麦肯锡 2003年7月天狮集团战略设计和首次上市咨询报告

SHO/020206/SH-Into to GCO(2000GB)
CONFIDENTIAL
OO
McKinsey&Company
1995,2000,
2002 16
80
500
2002
1998
168
90
34
2700600
2003
McKinsey&Company

KPI

2003
McKinsey&Company
2000622
2*
* 2000920
McKinsey&Company
50
354
*
* 2000920
McKinsey&Company
FPIS database
McKinsey&Company
4~6
McKinsey&Company
McKinsey&Company
McKinsey&Company
4~6
McKinsey&Company
10
()
McKinsey&Company
11
McKinsey&Company
12
OEM
McKinsey&Company
13
()
McKinsey&Company
14
4~6
McKinsey&Company
15
SVC: $77B
Digitalcity
CHINA INTERNET CORP
(Tribune Co.)
McKinsey&Company
16
McKinsey&Company
17

McKinsey&Company
18
1.
2. /
3.
4.
5.
6. ()
McKinsey&Company
19
4~6
McKinsey&Company
20
McKinsey&Company
21
AsiaInfo
200036
Sina
2000413
Netease
2000630
6000
Sohu
2000712
5000
100
4000
3000
2000
20003
Nasdaq
20004
20005
20006
McKinsey&Company
20007
22
-16
10
McKinsey&Company
23
4~6
McKinsey&Company
24
McKinsey&Company
25
McKinsey&Company
26
OTC
McKinsey&Company
27
...

McKinsey&Company
28
/
/

McKinsey&Company

29
4~6
McKinsey&Company
30
50
22
16
75
25%(
11%)
34%(16%)
3
24
0
10
McKinsey&Company
31
McKinsey&Company
32
(
)
()
McKinsey&Company
33
McKinsey&Company
34
11
13
19
14
McKinsey&Company
35
4~6
McKinsey&Company
36
McKinsey&Company
37
4~6
McKinsey&Company
38
IPO
IPO
IPO
IPO
McKinsey&Company
39
/
/
McKinsey&Company
40
4~6
McKinsey&Company
41
...
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
McKinsey&Company
42
2000
2002
2001
9
10
11 12
10
11 12
1.
2.
McKinsey&Company
43
4~6
McKinsey&Company
44
IT
PC
+
McKinsey&Company
45
+
=
McKinsey&Company
46
(1/2)
1
2
3
4
5
6
()
McKinsey&Company
47
(2/2)
1
2
3
4
5
6
McKinsey&Company
48
4~6
McKinsey&Company
49
1-2
IPO
McKinsey&Company
50
McKinsey&Company
51
4~6
McKinsey&Company
52
1.
2.
KPI
P&L
3.
(
100
4.

McKinsey&Company
53
9-11
2-3
/
11-1
(100)
McKinsey&Company
54
McKinsey&Company
55
1.
//
McKinsey&Company
56
1.
2.
3.

4. (
)
()

5.
()

6.

(ROIC)
7.

8.
McKinsey&Company
57
2
3
4
5
6
7
8
/(P.V.A)
9
10
11
12
13
14
McKinsey&Company
58
2. /
/
/
/
/
///
(
)
McKinsey&Company
59
1.
2.
3.
4.
McKinsey&Company
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(1)
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(5)
(6)
(7)
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60
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McKinsey&Company
61
10-15%
25-30%
25-40%
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5-10%
A/B/C
/
McKinsey&Company
62
4.
McKinsey&Company
63
McKinsey&Company
64
4~6
McKinsey&Company
65
(KPI)
KPI
McKinsey&Company
66
McKinsey&Company
IT
IT

67
McKinsey&Company
68
McKinsey&Company
69
(KPIs)

(EP)
McKinsey&Company
70

(ROIC)

()
McKinsey&Company
71
McKinsey&Company
72
()
1
2
3
4
()

1
2
3
.
N
McKinsey&Company
73
McKinsey&Company
74
KPIKPI
KPI
KPI
KPI()
50%
20%
10%
2000
McKinsey&Company
75
2000

2000111231
(KPI)
(ROIC)
(NI)
(FCF)
20%
15%
15%
10%
10%
10%
10%
10%
2000
McKinsey&Company
76
KPI
.
.
.

.
.
.
.
.
.

.
.
.
.
.
.
KPI
McKinsey&Company
77
+200%
100
+100%
50
100
150
200
McKinsey&Company
78
4~6
McKinsey&Company
79
McKinsey&Company
80

IPO
/
McKinsey&Company
81
4~6
McKinsey&Company
82
(
)
I

II

McKinsey&Company
83
McKinsey&Company
84

麦肯锡 2003年7月天狮集团战略设计和首次上市咨询报告

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麦肯锡 2003年7月天狮集团战略设计和首次上市咨询报告

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SHO/020206/SH-Into to GCO(2000GB)

CHINA INTERNET CORP

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