2006 1
2006 1
2003 7 11
[2003]86 2003 9 5
2006 3 5 2005
12 31
2006 1
1
[1998]16 1998 4 9
A
33 B 8
1998 4 9
13800
100
010 88066688
010 88066566
35.725
35.725
25
3.55
100
1
2006 1
2
3
2006 1
3
2
1999
3
4
1
1
2006 1
4
1912 2 5
1998 24
010-66594977
010-66594942
27 11,910 11,307 603
1912 1949 37
1949 1994 1994 1995
2006 1
5
2000 2001 10 2002 7
2004 7 14 2008
2003 2004 8 26
9 16 500 250 300 2004 2004 MasterCard 2004 2004 2004 Visa 2004
IPO
2006 1
6
2004 578 209 2003 2004 2003 21.3%
2005 11 300 180
37
2004 8 2003 3
1996 10 1989 10 1996 10 1958 8 1981 1996
2004 8 2002 9
2004 8 1994 7 2002 9 1988 1994 7 1952 5 1977 1999
2004 8 2000
11 1993 12 2000 11 1987 12 1993 12 1955 4 1978
2006 1
7
2005 10 2005 5 2005 10 2004 4 2005 5 2002 7 2004
4 1999 6 2002 7 1997 9 1999 6 1995 11 1997 9 1991 5 1995 11 1987 10 1991 5 1978 2 1987 10 1955
5 1978
1
A
33 B 8
010 88066688
010 88066508
2
1
1
95566
010 66594946
2
25
2006 1
8
95533
010 67598409
3
18
188
021 58781234
021 58408842
4
4
4
95568
010 58560794
5
618
135
021 62580818
021 62583439
6
66 4
188
400-8888-108
010 65182261
2006 1
9
7
5047 10 24 25
5047 10 24 25
0755 82493561
0755 82492062
8
218
98
021 53594566-6507
021 53858549
9
1030
6
010 84864818-63266
010 84865560
10
26 2611
183 36 38 41 42
020 87555888
020 87557985
11
99
2006 1
10
166 19
021 68419974
021 68419867
12
35 C
35 C
010 66568613 66568587
010 66568536
13
8
130 5F
027 65799560
027 85481532
14
171
171
021 54033888
021 54030294
15
2 A 22-25
2 A 22-25
2006 1
11
023 63786187 63786240
023 63786312
16
19 B 10-16
19 B 10
010 68431166
010 88018657
17
298
26
0512 65581136
0512 65588021
18
69
69
020 87320991
020 87325036
19
90
90
025 84457777-882 721
025 84579879
2006 1
12
20
1012 16-26
1012 21
0755 82133066
0755 82133302
21
180 5
180 5
0531 5689690
0531 5689900
22
28
28
0532 5023457
0532 5022025
23
39-45
A 40
0755 82943511
0755 82943237
400-8888-111 0755 26951111
2006 1
13
24
69
69
0351 8686766 8686708
0351 8686709
25
720 20
756
021 58550028
021 50366868
26
123
123
020 83270846
020 83270505
27
8
8
025 83364032
025 83364032
28
6008 14
2006 1
14
6008 14 16 17
0755 83516094
0755 83516199
29
63 12
139 5
021 68865020
021 68865938
30
2 3
2 3
010 64482828-390
010 64482090
31
8
8 7
0510 2831662
0510 2831589
32
528 15-16
528 2004
2006 1
15
021 68816000
021 68817271
33
138 1
1138
0431 96688-99 0431 5096733
0431 5680032
34
36 4
4001 17
0755 83025695
0755 83025625
35
239
4001 18
0755 83025430
0755 83025991
36
128
128
0531 2024184
0531 2024197
2006 1
16
A
33 B 8
010 88066688
010 88066566
35 C 11
010 88092188
010 88092150
568
333 12
Kent Watson
021 63863388
021 63863300
2006 1
17
1
1
2
3
4
2006 1
18
2
1 20 8
2 P/E P/E /G
3
1
2
3
4
5
2006 1
19
2005 1 16
2005 12 31
1,653,197,380.40
73.66%
515,089,001.27
22.95%
60,133,186.83
2.68%
16,057,928.91
0.72%
2,244,477,497.41
100.00%
A
-
-
B
74,035,927.24 3.37%
C
757,663,690.76 34.51%
C0
321,933,935.78 14.66%
C1
1,153,920.95 0.05%
C2
2,594,927.34 0.12%
C3
-
-
C4
79,863,983.46 3.64%
C5
-
-
C6
46,191,383.78 2.10%
C7
186,103,961.02 8.48%
C8
119,821,578.43 5.46%
C99
-
-
D
88,567,321.48 4.03%
E
24,856,855.20 1.13%
F
187,352,343.05 8.53%
2006 1
20
G
117,612,135.04 5.36%
H
231,767,722.98 10.56%
I
-
-
J
19,328,757.67 0.88%
K
31,843,712.60 1.45%
L
-
-
M
120,168,914.38 5.47%
1,653,197,380.40 75.29%
1 600694
5,626,879
97,007,393.96 4.42%
2 600519
1,907,300
87,011,026.00 3.96%
3 000063 G
3,033,149
84,260,879.22 3.84%
4 000538
3,817,911
79,030,757.70 3.60%
5 000869
3,383,108
75,883,112.44 3.46%
6 600415
2,317,850
74,055,307.50 3.37%
7 600887
4,984,872
73,477,013.28 3.35%
8 600900 G
10,479,134
72,515,607.28 3.30%
9 600583
2,585,767
66,505,927.24 3.03%
10 000895
4,506,296
57,635,525.84 2.62%
1
412,608,746.87 18.79%
2
92,950,000.00 4.23%
3
- -
4
- -
5
9,530,254.40 0.43%
515,089,001.27 23.46%
1 20
197,588,160.00 9.00%
2 04
53,386,786.40 2.43%
3 01 11
52,950,000.00 2.41%
4 05 08
49,975,000.00 2.28%
5 21
39,234,094.20 1.79%
1
2
3
1,100,099.63
2006 1
21
471,146.44
9,313,704.56
5,172,978.28
16,057,928.91
4
110001
3,436,049.20 0.16%
110219
2,798,720.10 0.13%
110010
2,028,600.00 0.09%
110036
1,266,885.10 0.06%
2003 9 5
2003 12 31
8.24% 0.47% 0.64% 0.00% 7.60% 0.47%
2004 1 1 2004 12 31
0.52% 0.91% 2.04% 0.00% -1.52% 0.91%
2005 1 1 2005 12 31 5.43% 0.92% 2.25% 0.00% 3.18% 0.92%
/
2003 2004 2005
0.0198 0.099
1
1
2
3
2006 1
22
4
5
6
2
1
1.5%
H E 1.5%
H
E
5
2.5% 3
2
0.25%
H E 0.25%
H
E
5
3
3
1 3 6
2006 1
23
3
4
1
1
2
100 1.5%
100 100 500 1.2%
500 500 1.0
3
1 1.8%
1 2 1.5%
2 3 1.2%
3 4 1.0%
4 8 0.5%
8 0
4
5
×
= -
/T
= /T
2006 1
24
T 1.200 1,000 100 500
1 2 3
A 1,000 1,000,000 5,000,000
B 1.5% 1.2% 1.0%
C=A B 15 12,000 50,000
D=A-C 985 988,000 4,950,000
=D/1.200 820.83 823,333.33 4,125,000
1 2 3
A 1,000 1,000,000 5,000,000
=A/1.200 833.33 833,333.33 4,166,666.67
2
1 0.5% 25%
2
/ /
T
= -
T
= - -
1.00
T
2006 1
25
= - -
T T+1
T 10,000 1.250 / /
=10,000 1.250=12,500
=12,500 0.5%=62.5
=12,500-62.5=12,437.5
10,000 1.025 1.080
1.140
1 2 3
A 10,000 10,000 10,000
B 1.000 1.000 1.000
C 1.025 1.080 1.140
D=A C 10,250 10,800 11,400
E=D 0.5% 51.25 54 57
F 1.2% 0.9% 0.7%
G=A B F 120 90 70
=D-E-G 10,078.75 10,656 11,273
1.200 10,000 1.230 1.300 1.360
1 2 3
A 10,000 10,000 10,000
B 1.200 1.200 1.200
C 1.230 1.300 1.360
D=A C 12,300 13,000 13,600
E=D 0.5% 61.5 65 68
F 1.8% 1.5% 1.2%
G=A B F 216 180 144
2006 1
26
=D-E-G 12,022.5 12,755 13,388
3
1
2
3
A B A B
B A B B 0
A B A B
A 0 B 5
0
= 0.25%* 0
= * / +
4
2006 1
27
2005 6 8 0.6
2006 2 14 2006 2 20 3 20
5 3
1
2
3
4
5
6
7 2006 2 20 3 20
8
9
