020-87555888-340 020-87555888-692 emailgz2@gf.com.cn emaillpz@gf.com.cn IT IT () 09-11 EPS0.24 0.67 0.97 1 15 17.41 PE 74 26 18 10.37% 68.46% 229.38% -2.05% 17.81% 108.83% () 26,017.18 A () 15,210.97 : 34.38% A 58.47% ROE 4.82% ROA 1.80% 60.54% () 1.37
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1 COS Hydrochlorothiazide Sulfamethoxazole Sulfadimidine Trimethoprim Sulfadiazine R0-CEP 2006-116-Rev 00 R1-CEP 1999-097-Rev 01 R1-CEP 1995-039-Rev 03 R1-CEP 1997-009-Rev 02 R1-CEP 1997-008-Rev 03 PAGE 3 2010-01-17 13 3 2 9 2
2 DMF 1987-1-20 Sulfamethoxazole 1987-1-20 Trimethoprim 2005-6-24 Nabumetone 2006-4-28 Meclizine Hydrochloride 2009-4-2 Sulfadiazine 1990 Ketoprofen 2000 Buspirone Hydrochloride 3 DMF 1998 Amikacin Sulfate 1998 Tobramycin 1999 AMIKACIN HYDROCHLORIDE 2006 TOBRAMYCIN (FORM-1) 2006 LOVASTATIN 2007 / Mycophenolic acid 2007 Mycophenolate mofetil 2007 AMIKACIN SULFATE (1:1.8) PAGE 4 2010-01-17
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3 2009E 2010E 2011E VE 30000 55000 67500 83% 23% 44% 52% 58% 15000 15000 15000 0% 0% 20% 20% 20% 15000 16500 18150 10% 10% 20% 20% 20% 13000 14950 17192.5 15% 15% 15% 15% 15% 18000 22500 28125 25% 25% 30% 35% 37% 91000 123950 145968 36.21% 17.76% 29.18% 36.32% 40.26% PAGE 10 2010-01-17
4 2006A 2007A 2008A 2009E 2010E 2011E 501.37 547.56 552.52 910.00 1239.50 1459.68 : 418.19 455.88 448.39 644.50 789.33 872.02 0.27 1.81 2.04 3.36 4.57 5.38 18.64 20.05 19.22 45.50 68.17 87.58 34.79 48.48 49.16 116.48 136.35 160.56 16.35 18.63 20.66 25.95 31.77 31.17 0.02-4.89 4.23 0.00 0.00 0.00 : 0.03 0.04 0.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.13 7.63 8.93 74.21 209.31 302.96 : 0.14 3.00 4.90 0.00 0.00 0.00 13.27 10.63 13.84 74.21 209.31 302.96 : 0.00-2.50 0.36 11.13 31.40 45.44 13.27 13.13 13.48 63.08 177.92 257.51 : 0.00-0.96-0.91 1.50 4.00 5.00 13.27 14.09 14.39 61.58 173.92 252.51 PAGE 11 2010-01-17
2006A 2007A 2008A 2009E 2010E 2011E 38.37 51.61 75.57 76.67 180.42 308.32 120.61 99.53 88.42 175.00 234.00 296.00 119.97 164.17 161.84 242.48 252.69 294.36 0.00 0.00 0.00 0.00 0.00 0.00 0.43 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 337.45 315.12 299.75 280.28 377.80 475.32 106.96 103.90 149.32 132.75 116.17 99.60 0.00 4.06 1.88 1.88 1.88 1.88 723.80 738.39 776.79 909.05 1162.97 1475.48 239.10 210.00 132.50 132.50 132.50 132.50 196.47 214.38 275.56 344.74 420.74 475.74 0.00 0.00 49.50 49.50 49.50 49.50 19.86 10.00 3.00 3.00 3.00 3.00 455.43 434.38 460.56 529.74 605.74 660.74 217.30 217.30 217.30 217.30 217.30 217.30 144.60 147.32 146.06 146.06 146.06 146.06-93.53-79.44-65.06-3.48 170.44 422.95 268.36 285.17 298.30 359.88 533.80 786.31 0.00 18.84 17.93 19.43 23.43 28.43 268.36 304.01 316.23 379.31 557.23 814.74 723.80 738.39 776.79 909.05 1162.97 1475.48 2006A 2007A 2008A 2009E 2010E 2011E 2.61 4.51 6.61 39.04 260.53 282.06-30.61-2.27-79.73-30.00-150.00-150.00-13.89-25.77-43.42-7.95-6.77-4.17-41.89-23.53-116.54 1.09 103.76 127.90 PAGE 12 2010-01-17
Buy Hold Sell 12 10 12-10%+10% 12 10 PAGE 13 2010-01-17