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20
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21
A 60-95% 0-35% 5%
1.
2.
22
/ /
3.
1 2 3
4
PEG
23
EV/EBITDA PEG P/E G 3 PEG PEG
10%
PEG,P/E,P/B,DCF,
EV/EBITDA,
24
80%× A600 20%×
A600 77% 2003
7 A600
2008 9 30
(%)
1
12,665,411,098.72 66.12
2
12,665,411,098.72 66.12
3
1,969,860.30 0.01
4
1,969,860.30 0.01
5
0 0
6
0 0
7
0 0
8
0 0
9
6,450,542,107.92 33.67
10
38,383,891.51 0.20
11
19,156,306,958.45 100.00
25
(%)
A
111,016,802.56 0.58
B
1,505,865,256.40 7.89
C
3,503,566,900.11 18.36
C0
794,650,651.38 4.16
C1
35,619,653.50 0.19
C2
0 0
C3
188,787,112.82 0.99
C4
174,410,396.72 0.91
C5
48,017,608.42 0.25
C6
1,199,961,346.50 6.29
C7
815,418,076.89 4.27
C8
184,982,865.28 0.97
C99
61,719,188.60 0.32
D
263,146,436.49 1.38
E
186,636,754.02 0.98
F
734,467,682.29 3.85
G
394,514,124.77 2.07
H
291,717,788.11 1.53
I
4,101,790,065.32 21.50
J
960,045,969.65 5.03
K
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L
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(%)
1 600036
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2 601628
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3 600000
46,300,000.00 723,206,000.00 3.79
4 601328
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5 600519
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6 600005
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7 000002
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8 601898
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9 000069
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1
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1
2
3
1
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2
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3
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4
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5
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6
0
7
0
8
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4
5
27
,
,
1
2
3
4
1 - 3 2 - 4
2005.12.19 2005.12.31 0.18% 0.12% 2.84% 0.61% -2.66% -0.49%
2006.1.1 2006.12.31 117.67% 1.34% 119.70% 1.38% -2.03% -0.04%
2007.1.1 2007.12.31 145.27% 1.82% 113.79% 1.83% 31.48% -0.01%
2008.1.1 2008.9.30 -46.99% 2.31% -49.18% 2.44% 2.19% -0.13%
2005.12.19 2008.9.30 183.52% 1.83% 111.55% 1.83% 71.97% 0.00%
1
2
3
4
5
6
7
8
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28
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2
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50 M<500 1.2%
500 M<1000 0.6%
29
1000 M 1000 /
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2 N<3 0.25%
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×T
×
25%
3
320001 320002 320004 320005 320006 2008 1 22 2008 9 4
30
4
( )
2008 8 1
1
2
3
4
31
5
6 2008 9 30
7
8
9
10
11
2008 12 19
2009
2
3
