1 2013 4 7 2013311 2013 9 26 2013838 60%
10D 18 A 21 01082019988 01082255988 [1999]6 1999 3 26 18900 41% 33% 13% 13% 2015 5 12 1 2
3
4 2
5 3
4 6
5 EMBA 7
8 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
9 17 18 19 20 21 22 23 24 25 1 2 1 2 3 4 5 6
10 7 8 3 1 2 3 4 5 6 7 8 4 1 2 3 4 1 1 2
11 3 4 5 6 2, 3 1 2
12 3 4 1 2 3 5
1 1983 10 31 199824 95566 01066594942 1998 110 60 QFIIRQFIIQDII 2015 3 31 328 303 QDII 25 13
14 2007 SAS70 AAF01/06ISAE3402SSAE16 2013 ISAE3402SSAE16, 1 18 A 20 100088 0108201979982019795 0108225598182255982 2 1 1 1
15 01066594904 01066594946 95566 www.boc.cn 2 69 69 010-85106055 010-85109219 95599 www.abchina.com 3 7088 7088 075583077278 075583195050 95555 www.cmbchina.com 4 188 188 021-58781234
021-58408483 95559 www.bankcomm.com 5 8 C 8 C 010-65557053 010-65550827 95558 http://bank.ecitic.com 6 154 168 9 02152629999 02162569070 95561 www.cib.com.cn 7 79 A 79 A 0551-62667635 0551-62667684 4008896588 16
17 www.hsbank.com.cn 8 55 55 010-66107909 010-66107914 95588 www.icbc.com.cn www.spdb.com.cn
18
19
20
21
22
23
24
25
26
27
28
29
30
31 8
32
33
34
10D 18 A 21 01082019988 01082255988 256 14 256 14 02151150298 35
02151150398 021 021 36
37 60%-95% 80% 0%40% 3% 5% 1
38 1 GDP PPICPI 2 3 4 2 1
39 80% 2 1 A B 2 PEG P/E P/B / EV/EBIT DCF 3
40 4 1 2 1 2 3 4
41 5 6 3 1 2 1 2 3 4 5 6 1 1 60%-95%
42 80% 0%40% 2 5 3 10 4 10 5 3 6 10 7 0.5 8 10 9 20 10 ( ) 10 11 10 12 BBB (BBB) 3 13 14 15 40%
43 16 10 6 1 2 3 4 5 6 7 8 80%* 300 + 20%*
44 300 300 300 A 300 300 60%-95% 80%20% 80%* 300 + 20%* 2015
1 2015 3 31 1 2 45
3 4 5 6 7 8 9 1 46
2 10 1 2 3 11 1 2 3 4 5 47
6 1 2 3 4 5 6 7 48
49 8 1 1.5% HE 1.5% H E 3 2 0.25% HE 0.25% H E 3 37 1 2 3 4
50 2