Ping An Insurance (Group) Company of China, Ltd. 2318 13.09(2) 2008 2009 4 8 Clive Bannister 1
二零零八年年報
1 4 8 9 20 25 30 42 46 47 85 87 98 99 100
2009 4 82008 19172 甦 1
2009 1 2
Fortis SA/NV Fortis N.V. Fortis Bank NV/SA 3
1 2 3 15 12 2008 2008 227.90 8.73 300% 180%10% 100% 2008 150 2 20 3 2008 150 4
4 5 0.54% 153.7% 10% 2008 485.14 4,700 2008 50.5% 14.3% 14.9% 2008 2008 5 20 4,000 3,500 4 3,000 5 5
6 7 6 2008 2 28VIP 7 2008 9 6 2008 2008 7 500 500 2008 4 2008 6 2008 100 100 2008 12 2008 12 4.81% 2008 2008 30 2013 500 2030 20 6
2009 2009 4 8 7
1 Ping An Insurance (Group) Company of China, Ltd. Ping An of China 2 3 4008866338 0755-82431029 E-mail ir@pingan.com.cn pr@pingan.com.cn 4 518048 http://www.pingan.com ir@pingan.com.cn pr@pingan.com.cn 5 http://www.sse.com.cn 6 A A A601318 H H H2318 7 1988 3 21 100000000012314 440300100012316440300100012316 10001231-6 1 16 8 2 18 8
9 4,500200 20 1988 20 35
10
11
1988 20 12
13
14
15
16
17
18
19
2008 (2,307) (2,453) 662 813 62,357 2008 (77) 44 (113) (19) 14 (151) [2008]43 1 1 2008 2007 662 15,086 (1) (199) 113 (2) (9,658) (4,988) (3) 9,294 9,373 (4) 130 (883) 39 (13) 268 18,688 20
2007 12 31 78,757 107,234 (1) 199 (2) (44,920) (35,262) (3) 50,599 41,305 (4) (1,417) (1,547) (68) (107) 82,951 111,822 (1) 2008 7 11/365 50% 1/2 (1/365 2008 7 1 1/365 (2) 4 (3) 4 (4) 12 2 2008 2007 129,383 100,945 (25,339) (15,090) (6,034) (4,180) 98,010 81,675 21
3 2008 2007 10,580 65,067 28,248 58,182 (17,668) 6,885 367 299 (25,960) (98) (25) (4) 7,622 (12,422) (7,416) 52,842 4 2008 2007 14,025 15,524 2,576 3,656 (60) 309 1,931 585 260 253 319 (442) 19,051 19,885 22
2008 12 31 2007 12 31 (%) 2006 12 31 707,640 651,344 8.6 463,288 78,757 107,234 (26.6) 45,260 10.72 14.60 (26.6) 7.31 2008 2007 (%) 2006 139,803 165,263 (15.4) 107,919 (2,453) 17,483 (114.0) 7,736 662 15,086 (95.6) 7,342 813 14,857 (94.5) 7,328 62,357 31,860 95.7 45,745 0.09 2.11 (95.7) 1.19 0.09 2.11 (95.7) 1.19 0.11 2.08 (94.7) 1.18 0.11 2.08 (94.7) 1.18 (%) 0.8 14.1 13.3 16.2 (%) 0.7 16.9 16.2 18.8 (%) 1.0 13.9 12.9 16.2 (%) 0.9 16.6 15.7 18.8 8.49 4.45 90.8 7.38 23
2008 2007 2006 101,316 78,237 67,619 (%) 29.5 15.7 17.6 (1) 406,654 364,268 295,940 (%) (2) 4.0 4.8 4.5 (%) (2) (2.4) 14.2 7.8 19,723 16,083 9,504 (%) (3) 3.6 4.2 3.5 (%) 183.7 287.9 183.1 20,474 15,795 11,226 (%) 29.6 40.7 43.7 (1) 26,557 21,303 16,162 (%) (2) 4.3 4.0 3.7 (%) (2) 7.0 14.7 5.3 15,676 13,382 10,930 8,557 6,890 5,851 14,869 10,915 8,577 (%) (4) 105.1 101.8 101.8 (%) (5) 66.5 61.1 63.9 (%) 153.3 181.6 131.3 (1) (2) Modified Dietz (3) = 2 (4) = (5) = 24
(%) (%) 1 588,859,239 8.02-588,859,239-588,859,239 2 367,542,525 5.00-367,542,525-367,542,525 3 3,025,007,872 41.19-2,165,184,832-2,165,184,832 859,823,040 11.71 3,025,007,872 41.19-2,165,184,832-2,165,184,832 859,823,040 11.71 4 3,981,409,636 54.21-3,121,586,596-3,121,586,596 859,823,040 11.71 1 805,000,000 10.96 3,121,586,596 3,121,586,596 3,926,586,596 53.46 2 3 2,558,643,698 34.83 2,558,643,698 34.83 4 3,363,643,698 45.79 3,121,586,596 3,121,586,596 6,485,230,294 88.29 7,345,053,334 100.00 7,345,053,334 100.00 389,592,366 389,592,366 3 2010 3 1 331,117,788 331,117,788 3 2010 3 1 139,112,886 139,112,886 3 2010 3 1 A 50 2,776,586,596 2,776,586,596 1 2008 3 3 A 345,000,000 345,000,000 2008 3 3 3,981,409,636 3,121,586,596 859,823,040 25
1. A 2007 3 1 33.80 1,150,000,000 2007 3 1 4,786,409,636 2006 11 132006 20062006 H 2007 29 33.80 A11.5 A 7,345,053,334 2007 39A2007 3 1 2. 1 389,592,366 2010 3 1 2 331,117,788 2010 3 1 3 139,112,886 2010 3 1 3. 4. 26
329,788 323,563 (%) 8.43 618,886,334 8.36 613,929,279 7.44 546,672,967 3,491,522 5.30 389,592,366 389,592,366 5.17 380,000,000 4.51 331,117,788 331,117,788 3.69 271,271,633-30,314,051 2.48 181,984,944-13,470,976 2.09 153,724,999-13,075,001 2.00 146,693,000-29,307,000 146,693,000 618,886,334 H 613,929,279 H 546,672,967 A 380,000,000 A 271,271,633 A 181,984,944 A 153,724,999 A 146,693,000 A 55,179,780 A 43,981,926 A 27
H 1,232,815,613 73.45 16.78% 5% 80% 20% 100% 100% 100% 95% 5% H A 8.43% 8.36% 7.44% 5.30% 4.51% 5.17% 18.04% 42.75% 5% 5% (1) H 1,232,815,613 16.78% 1969 6 17 1,500 1,468.74 8 Canada Square, London, E14 5HQ, United Kingdom 1866 8 14 300124.005 224.94114.8351 20600 5 20 1959 1 1 7,500 6,052 8 Canada Square, London, E14 5HQ, United Kingdom 859,500 28
(2) A 546,672,967 7.44% 2004 10 13 1846 46 (3) A 389,592,366 5.30% 1992 12 30 2.05 95%5% 1010 2 2002 54 100% 100% (4) A 380,000,000 5.17% 2000 10 27 90 1 512B 16 50% 29
53 2006.05 2009 45 2006.05 2009 56 2006.05 2009 38 2006.05 2009 62 2006.05 2009 * 62 2006.05 2008.05 50 2008.05 2009 46 2006.05 2009 54 2006.05 2009 60 2006.05 2009 57 2006.05 2009 57 2006.05 2009 58 2006.05 2009 77 2006.05 2009 59 2006.05 2009 59 2006.05 2009 58 2006.05 2009 63 2007.03 2009 甦 51 2007.03 2009 71 2007.06 2009 75 2006.05 2009 30
Richard JACKSON 70 2006.05 2009 66 2006.05 2009 40 2006.05 2009 45 2006.05 2009 39 2006.05 2009 53 2006.05 2009 41 2006.05 2009 39 2007.07 2009 61 2006.06 Richard JACKSON 53 2005.11 52 2004.01 52 2003.02 53 2007.04 39 2007.01 46 2007.01 51 2007.01 43 2008.10 John PEARCE** 46 2007.01 2008.12 *** 38 2007.01 * 2008 5 ** John PEARCE *** 31
H 248,000 H 248,000 H 7,500 * H 7,500 * H 177,500 H 177,500 H 12,000 H 12,000 * 1. 2008 12 31 A 146,693,000 176,000,000 29,307,000 2. 9.81% 139,112,886 (1) 4,743,600 4,743,600 500,000 500,000 4,168,300 4,168,300 502,080 502,080 992,800 992,800 2,358,240 2,358,240 64,602 64,602 300,000 300,000 1,721,520 1,721,520 300,000 300,000 1,307,680 1,307,680 300,000 300,000 300,000 300,000 1,373,040 1,373,040 100,000 100,000 19,031,862 19,031,862 32
(2) (%) (%) (%) 5.86 5.86 2.93 2.93 3.83 3.83 0.44 0.44 0.12 0.12 0.29 0.29 Richard JACKSON 0.59 0.59 1.17 1.17 1.76 1.76 0.59 0.59 3.57 3.57 0.70 0.70 3.81 3.81 0.59 0.59 0.18 0.18 26.43 26.43 33
2001 4 1994 4 1988 3 2006 5 2003 10 2000 2 19932000 2003 2 1994 10 1995 32008 10 1990 7 2002 10 2002 10 2001 McMaster (Anthony Philip HOPE)2005 8 2002 11 1987 1996 2006 10 31 2007 12 1 AIG Europe (UK) Limited 2007 3 14Paris Re Holdings, Zug, SwitzerlandParis Re, Bermuda 2008 5 (Clive BANNISTER)2008 5 2006 11 2001 7 2006 11 1998 62001 5 HSBC Private Bank (UK) Limited HSBC Private Bank (Monaco) Limited HSBC Guyerzeller Bank AG Switzerland HSBC Private Bank (France) 1998 19961998 1994 Booz Allen & Hamilton 1982Exeter 2003 5 2000 19972000 2003 5 2002 1988 19982000 34
35 2004 3 2003 11 2003 4 2003 6 2005 6 2005 8 2004 9 2004 42004 9 1992 12 2004 4 2006 5 2005 4 1980 1996 1997 2000 2002 2006 5 1998 1 1987 6 1993 2 1995 9 2003 1999 198713 19881993 2003 5 16161984 1998 19921997 2003 5
2005 6 2004 9 1994 5 2006 5 2006 4 Evergro Properties Limited 2006 10 31 2006 5 8 2007 10 31 2007 3 2008 3 Inter- Citic Minerals Inc. 甦 2007 3 2007 6 1963 19992000 52005 12 1994 82003 5 2003 5 2003 4 2006 5 2003 5 EMBA 2006 5 2006 5 36
2006 5 2006 5 2007 7 2008 8 1996 2006 62006 3 2004 1 19962003 19891996 19751989 Richard JACKSON 2005 11 2007 3 JACKSON 2005 11 1985 2005 JACKSON 19741985JACKSON JACKSON 2004 1 1989 62006 72007 1 2005 82006 7 20022004 19982002 19951997 19941995 2003 2 2007 4 2008 9 2001 5 2003 22007 1 2001 62003 2 19952001 HPC 2007 4 1991 112004 32007 4 2002 122007 4 2002 12 2005 6 2002 412 2007 12005 8 2008 10 CEO 2000 2 2004 12 2007 12003 92007 1 2003 92008 12 Hamilton 37
2007 12006 2 2008 8 CEO 2002 6 2006 2 2007 1 2003 10 2006 2 20022008 20012002 19932001 Olivetti Olivetti & Oracle AT & T 2007 1 1992 12 2003 2 2007 1 2002 62006 5 2002 62007 4 19992002 19961999 19951996 1993 1995 John PEARCE2007 1 2007 6 PEARCE 2007 1 20032006PEARCE 20002003 19912000PEARCE PEARCEMacquarie PEARCE 2007 1 2008 3 2001 52004 22007 1 2002 122007 1 20012002 (FSA)(MAAA) 2008 102003 9 2007 4 2004 62008 5 (FCIS) (FCS) 38
2004 9 2000 4 2006 10 2005 4 1998 1 2000 1 2003 6 2003 11 1996 10 39
53 2006.5-2009 0.00 0.00 45 2006.5-2009 H H 954.87 546.30 248,000 248,000 56 2006.5-2009 243.29 158.14 38 2006.5-2009 0.00 0.00 62 2006.5-2009 0.00 0.00 50 2008.5-2009 0.00 0.00 46 2006.5-2009 44.78 38.08 54 2006.5-2009 61.19 50.57 60 2006.5-2009 0.00 0.00 57 2006.5-2009 0.00 0.00 57 2006.5-2009 0.00 0.00 58 2006.5-2009 0.00 0.00 77 2006.5-2009 20.00 16.00 59 2006.5-2009 30.00 23.20 59 2006.5-2009 30.00 23.20 58 2006.5-2009 H 7,500 H 7,500 30.00 23.20 63 2007.3-2009 20.00 16.00 甦 51 2007.3-2009 20.00 16.00 71 2007.6-2009 20.00 16.00 75 2006.5-2009 25.00 19.80 70 2006.5-2009 6.00 5.04 66 2006.5-2009 6.00 5.04 40 2006.5-2009 0.00 0.00 45 2006.5-2009 0.00 0.00 39 2006.5-2009 0.00 0.00 53 2006.5-2009 37.84 32.13 41 2006.5-2009 33.34 29.10 39 2007.7-2009 57.85 48.07 61 2006.06-793.03 457.27 Richard 53 2005.11-1,584.25 891.67 JACKSON 52 2004.01-159.43 111.66 52 2003.02- H H 563.84 331.18 177,500 177,500 53 2007.04-136.46 98.58 39 2007.01-432.56 261.11 46 2007.01-380.38 230.24 51 2007.01-131.71 96.17 43 2008.10-39.18 27.20 John 46 2007.01-2008.12 720.65 720.65 PEARCE 3 38 2007.01- H 12,000 H 12,000 410.18 246.72 6,991.83 3,817.67 40
1 2 3 4 5 2008 2008 10 131012 John PEARCE 721 15235.42 1. 2008 3 2. 2008 5 132007 3. 2008 10 4. John PEARCE 82,8086560,889 73.6% 3,799 4.6% 6,072 7.3% 12,048 14.5% 3,656 4.4% 36,630 44.3%32,848 39.6% 9,674 11.7% 41
200721 H1 193 9 7 8 2008 5 2007 12 31 2008 6 30 2009 2008 12 31 2008 2 04-07 42
9 3 4 (Euromoney) (The Asset Magazine)3A Corporate Governance Asia 2008 IR Magazine 43
7 8 7 1 8 8 8 7 1 8 8 8 7 1 甦 8 5 3 8 8 2008 44
2008 2008 2008 6 28 2009 6 30 2004 2008 45
2008 5 132007 20072007 20072007 2007 2008Clive BANNISTER< > H 20% H 2008 5 14 2008 3 52008 A A A 2008 3 52008 A 2008 3 52008 A 2008 3 6 2008 7 172008 2008 7 18 46
2008 150 2008 227.90 2007155.81 20088.73 1. 2008 2007 (2,134) 7,831 408 1,484 1,444 1,537 550 1,492 (1) 605 3,237 873 15,581 (1) 2008 21.34 200714.84 20084.08 14.442007 2007 5.502007 200725.36 1.88 2008 2007 139,803 165,263 (142,110) (148,096) (2,307) 17,167 873 15,581 47
2. 2008 12 31 258.55 227.90 2008 2007 2007 12 31 (1)(3) 18,735 16,268 (2)(3) (907) 34,513 (3) (25,855) 92 (3) (7,935) 50,781 (%) (3)(4) 4.1 4.5 (%) (3)(4) (1.7) 14.1 (1) (2) (3) (4) Modified Dietz 2008 2007162.6815.2% 2008187.35 20074.5% 2008 4.1% (%) (%) 84,412 18.2 33,189 7.5 84,412 18.2 33,189 7.5 286,791 61.7 188,888 42.8 11,994 2.6 11,243 2.5 155,742 33.5 58,537 13.3 119,055 25.6 119,108 27.0 3,725 0.8 2,411 0.6 3,725 0.8 2,411 0.6 (1) 374,928 80.7 224,488 50.9 22,929 4.9 91,707 20.8 2,958 0.6 12,903 2.9 19,816 4.3 78,804 17.9 155 0.0 13,443 2.9 15,627 3.5 2,473 0.5 6,245 1.4 10,970 2.4 9,382 2.1 (1) 36,372 7.8 107,334 24.3 5,509 1.2 1,389 0.3 47,856 10.3 108,097 24.5 (2) 464,665 100.0 441,308 100.0 (1) (2) 48
% 2008 (2007 ) 1.2 (0.3) 7.8 (24.3) 10.3 (24.5) 80.7 (50.9) 100% 10.9% 2007 12 31 50.9% 80.7% 24.3% 7.8% 100,945 85,405 21,666 16,994 129,383 27,014 102,369 3. 2008 68,411 79,279 2008 4.65 20075.01 2006 2007 2008 4. 2008 2007 155.24 9.7% 2008 140.25 5. 2008 2007 2,840 1,488 (6,166) 414 (3,326) 1,902 200714.88 2008 28.40 20074.14 2008-61.66 1. 2008 2007 101,178 79,177 1,158 99 33 3 102,369 79,279 (%) (1) 14.0 16.0 (1) 49
2008 14.0% % 2008 (2007 ) 36.7 (34.1) 9.0 (10.2) 40.3 (39.7) 14.0 (16.0) 2008 352,000 2008 200 238255.574,731.45 2008 2007 36,492 33,808 458 351 36,950 34,159 13 91.6% 90.4% 25 86.2% 81.2% 5,423 5,316 (1) 1.1 1.3 355,852 301,801 3,366 2,857 39,878 26,310 (1) 2008 2008 2008 791.04 23.0% 100% 200885.41 18.8% 3,649 46 13 25 90% 80% 35.63 4 50
2004 12 132006 12 27 2008 5 2008 12 31 10 35 64 63 2008 90.17 200748.872008 12 31 124.02 2007 12 3149.83 146.13 2007 12 3150.50 5 2008 3 32 19951999 5% 1999 6 2.5% 1999 6 2.5% 2008 3.5% 6.1% 2007 3.7% 6.1% 2008 2008 12 31 32.8% 2007 12 31 35.1% 2008 2007 102,369 79,279 101,316 78,237 24,023 49,595 (16,114) 6,395 (374) (510) 1,069 465 109,920 134,182 (13,362) (13,333) (19,723) (16,083) 781 530 (32,062) (76,304) (6,276) (3,514) (498) (1,808) (11,811) (9,004) (6,901) (7,109) 171 175 (25,113) 6 (1,037) (302) (115,831) (126,746) (5,911) 7,436 11 (1) (5,900) 7,435 3,766 396 (2,134) 7,831 2008 21.34 51
2008 2007 19,719 15,127 1,244 763 1,911 1,836 22,874 17,726 56,230 46,584 79,104 64,310 66 67 14,268 6,914 2 2 14,336 6,983 491 280 14,827 7,263 4,705 4,361 3,508 2,900 8,213 7,261 225 445 200772.63 104.1% 2008148.27 200777.06 9.5% 200884.38 200729.0021.0% 200835.08 2008 2007 37,433 30,411 33,870 21,453 8,454 8,318 4,943 5,249 7,172 4,873 5,076 4,337 5,421 4,638 102,369 79,279 % 2008 (2007 ) 7.0 (6.1) 5.0 (5.5) 5.3 (5.8) 8,438 7,706 102,369 79,279 4.8 (6.6) 8.2 (10.5) 36.6 (38.4) 33.1 (27.1) 2007643.10 23.0% 2008 791.04 2007 177.26 29.0% 2008228.74 2007 465.84 20.7% 2008 562.30 200716.342.7% 200816.78 52
2008 2007 (%) (%) 14,268 13.9 10,085 12.7 9,944 9.7 8,035 10.1 8,858 8.7 6,983 8.8 7,448 7.3 5,876 7.4 7,321 7.1 5,839 7.4 6,643 6.5 5,351 6.8 5,733 5.6 4,634 5.8 4,373 4.3 3,560 4.5 3,651 3.6 2,689 3.4 3,311 3.2 2,534 3.2 71,550 69.9 55,586 70.1 102,369 100.0 79,279 100.0 2008 2007 (1)(3) 15,520 14,767 (2)(3) 151 28,989 (25,107) 92 (3) (9,344) 43,756 (%) (3)(4) 4.0 4.8 (%) (3)(4) (2.4) 14.2 (1) (2) (3) (4) Modified Dietz 2007147.675.1% 2008155.20 2007 12 31 3,642.45 4,066.54 20074.8% 20084.0% 2008 93.44-2.4% 2008 2007 2,460 1,732 370 490 2,830 2,222 5 14 2,877 2,282 506 598 3,388 2,894 3,131 4,584 1 8,283 4,742 11,414 9,327 158 143 1,237 937 64 54 410 375 158 76 64 55 2,091 1,640 19,723 16,083 200722.2227.4% 2008 28.30 200793.2722.4% 2008114.14 200716.4027.5% 200820.91 53
200735.14 2008 62.76 2008320.62 2007 763.04 (1) 2007 284.93 (2) 2007 180.253 2008 48.71 (4) 2008 2007 1,230 1,243 373 345 10,208 7,416 11,811 9,004 11.5% 11.4% 200790.0431.2% 2008118.11 2008 11.5%2007 2008 12 31 2007 12 31 1,071 586 113 169 1,184 755 47,163 44,534 91,019 84,477 115,498 116,460 63,385 39,339 31,649 35,549 348,714 320,359 33,233 28,603 10,252 8,610 43,485 37,213 393,383 358,327 2007 12 313,583.27 9.8% 3,933.83 54
2. 2008 10 2008 12 31 4059.64 405.52 2008 105.1% 2008101.2% (%) 105.1 101.8 101.8 2008 2007 37.9 40.7 38.6 26,751 21,450 (%) (1) 10.9 10.3 63.9 61.1 66.5 (1) 2008 10.9% % 2008 (2007 ) 2006 2007 2008 36.1 (36.0) 41.6 (42.5) 2008 2007 10.9 (10.3) 11.4 (11.2) (1) 8,206 7,122 1,611 1,623 9,817 8,745 10,656 10,420 13,461 10,948 (1) 2007 401,700 55
2008 12 3147.63 18.58 28.80 0.25 1.19 2008 Allianz SE Reinsurance Branch Asia Pacific Everest Reinsurance Company, SCOR Reinsurance Company (Asia) Ltd. 200714.84 2008 4.08 2008 2008 2007 19,377 15,241 6,185 5,277 1,452 1,148 27,014 21,666 2008 2007 27,014 21,666 20,474 15,795 1,976 2,575 (20) (45) (40) (10) 110 33 % 2008 (2007 ) 22.9 (24.4) 5.4 (5.3) 71.7 (70.3) 22,500 18,348 (14,869) (10,915) 2,179 1,913 (922) (649) (23) (16) (1,538) (1,278) (3,029) (1,987) (4,660) (4,093) 1,285 992 (286) (51) (47) (16) (21,910) (16,100) 590 2,248 5 (37) 2007152.41 27.1% 2008193.77 200752.77 17.2% 200861.85 200724.08 9.6% 2008 26.38 20076.1823.3% 20087.62 20074.4335.2% 20085.99 200711.48 26.5% 200814.52 595 2,211 (187) (727) 408 1,484 56
2008 2007 (%) (%) 5,234 19.4 4,106 19.0 1,960 7.3 1,607 7.4 1,830 6.8 1,397 6.4 1,814 6.7 1,518 7.0 1,669 6.2 1,450 6.7 1,524 5.6 1,259 5.8 1,299 4.8 870 4.0 1,148 4.3 947 4.4 1,008 3.7 842 3.9 980 3.6 782 3.6 18,466 68.4 14,778 68.2 27,014 100.0 21,666 100.0 2008 2007 (1) 1,027 652 (2) 971 1,882 (339) 1,659 2,534 (%) (3) 4.3 4.0 (%) (3) 7.0 14.7 (1) 200725.34 34.5% 200816.592007 14.7% 20087.0% 2008 2007 10,789 7,768 1,976 1,321 847 562 (1) 13,612 9,651 (1) 200777.68 38.9% 2008107.89 200713.21 49.6% 200819.76 20075.62 50.7% 20088.47 2008 4.64 1.32 1.58 (2) (3) Modified Dietz 20076.52 57.5% 200810.272007 4.0% 20084.3% 57
2008 2007 3 2,148 1,480 701 406 2008 2007 2008 2007 203 117 12 31 12 31 12 31 12 31 (1) 3,052 2,003 11.3% 9.2% (1) 200720.0352.4% 200830.52 20079.2% 200811.3% 2008 12 31 2007 12 31 4,553 3,718 3,652 2,935 352 237 8,557 6,890 2007 68.9024.2% 2008 85.57 33,752 45,218 5,047 4,895 18,371 15,704 3,293 2,695 (%) 183.7 287.9 153.3 181.6 2008 12 31 2007 2008 150 ATM 200850% 2009 1 2008 12 31 54.6186.411,459.23 58
2008 2007 3,814 3,478 206 112 (164) 5 (1) 68 491 3,924 4,086 (269) (164) 3,655 3,922 (2) (2,278) (1,769) 1,377 2,153 67 (616) 1,444 1,537 (1) (2) 2007 15.37 6.1% 200814.44 2007 4.09 2008 3.002008 2008 2007 4,838 3,200 319 163 532 646 1,331 1,305 7,020 5,314 (2,560) (1,499) (646) (337) (3,206) (1,836) 3,814 3,478 (1) 2.66% 2.81% 134,524 120,022 125,287 113,159 (1) 2007 34.78 9.7% 2008 38.14 2007 2.81% 2008 2.66%2008 20070.05 2008 1.64 59
20074.9186.2% 2008 0.682007 2008 2007 1,828 1,490 273 179 177 100 2008 12 31 2007 12 31 44,754 36,142 3,784 5,976 23,948 19,782 72,486 61,900 % 2008 (2007 ) 2,278 1,769 (1) 47.0% 41.0% (1) 5.2 (9.6) 33.0 (32.0) 61.8 (58.4) 2007 17.69 28.8% 200822.78 2007 41.0% 200847.0% IT 20071.6464.0% 2008 2.692007 2008 2007-4.9% 28.6% 2007 619.00 17.1% 2008 724.86 23.8% 447.54 2008 61.8% 200758.4% 21.1% 239.48 2008 33.0% 200732.0% 2008 36.7% 37.84 2008 12 31 2007 12 31 81,758 96,941 14,962 10,184 7,417 5,397 2,677 531 106,814 113,053 20076.16 2008-0.67 2007 28.6% 2008-4.9% 2008 2007 3.00 2008 16.9% % 2008 (2007 ) 7.0 (4.8) 14.0 (9.0) 2.5 (0.5) 76.5 (85.7) 60
20071,130.53 5.5% 20081,068.14 184.12 2007 121.73 2008 12 31 2007 12 31 69,210 58,370 2,885 3,019 176 296 180 167 35 48 72,486 61,900 391 511 0.54% 0.83% 601 420 153.7% 82.2% 20082007 5.1123.5% 20083.91 20070.83% 20080.54% 2008 3.00 2008 200782.2% 2008153.7% 2008 12 31 2007 12 31 8,510 6,209 79,573 68,466 > 8% 10.7% 9.1% > 4% 10.5% 9.1% 2008 12 31 8% 4%10.7% 10.5% 61
1. 2006 2008 A A 1838.45137.30 2008 8 IPO 5 6 115 2008 2007 1,229 1,998 370 1,111 (130) 146 6 15 (4) (4) 1,471 3,266 (82) (160) (688) (1,213) (9) (3) (779) (1,376) 692 1,890 (6) (2) 686 1,888 (136) (396) 550 1,492 2008 2007 796 1,556 511 505 14 102 1,321 2,163 (92) (165) (92) (165) 1,229 1,998 200715.5648.8% 20087.96 200719.98 38.5% 200812.29 2008 2007 (1) 113 106 (2) 127 1,151 (7) 233 1,257 (1) (2) 200712.57 2008 2.33 200714.92 20085.50 62
2. 2008 50 42 69.88 2008 12 31 114.46 118.70 2008 QDII 485.14 47,519 48,514 2008 2007 342 380 1,469 699 (150) 133 (1) (1) 4 1,660 1,215 (91) (65) (151) (218) (9) (77) (251) (360) 1,409 855 1,409 855 (202) (111) 1,207 744 (1) 16,677 2007 7.44 62.2% 2008 12.072008 2006 2007 2008 2008 2007 391 511 31 118 50 27 472 656 (85) (245) (45) (31) (130) (276) 342 380 63
20075.1123.5% 20083.91 20071.18 20080.31 20072.4565.3% 20080.85 3. 20085 470,469 452,060 20073.80 10.0% 20083.42 329,424 2008 2007 (1) 280 165 (2) 1,039 667 2006 2007 2008 1,319 832 (1) (2) 20078.3258.5% 2008 13.19 2.32 4,520.602007 2008 2008 10% 64
2008 12 31 0.65 2008 1. 2008 2007 (%) (%) 3,867 14.3 2,835 13.1 1,161 13.2 180 3.7 1,383 14.9 359 7.9 1,872 3.1 2,900 7.3 (1) 475 5.3 (1) 1,298 12.3 69 50.5 19 83.3 (1) 2007 2. 2008 12 31 99% 50% 55% 100% 93% 88% 90% 60% 30% 3. 2008 VIP VIP 2008 VIP 72% 65
1. 2008 2007 (%) 707,640 651,344 8.6 626,171 542,126 15.5 81,469 109,218 (25.4) (2,307) 17,167 (113.4) 873 15,581 (94.4) 2. 30% 2008 2007 (%) 1,177 2,027 (41.9) 304 1,192 (74.5) 17 177 (90.4) 13,084 36,457 (64.1) 6,931 4,187 65.5 11,354 4,931 130.3 2008 3,725 2,411 54.5 108 887 (87.8) 83,003 41,731 98.9 6,025 2,207 173.0 5,860 1,560 275.6 6,551 4,051 61.7 9,500 3,621 162.4 7,767 87 8,827.6 5,860 3,216 82.2 17,204 7,532 128.4 7,413 5,398 37.3 33 175 (81.1) 265 189 40.2 41,334 13,980 195.7 6,929 14,394 (51.9) 3,571 2,656 34.5 2,156 4,732 (54.4) 3,073 1,907 61.1 975 574 69.9 12,012 7,006 71.5 472 4,822 (90.2) 6,971 4,211 65.5 66
2008 2007 (%) 48,095 72,111 (33.3) 5,813 4,298 35.2 1,780 2,615 (31.9) 7,020 5,314 32.1 2,677 1,565 71.1 28,248 58,182 (51.4) (17,668) 6,885 (356.6) 1,779 604 194.5 32,984 76,953 (57.1) 6,276 3,514 78.6 23 16 43.8 14,637 10,838 35.1 1,931 585 230.1 26,120 289 8,938.1 227.90 114 569 (80.0) 2007 (3,326) 1,902 (274.9) 3. 67
1. 85,115 (17,493) 65,503 177 (230) 17 2. 178,539 (1,327) (25,960) 212,236 263,654 (17,493) (1,327) (25,960) 277,739 189 (175) 265 4. 1. 11,026 (535) 7,624 137 11 16 2. 6,654 9,036 3. 31,681 (2,904) (24,522) 8,611 4. 49,361 (535) (2,904) (24,522) 25,271 8,849 (180) 8,895 2008 12 31 17 68
2008 12 31 2005 9 2008 12 31 2009 4 8 69
2008 4 2008 12 31 2007 12 31 11.5% 11.5% 79,016 107,032 25,800 30,128 1999 6 (11,340) (9,058) 1999 6 66,859 61,921 (11,676) (9,585) 122,859 150,311 69,643 73,407 11.5% 11.5% 10,039 8,254 (1,498) (1,067) 8,541 7,187 70
2008 1 11.5% 1999 6 11.5% 2 20094.25% 0.25% 2014 5.5% 3 25% 18% 5.5% 4 (2000-2003)65% 65% (2000-2003) 45% 40% 5 15% 85% 6 7 2008 85% 2% 8 80% 80% 71
2008435.30 46.2% 45.6% 0.6% 20.7% 13.0% 7.7% 33.1% 33.1% 0.0% 100.0% 72
2008 12 311,228.59 2008 2007 12 31 73,407 6,107 2008 9,348 200811.5% (6,547) (13,634) (16,308) 2008 1,832 54,205 26.2% (4,940) 20,379 198.79 5.00 2008 12 31 69,643 2007 12 31 76,904 3,009 (6,068) 2008 12 31 73,845 4,891 5,985 9.9149.94 (5,142) (26,364) 198.79 5.00 9.9149.94 53,216 2008 12 31 122,859 16.7 73
2007 50 50 10% 10% 10% 5% 150% 11.0% 11.5% 12.0% 11.5% 45,751 43,843 42,026 45,440 11.0% 11.5% 12.0% 11.5% 9,046 8,541 8,071 9,348 43,843 8,541 2007 49,972 8,971 50 54,300 9,028 50 31,556 8,063 10% 44,241 8,761 10% 45,408 8,942 10% 44,773 8,701 5% 41,949 8,338 150% 37,739 7,792 11.5% 11.5% 74
2008 198.79 49.94 9.91 5 2008 814.69 2007 12 31 25.4% 2008 2008 H A 2008 12 31 2007 12 31 88.9% 83.5% 2008 2007 62,357 31,860 (116,027) (3,074) 22,021 24,066 2007318.60 2008623.57 75
200730.74 20081,160.27 2007240.66 2008220.21 2007 A 2008 2007 2007 2008 12 31 2007 12 31 33,888 46,301 18,335 13,245 50 7,620 12,216 29,130 64,489 96,296 2008 12 31 2007 12 31 88,270 121,104 28,663 24,883 % 308.0 486.7 76
77 50
50 280 6,269 10 10x99% Z (99%) 6,245 5% AA 100% 5% 411 821 78
2008 2008 46,733 8.83 8.60 0.23 2008 8.05 2008 9 10 0.7 2008 300 65.95% 42.1% 2008 9 14.9% 2008 227.90 2008 6% 20084.65 2009 1. 79
2. 2009 200820 2009 1. 2007 4.06 3.3% 924.87 19.0% 2008 9,784.10 39.1% 6,658.37 49.2% 2,336.71 17.0% 585.46 52.4%203.56 7.1% 3.34 200715.2% 2. 2008 8 59 44 6 2008 2008 2009 (%) 2,955.91 40.3 1,011.78 13.8 660.92 9.0 577.45 7.9 556.83 7.6 1,574.68 21.4 7,337.57 100.0 80
2008 (%) 1,016.56 41.6 278.17 11.4 267.51 10.9 884.01 36.1 2,446.25 100.0 2008 3. 2008 2004 H 2007 A 2008 12 8 198.79 238 2008 12 8 9.91 40 2008 9 4 49.94 69.88 2008 8 26 5 10 A 2008 81
1. 2008 1 18 A A A 2008 2008 2008 A 2. 2008 3 19 2007 < >< > <> 2007 2007 2007 2007 2008 2007 2007 2007 2007 20072007 12 312007 < > 2007 3. 2008 4 29 2008 4. 2008 5 30 2008 5. 2008 7 17 <> 6. 2008 8 15 2008 2008 6 30 20082008 7. 2008 8 28 2008 8. 2008 10 27 2008 2008 5 13 2007 2007 7,345,053,334 2007 0.50 3,672,526,667 2008 8 15 2008 7,345,053,334 2008 0.20 1,469,010,666.80 82
2008 3 5 2008 20082008 A 2008 5 9 6 A 2009 3 5 12 A 2008 2008 5 13 5 1 20085 2007 12 31 2008 6 30 2009 2008 12 31 2008 20082 04-07 2009 1 A A 2008 8.73 47.03 2008 10% 83
46.78 2008 0.20 14.69 2008 2008 2008 2009 0.20 0.20 (%) 2007 5,142 15,086 34.1 2006 3,598 7,342 49.0 2005 3,318 0.0 84
2008 3 18 20072007 2008 4 234 29 2008 2008 8 15 2008 2008 10 2110 27 2008 4/4 100% 4/4 100% 4/4 100% 4/4 100% 4/4 100% 4/4 100% 4/4 100% 4/4 100% 4/4 100% 2008 9 20072008 21 H1 5 85
2007 2 A382.22 2008 3 192008 4 2 21.550%2008 10 2 2008 4 2 86
2008 3 5 200820082010 390 3 6 (www.sse. com.cn) 87
8,621 8,021 8,021 (%) 10.2 70% 50% A389,592,366 331,117,788 139,112,886 A 36A50 2,776,586,596 A 12A345,000,000A 12 50 2008 3 1 88
20072008 2008 5,328 3,168 711 1,449 2007 2,605 2,250355 7 (%) 1 002024 265 13 233 5.2 (381) 2 600036 268 14 173 3.8 (231) 3 600895 173 17 171 3.8 (59) 4 600519 116 1 160 3.5 (177) 5 600030 161 7 128 2.8 (209) 6 HK2889 138 156 124 2.7 4 7 000002 322 19 120 2.7 (393) 8 600585 210 4 113 2.5 (175) 9 601328 162 22 105 2.3 (70) 10 600089 85 4 99 2.2 (14) 4,850 3,101 68.5 (6,057) (2,645) 6,748 4,527 100.0 (10,407) (1) (2) (3) 89
(%) 1 600016 5,546 3,825 4.99 36 (8,153) 2 000001 A 2,844 1,437 4.89 4 (1,407) 3 000538 1,394 1,394 9.36 4 BE0003801181 FORTIS 23,874 1,085 4.81 582 (22,321) 5 600000 878 792 1.06 31 (2,363) 6 HK0005 963 583 0.07 22 (392) 7 601628 56 49 0.10 3 (104) HK2628 753 526 9 (392) 8 HK0941 698 521 0.04 13 (266) 9 601857 284 181 0.04 8 (369) HK0857 490 336 11 (304) 10 000012 A 478 485 4.83 (788) (1) (2) (3) (4) (%) 1 2 9 7 0.47 4 461 45 14.86 461 90
3,882 58,270 5,478 8,213 2008-001 D005 2008 1 18 http://www.sse.com.cn/ D28A9 2008-002 D005 2008 1 18 http://www.sse.com.cn/ D28A9 2008-003 B08 2008 1 21 http://www.sse.com.cn/ A41A16 2008-004 B08 2008 1 21 http://www.sse.com.cn/ A41A16 2008-005 B08 2008 1 21 http://www.sse.com.cn/ A41A16 91
2008-006 2008 B08 A41A16 2008 1 21 http://www.sse.com.cn/ 2008-007 2007 D016 D14A8 2008 1 29 http://www.sse.com.cn/ 2008-008 2008 C12 D11C8 2008 2 5 http://www.sse.com.cn/ H 2008 2 5 http://www.sse.com.cn/ H 2008 2 14 http://www.sse.com.cn/ H 2008 2 14 http://www.sse.com.cn/ 2008-009 B08 D12A12 2008 2 15 http://www.sse.com.cn/ 2008-010 D005 D8C24 2008 2 28 http://www.sse.com.cn/ 2008-011 2008 D004 D30C21 2008 3 6 http://www.sse.com.cn/ H 2008 3 8 http://www.sse.com.cn/ 2008-012 D010 D48C16 2008 3 20 http://www.sse.com.cn/ 2008-013 D010 D48C16 2008 3 20 http://www.sse.com.cn/ 2008-014 D010 D48C16 2008 3 20 http://www.sse.com.cn/ 92
2008-015 D010 D48C16 2008 3 20 http://www.sse.com.cn/ 2007 2008 3 20 http://www.sse.com.cn/ 2007 D009 D46C13 2008 3 20 http://www.sse.com.cn/ 2008-016 2007 B08 D142C9 2008 3 27 http://www.sse.com.cn/ 2008-017 D005 D32C20 2008 4 3 http://www.sse.com.cn/ 2008-018 D024 D24A9 2008 4 9 http://www.sse.com.cn/ 2008-019 2007 D004 D35A5 2008 4 11 http://www.sse.com.cn/ 2008-020 D061 D89C68 2008 4 18 http://www.sse.com.cn/ H 2008 4 18 http://www.sse.com.cn/ H 2008 4 24 http://www.sse.com.cn/ 2008 D029 D75C88 2008 4 30 http://www.sse.com.cn/ 2008-021 D008 D16A8 2008 5 9 http://www.sse.com.cn/ 2008-022 2007 D012 D25C24 2008 5 14 http://www.sse.com.cn/ 2008-023 2007 B01 A17C9 2008 5 19 http://www.sse.com.cn/ 2008-024 C04 D22A3 2008 5 20 http://www.sse.com.cn/ 93
2008-025 C008 17C4 2008 5 31 http://www.sse.com.cn/ H 2008 5 31 http://www.sse.com.cn/ 2008-026 D004 D9B8 2008 6 19 http://www.sse.com.cn/ 2008-027 A12 D616 2008 7 3 http://www.sse.com.cn/ 2008-028 A09 D820 2008 7 4 http://www.sse.com.cn/ 2008-029 2008 D025 C3016 2008 7 18 http://www.sse.com.cn/ 2008-030 2008 D025 C3016 2008 7 18 http://www.sse.com.cn/ 2008-031 D025 C3016 2008 7 18 http://www.sse.com.cn/ 2008-032 C004 6545 2008 7 19 http://www.sse.com.cn/ H 2008 8 6 http://www.sse.com.cn/ 2008-033 C008 3529 2008 8 16 http://www.sse.com.cn/ 2008-034 C008 3529 2008 8 16 http://www.sse.com.cn/ 2008-035 C008 3529 2008 8 16 http://www.sse.com.cn/ 94
2008 2008 8 16 http://www.sse.com.cn/ 2008 C008 3529 2008 8 16 http://www.sse.com.cn/ 2008-036 B05 C15545 2008 8 26 http://www.sse.com.cn/ 2008-037 B04 C644 2008 8 29 http://www.sse.com.cn/ H 2008 9 9 http://www.sse.com.cn/ H 2008 9 13 http://www.sse.com.cn/ 2008-038 2008 C12 C829 2008 9 19 http://www.sse.com.cn/ 2008-039 C12 C829 2008 9 19 http://www.sse.com.cn/ H 2008 9 19 http://www.sse.com.cn/ 2008-040 B20 2432 2008 9 27 http://www.sse.com.cn/ H 2008 9 27 http://www.sse.com.cn/ 2008-041 D004 A168 2008 10 6 http://www.sse.com.cn/ H 2008 10 16 http://www.sse.com.cn/ 2008-042 2008 C009 2025 2008 10 18 http://www.sse.com.cn/ 2008-043 C009 2025 2008 10 18 http://www.sse.com.cn/ 2008-044 D008 C6020 2008 10 23 http://www.sse.com.cn/ 95
2008-045 D008 C6020 2008 10 23 http://www.sse.com.cn/ 2008-046 D037 C2564 2008 10 28 http://www.sse.com.cn/ 2008 D037 C2564 2008 10 28 http://www.sse.com.cn/ 2008-047 B04 C1224 2008 11 20 http://www.sse.com.cn/ H 2008 12 6 http://www.sse.com.cn/ 2008-048 B04 A164 2008 12 15 http://www.sse.com.cn/ 2008-049 A08 C3240 2008 12 19 http://www.sse.com.cn/ 2008 1 18 A 2008 3 5 2008 20082008 2008 5 9 6A 2008 1 212008 3 62008 5 9 (www.sse.com.cn) 96
2008 3 19 50% 2008 4 2 50% 21.51,000,0002008 10 6 2008 4 2 2008 3 202008 4 32008 10 6 (www.sse.com.cn) 238.74 2008 2008 9 30 157 2008 10 6 (www.sse.com.cn) 97
98
99
2008 12 31 2009 4 8 100
(2009) 60468101_B43 2008 (1) (2) (3) 2008 2009 4 8 101
2007 12 31 1 52,445 72,740 2 1,177 2,027 3 304 1,192 4 65,486 84,938 5 17 177 6 13,084 36,457 7 6,931 4,187 8 4,554 4,568 9 2,733 2,452 10 11,354 4,931 11 3,725 2,411 12 74,160 63,125 108 887 83,003 41,731 13 212,236 178,539 14 126,502 127,736 15 6,025 2,207 16 617 610 17 5,860 1,560 18 6,551 4,051 19 7,641 7,894 20 9,500 3,621 21 7,767 87 22 5,860 3,216 707,640 651,344 115 224 102
2007 12 31 24 3,071 3,719 25 17,204 7,532 26 7,413 5,398 27 33 175 5 265 189 28 41,334 13,980 29 80,649 72,133 30 6,929 14,394 31 2,210 2,981 1,243 1,104 32 3,571 2,656 33 2,156 4,732 34 3,073 1,907 975 574 35 6,222 5,161 36 12,012 7,006 37 6,420 5,287 38 420,064 380,947 39 3,884 3,218 21 472 4,822 40 6,971 4,211 626,171 542,126 115 224 103
2007 12 31 41 7,345 7,345 42 48,095 72,111 43 6,125 5,655 44 395 395 16,820 21,770 (23) (42) 78,757 107,234 46 2,712 1,984 81,469 109,218 707,640 651,344 102 224 115 224 104
2008 2008 2007 47 129,383 100,945 47 119 85 (5,813) (4,298) 48 (1,780) (2,615) 121,790 94,032 49 7,020 5,314 49 (2,677) (1,565) 49 4,343 3,749 50 1,980 2,814 50 (204) (502) 50 1,776 2,312 51 28,248 58,182 52 (17,668) 6,885 (465) (501) 53 1,779 604 54 139,803 165,263 (13,362) (13,333) 55 (34,592) (26,998) 2,960 2,443 56 (38,792) (77,545) 57 5,808 592 (6,276) (3,514) (23) (16) (14,637) (10,838) (2,576) (3,656) 58 (14,025) (15,524) 1,456 1,167 58 (1,931) (585) 59 (26,120) (289) (142,110) (148,096) 115 224 105
2008 2008 2007 (2,307) 17,167 114 569 (260) (253) (2,453) 17,483 60 3,326 (1,902) 873 15,581 662 15,086 211 495 873 15,581 61 0.09 2.11 61 0.09 2.11 115 224 106
2008 2008 2007 128,616 100,901 20,203 9,428 1,487 2,083 7,621 6,678 694 275 6,460 105 11,414 64 3,362 1,438 170,631 130,134 (34,684) (25,940) (674) (376) (1,472) (615) (11,255) (13,885) (8,220) (248) (17,099) (12,816) (6,994) (6,114) (4,483) (4,516) (6,807) (1,426) 64 (30,187) (18,737) (108,274) (98,274) 64 62,357 31,860 498,278 337,743 16,448 16,984 1,389 1,153 516,115 355,880 (623,213) (352,537) (6,377) (4,646) (1,314) (1,030) (739) (741) (499) (632,142) (358,954) (116,027) (3,074) 115 224 107
2008 2008 2007 133 38,222 3,848 5,101 28,780 32,761 43,323 (4,703) (1,823) (6,037) (4,601) (86) (43) (820) (12,013) (10,740) (19,257) 22,021 24,066 (158) (207) 64 (31,807) 52,645 64 96,296 43,651 64 64,489 96,296 115 224 108
2008 2008 7,345 72,111 5,655 395 21,770 (42) 1,984 109,218 662 211 873 1. (1) (47,547) (321) (47,868) (2) (10,358) (70) (10,428) 2. 25,786 174 25,960 3. 6,047 41 6,088 4. 2,056 19 14 2,089 (24,016) 662 19 49 (23,286) 1. 470 (470) 2. (5,142) (86) (5,228) 765 765 7,345 48,095 6,125 395 16,820 (23) 2,712 81,469 115 224 109
2008 2007 6,195 23,246 4,969 395 10,455 1,366 46,626 15,086 495 15,581 1. (1) 37,902 379 38,281 (2) (20,676) (207) (20,883) 2. 97 1 98 3. (3,426) (34) (3,460) 4. (2,104) (42) (20) (2,166) 11,793 15,086 (42) 614 27,451 1,150 37,072 38,222 1. 686 (686) 2. (3,085) (43) (3,128) 47 47 7,345 72,111 5,655 395 21,770 (42) 1,984 109,218 115 224 110
2007 12 31 1 7,383 40,858 2 5,623 8,176 1,700 371 75 220 289 3 17,781 4,311 4 44,234 17,868 88 85 34 24 5 527 10 58 16 76,319 73,412 6 6,400 7 345 1,325 8 114 380 175 219 7,034 1,924 7,345 7,345 50,742 52,506 6,125 5,655 395 395 4,678 5,587 69,285 71,488 76,319 73,412 115 224 111
2008 2008 2007 9 5,809 8,452 10 (762) 324 (66) (4) 1 2 4,982 8,774 (36) (142) 11 180 (1,414) 12 (409) (265) (1,556) 4,717 7,218 (48) (2) 4,669 7,216 13 34 (354) 4,703 6,862 115 224 112
2008 2008 2007 8 339 8 339 (272) (411) (302) (247) (621) (156) (1,195) (814) (1,187) (475) 75,599 18,758 5,999 4,753 17 81,598 23,528 (116,139) (17,039) (82) (62) (14) (116,235) (17,101) (34,637) 6,427 38,222 6,400 6,400 38,222 (5,146) (3,080) (939) (5,146) (4,019) 1,254 34,203 (12) 99 (34,582) 40,254 43,702 3,448 9,120 43,702 115 224 113
2008 2008 7,345 52,506 5,655 395 5,587 71,488 4,703 4,703 1. (1) (2,471) (2,471) (2) (184) (184) 2. 409 409 3. 482 482 (1,764) 4,703 2,939 1. 470 (470) 2. (5,142) (5,142) 7,345 50,742 6,125 395 4,678 69,285 2007 6,195 15,731 4,969 395 2,496 29,786 6,862 6,862 1. (1) 438 438 (2) (782) (782) 2. 47 47 (297) 6,862 6,565 1,150 37,072 38,222 1. 686 (686) 2. (3,085) (3,085) 7,345 52,506 5,655 395 5,587 71,488 115 224 114
1988 3 21 1992 1994 71997 1 2002 4 2 2002 32 2002 10 282002 98 2002 350 2002 351 2003 1 24 2002 12 242002 12 17 H 2003 228 2004 18H 1,261,720,000H 2004 6 24 [2007]29 A 1,150,000,000A 2007 3 1 2006 2 38 2008 12 312008 115
1. 1 1 12 31 2. 3. 4. 116
5. 2008 6. 117
6. 7. 8. 118
9. 10. (1) 11 (2) 11. 119
11. 12. 120
13. 14. 15. 121
15. 2 122
16. 17. 18. 19. 20 22 123
20. 30-35 5% 2.71%-3.16% 5 5% 19% 5-8 5% 11.88%-19% 21. 22. 20-30 50-70 3-5 124
23. 24. 25. 2004 16 1% 0.15% 0.05% 1% 6% 125
26. 27. 28. Bornhuetter-Ferguson 29. 1999 90 2003 67 2007 335 2007 119 2005 118 (1) 126
29. (2) 7.5% (3) (2000-2003) (4) (5) 5% (6) 5% (7) 127
30. 1999 90 1999 90 31. 32. 33. 128
34. 35. 36. 37. 1 129
38. Black-Scholes 39. 40. 130
41. 42. 2009 1 522009 1 2009 43. (1) (2) 131
43. (1) Bornhuetter-Ferguson 132
43. (2) (3) 15 (4) (5) 5,700 44. 1999 90 7.5% 7.5%2007 12 31 6% 6.5% 2008 6 30 6 6%38.11 2008 2008 2007 12 31 2008 12 31 2007 12 316% 6.5% 2007 12 31 133
5% 1994 2 1998 95 1999 181 1998 746 2000 59 2001 118 2002 94 2002 156 2004 71 2005 21 2005 76 2006 115 2007 43 2007 117 2007 158 2008 88 2008 166 2007 3 162008 1 1 25% 25%2008 18% 20092010 2011201220% 22% 24% 25% 2008 1 1 33% 25% 2008 4 12009 3 3117.5% 16.5% 134
(1) 2008 360% 750 181 181 2,659 1,920 147 147 2,987 2,248 185 1,582 1,582 1,767 1,582 1,220 666 (488) 732 732 (732) 181 (551) 2007 220 2008 (331) 267 44 115 135
(2) 2008 360% 504 166 166 1,913 1,303 20 20 2,099 1,489 857 857 152 221 221 1,230 1,078 869 411 (348) 521 521 (521) 166 (355) 2007 157 2008 (198) 257 75 (61) 136
(3) 2008 11 100% 39 1 1 19 19 144 60 164 80 21 52 52 73 52 91 28 91 91 1 (91) (90) 137
(4) 2008 12 31 1 71093073-9 99.33% 99.33% 23,800,000,000 23,800,000,000 2 71093072-0 99.08% 99.08% 3,000,000,000 4,000,000,000 19236558-0 90.04% 90.04% 5,460,940,138 5,460,940,138 3 10002000-9 99.88% 99.88% 6,988,000,000 6,988,000,000 100323453 86.66% 86.66% 1,800,000,000 1,800,000,000 4 77021249-9 98.50% 1.49% 99.99% 1,000,000,000 1,000,000,000 71093344-6 96.00% 3.97% 99.97% 500,000,000 500,000,000 71093349-7 95.00% 4.97% 99.97% 500,000,000 500,000,000 100.00% 100.00% 4,000,000,000 555,000,000 75.00% 75.00% 110,000,000 110,000,000 5 10002318-8 89.47% 89.47% 120,000,000 120,000,000 6 19221023-9 99.88% 99.88% 4,000,000,000 4,000,000,000 7 19230555-3 99.88% 99.88% 20,000,000 20,000,000 77270613-4 99.88% 99.88% 800,000,000 800,000,000 77985608-X 99.88% 99.88% 3,000,000 3,000,000 138
(4) 100.0% 100.00% 80,000,000 65,000,000 79028553-X 79.90% 79.90% 38,500,000 38,500,000 78735955-0 79.90% 79.90% 500,000 500,000 77076569-1 50.94% 50.94% 9,700,000 9,700,000 79974132-7 50.94% 50.94% 100,000,000 55,000,000 73207232-5 98.88% 98.88% 20,000,000 20,000,000 100.00% 100.00% 50,000 2 100.00% 100.00% 36,000,001 36,000,001 100.00% 100.00% 50,000 1 100.00% 100.00% 10,000 10 739490888 100.00% 100.00% 77,800,000 77,800,000 8 73190971-X 59.60% 59.60% 750,000,000 750,000,000 8 780101033-2 59.60% 59.60% 504,000,000 504,000,000 66690678-1 69.92% 69.92% 140,000,000 140,000,000 66910233-2 69.92% 69.92% 130,000,000 130,000,000 8 10129520-7 69.92% 69.92% 39,399,030 39,399,030 9 67299862-7 99.88% 99.88% 10,000,000 10,000,000 139
(4) 9 68037400-5 99.88% 99.88% 300,000,000 300,000,000 9 71093529-X 66.92% 66.92% 50,000,000 50,000,000 9 68039626-3 86.66% 86.66% 300,000,000 300,000,000 9 67297503-8 100.00% 100.00% 30,000,000 6,000,000 IT 9 67297264-6 100.00% 100.00% 30,000,000 6,000,000 9 67483282-3 99.88% 99.88% 3,000,000 3,000,000 10 86.66% 86.66% 1,000 1,000 1 238 2 40 2008 12 31 3 69.88 4 10 5 6 40 7 8 (1)-(3) 9 10 2008 140
2008 102,369 27,014 129,383 (980) (4,833) (5,813) (73) (1,707) (1,780) 101,316 20,474 121,790 3,814 529 4,343 (529) 529 206 1,229 374 (33) 1,776 7 26 (33) 24,023 1,976 32 370 918 1,458 (529) 28,248 416 9 (12) 98 18 (529) (16,114) (20) (196) (130) (762) (446) (17,668) (374) (40) 18 (4) (66) 1 (465) 1,069 110 19 6 1 1,251 (677) 1,779 284 4 389 (677) 109,920 22,500 3,893 1,471 91 2,638 (710) 139,803 141
2008 (13,362) (13,362) (19,723) (14,869) (34,592) 781 2,179 2,960 (37,125) (1,667) (38,792) 5,063 745 5,808 (6,276) (6,276) (23) (23) (11,811) (3,029) 203 (14,637) (4) (199) 203 (498) (1,538) (273) (82) (36) (149) (2,576) (6,901) (4,660) (1,828) (688) 180 (613) 485 (14,025) (326) (35) (12) (6) (86) (20) 485 171 1,285 1,456 (1,037) (47) (16) (853) 22 (1,931) (14) (7) (1) 22 (25,113) (286) (269) (9) (409) (34) (26,120) (115,831) (21,910) (2,386) (779) (265) (1,649) 710 (142,110) (5,911) 590 1,507 692 (174) 989 (2,307) 36 20 31 3 24 114 (25) (15) (161) (9) (48) (2) (260) (5,900) 595 1,377 686 (222) 1,011 (2,453) 3,766 (187) 67 (136) 34 (218) 3,326 (2,134) 408 1,444 550 (188) 793 873 2,270 2,061 529 180 84 397 5,521 685 200 119 23 39 227 1,293 6 (52) 196 10 160 476,519 40,854 146,072 13,730 31,909 19,368 (20,812) 707,640 450,013 34,795 137,283 9,885 7,034 7,909 (20,748) 626,171 142
2007 79,279 21,666 100,945 (710) (3,588) (4,298) (332) (2,283) (2,615) 78,237 15,795 94,032 3,478 271 3,749 (271) 271 112 1,998 437 (235) 2,312 117 118 (235) 49,595 2,575 65 1,111 4,126 981 (271) 58,182 110 16 (107) 243 9 (271) 6,395 (45) (60) 146 324 125 6,885 (510) (10) 35 (4) (4) (8) (501) 465 33 7 15 2 420 (338) 604 199 139 (338) 134,182 18,348 3,637 3,266 4,448 1,955 (573) 165,263 143
2007 (13,333) (13,333) (16,083) (10,915) (26,998) 530 1,913 2,443 (76,306) (1,239) (77,545) 2 590 592 (3,514) (3,514) (16) (16) (9,004) (1,987) 153 (10,838) (153) 153 (1,808) (1,278) (179) (160) (142) (89) (3,656) (7,109) (4,093) (1,490) (1,213) (1,414) (507) 302 (15,524) (256) (19) (2) (23) (2) 302 175 992 1,167 (302) (16) (1) (297) 31 (585) (31) 31 6 (51) (164) (3) (77) (289) (126,746) (16,100) (1,834) (1,376) (1,556) (970) 486 (148,096) 7,436 2,248 1,803 1,890 2,892 985 (87) 17,167 101 10 449 1 8 569 (102) (47) (99) (3) (2) (253) 7,435 2,211 2,153 1,888 2,890 993 (87) 17,483 396 (727) (616) (396) (354) (205) (1,902) 7,831 1,484 1,537 1,492 2,536 788 (87) 15,581 3,678 260 230 80 64 581 4,893 483 159 81 26 24 94 867 (6) 51 164 3 77 289 2007 12 31 420,566 31,331 141,976 23,516 55,368 21,155 (42,568) 651,344 390,247 25,733 135,351 19,786 1,924 11,566 (42,481) 542,126 144
1. 2007 12 31 574 382 29,040 51,701 5,782 12,845 12,829 14,265 7,274 4,969 2,266 884 462 539 52,445 72,740 13.5% 2007 12 3114.5% 5% 2007 12 315% 2008 12 31142007 12 31 14 8392007 12 31 2,042 2. 2007 12 31 51 668 1,126 1,359 1,177 2,027 145
3. 2007 12 31 3 591 310 646 313 1,237 (9) (45) 304 1,192 4. 2007 12 31 4,573 1,330 8,629 15,295 9,773 3,151 6,689 9,772 31,445 39,825 4,377 15,565 65,486 84,938 15,714 23,957 49,772 60,981 65,486 84,938 2008 12 3132,4182007 12 31 1,824 146
5. 18 1 223 15 215 1 194 1 54 5 137 10 547 249 424 17 964 265 2007 12 31 3,187 4 1,001 18 315 10 419 10 65 159 606 99 365 4 584 62 3,932 177 2,610 189 6. 2007 12 31 9,169 27,173 3,915 7,959 1,325 13,084 36,457 13,084 36,457 147
7. 2007 12 31 1,764 757 296 232 4,919 3,223 1 24 6,980 4,236 (49) (49) 6,931 4,187 1492007 12 31 8. 2007 12 31 2,836 2,760 1,718 1,808 4,554 4,568 5% 2007 12 31 33 4,201 4,397 3 1 1 240 168 1 113 3 4,554 4,568 128 2.7% (15) 11.7% 4,587 97.3% (146) 3.2% 4,715 100.0% (161) 3.4% 148
8. 2007 12 31 4,736 99.8% (179) 3.8% 11 0.2% 4,747 100.0% (179) 3.8% 2007 12 31 152 39 3.3% 0.9% 0-3.5 0.67-2.33 9. 2007 12 31 99 2,591 2,359 9 142 93 2,733 2,452 5% 2,090 76.0% (4) 0.2% 660 24.0% (13) 2.0% 2,750 100.0% (17) 0.6% 2007 12 31 1,878 75.1% (34) 1.8% 623 24.9% (15) 2.4% 2,501 100.0% (49) 2.0% 149
9. 2007 12 31 1,004 716 467 303 Allianz SE Reinsurance 245 91 Aon Limited 182 310 Munich Reinsurance Co. 132 163 2,030 1,583 74.3% 64.6% 0-5 0-6.17 10. 2007 12 31 3,230 2,615 3,238 2,304 1,443 6 3,443 6 11,354 4,931 2008472008 12 31 4,871 2008 11. 65.85%-9.00% 2007 12 315.22% 6.50% 150
12. (1) 2007 12 31 2,592 389 18,000 16,259 3,874 3,340 46,635 37,696 3,784 5,977 74,885 63,661 (215) (289) (510) (247) 74,160 63,125 2008 12 312202007 12 31 (2) 2007 12 31 156 0.21% 96 0.15% 419 0.56% 175 0.27% 10,278 13.73% 13,055 20.51% 3,807 5.08% 2,137 3.36% 5,759 7.69% 4,009 6.30% 8,926 11.93% 6,440 10.12% 5,589 7.46% 6,173 9.70% 3,964 5.29% 3,332 5.23% 24,466 32.67% 19,988 31.40% 11,521 15.38% 8,256 12.96% 74,885 100.00% 63,661 100.00% 151
12. (3) 2007 12 31 52,603 70.25% 50,427 79.21% 22,009 29.39% 12,889 20.25% 273 0.36% 345 0.54% 74,885 100.00% 63,661 100.00% (4) 2007 12 31 19,563 14,284 16,978 12,972 30,053 25,273 8,291 11,132 74,885 63,661 (5) 3 3 1 1 3 3 296 56 17 88 457 56 200 19 9 284 1,067 240 60 22 1,389 96 241 8 345 1,515 737 104 119 2,475 2007 12 31 3 3 1 1 3 3 88 8 9 99 204 46 3 130 11 190 895 102 57 26 1,080 72 200 56 328 1,101 313 252 136 1,802 152
12. (6) 2007 12 31 70,900 94.68% 59,186 92.97% 3,477 4.64% 3,863 6.07% 74,377 99.32% 63,049 99.04% 184 0.25% 299 0.47% 187 0.25% 172 0.27% 137 0.18% 141 0.22% 508 0.68% 612 0.96% 74,885 100.00% 63,661 100.00% (7) 2008 2007 289 247 536 2,250 181 2,431 8 263 271 28 108 136 (1,735) (42) (1,777) (20) (20) (10) (10) (24) (24) (52) (52) (230) (230) 215 510 725 289 247 536 153
13. 2007 12 31 18,124 10,427 18,401 9,257 63,905 30,541 80,114 33,186 11,312 9,481 20,380 85,647 212,236 178,539 45,881 100,704 166,355 77,835 212,236 178,539 2008 12 316,9452007 12 31 8,830 14. 2007 12 31 75,542 77,707 440 440 36,800 36,367 13,720 13,222 126,502 127,736 31,655 35,149 94,847 92,587 126,502 127,736 135,621 122,378 2008 12 311,8302007 12 31 1,814 154
15. 2008 176 169 16 185 557 541 (46) 495 113 105 (19) 86 1,026 308 718 76 1,102 618 618 (50) 568 2,432 2,432 2,432 452 452 21 473 39 39 (39) 100 100 100 27 27 27 1 220 220 (220) 1 157 157 (157) 86 86 (86) 461 461 461 39 78 (39) 39 57 50 7 57 6,560 2,207 4,361 (541) (2) 6,025 155
15. 2007 176 176 (7) 169 557 557 (16) 541 113 113 (8) 105 618 618 618 39 39 39 113 (113) 92 (92) 220 220 220 308 308 308 157 157 157 50 34 20 (4) 50 2,238 415 2,032 (209) (31) 2,207 156
15. 95,000,000 91,875,208 24% 250,000,000 151,195,839 49% 32,124,448 32,124,448 45% 2 2,600,190,000 2,600,190,000 30% 110,000,000 110,000,000 49% 3 16,000,000,000 6,176,000,000 39.375% 10,000 10,000 30% 75,000,000 75,000,000 20% 300,000,000 90,000,000 30% 100,000,000 100,000,000 50% 12007 12 3118% 2008 60%2008 12 31 (1) (2) 2 2007 12 319% 2008 30% 3 1 157
16. 2008 313 15 328 137 137 66 66 94 (46) 48 38 38 610 53 (46) 617 610 53 (46) 617 2007 313 313 13 (13) 83 54 137 66 66 94 94 409 214 (13) 610 409 214 (13) 610 5 158
17. 2007 12 31 4,760 760 800 600 200 100 100 100 5,860 1,560 20% 18. 2008 4,506 205 4,711 1,704 1,704 1,367 1,367 (135) (135) (4) (4) (299) (299) 7,143 201 7,344 593 36 629 169 4 173 (26) (26) (1) (1) (8) (8) 728 39 767 31 31 (5) (5) 26 26 6,389 162 6,551 3,882 169 4,051 8,478 162 8,640 5,846 169 6,015 159
18. 2007 1,918 154 2,072 2,046 2,046 454 454 126 126 51 51 (38) (38) 4,506 205 4,711 339 22 361 91 91 119 8 127 55 55 6 6 (11) (11) 593 36 629 51 51 21 21 (41) (41) 31 31 3,882 169 4,051 1,528 132 1,660 2008 12 31 3672007299 720072 1,9702007 12 31 2,041 1,5602007 12 31 1,612 2008 12 312,9832007 12 31 192 160
19. 2008 4,055 2,412 491 3,472 10,430 2 17 19 108 782 122 1,777 2,789 4 32 (1,592) (1,556) 135 135 (22) (424) (47) (998) (1,491) 4,280 2,804 566 2,676 10,326 798 1,305 274 2,377 172 301 51 524 26 26 (4) (354) (41) (399) 992 1,252 284 2,528 148 11 159 5 5 (7) (7) 146 11 157 3,142 1,552 282 2,665 7,641 3,109 1,107 217 3,461 7,894 161
19. 2007 3,720 2,131 421 644 6,916 17 2 19 515 101 3,381 3,997 503 (553) (50) (126) (126) (42) (251) (33) (326) 4,055 2,412 491 3,472 10,430 695 1,263 254 2,212 4 1 5 171 260 45 476 (55) (55) (13) (222) (26) (261) 798 1,305 274 2,377 141 11 152 20 20 (13) (13) 148 11 159 3,109 1,107 217 3,461 7,894 2,884 868 167 633 4,552 5442007 12 31 1,009 2008 12 31 162
19. 2008 2,730 2,115 15 (1,276) 854 78.02% 3,200 299 292 591 18.47% 711 585 585 82.28% 441 281 281 63.72% 402 146 146 36.32% 286 134 83 (91) (126) 913 392 (36) (1,061) 208 3,461 1,794 (36) (1,367) (1,187) 2,665 2007 2,685 2,115 2,115 78.77% 1,064 333 139 (472) 87.24% 3,200 196 102 298 9.34% 286 80 54 134 46.85% 24 971 (31) (50) 914 633 3,381 (503) (50) 3,461 163
20. 2008 2,754 818 453 4,025 4,672 144 4,816 1,310 301 1,611 4 4 (3) (3) 7,426 2,276 751 10,453 104 104 193 401 100 100 263 46 142 451 1 1 (3) (3) 467 151 332 950 3 3 3 3 6,959 2,122 419 9,500 2,650 711 260 3,621 164
20. 2007 871 382 1,253 2,754 2,754 188 188 (51) (51) (2) (117) (119) 2,754 818 453 4,025 85 225 310 101 101 3 25 81 109 (6) (6) (113) (113) 104 104 193 401 3 3 3 3 2,650 711 260 3,621 783 157 940 3,8302007 12 31 1,606 1,8072007 12 31 483 2,659 1,913 165
21. 2007 12 31 7,767 87 (472) (4,822) 7,295 (4,735) 2008 (1,067) 1,367 300 (1,493) (5,981) 6,051 6,343 6,413 (25,958) 1,935 (1,053) (251) 631 (3,042) 378 (199) (4) (224) (49) 197 (4,735) 6,166 6,088 (224) 7,295 (30,296) 2007 (514) (553) (1,067) 5,928 (2,023) (42) (3,916) (5,981) 29,931 1,381 98 456 1,935 (10,032) 603 83 (308) 378 (2,894) (553) (414) (3,460) (308) (4,735) 22,933 166
22. 2007 12 31 1,075 221 108 47 1,172 627 1,126 304 259 147 821 627 56 73 262 906 764 412 439 303 6,082 3,667 (222) (451) 5,860 3,216 5% 2007 12 31 11 56 2 1 33 4 31 3 1 1 11 14 1 37 108 47 2007 12 31 1 1 2,923 1,299 12 2 120 178 23 3 120 78 3 124 72 3,287 1,627 167
22. 1,960 58.0% (83) 4.2% 1,028 30.4% (5) 0.5% 390 11.6% (3) 0.8% 3,378 100.0% (91) 2.7% 2007 12 31 1,044 61.2% (73) 7.0% 270 15.8% (5) 1.9% 391 23.0% 1,705 100.0% (78) 4.6% 2007 12 31 1,375 687 41.8% 42.2% 1 2 1 2007 12 31 175 778 87 128 262 906 (131) (368) 131 538 87200771 2008 2007 168
23. 2008 322 (81) (5) (86) 236 98 87 (14) (62) (76) 109 25,887 (1,400) (1,400) 24,487 119 (19) (19) 100 536 271 (51) (31) (82) 725 31 (5) (5) 26 159 (2) (2) 157 3 3 451 27 (6) (250) (256) 222 1,719 26,272 (152) (1,774) (1,926) 26,065 2007 586 93 (357) (357) 322 98 98 154 (35) (35) 119 2,431 136 (254) (1,777) (2,031) 536 51 21 (41) (41) 31 152 20 (13) (13) 159 3 3 529 198 (23) (253) (276) 451 3,906 566 (277) (2,476) (2,753) 1,719 1.21 23,874 22,790 169
24. 25. 2007 12 31 10,172 2,470 7,032 5,062 17,204 7,532 26. 2007 12 31 2007 12 31 6,079 3,517 491 656 490 531 285 254 68 440 7,413 5,398 1,356 1,073 3 281 6,039 4,044 15 7,413 5,398 27. 28. 2007 12 31 1,676 41,114 12,304 220 41,334 13,980 170
29. 2007 12 31 32,471 31,696 7,339 5,879 33,216 30,253 7,623 4,305 80,649 72,133 30. 2007 12 31 6,193 9,259 736 5,135 6,929 14,394 31. 5% 1 32. 2007 12 31 99 3,246 2,428 9 325 228 3,571 2,656 2007 12 31 1,056 690 339 206 Allianz SE Reinsurance 272 106 Aon Limited 194 231 Munich Reinsurance Co. 114 89 1,975 1,322 55.3% 49.8% 0-5 0-4 5% 171
33. 2008 1,378 5,587 (5,648) 1,317 2,743 (2,202) 541 271 (271) 34 756 (821) (31) 288 155 (132) 311 18 2 (2) 18 4,732 4,298 (6,874) 2,156 2007 608 5,719 (4,949) 1,378 1,109 2,127 (493) 2,743 295 (24) 271 4 849 (819) 34 117 279 (108) 288 19 (1) 18 2,133 8,993 (6,394) 4,732 34. 2007 12 31 2,274 807 309 581 490 519 3,073 1,907 35. 12 5% 1 36. 5% 1 172
37. 2007 12 31 1 1 332 230 1 6,088 5,057 6,420 5,287 38. 2008 15,696 32,161 (29,810) 18,047 34 118 (74) 78 7,602 19,706 (17,649) 9,659 43 45 (7) 81 320,359 64,895 (16,000) (12,639) (7,901) 348,714 37,213 11,371 (1,557) (785) (2,757) 43,485 380,947 128,296 (35,213) (13,424) (40,542) 420,064 2007 12,927 26,218 (23,449) 15,696 10 85 (61) 34 6,465 14,073 (12,736) (200) 7,602 15 40 (12) 43 248,574 102,424 (13,271) (13,416) (3,952) 320,359 30,694 10,807 (1,166) (674) (2,448) 37,213 298,685 153,647 (27,185) (14,090) (30,110) 380,947 173
38. 2007 12 31 1 1 1 1 1 1 14,458 3,589 12,133 3,563 33 45 6 28 7,884 1,775 6,077 1,525 64 17 34 9 10,652 338,062 13,962 306,397 1,081 42,404 763 36,450 34,172 385,892 32,975 347,972 2007 12 31 6,982 5,522 2,166 1,549 511 531 9,659 7,602 2007 12 31 392,199 (4,886) 387,313 357,822 (63) 357,759 3,632 (713) 2,919 2,853 (445) 2,408 24,233 (5,755) 18,478 20,272 (4,423) 15,849 420,064 (11,354) 408,710 380,947 (4,931) 376,016 174
39. 2007 12 31 1,560 1,612 2,324 1,606 3,884 3,218 8.97% 2010 155 155 5.35% 2016 375 386 5.35% 2016 374 385 7.43% 2018 1,547 1,606 6.97% 2022 656 686 5.94% 2024 777 3,884 3,218 18 20 40. 2007 12 31 159 126 95 86 4,832 3,870 1,506 379 129 6,971 4,211 2008 12 311020 175
41. 7,345,053,334 1 2007 12 31 0.00% 589 8.02% 0.00% 367 5.00% 860 11.71% 3,025 41.19% 860 11.71% 3,981 54.21% 3,926 53.46% 805 10.96% 2,559 34.83% 2,559 34.83% 6,485 88.29% 3,364 45.79% 7,345 100.00% 7,345 100.00% 42. 2007 12 31 (1) 51,907 51,907 (1,327) 30,847 (2) (3,918) (5,988) (3) 311 311 1,122 (4,966) 48,095 72,111 (1) AH (2) 2007 2 1 (3) (2002)039(2002)038 311 176
43. 2008 2,631 470 3,101 3,024 3,024 5,655 470 6,125 2007 1,945 686 2,631 3,024 3,024 4,969 686 5,655 10% 50% 25% 3,109 2007 12 31 2,846 44. 2,214 2007 12 31 1,456 177
45. (1) (2) 10% (3) (4) 2008 2007 2008 0.20 2007 0.20 1,469 1,469 12 31 2008 2007 0.50 3,673 46. 2007 12 31 1,048 294 55 51 505 511 875 659 154 229 315 2,712 1,984 178
47. (1) 2008 2007 129,264 100,860 119 85 129,383 100,945 (2) 2008 2007 79,104 64,310 14,827 7,263 8,438 7,706 102,369 79,279 19,377 15,241 6,185 5,277 1,452 1,148 27,014 21,666 129,383 100,945 48. 2008 2007 1,736 2,601 44 14 1,780 2,615 179
49. 2008 2007 18 90 319 163 78 221 4,839 3,200 1,471 1,015 3,023 1,720 345 465 435 335 1,331 1,305 7,020 5,314 332 192 9 131 2,031 1,228 305 14 2,677 1,565 4,343 3,749 2008 10200724 50. 2008 2007 796 1,556 511 505 387 511 286 242 1,980 2,814 92 165 112 337 204 502 1,776 2,312 180
51. 2008 2007 5,038 5,064 5,011 2,592 967 579 3,147 2,482 847 1,232 294 300 2,510 3,653 3,318 5,478 993 251 102 72 1,231 (1,538) 473 88 (1,673) 4,915 (1,984) 5,840 10,870 17,506 (2,657) 10,899 252 494 8 (294) 25 4 (524) (1,435) 28,248 58,182 181
52. 2008 2007 1,003 (348) (10,469) 4,232 (7,797) 3,078 (317) (405) 240 (17,668) 6,885 53. 2008 2007 756 12 367 299 101 100 39 3 516 190 1,779 604 54. 2008 2007 889 955 0.64% 0.58% 55. (1) 2008 2007 34,585 26,986 7 12 34,592 26,998 (2) 2008 2007 17,699 13,137 11,414 9,327 3,388 2,894 2,091 1,640 34,592 26,998 182
56. (1) 2008 2007 2,057 1,337 38 28 30,425 69,661 6,272 6,519 38,792 77,545 (2) 2008 2007 1,460 2,367 617 (1,103) (20) 73 2,057 1,337 57. 2008 2007 934 580 1,437 6 3,437 6 5,808 592 200810 183
58. 2008 2007 3,385 7,846 1,033 1,147 173 127 524 476 451 109 409 331 32 23 H2,2022007 2,127 59. 2008 2007 (81) 93 73 98 25,887 220 (118) 21 20 21 175 26,120 289 184
60. 2008 2007 2,840 1,488 (6,166) 414 (3,326) 1,902 2008 2007 (2,453) 17,483 18% 2007 15% (442) 2,622 426 712 (1,988) (1,762) (1,114) (24) (103) 354 (105) (3,326) 1,902 61. 2008 2007 662 15,086 7,345 7,153 0.09 2.11 0.09 2.11 185
62. 2004 2 5 200420081H H Black-Scholes 2007 12 31 (%) 0.7% 2.6% (%) 1.0% 1.0% (%) 49.4% 36.1% 1 1 2 5412007 12 31 2,743 63. (1) 9 186
63. (2) 2008 122007 12 2008 12 2007 12 2000 10 23 7,223 2.3277 6,585 2.7891 2001 4 30 301 1.2943 214 1.2428 2001 4 30 3,367 2.4565 3,155 3.5896 2003 9 4 2,229 1.6049 2,089 1.5746 2001 3 31 1,865 1.5998 2,124 1.6725 2001 3 31 126 2.4749 119 2.8787 2001 3 31 176 2.5310 143 4.0649 2007 9 13 2,145 0.6413 787 1.0294 2007 12 17 282 1.0457 1 1.0071 (3) 2007 12 31 742 2,101 22,532 27,644 10 496 225 10,913 9,383 35 141 34,728 39,494 210 424 34,489 38,622 29 448 34,728 39,494 187
63. (4) 0.2%2% 1.2% 1% 1.5% 1.5% (5) (6) 64. (1) 2008 2007 873 15,581 26,120 289 173 127 524 476 451 109 237 155 5 (212) 17,668 (6,885) (29,699) (59,487) 465 501 34,764 79,568 (6,166) 414 (10,751) (32,921) 27,693 34,145 62,357 31,860 188
64. (2) 2008 2007 33,888 46,301 (46,301) (34,007) 30,601 49,995 (49,995) (9,644) (31,807) 52,645 (3) (1) (3) (4) 2008 2007 756 12 408 573 (5) 2008 2007 4,300 40 13,362 13,333 (6) 2007 12 31 574 382 23,258 38,856 462 539 7,274 4,969 51 668 2,266 833 3 54 33,888 46,301 50 7,620 18,335 13,245 12,216 29,130 30,601 49,995 64,489 96,296 189
65. (1) 42,954 22,532 65,486 17 17 212,236 212,236 126,502 126,502 51,703 742 52,445 1,177 1,177 304 304 13,074 10 13,084 6,435 496 6,931 4,554 4,554 2,733 2,733 3,725 3,725 74,160 74,160 108 108 72,090 10,913 83,003 5,860 5,860 2,244 35 2,279 238,167 12,196 250,363 619,876 34,728 654,604 190
65. (1) 2007 12 31 57,294 27,644 84,938 177 177 178,539 178,539 127,736 127,736 70,639 2,101 72,740 2,027 2,027 1,192 1,192 36,457 36,457 3,962 225 4,187 4,568 4,568 2,452 2,452 2,411 2,411 63,125 63,125 887 887 32,348 9,383 41,731 1,560 1,560 979 141 1,120 222,607 11,850 234,457 586,353 39,494 625,847 191
65. (1) 265 265 3,071 3,071 17,204 17,204 7,413 7,413 33 33 41,124 210 41,334 80,649 80,649 6,929 6,929 1,243 1,243 3,571 3,571 2,156 2,156 975 975 6,222 6,222 12,012 12,012 2,656 3,764 6,420 3,884 3,884 6,567 29 6,596 195,709 4,003 199,712 195,974 4,003 199,977 192
65. (1) 2007 12 31 189 189 3,719 3,719 7,532 7,532 5,398 5,398 175 175 13,556 424 13,980 72,133 72,133 14,394 14,394 1,104 1,104 2,656 2,656 4,732 4,732 574 574 5,161 5,161 7,006 7,006 799 4,488 5,287 3,218 3,218 3,638 448 4,086 145,795 5,360 151,155 145,984 5,360 151,344 (2) (1) (2) (3) (4) 193
1. (1) (2) 38 194
1. (3) 10% 50 2008 20087.15 2004 2005 2006 2007 2008 5,955 7,171 9,317 10,700 16,056 1 5,948 7,172 10,305 10,904 2 5,397 6,953 9,805 3 5,259 6,797 4 5,186 5,186 6,797 9,805 10,904 16,056 48,748 (5,161) (6,725) (9,064) (9,880) (9,594) (40,424) 8,324 233 8,557 195
1. (3) 2004 2005 2006 2007 2008 4,181 5,266 7,219 8,875 12,812 1 4,228 5,280 7,362 9,061 2 3,833 5,129 7,104 3 3,732 5,005 4 3,675 3,675 5,005 7,104 9,061 12,812 37,657 (3,656) (4,951) (6,912) (8,341) (8,327) (32,187) 5,470 221 5,691 2004 2005 2006 2007 2008 1,571 1,767 2,039 2,316 3,233 1 1,577 1,960 1,983 2,335 2 1,582 1,935 1,990 3 1,582 1,935 4 1,582 1,582 1,935 1,990 2,335 3,233 11,075 (1,582) (1,935) (1,990) (2,291) (2,125) (9,923) 1,152 31 1,183 196
1. (3) 2004 2005 2006 2007 2008 1,053 1,156 1,616 1,790 2,265 1 1,057 1,482 1,555 1,682 2 1,086 1,538 1,461 3 1,086 1,538 4 1,086 1,086 1,538 1,461 1,682 2,265 8,032 (1,086) (1,538) (1,461) (1,651) (1,516) (7,252) 780 31 811 +5% 428 285 (285) (285) +5% 59 41 (41) (41) 2007 12 31 +5% 345 238 (238) (238) +5% 38 29 (29) (29) 197
2. (1) 2007 12 31 5% 546 546 571 588 5% (135) 221 (107) 369 5% 54 46 1,061 411 821 510 2,018 44,846 791 1,635 9 51,703 1,160 1 12 1,177 304 304 35,346 1,086 211 42,954 13,074 13,074 6,396 5 5 6,435 4,214 48 14 4,554 2,525 29 11 2,733 7,522 88 1 8,124 3,725 3,725 73,196 101 310 74,160 105 3 108 71,796 43 72,090 203,625 54 8,119 112 212,236 126,502 126,502 5,860 5,860 1,930 44 15 2,244 602,126 2,290 10,336 112 9 627,983 198
2. (1) 718 2,668 3,071 15,632 230 17,204 7,372 6 7,413 5 33 41,124 41,124 79,480 171 80,649 6,694 10 189 6,929 1,243 1,243 3,172 57 11 3,571 2,156 2,156 933 4 17 975 6,201 3 1 6,222 12,012 12,012 2,656 2,656 370,408 110 55 6 371,214 2,409 1,673 3,884 5,276 96 720 6,567 557,486 692 5,334 6 566,923 2007 12 31 68,110 81 2,050 1 5 70,639 1,999 1 22 2,027 1,123 7 19 1,192 46,405 1,321 375 83 3 57,294 36,457 36,457 3,903 8 3 3,962 4,283 37 16 4,568 2,228 20 80 2,452 1,230 148 5 2,316 2,411 2,411 61,206 243 156 63,125 881 6 887 31,151 164 32,348 146,858 228 10,369 1,904 178,539 127,736 127,736 1,560 1,560 641 39 43 1 979 538,182 2,297 13,144 1,989 8 588,492 199
2. (1) 2007 12 31 990 2,915 3,719 5,792 238 7,532 5,398 5,398 24 175 13,556 13,556 70,778 186 (4) 72,133 14,024 15 275 14,394 1,104 1,104 2,344 41 14 2,656 4,732 4,732 503 4 42 574 5,138 3 2 5,161 7,006 7,006 798 798 329,904 157 34 4 331,083 1,611 1,716 3,218 3,255 18 269 3,638 466,933 686 5,263 4 476,877 2007 12 31 6.8346 0.8819 9.6590 7.3046 0.9364 10.6669 200
2. (2) 1010 99% 99% 10 2007 12 31 6,245 14,495 1099% 6,245 201
2. (3) 2007 12 31 50 280 6,269 153 2,728 2007 12 31 50 87 87 55 55 50 156 156 116 116 50 265 265 273 273 50 (449) (449) (380) (380) 202
2. (3) 2007 12 31 33 1,400 3 1 1 799 381 12 2 250 400 23 3 14,770 250 34 4 1,900 4,170 45 5 19,670 1,900 5 2,044 2,082 31,257 23,165 72,090 32,348 33 107 1,031 2,160 3,298 3 1 1 7,695 9,308 7,168 24,171 12 2 1,645 4,101 242 5,988 23 3 20,113 17,838 3,832 41,783 34 4 4,099 3,909 294 8,302 45 5 11,563 13,804 1,943 27,310 5 73,925 114,733 3,757 192,415 7,355 15,820 1,208 24,383 126,502 180,544 20,604 327,650 203
2. (3) 2007 12 31 33 49 7,518 14,120 21,687 3 1 1 4,862 6,425 5,686 16,973 12 2 7,804 5,140 393 13,337 23 3 1,639 3,833 512 5,984 34 4 19,621 3,286 188 23,095 45 5 3,898 3,252 111 7,261 5 82,336 47,068 1,912 131,316 7,527 6,889 1,304 15,720 127,736 83,411 24,226 235,373 1 3. (1) 204
3. (1) 2007 12 31 20,103 19,234 14,109 11,243 11,268 5,137 10,633 10,859 9,798 3,230 9,298 4,131 7,813 25,045 4,154 4,505 5,476 567 70 153 32,086 22,607 124,808 106,711 2008 12 31100% 2007 12 31100%A 100% 2007 12 31 89.14%AA A 1 2007 12 31 12.(6) 205
3. (1) 2007 12 31 51,703 70,639 1,177 2,027 304 1,192 42,954 57,294 17 177 13,074 36,457 6,435 3,962 4,554 4,568 2,733 2,452 3,725 2,411 74,160 63,125 108 887 72,090 32,348 212,236 178,539 126,502 127,736 5,860 1,560 2,244 979 619,876 586,353 3 63,911 35,704 683,787 622,057 206
3. (1) 30 31-90 90 304 9 313 3,670 287 237 360 884 161 4,715 2,592 78 63 141 17 2,750 72,410 845 363 159 1,367 1,108 74,885 78,976 1,132 678 582 2,392 1,295 82,663 (414) (498) (912) 78,562 1,132 678 582 2,392 797 81,751 207
3. (1) 2007 12 31 30 31-90 90 1,192 45 1,237 3,609 508 305 146 959 179 4,747 1,861 102 81 408 591 49 2,501 61,859 769 256 78 1,103 699 63,661 68,521 1,379 642 632 2,653 972 72,146 (185) (624) (809) 68,336 1,379 642 632 2,653 348 71,337 2,1802007 12 31 1,295 1,5152007 12 31 1,057 2007 12 31 841 795 208
3. (2) 3 3-12 1 2,236 938 3,174 11,665 1,584 4,195 17,444 5,204 2,219 28 7,451 33 33 1 8 296 305 40,372 786 210 41,368 52,310 17,327 12,941 82,578 6,929 6,929 1,243 1,243 2,981 560 30 3,571 1,576 231 349 2,156 391 598 342 1,331 6,222 6,222 1,324 10,688 12,012 30 258 2,368 3,764 6,420 36 360 4,225 4,621 4,596 410 2,778 29 7,813 137,149 35,967 27,552 4,003 204,671 209
3. (2) 2007 12 31 3 3-12 1 515 3,204 3,719 7,513 23 7,536 3,685 1,724 43 5,452 74 104 178 5 101 82 188 13,595 424 14,019 50,662 15,275 7,666 73,603 14,394 14,394 1,104 1,104 2,204 452 2,656 2,028 1,634 1,070 4,732 225 248 101 574 643 4,518 5,161 7,006 7,006 799 4,488 5,287 155 4,115 4,270 968 2,091 579 448 4,086 104,621 29,529 14,455 5,360 153,965 210
3. (2) * 38,874 12,829 742 52,445 1,177 1,177 3 301 304 42,954 22,532 65,486 17 17 13,074 10 13,084 6,435 496 6,931 4,195 359 4,554 2,733 2,733 4,888 6,466 11,354 3,725 3,725 39,898 34,262 74,160 108 108 3,056 69,034 10,913 83,003 10,576 201,660 212,236 8,126 118,376 126,502 6,025 6,025 617 617 5,860 5,860 6,551 6,551 7,641 7,641 9,500 9,500 7,767 7,767 4,577 1,248 35 5,860 184,416 488,496 34,728 707,640 * 12 211
3. (2) 2007 12 31 * 56,374 14,265 2,101 72,740 2,027 2,027 891 301 1,192 57,294 27,644 84,938 174 3 177 36,457 36,457 3,962 225 4,187 4,388 180 4,568 2,452 2,452 3,157 1,774 4,931 2,411 2,411 34,024 29,101 63,125 887 887 10,988 21,360 9,383 41,731 13,977 164,562 178,539 5,112 122,624 127,736 2,207 2,207 610 610 1,560 1,560 4,051 4,051 7,894 7,894 3,621 3,621 87 87 2,275 800 141 3,216 236,850 375,000 39,494 651,344 * 12 4. 5. 212
6. 2008 12 31 2007 12 31 88,270 28,663 308.0% 121,104 24,883 486.7% 33,752 18,371 183.7% 45,218 15,704 287.9% 5,047 3,293 153.3% 4,895 2,695 181.6% 2007 12 31 8,381 3,183 6,238 2,739 8,510 6,366 6,209 5,477 79,573 68,466 10.5% 9.1% 10.7% 9.1% 8%4% 213
1. (1) (i) (ii) (iii) (iv) (v) (2) 15 (3) 2005 819.90% 2008 12 3116% (4) 5% (%) 618,886,334 H 8.43% 613,929,279 H 8.36% 546,672,967 A 7.44% 720,710,154 A 9.81% 380,000,000 A 5.17% (5) 2007 3 1 214
2. (1) 2008 2007 1 13 61 76 2 1.6% 2007 2.4% 2008 2007 1 45 14 71 (2) 2007 12 31 32 153 38 93 1,292 395 4,315 3,000 18 1,760 1,422 2,347 (3) 2008 2007 68 286 2008 62 215
2. (4) 2008 2007 93 254 6 4 4,891 4,326 7 8 22 4 3 4 21 18 35 20 (5) 2007 12 31 1,017 34,332 23 233 25 1 14 2 216
2. (6) 2007 12 31 2,800 890 2,221 2,856 3,000 8,021 3,746 2007 12 31 43,765 43,520 12,402 4,983 1,233 1,654 6,974 1,317 64,374 51,474 1. 2. 2008 3200420052006 217
1. 2007 12 31 7,052 7,992 529 1,784 6,523 6,208 3,868 1,688 456 8,740 8,448 2008 6 160 13.913% 6339.375% 2008 12 31 2,432 3,868 2. 2007 12 31 1 1 902 420 12 2 695 328 23 3 467 202 3 926 210 2,990 1,160 3. 2007 12 31 1 19,026 11,537 1 1,773 3,274 20,741 3,866 41,540 18,677 592 621 9,773 7,953 12,006 8,453 22,371 17,027 63,911 35,704 218
2008 2007 662 15,086 77 (397) (44) 113 82 19 88 827 14,859 (14) (2) 813 14,857 2008 43 1 1. 2009 4 8 2008 45 2. 2009 1 6 100% 960 219
1. 2007 12 31 7,360 40,625 23 233 7,383 40,858 2. 2007 12 31 1,100 982 1,953 99 1,004 795 2,086 2,611 27 36 3,106 5,623 8,176 2008 12 316,4002007 12 31 3. 2007 12 31 1,311 1,661 8,487 400 1,176 379 1,498 206 3,153 760 2,156 905 17,781 4,311 220
4. 2007 12 31 23,641 3,762 3,964 2,973 9,191 4,195 4,937 4,937 561 561 985 485 475 475 480 480 44,234 17,868 5. 2008 (137) 138 1 5 (58) 57 482 481 2,189 205 (160) 45 214 10 35 482 527 2,408 2007 (67) (70) (137) (757) (105) 47 (58) (323) 79 126 205 1,078 (93) 56 47 10 (2) 6. 221
7. 2008 147 177 (235) 89 1,084 (870) 214 30 (30) 8 16 24 56 (31) (7) 18 1,325 (708) (272) 345 2007 32 302 (187) 147 508 772 (196) 1,084 37 (7) 30 7 1 8 9 55 (8) 56 586 1,136 (397) 1,325 8. 2007 12 31 1 247 11 32 102 101 114 380 222
9. 2008 2007 493 92 341 96 20 11 249 344 27 3 908 128 75 235 4,891 4,326 37 21 22 13 730 (51) 25 (343) 122 9 (9) (203) 660 (1,383) 2,504 1 (14) (119) 5,809 8,452 223
10. 2008 2007 169 (132) 33 (39) (964) 485 10 (762) 324 11. 2008 2007 (693) 1,074 (15) 62 23 15 14 7 12. 13. 2008 2007 1 410 (35) (56) (34) 354 2008 2007 4,669 7,216 18% 2007 15% 840 1,082 (1) (14) 8 1 (881) (715) (34) 354 2009 4 8 224
1. 2008 2007 662 15,086 (i) (199) 113 (ii) (9,658) (4,988) (iii) 9,294 9,373 (iv) 130 (883) 39 (13) 268 18,688 2007 12 31 78,757 107,234 (i) 199 (ii) (44,920) (35,262) (iii) 50,599 41,305 (iv) (1,417) (1,547) (68) (107) 82,951 111,822 (i) 2008 7 11/365 50% 1/21/365 2008 7 1 1/365 (ii) 4 (iii) 4 (iv) 12 225
2. 2008 2007 2008 2007 0.84% 14.08% 0.71% 16.88% 1.03% 13.86% 0.87% 16.63% 2008 2007 2008 2007 0.09 2.11 0.09 2.11 0.11 2.08 0.11 2.08 226
2008 (2009) 60468101_B14 2008 2008 2009 4 8 2008 2008 2008 2008 2008 2009 4 8 227
2008 2008 2008 2008 2008 2008 2009 4 8 228
(2009) 60468101_B13 2008 12 31 2008 12 31 2008 2009 4 8 229
1 1 2009 4 82009 20 2004 6 24H 2007 3 1A 1 230
231 2008 2008 2007 1
+1 2008 2 400 232
233
2008 2008 ToC (Test of Compliance) 2008 2008 2008 5 2008 1. 2008 1 2. 234
235 2008 2 3. 2008 IT 2008 2008 3 2008 4 2008 5 2008 6
236 2008 A+H PPC / A+H
237 2008 A 4H 42 A 63 H H 98 3 1.
2. 3. / / 2008 1. 2008 2. 1,223 1,943 464 4141,433 563 3,627 295 613 PE 238
3. 767 275 IT 18 215277 8,886A 4. 1. 2008 241 3 279 2. 2008 100% 2007 2008 2008 12 312007 5,278 99% 20086,221 70% 2008 2008 12 31 1524,360 392 1. 2. 239
3. 4. 1. 2. 2008 A 1 3. 2008 2008 4. 2008 5 HR CWSAMIS 240
241 IT 2009 1. 2.
1. 2. 3. 2009 +1 1. 2. 1. 2. Basel II (1) Basel II (2) (Value-at-risk) (3) (4) 2009 4 8 242
243 1 2008 2008 2008 (SAS)
244 2008 ISO (H001) 1.0
2008 95511 9551224 2008 95511 95512 DES 95511 95512 100% 2008 IT 2008 245
246 IT 2008 2008 1. 2. 3. EOA 2008 2008
1. 2. (SOP) 3. (PTS) (ICSS) MIS HR 1. 2. 13 KPI PAS 4. 247
2 53 22 2008 40 248
249 2008 27 22 13 (BCP)BCP (DCFC) 47 46 97.87% ITIT IT IT IT 60
3 (1) SAA (ALCO) SAA (2) (3) TAA SAATAASAA SAA TAA SAA (4) / (5) 250
251 (1) (2) (3) (1) (2) (3) (1) (2) (3)
252 30 30 24 CI
(1) (2) (3) (4) (1) (2) (3) (4) 253
(1) (2) (3) (1) (2) (3) (4) 254
PE (1) 2008 2008 (2) (3) 2008 (4) (5) (1) (2) (3) 255
(4) (5) PE PE 2008 (1) PE (2) (3) (4) 2008 (1) (2) PE (3) (4) 256
257 4 2008 2008 2008 AH 2008 (MMS) MMS (PAMS) IT ITITIT
Oracle 2008 2008 NBEV NBEV Oracle Financial System 2008 OF FAS 2008 IT OF/FAS OFIT 258
259 95% 2008 2008 2008 CMS CMS 2008CMS PAFA3 CMS 2008 CMS CMS 2008 / 50% 30% / 2008 2008
260 5 2008 2008 2009 2009 2009 2008
261 2008 PS 360 2008 HR 2008 HR HR Peoplesoft 2009 9 2008
Peoplesoft / 30 HR 262
6 2008 3 2006 CMMI(Capability Maturity Model Integration) 2 2008 CMMIL3 / 90% 2004 ITIL Information Technology Infrastructure Library IT IT IT IT IT IT IT ITIL 7 x 24 ISO9001 7 x 24 263
2004 ISO9000 IT 2008 ISO20000 IT 2008 3 2008 20 2008 15 ISO27001 2004 IT(DRP) 5 2008 DRPDRP BIA Business Impact Analysis 11 DRP BCP DRP PA18 PA18 264