{"id":5887,"date":"2010-06-05T12:03:00","date_gmt":"2010-06-05T12:03:00","guid":{"rendered":"http:\/\/www.fortunetimes.sg\/cn\/?p=5887"},"modified":"2010-06-05T12:03:00","modified_gmt":"2010-06-05T12:03:00","slug":"E5A682E4BD95E7AD9BE98089E9BE99E7ADB9E882A1EFBC9F","status":"publish","type":"post","link":"https:\/\/az.c.adneti.net\/cn\/?p=5887","title":{"rendered":"\u5982\u4f55\u7b5b\u9009\u9f99\u7b79\u80a1\uff1f"},"content":{"rendered":"

\n\t\u80a1\u5e02\u867d\u5df2\u5f00\u59cb\u6709\u597d\u8f6c\u7684\u8ff9\u8c61\uff0c\u4e0d\u8fc7\u8d77\u4f0f\u4ecd\u4e0d\u5b9a\uff0c\u8fc7\u7a0b\u4e2d\u4e5f\u5e26\u51fa\u4e86\u9f99\u7b79\u80a1\u524d\u666f\u7684\u9690\u5fe7\u3002\u76ee\u524d\uff0c\u5e02\u573a\u4eba\u58eb\u770b\u6cd5\u4e0d\u540c\uff0c\u5176\u4e2d\u4e00\u6d3e\u8ba4\u4e3a\uff0c\u4e0a\u6da8\u7684\u7a7a\u95f4\u6709\u9650\uff0c\u9f99\u7b79\u80a1\u5c06\u65e0\u6cd5\u56de\u590d\u52302007\u5e74\u5f53\u65f6\u7684\u8f89\u714c\u6c34\u5e73\uff1b\u4e5f\u6709\u5206\u6790\u5e08\u8ba4\u4e3a\uff0c\u9f99\u7b79\u80a1\u63a5\u4e0b\u6765\u5c06\u5faa\u5e8f\u6e10\u8fdb\uff0c\u968f\u7740\u5927\u5e02\u7684\u590d\u82cf\u6276\u6447\u76f4\u4e0a\u3002<\/strong><\/p>\n

\n\t      <\/span><\/span>\u81ea<\/span>2009<\/span>\u5e74\u5e74\u521d\u4ee5\u6765\uff0c<\/span>\u5df2\u6709\u591a\u53ea\u9f99\u7b79\u80a1<\/span>\u6682\u505c\u4ea4\u6613\uff0c\u968f\u7740\u66f4\u591a\u9f99\u7b79\u80a1<\/span>\u52a0\u5165\u6682\u505c\u4ea4\u6613\u7684\u884c\u5217\uff0c\u518d\u52a0\u4e0a\u6709\u5173\u9f99\u7b79\u80a1\u7684\u8d26\u76ee\u53ca\u4f01\u4e1a\u76d1\u7ba1\u504f\u4f4e\u7d20\u8d28\u7684\u95ee\u9898\u9891\u9891\u6d6e\u73b0\uff0c\u4f7f\u5f97\u8bb8\u591a\u6295\u8d44\u8005\u5bf9\u9f99\u7b79\u80a1\u7684\u4fe1\u5fc3\u53d7\u5230\u52a8\u6447\u3002<\/span><\/span><\/font><\/p>\n

\n\t     <\/span><\/span>\u8fd9\u4e48\u4e00\u6765\uff0c<\/span>\u591a\u6570\u4e2d\u5c0f\u578b\u9f99\u7b79\u80a1<\/span>\u7684\u4ea4\u6613\u91cf\u56e0\u6b64\u9510\u51cf\uff0c\u5373\u4f7f\u662f\u65b0\u80a1\u9762\u4e16\uff0c\u5305\u62ec\u7965\u9f99\u63a7\u80a1\uff08<\/span>Trump Dragon<\/span>\uff09\uff0c\u4e2d\u56fd\u9e4f\u6770\uff08<\/span>Zhongguo Pengjie<\/span>\uff09\uff0c\u4e5f\u90fd\u65e0\u6cd5\u6709\u6d3b\u8dc3\u7684\u4ea4\u6613\uff0c\u800c\u5411\u6765\u5728\u6d3b\u8dc3\u699c\u4e0a\u7559\u540d\u7684\u4e2d\u56fd\u9e3f\u661f\uff08<\/span>China Hongxing<\/span>\uff09\uff0c\u867d\u7136\u4e00\u76f4\u6709\u5927\u91cf\u4ea4\u6613\uff0c\u4f46\u662f\u80a1\u4ef7\u4f9d\u7136\u88ab\u6253\u538b\uff0c\u5f88\u96be\u7a81\u7834\u6bcf\u80a1<\/span>20<\/span>\u5206\u7684\u6c34\u5e73\u3002<\/span><\/font><\/p>\n

\n\t     <\/span>\u4e0d\u8fc7\uff0c\u80a1\u5e02\u4ece\u56db\u6708\u5e95\u8d77\u51fa\u73b0\u56de\u6696\u73b0\u8c61\uff0c\u5e26\u52a8\u4e86<\/span>beta<\/span>\u8f83\u9ad8\u7684\u9f99\u7b79\u80a1\u7684\u56de\u5f39<\/span>\uff1b\u4e00\u4e9b\u5e02\u503c\u9ad8\u3001\u8f83\u53d7\u77a9\u76ee\u7684\u4e2d\u8d44\u4f01\u4e1a\u7684\u80a1\u4ef7\u51fa\u73b0\u53ef\u89c2\u6da8\u5e45\uff0c\u4f8b\u5982\u4e2d\u8fdc\u6295\u8d44<\/span>(Cosco)<\/span>\uff0c\u4ec1\u6052\u7f6e\u5730<\/span>(Yanlord Land)<\/span>\uff0c\u4e2d\u56fd\u5fc3\u8fde\u5fc3<\/span>(China XLX)<\/span>\u7b49\u7b49\u3002\u4f46\u662f\uff0c\u867d\u7136\u80a1\u4ef7\u731b\u6da8\uff0c\u8fd9\u4e9b\u9f99\u7b79\u80a1\u7684\u80a1\u4ef7\u548c\u53bb\u5e74\u7684\u76f8\u6bd4\u4ecd\u7136\u5dee\u4e86\u4e00\u5927\u622a\u3002<\/span><\/font><\/p>\n

\n\t    <\/span>\u8bb8\u591a\u5728\u5f53\u521d\u4ee5\u9ad8\u4ef7\u4e70\u5165\u8fd9\u4e9b\u9f99\u7b79\u80a1\u7684\u6563\u6237\uff0c\u6709\u597d\u591a\u4ecd\u7136\u6301\u80a1\u5728\u624b\uff0c\u8d26\u9762\u4e0a\u7684\u635f\u5931\u5c11\u8bf4\u4e5f\u6709<\/span>50%<\/span>\u4ee5\u4e0a\uff0c\u8fd9\u4e9b\u4eba\u7684\u5fc3\u4e2d\u73b0\u5728\u6700\u60f3\u77e5\u9053\u7684\u662f\uff0c\u8fd9\u4e9b\u9f99\u7b79\u80a1\u662f\u5426\u8fd8\u6709\u53ef\u80fd\u8ba9\u4ed6\u4eec\u56de\u672c\u5417\uff1f<\/span>\u5206\u6790\u5e08\u6307\u51fa\uff0c\u867d\u7136\u80a1\u5e02\u5df2\u6709\u6240\u597d\u8f6c\uff0c\u4f46\u5e76\u4e0d\u7b49\u4e8e\u660e\u6717\u590d\u82cf\uff0c\u53ea\u8981\u6709\u8d1f\u9762\u56e0\u7d20\u5927\u529b\u963b\u6270\uff0c\u80a1\u5e02\u8fd8\u662f\u4f1a\u7ee7\u7eed\u4e0b\u6ed1\u7684\uff0c\u4f8b\u5982\u7f8e\u56fd\u5728<\/span>7<\/span>\u6708\u521d\u516c\u5e03\u4e86\u5dee\u5f3a\u4eba\u610f\u7684\u5c31\u4e1a\u5e02\u573a\u62a5\u544a\u540e\uff0c\u5404\u5927\u80a1\u5e02\u968f\u4e4b\u53c8\u8499\u4e0a\u4e86\u4e00\u5c42\u9634\u5f71\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u5728\u56de\u5f39\u7684\u9053\u8def\u4e0a\uff0c\u80a1\u5e02\u8fd8\u4f1a\u65f6\u4e0d\u65f6\u8fdb\u884c\u8c03\u6574\uff0c\u9664\u4e86\u5957\u5229\u60c5\u51b5\u5916\uff0c\u4e5f\u4f1a\u6709\u57fa\u91d1\u8d81\u673a\u51fa\u573a\uff0c\u56e0\u6b64\uff0c\u5728\u57fa\u672c\u9762\u4e0d\u89c1\u597d\u8f6c\u3001\u4e2d\u8d44\u4f01\u4e1a\u5185\u90e8\u76d1\u7ba1\u4ecd\u5b58\u6709\u95ee\u9898\u7684\u60c5\u51b5\u4e0b\uff0c\u6295\u8d44\u8005\u5728\u6295\u8d44\u9f99\u7b79\u80a1\u65f6\u8fd8\u9700\u8c28\u614e\u9762\u5bf9\u3002<\/span>\u5728\u903e<\/span>150<\/span>\u53ea\u9f99\u7b79\u80a1\u4e2d\uff0c\u5bb3\u7fa4\u4e4b\u9a6c\u7684\u786e\u5b58\u5728\uff0c\u4e0d\u8fc7\u4e5f\u6709\u4e00\u4e9b\u57fa\u672c\u9762\u5f3a\u52b2\uff0c\u4e1a\u52a1\u524d\u666f\u4e50\u89c2\u7684\u516c\u53f8\u662f\u6709\u5f85\u6295\u8d44\u8005\u53bb\u53d1\u6398\u7684\u3002\u5728\u7b5b\u9009\u4f18\u8d28\u80a1\u65f6\uff0c\u6295\u8d44\u8005\u5fc5\u987b\u901a\u8fc7\u5404\u65b9\u9762\u53bb\u6536\u96c6\u8baf\u606f\uff0c\u5e76\u4e14\u81ea\u5df1\u8fdb\u884c\u5206\u6790\u3002<\/span>          <\/span><\/span><\/font><\/p>\n

\n\t\u4e00\u822c\u8d22\u7ecf\u65b0\u95fb\u90fd\u4f1a\u544a\u8bc9\u8bfb\u8005\u8981\u8c28\u614e\u505a\u8db3\u529f\u8bfe\u540e\u624d\u4f5c\u51fa\u6295\u8d44\u51b3\u5b9a\uff0c\u4f46\u662f\u8bfb\u8005\u5f80\u5f80\u90fd\u4e0d\u6e05\u695a\uff0c\u6240\u8c13\u7684\u505a\u529f\u8bfe\u7a76\u7adf\u662f\u505a\u4ec0\u4e48\u529f\u8bfe\uff1f\u6709\u9274\u4e8e\u6b64\uff0c\u300a\u65f6\u4ee3\u8d22\u667a\u300b\u7279\u6b64\u5217\u51fa\u6295\u8d44\u8005\u5e94\u8be5\u505a\u7684\u57fa\u672c\u529f\u4e4b\u4e09\u5927\u6b65\u9aa4\uff0c\u8ba9\u6295\u8d44\u8005\u4f5c\u4e3a\u53c2\u8003\u4e4b\u7528\u3002<\/span><\/font><\/p>\n

\n\t\uff11\uff09\u9996\u5148\uff0c\u6295\u8d44\u8005\u5e94\u8be5\u4ed4\u7ec6\u9605\u8bfb\u9f99\u7b79\u80a1\u7684\u4e1a\u7ee9\u62a5\u544a\uff0c\u7279\u522b\u662f\u503a\u52a1\u9879\u76ee\u7684\u680f\u76ee\u3002\u5404\u4e0a\u5e02\u516c\u53f8\u7684\u4e1a\u7ee9\u62a5\u544a\u53ef\u5728\u65b0\u4ea4\u6240\u7684\u7f51\u7ad9\u4e0a\uff08www.sgx.com\uff09 \u627e\u5230\u3002\u5728\u4e1a\u7ee9\u62a5\u544a\u4e2d\uff0c\u4e0a\u5e02\u516c\u53f8\u5fc5\u987b\u6e05\u695a\u5217\u660e\u516c\u53f8\u5728\u672a\u6765\u4e00\u5e74\u5185\uff08\u77ed\u671f\uff09\u6240\u5fc5\u987b\u507f\u8fd8\u7684\u8d37\u6b3e\uff0c\u4ee5\u53ca\u5728\u4e00\u5e74\u540e\uff08\u4e2d\u957f\u671f\uff09\u6240\u5fc5\u987b\u507f\u8fd8\u7684\u503a\u52a1\uff0c\u8fd9\u4e9b\u503a\u52a1\u53ef\u4ee5\u662f\u94f6\u884c\u8d37\u6b3e\u53ca\u53ef\u8f6c\u6362\u503a\u5238\u6b3e\u9879\u7b49\u7b49\u3002<\/span><\/font><\/p>\n

\n\t\uff12\uff09\u5728\u9605\u8bfb\u4e86\u4e0a\u8ff0\u680f\u76ee\u540e\uff0c\u6295\u8d44\u8005\u53ef\u4ee5\u7ffb\u9605\u4e1a\u7ee9\u62a5\u544a\u7684\u73b0\u91d1\u6d41\u680f\u76ee\uff0c\u67e5\u9605\u516c\u53f8\u7684\u73b0\u91d1\u6d41\u91cf\u662f\u5426\u662f\u5065\u5eb7\u7684\uff0c\u8425\u8fd0\u73b0\u91d1\u6d41\uff08operating cash flow\uff09\u662f\u5426\u662f\u6b63\u6570\uff0c\u8fd8\u6709\u6295\u8d44\u73b0\u91d1\u6d41\uff08investing cash flow\uff09\u53ca\u878d\u8d44\u73b0\u91d1\u6d41\uff08financing cash flow\uff09\u662f\u5426\u51fa\u73b0\u5f02\u5e38\u5e9e\u5927\u7684\u8d1f\u6570\uff1f\u7136\u540e\uff0c\u6295\u8d44\u8005\u5e94\u8be5\u628a\u516c\u53f8\u8981\u507f\u8fd8\u7684\u77ed\u671f\u503a\u52a1\u548c\u5176\u624b\u5934\u4e0a\u7684\u603b\u73b0\u91d1\u6d41\u4f5c\u6bd4\u8f83\uff0c\u5982\u679c\u524d\u8005\u6bd4\u540e\u8005\u9ad8\u51fa\u8bb8\u591a\uff0c\u90a3\u4e48\u8fd9\u53ef\u80fd\u610f\u5473\u7740\u8be5\u5bb6\u516c\u53f8\u5728\u672a\u6765\u4e00\u5e74\u5185\u53ef\u80fd\u4f1a\u9677\u5165\u65e0\u6cd5\u507f\u8fd8\u503a\u52a1\u7684\u56f0\u5883\u3002<\/span><\/font><\/p>\n

\n\t\uff13\uff09\u6700\u540e\uff0c\u6295\u8d44\u8005\u5e94\u8be5\u638c\u63e1\u5bf9\u4e2d\u56fd\u7684\u6700\u65b0\u5e02\u573a\u60c5\u62a5\uff0c\u4ece\u4e2d\u4e86\u89e3\u5176\u516c\u53f8\u5728\u5927\u9646\u7684\u4e1a\u52a1\u662f\u5426\u6709\u589e\u957f\u6f5c\u80fd\uff1f\u4f8b\u5982\uff0c\u6709\u5206\u6790\u5e08\u6307\u51fa\uff0c\u7531\u4e8e\u8fd1\u6765\u7206\u53d1\u7532\u578bH1N1\u6d41\u611f\uff0c\u56e0\u6b64\u5efa\u8bae\u8d2d\u4e70\u4e2d\u56fd\u533b\u836f\u80a1\uff0c\u4f7f\u5f97\u80a1\u4ef7\u4e0a\u5347\u3002\u4e0d\u8fc7\uff0c\u6295\u8d44\u8005\u5e94\u8003\u8651\u8fd9\u7c7b\u533b\u836f\u80a1\u7684\u4e2d\u957f\u671f\u53d1\u5c55\uff0c\u6bd5\u7adf\u6d41\u611f\u6548\u5e94\u4e0d\u4f1a\u957f\u4e45<\/span>\u3002\u5176\u4ed6\u53ef\u63a2\u8ba8\u7684\u95ee\u9898\u5305\u62ec\uff1a\u4e2d\u56fd\u7684\u623f\u5730\u4ea7\u5e02\u573a\u503c\u5f97\u6295\u8d44\u5417\uff1f\u96f6\u552e\u4e1a\u662f\u5426\u4ecd\u6709\u5f3a\u52b2\u9700\u6c42\uff1f\u4e2d\u56fd\u5185\u9700\u60c5\u51b5\u7684\u53d1\u5c55\uff1f<\/span><\/font><\/p>\n

\n\t\u5f53\u7136\uff0c\u4e0a\u8ff0\u4e09\u5927\u6b65\u9aa4\u53ea\u662f\u57fa\u672c\u529f\uff0c\u53ef\u7528\u4f5c\u521d\u6b65\u4e86\u89e3\u4e00\u5bb6\u516c\u53f8\u662f\u5426\u503c\u5f97\u6295\u8d44\u7684\u54a8\u8baf\u3002\u5206\u6790\u5e08\u4e00\u822c\u5728\u4f5c\u51fa\u5206\u6790\u524d\u90fd\u4f1a\u8fdb\u884c\u66f4\u591a\u8d22\u7ecf\u8ba1\u7b97\u6a21\u5f0f\u53ca\u5229\u7528\u516c\u53f8\u7684\u57fa\u672c\u9762\u6765\u8fdb\u884c\u76f8\u4eff\u4f30\u4ef7\u6cd5\uff08<\/span>relative valuation<\/span>\uff09\uff0c\u5df2\u63a2\u8ba8\u516c\u53f8\u80a1\u7968\u7684\u5408\u7406\u672c\u76ca\u6bd4\u53ca\u76ee\u6807\u4ef7\uff0c\u7136\u540e\u624d\u7ed9\u4e0e\u5efa\u8bae\u8bc4\u7ea7\u3002<\/span>\u7531\u4e8e\u9f99\u7b79\u80a1\u8fd1\u65e5\u88ab\u51e0\u5b97\u4f01\u4e1a\u4e11\u95fb\u6258\u7d2f\u800c\u8499\u4e0a\u4e00\u5c42\u9634\u5f71\uff0c\u56e0\u6b64\u8bb8\u591a\u5206\u6790\u5e08\u90fd\u6682\u65f6\u6401\u6d45\u7814\u7a76\u9f99\u7b79\u80a1\uff0c\u6709\u5f85\u6574\u4f53\u6c1b\u56f4\u53ca\u6295\u8d44\u60c5\u7eea\u6709\u6240\u597d\u8f6c\u624d\u91cd\u65b0\u6267\u7b14\u3002\u8fd9\u4e9b\u6700\u8fd1\u548c\u4e11\u95fb\u6cbe\u8fb9\u7684\u5305\u62ec\u4e2d\u56fd\u91d1\u5c5e\uff08<\/span>FerroChina<\/span>\uff09\uff0c\u5316\u7ea4\u79d1\u6280\uff08<\/span>FibreChem Technologies<\/span>\uff09\uff0c<\/span>\u4e1c\u65b9\u7eaa\u5143<\/span>\uff08<\/span>Oriental Century<\/span>\uff09\uff0c<\/span>\u5cfb\u714c\u5316\u5de5<\/span>\uff08<\/span>China Sun Bio-Chem<\/span>\uff09<\/span>, <\/span>\u598d\u534e\u63a7\u80a1<\/span> <\/span>(Beauty China)<\/span>\u53ca<\/span>\u4e2d\u56fd\u5370\u67d3<\/span>\uff08<\/span>China Printing & Dyeing<\/span>\uff09\u3002<\/span><\/font><\/p>\n

\n\t\u4e11\u95fb\u4e0d\u65ad\uff0c\u52a0\u4e0a\u6295\u8d44\u6c14\u6c1b\u4e0d\u4f73\uff0c\u662f\u9020\u6210\u4e00\u4e9b\u5206\u6790\u5e08\u6682\u65f6\u907f\u5f00\u53d1\u8868\u9f99\u7b79\u80a1\u7814\u7a76\u62a5\u544a\u53ca\u8bc4\u8bba\u7684\u539f\u56e0\u4e4b\u4e00\u3002\u6b64\u5916\uff0c\u7531\u4e8e\u76ee\u524d\u91d1\u878d\u754c\u6b63\u5728\u524a\u51cf\u6210\u672c\uff0c\u5404\u5927\u7814\u7a76\u673a\u6784\u90fd\u5728\u51cf\u5c11\u4eba\u529b\u53ca\u8d22\u529b\u8d44\u6e90\uff0c\u56e0\u6b64\u5b81\u613f\u628a\u65f6\u95f4\u82b1\u5728\u7814\u7a76\u672c\u5730\u516c\u53f8\u4e0a\uff0c\u800c\u4e0d\u662f\u52b3\u5e08\u52a8\u4f17\u5730\u98de\u5230\u4e2d\u56fd\u5bf9\u9f99\u7b79\u80a1\u8fdb\u884c\u5b9e\u5730\u8003\u5bdf\u3002<\/span> <\/span>\u6709\u9274\u4e8e\u6b64\uff0c\u6295\u8d44\u8005\u5982\u679c\u8981\u8d81\u4f4e\u4ef7\u5438\u8d2d\u4f18\u8d28\u7684\u9f99\u7b79\u80a1\uff0c\u5c31\u5f97\u9760\u81ea\u5df1\u82b1\u70b9\u5fc3\u601d\uff0c“\u7ec3\u7ec3”\u4e0a\u8ff0\u57fa\u672c\u529f\u7684\u4e09\u5927\u6b65\u9aa4\u4e86\u3002<\/span><\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

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