |
第三級
|
| |
合計
|
| |||||||||||||||
2020年12月31日 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
金融資產 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
現金及現金等價物和
受限現金 |
| | | $ | 88,220,755 | | | | | | 88,220,755 | | | | | | — | | | | | | — | | | | | | 88,220,755 | | |
應收財務投資
|
| | | | 76,523,447 | | | | | | — | | | | | | — | | | | | | 78,503,682 | | | | | | 78,503,682 | | |
投資私募基金
|
| | | | 1,418,472 | | | | | | — | | | | | | 1,418,472 | | | | | | — | | | | | | 1,418,472 | | |
金融總資產
|
| | | $ | 166,162,674 | | | | | | 88,220,755 | | | | | | 1,418,472 | | | | | | 78,503,682 | | | | | | 168,142,909 | | |
金融負債 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
擔保借款
|
| | | $ | 162,964,352 | | | | | | — | | | | | | 162,964,352 | | | | | | — | | | | | | 162,964,352 | | |
合併實體中可強制贖回的非控股權益
|
| | | | 330,817,000 | | | | | | — | | | | | | — | | | | | | 333,762,530 | | | | | | 333,762,530 | | |
金融負債總額
|
| | | $ | 493,781,352 | | | | | | — | | | | | | 162,964,352 | | | | | | 333,762,530 | | | | | | 496,726,882 | | |
| | |
估計公允價值
|
| |||||||||||||||||||||||||||
| | |
賬面金額
|
| |
一級
|
| |
二級
|
| |
第三級
|
| |
合計
|
| |||||||||||||||
2019年12月31日 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
金融資產 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
現金和現金等價物以及限制性現金
|
| | | $ | 212,507,292 | | | | | | 212,507,292 | | | | | | — | | | | | | — | | | | | | 212,507,292 | | |
應收財務投資
|
| | | | 111,248,693 | | | | | | — | | | | | | — | | | | | | 117,390,475 | | | | | | 117,390,475 | | |
投資私募基金
|
| | | | 1,219,627 | | | | | | — | | | | | | 1,219,627 | | | | | | — | | | | | | 1,219,627 | | |
金融總資產
|
| | | $ | 324,975,612 | | | | | | 212,507,292 | | | | | | 1,219,627 | | | | | | 117,390,475 | | | | | | 331,117,394 | | |
金融負債 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
擔保借款
|
| | | $ | 157,136,554 | | | | | | — | | | | | | 157,136,554 | | | | | | — | | | | | | 157,136,554 | | |
合併實體中可強制贖回的非控股權益
|
| | | | 333,225,400 | | | | | | — | | | | | | — | | | | | | 338,140,850 | | | | | | 338,140,850 | | |
金融負債總額
|
| | | $ | 490,361,954 | | | | | | — | | | | | | 157,136,554 | | | | | | 338,140,850 | | | | | | 495,277,404 | | |
| | |
毛收入
金額 已識別 資產(負債) |
| |
毛收入
金額 中的偏移量 合併 資產負債表 |
| |
淨額
資產的 個 (負債) 顯示在 中 合併 資產負債表 |
| |
合併資產負債表中未抵銷的金額
|
| ||||||||||||||||||||||||||||||
|
財務
儀器 (策略 選舉)(1) |
| |
財務
儀器 (會計 條件不是 會議)(2) |
| |
財務
抵押品資產 已承諾(3) |
| |
淨額
|
| ||||||||||||||||||||||||||||||||
描述: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
逆回購
協議資產 |
| | | $ | 65,041,913 | | | | | | (61,231,113) | | | | | | 3,810,800 | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,810,800 | | |
擔保借款:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
TOB信託債務融資
|
| | | | (149,874,352) | | | | | | — | | | | | | (149,874,352) | | | | | | — | | | | | | — | | | | | | 149,874,352 | | | | | | — | | |
總回報掉期
|
| | | | (13,090,000) | | | | | | — | | | | | | (13,090,000) | | | | | | — | | | | | | — | | | | | | 13,090,000 | | | | | | — | | |
合計
|
| | | $ | (97,922,439) | | | | | | (61,231,113) | | | | | | (159,153,552) | | | | | | — | | | | | | — | | | | | | 162,964,352 | | | | | | 3,810,800 | | |
| | |
毛收入
金額 已識別 資產(負債) |
| |
毛收入
金額 中的偏移量 合併 資產負債表 |
| |
淨額
資產的 個 (負債) 顯示在 中 合併 資產負債表 |
| |
合併資產負債表中未抵銷的金額
|
| ||||||||||||||||||||||||||||||
|
財務
儀器 (策略 選舉)(1) |
| |
財務
儀器 (會計 條件不是 會議)(2) |
| |
財務
抵押品資產 已承諾(3) |
| |
淨額
|
| ||||||||||||||||||||||||||||||||
描述: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
逆回購
協議資產 |
| | | $ | 58,097,809 | | | | | | (53,280,561) | | | | | | 4,817,248 | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,817,248 | | |
擔保借款:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
TOB信託債務融資
|
| | | | (157,136,554) | | | | | | — | | | | | | (157,136,554) | | | | | | — | | | | | | — | | | | | | 157,136,554 | | | | | | — | | |
合計
|
| | | $ | (99,038,745) | | | | | | (53,280,561) | | | | | | (152,319,306) | | | | | | — | | | | | | — | | | | | | 157,136,554 | | | | | | 4,817,248 | | |
| | |
2020
|
| |
2019
|
| ||||||
應計獎勵費用
|
| | | $ | 7,700,000 | | | | | | 8,975,460 | | |
應付賬款和應計費用
|
| | | | 4,569,380 | | | | | | 3,923,020 | | |
應計利息支出
|
| | | | 1,152,515 | | | | | | 3,777,797 | | |
融資租賃負債
|
| | | | — | | | | | | 1,095,141 | | |
經營租賃負債
|
| | | | 303,714 | | | | | | 996,362 | | |
購買的有價證券尚未結算
|
| | | | 1,513 | | | | | | 1,502,854 | | |
應付帳款和其他負債合計
|
| | | $ | 13,727,122 | | | | | | 20,270,634 | | |
可分配給辦公室運營租賃的租賃付款
|
| | | | | | |
2021
|
| | | $ | 247,982 | | |
2022
|
| | | | 63,964 | | |
| | | | $ | 311,946 | | |
經營租賃負債現值
|
| | | $ | 303,714 | | |
| | |
2021年3月31日
(未審核) |
| |
2020年12月31日
|
| ||||||
資產
|
| | | ||||||||||
現金和現金等價物
|
| | | $ | 67,132,433 | | | | | | 66,543,580 | | |
受限現金
|
| | | | 5,242,259 | | | | | | 21,677,175 | | |
有價證券投資,公允價值(成本763,164,092美元和726,613,174美元)
|
| | | | 817,644,815 | | | | | | 765,962,052 | | |
以公允價值以信託形式持有的有價證券投資(成本為883,932,821美元和961,275,276美元)
|
| | | | 974,570,223 | | | | | | 1,040,986,810 | | |
財務應收賬款投資,扣除可能的損失準備分別為462,690美元和469,493美元
|
| | | | 71,790,904 | | | | | | 76,523,447 | | |
投資私募基金
|
| | | | 1,597,549 | | | | | | 1,418,472 | | |
應收利息
|
| | | | 36,551,394 | | | | | | 33,677,772 | | |
應收逆回購,淨額
|
| | | | 2,643,483 | | | | | | 3,810,800 | | |
自有房產
|
| | | | 70,397,718 | | | | | | 47,374,503 | | |
其他資產
|
| | | | 10,386,454 | | | | | | 10,578,053 | | |
總資產
|
| | | $ | 2,057,957,232 | | | | | | 2,068,552,664 | | |
負債和股權
|
| | | | | | | | | | | | |
應付帳款和其他負債
|
| | | $ | 32,475,267 | | | | | | 13,727,122 | | |
擔保借款
|
| | | | 162,975,439 | | | | | | 162,964,352 | | |
合併實體中可強制贖回的非控股權益
|
| | | | 347,524,350 | | | | | | 330,817,000 | | |
總負債
|
| | | | 542,975,056 | | | | | | 507,508,474 | | |
會員權益: | | | | | | | | | | | | | |
出資
|
| | | | 887,520,606 | | | | | | 994,135,558 | | |
留存收益
|
| | | | 482,805,144 | | | | | | 450,263,437 | | |
累計其他綜合收益
|
| | | | 143,341,759 | | | | | | 115,330,528 | | |
會員權益合計
|
| | | | 1,513,667,509 | | | | | | 1,559,729,523 | | |
合併實體中的非控股權益
|
| | | | 1,314,667 | | | | | | 1,314,667 | | |
總股本
|
| | | | 1,514,982,176 | | | | | | 1,561,044,190 | | |
負債和權益合計
|
| | | $ | 2,057,957,232 | | | | | | 2,068,552,664 | | |
| | |
2021年3月31日
|
| |
2020年3月31日
|
| ||||||
收入: | | | | | | | | | | | | | |
有價證券利息收入
|
| | | $ | 26,605,051 | | | | | | 26,063,681 | | |
應收金融賬款利息收入
|
| | | | 1,808,989 | | | | | | 3,231,107 | | |
利息支出
|
| | | | (4,485,661) | | | | | | (4,816,505) | | |
淨利息收入
|
| | | | 23,928,379 | | | | | | 24,478,283 | | |
有價證券和金融應收賬款銷售淨收益
|
| | | | 9,133,809 | | | | | | 1,627,458 | | |
交易有價證券和投資私募基金的未實現淨虧損
|
| | | | (1,527,566) | | | | | | (1,210,431) | | |
衍生證券淨收益(虧損)
|
| | | | 8,299,357 | | | | | | (12,523,329) | | |
REO營業收入
|
| | | | 1,396,166 | | | | | | — | | |
其他
|
| | | | 60,661 | | | | | | 170,871 | | |
總收入
|
| | | | 41,290,806 | | | | | | 12,542,852 | | |
費用: | | | | | | | | | | | | | |
應收財務信用損失撥備(收回)
|
| | | | (6,803) | | | | | | 38,653 | | |
REO運營費用
|
| | | | 1,714,491 | | | | | | — | | |
薪酬
|
| | | | 4,444,098 | | | | | | 2,757,154 | | |
管理和其他操作
|
| | | | 2,597,313 | | | | | | 1,287,356 | | |
總費用
|
| | | | 8,749,099 | | | | | | 4,083,163 | | |
淨收入
|
| | | | 32,541,707 | | | | | | 8,459,689 | | |
可歸因於非控股權益的淨收入
|
| | | | — | | | | | | — | | |
會員資本淨收入
|
| | | $ | 32,541,707 | | | | | | 8,459,689 | | |
| | |
2021年3月31日
|
| |
2020年3月31日
|
| ||||||
淨收入
|
| | | $ | 32,541,707 | | | | | | 8,459,689 | | |
其他綜合收益(虧損): | | | | | | | | | | | | | |
可供出售證券投資的未實現收益(虧損):
|
| | | | | | | | | | | | |
期間產生的未實現持有淨收益(虧損)
|
| | | | 36,943,567 | | | | | | (83,015,515) | | |
淨收入中包含的收益的重新分類調整較少
|
| | | | (8,932,336) | | | | | | (1,323,747) | | |
可供出售證券公允價值變動
|
| | | | 28,011,231 | | | | | | (84,339,262) | | |
綜合收益(虧損)
|
| | | | 60,552,938 | | | | | | (75,879,573) | | |
可歸因於非控股權益的較不全面的收益(虧損)
|
| | | | — | | | | | | — | | |
會員資本應佔淨綜合收益(虧損)
|
| | | $ | 60,552,938 | | | | | | (75,879,573) | | |
| | |
會員‘
貢獻 大寫 |
| |
保留
收入 |
| |
累計
其他 全面 收入 |
| |
非控制性
對 的興趣 合併 實體 |
| |
合計
股權 |
| |||||||||||||||
12月31日的餘額
2019 |
| | | $ | 1,086,034,349 | | | | | | 362,560,172 | | | | | | 87,362,823 | | | | | | 600,000 | | | | | | 1,536,557,344 | | |
成員分發
|
| | | | (90,938,263) | | | | | | — | | | | | | — | | | | | | — | | | | | | (90,938,263) | | |
淨收入
|
| | | | — | | | | | | 8,459,689 | | | | | | — | | | | | | — | | | | | | 8,459,689 | | |
其他綜合虧損
|
| | | | — | | | | | | — | | | | | | (84,339,262) | | | | | | — | | | | | | (84,339,262) | | |
2020年3月31日的餘額
|
| | | | 995,096,086 | | | | | | 371,019,861 | | | | | | 3,023,561 | | | | | | 600,000 | | | | | | 1,369,739,508 | | |
12月31日的餘額
2020 |
| | | | 994,135,558 | | | | | | 450,263,437 | | | | | | 115,330,528 | | | | | | 1,314,667 | | | | | | 1,561,044,190 | | |
成員分發
|
| | | | (106,614,952) | | | | | | — | | | | | | — | | | | | | — | | | | | | (106,614,952) | | |
淨收入
|
| | | | — | | | | | | 32,541,707 | | | | | | — | | | | | | — | | | | | | 32,541,707 | | |
其他綜合收益
|
| | | | — | | | | | | — | | | | | | 28,011,231 | | | | | | — | | | | | | 28,011,231 | | |
2021年3月31日的餘額
|
| | | $ | 887,520,606 | | | | | | 482,805,144 | | | | | | 143,341,759 | | | | | | 1,314,667 | | | | | | 1,514,982,176 | | |
| | |
2021年3月31日
|
| |
2020年3月31日
|
| ||||||
經營活動現金流: | | | | | | | | | | | | | |
淨收入
|
| | | $ | 32,541,707 | | | | | | 8,459,689 | | |
將淨收入與經營活動提供的淨現金進行調整:
|
| | | | | | | | | | | | |
出售可供出售的證券實現收益
|
| | | | (8,932,336) | | | | | | (1,323,747) | | |
出售交易證券實現收益
|
| | | | (201,473) | | | | | | (303,711) | | |
衍生證券實現收益
|
| | | | — | | | | | | (59,997) | | |
衍生證券未實現(收益)虧損
|
| | | | (8,606,250) | | | | | | 12,551,848 | | |
證券交易和私募基金投資的未實現虧損
|
| | | | 1,527,566 | | | | | | 1,210,431 | | |
金融應收證券和有價證券的折價攤銷和費用增加
|
| | | | (4,274,899) | | | | | | (4,303,720) | | |
超過確認收入收取的現金
|
| | | | 1,165,535 | | | | | | 1,577,966 | | |
應收財務信用損失撥備(釋放)
|
| | | | (6,803) | | | | | | 38,653 | | |
出售交易證券的收益
|
| | | | 13,416,193 | | | | | | 16,397,790 | | |
購買交易證券
|
| | | | (14,945,045) | | | | | | (23,584,270) | | |
經營性資產和負債變動:
|
| | | | | | | | | | | | |
應收利息
|
| | | | (4,457,209) | | | | | | 2,369,045 | | |
其他資產
|
| | | | 9,536,361 | | | | | | (2,707,560) | | |
應付帳款和其他負債
|
| | | | (4,594,434) | | | | | | (8,467,801) | | |
經營活動提供的淨現金
|
| | | | 12,168,913 | | | | | | 1,854,616 | | |
投資活動現金流: | | | | | | | | | | | | | |
購買可供出售的證券
|
| | | | (6,372,065) | | | | | | (78,164,847) | | |
出售和贖回可供出售證券的收益
|
| | | | 65,116,475 | | | | | | 22,630,906 | | |
應收財務投資
|
| | | | (766,042) | | | | | | (23,004,075) | | |
應收賬款的銷售和償還收益
|
| | | | 6,548,335 | | | | | | 6,949,780 | | |
房地產項目投資和自有房地產投資
|
| | | | (2,193,163) | | | | | | (3,142,778) | | |
持有待售土地的投資
|
| | | | (452,000) | | | | | | — | | |
投資活動提供(用於)的淨現金
|
| | | | 61,881,540 | | | | | | (74,731,014) | | |
融資活動現金流: | | | | | | | | | | | | | |
向第三方淨髮放受益權益
|
| | | | 69,900,000 | | | | | | — | | |
分配給第三方持有的受益權益
|
| | | | (53,192,650) | | | | | | (6,109,950) | | |
借款淨收益
|
| | | | 11,086 | | | | | | 334,905,974 | | |
淨償還融資租賃負債
|
| | | | — | | | | | | (6,475) | | |
分發給成員
|
| | | | (106,614,952) | | | | | | (90,938,263) | | |
融資活動提供的淨現金(用於)
|
| | | | (89,896,516) | | | | | | 237,851,286 | | |
現金及現金等價物和限制性現金淨(減)增
|
| | | | (15,846,063) | | | | | | 164,974,888 | | |
期初現金和現金等價物及限制性現金
|
| | | | 88,220,755 | | | | | | 212,507,292 | | |
期末現金和現金等價物及限制性現金
|
| | | $ | 72,374,692 | | | | | | 377,482,180 | | |
補充披露現金流信息: | | | | | | | | | | | | | |
期間支付的現金:
|
| | | | | | | | | | | | |
利息
|
| | | $ | 4,901,630 | | | | | | 5,635,146 | | |
| | |
3月31日
2021 |
| |
12月31日
2020 |
| ||||||
貸款: | | | | | | | | | | | | | |
抵押貸款
|
| | | $ | 32,740,531 | | | | | | 32,312,282 | | |
單一家庭評估
|
| | | | 5,443,145 | | | | | | 8,178,682 | | |
| | | | | 38,183,676 | | | | | | 40,490,964 | | |
其他財務應收賬款: | | | | | | | | | | | | | |
應收報銷款
|
| | | | 34,069,918 | | | | | | 36,501,976 | | |
賬面總價值
|
| | | $ | 72,253,594 | | | | | | 76,992,940 | | |
|
2021
|
| | | $ | 32,667,555 | | |
|
2022
|
| | | | 10,807,111 | | |
|
2023
|
| | | | 2,133,416 | | |
|
2024
|
| | | | 2,449,048 | | |
|
2025
|
| | | | 2,788,185 | | |
|
此後
|
| | | | 21,408,279 | | |
| | | | | $ | 72,253,594 | | |
| | |
貸款
|
| |
其他財務
應收賬款 |
| |
3月31日
2021 |
| |
貸款
|
| |
其他財務
應收賬款 |
| |
3月31日
2020 |
| ||||||||||||||||||
期初餘額
|
| | | $ | 469,493 | | | | | | — | | | | | | 469,493 | | | | | | 466,202 | | | | | | — | | | | | | 466,202 | | |
調配(恢復)
|
| | | | (6,803) | | | | | | — | | | | | | (6,803) | | | | | | 38,653 | | | | | | — | | | | | | 38,653 | | |
沖銷
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | | | | | — | | | | | | — | | |
恢復
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | | | | | — | | | | | | — | | |
餘額,期末
|
| | | $ | 462,690 | | | | | | — | | | | | | 462,690 | | | | | | 504,855 | | | | | | — | | | | | | 504,855 | | |
| | |
信用損失撥備
|
| |
金融應收賬款入賬
|
| ||||||||||||||||||||||||||||||
| | |
貸款
|
| |
其他財務
應收賬款 |
| |
合計
|
| |
貸款
|
| |
其他財務
應收賬款 |
| |
合計
|
| ||||||||||||||||||
2021年3月31日 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
集體評估(1)
|
| | | $ | 462,690 | | | | | | — | | | | | | 462,690 | | | | | | 38,183,676 | | | | | | 34,069,918 | | | | | | 72,253,594 | | |
單獨評估(2)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
合計
|
| | | $ | 462,690 | | | | | | — | | | | | | 462,690 | | | | | | 38,183,676 | | | | | | 34,069,918 | | | | | | 72,253,594 | | |
2020年12月31日 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
集體評估(1)
|
| | | $ | 469,493 | | | | | | — | | | | | | 469,493 | | | | | | 40,490,964 | | | | | | 36,501,976 | | | | | | 76,992,940 | | |
單獨評估(2)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
合計
|
| | | $ | 469,493 | | | | | | — | | | | | | 469,493 | | | | | | 40,490,964 | | | | | | 36,501,976 | | | | | | 76,992,940 | | |
| | |
3月31日
2021 |
| |
12月31日
2020 |
| ||||||
LTV: | | | | | | | | | | | | | |
0 – 60%
|
| | | $ | 21,492,255 | | | | | | 24,174,107 | | |
60.01 – 80%
|
| | | | — | | | | | | — | | |
80.01 – 100%
|
| | | | 16,691,421 | | | | | | 16,316,857 | | |
貸款總額
|
| | | $ | 38,183,676 | | | | | | 40,490,964 | | |
| | |
3月31日
2021 |
| |
12月31日
2020 |
| ||||||
住宅開發績效狀態: | | | | | | | | | | | | | |
跑贏大盤
|
| | | $ | 372,803 | | | | | | 361,839 | | |
正在執行
|
| | | | 33,697,115 | | | | | | 36,140,137 | | |
表現不佳
|
| | | | — | | | | | | — | | |
其他財務應收賬款合計
|
| | | $ | 34,069,918 | | | | | | 36,501,976 | | |
| | |
2021年3月31日
|
| |||||||||||||||||||||
| | |
攤銷
成本 |
| |
毛收入
未實現 收益 |
| |
毛收入
未實現 虧損 |
| |
預計
公允價值 |
| ||||||||||||
交易證券: | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | $ | 68,811,325 | | | | | | 2,022,721 | | | | | | (202,940) | | | | | | 70,631,106 | | |
市政非優先債務證券
|
| | | | 9,245,799 | | | | | | — | | | | | | (152,272) | | | | | | 9,093,527 | | |
總交易量
|
| | | | 78,057,124 | | | | | | 2,022,721 | | | | | | (355,212) | | | | | | 79,724,633 | | |
可售證券: | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | | 1,423,071,307 | | | | | | 132,806,971 | | | | | | (1,166,785) | | | | | | 1,554,711,493 | | |
市政非優先債務證券
|
| | | | 145,968,482 | | | | | | 11,810,430 | | | | | | — | | | | | | 157,778,912 | | |
可供銷售總額
|
| | | | 1,569,039,789 | | | | | | 144,617,401 | | | | | | (1,166,785) | | | | | | 1,712,490,405 | | |
總證券
|
| | | $ | 1,647,096,913 | | | | | | 146,640,122 | | | | | | (1,521,997) | | | | | | 1,792,215,038 | | |
| | |
2020年12月31日
|
| |||||||||||||||||||||
| | |
攤銷
成本 |
| |
毛收入
未實現 收益 |
| |
毛收入
未實現 虧損 |
| |
預計
公允價值 |
| ||||||||||||
交易證券: | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | $ | 43,491,535 | | | | | | 3,818,994 | | | | | | (45,682) | | | | | | 47,264,847 | | |
市政非優先債務證券
|
| | | | 9,245,799 | | | | | | — | | | | | | (152,272) | | | | | | 9,093,527 | | |
總交易量
|
| | | | 52,737,334 | | | | | | 3,818,994 | | | | | | (197,954) | | | | | | 56,358,374 | | |
可售證券: | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債務證券
|
| | | | 1,491,657,605 | | | | | | 108,440,423 | | | | | | (1,622,365) | | | | | | 1,598,475,663 | | |
市政非優先債務證券
|
| | | | 143,493,511 | | | | | | 8,621,314 | | | | | | — | | | | | | 152,114,825 | | |
可供銷售總額
|
| | | | 1,635,151,116 | | | | | | 117,061,737 | | | | | | (1,622,365) | | | | | | 1,750,590,488 | | |
總證券
|
| | | $ | 1,687,888,450 | | | | | | 120,880,731 | | | | | | (1,820,319) | | | | | | 1,806,948,862 | | |
|
一年內到期
|
| | | $ | 21,171,504 | | |
|
一年至五年後到期
|
| | | | 34,950,330 | | |
|
五年至十年後到期
|
| | | | 99,129,749 | | |
|
十年後到期
|
| | | | 1,557,238,822 | | |
| | | | | $ | 1,712,490,405 | | |
| | |
不到12個月
|
| |
超過12個月
|
| |
合計
|
| |||||||||||||||||||||||||||
| | |
公允價值
|
| |
毛收入
未實現 虧損 |
| |
公允價值
|
| |
毛收入
未實現 虧損 |
| |
公允價值
|
| |
毛收入
未實現 虧損 |
| ||||||||||||||||||
可售證券:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債
證券 |
| | | $ | 6,819,570 | | | | | | (13,079) | | | | | | 19,582,438 | | | | | | (1,153,706) | | | | | | 26,402,008 | | | | | | (1,166,785) | | |
市級非高級人員
債務證券 |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | $ | 6,819,570 | | | | | | (13,079) | | | | | | 19,582,438 | | | | | | (1,153,706) | | | | | | 26,402,008 | | | | | | (1,166,785) | | |
| | |
不到12個月
|
| |
超過12個月
|
| |
合計
|
| |||||||||||||||||||||||||||
| | |
公允價值
|
| |
毛收入
未實現 虧損 |
| |
公允價值
|
| |
毛收入
未實現 虧損 |
| |
公允價值
|
| |
毛收入
未實現 虧損 |
| ||||||||||||||||||
可售證券:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政優先債
證券 |
| | | $ | 30,031,714 | | | | | | (1,424,851) | | | | | | 1,878,152 | | | | | | (197,514) | | | | | | 31,909,866 | | | | | | (1,622,365) | | |
市級非高級人員
債務證券 |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | $ | 30,031,714 | | | | | | (1,424,851) | | | | | | 1,878,152 | | | | | | (197,514) | | | | | | 31,909,866 | | | | | | (1,622,365) | | |
| | | | | | | | |
賬面價值 - 資產(負債)
|
| |||||||||||||||
2021年3月31日
|
| |
總計VIE
資產 |
| |
財務
應收賬款 |
| |
可供銷售
債務證券 |
| |
淨資產
|
| ||||||||||||
應收賬款
|
| | | $ | 19,723,000 | | | | | | 1,088,698 | | | | | | — | | | | | | 1,088,698 | | |
購買的税收權利
|
| | | | 76,475,947 | | | | | | — | | | | | | 45,480,545 | | | | | | 45,480,545 | | |
| | | | $ | 96,198,947 | | | | | | 1,088,698 | | | | | | 45,480,545 | | | | | | 46,569,243 | | |
| | | | | | | | |
賬面價值 - 資產(負債)
|
| |||||||||||||||
2020年12月31日
|
| |
總計VIE
資產 |
| |
財務
應收賬款 |
| |
可供銷售
債務證券 |
| |
淨資產
|
| ||||||||||||
應收賬款
|
| | | $ | 19,723,000 | | | | | | 1,063,246 | | | | | | — | | | | | | 1,063,246 | | |
購買的税收權利
|
| | | | 81,154,000 | | | | | | — | | | | | | 45,007,240 | | | | | | 45,007,240 | | |
| | | | $ | 100,877,000 | | | | | | 1,063,246 | | | | | | 45,007,240 | | | | | | 46,070,486 | | |
| | |
2021年3月31日
|
| |
2020年12月31日
|
| ||||||
現金
|
| | | $ | 2,111,258 | | | | | | 19,678,175 | | |
應收應計利息
|
| | | | 9,007,409 | | | | | | 8,237,462 | | |
投資信託持有的有價證券
|
| | | | 534,377,606 | | | | | | 488,644,137 | | |
淨資產總額
|
| | | $ | 545,496,273 | | | | | | 516,559,774 | | |
| | |
2021年3月31日
|
| |
2020年12月31日
|
| ||||||
總回報掉期
|
| | | | 13,090,000 | | | | | | 13,090,000 | | |
定期應税AB信託融資
|
| | | | 149,885,439 | | | | | | 149,874,352 | | |
擔保借款總額
|
| | | $ | 162,975,439 | | | | | | 162,964,352 | | |
資產(負債)
|
| |
攜帶
金額 |
| |
一級
|
| |
二級
|
| |
第三級
|
| |
公允價值
|
| |||||||||||||||
有價證券投資:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
交易:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政債券證券
|
| | | $ | 79,724,633 | | | | | | — | | | | | | 70,631,106 | | | | | | 9,093,527 | | | | | | 79,724,633 | | |
| | | | | 79,724,633 | | | | | | — | | | | | | 70,631,106 | | | | | | 9,093,527 | | | | | | 79,724,633 | | |
可供銷售:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政債券證券
|
| | | | 1,712,490,405 | | | | | | — | | | | | | 1,375,570,803 | | | | | | 336,919,602 | | | | | | 1,712,490,405 | | |
有價證券總額
|
| | | | 1,792,215,038 | | | | | | — | | | | | | 1,446,201,909 | | | | | | 346,013,129 | | | | | | 1,792,215,038 | | |
逆回購協議,淨額
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
逆回購協議
|
| | | | 53,984,733 | | | | | | — | | | | | | 53,984,733 | | | | | | — | | | | | | 53,984,733 | | |
回購協議
|
| | | | (51,341,250) | | | | | | — | | | | | | (51,341,250) | | | | | | — | | | | | | (51,341,250) | | |
美國國債賣空
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
逆回購協議,淨額
|
| | | | 2,643,483 | | | | | | — | | | | | | 2,643,483 | | | | | | — | | | | | | 2,643,483 | | |
| | | | $ | 1,794,858,521 | | | | | | — | | | | | | 1,448,845,392 | | | | | | 346,013,129 | | | | | | 1,794,858,521 | | |
資產(負債)
|
| |
攜帶
金額 |
| |
一級
|
| |
二級
|
| |
第三級
|
| |
公允價值
|
| |||||||||||||||
有價證券投資:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
交易:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政債券證券
|
| | | $ | 56,358,374 | | | | | | — | | | | | | 47,264,847 | | | | | | 9,093,527 | | | | | | 56,358,374 | | |
| | | | | 56,358,374 | | | | | | — | | | | | | 47,264,847 | | | | | | 9,093,527 | | | | | | 56,358,374 | | |
可供銷售:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
市政債券證券
|
| | | | 1,750,590,488 | | | | | | — | | | | | | 1,415,552,416 | | | | | | 335,038,072 | | | | | | 1,750,590,488 | | |
有價證券總額
|
| | | | 1,806,948,862 | | | | | | — | | | | | | 1,462,817,263 | | | | | | 344,131,599 | | | | | | 1,806,948,862 | | |
逆回購協議,淨額
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
逆回購協議
|
| | | | 65,041,913 | | | | | | — | | | | | | 65,041,913 | | | | | | — | | | | | | 65,041,913 | | |
回購協議
|
| | | | (61,231,113) | | | | | | — | | | | | | (61,231,113) | | | | | | — | | | | | | (61,231,113) | | |
美國國債賣空
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
逆回購協議,淨額
|
| | | | 3,810,800 | | | | | | — | | | | | | 3,810,800 | | | | | | — | | | | | | 3,810,800 | | |
| | | | $ | 1,810,759,662 | | | | | | — | | | | | | 1,466,628,063 | | | | | | 344,131,599 | | | | | | 1,810,759,662 | | |
| | | |
的公允價值
3月31日 2021 |
| |
估值
技巧 |
| |
看不見
輸入 |
| |
範圍
輸入 (加權 平均) |
| |||
|
有價證券投資:
|
| | | | | | | | | | | | | | | |
|
交易:
|
| | | | | | | | | | | | | | | |
|
市政債務投資
|
| | | $ | 9,093,527 | | | | 貼現現金流 | | |
牆
|
| |
21.0年
|
|
| | | | | | | | | | | | |
良率
|
| |
9.0%
|
|
|
可供銷售:
|
| | | | | | | | | | | | | | | |
|
市政債務投資
|
| | | | 92,098,081 | | | |
基於
的市場定價
最近的交易 |
| |
價格
|
| |
$45.00 – $102.00
$(67.75) |
|
| | | | | | 244,821,521 | | | | 貼現現金流 | | |
牆
|
| |
0.5 - 41.1年
(19.8年) |
|
| | | | | | 336,919,602 | | | | | | |
良率
|
| |
5.5% – 14.0%
(10.0)% |
|
|
合計
|
| | | $ | 346,013,129 | | | | | | | | | | | |
| | | |
的公允價值
12月31日 2020 |
| |
估值
技巧 |
| |
看不見
輸入 |
| |
範圍
輸入 (加權 平均) |
| | | | | |||||||||||
|
有價證券投資:
|
| | | | | | | | | | | | | | | | | | | | ||||||||
|
交易:
|
| | | | | | | | | | | | | | | | | | | | ||||||||
|
市政債務投資
|
| | | $ | 9,093,527 | | | | 貼現現金流 | | |
牆
|
| |
18.7年
|
| | | | | ||||||||
| | | | | | | | | | | | |
良率
|
| |
9.0%
|
| | | | | ||||||||
|
可供銷售:
|
| | | | | | | | | | | | | | | | | | | | ||||||||
|
市政債務投資
|
| | | | 74,819,300 | | | |
基於
的市場定價
最近的交易 |
| |
價格
|
| |
$45.00 – $100.00
$(71.99) |
| | | | | | | | | | | | |
| | | | | | 260,218,772 | | | | 貼現現金流 | | |
牆
|
| |
0.5 - 41.4年
(18.5年) |
| | | | | ||||||||
| | | | | | | | | | | | |
良率
|
| |
6% – 11% (10)%
|
| | | | | ||||||||
| | | | | | 335,038,072 | | | | | | | | | | | | | | | | ||||||||
|
合計
|
| | | $ | 344,131,599 | | | | | | | | | | | | | | | |
| | |
開始
餘額 12月31日 2020 |
| |
未實現
得(損) |
| |
購買
|
| |
實現了
得(損) |
| |
折扣
攤銷 (高級 堆積) |
| |
銷售額/
贖回 |
| |
轉賬
已超出 第三級 |
| |
轉賬
轉換為 第三級 |
| |
結束
餘額 3月 31 2021 |
| |
更改
未實現 收益 年( ) 投資 仍被關押在 3月, 2021 |
| ||||||||||||||||||||||||||||||
投資
中的 適銷對路 證券: |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
交易
|
| | | $ | 9,093,527 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,093,527 | | | | | | — | | |
可供-
銷售 |
| | | | 335,038,072 | | | | | | 2,571,115 | | | | | | 5,150,730 | | | | | | — | | | | | | 2,153,032 | | | | | | (3,190,661) | | | | | | (19,743,839) | | | | | | 14,941,153 | | | | | | 336,919,602 | | | | | | 2,571,115 | | |
| | | | $ | 344,131,599 | | | | | | 2,571,115 | | | | | | 5,150,730 | | | | | | — | | | | | | 2,153,032 | | | | | | (3,190,661) | | | | | | (19,743,839) | | | | | | 14,941,153 | | | | | | 346,013,129 | | | | | | 2,571,115 | | |
| | |
開始
餘額 12月31日 2019 |
| |
未實現
得(損) |
| |
購買
|
| |
實現了
得(損) |
| |
折扣
攤銷 (高級 堆積) |
| |
銷售額/
贖回 |
| |
轉賬
已超出 第三級 |
| |
轉賬
轉換為 第三級 |
| |
結束
餘額 3月31日 2020 |
| |
更改
未實現 收益 期間為 投資 仍被關押在 3月31日 2020 |
| ||||||||||||||||||||||||||||||
有價證券投資:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
交易
|
| | | $ | 8,741,527 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,741,527 | | | | | | — | | |
可供銷售
|
| | | | 252,581,167 | | | | | | (606,864) | | | | | | 238,678 | | | | | | — | | | | | | 2,147,593 | | | | | | (4,725,262) | | | | | | — | | | | | | — | | | | | | 249,635,312 | | | | | | — | | |
| | | | $ | 261,322,694 | | | | | | (606,864) | | | | | | 238,678 | | | | | | — | | | | | | 2,147,593 | | | | | | (4,725,262) | | | | | | — | | | | | | — | | | | | | 258,376,839 | | | | | | — | | |
| | | | | | | | |
估計公允價值
|
| |||||||||||||||||||||
| | |
賬面金額
|
| |
一級
|
| |
二級
|
| |
第三級
|
| |
合計
|
| |||||||||||||||
2021年3月31日 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
金融資產 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
現金和現金等價物以及限制性現金
|
| | | $ | 72,374,692 | | | | | | 72,374,692 | | | | | | — | | | | | | — | | | | | | 72,374,692 | | |
應收財務投資
|
| | | | 71,790,904 | | | | | | — | | | | | | — | | | | | | 76,232,389 | | | | | | 76,232,389 | | |
投資私募基金
|
| | | | 1,597,549 | | | | | | — | | | | | | 1,597,549 | | | | | | — | | | | | | 1,597,549 | | |
金融總資產
|
| | | $ | 145,763,145 | | | | | | 72,374,692 | | | | | | 1,597,549 | | | | | | 76,232,389 | | | | | | 150,204,630 | | |
金融負債 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
擔保借款
|
| | | $ | 162,975,439 | | | | | | — | | | | | | 162,975,439 | | | | | | — | | | | | | 162,975,439 | | |
合併實體中可強制贖回的非控股權益
|
| | | | 347,524,350 | | | | | | — | | | | | | — | | | | | | 353,382,279 | | | | | | 353,382,279 | | |
金融負債總額
|
| | | $ | 510,499,789 | | | | | | — | | | | | | 162,975,439 | | | | | | 353,382,279 | | | | | | 516,357,718 | | |
| | | | | | | | |
估計公允價值
|
| |||||||||||||||||||||
| | |
賬面金額
|
| |
一級
|
| |
二級
|
| |
第三級
|
| |
合計
|
| |||||||||||||||
2020年12月31日 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
金融資產 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
現金和現金等價物以及限制性現金
|
| | | $ | 88,220,755 | | | | | | 88,220,755 | | | | | | — | | | | | | — | | | | | | 88,220,755 | | |
應收財務投資
|
| | | | 76,523,447 | | | | | | — | | | | | | — | | | | | | 78,503,682 | | | | | | 78,503,682 | | |
投資私募基金
|
| | | | 1,418,472 | | | | | | — | | | | | | 1,418,472 | | | | | | — | | | | | | 1,418,472 | | |
金融總資產
|
| | | $ | 166,162,674 | | | | | | 88,220,755 | | | | | | 1,418,472 | | | | | | 78,503,682 | | | | | | 168,142,909 | | |
金融負債 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
擔保借款
|
| | | $ | 162,964,352 | | | | | | — | | | | | | 162,964,352 | | | | | | — | | | | | | 162,964,352 | | |
合併實體中可強制贖回的非控股權益
|
| | | | 330,817,000 | | | | | | — | | | | | | — | | | | | | 333,762,530 | | | | | | 333,762,530 | | |
金融負債總額
|
| | | $ | 493,781,352 | | | | | | — | | | | | | 162,964,352 | | | | | | 333,762,530 | | | | | | 496,726,882 | | |
| | |
毛收入
金額 已識別 資產 (負債) |
| |
毛收入
金額 中的偏移量 合併 資產負債表 |
| |
淨額
資產的 個 (負債) 顯示在 中 合併 資產負債表 |
| |
合併資產負債表中未抵銷的金額
|
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| | |
財務
儀器 (策略 選舉)(1) |
| |
財務
儀器 (會計 條件不是 會議)(2) |
| |
財務
抵押品資產 已承諾(3) |
| |
淨額
|
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描述: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
逆回購協議資產
|
| | | $ | 53,984,733 | | | | | | (51,341,250) | | | | | | 2,643,483 | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,643,483 | | |
擔保借款:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
TOB信託債務融資
|
| | | | (149,885,439) | | | | | | — | | | | | | (149,885,439) | | | | | | — | | | | | | — | | | | | | 149,885,439 | | | | | | — | | |
總回報掉期
|
| | | | (13,090,000) | | | | | | — | | | | | | (13,090,000) | | | | | | — | | | | | | — | | | | | | 13,090,000 | | | | | | — | | |
合計
|
| | | $ | (108,990,706) | | | | | | (51,341,250) | | | | | | (160,331,956) | | | | | | — | | | | | | — | | | | | | 162,975,439 | | | | | | 2,643,483 | | |
| | |
毛收入
金額 已識別 資產(負債) |
| |
毛收入
金額 中的偏移量 合併 資產負債表 |
| |
淨額
資產(負債)的 顯示在 中 合併 資產負債表 |
| |
合併資產負債表中未抵銷的金額
|
| ||||||||||||||||||||||||||||||
| | |
財務
儀器 (策略 選舉)(1) |
| |
財務
儀器 (會計 條件不是 會議)(2) |
| |
財務
抵押品資產 已承諾(3) |
| |
淨額
|
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描述: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
逆回購協議資產
|
| | | $ | 65,041,913 | | | | | | (61,231,113) | | | | | | 3,810,800 | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,810,800 | | |
擔保借款:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
TOB信託債務融資
|
| | | | (149,874,352) | | | | | | — | | | | | | (149,874,352) | | | | | | — | | | | | | — | | | | | | 149,874,352 | | | | | | — | | |
總回報掉期
|
| | | | (13,090,000) | | | | | | — | | | | | | (13,090,000) | | | | | | — | | | | | | — | | | | | | 13,090,000 | | | | | | — | | |
合計
|
| | | $ | (97,922,439) | | | | | | (61,231,113) | | | | | | (159,153,552) | | | | | | — | | | | | | — | | | | | | 162,964,352 | | | | | | 3,810,800 | | |
| | |
2021年3月31日
|
| |
2020年12月31日
|
| ||||||
購買的有價證券尚未結算
|
| | | $ | 23,344,090 | | | | | | 1,513 | | |
應付賬款和應計費用
|
| | | | 4,397,830 | | | | | | 4,569,380 | | |
應計獎勵費用
|
| | | | 2,295,431 | | | | | | 7,700,000 | | |
應計利息支出
|
| | | | 2,192,368 | | | | | | 1,152,515 | | |
經營租賃負債
|
| | | | 245,548 | | | | | | 303,714 | | |
應付賬款和應計負債合計
|
| | | $ | 32,475,267 | | | | | | 13,727,122 | | |
| 可分配給辦公室運營租賃的租賃付款 | | | | | | |||||
|
2021
|
| | | | | | $ | 186,973 | | |
|
2022
|
| | | | | | | 63,964 | | |
| | | | | | | | $ | 250,937 | | |
|
經營租賃負債現值
|
| | | | | | $ | 245,548 | | |
|
證券註冊費
|
| |
|
|
|
FINRA申請費
|
| | | |
|
掛牌費
|
| | | |
|
會計費和費用
|
| | | |
|
律師費和開支
|
| | | |
|
印刷費和費用
|
| | | |
|
轉讓代理費和登記費
|
| | | |
|
其他
|
| | | |
| 合計 | | | | |
展品
|
| |
説明
|
| |||
| | 1.1# | | | | 承保協議格式 | |
| | 3.1# | | | | 公司章程 | |
| | 3.2# | | | | 附則 | |
| | 5.1# | | | | Clifford Chance US LLP的意見 | |
| | 8.1# | | | | Clifford Chance US LLP對某些税務問題的意見 | |
| | 10.1# | | | | 共享資源協議格式 | |
| | 10.2# | | | | 過渡服務協議格式 | |
展品
|
| |
説明
|
| |||
| | 10.3# | | | | 有限合夥協議格式 | |
| | 10.4# | | | | 2021年股權激勵計劃表格 | |
| | 10.5# | | | | 賠償協議書格式 | |
| | 10.6# | | | | 應收税金協議 | |
| | 21.1# | | | | 註冊方子公司列表 | |
| | 23.1# | | | | 獨立註冊會計師事務所畢馬威會計師事務所同意 | |
| | 23.2# | | | | Clifford Chance US LLP同意(見附件5.1) | |
| | 24.1# | | | | 授權書(包括在本註冊聲明的簽名頁上) | |
| 日期:2021年 | | |
吉姆·湯普森
董事會主席兼首席執行官 軍官兼總裁 (首席執行官) |
|
| 日期:2021年 | | |
導演
|
|
| 日期:2021年 | | |
導演
|
|
| 日期:2021年 | | |
導演
|
|
| 日期:2021年 | | |
導演
|
|
| 日期:2021年 | | |
導演
|
|
| 日期:2021年 | | |
Paige Deskin
執行副總裁兼首席財務官 (首席財務官) |
|