2014414 0-20% 18%-45% 2014 PE 30 2015 PE 20 2014-4-9 2014-2-13 2013-12-9 S1060512070002 021-38639692 yangshaohui320@pingan.com.cn S1060513090003 010-59730716 luzhou906@pingan.com.cn S1060114010006 021-38638523 zhengaigang610@pingan.com.cn 1850 35% 3D 2013 68% 30-50% 3D 3D 3D +O2O 2013 24.2% 20%2014 +O2O 2014
... 4... 6... 8 3.1... 8 3.2... 8 3.3... 9 3.4... 9 3.5... 9 3.6... 11 3.7... 11... 12... 13... 14 2/16
1... 4 2... 5 3 2014 300... 12 4... 12 5... 13 6... 14 3/16
0-20% 18%-45% 2014 PE 30 2015 PE 20 1850 35% 3D 2013 68% 30-50% 3D 3D 3D +O2O 2013 24.2% 20% 2014 +O2O 2014 2014 +O2Q 4/16
EPS PE 2014/4/11 2012A 2013E 2014E 2012A 2013E 2014E 1 002353 397 1.08 1.65 2.45 57.5 37.6 25.3 300157 79 0.26 0.35 0.70 76.1 56.5 28.3 300228 84 0.84 1.74 2.63 73.9 35.7 23.6 002554 52 0.21 0.22 0.43 54.8 52.3 26.8 300309 42 0.48 0.41 0.53 40.5 47.4 36.6 601808 882 0.95 1.49 1.64 19.5 12.4 11.3 2 600118 203 0.23 0.28 0.33 74.7 61.4 52.1 600879 116 0.2 0.25 0.28 55.8 44.6 39.8 601989 864 0.2 0.17 0.2 24.7 29.0 24.7 600372 364 0.27 0.36 0.41 76.6 57.4 50.4 600038 153 0.2 0.49 0.46 129.7 52.9 56.4 3 300024 151 0.7 0.84 1.18 72.4 60.3 42.9 002698 112 0.44 0.53 0.68 63.5 52.7 41.1 600835 202 0.69 0.92 1.12 28.6 21.5 17.6 300307 93 0.47 0.39 0.46 24.6 29.6 25.1 4 + LNG 6 + 000530 36 0.33 0.41 0.52 30.8 24.8 19.5 000811 47 0.36 0.64 0.74 33.2 18.7 16.2 5/16
002158 45 0.44 0.62 0.77 43.1 30.6 24.6 5 600150 281 0.02 0.04 0.36 1,020.0 510.0 56.7 600685 177 0.01 0.02 0.14 1,714.0 857.0 122.4 000039 394 0.73 0.82 0.86 20.2 18.0 17.2 6 300257 153 0.69 0.82 1.18 51.6 43.4 30.2 + + Wind * AEPSRMBRMB 2.1 2013285915.44% 56511.35% 201324.528.30% 3.712.51% 2014 21.89 17.53% 1.45 34.52% 2014 3.23 0.73% 96.59 96.50% 2014 4 10 2014-1997.35-1634.19 2014 3 28 CNOOC Iraq 9245 5.68 20141441.422106.69 6/16
5%35% 4000 600010000 3111.543100900 2.2 201414901863 0%20% 2014-260 -300 2014 4 9 1500 35% 201313.1926.3% 2.5020.12% 2014 4522 5218 30% 50% 2.3 201319.4920.54% 3.5118.55% 2014 8760.49 10664.95 15% 40% 2.4 14,971-16,468 2,994 7/16
7 12,937,266.62 3.1 4 8 1HF 1HF 5800 4 9, 1, 1, 5800 KKR 2.5 1.75 7500 KKR 20 Japex Japex7 Japex Japex 1 8% 5 500 10 5 500 10 2000 4 8 LNG 4 9 2013 640 16 641 3.2 8/16
2011 12 2013 10 2015 300 ; 2020 1000 3.3 500 35792.23 2014 4 10 2014 24 3.4 4 8 30 20% 70 80 3 1 3-3.5 9/16
11 2011 4 65 4 12 1961 4 12 590 89 9 1500 3 15-20 -20-20 2013-20 052D -20-20 100 052D -3 3 21 052D 172 2012 5 052D 052C 052A 052B052C 052D 052D 10/16
5 3 24 19 9 12 3 12 9 19 3.6 3.0 4 10 10 20 3.0 2020 10 2030 - Gondan 1100 Simon M kster UT 776 WP, 4 Interlink Maritime 5 38000DWT 3 2016 2400 2500 103 78.8 15 5.6 4 3.7 4 10 5000 10000 4800 6 XE215F 11/16
4 XE215F 2013 2014 300 2.5% 2.1% 4.6 Wind 4.6%3.7% 3.4% Wind 4.9% 4.8% 2.5% 12/16
Wind 5.1 (300024) 2013 13.19 26.3% 2.50 20.1% 2.22 68%EPS0.84 5.43 10 6 6 1.5 5.6 2013 7.67.63.7 2013 IC IC 13/16
14/15 EPS 1.18/1.58 14 PE43 15 PE32 5.2 300157 A 5 50% 2014-2015 100%100% 3-5 10 5 50% 30 6% 2013 3500 5500 4000 6%40% 19% 2014 100%30%20% 1-2 2015 15%-20% 2013-2015 1.42.84.0 2013-2015 EPS 0.350.701.00 2015 19 30 14/16
Wind 15/16
: 6 300 20% 6 300 10% 20% 6 300 ±10% 6 300 10% : 6 300 5% 6 300 ±5% 6 300 5% 2014 4 518048 4008866338 (0755) 8244 9257