2007 9 3 8 86-21-62481784 zhangguojun@pasc.com.cn 8 1 WTI 78.77 7 78.40 / 1 76.86 / 8 22 69.26 / 9.89% 1~2 70 8 8 TDI MDI 18.11% 14.46 10.8% 600299 8 29 ST 600844 8 27 600423 8 17 002018 8 18 600143 8 11 002054 8 25 ST 000887 8 16 600028 8 27 600583 8 8 0857.HK 8 11 A 8 23 0883.HK 8 29 2883.HK 8 29
... 3... 4... 5... 10 600299...10 600256...11 600309...11 002140...11 600596...11 ST 600844...12 600423...12 002018...12 600143...12 002054...13 ST 000887...13 600028...13 600583...14 0857.HK...14 0883.HK...16 2883.HK...16 2/19
8 1 WTI 78.77 / 7 78.40 / 1 76.86 / 8 22 69.26 / 9.89% 1 02 7 ~07 8 80 70 60 50 40 30 WTI BRENT 20 02-7 03-1 03-7 04-1 04-7 05-1 05-7 06-1 06-7 07-1 07-7 IEA 8 10 8600 2008 8820 2007 OECD 4950 0.6% 2008 5030 1.7% OECD 3650 3.5% 8 30 EIA 8 24 350 3.336 80 360 1.926 170 90 1.299 100 8 6 15 17 4 230 43,881 130 3.4% 1.4 1.83% 1/3 15% 8 80 1~2 3/19
70 8 8 90 90 90 100 90 80 100 / 5800 0 30 80 / 5430 / +5 8 4 4.5% 2 05 1 ~07 8 3 05 1 ~07 8 7,000 5,000 4,000 3,000 05-1 05-4 05-7 05-10 06-1 06-4 06-7 06-10 07-1 07-4 07-7 7,000 5,000 4,000 3,000 05-1 05-4 05-7 05-10 06-1 06-4 06-7 06-10 07-1 07-4 07-7 2~3 4/19
8 70 1 8 28 8 21 9 20 90 2 9 3 10 18 70 4 04 1 ~07 8 5 04 1 ~07 8 ( / ) ( FOB / ) FOB 30,000 2 22,000 1 14,000 10,000 04-1 04-7 05-1 05-7 06-1 06-7 07-1 07-7 1,400 1,200 1,000 800 600 400 200 04-1 04-7 05-1 05-7 06-1 06-7 07-1 07-7 4~5 6 04 7 ~07 8 HDPE 7 04 7 ~07 8 LDPE HDPE HDPE LDPE LDPE HDPE HDPE LLDPE 15,000 14,000 13,000 12,000 11,000 10,000 04-7 05-1 05-7 06-1 06-7 07-1 07-7 1 1 14,000 12,000 10,000 04-7 05-1 05-7 06-1 06-7 07-1 07-7 6~7 5/19
8 05 1 ~07 8 PE 9 04 7 ~07 8 PP HDPE- LDPE- PP PP 10,000 7,000 5,000 05-1 05-4 05-7 05-10 06-1 06-4 06-7 06-10 07-1 07-4 07-7 14,000 13,000 12,000 11,000 10,000 04-7 05-1 05-7 06-1 06-7 07-1 07-7 10 04 7 ~07 8 PVC 11 04 7 ~07 8 PBT PVC PVC PBT 12,000 11,000 10,000 7,000 5,000 04-7 05-1 05-7 06-1 06-7 07-1 07-7 22,000 21,500 21,000 20,500 20,000 19,500 1 05-8 06-2 06-8 07-2 07-8 10~11 8 8 29 2007 68 A 2007 8 30 A 5.0%~37.1% 5 A A 6/19
12 03 11 ~07 8 13 03 11 ~07 8 A A 17,000 15,000 13,000 11,000 7,000 5,000 03-11 04-5 04-11 05-5 05-11 06-5 06-11 07-5 24,000 22,000 20,000 1 1 14,000 12,000 10,000 03-11 04-5 04-11 05-5 05-11 06-5 06-11 07-5 12~13 8 9 8 2,540 3,000 / 18.11% 9 14 04 1 ~07 8 15 04 1 ~07 8 4,000 11,000 10,000 3,600 7,000 5,000 4,000 04-1 04-7 05-1 05-7 06-1 06-7 07-1 07-7 3,200 2,800 2,400 2,000 04-1 04-7 05-1 05-7 06-1 06-7 07-1 07-7 14~15 7/19
16 03 11 ~07 8 17 04 1 ~07 8 PTA PTA 21,000 1 15,000 12,000 03-11 04-5 04-11 05-5 05-11 06-5 06-11 07-5 12,000 11,000 10,000 7,000 5,000 04-1 04-7 05-1 05-7 06-1 06-7 07-1 07-7 16~17 8 5,700 6,050 / 6.14% 18 04 1 ~07 8 19 03 11 ~07 8 7,000 5,000 4,000 3,000 04-1 04-7 05-1 05-7 06-1 06-7 07-1 07-7 1 15,000 12,000 3,000 03-11 04-5 04-11 05-5 05-11 06-5 06-11 07-5 18~19 8 TDI TDI 41,500 47,500 / 14.46% TDI 8 MDI 25,000 27,700 10.8% 9 3 15 9 MDI MDI 8/19
20 04 1 ~07 8 TDI 21 04 8 ~07 8 MDI TDI MDI M-200 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 04-1 04-7 05-1 05-7 06-1 06-7 07-1 07-7 43,000 3 33,000 2 23,000 1 04-8 05-1 05-6 05-11 06-4 06-9 07-2 07-7 20~21 22 04 1 ~07 8 DMF 23 04 9 ~07 8 DMC DMF (DMC 8,500 7,500 7,000 6,500 5,500 5,000 04-1 04-7 05-1 05-7 06-1 06-7 07-1 07-7 35,000 32,000 2 2 23,000 20,000 04-9 05-3 05-9 06-3 06-9 07-3 22~23 8 8 24 05 12 ~07 8 25 05 12 ~07 8 99% 99% 1,950 1,850 1,750 1,650 1,550 1,450 05-12 06-3 06-6 06-9 06-12 07-3 07-6 3,700 3,500 3,300 3,100 2,900 2,700 2,500 05-12 06-3 06-6 06-9 06-12 07-3 07-6 24~25 9/19
26 05 12 ~07 8 27 05 12 ~07 8 2,700 2,500 2,300 2,100 1,900 1,700 1,500 98% 05-12 06-3 06-6 06-9 06-12 07-3 07-6 650 600 550 500 450 400 350 300 250 200 98% 05-12 06-3 06-6 06-9 06-12 07-3 07-6 26~27 8 80 2009 28 05 12 ~07 8 29 05 12 ~07 8 R930 46% 19,400 19,200 1 18,800 18,600 18,400 18,200 1 17,800 05-12 06-3 06-6 06-9 06-12 07-3 07-6 2,100 2,000 1,900 1,800 1,700 1,600 1,500 05-12 06-3 06-6 06-9 06-12 07-3 07-6 28~29 600299 8 29 2007 25.09 44.81% 1.45 46.61% 0.40 10 12 16000 / 8900 7.91% 15.84% A 18,700 A 0.35 1.20 247% 07 3.57 17.31% 04 05 06 07 10/19
8 31 A 2007 8 29 2007 68 A 2007 8 30 A 5.0%~37.1% 5 A A 07 08 1.10 1.65 07 10 1 PPO A 600256 8 3 2002 2003 12 93% 2006 4 2007 5 31.7 13.77 3.6 2007 12.33 4.01 8,100 07 08 09 0.46 0.54 0.86 09 LNG 18.00 600309 8 29 9 3 15 9 18 07 08 0.84 1.11 MDI MDI 002140 8 30 EPC 13.5 12000 30 07 08 EPS 1.15 1.50 600596 8 22 2007 4 9 2499 10 50% 1249.5 50% 11/19
07 08 1.32 1.58 10 08 ST 600844 8 27 2007 1.05 1414.81% 864 0.03 21.23% 22.22% 07 08 0.26 0.57 600423 8 17 2007 5.72 5,782 12.58% 2.38% 0.28 6.67% 8 21 [2007]26 5 2824 2006 362 2007 07 08 0.63 1.11 002018 8 18 2007 3.59 2,438 0.20 61.16% 52.85% 25.00% 07 08 0.60 1.02 IDA 600143 8 11 2007 27.88 2.02 0.32 37.20% 65.13% 68.42% 8 28 75% 2004 8, 75% 25% 2007 6 25 9.52 2007 01 75% 2007 0597 2007 6 30 256,695,379.99 56,689,378.78 75% 42,517,034.09 8 30 12/19
2007 6 25 9.52 2007 01 60,000 54,000 40,500, 13,500 75% 25% 07 08 EPS 0.72 1.05 002054 8 25 2007 3.25 0.32 16.74% 28.57% 0.24 4.06% 07 08 EPS 0.52 0.66 ST 000887 8 16 2007 3.04 234.66% 0.41 0.13 2006 11 07 08 EPS 0.29 0.31 600028 8 27 07 5,668 524.64 349 15.4% 68.3% 65.3% 0.403 65.2% 2007 WTI Brent 63.49 65.72 67.13 67.55 / 5.42% 2.71% 10.7% 627.24 07 4.58 1.57 / 6.15 / 07 168 56.1% 38.3% 85 8 27 13/19
74 1.23 700 600583 8 8 26.18 4.43 0.47 30.92% 25.40% 4.44% 863 863 7 5 MODEC FPSO 5 MODEC 24 11 1 10 4 18 2009 2010 6 2009 30,000 2008 7,000 2008 8 6 8 8 MODEC Pyrenees FPSO (Letter of Award) 9 (Work Order) MODEC Pyrenees FPSO (Bhp Billiton) MODEC FPSO FPSO (Integration) 17 FPSO 7 21 MODEC FPSO Cidade de Niteroi MV18 TJSOC FPSO (LOA) 0857.HK 8 11 A 8 23 2007 6 30 3,927.3 20.3% 1,091.3 5.3% 14/19
818.3 1.4% 0.46 0.01 2007 45% 0.205690 10 8 4.45 11.8 5.53 3.7% 4.2 60 0.1% 7,980 16.5% 964.4 280.2 4.08 3.8% 1,067, 3.6% 2,388.9 7.5% 39.3 178.2 783 663 120 18.1% 130.5 30.1% 199.7 31% 54.0 24.9 85.6% 7 61.3 15.4 33.6% 2007 6 30 2,900 6.6% 2007 8 23 16.5 15/19
16.5 2006 12 31 2007 1 1 2007 8 31 0883.HK 8 6 26/18 26/18 4,961 85-200 26/18 100% 51% 26/18 8 14 2 22/15 16/05 22/15 5,228 10-60 16/05 2,064 2005 12 12 100% 51% 8 29 2007 2007 68.1 997 85.4 4.5% 74.6 0.3% 2006 58.80 5.8% 3.21 / 332.2 6.4% 145.5 10.6% 2007 7 28-2 26-3 25-1 20-1 11-7 11-8 6-1 20-1 25-1 2007 6 27 11-1 25 2.3 0.34 2007 0.13 2883.HK 8 29 2007 30 % 2007 2006 4,254.6 2,863.5 48.6 1,520.7 691.3 120.0 1,095.6 670.3 63.4 0.274 0.168 63.4 16/19
07 50.2% 37.4% 25.1% 88.5 % 2,049.2 362 2,296 2,658 2,224 434 350 84 2007 97.9% 10.3% 98.1% 97.2% 100.0% 82,836 61,653 34.4% 68,235 49,663 37.4% 141,746 109,723 29.2% 7,610 6,112 24.5% 833.7 227.0 37.4% 2007 2007 2 PNOC-EDC LIHIR 20 612.9 123.0 25.1% COSL671 COSL672 2007 11,925 11,632 2.5% 99.5% 1.1% 94.3% 758.8 356.3 88.5% COSL718 512 2007 5,691 3,494 62.9% 22,912 30,229 24.2% 6,157 3,035 102.9% 2,637 1,296 103.5% 17/19
31 07.08.31 07EPS(E) 08EPS(E) 07PE 08PE 600509 0.42 0.86 600299 1.10 1.65 600256 0.46 0.54 600309 0.84 1.11 002140 1.15 1.5 600596 1.32 1.58 600844 ST 0.26 0.57 600423 0.63 1.11 002018 0.60 1.02 600143 0.72 1.05 002054 0.52 0.66 000887 ST 0.29 0.31 002088 0.85 1.22 600028 0.77 1.00 600583 1.14 1.34 0857.HK 0883.HK 2883.HK 6 20% 6 10% 20% 6 ±10% 6 10% 18/19
2007 518029 4008866338 0755 82449257