MONGOLIA

2016 8- Market Update

,
1981 30 - 1
. /08.16- , /
GOV
2007 7 / MNT/ 8,425.0
52 9,370.0
, . 52 7,100.0
/ MNT/ 3,646.4
,
66.3 //
EPS / MNT/ 405.2
. 7,801,125
:

- 1
6%
16%
16%

- -

34% Hide Inter LLC

28%

- 2
/ 1 /
:
12000 12000

2009-2015
8000

6000
Whole Garment
4000
.

0 0
2015
Gobi-Mongolian Organic
Cashmere .

/./
2015 9
6,276,052 . :

- 3
1995-2015 //
200
166
150
134 140140
150 125 130
101 100 100100
100
61 60 60
50
20

0
1995 1997 1999 2001 2006 2011 2013 2015

2016 ARDCap Research 1

 8

- 2016 - 4
/ /
. 100000 0.4

47 0.3
. 29,888
50000 25,830 0.2
18,665
15,597
40,777 43,777 0.1
25,646 30,586
, ,
0 0.0
.
2012 2013 2014 2015



:

9 . - 2 -
.
/

2015 9 ,
1 . -
5
. .
2 . ,

- , ,
3 .
,
,
4 .

.
,
5 .

-
6 .

-
7 .


8 .


9 .

:

- 5

66 .

2% 5%


- 2%
9%
.

13%
23,010
91,7 60
66%
331,0
3%
.
4,035 , 630,0 ,
300 300
. :

. 39
63 .

2016 ARDCap Research 2

 8

, - 6
.

. 90000 3000
73,665
66,607
- 60000 49,251 2000
41,243 1,888
1,659
1,397
2017 . 30000 1000

.
0 0
2012 2013 2014 2015
2012-2015 -
/./
.
:
.
- 7
2012 2015 50
. / /
160 50
131
123
2015 ,
100
81
. 80 68 60.6
54.3
38.2 47.4
30.8

,
2016 4 0 40
2012 2013 2014 2015
.

- , /%/
:
.
- 8
/
/
80 71.2 40
65.9
48.8
40.8
40 25.1 20
17.0
7.1 10.5
5.3 3.2
0 0
2012 2013 2014 2015 2016 Q2
Net sales
Net income
Revenue and net profit /%/
:
- 3 / /
2012 2013 2014 2015 2016 Q2
67,704.9 81,227.0 99,978.0 122,760.8 131,185.5
39,449.2 49,431.8 66,149.5 84,252.5 86,100.8
28,255.7 31,795.1 33,828.5 38,508.3 45,084.7
30,766.8 38,161.2 47,434.5 5,428.6 60,640.8
36,938.0 43,065.7 52,543.5 68,475.2 70,544.7

40,826.7 48,758.0 65,934.6 71,210.9 25,064.9
29,709.8 32,513.8 44,274.7 43,273.0 15,456.4
21,659.8 27,937.8 9,608.5
() 2,192.4 2,885.5 13,653.2 3,619.7
/ / 5,250.7 7,102.8 10,491.8 17,023.9 3,161.5

/ROA/ 0.1 0.1 0.1 0.1 0.0
/ROE/ 0.1 0.2 0.2 0.2 0.0
/ROTA/ 0.1 0.1 0.0 0.1 0.0
/EPS/ 673.1 910.5 1,344.9 2,182.2 405.3
(P/E Ratio) 0.1 0.1 0.1 0.1 0.1
:
2016 ARDCap Research 3


2007 .
- ,
, - .

, , ,
,
.
, ,
, .
HKEX, LSE, ASX
and NYSE ,
.

BNY Mellon, Bank Of China International, Unicredit, Credit Suisse, UBS, LSE group

.

2011 -,
2013 GRAND BULL AWARDS
.

2016 ARDCap Research 4