600429 12 B 25 26 1
A 1 2 3 6 48,500 76.38% 100% 4 2005 12 28 2,425 2005 11 1 485 2
10 3.6 5,400 1 2006 3 9 2 2006 3 21 3 3
2006 3 17 2006 3 20 2006 3 21 9:30 11:30 13:00 15:00 2006 3 17 2006 3 20 2006 3 21 9:30 15:00 1 2006 2 27 2 27 3 6 2 3 3 3 3 (3 6 ) 3 3 3 3 3 4 010-82411798 010-82410960 010-82410089 010-82413213 zhengquanbu@sanyuan.com.cn http://www.sanyuan.com.cn http://www.sse.com.cn 4
600429 5
1 6
10 3.6 2 2005 12 28 2,425 2005 11 1 485 1 7
(%) (%) 1 34,920 55.00 3,888.45 31,031.55 48.87 2 12,610 19.86 1,404.08 11,205.92 17.65 3 485 0.76 53.73 431.27 0.68 4 485 0.76 53.73 431.27 0.68 48,500 76.38 5,400 43,100 67.87 2 (%) (%) 1 34,920 55.00 3,888.45 31,031.55 48.87 2 9,700 15.28 1,404.08 8,295.92 13.06 3 2,425 3.82 0 2,425 3.82 4 485 0.76 0 485 0.76 5 485 0.76 53.73 431.27 0.68 6 485 0.76 53.73 431.27 0.68 48,500 76.38 5,400 43,100 67.87 3 1, 8
1 0 G 12 2 3,175 G 24 3,175 G 36 2 24,681.55 G 36 0 G 12 3,175 G 24 3,175 G 36 4,855.92 G 36 2 3 4 0 G 12 431.27 G 24 2 0 G 12 2 431.27 G 24 1 G 2 2, 0 G 12 2 3,175 G 24 1 3,175 G 36 24,681.55 G 36 2 0 G 12 3,175 G 24 3,175 G 36 1,945.92 G 36 2 3 0 G 12 2 9
2,425 G 24 4 5 6 0 G 12 2 485 G 24 0 G 12 431.27 G 24 2 0 G 12 2 431.27 G 24 1 G 2 4 1, 48,500 76.38 43,100 67.87 12,610 19.86 11,205.92 17.65 485 0.76 431.27 0.68 35,405 55.76 31,462.82 49.55 15,000 23.62 20,400 32.13 A 15,000 23.62 A 20,400 32.13 B B H H 63,500 100.00 63,500 100.00 10
2, 48,500 76.38 43,100 67.87 10,185 16.04 9,050.99 14.25 2,910 4.58 2,586.20 4.07 35,405 55.76 31,462.82 49.55 15,000 23.62 20,400 32.13 A 15,000 23.62 A 20,400 32.13 B B H H 63,500 100.00 63,500 100.00 5 1 11
2 1 2003 19.14, 80%-90% 15-17, IPO 15 PE 2003 US TSN US Equity TYSON FOODS-A 12.46 US DF US Equity DEAN FOODS CO 18.66 US HRL US Equity HORMEL FOODS CRP 16.67 Japan 2282 JP Equity NIPPON MEAT PACK 28.21 US SFD US Equity SMITHFIELD FOODS 16.42 Japan 2267 JP Equity YAKULT HONSHA CO 19.43 Japan 2261 JP Equity MEIJI DAIRIES CO 21.28 India NEST IN Equity NESTLE INDIA LTD 19.96 19.14 18.42 Bloomburg 2 2003 1 1.5 2.6 2002 0.13 20 5 = * =5*0.13*15,000=9,750 12
3 2006 2 24 60 2.42 9,750/2.42 =4,028.9 4 4,028.9/15,000 =0.269, 10 2.69 3 10 3.6, 33.83% 1 2 3 13
100% (%) 1 34,920 55.00 2 9,700 15.28 3 2,425 3.82 4 485 0.76 5 485 0.76 6 485 0.76 48,500 76.38 48,500 100 14
15
( 2005 86 ) 16
17
2006 2 27 18