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NMHC Rent Payment Tracker Finds 86.2 Percent of Apartment Households Paid Rent as of September 13

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The National Multifamily Housing Council (NMHC)s Rent Payment Tracker found 86.2 percent of apartment households made a full or partial rent payment by September 13 in its survey of 11.4 million units of professionally managed apartment units across the country.

This is a 2.4-percentage point, or 279,457-household decrease from the share who paid rent through September 13, 2019 and compares to 86.9 percent that had paid by August 13, 2020. These data encompass a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price.

While it remains clear that many apartment residents continue to prioritize their housing obligations and that apartment owners and operators remain committed to meeting them halfway with creative and nuanced approaches, the reality is that the second week of September figures shows ongoing deterioration of rent payment figures – representing hundreds of thousands of households who are increasingly at risk, said Doug Bibby, NMHC President.

This sadly comes as little surprise given that Congress and the Administration have failed to come back to the table and extend the critical protections that supported apartment residents and the nations consumer base during the initial months of the pandemic.

Instead of being satisfied with a half-baked nationwide eviction moratorium which does nothing to deal with renters real underlying problem “ financial distress “ lawmakers should instead look to the successful model of the CARES Act and provide economic support to those who need it most “ the tens-of-millions that call an apartment home, revitalizing the recovery at the same time.

The NMHC Rent Payment Tracker metric provides insight into changes in resident rent payment behavior over the course of each month, and, as the dataset ages, between months. While the tracker is intended to serve as an indicator of resident financial challenges, it is also intended to track the recovery as well, including the effectiveness of government stimulus and subsidies.

However, noteworthy technical issues may make historical comparisons imprecise. For example, factors such as varying days of the week on which data are collected; individual companies differing payment collection policies; shelter-in-place orders effects on residents ability to deliver payments in person or by mail; the closure of leasing offices, which may delay operators payment processing; and other factors can affect how and when rent data is processed and recorded.

NMHC is proud to partner with the following firms on this initiative:

Find more information, including the methodology, on the NMHC Rent Payment Tracker here.

The NMHC Rent Payment Tracker FAQ can be found here.

If you have any questions, please contact Sarah Yaussi, NMHC Vice President for Business Strategy “¯[email protected]¯or Colin Dunn, NMHC Senior Director for Communications “[email protected].

This survey is one of a number of NMHC-produced resources focused on the COVID-19 outbreak.

Additional resources, data and materials can be found here.

Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is the leadership of the trillion-dollar apartment industry. We bring together the prominent apartment owners, managers and developers who help create thriving communities by providing apartment homes for 40 million Americans. NMHC provides a forum for insight, advocacy and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202/974-2300, e-mail the Council at [email protected], or visit NMHC’s website at www.nmhc.org.

Colin Dunn

202/974-2370

[email protected]

 

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Big Gaps Found in Climate Risk Disclosures in China

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Companies Need to Improve the Breadth and Depth of Climate Reporting

HONG KONG and SHANGHAI, Sept. 24, 2020 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEX: 02318; SSE: 601318) announced today that the Ping An Digital Economic Research Center and OneConnect in collaboration with Imperial College London released a new report that used natural language processing (NLP) techniques to assess the current state of climate risk disclosures among the largest companies in China and the United States. The report found that Chinese companies in the CSI 300 lag significantly behind their global peers in the S&P 500 in climate risk disclosures and need to work towards wider adoption to catch up.

The report, "Where we stand on climate disclosures and why we need them", applied NLP techniques to analyze 277 documents for climate risk disclosures from 182 companies between July 2019 and July 2020. The tool could enable investors to gauge the quality of companies’ climate disclosures in a scalable fashion.

The report calls for tighter links between climate risk exposures and financial performance and adoption of more forward-looking information in truthful, transparent, and communicable disclosures, with the help of scalable technology tools to automatically assess disclosure quality.

Overview

Despite companies increasing adoption of climate disclosure frameworks such as the international Task Force on Climate-related Financial Disclosures (TCFD), there is wide variation in the adoption of specific recommendations. The report found:

1. Japanese companies have the highest incidence of discussions of climate risks in their sustainability reports, followed closely by European and US companies. Chinese companies lag significantly behind their global peers.

  • Among the four major equity indices examined, including the CSI 300, S&P 500, EURO STOXX 50, and Nikkei 225, Japanese companies lead in terms of incidence of climate risk discussions. Fifty-two percent of companies in the Nikkei 225, which represents 68% of market capitalization, discuss climate risks in their company reports. Forty percent of EURO STOXX 50 companies, representing 44% of market capitalization, and 33% of S&P 500 companies, representing 53% of market capitalization, do so.
  • Chinese companies in the CSI 300 index significantly lag behind. Only 3% of companies, representing 13% of market capitalization, currently discuss climate risks in their sustainability reports.
Percentage of companies with climate risk discussions in sustainability reports
Percentage of companies with climate risk discussions in sustainability reports

Source: Analysis of Bloomberg data

2. Among US and Chinese companies that disclose climate risks, the report identified six distinct themes: "Energy usage", "Governance", "Human rights and employee health and safety", "Climate-related risk management", "Emissions", and "Global Reporting Initiative (GRI) reporting and materiality".

  • The textual analysis focused on a S&P 500 and CSI 300 companies because they are the most representative indices of the US and China, the world’s two largest economies, which constitute 52 percent of the global equity market.
  • "Emissions" is the best covered theme (21.4%), while "GRI reporting and materiality" received the least coverage (10.1%).
  • A mapping of the six themes across TCFD’s four recommendations pillars, "Governance", "Strategy", "Risk management", and "Metrics and targets", found that none of the six themes identified fits exactly into the "Strategy" pillar. This suggests that companies under-disclose on "Strategy" related to climate change. "Metrics and targets" is the best covered pillar.
TCFD Chart
TCFD Chart

3. Despite international frameworks such as the TCFD, which recommends linking climate risk exposures and financial performance, financial impact metrics are not well disclosed by companies. Purely climate-related metrics have higher disclosure rates.

  • Among companies that provide climate disclosures, more than 90% report on metrics related to carbon emissions and energy usage. The rates are similar across most sectors: within every sector, more than 90 percent disclose carbon emission and energy use. Transportation is an exception.
  • Disclosure of water usage is less common, with an average rate of 58% of companies in each sector including coverage.
  • Land use is considerably underreported, with only 6% of companies disclosing it, possibly because it is only relevant for certain sectors.
  • Financial impact metrics are not well disclosed by companies. This is especially true for impact on capital and financing, with disclosure from only 16% of companies.
  • An analysis by sector found that insurance companies are more articulate in quantitative disclosures on "asset & liabilities" impacts, together with the Infrastructure and Transportation sectors. The latter are also better than other sectors in covering the "revenue and expenditures" dimension.

4. The report calls for Chinese companies to catch up with their global peers by taking the step to disclose in the first place. For all companies, there is still gap between current state of disclosures and requirements from guidelines such as the TCFD.

  • Companies should establish tighter links between climate risk disclosures and financial performance. Companies can conduct analyses on key forthcoming policies related to the transition to a low-carbon economy, for example carbon pricing and changes in energy mix, to project costs and opportunities in terms of cost of capital, valuations, and market share. Ping An is working on asset-repricing models for portfolios that price in climate risks, based on portfolio companies’ specific revenue streams and the potential impact of physical and transition policy risks.
  • Companies should move from backward-looking to forward-looking information when disclosing climate risks. Backward-looking data, such as carbon footprints, have limited relevance for company valuations, as the latter are based on future financial prospects. In addition to current emission data, companies should use forward-looking projections, such as future production curves, and disclose investments and/or strategies that companies are currently adopting to address climate risks going forward. The emergence of climate-related tail risk metrics, such as climate Value-at-Risk, which gauges the potential for asset-price corrections due to climate change, is promising and supports market participants’ efforts to screen for resilience in the face of downside risks brought about by climate change.
  • Business needs to move to truthful, transparent, and communicable disclosures with scalable tools for automatic detection of disclosure quality. The lack of unified standards, clear definitions, well-accepted methodologies, and stricter enforcement on disclosures may have made it easy for companies to misrepresent their environmental sustainability. Regulators and professional standards bodies must lead companies to move to more trustworthy and transparent disclosures. Analytics tools showcased in this report can be used to assess the comprehensiveness of companies’ climate disclosures and detect potential "greenwashing" or misrepresentation. Application of these tools across particular sectors could inform the creation of standardized indicators of climate risk disclosure that would enable ranking of climate risk disclosure performance in a scalable fashion.

The report is part of a broader joint project on "Climate Risk and Financial Innovation" between Ping An Digital Economic Research Center and Imperial College London. The collaboration aims to leverage cutting-edge academic research and industry expertise to develop robust methodologies for assessing the impact of climate risks on investment assets. These methodologies will be deployed to inform the development of innovative financial products such as disclosure transparency index, new insurance contracts and financial instruments related to climate risk valuation, and the provision of advisory services to the industry.

About Ping An Group

Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With over 210 million retail customers and 560 million Internet users, Ping An is one of the largest financial services companies in the world.

Ping An has two over-arching strategies, "pan financial assets" and "pan health care", which focus on the provision of financial and health care services through our integrated financial services platform and our five ecosystems of financial services, health care, auto services, real estate services and smart city services. Our "finance + technology" and "finance + ecosystem" strategies aim to provide customers and internet users with innovative and simple products and services using technology. As China’s first joint stock insurance company, Ping An is committed to upholding the highest standards of corporate reporting and corporate governance. The Group is listed on the stock exchanges in Hong Kong and Shanghai.

In 2020, Ping An ranked 7th in the Forbes Global 2000 list and ranked 21st in the Fortune Global 500 list. Ping An also ranked 38th in the 2020 WPP Kantar Millward Brown BrandZTM Top 100 Most Valuable Global Brands list. For more information, please visit www.pingan.cn.

About Ping An Digital Economic Research Center 

Ping An Digital Economic Research Center utilizes more than 50 TB high frequency data points, more than 30 years of historical data and more than 1.5 billion data points to drive research on the "AI + Macro Forecast" and provide insights and methods towards precise macroeconomic trends.

About OneConnect

OneConnect is a leading technology-as-a-service platform for financial institutions in China. The Company’s platform provides cloud-native technology solutions that integrate extensive financial services industry expertise with market-leading technology. The Company’s solutions provide technology applications and technology-enabled business services to financial institutions. Together they enable the Company’s customers’ digital transformations, which help them increase revenue, manage risks, improve efficiency, enhance service quality and reduce costs.

Our technology-as-a-service platform strategically covers multiple verticals in the financial services industry, including banking, insurance and asset management, across the full scope of their businesses – from sales and marketing and risk management to customer services, as well as technology infrastructure such as data management, program development, and cloud services.

Photo – https://photos.prnasia.com/prnh/20200924/2927727-1-a?lang=0
Photo – https://photos.prnasia.com/prnh/20200924/2927727-1-b?lang=0

Related Links :

http://www.pingan.cn

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China Ceramics Schedules First Half Fiscal 2020 Earnings Conference Call

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Earnings Conference Call to be held on Tuesday, September 29, 2020 at 5:00 am (Pacific) / 8:00 am (Eastern) / 8:00 pm (Beijing / Hong Kong)

JINJIANG, China, Sept. 24, 2020 /PRNewswire/ — China Ceramics Co., Ltd. (NASDAQ Capital Market: CCCL) ("China Ceramics" or the "Company"), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced it will conduct a conference call at 8:00 am Eastern Time on Tuesday, September 29, 2020, to discuss its first half financial results ended June 30, 2020. 

The First Half 2020 Earnings Press Release will be available prior to the Company’s Earnings Call on the Investor Relations page of the China Ceramics’ website at: http://www.cceramics.com/Press-Releases.html.

To participate in the live conference call, please dial 1-877-275-8968 five to ten minutes prior to the scheduled conference call time. International callers should dial 1-706-643-1666. In order to join this conference call, you will be required to provide the Conference ID Number 5293751.

If you are unable to participate in the call at this time, a replay will be available for 14 days starting on September 29, 2020, at 11:00 AM Eastern Time. To access the replay, please dial 1-855-859-2056, international callers please dial 1-404-537-3406, using the Conference ID number 5293751.

About China Ceramics Co., Ltd

China Ceramics Co., Ltd. is a leading manufacturer of ceramic tiles in China. The Company’s ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. China Ceramics’ products, sold under the "Hengda" or "HD", "Hengdeli" or "HDL", the "TOERTO" and "WULIQIAO" brands, and the "Pottery Capital of Tang Dynasty" brands, are available in over 2,000 style, color and size combinations and are distributed through a network of exclusive distributors as well as directly to large property developers. Its newly formed subsidiary, Chengdu Future Talented Management and Consulting Co, Ltd., provides business management and consulting. An additional newly formed subsidiary, Antelope Holdings (Chengdu), Co., Ltd., provides fintech solutions which includes the development of blockchain software. For more information, please visit http://www.cceramics.com.

 

Related Links :

http://www.cceramics.com/

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ZK International Group Co., Ltd. Announces $1.4 Million Convertible Note Financing

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WENZHOU, China, Sept. 24, 2020 /PRNewswire/ — ZK International Group Co., Ltd. (ZKIN) ("ZK International" or the "Company"), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, today announced that it has set the terms of a convertible note financing for aggregate gross proceeds up to $1.4 million (the "Convertible Notes").   

The offering is expected to close on or about September 25, 2020, subject to the satisfaction of customary closing conditions. The Convertible Notes may be convertible into up to 2,370,968 Company’s ordinary shares. Further details of the use of proceeds of this offering will be outlined on or about the closing.

The Convertible Notes and underlying ordinary shares are being offered pursuant to a shelf registration statement on Form F-3 (File Number: 333-230860) filed with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended on April 15, 2019 and declared effective on April 29, 2019.  The offering of the Convertible Notes and underlying shares will be made only by means of a prospectus supplement that forms a part of the registration statement.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these shares of common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock was filed by ZKIN with the SEC on September 22, 2020. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov.

About ZK International Group Co., Ltd.

ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 33 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, including the Beijing National Airport, the "Water Cube", and "Bird’s Nest", which were venues for the 2008 Beijing Olympics.  Emphasizing superior properties and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinkable water not only to the China market but also to international markets such as Europe, East Asia, and Southeast Asia.

For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on TwitterFacebookYouTube, and Weibo. For further information on the Company’s SEC filings please visit www.sec.gov.

Safe Harbor Statement 

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantee of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in the Company’s filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized.  In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Investor Contact:

Tony Tian, CFA 
Weitian Group LLC
Phone: +1 (732) 910-9692 
Email: [email protected]

Related Links :

http://www.ZKInternationalGroup.com

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