ֻࣴӬ൧ҍༀ࣮Бۡ ୍ ϱಃലૼğھБ֥ۡ෮Ⴕோaі۬ࠣ໓ሳଽಸ֥ϱಃ݂ηೋ൧ӆሦ࿘Ⴕཋ܄ඳ෮Ⴕbఃᇏđ҆ٳіᄝѓᇿႵඔऌটჷ֥౦ঃ༯đϱಃ݂උჰඔऌ෮Ⴕ܄ඳbηೋ܄ඳ౼֤ඔऌ֥ࣥটჷႿ܄ष֥ሧਘđೂݔႵടࠣϱಃ࣯ٴ໙ีđ౨ࠣൈ৳ηೋ܄ඳb
iResearch JIUCHENG Financial Research Report 2006 ଢ ܄ඳۀঃ Ⴓ༤Ӂࠣఋ༯ຩᅟ Ⴓ༤Ӂ ఋ༯ຩᅟ ܵؒ ֻࣴӬ൧ն൙࠺ Бۡᅋေ ֻࣴӬ൧࣪ႏ൬حҍༀٳ༅ ֻࣴӬ൧ ୍࣪ႏ൬حҍༀٳ༅ ֻࣴӬ൧ ୍۲࠱؇࣪ႏ൬حҍༀٳ༅ uଊ൵ൗࢸv࣪ႏ൬ҍༀٳ༅ ֻࣴӬ൧ႏ൬ܒӮҍༀٳ༅ ֻࣴӬ൧ႏᄎᆦԛҍༀٳ༅ ֻࣴӬ൧ ୍ႏᄎᆦԛ౦ঃ ֻࣴӬ൧ ୍؇۲࠱؇ႏᄎᆦԛ౦ঃ ֻࣴӬ൧ર০a࣪০ࠣૄܢ"%4൬ၭҍༀٳ༅ ֻࣴӬ൧ર০ҍༀٳ༅ ֻࣴӬ൧ ୍ર০౦ঃ ֻࣴӬ൧ ୍؇۲࠱؇ર০౦ঃ ֻࣴӬ൧࣪০ҍༀٳ༅ ֻࣴӬ൧ ୍࣪০౦ঃ ֻࣴӬ൧ ୍۲࠱؇࣪০౦ঃ ֻࣴӬ൧ૄܢ"%4൬ၭҍༀٳ༅ ֻࣴӬ൧აြ܄ඳܱႿຩႳ༤࣪ႏ൬౦ঃ֥бࢠٳ༅ հ༂Ćໃקၬదb مੰലૼğ Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ܄ඳۀঃ ֻࣴӬ൧࠹ෘࠏඌሦ࿘čഈݚĎႵཋ܄ඳ čࡥӫoֻࣴӬ൧pࠇoࣴӬpĎ൞ݓଽቋն֥ຩႳ༤ᄎႏഅᆭ၂bࣴӬሱ ୍ఏԛਔຩഈྴഠ ֻࣴӬ൧ ѩᄝ୍ ᄅषഅြᄎႏbଢభࣴӬ֥ြༀᇶေູཟᇏݓຩႳທࡅᄎႏބؿ ն؟ದ࢘ϲဆোຩႳ༤ uଊ൵ൗࢸvၛࠣࣴӬሱᇶؿ֥uॹু༆Ⴓvᄝଽ֥..031(Ⴓ༤bࣴӬߎࠆ֤ਔuሜᄀᆭࡴvđuఅࠖൗࢸvđuࠗᅞvđuπޑᆭğؗvđu༶Ԯඪ vđu&NJM $ISPOJDMF 0OMJOFvބu)VYMFZvᄝᇏݓ֥ࡅᄎႏಃbՎຓđࣴӬߎᄝؿ၂ॻົ..031(Ⴓ༤uߘམൗࢸvbषؿބᄎႏ֥ఃڛༀߎЇওႳ༤ᄎႏᆦӻaຩᅟࢳथٚσaܼۡڛༀބႳ༤ཌྷܱ֥؋ྐڛༀb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 Ⴓ༤Ӂࠣఋ༯ຩᅟ Ⴓ༤Ӂ ݢݓ8FC[FO܄ඳषؿđ ୍ ᄅ ರᆞൔᄎႏ В࿒ুषؿđ ୍୍ԚࣴӬӮູᇏݓთ֥ࡅսᄎႏഅ ࣴӬ৫षؿđႳ༤МࣟჷႿᇏݓܞׅᇷ ֻࣴӬ൧ ୍Ԛࣉྛཛଢሧđൈਆ୍षؿ֥၂ॻն߭ކᇅ %ຩႳ༤ uఅࠖൗࢸvč 46/ Ď൞ 8&#;&/ ܄ඳuఅࠖvč .6 Ďᆭު֥Ⴛ၂৯ቔđ൞၂ॻݢݓᗟڂࠩ % ຩႳऍቔ ൗࢸ൮ॻ၂ದॖൈҠሺ؟࢘ࣉྛႳ༤֥..031( ࠗᅞ (8
൞Ⴎ /$40'5 ఋ༯֥ "SFOBOFU षؿ֥ྍ ..031( Ⴎఋࡳ۽ቔ൩č'MBHTIJQ 4UVEJP
षؿֻ֥၂ದӫഝࠌোљ֥..031(b Ⴎ(SBWJUZषؿ֥ົव๙ڄ۬..031(b Ⴎ8FC[FO܄ඳषؿ֥đ٤ӈ఼טֻ၂ದӫഝࠌหྟ֥ຩႳ༤đࠧo..0'14pb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 . ఋ༯ຩᅟ ࣴӬഠ ؿ҃Ⴟ ୍ ᄅđݓଽ൮ࡅิԛྴӬ൧ഠۀ֥ӑնᇏ ໓ຩᅟ ࣴӬທ ࡹ৫Ⴟ ୍ ᄅ ರđၛิ܂ሰႳ༤ሧູᇶ ࣴӬથ ᇶေູથιݺᆀิ܂߂થ߂ሧđЇওြଽྍ໔ॹБđྍ໔ࢺ ക֩ ܵؒ ܵؒ ܵؒ ᆯᄳ Jun Zhu ൙߶ᇶ༜࡙൮༜ᆳྛܲ Hannah Lee CA, CPA ڬሹҊ࡙൮༜ҍༀܲ Xudong He ڬሹҊ Alan Chen ڬሹҊ࡙൮༜ඌܲ Chris Shen ڬሹҊ--൧ӆႏཧ Jun Yao ڬሹҊ Yong Wang ڬሹҊ Lingdong Huang ڬሹҊ Swun Woo (Tony) Park ڬሹҊ Fumin (Benjamin) Lin ڬሹҊ © iResearch Inc. Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧ն൙࠺ ୍ ᄅ ᇏݓݓଽפࡕຩႳ༤षؿഅބᄎႏഅֻࣴӬ൧ /"4%"2 /$5:
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ࠆ֤ਔն؟ದ৵ཌֻ၂ದӫഝࠌႳ༤ ..0'14
u)VYMFZvᄝᇏݓ֥ࡅᄎႏಃb ୍ ᄅ ֻࣴӬ൧࿆҃ၘࣜࠆ֤ݢݓ(SBWJUZ܄ඳषؿ֥ %ຩႳ༤u༶Ԯඪ vᄝݓଽື၂ᄎႏಃđൈđֻࣴӬ൧ߎࡼᄎႏ(3"7*5:֥ਸ਼ຓ၂ॻ %ຩႳu&$ 0-vb ୍ ᄅ ֻࣴӬ൧ؓຓ࿆҃đၘົຫְႳ༤܄ඳބВ࿒ুࣼuଊ൵ൗࢸvჰ൞൱ಃླྀၰ֥Ҁԉ่ॻղӮ၂ᇁđࡼᄝᇏݓնԛྍሧਘோuಗഎ֥ჹᆘvb ୍ ᄅֻࣴӬ൧ބݢݓ)BOCJU4PGU܋࿆҃đຣᇙᇴଢ֥ն %؟ದᄝཌ࢘ϲဆႳ༤č..031(Ďऍቔu)FMMHBUF -POEPOvቋᇔಒקႮֻࣴӬ൧ఋ༯॥ܢሰ܄ඳքᄝᇏݓն֥ື၂ᄎႏഅb ୍ ᄅႮ฿Ԯૂ൱ಃđഉރđֻࣴӬ൧৳ކᄎႏ֥uӑ୯ൗࢸ0OMJOFvႳ༤ᆞൔఓb ୍ ᄅoֻࣴӬ൧pӮູ/$TPGU৯ቔuࠗᅞvč(VJME 8BSTĎ֥ᇏݓնື၂ᄎႏഅb ୍ ᄅֻࣴӬ൧აݢݓᇷህြႳ༤षؿഅຩᨆ܄ඳč8FC[FO *ODĎղӮླྀၰđӮູն % ؟ದᄝཌ࢘ϲဆႳ༤č..031(Ďu4PVM PG UIF 6MUJNBUF/BUJPOvč46/Ďᄝᇏݓ֥ື၂ᄎႏഅb ୍ ᄅֻࣴӬ൧ֻ၂ॻ৫ሱᇶषؿ֥൮ॻݓӁޘϱൔຩႳ༤uॹু༆Ⴓvཋਈ܄षҩ൫b ୍ ᄅuଊ൵ൗࢸvᄝᇏݓնֹᆞൔषഅြ߄ᄎႏb ୍ ᄅuଊ൵ൗࢸvč8PSME PG 8BSDSBGUĎಆ૫܄षҩ൫b ୍ ᄅֻࣴӬ൧ᆞൔ࿆҃đაॖ१ॖুᇏݓࡹ৫ᅞ৳ૐކቔࠄϴܱ༢b ୍ ᄅֻࣴӬ൧దჿ৯ൈॢđ౼֤ຩႳ༤uᇀቍvᄝᇏݓնֹ֥ᄎႏಃb ୍ ᄅčૅݓת҆ൈࡗ ᄅ ರĎ ֻࣴӬ൧ᄝବථղक़ᆞൔܫஇđܢௐսo/$5:pb ୍ ᄅoֻࣴӬ൧pսuሜᄀᆭࡴvč(SBOBEP &TQBEBĎbᆃ൞၂ॻႮݢܻೈࡱೆ ၡऍሧđ30 ᆭڳࣁ࿐݀ਵ༵֥*.$ (BNFT षؿ֥ຩႳऍቔb ୍ ᄅᅞᇿሧଢѓೈࡱčКࣘĎႵཋ܄ඳđ఼൝ࣉफݓӁຩႳ༤֥ሱᇶؿਵთb ୍ ᄅ ֻࣴӬ൧ࠢაົຫְč7JWFOEJ 6OJWFSTBMĎఋ༯֥В࿒ুč#MJ[[BSE&OUFSUBJONFOUĎదඇᇏݓᅞކቔླྀၰđֻࣴӬ൧౼֤ൗࢸפࠩຩႳ༤uଊ൵ൗࢸvč8PSME PG 8BSDSBGUĎᄝᇏݓնֹࡅսᄎႏಃb ୍ ᄅᄝ čᇏݓቋႵ႕ཙ৯֥ຩႳ༤ህြሧധຩᅟĎᇏݓຩႳ༤൧ӆ טҰᇏđuఅࠖvč.6ĎЇপਔ෮Ⴕ ཛஆྛϼֻ֥၂đӮູᇏݓնທࡅቋ༟ߋ֥ຩႳ༤b ୍ ᄅuఅࠖvč.6Ďषᆞൔഅြ߄ᄎႏđႳ༤ᇿҨႨၘࣜղ֞ ຣđൈᄝཌದඔղ֞ ຣb ୍ ᄅ ֻࣴӬ൧ࠢაݢݓ8FC[FO ܄ඳކቔđӮູຩႳ༤uఅࠖv .6
ᄝᇏݓֹ֥ࡅսᄎႏഅb ୍ ᄅ ᄝᇏݓ৳ຩࠏܒᇏݓ৳ຩᇏྏč$//*$Ďቆᆮ֥ ୍ᇏݓ৳ຩט ҰᇏđֻࣴӬ൧ࠆ֤ুྟຩᅟஆֻ၂֥უb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ୍ ᄅ ֻࣴӬ൧ڿϱđᆞൔ۷ູğXXX UIF DPN b ୍ ᄅ ֻࣴӬ൧భദ(BNFOPX ᆞൔԛđ ݓଽֻ၂۱ຩྴഠXXX HBNFOPX DPN Ӯ৫bCopyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 2. Бۡᅋေ ୍؇ҍༀᅋေ ୍ಆ୍ᇏđֻࣴӬ൧֥࣪ႏ൬б ୍؇֥ ၡჭದлᄹӉਔ ᇀ ၡჭದлb ୍ֻࣴӬ൧࣪ႏ൬حᇶေটჷႿuଊ൵ൗࢸv֥࣪ႏ൬đఃᇏ ୍ֻඹ࠱؇đটሱႿuଊ൵ൗࢸv֥࣪ႏ൬ֻؓࣴӬ൧࣪ႏ൬֥܊ངູ b ֻࣴӬ൧֥ર০حՖ ୍षđԛགྷਔࢠॹᄹӉđ ୍ಆ୍đર০Ֆ ୍֥ ၡჭದлᄹᇀ ၡჭದл ୍ಆ୍đֻࣴӬ൧࣪০܋࠹ ၡჭದлđб ୍֥ ຣჭದлᄹӉਔ
ֻࣴӬ൧Ֆ ୍षႮሇູ႔০đ ୍ ᄅuଊ൵ൗࢸv֥ᆞൔᄎႏđֻࣴӬ൧֥ႏ൬ࢲܒؿളਔࢠնڿэ ୍֥ᄎႏषᆦٮႨ܋࠹ ၡჭದлđб ୍֥ ၡჭದлᄹӉਔ ୍ֻࣴӬ൧ૄܢ"%4൬ၭՖ ჭശᇀ ჭđุགྷԛֻࣴӬ൧఼࣑֥႔০ି৯b ֻࣴӬ൧ ୍षđ܄ඳ֥ႏ൬ܒӮؿളਔࢠնэ߄đᆃᇕ൝ᄝ ୍ֻࣴӬ൧ႏ൬ܒӮᇏࣉ၂ุ҄གྷb ๙ݖ۵ഹնຩބຩၞਆࡅ܄ඳܱႿ ୍۲࠱؇ຩႳ༤ႏ൬౦ঃ֥бࢠؿགྷğֻࣴӬ൧۲࠱؇ຩႳ༤ႏ൬ӯഈശ൝đႏ൬ܿଆૼཁ֮Ⴟഹնބຩၞਆࡅ܄ඳđൈॉ੮ֻ֞ࣴӬ൧ॖӻ࿃ؿᅚၛࠣҍༀڄག֩ٚ૫đֻࣴӬ൧ႋᇯ҄ڿэֆՂ၇ौ၂ॻႳ༤႔০֥अ૫b ୍ֻඹ࠱؇ҍༀᅋေ Ֆ ୍۲࠱؇࣪ႏ൬ح౦ঃॖၛؿགྷđ࣪ႏ൬حᆜุӯഈശ൝đֻ࠱؇࣪ႏ൬ᄹӉੱԛགྷਔ༯߁đֻඹ࠱؇ᇏđֻࣴӬ൧࣪൬ೆູ ၡჭದлđб ୍ֻ࠱؇ބ ୍௹ٳљᄹӉਔ ބ b ୍ֻࣴӬ൧۲࠱؇ર০ሹุՖഈശ൝đֻ࠱؇ર০ᄹӉੱԛགྷਔ༯߁đֻඹ࠱؇ર০ ၡჭđбഈ၂࠱؇ഈശਔ ୍ֻࣴӬ൧۲࠱؇࣪০ሹุӯഈശ൝đᄝֻ࠱؇ԛགྷ༯߁ֻඹ࠱؇࣪০ູ ၡჭದлđбభ၂࠱؇֥ ຣჭದлᄹӉਔ đбಀ୍௹֥ ຣჭದлᄹӉ 2006୍ֻࣴӬ൧۲࠱؇ᄎႏᆦԛӯᄹӉ൝đֻඹ࠱؇ᄎႏषᆦٮႨູ5470ຣჭದлđбభ၂࠱؇֥4460ຣჭದлᄹӉਔ23%đбಀ୍௹֥4470ຣჭದлᄹӉਔ22%b Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧࣪ႏ൬حҍༀٳ༅ ֻࣴӬ൧ ୍࣪ႏ൬حҍༀٳ༅ ୍ಆ୍ᇏđֻࣴӬ൧֥࣪ႏ൬б ୍؇֥ ၡჭದлᄹӉਔ ᇀ ၡჭದлb࣪ႏ൬б ୍ᄹӉᇶေ൞ၹູᄝ ୍uଊ൵ൗࢸvႳ༤ᄎႏਔ၂୍ൈࡗđطᄝ ୍ࣇᄎႏਔնჿ۱ᄅb ਸ਼ຓğ ୍ಆ୍đֻࣴӬ൧টሱႳ༤ᄎႏᆦӻaຩᅟࢳथٚσၛܼ֥ࠣۡર൬ೆ܋࠹ ຣჭದлđб ୍؇֥ ຣჭದл༯ࢆਔ bᆃ၂༯ࢆᇶေ༢ၹuఅࠖvႳ༤൬ೆ༯ࢆ෮ᇁb ఃર൬ೆᇶေЇওuଊ൵ൗࢸvႳ༤ཌྷܱഅބνልЇ֥ཧ൲൬ೆb ୍ಆ୍đఃર൬ೆՖ ୍؇֥ ຣჭದл༯ࢆਔ ᇀ ຣჭದлđᆃ၂༯ࢆᇶေ༢ၹuଊ൵ൗࢸvႳ༤νልЇ֥ཧ൲൬ೆ༯ࢆ෮ᇁb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧ ୍۲࠱؇࣪ႏ൬حҍༀٳ༅ Ֆ ୍۲࠱؇࣪ႏ൬ح౦ঃॖၛؿགྷđ࣪ႏ൬حᆜุӯഈശ൝đֻ࠱؇࣪ႏ൬ᄹӉੱԛགྷਔ༯߁đᆃᇶေ൞ႮႿหקڛༀఖᆜކ֝ᇁڛༀఖ๔ࠏൈࡗᄹࡆđၛࠣྍଽಸശࠩӾb ऎุটुğ ֻ၂࠱؇࣪ႏ൬ູದл ၡჭđაഈ၂࠱؇ࠎЧӻb ֻؽ࠱؇ሹ࣪ႏ൬ູದл ၡჭđбഈ၂࠱؇֥ದл ၡჭᄹӉ b ֻ࠱؇࣪ႏ൬ູದл ၡჭđбഈ၂࠱؇༯߁ đбಀ୍௹ᄹӉ Ġֻ࠱؇ࣜႏ൬ᄹӉੱԛགྷਔ༯߁đᆃᇶေ൞ႮႿหקڛༀఖᆜކ֝ᇁڛༀఖ๔ࠏൈࡗᄹࡆđၛࠣྍଽಸശࠩӾbਸ਼ຓᆴ֤ᇿၩ֥൞ğֻࣴӬ൧ֻ࠱؇Ⴓ༤ᄎႏᆦӻaຩᅟࢳथٚσၛܼࠣۡႏ൬ູದл ຣჭđбഈ၂࠱؇֥ದл ຣჭᄹӉ bֻࣴӬ൧Ⴓ༤ᄎႏᆦӻaຩᅟࢳथٚσၛܼࠣۡႏ൬֥ᄹӉđᇶေ֤ၭႿหקඌᆦӻڛༀջট֥ႏ൬b ֻඹ࠱؇ᇏđֻࣴӬ൧࣪൬ೆູ ၡჭದлđб ୍ֻ࠱؇ބ ୍௹ٳљᄹӉਔ ބ b ୍ֻඹ࠱؇đ࣪൬ೆᇶေ֤ၭႿuଊ൵ൗࢸvႳ༤֥ᄎႏđఃᇏЇওႳ༤ൈࡗaഅཧ൲ࠣఃཌྷܱ൬ೆᄝଽđᆃུ൬ೆ܋࠹ູ ၡჭದлb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 uଊ൵ൗࢸv࣪ႏ൬ҍༀٳ༅ ۴ऌ ୍۲࠱؇uଊ൵ൗࢸv൬ೆحაֻࣴӬ൧࣪ႏ൬ح֥бࢠؿགྷğֻࣴӬ൧࣪ႏ൬حᇶေটჷႿuଊ൵ൗࢸv֥࣪ႏ൬đఃᇏ ୍ֻඹ࠱؇đটሱႿuଊ൵ൗࢸv֥࣪ႏ൬ֻؓࣴӬ൧࣪ႏ൬֥܊ངູ b ᆴ֤ᇿၩ֥൞ğॉ੮ֻ֞ࣴӬ൧֥ॖӻ࿃ྟؿᅚބҍༀڄགđֆ၂Ⴓ༤֥႔০ଆൔႋھᇯ҄ሇэb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧ႏ൬ܒӮҍༀٳ༅ ۴ऌ ୍ֻࣴӬ൧ႏ൬ܒӮ֥ᅦіॖၛؿགྷđֻࣴӬ൧ ୍षđ܄ඳ֥ႏ൬ܒӮؿളਔࢠնэ߄đ ୍ႏᄎᆦӻđຩᅟࢳथٚσܼ֥ࠣۡႏ൬ᅝሹႏ൬֥ đఃՑ൞ᅝ ֥؋ྐڛༀđຩႳ༤ڛༀࣇࣇᅝሹႏ൬֥ đطᄝ ୍ֻࣴӬ൧֥ႏ൬ܒӮᇏđຩႳ༤ڛༀ֥ႏ൬ᅝሹႏ൬֥ đطႏᄎᆦӻđຩᅟࢳथٚσܼࠣۡ֩ႏ൬ᅝሹႏ൬֥б২նږ؇ࡨഒđᆃᇕ൝ᄝ ୍ֻࣴӬ൧ႏ൬ܒӮᇏࣉ၂ุ҄གྷbᆃіૼֻࣴӬ൧֥ࣜႏؿᅚᅞؿളਔࢠնڿэb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧ႏᄎᆦԛҍༀٳ༅ ֻࣴӬ൧ ୍ႏᄎᆦԛ౦ঃ Ֆ ୍ֻࣴӬ൧୍ᄎႏᆦԛح౦ঃॖၛुԛđֻࣴӬ൧ᄎႏᆦԛӯགྷഈശ൝đ ୍षႭູૼཁđႮ ୍ದл ຣჭഈശᇀ ୍ ၡჭದлđᇶေ൞ႮႿֻࣴӬ൧ႏ൬ࢲܒ֥ڿэބuଊ൵ൗࢸv֥ೆᄎႏ෮ᇁbൈᇿၩđᄎႏᆦԛ֥ᄹӉੱႮ ୍ ༯ࢆᇀ b ୍֥ᄎႏषᆦٮႨ܋࠹ ၡჭದлđб ୍֥ ၡჭದлᄹӉਔ bᆃ၂ᄹӉᇶေ༢ၹჴ۽ඔਈᄹࡆaܢௐࢂৣٮႨ֥ᄹࡆႄఏሹༀބྛᆟܵषᆦٮႨᄹӉ෮ᇁb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧ ୍؇۲࠱؇ႏᄎᆦԛ౦ঃ Ֆ ୍ֻࣴӬ൧۲࠱؇ᄎႏᆦԛ౦ঃॖၛुԛđ۲࠱؇ᄎႏᆦԛӯᄹӉ൝đطֻ࠱؇ֻࣴӬ൧֥ᄎႏᆦԛԛགྷ༯ࢆđᇶေ൞ႮႿֻࣴӬ൧۴ऌuଊ൵ൗࢸvྍଽಸശ֥ࠩӾטᆜਔཧ൲ބႏཧ࠹߃đህြڛༀٮႨ֥ࡨഒđၛࠣؓሹༀބྛᆟᆦԛ॥ᇅ֥ᄹ఼b ऎุটඪğ ֻ၂࠱؇ᄎႏᆦԛູದл ຣჭđбഈ၂࠱؇֥ದл ຣჭ༯߁ bֻࣴӬ൧ᄎႏᆦԛ֥ࡨഒđᇶေႮႿཧ൲ބႏཧᆦԛ֥Ⴈ۷ऎᆌؓྟđၛࠣഈ၂࠱؇ᄎႏᆦԛᇏ࠹ೆਔหק֥ሹༀބྛᆟᆦԛđ҂ݖӁषؿᆦԛބܢಃࢂৣᆦԛႵ෮ᄹࡆb ֻؽ࠱؇ᄎႏᆦԛູದл ຣჭđбഈ၂࠱؇֥ದл ຣჭᄹӉ bᄎႏᆦԛ֥ᄹӉđᇶေႮႿཧ൲ބႏཧᆦԛၛࠣሹༀބྛᆟᆦԛᄹࡆb ֻ࠱؇ᄎႏᆦԛູದл ຣჭđбഈ၂࠱؇֥ದл ຣჭ༯߁ bֻࣴӬ൧ᄎႏᆦԛ֥ࡨഒđᇶေႮႿֻࣴӬ൧۴ऌuଊ൵ൗࢸvྍଽಸശ֥ࠩӾטᆜਔཧ൲ބႏཧ࠹߃đህြڛༀٮႨ֥ࡨഒđၛࠣؓሹༀބྛᆟᆦԛ॥ᇅ֥ᄹ఼b ֻඹ࠱؇ᄎႏषᆦٮႨູ ຣჭದлđбభ၂࠱؇֥ ຣჭದлᄹӉਔ đбಀ୍௹֥ ຣჭದлᄹӉਔ bᆃ၂ᄹӉᇶေႮႿֻࣴӬ൧ᄝᇏݓնֹሙСᄎႏuࠗᅞvႳ༤ࠣuఅࠖൗࢸvႳ༤ཌྷܱ֥ཧ൲ބ൧ӆႏཧषᆦٮႨᄹࡆၛ୍ࠣᇔཌྷܱ֥ჴ۽ሧࣁᄹࡆႄఏ֥ሹༀބྛᆟܵषᆦٮႨᄹࡆ෮ᇁb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧ર০a࣪০ࠣૄܢ"%4൬ၭҍༀٳ༅ ֻࣴӬ൧ર০ҍༀٳ༅ ֻࣴӬ൧ ୍ર০౦ঃ Ֆ ୍ֻࣴӬ൧ર০ح౦ঃॖၛुԛđֻࣴӬ൧֥ર০حՖ ୍षđԛགྷਔࢠॹᄹӉđᄹӉ֥ᇶေჰၹ൞ğ ୍ ᄅଊ൵ൗࢸ֥ᆞൔᄎႏb ୍ಆ୍đર০Ֆ ୍֥ ၡჭದлᄹᇀ ၡჭದлđᆃ၂ᄹӉᇶေၹູಆ୍টሱႿuଊ൵ൗࢸvႳ༤൬ೆ֥ᄹӉ෮ᇁb ਸ਼ຓğ ୍ಆ୍֥ః০္б ୍ ຣჭದлᄹӉਔ ᇀ ຣჭದлbᄝ ୍ᇏđֻࣴӬ൧෮൬ֹ֥֞֒ᆟکҀ์ູ ຣჭದлđط ୍֥ᆃ၂Ҁ์ࣇູ ຣჭದлb Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧ ୍؇۲࠱؇ર০౦ঃ ۴ऌ ୍ֻࣴӬ൧۲࠱؇ર০౦ঃॖၛुԛđ۲࠱؇ર০ሹุՖഈശ൝đֻ࠱؇ર০ᄹӉੱԛགྷਔ༯߁đᇶေႮႿ࣪ႏ൬Ⴕ෮ࡨഒđطหקܥקᆦԛđೂڛༀఖᅼࣸa৳ຩඔऌᇏྏሿࣁၛࠣྙሧӁขཧѩીႵཌྷႋࡨഒb ऎุটඪğ ֻ၂࠱؇ર০ູ ຣჭದлđбഈ၂࠱؇֥ದл ຣჭႵ༯߁bᇶေ൞ႮႿ࣪ႏ൬აഈ၂࠱؇ࠎЧӻđ ୍ ᄅषഡਔֻੂ۱uଊ൵ൗࢸvڛༀఖᅟׄđՖطڛༀఖᅼࣸބ৳ຩඔऌᇏྏሿႨ෮ջট֥ᆰࢤᆦԛႵ෮ᄹࡆb ֻؽ࠱؇ર০ູದл ၡჭđбഈ၂࠱؇֥ದл ຣჭᄹӉਔ bᄹӉᇶေ൞ၹູหקڛༀᆦԛ֥ܿଆིႋđ২ೂڛༀఖᅼࣸđ৳ຩඔऌᇏྏሿࣁၛࠣྙሧӁขཧđᆃུᆦԛ֥ᄹӉ؇֮Ⴟ࣪ႏ൬֥ᄹӉ؇b ֻ࠱؇ર০ູದл ၡჭđбഈ၂࠱؇֥ದл ၡჭ༯߁ b༯߁ᇶေ൞ႮႿ࣪ႏ൬Ⴕ෮ࡨഒđطӮЧѩીႵཌྷႋ֥ࡨഒb ֻඹ࠱؇ર০ ၡჭđбഈ၂࠱؇ഈശਔ b Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧࣪০ҍༀٳ༅ ֻࣴӬ൧ ୍࣪০౦ঃ Ֆ ୍ֻࣴӬ൧࣪০ح౦ঃॖၛुԛđֻࣴӬ൧Ֆ ୍षႮሇູ႔০đ ୍֥࣪০حູ ຣჭದлđ ୍༯߁ᇀ ຣჭದлđႮႿ ୍ ᄅuଊ൵ൗࢸv֥ᆞൔᄎႏđֻࣴӬ൧֥ႏ൬ࢲܒؿളਔڿэđ০ᄹᇀ ຣჭದлđ ୍ಆ୍đֻࣴӬ൧࣪০܋࠹ ၡჭದлđб ୍֥ ຣჭದлᄹӉਔ Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧ ୍۲࠱؇࣪০౦ঃ ۴ऌ ୍ֻࣴӬ൧۲࠱؇࣪০֥౦ঃđֻࣴӬ൧۲࠱؇࣪০ሹุӯഈശ൝đᄝֻ࠱؇ԛགྷ༯߁đᆃᇶေ൞ႮႿ࣪ႏ൬Ⴕ෮ࡨഒđطӮЧѩીႵཌྷႋ֥ࡨഒ෮ᇁb ऎุটुğ ֻ၂࠱؇࣪০ູದл ຣჭđбഈ၂࠱؇֥ದл ຣჭ༯߁ b൞ೂݔഈ၂࠱؇࣪০ᇏ҂࠹ೆՖֹ֒ᆟکࠆ֤֥ದл ຣჭ֥ҍᆟҀ์đၛࠣԛ൲ކሧ܄ඳ 8FC[FO ܢٺطࠆ֤֥ದл ຣჭሧ൬ၭđֻ၂࠱؇࣪০бഈ၂࠱؇ᄹӉ b ֻؽ࠱؇࣪০ູದл ຣჭđбഈ၂࠱؇֥ದл ຣჭᄹӉ bֻࣴӬ൧ֻؽ࠱؇࣪০ᇏ࠹ೆਔದл ຣჭ֥ܢಃࢂৣᆦԛđഈ၂࠱؇࣪০ᇏ࠹ೆਔದл ຣჭ֥ܢಃࢂৣᆦԛb҂࠹ೆՖֹ֒ᆟکࠆ֤֥ದл ຣჭ֥ҍᆟҀ์đֻࣴӬ൧ֻؽ࠱؇࣪০бഈ၂࠱؇ᄹӉ b ֻ࠱؇࣪০ູದл ຣჭđбഈ၂࠱؇֥ದл ຣჭ༯߁ bֻࣴӬ൧ഈ၂࠱؇Ֆֹ֒ᆟکࠆ֤ਔದл ຣჭ֥ҍᆟҀ์đ҂࠹ೆᆃ҆ٳ൬ၭđֻ࠱؇࣪০бഈ၂࠱؇༯߁ đᇶေ൞ႮႿ࣪ႏ൬༯ࢆطӮЧѩીႵཌྷႋ֥༯ࢆ෮ᇁb ֻඹ࠱؇࣪০ູ ၡჭದлđбభ၂࠱؇֥ ຣჭದлᄹӉਔ đбಀ୍௹֥ ຣჭದлᄹӉ b Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 ֻࣴӬ൧ૄܢ"%4൬ၭҍༀٳ༅ Ֆ ୍ֻࣴӬ൧ૄܢ"%4൬ၭ ౦ঃॖၛुԛđ ୍&1"%4ູ ჭđ ୍षđႮႿֻࣴӬ൧ܱႿuଊ൵ൗࢸv֥ᆞൔᄎႏđ܄ඳြࠛնږᄹӉđૄܢ"%4൬ၭᄝ ୍ശᇀ ჭđุགྷԛֻࣴӬ൧఼࣑֥႔০ି৯b Copyright © iResearch Inc. 2007
iResearch JIUCHENG Financial Research Report 2006 مੰലૼğ ЧБູۡηೋ൧ӆሦ࿘Ⴕཋ܄ඳᇅቔđБۡᇏ෮Ⴕ֥໓ሳaோaі۬न൳֞ᇏݓمੰᆩ്Ӂಃཌྷ่ܱ২֥ϱಃЌbીႵࣜݖЧ܄ඳ૫ྸॖđޅቆᆮބ۱ದđ҂֤ႨЧБۡᇏ֥ྐ༏ႨႿఃഅြଢ֥bЧБۡᇏ҆ٳ໓ሳބඔऌҐࠢႿ܄षྐ༏đ෮Ⴕಃູჰᇷᆀ෮ႵbીႵࣜݖჰᇷᆀބЧ܄ඳྸॖđޅቆᆮބ۱ದ҂֤ႨЧБۡᇏ֥ྐ༏ႨႿఃഅြଢ֥b ЧБۡᇏᄎႏഅ൬ೆࠣཌྷܱ൧ӆყҩᇶေູ܄ඳ࣮ჴҐႨྛြ٠ซa൧ӆטҰaؽ൭ඔऌࠣః࣮ٚمٳ༅ࠆ֤đ҆ٳඔऌໃࣜᄎႏഅᆰࢤಪॖbЧБۡᇏؿ֥҃טඔऌ҆ٳҐႨဢЧטٚمđఃඔऌࢲݔ൳֞ဢЧ֥႕ཙbႮႿטٚمࠣဢЧ֥ཋᇅđטҰሧਘ൬ࠢٓຶ֥ཋᇅđ҆ٳඔऌ҂ିܔປಆّ႘ᆇൌ൧ӆ౦ঃbЧБۡᆺิ܂۳ᇿҨग़ቔູ൧ӆҕॉሧਘđЧ܄ඳؓھБ֥ۡඔऌሙಒྟ҂ӵքمੰᄳb Copyright © iResearch Inc. 2007
