50 2006 6 30 45 83.42% 2006-6-30 600019 G 13.81% 600282 1.08% 600028 10.55% 600020 G 1.05% 600104 G 5.79% 600153 G 0.94% 600005 G 5.37% 600102 0.91% 600015 G 4.57% 600307 G 0.85% 600642 G 4.28% 600323 G 0.84% 600177 G 4.07% 600357 G 0.81% 600001 G 3.93% 600059 G 0.75% 600688 3.65% 600130 G 0.75% 600008 G 2.59% 600475 G 0.71% 600098 G 2.28% 600231 G 0.70% 600418 G 2.18% 600548 G 0.68% 600383 2.10% 600563 G 0.67% 600011 G 1.97% 600300 G 0.65% 600761 G 1.63% 600621 G 0.64% 600808 G 1.63% 600087 G 0.64% 600151 G 1.60% 600126 G 0.61% 600236 G 1.48% 600510 G 0.56% 600569 G 1.47% 600626 G 0.54% 600066 G 1.40% 600581 G 0.53% 600210 G 1.37% 600207 G 0.52% 600598 G 1.34% 600894 G 0.48% 600508 G 1.24% 600303 G 0.48% 600675 G 1.24% 600302 G 0.47% 600718 G 1.22% 600135 0.39% G 600019
G 2000 2000 10 0.5 2005 10 3.2 2005 40% 10 0.32 7.4% G 8% 6% 2%-12% 100% G G G 600808.SH G 600894.SH G 600022.SH G G QFII 2006 10 G 600019 % % % 2005A 126,608 115.92 12,666 34.81 0.72 20.5 17.01 6 2006E 134,843 6.5 9,248-27 0.53 18 11.7 8 2007E 141,720 5.1 10,216 10.5 0.58 18.2 12 7 600028
62% 1-2 2006 EPS 0.506 2007 0.572 G 600104 A G 75% 2006 EPS 0.43 0.58 30% 06 2006 2007 EPS 0.58 0.68 31% 52% 94% 06 07 50% G 600005 50% G
50% 6.5% 06 2006 130 450 2005 3 2130 2006 120 2004 2005 108 20 2006 90 50 50% 7 20 2006 1200 1000 04 16% 30% G 600005 % % % 2005A 40,746 68.73 4,825 50.61 0.616 19.8 23.8 4 2006E 39,227-3.7 2,805-41.8 0.36 14 13.7 7 2007E 42,023 7.1 3,163 12.7 0.4 13 14.1 6.6 G 600015 06 07 25% 20% 06 0.38 G G 04 0.33% 05 0.36% 10.58% 12.33% G G 06 15% 16.1 05 25% ROE 13.8% 06 8.4
85% ROE 2.8 G G G G 600642 05 324 24% 08 G 2005 40 60 40 180 20 06 2.97 30 G 1.214 2000 G 600642 ( ) 2004 2005 2006E 2007E 2008E 2009E 2010E 0.43 0.5 0.57 0.5 0.52 0.59 0.62 0.68 0.94 1.08 1.03 1.07 1.2 1.19 0.2 0.2 0.19 0.29 0.25 0.26 0.3 3.34 3.64 4.18 4.4 4.67 5 5.32 (%) ROIC 10.5 13.5 12.6 12.9 13.7 16.7 18.9 ROE 12.9 13.7 13.7 11.4 11.2 11.8 11.7
26.9 24.1 23.4 21.6 19.8 19.7 20.2 EBITDA Margin 42.1 35.7 37.2 35.7 33.5 31.2 31.6 EBIT Margin 24.2 21.8 21.1 19.3 17.5 17.4 17.9 54.6 38.9 7.1 9.9 10.8 21.2 5.3 2.2 15.8 23.7-12.7 3.9 13.2 5.4 40.1 35.6 24.3 22.4 20.7 20 17.6 0.64 0.81 0.71 0.74 0.77 0.87 0.86 0.32 0.44 0.46 0.49 0.51 0.58 0.59 26.9 28.7 30 30 31 32 33 3.2 3.2 3 4.7 4.1 4.2 4.8 ( ) P/E 13.1 11.3 9.9 11.3 10.9 9.6 9.2 P/B 1.8 1.7 1.5 1.4 1.3 1.2 1.2 EV/Sale 3.4 2.7 2.3 1.9 1.6 1.1 1 EV/EBITDA 8 7.6 6.1 5.4 4.7 3.7 3 G 600177 G A 5 / 10 G G 3 5 18366.56 05 07 20 06 08 13 18 18 0.36 0.42 0.50 06 8 G 06 08 7 28 G 1 / G 98 33 28 28 49 51 G A 04 30 G 600177
% % % 2003A 2703 9.38 400 0.33 0.22 35.3 15.71 26 2004A 4155 53.72 558 39.4 0.31 33.3 16.31 18 2005A 4628 11.38 565 1.24 0.32 35.5 14.86 18 2006E 5250 13.44 638 12.91 0.36 34.9 13.84 16 2007E 6094 16.08 753 18.07 0.42 34.7 14.57 14 G 600011 2355 05 1505 31.7% 318 06 05 240 9% 05 5 06 06 6 30 2007 07 06 06 07 EPS 0.40 0.48 0.44 0.53 6 28 06 45 3.35% 365 06 07 4500 07 ROE 9% G 600011 : : % 2005A 40,248 33% 4,763-12% 0.40 22% 12% 12 2006E 44,988 12% 4,983 5% 0.41 21% 12% 11 2007E 48,861 9% 5,107 2% 0.42 20% 12% 11 G 600236
06 07 10 2.5 121 07 0.13 09 G 600066 QFII QFII G 5~10 8000 1.2 05 1.5 500 3.8 14 2.5 1.5 1 05 9 06 1200 2006 2000 3 2192
2006 2007 70% 80% G 600066 2002A 2003A 2004A 2005A 2006E 2007E 268,505 325,365 394,909 457,644 577,737 660,424 yoy 69.99% 21.18% 21.37% 15.89% 26.24% 14.31% 218,539 265,868 327,657 373,037 470,073 535,183 823 1,277 1,369 2,082 2,153 2,505 49,142 58,221 65,883 82,524 105,511 122,736 18.30% 17.89% 16.68% 18.03% 18.26% 18.58% 1,176 647 2,385 2,684 3,000 4,000 15,494 19,357 24,153 30,576 38,708 44,381 15,749 20,761 24,060 29,141 39,286 45,569 280 80 484-453 -578 660 18,795 18,670 19,571 25,944 31,094 36,126 84-49 219 917 550 500 0 19 0 78 2,389 2,833-1,723-197 -156 107-150 -150 17,156 18,443 19,634 27,046 33,883 39,310 6,750 5,625 5,283 8,850 11,396 13,236 0-8 -17-372 -50-50 10,406 12,825 14,368 18,568 22,537 26,123 3.88% 3.94% 3.64% 4.06% 3.90% 3.96% EPS 0.76 0.94 0.70 0.70 0.56 0.65 ROE 10.86% 11.63% 12.02% 14.52% 14.99% 16.24% G 600598 10 G 900 50 10 2006 5.28 EPS 0.32 10 4.5 2006
333 05 909 06 14.5 70 / 117 1000 G 12966 3 17 37374 163429 7.35% 2006 48 18.8% 5.28 10% 0.33 14 G 600675 05 05 18.19% 06 16 06 188.8 80.7 06 46.5 05 11.8 2006 52.4 06 24% : 131 310 4655 13 05 100 G 600675 % 2003A 1,886-8.98 175 8.76 0.251 30.6 11.37 24 2004A 2,110 11.89 216 23.31 0.31 35.2 12.84 19 2005A 2,339 10.85 354 63.95 0.508 31.1 18.19 12 2006E 2,643 13 439 24 0.63 33 18.13 9.5 2007E 2,987 13 533 21 0.76 35 18.05 7.9
G 600718 G IT 40% 15-20% 40% IT IT G 2006 1 4.6 553 8.5% 76.8% 1 0.02 1 1 06 60% 2900 05 35% 06 07 0.28 0.39 G 600718 % % % 2005A 2,442 8.74 58-78.52 0.21 23.2 4.37 61x 2006E 2,694 10.3 78 33.1 0.28 26.7 5.5 46x 2007E 2,993 11.1 109 41.1 0.39 26.7 7.2 33x G 600020 G 2004 10
07 50% G 06 07 EPS 0.38 0.42 G G 600059 QFII QFII 2006 1 5 400 1 2 G 600510 QFII 05 4757 18 72,209 27 LEVI S LEVI S LEVI S 05 LEVI S 35,641 37% 05 G
720 400 320 07 120 05 06 240 06 06 60 07 07 1000 2006 2008 70 70% 06 07 0.22 0.25 5.2% 5.9% G 600510 2002 2003 2004 2005 2006E 2007E 1007 820 897 1068 1230 1360 748 626 680 851 947 1047 1 0 2 4 4 4 258 194 215 213 279 309 3 2 4 4 4 4 9 10 19 15 17 19 71 56 63 62 71 79 4-8 -5-6 0 0 177 138 142 147 195 215 8 2-2 14 4 4 6 4 3 10 3 3 0 4 1 0 0 0 5 2 2 3 0 0 186 146 142 169 202 222 54 36 44 46 61 67 6 4 1 1 1 1 0 0 0 0 0 0 126 106 97 121 140 154 ( ) 0.86 0.72 0.33 0.28 0.32 0.35