2011 1 23

SAC S0850210050002
chenzy@htsec.com
021-232199244

kongwn@htsec.com
021-23219223

61%
1

2011 1
1 1005.70 51.21% 947.80
60.83% 1139.80 411.30 43.01% 536.50
77.83%

1 1 1005.70 51.21%
2010 5 1013.5
947.80 60.83% 24.89%
44%
1 1139.80
55 / 1.2
1

2006 2011
2006
2009

1200
1000

2007
2010

2008
2011

2006 2011 %
2006
2009

95

947.8

2007
2010

2008
2011

60.83

800

45

600
400

-5
200

Jan

Feb

Mar

Apr May

Jun

Jul

Aug Sep

Oct Nov

Dec

0
Jan

Feb

Mar

Apr May

Jun

Jul

Aug

Sep

Oct Nov

Dec

-55

30

2006 %

24.93

25

2006 %

26.53

25

22.47

22.37
20

15

15

10.66

10.21

10
5

5
06-06 06-12 07-06 07-12 08-06

08-12 09-06 09-12 10-06 10-12

06-06 06-12 07-06 07-12 08-06 08-12 09-06 09-12 10-06 10-12

1 411.30
43.01%

2 1 2
1 36.47%27.96%
6.08% 28.21% 40.24%
8.00% 25.00% 7.41%
12 0.4 24.93%
22.37%10.21% 26.53%21.12% 10.66%
12 4.2 46.3%
5

2006 2010
2006
2009

600

2007
2010

2006 2010 %

2008
2011

2006
2009

2007
2010

2008
2011

100

500
411.3

400

43.01

50

300
200

100

Jan Feb

Mar

Apr May

Jun

Jul

Aug Sep

Oct Nov Dec

0
Jan Feb

Mar Apr May

Jun

Jul

Aug Sep Oct Nov Dec

-50

2008 %

2009 %

120
50

90
40

36.47

30

27.96

60
40.24
28.21
25.00

30

20

0
10
6.08

-30

09-05

09-10

10-03

10-08

11-01

0
08-07

08-12

09-05

09-10

10-03

10-08

11-01

-60

10

2006 2010 %

100

2008 2010

5000

4500

80

4000

60

53.75

40

46.25

3500

20

3000
2500

2000

06-06

07-03

07-12

08-09

09-06

10-03

10-12

09-03

09-06

09-09

09-12

10-03

10-06

10-09

10-12

9 60%1
536.50 77.83% 9 60%
1
56.61%
1 24.23%29.82% 5.59%
145.28% 52.94% 116.22% 68.42%
7.14% 150.00%
2006 2010

11

2006
2009

700

2007
2010

12

2008
2011

2006 2010 %
2006
2009

150

2007
2010

2008
2011

600
536.5

500

100
77.83

400
50

300
200
100

0
Jan

0
Jan Feb

Mar

Apr May

Jun

Jul

Aug Sep

Oct Nov Dec

Feb

Mar

Apr

May

Jun

13

14

29.82

25

24.23

Sep

Oct

Nov

Dec

2009 %

30

Aug

-50

2008 %

Jul

320
240

20

160

15
10

145.28
116.22

80
5.59

7.14

0
0

09-05
08-07

08-12

09-05

09-10

10-03

10-08

11-01

09-10

10-03

10-08

11-01

-80

9 60%1
536.50 77.83% 9 60%
1
56.61%
09

1 37%53%

2010-12 30+%
PEG

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002242.SZ600983.SH000521.SZ000418.SZ600060.SHTCL 000100.SZ
000016.SZ

1.

2.

15%

6
6

5% 15%

-5% 5%

-5%-15%

-15%

5%
-5% 5%

5%