CHINA SECURITIES RESEARCH 6.00 / 2007 8 6 20 5.94 / 1.01% 1,027,225,506 67.39% 83,451.8311 54.75% 3,061.94 2.01% 2,747.255 1.80% 89,261.0261 58.56% 08 63 08 0.18 308.11 518.91 2010 2008 2009 0.18 0.282 25 4.62 zhangzhaohui@csc.com.cn 010 85130972 wangkang@csc.com.cn 010-85130229 2009 01 09 3.98 6 4.62 / % 1 3 12 0.4/8.2 55.8/65.3-48.4/17.1 12 / 8.20/0 152,426 A 48,316 60.67 19.23 3 489 2007A 2008F 2009F 2010F 58.56% 1255.12 3196.99 5535.66 -- 5.28% 154.66% 41.89% -- -76.45 282.8 429.9 -- -- 340% 52.14% -0.15 0.185 0.282 P/E -10.94 21 14
ST ST 12.28% 72,261,952.00 18 17,753.69 1 49,405.34 59,123.49 9,718.14 41,369.79 41,369.79 8,035.55 17,753.70 9,718.14 2 2008 4 30 13.274% 149,867,730.72 49% 42,279,263.46 49% 62,272,129.18 3% 30,000,000.00 257,370.00 284,676,493.36 4 3 2008 4 30 50,000,000.00 6.14% 06.03.17 07.03.16 50,000,000.00 6.14% 06.03.20 07.03.19 23,987,950.00 5.76% 03.10.29 05.10.29 1
ST 239,000,000.00 6.12% 04.9.27 15 362,987,950.00 6.00 /2007 8 6 20 5.94 /1.01%1,027,225,506 67.39% 83,451.8311 54.75% 3,061.94 2.01% 2,747.255 1.80% 89,261.0261 58.56% 1 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 4 % 1 78,128.72 137,910.96 76.52 2 30,413.83 72,491.95 138.35 3 29,927.58 47,842.49 59.86 4 60,654.60 84,927.70 40.02 5 28,366.71 50,423.22 77.75 6 25,251.37 29,521.20 16.91 7 11,763.74 42,862.29 264.36 8 12,588.54 28,505.26 126.44 9 2,431.85 6,273.84 157.99 10 100,939.54 112,929.90 11.88 11 4,463.85 16,483.53 269.27 384,930.33 630,172.34 63.71 2
3 ST 1 ST 13.274%49%3% 6.56% 6.58% 51.98% 100% 100% 58.56% 100% 30%
ST 5 ( ) ( ) ( ) () () 1993.08 1995.06 1.4 4.86 4.26 20,713.16 19,000 100.00% 1993.12 2001.02 3.74 9.05 9 11,360.31 23,892 100.00% 1998.06 2000.05 1.18 0.34 0.32 1,200 1,000 100.00% 2001.09 2006.04 8.51 11.93 11.9 44800 1000 58.00% 2003.11 2005.12 14.5 7.7 7.4 19305 8,958 75.00% 2003.12 2006.03 6.54 10 9.6 33,614 2005.1 2007.1 3.87 6.2 5.8 20,979 783 50.00% 2001.11 2003.06 1.52 2.51 2.46 6,035 184 100.00% 2001.09 2003.1 0.53 1.06 0.83 4,934 16 100.00% 2001.12 2003.12 5.47 7.75 7.53 19,384 2,076 100.00% 2002.07 2004.12 3.6 6.74 3.08 21,052 1,643 100.00% 2002.03 2004.01 10.64 16.76 13.69 54,954 1,362 100.00% 2004.01 2005.09 7.85 14.06 11.19 75,377 1,020 100.00% 2004.08 2006.04 0.8 1.23 1.22 3,742 1,080 100.00% 2002.04 2003.11 2.06 3.98 3.98 11,479 233 100.00% 2004.01 2005.09 5.43 8.04 6.72 24,554 8,468 100.00% 2005.12 2007.12 5 7.42 6.36 25,835 6,432 100.00% 2003.12 2006.08 0.97 4.22 2.9 26,687 2,994 100.00% 4
ST 2006.01 2007.12 7.12 9.84 7.62 48,842 8,328 71.25% 2003.9 2004.9 0.58 1.3 1.3 4025.64 862.71 100.00% 2003.4 2005.12 8.47 10.83 10.49 36139.89 4,217.51 100.00% I II 2005.7 2007.11 3.45 5.96 5.92 19,813.12 3,023.89 100.00% 2002.11 2003.1 3.98 3.87 3.77 11,650 557.3 89.80% 2003.12 2004.12 1.95 3.95 3.92 14,458 291.84 89.80% 2000.1 2002 4.5 3.76 3.48 17,348 1,136 100.00% 2003.5 2007.1 0.6 1.08 1.08 0 10,771 100.00% 2001.9 2003.5 3.82 9.21 6.82 30,765 2,934 50.43% 2003.9 2006.7 2 12.82 10.44 55,300 1,709 50.43% 2005.04 2006.12 0.3 2.18 2.18 3797 100.00% 2001.8 2003.4 0.74 3 2.7 11,108 3,200 100.00% 1996.8 1998.5 0.54 1.65 1.65 3,200 840 100.00% 2006.6.30 2007.1.15 0.28 2.49 2.49 6,635 5,759 100.00% 121.94 195.79 172.10 689,086.12 123,771.25 6 ( ( ( ) ) ) () () 2007.12 2009.11 4.67 7.87 7.81 42,000 50.00% 5
ST 2006.06 2009.11 10.04 9.09 8.91 56,406 60.00% 2007.08 2009.12 5.67 11.39 8.63 63,000 100.00% 2008.01 2010.12 4.22 8.5 6.75 63,000 100.00% 2008.06 2010.09 3.44 6.05 5.86 23,600 100.00% 2007.04 2009.05 2.83 5.41 5.3 27,443 14,006 100.00% C5 2008.07 2010.08 4.89 5.05 3 25,000 100.00% 2007.01 2009.08 1.69 5.86 4.7 33,632 31,352 71.25% 2005.11 2010.1 10.1 22.11 21.5 90,000 20,566 100.00% 2007.6 2009.12 2.74 6.94 6.9 27,600 5,722 100.00% 2008.8 2012.12 7.5 22.6 22.4 100800 75.00% III 2006.8.22 2008.6 0.88 2.45 2.38 10,079.56 9,900 100.00% 2007.11.28 2009.12 3.37 8.61 7.29 38,972.00 100.00% 2008.08 2010.08 4 8.08 8.08 37,976.00 100.00% 2006.4 2008.6 3.41 7.21 7 27,068.56 89.80% 2008.1 2009.12 2.96 5.1 4.84 21,005.06 89.80% 2007.9 2009.12 0.8 3.2 2.2 21940 100.00% 2006.1 2008.12 2 7.34 5.26 38,262 13020 50.43% 2007.12 2009.12 11.1 20.63 18 84,100 51.00% 2008.1 2010.1 7.19 2.73 2.7 21,600 100.00% 2007.04 2010 31 36.6 28.15 120,500 0.69 100.00% 2008.04 2010.08 0.2 2.05 100.00% 2005.12 2008.7 0.46 1.89 1.69 11,500 100.00% 2008.12 2011.6 3.19 6.05 6 37091 100.00% 100.00% 2008.5.30 2012.12.30 55.76 126.68 103 436720 100.00% 2005.04 2008.01 4.92 5.79 5.62 16,302 15,438 100.00% 2007.08 2008.12 2.85 5.1 5.04 18,172 4,989 100.00% 2008.08 2010.1 5.06 10 9.97 37,952 100.00% 2008 2011 30.41 10.17 10.17 90,000.00 100.00% 2008 2009 2.71 1.66 1.56 5795.4 100.00% 230.06 382.21 330.71 1627516.58 114993.69 6
ST 411,701.53411,853.04 271738.42%102,722.5506 152,426.0442 206.67%2.70 89966.20%1,200,910.18 900.36% 111,651.66 763 052.82 93.01%63.54% 7 151.51 411 853.04 411,701.53 271738.42% 49 703.49 152,426.04 102,722.55 206.67% 0.003 2.70 2.70 89966.20% () 120,047.69 1,200,910.18 1,080,862.49 900.36% 111,651.66 763,052.82 651,401.16 583.42% 93.01% 63.54% -29.47% 2008 12 31 308.11 518.91. 8 IPO 25.08 30.97 250.04 306.08 36.90 269.18 5.0158 6.19 50.01 61.22 7.38 53.84 127.94 138.49 270.47 536.90 87.19 449.70 3.76 4.07 7.95 15.79 2.56 13.23 79.93 40.19 214.65 334.77 22.63 312.14 1.57 0.79 4.21 6.56 0.44 6.12 7
ST A100020% 40 6 ST 3. 7 2010 2008 2009 0.18 0.282 25 4.62 8
ST 2006A 2007A 2008F 2009F 1192.00 1255.00 2735.85 118.00% 5535.26 102.32% (115.90) 1032.00 1950.24 88.98% 3991.93 104.69% 71.06 101.20 144.70 42.98% 350.70 142.36% 128.15 80.20 167.12 108.38% 252.28 50.96% 45.71 54.56 55.65 2.00% 59.88 7.60% (115.90) (837.50) 499.18-159.60% 801.82 60.63% 134.69 (114.50) 160.62-240.28% 72.67-54.76% 200.60 (464.90) 516.76-211.16% 807.57 56.28% 455.70 (764.50) 282.80-136.99% 429.90 52.02% 9
ST : 10
ST 12 15 12 5 15 12-5 5 12 5 15 12 15 11
ST, 2004 2006 2003-2006 2003 47.91% 37 2004 50 3.56% 13 2005 19 8.98% 16.32 2006 Top30 180% 50 100010 200120 188 4 201 601 (8610) 8513-0588 (8621) 6880-5588 (8610) 6518-0322 (8621) 6880-5010 12