中银国际-广州药业深度报告

-12.06GuangzhouPharm

_06.12.06+(EN) ３２页 英文　　1.93M

This English report is the translated version of our company report “广州药业” issued in Chinese on 28 July 2006

Table of Contents
DOMINANT POSITION IN SOUTHERN CHINA..................................3
HOLDING COMPANY WITH RICH RESOURCES ................................5
THE SLEEPING LION AWAKENS.................................................9
SUSTAINABLE LONG-TERM GROWTH ......................................... 14
EARNINGS FORECASTS AND VALUATIONS ...................................20
RISK FACTORS .................................................................23
APPENDIX I. COMPANY BACKGROUND ...................................... 24
APPENDIX II. LIANG CHA MARKET .........................................25
APPENDIX III. CHINA'S DIABETES MEDICINE MARKET ....................26
APPENDIX IV. FINANCIAL INFORMATION (H-SHARES) .....................27
APPENDIX V. FINANCIAL INFORMATION (A-SHARES) ......................28
LISTED COMPANIES IN THIS REPORT ........................................29