轻工制造行业周报：轻工，家具出口大幅增长；造纸，利润跌幅逐月收窄-130219.ppt

,2013,2,4,2013,2,10,2013 ,2,19,300 1.04% /,4.02% / 11.48%,5.20% vs,5.51%,2.27%,4.59%,3.99%,8.00%,3.43%,5.21%,0.13%,8.65% 5.13%,8.32% s1010510120064,0.51%,-0.11% -0.29% -0.69% 2013 1,42.8% 16.3%,50.1% 18%,2013,1,1 5.97%,11,2012 5.32%,2.5% 11 12.27,11 2013 -4.42%,11 1,3.18% 4.82 -5.40%,2.59% 54.6% 2012,6%,29%,2012,2012,2012,11,eps 12e,13e,14e,11,12e,pe,13e,14e,pb,17.58 10.66 28.26 8.30 22.19 4.86 9.43 7.16,0.51 0.45 0.63 0.40 0.59 0.21 0.55 0.59,0.73 0.55 0.76 0.35 0.57 0.30 0.64 0.57,1.00 0.68 1.00 0.42 0.80 0.41 0.75 0.80,1.29 0.88 1.23 0.52 1.07 - 0.99 1.07,34 24 45 21 38 23 17 38,24 19 37 24 39 16 15 39,18 16 28 20 28 12 13 28,14 12 23 16 21 - 10 21,3.4 2.6 4.3 3.0 2.2 1.9 1.5 2.5,19.30 10.20 - - 18.40 7.39 12.80 5.52,2013,2,8,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,2013,2,4,2013,2,10, 1 2 2 . 11 .15 19,umpaper,2007-2012 ytd, 4,2007-2012 ytd,. 4,umpaper,2007-2012 ytd, 4,2007-2012 ytd,. 4,umpaper,2007-2012ytd,. 4,2007-2012 ytd,. 4,umpaper,2007-2012ytd, 5,2007-2012 ytd, 5,2007-2012ytd, 5,2008-2012ytd 5,2008-2012 ytd 2008-2012 ytd 2001-2012ytd 2001-2012ytd,. 5 7 . 7 . 7,2007-2012ytd 7,2007-2012 ytd,. 7,2007-2012ytd 7 8 . 8 8 8 . 8 . 8 9 9,2007-2012ytd,. 9,28,29,30,31,32,33,34,35,36,37,38,39,40,41,42,43,44,45,46,47,48,49,50,51,52,53,54,55,56,57,2013,2,4,2013,2,10,27,fai,2003-2012 ytd,10,2007-2012 ytd 2007-2012 ytd,. 11 . 11,2007-2012 ytd 2007-2012 ytd, 11 11,. 11 . 11,2007-2012 ytd 2007-2012 ytd,.12 .12,2007-2012 ytd 2007-2012 ytd,13 13,2007-2012 ytd,.14,2007-2012ytd 14,2007-2012 ytd 2007-2012 ytd,14 14,2007-2012 ytd,.15,2007-2012ytd 15,2007-2012 ytd 2007-2012 ytd,15 15,.16 16 .16 16,2007-2012 ytd 2007-2012 ytd,.17 .17,2007-2012 ytd 2007-2012 ytd,18 18,2007-2012 ytd 2007-2012 ytd,.19 .19,2007-2012 ytd 2007-2012 ytd,19 19,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,2013,2,4,2013,2,10, 2 6 9 10 10 12 12 13 13 14 15 17 17 18 18 20,2012,12,24,2012,12,30,2012 2012,20,20.1,(,),0.7%,10,4.9,fsc,pefc,-,2001,2007,pefc,fsc,fsc,pefc,-,dna,dna,1,18,dna,10,-,10,12,19,-,2012,12 2013,20,3,2,6,2.4,10,7400,17.8,12,3000,1,3000 0.6%,(,),2013 2013,7,7,1,1,1,1,2012,12,24,2012,12,30,0.13%,0.13%,4.29% 2011,2011,8.23%,17.28%,0.51%,1.23% 4.63% 2011,2.55%,3.52%,0.24%,6.06% 2011,15.41%,15.52%,0.06% 4.93% 2011,9.66% 2011 9.47%,1,7.53% 2011,17.16%,/,2013/02/06,11,11,upm 21#,6367 6583 6317 5375 5367 5800 5800,0 0 50 0 0 0 0,0.00% 0.00% 0.80% 0.00% 0.00% 0.00% 0.00%,0 0 50 0 0 0 0,0.00% 0.00% 0.80% 0.00% 0.00% 0.00% 0.00%,-125 -125 -350 -458 -233 -283 0,-1.93% -1.86% -5.25% -7.86% -4.17% -4.66% 0.00%,-733 -492 -8 -642 -600 -733 0,-10.33% -6.95% -0.13% -10.66% -10.06% -11.22% 0.00%,-125 -125 -350 -458 -233 -283 0,-1.93% -1.86% -5.25% -7.86% -4.17% -4.66% 0.00%,0.13%,0.11%,-3.67%,-7.05%,-3.67%,5533 5300 5583 5467 5183 5750 5417 4800 4842,33 33 17 0 17 33 0 100 0,0.61% 0.63% 0.30% 0.00% 0.32% 0.58% 0.00% 2.13% 0.00%,117 50 83 33 92 108 0 100 0,2.15% 0.95% 1.52% 0.61% 1.80% 1.92% 0.00% 2.13% 0.00%,-17 -33 -258 -75 -42 -233 -308 -342 25,-0.30% -0.62% -4.42% -1.35% -0.80% -3.90% -5.39% -6.65% 0.52%,-983 -1008 -1233 -1167 -1100 -1183 -1117 -1042 -1158,-15.09% -15.98% -18.09% -17.59% -17.51% -17.07% -17.09% -17.83% -19.31%,-17 -33 -258 -75 -42 -233 -308 -342 25,-0.30% -0.62% -4.42% -1.35% -0.80% -3.90% -5.39% -6.65% 0.52%,0.51%,1.23%,-2.55%,-17.28%,-2.55%,7317 6233 5325 6550 5308 5333,0 0 0 0 0 0,0.00% 0.00% 0.00% 0.00% 0.00% 0.00%,0 0 25 0 25 25,0.00% 0.00% 0.47% 0.00% 0.47% 0.47%,-350 -75 -600 58 -617 -658,-4.57% -1.19% -10.13% 0.90% -10.41% -10.99%,-367 -883 -1467 -708 -1367 -1633,-4.77% -12.41% -21.60% -9.76% -20.47% -23.44%,-350 -75 -525 58 -517 -683,-4.57% -1.19% -8.97% 0.90% -8.87% -11.36%,2,2012,12,24,2012,12,30,2013/02/06,11,11,0.00%,0.24%,-6.06%,-15.41%,-5.68%,5308 3650 3800 5417 3950 4750 4633,0 0 0 0 0 0 0,0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%,0 0 0 0 0 -17 0,0.00% 0.00% 0.00% 0.00% 0.00% -0.35% 0.00%,-358 -592 -492 0 -592 -417 -250,-6.32% -13.95% -11.46% 0.00% -13.03% -8.06% -5.12%,-358 -1125 -1025 0 -783 -700 -667,-6.32% -23.56% -21.24% 0.00% -16.55% -12.84% -12.58%,-258 -592 -492 0 -592 -242 -150,-4.64% -13.95% -11.46% 0.00% -13.03% -4.84% -3.14%,0.00%,-0.05%,-8.28%,-13.30%,-7.29%,5150,0,0.00%,-50,-0.96%,-325,-5.94%,175,3.52%,-150,-2.83%,a,3283,0,0.00%,0,0.00%,-167,-4.83%,-317,-8.80%,-117,-3.43%,b,3142,0,0.00%,0,0.00%,-158,-4.80%,-358,-10.24%,-158,-4.80%,c,3058,0,0.00%,0,0.00%,-167,-5.17%,-317,-9.38%,-167,-5.17%,a,3383,0,0.00%,0.00%,0.00%,-4.93%,-9.47%,-4.47%,/,3883,0,0.00%,0,0.00%,-342,-8.09%,-467,-10.73%,-342,-8.09%,/,3733,0,0.00%,0,0.00%,-342,-8.38%,-467,-11.11%,-342,-8.38%,/,3550,0,0.00%,0,0.00%,-300,-7.79%,-450,-11.25%,-325,-8.39%,/,3758,0,0.00%,0,0.00%,-942,-20.04%,0,0,-942,-20.04%,/,3542,0,0.00%,0,0.00%,-958,-21.30%,0,0,-958,-21.30%,/,3442,0,0.00%,0,0.00%,-858,-19.96%,0,0,-858,-19.96%,0.00%,0.00%,-14.26%,-11.03%,-14.36%,3,2012,12,24,2012,12,30,1,umpaper,2,2007-2012 ytd,2007-2012 ytd,/t,120.00 110.00 100.00 90.00 80.00,9000 8500 8000 7500 7000 6500 6000 5500 5000 4500,upm,21#,3,umpaper,4,2007-2012 ytd,2007-2012 ytd 130.00 120.00 110.00 100.00 90.00 80.00 70.00,8500 8000 7500 7000 6500 6000 5500 5000 4500,/t,5,umpaper,6,2007-2012 ytd,2007-2012ytd 130.00 120.00 110.00 100.00 90.00 80.00 70.00,9000 8500 8000 7500 7000 6500 6000 5500 5000 4500 4000,/t,4,9,2012,7,12,24,2012 umpaper,12,30,8,2007-2012 ytd,2007-2012ytd 90.00 80.00 70.00 60.00 50.00,6500 6000 5500 5000 4500 4000 3500 3000 2500,/t,/t,2007-2012ytd,10,/t,2008-2012ytd,7000 6500 6000 5500 5000 4500 4000 11,2008-2012 ytd,4200 4000 3800 3600 3400 3200 3000 2800 2600 2400 2200 2000 1800 1600,a,b,c,a,/t,5500 5000 4500 4000 3500 3000 2500 2000,/ /,/ /,/ /,2009,3,20%,2009,3,8,2012,2010 3,6%,2%7%,6%,2%,5,2012,12,24,2012,12,30,8% 14%,1.6%,10%,09,3,10,20% 3,09,3,8,0.05%,1.38%,5.8% 2011,29.90%,2, -0.88% 3.98% -2.59% 27.05% 21.23% 21.72%,1.39% 8.69% 0.65% 8.96% 6.3% 14.62% 2011 /,2013/ 02/06,11,11,4658 4658 4625 4675 4708 4775 4675 4683,0 0 0 0 0 0 0 0,0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%,83 83 75 150 -17 150 10 58,1.82% 1.82% 1.65% 3.31% -0.35% 3.24% 0.21% 1.26%,-2167 -2167 -1150 -2175 -2217 -2075 -2175 -1267,-31.75% -31.75% -19.91% -31.75% -32.01% -30.29% -31.75% -21.29%,-683 -683 -750 -700 -1017 -742 -900 -929,-12.79% -12.79% -13.95% -13.02% -17.76% -13.44% -16.14% -16.56%,-242 -242 150 -225 -792 -450 -550 183,-4.93% -4.93% 3.35% -4.59% -14.39% -8.61% -10.53% 4.07%,0.00%,1.62%,-28.81%,-14.56%,-5.07%,3# 6# 8# 9# 10# 11# 12# 13#a 37#,1022 1405 1184 1387 1324 1331 1732 1511 1402,-20 3 2 3 2 2 3 3 3,-1.91% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19%,-11 1 23 1 1 45 2 1 1,-1.11% 0.09% 1.97% 0.09% 0.09% 3.49% 0.09% 0.09% 0.09%,-405 -35 -385 -414 -443 -404 -101 -586 -910,-28.38% -2.43% -24.54% -22.98% -25.07% -23.28% -5.51% -27.96% -39.36%,-207 197 -134 -81 -126 -120 299 -196 -322,-16.83% 16.30% -10.14% -5.53% -8.72% -8.29% 20.84% -11.46% -18.66%,-216 -15 -85 -197 -203 -197 -18 -284 -141,-17.42% -1.06% -6.70% -12.46% -13.30% -12.89% -1.06% -15.81% -9.13%,-0.11%,0.68%,-27.37%,-11.37%,-12.53%,a2 softmixed uk occ a5 8020 a5 9010 a9 7030 a9 8020 b2 a2 softmixed,1006 1262 1250 1250 1200 1200 1387 1028,-4 2 2 2 2 2 3 -17,-0.43% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% -1.60%,113 110 98 98 85 85 1 110,12.65% 9.56% 8.48% 8.48% 7.64% 7.64% 0.09% 11.97%,-361 -281 -254 -270 -303 -327 -249 -339,-26.41% -18.20% -16.87% -17.77% -20.19% -21.40% -15.20% -24.81%,-127 -4 55 14 -22 -57 -30 -132,-11.19% -0.35% 4.58% 1.12% -1.83% -4.50% -2.12% -11.40%,-143 -202 -284 -344 -353 -76 -157 -168,-12.44% -13.82% -18.53% -21.59% -22.73% -5.94% -10.14% -14.07%,-0.29%,8.38%,-21.20%,-5.91%,-11.28%,3# 8# 11#,1315 1324 1240,2 -19 -10,0.19% -1.44% -0.81%,54 7 48,4.30% 0.57% 4.01%,-264 -334 -355,-16.73% -20.14% -22.28%,-10 -82 -50,-0.72% -5.84% -3.89%,-168 -235 -253,-11.35% -15.05% -16.92%,-0.69%,2.96%,-19.72%,-3.48%,-14.44%,6,),2012,12,24,2012,12,30,12,/t,2008-2012 ytd,13,/t,(nbsk),2001-2012ytd (bhkp),900,8500 8000 7500 7000 6500 6000 5500 5000 4500 4000 3500 3000,800 700 600 500 400 300,14,$/t,2001-2012ytd,15,/t,2007-2012ytd,3#,8#,9#,10#,11#,13#a,37#,(nbsk) 2800,1100 1000 900 800 700 600 500 400 300,foex,2400 2000 1600 1200 800 400,foex,16,/t,2007-2012 ytd,17,/t,2007-2012ytd,a2 softmixed(,uk occ,a9(8020),3#,8#,11#,2400 2000,b2,a2 softmixed(,),2400 2000,1600 1600 1200,1200 800 400,800 400,2012 2012,11,11,1.07 1568,5.30%, 4.82%,10 10,0.20 0.55,7,fe,jub/07,ocn/07,fet/07,jub/08,on/08,fect/08,jub/09,ocn/09,fet/09,jub/10,on/10,fect/10,jub/11,ocn/11,fet/11,jub/12,ocn/12,t/1,2,o,dect/,0,fec/08,apb/8,0,jur/09,aun/9,g/09,o,dect/09,fec/09,apb/09,jur/10,aun/10,og10,dect/10,1,fec/10,apb/10,jur/11,aun/1,og11,dect/11,1,fec/11,apb/1,1,jur/12,aun/2,1,og/12,ct/2,12,2012,12,24,2012,12,30,18,(%),19,%,12000 10000 8000 6000 4000 2000 0,wind,50 40 30 20 10 0 -10 -20,2500 2000 1500 1000 500 0,wind,50 40 30 20 10 0 -10 -20 -30 -40,2013,1,26,42.8%,3.31,50.1%,20,(%),21,(%),usd mn,450 400 350 300 250 200 150 100 50 0,wind,80 60 40 20 0 -20 -40 -60,4500 4000 3500 3000 2500 2000 1500 1000 500 0,wind,80 60 40 20 0 -20 -40 -60,2013,1,136,16.3%,9.09,18%,22,(%),23,usd mn (%),1800 1600 1400 1200 1000 800 600 400 200 0,wind,50 40 30 20 10 0 -10 -20 -30,14000 12000 10000 8000 6000 4000 2000 0,wind,100 80 60 40 20 0 -20 -40 -60,2012,56.89,471,10.2%,11,4.60%,1.4,11,0.9,8,1,1,7,8,3,2012,12,24,2012,12,30,24,(%),25,(%),usd mn,500 450 400 350 300 250 200 150 100 50 0,wind,100 80 60 40 20 0 -20 -40 -60,6000 5000 4000 3000 2000 1000 0,wind,80 60 40 20 0 -20 -40 -60,2009,3,cad brl inr,17.02% 13.22%,12.99%,2009,3,09,26,3,2007-2012ytd,3%,2010 2011,usd/cny,cad/cny,brl/cny,inr/cny,eur/cny,30.00% 20.00% 10.00% 0.00% -10.00% -20.00% -30.00% -40.00%,bloomberg,2007,1,1,3,usd/cny,cad/cny,brl/cny,inr/cny,eur/cny,2007,-20.20%,-6.99%,-12.97%,-25.30%,-19.34%,2007 2008 2009,2007 11,11,7,-4.77% -16.20% -8.84% -8.89%,20.79% -23.18% -6.71% 17.02%,16.89% -25.54% -27.35% 13.22%,-5.60% -20.86% -14.18% 12.99%,5.75% -23.74% -21.87% -3.40%,bloomberg,2007,1,1,2012,fai,2221,15.52%,11,1.8,11,31.10%,15.58,9,fe,apb/0,jur/03,aun/3,0,og/03,dct/03,ec3,fe/0,apb/03,jur/04,aun/04,og/04,dct/04,e,fec/04,apb/04,jur/05,aun/05,og/05,dct/05,e,fec/05,apb/05,jur/06,aun/06,og/06,dct/06,e,fec/06,apb/06,jur/07,aun/7,0,og/07,dct/07,ec7,fe/0,apb/07,jur/08,aun/8,0,og/08,dct/08,e,fec/08,apb/08,jur/09,aun/09,og/09,dct/09,e,fec/09,apb/19,jur/10,aun/10,og/10,dct/10,e,fec/10,apb/10,jur/11,aun/11,og/11,dct/11,e,fec/11,apb/11,jur/12,aun/2,1,og/12,dct/12,ec2,/1,2,2012,12,24,2012,12,30,27 fai / / / / / / wind,2003-2012 ytd,(%),rmb mn 60 50 40 30 20 10 0 -10 -20,2012 12.78%,6888 0.18,11,11 0.49,3.18%,2.59%,7.75%,5.32%,0.49,10,11 4.82,0.20,343,4,2011 12 671,412 584,363 2,726 14,361 11,975 17,912 36,213 12.96% 7.26%,2012 2 98,335 17.07% 86,947 360 2,341 2,701 3,019 2,906 -19.12% 11.58% 8.20%,2012 3 161,209 16.35% 141,798 608 3,645 4,170 4,612 5,572 -14.86% 12.04% 7.71%,2012 4 219,122 14.01% 192,328 784 4,933 5,632 6,161 8,209 -10.08% 12.23% 7.63%,2012 5 277,199 10.41% 243,449 977 6,156 7,245 7,723 10,583 -11.33% 12.18% 7.62%,2012 6 336,593 8.01% 295,447 1,193 7,310 8,831 9,308 13,187 -14.69% 12.22% 7.56%,2012 7 391,768 6.15% 344,427 1,478 8,578 10,160 10,931 15,062 -16.48% 12.08% 7.57%,2012 8 449,649 5.53% 395,606 1,780 9,852 11,564 12,611 17,386 -15.61% 12.02% 7.57%,2012 9 509,225 4.96% 448,057 2,015 11,209 12,914 14,307 19,799 -15.58% 12.01% 7.55%,2012 10 569,048 4.41% 500,447 2,295 12,508 14,240 16,008 22,642 -14.17% 12.06% 7.51%,2012 11 627,737 3.18% 550,605 2,564 13,886 15,614 17,921 27,044 -10.14% 12.29% 7.55%,2012 12 688,806 2.59% 600,771 2,929 15,599 17,200 20,595 34,286 -5.32% 12.78% 7.75%,wind 5,2011 12 63,023 52,398 374 1,769 1,071 2,415 6,115 16.86% 8.34%,2012 2 98,335 17.07% 86,947 360 2,341 2,701 3,019 2,906 -19.12% 11.58% 8.20%,2012 3 62,874 15.25% 54,851 248 1,304 1,469 1,593 2,666 -9.68% 12.76% 6.94%,2012 4 57,913 7.97% 50,530 177 1,288 1,462 1,549 2,637 2.04% 12.75% 7.42%,2012 5 58,077 -1.34% 51,121 193 1,223 1,613 1,562 2,374 -15.41% 11.98% 7.57%,2012 6 59,394 -1.94% 51,998 216 1,154 1,586 1,585 2,604 -26.06% 12.45% 7.28%,2012 7 55,175 -3.98% 48,980 285 1,268 1,329 1,622 1,875 -27.24% 11.23% 7.65%,2012 8 57,881 1.55% 51,179 301 1,274 1,404 1,680 2,324 -9.54% 11.58% 7.53%,2012 9 59,576 0.87% 52,451 235 1,357 1,350 1,696 2,412 -15.32% 11.96% 7.39%,2012 10 59,823 -0.03% 52,390 280 1,299 1,326 1,701 2,844 -2.85% 12.42% 7.23%,2012 11 58,689 -7.43% 50,158 269 1,378 1,374 1,912 4,402 18.40% 14.53% 7.95%,2012 12 61,069 -3.10% 50,165 366 1,713 1,586 2,674 7,242 18.42% 17.86% 9.78%,wind 10,2012,12,24,2012,12,30,28 800,000,rmb mn,2007-2012 ytd,40%,29,rmb mn,2007-2012 ytd,700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 30,wind,35% 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% 2007-2012 ytd,40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 31,wind,200% 150% 100% 50% 0% -50% -100% 2007-2012 ytd,15% 14% 13% 12% 11% 10% 9% 8% 7% 6% 5%,wind,19% 17% 15% 13% 11% 9% 7% 5%,wind,2012 2012,2809 970,9.05% 9.33%,11 11,0.19 0.94,32,wind,33,wind,11,2012,12,24,2012,12,12,30 11,3132,10,6.81%,6.47% 179,6.46%,13.73% 0.45 15.33%,0.38 10,10 3.52,10 0.06,0.57,6,2011 11 294,134 22.02% 254,860 1,464 6,806 2,259 8,610 15,514 18.54% 13.35% 6.01%,2011 12 327,248 282,008 1,801 7,569 2,574 9,747 19,335 13.82% 6.08%,2012 2 45,172 10.95% 38,863 230 1,150 434 1,539 2,576 17.86% 13.97% 6.91%,2012 3 73,229 10.63% 62,753 355 1,813 702 2,402 4,203 21.24% 14.31% 6.71%,2012 4 101,484 10.96% 87,508 497 2,456 937 3,290 5,517 16.96% 13.77% 6.59%,2012 5 128,910 9.01% 111,629 626 3,143 1,190 4,138 6,745 9.42% 13.41% 6.57%,2012 6 159,959 8.04% 138,935 788 3,819 1,465 5,085 8,498 11.65% 13.14% 6.48%,2012 7 188,900 7.69% 164,254 920 4,479 1,709 5,933 10,072 9.22% 13.05% 6.42%,2012 8 218,554 7.05% 189,976 1,124 5,191 1,987 6,853 11,613 10.72% 13.08% 6.42%,2012 9 249,496 6.89% 216,820 1,281 5,918 2,235 7,786 13,309 10.99% 13.10% 6.39%,2012 10 280,571 6.81% 243,654 1,469 6,684 2,493 8,787 15,347 11.81% 13.16% 6.40%,2012 11 313,156 6.47% 270,162 1,783 7,511 2,738 9,974 17,892 15.33% 13.73% 6.46%,wind 7,2011 11 31,451 26,607 110 720 285 961 1,788,2011 12 33,113 27,148 337 762 315 1,137 3,821,12 2 45,172 10.95% 38,863 230 1,150 434 1,539 2,576,2012 3 28,057 10.11% 23,889 125 663 268 862 1,627,2012 4 28,255 11.83% 24,756 141 643 235 888 1,314,2012 5 27,426 2.36% 24,121 130 687 253 849 1,228,2012 6 31,049 4.21% 27,306 162 677 275 947 1,752,2012 7 28,942 5.76% 25,319 131 659 244 848 1,574,2012 8 29,653 3.14% 25,722 204 713 279 920 1,541,2012 9 30,943 5.78% 26,844 158 727 247 933 1,696,2012 10 31,075 6.18% 26,834 188 766 259 1,000 2,038,2012 11 32,585 3.61% 26,508 314 827 244 1,187 2,545,27.02%,5.09%,-15.16%,21.19%,-2.29%,21.67%,12.87%,17.52%,42.29%,15.40% 6.25%,18.01% 6.69%,13.97% 6.91%,14.85% 6.39%,12.38% 6.25%,12.05% 6.52%,12.06% 6.11%,12.52% 6.05%,13.26% 6.45%,13.25% 6.17%,13.65% 6.52%,18.65% 6.93%,wind,34 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0,rmb mn wind,2007-2012 ytd,35% 30% 25% 20% 15% 10% 5% 0%,35 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0,rmb mn wind,2007-2012 ytd,70% 60% 50% 40% 30% 20% 10% 0% -10%,12,9,9,2012 36,12,24,2012,12,30 2007-2012,37,2007-2012 ytd,ytd,17% 15% 13% 11% 9% 7% 5%,wind,21% 19% 17% 15% 13% 11% 9% 7% 5%,wind,4.78%,2012 6.10% 3.48%,11 11.67% 0.55 10,1949 0.28 4.82,10,10 0.05,10,0.48,4.44% 94,8,2011 11,2011 12,2012,2 2012,3 2012,4 2012,5 2012,6 2012,7 2012,8 2012,2012 10,2012 11,186,023 17.36% 163,784 634 3,155 1,971 5,190 9,708 34.14% 11.96% 5.55%,208,241 183,053 751 3,582 2,168 5,893 11,797 12.10% 5.59%,27,641 3.69% 24,309 90 515 400 918 1,219 -29.79% 12.05% 6.63%,45,289 5.11% 39,935 148 827 625 1,402 2,088 -20.50% 11.82% 6.30%,61,717 4.18% 54,324 206 1,145 806 1,959 2,862 -20.07% 11.98% 6.34%,80,009 4.79% 70,480 268 1,485 983 2,475 3,629 -19.60% 11.91% 6.18%,99,011 4.65% 87,346 338 1,869 1,208 3,109 4,424 -18.27% 11.78% 6.25%,116,782 4.59% 103,666 400 2,209 1,425 3,739 5,041 -18.02% 11.23% 6.31%,134,738 3.92% 119,727 472 2,551 1,642 4,183 5,727 -18.12% 11.14% 6.22%,154,153 3.46% 136,921 560 2,926 1,850 4,706 6,545 -14.94% 11.18% 6.15%,173,687 4.44% 154,257 659 3,306 2,073 5,311 7,720 -8.30% 11.19% 6.15%,194,911 4.78% 172,156 754 3,685 2,293 5,910 9,370 -3.48% 11.67% 6.10%,wind 9,2011 11 19,723,2011 12 22,218,2012 27,641,2 2012 17,649,3 2012 16,428,4 2012 18,292,5 2012 19,002,6 2012 17,771,7 2012 17,956,8 2012 19,414,2012 10 19,535,2012 11 21,223,3.69%,7.42%,1.67%,-63.19%,4.09%,4.25%,-0.24%,0.33%,12.94%,7.61%,16,908 97 317 149 585 1,289 14.27% 5.33%,19,270 116 427 198 702 2,089 13.27% 5.97%,24,309 90 515 400 918 1,219 -29.79% 12.05% 6.63%,15,626 58 312 226 484 868 -2.34% 11.46% 5.79%,14,389 58 318 180 558 774 -18.91% 12.41% 6.43%,16,156 63 340 177 516 768 -72.35% 11.68% 5.65%,16,866 70 384 225 634 795 -11.62% 11.24% 6.54%,16,320 62 340 217 630 617 -16.15% 8.17% 6.67%,16,061 72 342 218 444 686 -18.85% 10.55% 5.59%,17,194 88 375 208 524 818 16.78% 11.43% 5.70%,17,335 98 380 223 604 1,175 62.34% 11.26% 6.18%,17,899 96 379 220 599 1,650 28.02% 15.66% 5.64%,wind 13,2012,12,24,2012,12,30,38 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 40,rmb mn wind,2007-2012 ytd 35% 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% 2007-2012,39 12,000 10,000 8,000 6,000 4,000 2,000 0 41,rmb mn wind,2007-2012ytd 140% 120% 100% 80% 60% 40% 20% 0% -20% -40% -60% 2007-2012 ytd,ytd,16% 14% 12% 10% 8% 6% 4%,wind,18% 16% 14% 12% 10% 8% 6% 4%,wind,2012,11,1313,10,6.84%,7.23% 77,7.54%,15.62% 2.85%,0.69,10,0.74,10 1.85,10,0.35,10,2011 11 122,407 8.17% 104,187 673 2,839 1,304 4,247 7,950 10.63% 14.89% 6.85%,2011 12 135,368 114,766 766 3,202 1,437 4,781 9,279 15.22% 6.96%,2012 2 19,350 16.31% 16,112 121 461 250 790 1,128 15.47% 16.73% 7.75%,2012 3 31,044 16.66% 26,232 180 737 377 1,241 1,702 5.97% 15.50% 7.58%,2012 4 41,370 11.05% 35,009 266 981 494 1,605 2,385 9.73% 15.38% 7.44%,2012 5 53,141 8.61% 45,003 327 1,277 564 2,074 3,105 6.61% 15.31% 7.37%,2012 6 66,473 8.12% 56,183 381 1,556 791 2,621