[Table MainInfo][Table Title] 2018 -02 25 -...
Transcript of [Table MainInfo][Table Title] 2018 -02 25 -...
[Table_MainInfo] [Table_Title]
/
[Table_Summary] 2017
30 52.5
2012 2018
1335 70 1341 6
2017
8
2018
1370 1389 19
2018 2018
26000 / 2017
24000 / 2018 26000 /
2018
15 5%
4600
17000 / 70%
4000 / 5000 20%
[Table_CompanyFinance]
EPS P/E
2016A 2017E 2018E 2016A 2017E 2018E
7.07 -0.41 0.23 0.31 -17.24 30.74 22.8
10.15 0.15 0.46 0.58 67.67 22.06 17.5
[Table_Invest]
[Table_PicQuote]
-16%
-7%
2%
11%
20%
2017/2
2017/3
2017/4
2017/5
2017/6
2017/7
2017/8
2017/9
2017/1
0
2017/1
1
2017/1
2
2018/1
[Table_Trend] % 1M 3M 12M
-4.73% -2.51% 2.42%
1.81% 1.62% -13.72%
[Table_IndustryMarket]
123
17874
12835
50.02
2.64
12489
257
% 56.30
[Table_Report]
2018-02-11
2018-02-04
2018-01-28
2018-01-22
[Table_Author]
S0550511020007
17621255426 [email protected]
2018-02-25
2 / 36
[Table_PageTop]
1. 2015 ......................................... 6
2. ..................................................................... 8
2.1. ...............................................................8
2.2. 2018 ................................10
2.3. .............................17
2.4. .................................................................21
2.5. .........................................................22
2.6. .........................................................................23
3. ....................................................................... 28
4. ............................................................... 30
5. ............................................................................................. 32
5.1 ......................................................................................................................32
5.2 ......................................................................................................................33
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[Table_PageTop]
1 % ................................................................................. 7
2 2015-2017 .................................................................................................................. 8
3 2017 ................................................................................................................ 9
4 2017 1-10 ................................................................................................ 9
5 ........................................................................ 10
6 ........................................................................ 10
7 ........................................................................................................11
8 15 ................................................................................................11
9 2015 ........................................................................ 12
10 1-11 2% ..................................................................................... 14
11 1-11 4.02%................................................................................. 14
12 ( ) ....................................................................... 15
13 ...................................................................................................... 15
14 1-12 21.75%............................................................................... 17
15 / TC........................................................................................................................ 17
16 2017 .......................................................................................... 18
17 1-11 0.54%................................................................................. 18
18 1-10 2.25% ....................................................................................... 19
19 ............................................................................................... 20
20 1-12 59.34%............................................................................... 20
21 ................................................................................................................ 20
22 LME .................................................................................................................. 21
23 SHFE .................................................................................................................... 21
24 ................................................................................................................ 22
25 ................................................................................. 22
26 ................................................................................. 22
27 ........................................................................................ 23
28 1-11 0.10%................................................................................. 23
29 ............................................................................................... 24
30 ( ) ................................................................................................. 24
31 ................................................................................................................. 25
32 .......................................................................................................... 25
33 2016 ..................................................................................... 26
34 ..................................................................................... 26
35 ................................................................................ 26
36 ..................................................................................... 27
37 8% ................................................................................................ 27
38 16% ........................................................................................ 27
39 ....................................................................................................... 27
40 2008-2010 ....................................................... 28
41 2015 -2017 ............................................................. 28
4 / 36
[Table_PageTop]
42 ........................................................................................................................ 29
43 2004-2007 ...................................................................................... 31
44 2009-2010 ...................................................................................... 31
45 ................................................................................................... 32
5 / 36
[Table_PageTop]
1 2015-2016 ....................................................................................... 6
2 2017 2-4 ................................................................................. 7
3 ................................................................................................................. 8
4 ..................................................................................................................... 9
5 ..................................................................................................................... 9
6 2017 ............................................................................................. 10
7 .......................................................................................... 12
8 2015 10 ........................................................... 13
9 ................................................................................................. 13
10 .......................................................................... 13
11 2017-2018 ....................................................................... 15
12 2016-2018 .......................................................................................... 16
13 2017 ...................................................................... 19
14 2017 5 .......................................................................... 19
15 2017 10 .................................................................... 20
16 2016-2020 ........................................................................ 21
17 ................................................................................. 22
18 2017 ...................................................................................................... 24
19 2017 ......................................................................................................... 25
20 2014 .................................................................. 29
21 ................................................................................................ 30
22 .......................................................................................................... 30
23 LME ......................................................................................... 31
24 2018 2 21 .................................... 32
6 / 36
[Table_PageTop]
1. 2015
2015 Lisheen
Duck Pond 51.8
2014 2015
2015
2015
1 2015-2016
century 51
Yukon Wolverine 6
Vandata Lishen 17.5
Naica Naica 2.3
pallca 1.5
Teck
red dog 4.5
Duck poud 2.5
Antamina 3.5
Nystar
Middle Tennessee 2.5
Campo Morado 2.5
Myra Falls 3
Mount Isa
42
Mcarthur River
Iscaycruz
Kazzinc 5
143.8
2016
2016 50 Trecora 4.6 54.6
3.5%
5000 / 2016 2015
11
2016
LME
63.91%
7 / 36
[Table_PageTop]
1 %
Bloomberg
2015 2016 2017
2017 LME 3288.5 /
2892.54 / 28.96% 2017 25655
/ , 23604 / 21.39% 2016
2017
2 2017 2-4
( )
2-4
( )
3 1 26500 7000 30
3 25 15 15000 3000 24
3 24 23000 7000 30
3 22 4 20-30 ( 17000 6000 20
4 19000 7000 20
4 15 7000 3000 9
2 1 7000 10000 12
2 40000 25000 50
2 18 1 2000 3000 2
2016 12 10500 12000 12.5
2 8000 10000 10
2016 11 4500 3500 6
4 1 20000 7000 25
3 1 2000 7000 25
3 2 1000 2000 6
8 / 36
[Table_PageTop]
3
2016 7 14 8 16
2016 11 24 12 30
2017 4 24 5 28
2017 8 7
2 2015-2017
Wind
2.
2.1.
6400
4100 2017
430
831.7 2017
1328 580 2017
1382.3 663
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[Table_PageTop]
3 2017 4 2017 1-10
18%
28%
12%4%
6%
32%
Wind Wind ILZSG
2017 30
52.5 8.8 16
2016
2017
4
2015 2016 2017e 2018f
1278.1 1208 1265 1335
1329.2 1298.6 1295 1341.2
-51.1 -90.6 -30 -6.2
2015 2016 2017e 2018f
1365.6 1337.6 1330 1370
1357.6 1369.9 1375.3 1389
8 -32.3 -45.3 -19
5
2015 2016 2017e 2018f
425 440 430 445
564.9 569.1 563.8 579.8
161.4 99.7 125 130
21.5 -29.4 -8.8 -4.8
2015 2016 2017e 2018f
586 590 580 600
628 657 661 665
55.6 50.5 65 60
13.6 -16.5 -16 -5
10 / 36
[Table_PageTop]
5 6
0
10
20
30
40
50
60
2017-01 2017-02 2017-04 2017-06 2017-07 2017-08 2017-09 2017-10
-15
-10
-5
0
5
10
15
20
25
30
35
40
2017-02 2017-03 2017-06 2017-07 2017-08 2017-09 2017-10
ILZSG ILZSG
2.2. 2018
6 2017
Rampura-
Agucha
2018 3
2030
2020 2018 3
2019 3
Red Dog 1989-2032
Mount lsa Black Star 2016
Lady Loretta: 2021
George Fisher: 2029
George Fisher Black Star Lady Loretta
Lady Loretta 2017 12 14 Black
Star 2016 9 George Fisher
McArthur
River
2043
2034
Antamina 2001-2029
Goldcorp Penasquit
o
2009-2029
2019
SMM)
San
Cristobal
2007-2024
Cerro
Lindo
2007-2028
Dugald 2013-2040 Dugald River 34
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[Table_PageTop]
River Dugald River
Gamsberg 13 Gamsberg 13 2018
9-12 25
Lisheen
7
109
89
66
33
27 26 2522
15 14 12 107
0
20
40
60
80
100
120
8 15
1458
1203
1064
946
764
551512 489
365 350 344295 265 263 246
Ram
pu
ra A
gu
cha
(Hin
dust
an Z
inc
Ltd
)
Red
Do
g (
Tec
k)
Mt.
Isa
Zin
c
(Gle
nco
re)
Tay
lor
(Ari
zon
a)
San
Cri
stobal
(Sum
itom
o C
orp
)
Gam
sber
g
(Ved
anta
)
McA
rthur R
iver
(Gle
nco
re)
Yau
li (
Volc
an)
Bis
ha
(Nev
sun
Rsr
c L
td)
Dugal
d R
iver
(MM
G)
Tar
a (B
oliden
)
Bro
ken
Hil
l
(Zh
on
gji
n L
ing
nan
)
Zin
kg
ruv
an
(Lu
nd
in M
inin
g)
Chungar
(V
olc
an)
Sk
orp
ion
(Ved
anta
Ltd
)
Taylor 2020
SNL Metals & Mining
12 / 36
[Table_PageTop]
+
35% 10% 9%
Black Star 2016
12 Iscaycruz 2015
2-3 2014 8.77% 2015 4.9% Aguilar
IIIapa 2-5
9 2015
9%
6.61% 5.76%
29.53%
0%
5%
10%
15%
20%
25%
30%
35%
7
2016
Kazzinc 69.7% 373 5-20
Mount Isa
Black Star Open Cut 100% 0 0
George Fisher 100% 526 20
Lady Loretta 100% 111 10
McArthur River 1100 27
Kidd Creek 100% 34 5. 3
Matagami Bracemac-McLeod 100% 27 17
Los Quenuales Iscaycruz 97.6% 3 2-3
Yauliyacu 97.6% 17 3-4
IIIapa Bolivar 45% 16 2. 5
Porco 45% 4 2. 5
Sinchi Wayra Caballo Blanco 100% 3
Aguilar 100% 11 3
Perkoa 90% 38 5
Rosh Pinah 80.1% 45 7. 6-7. 8
2011-2015
A
2015 24.86% 67600
13 / 36
[Table_PageTop]
139.30%
Cosmos Tampakan Falcondo
Sipilou Katanga Mopani 18
Eland 2015 10 9 50
4% 2017 12
2018 Lady Loretta 2018
109 3 2018
2017 8
Trevali Mining Trevali 25%
2018
9
8 2015 10
George Fisher 24.5
Lady Loretta Mt lsa
McArthur River 13.5
Kazznic 8 Iscaycruz
50
9
2014 138.7
2015 144.5
2016 109.4
2017 109.0
2018 109 3
10
2017 2016
Kazzinc 21.05 18.76 12.21%
Australia(Mount Isa, McArthur River) 43.6 48.84 -10.73%
North America(Matagami, Kidd) 12.37 13.01 -4.92%
South America(Argentina, Bolivia, Peru) 9.98 9.9 0.81%
Africa(Rosh Pinah, Perkoa) 9.21 12.22 -24.63%
96.21 102.73 -6.35%
ILZSG 1-11 1205 2%
Rampura Agucha 2016 Bisha
2016 2017 Antamina
2017
14 / 36
[Table_PageTop]
10 1-11 2%
-10%
-5%
0%
5%
10%
15%
20%
0
20
40
60
80
100
120
140
1 2 3 4 5 6 7 8 9 10 11
2016 2017
ILZSG
60%
2017 2017 1-11
464 4.02%
11 1-11 4.02%
-30%
-20%
-10%
0%
10%
20%
30%
40%
0
10
20
30
40
50
60
70
1 2 3 4 5 6 7 8 9 10 11
2016 2017
ILZSG
4-7
4-7
2012 2018
15 / 36
[Table_PageTop]
12 ( )
-40%
-20%
0%
20%
40%
60%
80%
0
200
400
600
800
1000
1200
1400
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
%
Bloomberg
13
&
&
1 5 6 72 43
Arizona Mining
2018 2017
67.6
22.1 18.1 6 5.3
11.2
2017 1265
2015 2018
2018 1335
11 2017-2018
2017 2018
Lady Loretta Mineral Securities 4.7 3 4.7
Naica Industrias Penoles 2.5 1 2.5
Olympias Eldorado Gold 2.0 0.9 1.5
16 / 36
[Table_PageTop]
Tlialanga Red River Resources 2.1 0.5 2.1
Halfinile Lake Trevali Mining 5.5 1 4
Middle Tennessee 5 3 5
Myra Falls 3 2 3
Mt Isa 24.5 8 24.5
McArthur River 13.5 4 13.5
Kazzinc 4 2 4
Iscaycruz 8 3 8
Pallca Santa Luisa 1 1 1
59 23 59
Gamsberg Vedanta 25 0 6
Dugald River 17 0 8
Hilarion Votorantim 25 0 5
Rey de Plata Industrias Penoles 3.4 0 2
Shalkiya Tau-Ken Samruk 12 0 4
82.4 0 25
2017
18.9
12 2016-2018
2016 2017 2018
3 0 2 1
2 0 0 2
3 0 2 1
0.5 0 0.4 0.1
0.7 0 0.2 0.5
17 5 6 6
0.9 0 0.8 0.1
7 3 4 0
10 0 2 8
3 0 1 2
1 0.5 0.5 0
48.1 8.5 18.9 20.7
2017 244.39 21.75%
2017
17 / 36
[Table_PageTop]
2017 12 3500 /
11 5900 / 10 400
/
12 12.5 /
TC
14 1-12 21.75% 15 / TC
-40%
-20%
0%
20%
40%
60%
80%
100%
120%
140%
160%
0
5
10
15
20
25
30
35
1 2 3 4 5 6 7 8 9 10 11 12
2016 2017
Bloomberg
2.3.
2017 1-11 1254
0.54% 1-10 40.5%
Rampura Agucha
2017
8
18 / 36
[Table_PageTop]
16 2017
20.9
42.9%
HZL
-7.6
-10.9%
11.8
10.8%
Cajamarquilla
-7.6
-11%
11.2
73.7%
1.5
14.6%
4.7
147.1%
17 1-11 0.54%
-4%
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
95
100
105
110
115
120
125
1 2 3 4 5 6 7 8 9 10 11
2016 2017
Wind ILZSG
2017 1-10 505.97
2.25% 2017
9
2017 5500 / 6300 /
19 / 36
[Table_PageTop]
2017 5 80% 2017 10
100%
18 1-10 2.25%
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
0
10
20
30
40
50
60
70
1 2 3 4 5 6 7 8 9 10
2016 2017
Wind ILZSG
13 2017
( / 2016 2017 %
92 70.6 63.5 -10.1
33 27.0 28.8 6.5
39 27.4 27.7 0.9
106 80.4 74.9 -6.8
74 57.2 63.0 10.2
40 25.6 23.7 -7.2
81 78.1 70.8 -9.3
43 40.5 41.3 2.0
30 20.2 21.0 4.1
43 29.2 30.9 6.0
10 3.8 5.7 47.9
10 9.8 11.0 12.6
10 10.0 10.3 3.2
611 479.9 472.8 -1.5
14 2017 5
( /
12 33% 7 5% +25% 3900-4000 25
44 81% 15% +85% 3900-4000 30
13.5 86% 3800-4000 30
6 80% 70% +30% 3900-4000 25
5 85% 3800-4000 30
15 71% 3800-4000 30
20 / 36
[Table_PageTop]
15 2017 10
( /
22 100% 40% +60% 4200-4300 ( 45
3.5 100% 2/3 4500-4600 ( 1
12.5 100% 30% +70% 4100-4200 ( 45
1.36 100% 4500-4600 ( 5000
9 100% 90% + 10% 1500-1600 ( 50
19
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
1 2 3 4 5 6 7 8 9 10 11 12
2015 2016 2017
2017 1-12 67.63 2016 59.34%
2017 7
20 1-12 59.34% 21
-100%
-50%
0%
50%
100%
150%
200%
250%
300%
350%
400%
450%
0
2
4
6
8
10
12
14
1 2 3 4 5 6 7 8 9 10 11 12
2016 2017
Wind Wind
2016 32 2017 15
2018-2020 105
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[Table_PageTop]
16 2016-2020
4 2016 9 6 2017
14 2016 10 4 2016 8 2017
60%
4 2016 5 6 10
2 2016 6
4 2016
4 2016 6 10
2016 32
10 2017 2017 152
5 2017 1#
2017 15
10 2018 - - -
15
10 112
10 2019 2017
10
10
20
20
2018-2020 105
2.4.
LME
2018 2 12 LME 15.70
2017 40 60.75% 2018 2 9 SHFE
9.83 2017 15.74 37.55%
22 LME 23 SHFE
0.00
500.00
1,000.00
1,500.00
2,000.00
2,500.00
3,000.00
3,500.00
4,000.00
0.00
100,000.00
200,000.00
300,000.00
400,000.00
500,000.00
600,000.00
0.00
5,000.00
10,000.00
15,000.00
20,000.00
25,000.00
30,000.00
0.00
50,000.00
100,000.00
150,000.00
200,000.00
250,000.00
300,000.00
Wind Wind
22 / 36
[Table_PageTop]
24
2.5.
ILZSG 2016 48.11%
2011
2016 3.23% ILZSG
2017 1-10 1.2%
2.9%
25 26
Wind Wind
17
2015 2016 2017f 2016 1-10 2017 1-10 %
1357.6 1369.9 1382.3 1154.3 1167.8 1.2
628 657 663 557.2 557.5 0.1
93.1 81.9 84 68 70 2.9
63.2 68.9 69.8 58.4 58.2 -0.3
58.6 62.2 62.9 52.2 52.4 0.4
47.9 47 48.2 38.8 40.2 3.6
47.8 48.1 46 40.4 38.3 -5.2
23 / 36
[Table_PageTop]
39.1 35 36 29.2 30 2.7
25.9 26.7 25.6 23.3 21.3 -8.6
23 23.4 26.6 19.5 22.2 13.8
22 22.4 22.2 18.7 18.5 -1.1
25.8 18.8 23 15.2 19.2 26.3
20.1 19.1 21.5 16.3 17.9 9.8
21.9 19.5 20.9 16.3 17.4 6.7
19 20.3 19.2 17.5 16 -8.6
18.2 18.5 18.8 15.4 15.7 1.9
14.8 16.2 22.2 18.7 18.5 -1.1
13.2 12.8 15 10.6 12.5 17.9
87.0% 87.4% 88.6% 88.0% 87.8% -
ILZSG
2.6.
2017 2017 1-11
616.60 0.10% 2017
0.61%
2016
57% 22% 9% 8% 4%
27 28 1-11 0.10%
-15%
-10%
-5%
0%
5%
10%
0
10
20
30
40
50
60
70
1 2 3 4 5 6 7 8 9 10 11
2016 2017
Bloomberg
2017 12 Mysteel 130
266 27 87.97%
68.3%
24 / 36
[Table_PageTop]
29
0%
10%
20%
30%
40%
50%
60%
70%
80%
17-1 17-2 17-3 17-4 17-5 17-6 17-7 17-8 17-9 17-10 17-11
30 ( )
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
0
50
100
150
200
250
300
350
1 2 3 4 5 6 7 8 9 10 11 12
2016 2017 %
Wind
2017 7
217 17 467 2017 2259.7
2018
18 2017
1 35 3
1 32 5
1 35 5
1 25 9
1 20 12
1 40 3
1 60 9
25 / 36
[Table_PageTop]
7 217
19 2017
1 45
1 20
1 45
1 25
1 20
30
1 35
1 30
1 30
1 30
1 30
1 30
1 32
1 20
1 20
1 25
17 467
31 32
0%
10%
20%
30%
40%
50%
60%
70%
1 2 3 4 5 6 7 8 9 10 11 12
2015 2016 2017
0%
10%
20%
30%
40%
50%
60%
70%
80%
1 2 3 4 5 6 7 8 9 10 11 12
2015 2016 2017
2016
45% 25% 23% 7%
26 / 36
[Table_PageTop]
7
33 2016
7%
23%
25%
45%
5 2017
2017 10.98
7% 1-12 17.3
14.93%
2017 2907.3 4%
2017 8670
13.6% 1.8 26.4%
7501 3.2%
34 35
0%
2%
4%
6%
8%
10%
12%
0
2000
4000
6000
8000
10000
12000
14000
2016 2017
0%
5%
10%
15%
20%
25%
0
5000
10000
15000
20000
25000
1-2 3 4 5 6 7 8 9 10 11 12
2016 2017
Wind Wind
27 / 36
[Table_PageTop]
36 37 8%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
0
50
100
150
200
250
300
350
2016 2017
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
10000
2016 2017
Wind Wind
38 16% 39
0%
5%
10%
15%
20%
25%
30%
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
20000
2016 2017
0%
1%
2%
3%
4%
5%
6%
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2016 2017
Wind Wind
2018 2018
26000 / 2017 24000 /
2018 26000 / 2008 2010
2008
2018
28 / 36
[Table_PageTop]
40 2008-2010
-4
-3
-2
-1
0
1
2
3
4
0
5000
10000
15000
20000
25000
08-10 09-01 09-04 09-07 09-10 10-01 10-04 10-07 10-10
1# /
Wind
41 2015 -2017
-3
-2
-1
0
1
2
3
4
0
5000
10000
15000
20000
25000
30000
15-01 15-04 15-07 15-10 16-01 16-04 16-07 16-10 17-01 17-04 17-07 17-10 18-01
1# ( / ) 1# /
2016 18.68
Wind
3.
29 / 36
[Table_PageTop]
42
15 50%
2017
5197 /
2016 25 9
1.82% - 7.4 9.83%
- 7.4 2.32%
20 2014
% 2.5 3 3.5 4 4.5 5
% 77 78 80 82 83 84
% 50 50 50 50 50 50
2887.5 3510 4200 4920 5602.5 6300
5775 7020 8400 9840 11205 12600
15 15 15 15 15 15
/ 74 74 74 74 74 74
1110.3 1110.3 1110.3 1110.3 1110.3 1110.3
825 825 825 825 825 825
600 600 600 600 600 600
173.25 210.6 252 295.2 336.15 378
2708.55 2745.9 2787.3 2830.5 2871.45 2913.3
/ 9380.26 7823.077 6636.429 5753.049 5125.301 4624.286
95%
1 1.05
30 / 36
[Table_PageTop]
1 220 1
250—330 70 55—65
60%
1750 40%
700 1
3700 0.45-0.505
1700-1900
1 300
1 500
600
21
70 700 1800 300 600 500 3970 5000 25.94%
5% 50%
2016 70.1%
6.45%
22
2016 2017H
48.65 5.88% 4.39%
21.79 10.05% 10.88%
4.26 6.07% 8.84%
12.98 20.62% 10.17%
20.20 11.13% 12.67%
27.60 15.21% 17.94%
6.83 20.98% 17.15%
42.04% 58.56%
70.10% 69.25%
77.27% 61.60%
78.35% 62.42%
44.69% 63.33%
4.
31 / 36
[Table_PageTop]
2004-2007 2009-2010
LME
15000 / 15000 /
16000 / 6.67%
1000 /
23 LME
2004-2007 2009-2010
0.1439 0.4401
0.1358 0.4209
0.0485 0.4173
0.2044 0.3695
0.0273 0.1763
-0.0333 0.0000
Wind
43 2004-2007 44 2009-2010
Wind Wind
32 / 36
[Table_PageTop]
45
0
5000
10000
15000
20000
25000
30000
15-01 15-04 15-07 15-10 16-01 16-04 16-07 16-10 17-01 17-04 17-07 17-10 18-01
1# /
Wind
24 2018 2 21
PE
/ 2.6 2.85 3.1 2.6 2.85 3.1 / 2 2.1 2.2 2 2.1 2.2 11.93 13.54 15.25 19.70 17.36 15.41
4.42 5.19 5.86 25.11 25.11 25.11
15.67 19.41 23.86 15.44 12.47 10.14
16.20 22.39 27.27 22.22 16.08 13.20
2004-2007
2009-2010
5.
5.1
97%
2016
35.73% 2017
33 / 36
[Table_PageTop]
52.2 16 36.2 2016
84.07% 100%
300
52.2 150 70 30 400
1000 2016
2.2% 1.7%
169.72 254.07 3241.69 11.85
246.68
2016
7.81 4.91 / 38.37
37.96 4.28
3.01 160kt/a 30.66
30.66 1
4.35% 1.33
2017 9 30 63.76%
57.18%
2017-2019 11.5 15.6 18.7 EPS
0.23 0.31 0.37 2018 2 22 PE 30.74 22.8 19.10
5.2
30
187.69 77.47 37.2 107.02 19.08 25.2
100%
2016 32.17
13.25 2016 22.77
2017 30.53
24.98 100%
2016
15.25 6.07
2.63 1.51
0.46
6000
60%
34 / 36
[Table_PageTop]
1100
2017-2019 10.85 13.92 15.58 EPS
0.46 0.58 0.65 2018 2 22 PE 22.06 17.5 15.62
35 / 36
[Table_PageTop]
Nanoscale JMC SCI
2
“ ”
R3 A B
AA ABS
“ ”
6 15%
6 5% 15%
6 -5% 5%
6 5% 15%
6 15%
6
6
6
36 / 36
[Table_PageTop]
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