1
2
2008 16.17% 2293.78 2700 A 2245 519 2000 1802 2004 4 7 1783 2008 9 18 10.54% A 1 2000 2001.6.14 2245 2004.4.7 1783 2008.9.181802 2008 10% -11.25%-15.19%-15.43% -15.48%-16.31% 2005 3
-33.62%-30.84%-28.40% -26.81%-25.42% 3G 2008 1 2 12 2007 62.54%2007 / 2008 2 2007 =- 300 2008 9 26 Wind 4
A 12 34 12 A 5
6
1 0.27 1 2002 1 1999 11 + 2008 1 2 2 6 1.95%, 03 1.59%, 1.83% 5.67% 17.5% 3 4 5 7
2007 3 2007 4 CPI 2008 4 PPI 8 2008 3 4 4 GDP 3 A 197376 197376 / ///// / A 3 14% 9% 12% 10% 8% 6% 4% 2% 8% 7% 6% 5% 4% 3% 2% 1% 0% 0% Wind 197376 1974 CPI 1973-761975 CPI 1976 GDP 1975 500 1975 500 1976 CPI 11974.12-1975.9 21975.9-1976.12 A 1974.12-1975.9 8
4 197376 GDPCPI 500 20% 15% 10% 5% 40% 35% 30% 25% 20% 15% 10% 0% -5% 5% 0% -5% -10% -10% -15% 1974.1275.9 500 22% 52.83%30.72%30.24%29.4% 28.9%25.49%15.82%15.01%-2.06% 1 23 147.83%4 56 7 1975.9-1976.12 / 500 28% 34.24%29.23%27.27%24.55%23.83% 19.74%19.43%15.29%-1.47% 9
5 1974.1275.9 74.1275. 9 197376 500 V V 10
6 70 9 3 0 3 3 0 0 0 0 0-6 -6 0-6 -6 0 0-3 0 0-3 -3 3 0-6 -18-15 11
7 70 500 8 70 9 70 10 70 11 70 12 70 12
13 70 14 70 15 70 16 70 1 A 2 1992 25% 2002 13
2006 2003-04 8 27.4%1 2 3 17 14
Wind 10% 94% 10% 242% 10% 40% 18 2008 IPO A 15
2008 A 4560 1011 12 900 1280 2380 26.95%13.12%9.99%6.52% 5.59% 62.15% 17.63%16.88%16.82% 14.06% 12.19% 100 47% 9 19 2008 A 1400 1200 1000 800 600 400 200 30% 25% 20% 15% 10% 5% 0 0% Wind 344 1.27 60.58% 8.98 4500 21.3% A 10 A 53 9 19 8 1% 20 0.1%-1%25 0.1% 9 A 40 16
6 1-39.27 20 A A 2008 9 26 A PE 18.51 14.71 300 17.65 14.53 A 2005 1000 A PE 21.5 2005 2003 PE 2006 16 PE 2006 A 20 A pe 2008 A pe 2008 2007 17
PE PE A A A 2008 PE 2005 1000 PE 2000 1800 1800 2008 A 2007 10 6124 1802 18
GDP2000 700-1200 20% 3G 3G 2010 2-3 1 2 19
1 1 10 2 3 4 1 GDP2000 10% 60 GDP 36% GDP 5% 15% GDP 2 3 700-1200 20% 4 96 1 20-60 60% 50 2200 08 0910 42%29%26% PE 241915 09 8 9 2 2 2008 1~8 6.84 21.9%5 6 8 17% 20
21 2008 24% 30% 50% 20 08 20~25 A 3 11.8% 21
23 2008 4 3G 20088CC C WTD C81 8140% C C260 C200732% 91617TDTD2.380 TDTD9TD TD26WCDMA 2007+140 3G3G2010 2-3 3G 22
5 18 1374 64.2% 6 4 7 5 5~7 5.23%10.84% 12.01% 2008 20% 7 2008 10 1 7 23
08 08 8 04 07 8 06 07 3 07 4 2 24
9 2008 2008 40% 22 10 25
9 18 11 500-900 /, 10 05 6.27 0.96 9.38 1.33 30% 08 PE 7.4 PB 2.0 08 PEPB 6.1 1.3 40 9 25 08 5 6.4% 1100 1350 11 PEPBPE PEPBPB2.9 2.762.613.05PBPB SHFE LME 7000 7 PB1 12 26
2008 2008 17 27.3% 30.9% 22% 2008 27
580001 2005 2 2 2006 128.15% 39 7 2007 12 28 1.0484 2007 99.35% 12 2008 9 26 2.2880 58 23 7 10 17.20 580002581002 2006 12 15 2007 2008 9 26 1.5247 2008 6 580003 2008 4 23 2008 9 26 0.7400-26.00% 582001 2008 10 6 28