08Q3 146.3 9.8% 08Q1 61% 08Q3 52.2% 2009 1 16 08Q3 53% 14.29 70.5% 90% 08Q3 1.3% 17.1% 70.5% 90% GOOGLE 94% 08Q3 342.6 C2C 16.2%B2C 20.1%C2C B2C 08Q3 B2B 0.7% B2B B2B () (86-755)83734445 Zhouwj@cmschina.com.cn 2008 08Q3 51.9% QQ 50 87.3% 08Q3 51.9% 70.5%78.0% 1 of 8
08Q3 146.3 9.8% 08Q1 61% 08Q3 52.2% 37% 2 of 8
B2B 2008 2008Q3 51.6 12.9% 78.0% 79.2% 2008 53% 08Q3 14.29 70.5% 3 of 8
90% 08Q3 1.3% 17.1% 10 7.6% 18.8% 79 10 11 12 4 of 8
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GOOGLE 94% IUSERTRACKER,() 08Q3 342.6 C2C 16.2%B2C 20.1%C2C B2C 6 of 8
B2B 08Q3 14.7 0.7% B2B B2B B2B 7 of 8
B2B 2008 08Q3 51.9% 2008 2008 8 of 8
TOP10 2008 1 547013 2 Online 532561 3 532317 4 516770 5 516630 6 2 512038 7 500234 8 498363 9 495388 10 493330 QQ.COM,() QQ 50 87.3% 9 of 8
C2C B2B 08Q3 10 of 8
51.9%70.5%78.0% 08Q3 87.3% C2C 81.6% 73.3% 65.1% 57.3% B2B 55.1% PE PE PEG PS DE ROE 700 HK Equity 38.15 0.99 15.52 36.44 5.64 70.75 41.74 35.19 BIDU US Equity 32.94 0.77 11.04 108.21-63.00 31.37 37.23 YHOO US Equity 30.23 1.39 2.46 8.46 7.86 59.27 9.98 7.06 CTRP US Equity 25.30 0.94 4.35 64.48-80.30 33.72 33.05 1688 HK Equity 19.13 0.59 10.01 58.58-87.05 21.24 51.50 SINA US Equity 18.16 0.64 3.97 15.63 20.00 61.52 20.73 13.08 SOHU US Equity 16.11 0.32 4.90 40.75-65.72 17.31 18.64 NCTY US Equity 14.23 0.92 6.83-26.83 5.65 - SNDA US Equity 13.40 1.04 4.97 59.64-67.29 40.61 47.47 NTES US Equity 12.84 0.88 5.93 9.40 18.88 81.23 54.47 41.35 PWRD US Equity 11.38 0.32 5.62 593.25-82.73 50.83 N/A GA US Equity 9.83 0.86 6.46 308.74-88.60 70.69 34.76 EBAY US Equity EBAY 9.55 0.54 2.31 28.52-77.02 26.12 3.08 8288 HK Equity N/A N/A N/A 694.49 N/A N/A N/A N/A BLOOMBERG() 11 of 8
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