A
... 4... 5... 7... 8... 10... 11... 18... 20... 26
A
1 2 3 4 580989 JTP1 5 600029 67.43 7 2:1 0.5 2 1 8 12 2007 6 21 2008 6 20 9 2008 6 20 10 11 12 1,400,000,000 13 2007 6 21 14 15 26
16
A 10 14A [2007]15 2007 6 21 580989 JTP1
1 2 A 3 4 5
6 A
A 10 14 1,400,000,000 A A
1 2 3 4 580989 JTP1 5 600029 67.43 7 2:1 0.5 2 1 8 12 2007 6 21 2008 6 20 9 2008 6 20 10 11 12 1,400,000,000 13 2007 6 21 14
15 26 16 = A / A = A / A A = A / A 1 0.001 100 2 580989 3 JTP1 4 5 2007 6 21
A Black-Sc 7.43 3.06% 12 Black- Scholes 6 7 8 9 10 11 0.965 0.719 0.531 0.391 0.288 0.212 2007 5 8 9.48 47.46%3.06% China Southern Airlines Company Limited A H ADR A H China Southern Air ADR 600029 A 1055 H ZNH ADR 1995 3 25 278
510405 437,417.80 020-86124738 020-86659040 www.cs-air.com ir.cz@cs-air.com 220,000-220,000 0 220,000-220,000 0 0 +220,000 220,000 0 +220,000 220,000 A 100,000 0 100,000 H 117417.8 0 117417.8 A 100,000 0 100,000 437,417.8 0 437,417.8 2003 2004 2005 2006 1-9 1 2007 3 31 2006 12 31 2005 12 31 2004 12 31 7,763,500 7,533,900 7,230,400.00 6,315,500.00 826,000 665,500 779,600.00 815,700.00 6,586,800 6,339,000 6,021,200.00 4,928,200.00 4,158,700 3,878,800 3,335,400.00 2,661,400.00 1,176,700 1,194,900 995,100.00 1,165,300.00
2 2007 1 3 2006 2005 2004 1,188,600 4,704,700 3,905,200.00 2,419,400.00-27,600 532,600 362,600.00 420,600.00-21,600 30,600-177,300.00 39,200.00-18,200 11,800-179,400.00 10,300.00 3 2007 1 3 2006 2005 2004 168,700 310,400 591,700.00 431,000.00-169,700-328,200-838,000.00-912,900.00 128,400 131,500 231,900.00 577,200.00 127,400-66,800-14,400.00 95,300.00 4 2007 1 3 2006 2005 2004 0.39 ( / ) 0.96 1.3528 0.9854 (%) -1.91 1.17-18.0300 0.8800-2.41 (%) -5.54-17.32 0.81 ( / ) -0.04 0.03-0.4100 0.0240 ( / ) -0.4300 0.0210 ( / ) 2.25 2.30 2.2800 2.6600 ( / ) 2.18 2.1900 2.5500 (%) 84.84 84.14 83.28 78.03 1 20 A 20 2007 3 2 2007 5 8 68.8 2 60 60 2006 12 25 2007
269.47% 3 2006 5 9 2007 5 8 9.48 / 2007 5 8 2.23 / 2006 8 7 4 / 2006 2007 5 6 7 8 9 10 11 12 1 2 3 4 2.56 2.74 2.43 2.40 2.94 3.58 3.79 4.09 5.73 5.73 7.43 9.03 5 1 2006 5 9 2007 5 8 278 278 510405 020-86130432 020-86127331
183 42 87555888 020-87557566 472 21 020-87302008 020-87306208 77 020-83836003 425 020-38008985
020-38008296 183 42 020 87557975 020-87557965 1 2 3 13
1 1 2 3 13 1 52.01
China Southern Air Holding Company 2002 10 16 3,061,276,000 278 278 510406 020-86130432 020-86127331 www.cs-air.com 803.08 711.18 72.87 0.61-1.92
1 3 1 50.3% 48 2002
2002 2004 8 2004 8 57 2000 6 6 2006 9 2002 9 2006 9 52 2001 2002 2002 4 2002 9 2002 9 59 2000 12 2001 12 2001 12 2002 9 2002 9 2004 6 2004 6 57
1999 11 2001 12 2001 12 2006 2 2006 2 53 3 2002 4 4 2002 9 2002 9 49 2000 11 2002 3 2002 3 2003 7 2003 7 2004 10 2004 10 2004 11 42 2000 12 2006 2 2006 2 2007 2 56 1997 8 2000 11 11
2005 2 2 38 2000 2 2003 3 2003 3 2005 2 2005 2 2006 3 3 2007 2004 2005 2006
1 2006 12 31 2005 12 31 2004 12 31 8,030,773.41 7,666,841.08 6,832,647.52 899,053.17 956,620.13 138,977.89 7,111,811.18 6,738,156.39 5,476,906.56 4721,298.51 4,113,893.39 3,247,606.56 ( 190,242.78 ) 212,610.67 536,684.09 2 2006 2005 2004 4,728,542.70 3,940,884.87 3,561,303.12 530,485.27 359,079.08 606,116.10 6,091.93-319,779.00-6,360.56-19,181.24-214,337.79-12,405.27 3 2006 2005 2004 447,707.45 521,507.65 1,048,317.00-471,806.94-668,802.57-1,083,897.31 4,488.71 118,140.91 8,511.34-19,735.27-29,226.22-27,068.96 1
2 7 3 2 4 1 2 020-86130432 020-86127331