5-1-1
5-1-2
5-1-3
5 < >
,
5-1-4
5-1-5
5-1-6
5-1-7
1.
2.
3.
4.
5.
11.
( )
4900 49%
3000 30%
2100 21%
10,000 100%
5-1-8
10
2005 2 1 2006 12 15 2008 4 23 2008 11 5 2009 5 6 2009 12 30 2010 5 11 2010 6 29 2011 2 1
5-1-9
5-1-10
2008 7 5-1-11
5-1-12
1
2
(1)
(2)
(3)
(4)
(5)
5-1-13
(6)
(7)
(8)
(9)
(10)
(11)
(12)
3
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
4
(1)
(2)
(3) 5-1-14
1
(1)
(2)
(3)
(4)
(5)
2
(1)
(2)
(3)
(4)
(5)
(6)
(7)
3
5-1-15
1
2
3
4
5
4
1
2
3
4
5
6 5-1-16
7
5
1
2
55
1984 1 1
349,018,545,827
010-66105799
2011 6 145 30 95%
1998 QFII QDII QDII 5-1-17
ESCROW 2011 6 219 7 212 2003 26
“ ”
2007 SAS70 70 SAS70 SAS70
1
2
5-1-18
3
1
2
3 “ ”
4
5
6
4
1
2
3 “ ” “ ” “ ” “ ”
5-1-19
4
5
6
7
5
1
2
3
4
5-1-20
1.
2.
5-1-21
5-1-22
5-1-23
5-1-24
5-1-25
5-1-26
? 5-1-27
5-1-28
5-1-29
5-1-30
5-1-31
5-1-32
5-1-33
5-1-34
5-1-35
5-1-36
5-1-37
3.
5-1-38
200 5,000
20
5-1-39
5-1-40
5-1-41
T 1.100 5,000 150 5-1-42
350 1,000 1 2 3 4
(A) 5,000.001,500,000.003,500,000.00 10,000,000.00
(B) 1.50% 1.20% 0.80% 1000 (C=A/(1+B)) 4926.11 1482213.44 3472222.22 9,999,000.00
(D=A-C) 73.89 17,786.56 27,777.78 1,000.00
(=C/1.100) 4478.28 1347466.76 3156565.66 9,090,000.00
T 20,000.00 0.5% 1.250
2 T 20,000.00 0.25% 1.550
3 T 10,000.00 0 % 1.300
5-1-43
5-1-44
5-1-45
5-1-46
1.
580001 580002 580003 A 582001 C 582201 580005 580006 A
583001 B 583101
2
5-1-47
5-1-48
5-1-49
1
5-1-50
5-1
EG
REG
RG
ROE
EROE
ROA
NAV
12 N-3 20% N-2 30%
N-1 50% EG ERG RG ROE EROE ROA NAV
wwwwwww
GI GI= (GI) N%
EG REG RG ROE EROE ROA NAV
EG REG RG ROE EROE ROA NAV wwwwww ×+×+×+×+ ×+×+×w
1
5-2
PE
PB
PS
PCF EV/EBITDA
5-1-51
2
12 N-3 20% N-2 30% N-1 50%
PE PB PS PCF EV/EBITDA
wwwww 3
VI VI= (VI) M% M% N%
PE PB PS PCF EV/EBITDA
PE PB PS PCF EV/EBITDA wwww w ×+×+×+×+ ×
/ 21~25 14~20 7~13 0~6 = + + + 5-1-52
/
/ / 21~25 14~20 7~13 0~6 6~10 1~5 -10~0 = + + + +
3.
5-1-53
5-1-54
5-1-55
5-1-56
5-1-57
169,102,592.47 74.46
169,102,592.47 74.46
- -
- -
- -
- -
- -
- -
57,756,436.75 25.43
238,936.83 0.11
227,097,966.05 100.00
- -
7,082,000.00 3.13
130,317,397.64 57.69
25,809,873.90 11.43
- -
- -
- -
49,137,997.27 21.75
7,174,622.40 3.18
15,028,488.36 6.65
6,588,553.33 2.92
26,577,862.38 11.76
- -
- -
21,660,465.60 9.59
- -
2,066,000.00 0.91
2,172,729.23 0.96
- -
- -
- -
- -
5-1-58
5,804,000.00 2.57
169,102,592.47 74.86
1 002140 789,088 21,660,465.60 9.59
2 600143 1,057,000 17,398,220.00 7.70
3 600111 180,000 12,857,400.00 5.69
4 600809 139,950 9,803,497.50 4.34
5 002214 159,720 7,174,622.40 3.18
6 600803 542,982 7,129,353.66 3.16
7 000792 119,930 7,075,870.00 3.13
8 000596 83,430 6,631,016.40 2.94
9 600315 167,267 5,954,705.20 2.64
10 000869 60,000 5,928,000.00 2.62
185,471.83
-
-
10,401.73
43,063.27
-
-
-
238,936.83
5-1-59
(%)
1 600315
5,954,705.20 2.64
, ,
14.03% 1.23% 17.31% 1.31% -3.28% -0.08%
-4.17% 1.11% -4.92% 1.04% 0.75% 0.07%
9.28% 1.17% 11.15% 1.19% -1.87% -0.02%
= 200 50%+ 50% 75%+ 25% 2011 6 30
2 2010 06 29 5-1-60
2010 6 29
5-1-61
5-1-62
1
1
2
3
4
2
1
2
3
5-1-63
3
4
5
6
7
3 4 0.25% 0.5%
1
5-1-64
2
1
2
3
4
5
6
7
3
1
5-1-65
2
3
4
5 0.25% 0.5%
1
2
3
1 6
2
5-1-66
5-1-67
5-1-68
5-1-69
5-1-70
5-1-71
5-1-72
5-1-73
5-1-74
5-1-75
5-1-76
5-1-77
5-1-78
5-1-79
5-1-80
5-1-81
5-1-82
5-1-83
5-1-84
5-1-85
5-1-86
5-1-87
5-1-88
5-1-89
5-1-90
5-1-91
5-1-92
5-1-93
5-1-94
5-1-95
5-1-96
5-1-97
5-1-98
5-1-99
5-1-100
5-1-101
5-1-102
5-1-103
5-1-104
5-1-105
20 30
7 24 5-1-106
8 / /
021-50509666
www.scfund.com.cn
(1) 2010 12 31
(2) 2011 1 6
(3) 2011 1 18
(4) 2011 1 24 2010 4
(5) 2011 1 31
(6) 2011 2 17
(7) 2011 3 7
(8) 2011 3 17
(9) 2011 3 26
5-1-107
(10) 2011 3 29
(11) 2011 3 31
(12) 2011 4 6
(13) 2011 4 7
(14) 2011 4 8
(15) 2011 4 12
(16) 2011 4 21 2011 1
(17) 2011 5 5
(18) 2011 5 27
(19) 2011 6 13
(20) 2011 6 22
(21) 2011 6 23
5-1-108
5-1-109
