1、 2004 FENGHUA ADVANCED TECHNOLOGY HOLDING CO.,LTD.2004 -1-2-3-4-6-10-11-13-21-22-26-72 2004 1 2004 2 FENGHUA ADVANCED TECHNOLOGY HOLDING CO.,LTD.0758-2844724 0758-2849045 000636china-18 18 526020 http:/www.fenghua-000636china-http:/000636 1994 3 23 24 2004 12 30 18 4400001001279 441201502100006 01 2
2、004 3 2072 8 1 34,004,300.54 2 24,605,945.27 3 24,126,752.70 4 226,973,862.45 5 2,165,598.77 6 34,578,420.71 7-1,367,067.27 8 1,197,277.00 9-404,329.90 10 274,772,020.01 11 137,177,334.01 6,728,221.06 1,197,277.00 499,336.34 827,996.28 7,033,082.16 563,755.96 479,192.57 2002 2004 2003()1,275,577,104
3、.35 1,055,978,947.88 1,018,165,554.75 1,018,165,554.75()24,605,945.27 23,443,913.38 22,366,988.71 22,366,988.71()3,497,660,465.20 3,292,645,661.03 3,123,162,679.94 3,123,162,679.94()2,098,665,983.60 2,099,693,821.68 2,075,281,738.16 2,062,023,464.28(/)0.046 0.044 0.042 0.042(/)3.957 3.959 3.913 3.88
4、8(/)3.862 3.876 3.854 3.829 2004 4(%)1.17 1.12 1.08 1.08(/)0.518 0.351 0.333 0.333 9%10.82 10.83 0.428 0.428 1.65 1.65 0.065 0.065 1.17 1.17 0.046 0.046 1.15 1.15 0.046 0.046:()530,330,955 1,089,004,647.60 158,718,114.00 44,767,431.92 321,640,105.05 2,099,693,821.68-882,764.40 3,690,891.79 1,230,297
5、.26 24,605,945.27-30,270,439.55 530,330,955 1,089,887,412.00 162,409,005.79 45,997,729.18 316,038,610.81 2,098,665,983.60+-1 225,911,452 225,911,452 201,080,451 201,080,451 24,831,001 24,831,0012 103,625,303 103,625,3033 4 167,095-54,031-54,031 113,064 329,703,850 329,649,819 2004 5 1 4 200,627,105
6、200,627,105 54,031 54,031 200,681,136200,681,136 530,330,955 530,330,955 1 2 3 91,417()(%)()1 142,484,170 26.87 71,225,000 2 42,335,000 7.98 3 26,775,000 5.05 4 22,380,300 4.22 5 20,211,000 3.81 6 16,725,000 3.15 13,725,000 7 14,134,700 2.67 6,000,000 8 8,100,000 1.53 9 5,625,000 1.06 10 4,050,000 0
7、.76 2,000,000 1 2 16,725,000 13,725,000 3,000,000 3 2004 6 1996 12 28 1.2,1994 9 7 1.2 1 2,422,324A 2 1,066,477A 3 100 738,806A 4 670,990A 5 520,000A 6 300 504,296 A 7 409,545A 8 400,000A 9 397,900A 10 390,801A 26.87%100%2004 7 2003.10-2006.10 67,540 67,540 2004.06-2006.10 2003.10-2006.10 2003.10-20
8、06.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 4,000 4,000 2003.10-2006.10 2003.10-2006.10 1,000 1,000 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.10 2003.10-2006.1
9、0 2003.10-2006.10 2003.10-2006.10 1 2 3 4 5 6 7 1949 9 1984 1994 2003 11 1954 8 2004 8 1997 4 2003 12 2004 6 1962 4 2002 8 2003 11 1958 8 1987 1994 3 1998 3 1998 3 2000 9 1965 6 1995 8 1997 6 2003 2 2000 9 2003 4 2003 5 1963 5 1993 10 2000 9 1950 10 1968 11 1974 12 1977 5 1992 9 1992 9 2002 9 2002 9
10、 2000 9 1944 3,1968 1971 1971 1 1978 9 1982 1 1984 8 1988 12 American Electronic Materials Inc Ferro-MSI 1996 11 Easthill Technology 2002 5 1942 8 1965 1978 8830 1978 10 1984 5 1984 5 1995 4 1995 4 2000 6 2000 6 2003 10 1964 1 1988 1993 1997 1996 2000 2004 9 2001 2003 10 1963 10 1986 1991 1994 2001
11、2001 3 2003 10 1957 2 1990 1995 1996 2000 9 1955 5 1986 1991,1993 2000 1991 2000 9 1968 9 1988 7 2003 2 2003 2 2003 5 1958 5 1975 1993 1993 3 1995 4 1995 2002 5 1971 2 1990 2002 5 1969 1 1993 1998 4 2000 9 2002 5 2003 10 1958 7 1981 1984 1986 1987 4 1987 5 1989 1990 1993 1993 1997 1998 3 2000 9 2003
12、 1966 1 1999 1 2000 9 2000 9 1963 4 1984 8 1994 5 2004 10 1994 6 1995 5 1995 6 1999 7 1967 10 1988 7 1993 3 1994 3 1955 12 1982 1 1983 1 1984 1 1995 1 1995 1 2004 2002 4 1955 10 1972 10 1994 6 1994 7 2000 9 2000 9 290 20 5 10 20 5 10 14 93.54 106.64 3600/1000/2004 6 30 2003 6,744 29 1,472 419 326 12
13、 28 1,821 2004 11 200356 2004 2004 5 29 2004 6 18 2004 12 2004 6 30 2003 2004 6 30 2003 1 16 310,742,322 58.59%2003 2003 2003 2003 2003 2004 7 1 2004 2004 10 30 2004 11 19 2004 11 30 2004 2004 11 30 2004 1 15 309,122,322 58.29%41.67%2004 12 1 2004 6 30 2003 2004 13 2004 40%2004 MLCC R-CHIP 500 2000
14、127,557.71 20.80%3,400.43 3.08%2,460.59 4.96%2004 2001 1 2004 10 12 23 MLCC MLCC 2 2004 14 3 4 20 1 975,046,258.95 76.44%182,084,982.15 80.22%300,530,845.40 23.56%44,888,880.31 19.78%1,275,577,104.35 100%226,973,862.45 100%2 469,548,116.86 36.81%111,349,790.78 49.06%123,573,073.53 9.69%12,062,491.58
15、 5.31%113,101,336.43 8.87%19,842,101.23 8.74%107,729,811.94 8.45%19,212,015.87 8.46%96,958,786.03 7.60%15,678,314.27 6.91%59,237,433.77 4.64%12,261,162.58 5.40%53,318,512.74 4.18%5,636,405.84 2.48%45,233,292.90 3.55%5,095,707.14 2.25%206,876,740.15 16.22%25,835,873.18 11.38%1,275,577,104.35 100%226,
16、973,862.45 100%3 956,090,158.28 74.95%161,343,844.53 71.08%319,486,946.07 25.05%65,630,016.92 28.92%1,275,577,104.35 100%226,973,862.45 100%()10%469,548,116.86354,742,893.13 24.45%100 40,000 104,697.15 4,482.28 2004 15 100 3,969 15,440.23 585.93 55.00 4,483.56 5,480.05-180.12 92.00 2,500 10,299.38 2
17、,178.29 100 13,000 23,028.54 113.75 96.00 2,500 16,000.77-135.32 100 2,500 10,987.83 309.31 94.77 6,700 11,012.77-107.63 94.07 1,800 5,188.93 63.15 94.00 1,500 4,983.30 167.19 90.00 2,000 6,914.52 193.55 100 18,900 45,850.65-597.33 2004 16.06%2004 12.73%1 2 3 2004 3600 2004 16 90%2004 2003%349,766.0
18、5329,264.57 6.23 42,075.0350,199.88-16.18 44,208.9043,278.632.15 99,600.0068,100.00 46.26 209,866.60209,969.38-0.05 127,557.71105,597.89 20.80 22,697.3921,760.81 4.30 4,548.802,829.19 60.78 2,460.592,344.39 4.96 13,717.73 27.90-1 6.23%2 16.18%3 2.15%4 46.26%5 0.05%6 20.80%7 4.30%8 60.78%9 4.81%10 13
19、,689.83 MP3 2004 17 2005 ITIS Paumanok 10%MLCC 100 2004 18 2004 4 10 2004 2003 2003 2003 2003 2003 2.40%8%2003 2003 2004 4 13 2004 4 21 2004 2004 2004 4 23 2004 7 26 2004 2004 2004 7 28 2004 9 25 2004 41.67%2004 2004 9 28 2004 10 26 2004 2004 2004 10 28 2004 19 2004 2,460.59 10%246.06 5%123.03 29,51
20、2.36 2004 31,603.86,2004 2004 12 31 530,330,955,0.50(),2,651.65,28,952.21 2004,1999381 1 18 2 2004 200356 2004 2004 20(2005)ZA094 2004 12 31 2004 2005 4 15 2005 CA500 2004 12 31 2004 1.2003 66,356,658.64 2004 55,259,666.62 2004 11,096,992.02 2004 55,259,666.62 40,600,000.00 95,859,666.62 95,859,666.
21、62 2004 2.2004 1.8 2003 18,614,902.27 2004 4,635,642.66 2004 13,979,259.61 2004 2004 21 810,062.36 7,760,297.32 9,122,908.82 5,791,693.79 3,697,809.62 2003 24,088,319.02 2004 16,598,554.86 2004 7,489,764.16 2004 2004 287,652,174.04 291,141,044.29 4,000,893.91 200356 2004 12 31 2004 4 10 2004:1 2003
22、2 2003 3 2003 4 2004 4 13 2004 22 2004 2000 2004 6 30 2003 3750 91870.86 2004 2004 11 30 2004 41.67%1 2004 CA555 2004 1-6 2004 231.056:1 7,683.456 2 2004 CA556 2004 1-6 2004 6 30 1.227:1 7,683.456 1.227:1 6,261.99 64.04%3 15 20 2004 12 100%2004 218 2004 9 25 10 30 12 1()1.10,685,284.43 1.44%6,691,43
23、3.45 0.90%14,065,412.27 1.90%15,692,270.16 2.12%22,808,860.10 3.08%7,760,297.32 1.05%77,703,557.73 10.49%2 2004 24 184,183,278.67 14.44%8,455,357.32 0.66%13,918,686.80 1.09%7,216,021.32 0.57%213,773,344.11 16.75%1 2 3 2004 12 31 63,500 256.25 2004 1,089,434.91 13,166,801.73 9,019,872.82 34,135,461.9
24、5 2,945,354.80 24,088,319.02 287,652,174.04 291,141,044.29 4,000,893.91 16,598,554.86,4%0.3%2004 2004 252,719,687.41()6,838,316.92()16,516,861.24*55,259,666.62 2004 55,259,666.62 40,600,000.00 2.73%95,859,666.62 184,965,939.42 162,160,426.31 13,006 10,000 19,100 5%5%2003 2004 2004 60 2004 26 2004 20
25、05 CA500(2005)CA500 2004 12 31 2004 2004 12 31 2004 2005 4 15 2004 27 2004-12-31 2003-12-31 1 700,238,132.82 372,060,798.81 2 33,523,248.19 40,270,350.20 3 21,370,410.57 30,267,743.27 41,166.67-4 420,750,284.89 501,998,791.25 5 26,413,305.22 34,261,901.82 6 35,410,152.33 27,086,458.34 7-4,447,950.16
26、 8 442,088,925.71 432,786,316.29 9 4,008,542.01 3,600,194.40 1,683,844,168.41 1,446,780,504.54 10 134,171,051.02 109,362,480.24 10 5,000,000.00-139,171,051.02 109,362,480.24 11 2,336,501,479.15 2,284,311,743.45 11 757,198,953.86 605,333,648.69 11 1,579,302,525.29 1,678,978,094.76 11 20,707,533.03 20
27、,707,533.03 11 1,558,594,992.26 1,658,270,561.73 12 39,531,025.97 31,999,797.08 1,598,126,018.23 1,690,270,358.81 13 71,074,815.09 39,137,478.28 14 5,444,412.45 7,094,839.16 76,519,227.54 46,232,317.44 3,497,660,465.20 3,292,645,661.03 2004 28()2004-12-31 2003-12-31 15 996,000,000.00 681,000,000.00
28、16 21,153,000.00 81,257,400.00 17 254,959,774.78 248,696,250.87 18 2,619,178.28 4,800,464.53 1,102,417.60 732,960.97 10,365,785.26 8,456,032.81 7,277,488.44 4,510,834.89 19 12,855,966.72(6,889,902.05)20 765,567.30 667,054.20 21 14,537,047.45 19,516,461.66 22 7,532,337.73 6,159,684.24-1,329,168,563.5
29、6 1,048,907,242.12-23 5,188,264.63 5,248,583.62 24 31,645,518.00 17,578,979.52-36,833,782.63 22,827,563.14-1,366,002,346.19 1,071,734,805.26 32,992,135.41 121,217,034.09 25 530,330,955.00 530,330,955.00 26 1,089,887,412.00 1,089,004,647.60 27 162,409,005.79 158,718,114.00 27 45,997,729.18 44,767,431
30、.92 28 289,522,063.06 295,123,557.33 29 26,516,547.75 26,516,547.75 2,098,665,983.60 2,099,693,821.68 3,497,660,465.20 3,292,645,661.03 2004 29 2004 2003 30 1,275,577,104.35 1,055,978,947.88 30 1,041,552,900.00 830,074,090.24 31 7,050,341.90 8,296,731.39 226,973,862.45 217,608,126.25 32 2,165,598.77
31、 2,263,842.51 46,078,220.99 41,362,904.64 102,994,799.40 104,292,885.58 33 45,488,020.12 28,291,936.02 34,578,420.71 45,924,242.52 34(1,367,067.27)(11,505,878.61)35 1,197,277.00 1,388,926.00 36 499,336.34 361,809.92 37 903,666.24 1,083,797.80 34,004,300.54 35,085,302.03 38 9,900,257.40 7,389,766.84(
32、501,902.13)4,251,621.81-24,605,945.27 23,443,913.38 2004 2003 1.-(170,291.06)2.-3.-4.-5.-6.-2004 30 2004 2003 24,605,945.27 23,443,913.38 295,123,557.33 301,712,778.71 319,729,502.60 325,156,692.09 2,460,594.53 2,344,391.34 1,230,297.26 1,172,195.67 316,038,610.81 321,640,105.08-26,516,547.75 26,516
33、,547.75 289,522,063.06 295,123,557.33 2004 31 2004 1,514,582,592.90 5,431,259.27 39 57,822,377.24 1,577,836,229.41 944,307,130.47 134,374,192.72 50,378,756.41 39 174,004,129.80 1,303,064,209.40 274,772,020.01-17,673,676.89 487,477.48 53,310,000.00 71,471,154.37 118,386,304.20 39 95,106,413.82 39 139
34、,456.40 213,632,174.42(142,161,020.05)-1,095,000,000.00-1,095,000,000.00 780,000,000.00 66,105,665.95 640,000.00 39 243,688,000.00 1,090,433,665.95 4,566,334.05-137,177,334.01()2004 32 2004 1 24,605,945.27-(501,902.13)22,555,636.03 165,606,223.84 3,005,929.83 2,756,416.59(408,347.61)1,372,653.49()(3
35、96,869.75)44,821,189.95(8,858,388.56)(71,636,622.11)-33,515,559.78 58,334,595.39-274,772,020.01 2-3 700,238,132.82 191,000,000.00 372,060,798.81-137,177,334.01 2004 33 2004-12-31 2003-12-31 697,869,143.97 369,592,482.91 33,523,248.19 40,270,350.20 11,443,832.72 15,470,749.33 41,166.67-1 856,031,783.
36、85 1,110,994,265.87 2 21,084,932.34 21,908,061.65 2,768,660.09 1,307,352.88-4,447,950.16 247,259,670.06 181,006,907.87 3,021,968.40 1,935,266.11 1,873,044,406.29 1,746,933,386.98 3 486,766,468.92 482,085,597.27 5,000,000.00-491,766,468.92 482,085,597.27 1,734,780,145.24 1,455,943,818.03 538,896,085.
37、70 342,716,044.56 1,195,884,059.54 1,113,227,773.47 19,516,099.61 17,661,189.77 1,176,367,959.93 1,095,566,583.70 32,918,906.65 17,530,648.61 1,209,286,866.58 1,113,097,232.31 53,480,513.43 20,431,979.90 3,606,029.35 4,956,416.97 57,086,542.78 25,388,396.87 3,631,184,284.57 3,367,504,613.43 2004 34(
38、2004-12-31 2003-12-31 995,000,000.00 680,000,000.00 21,153,000.00 81,257,400.00 420,730,357.62 448,251,190.04 491,143.18 67,986.61 525,390.29 491,417.64 7,131,213.80 3,016,976.65 7,277,488.44 4,509,895.61 9,996,471.07(9,810,644.20)10,916,399.61 543,389.14 664,490.39 13,926,686.54 4,068,378.23 1,736,
39、097.01-1,477,954,332.63 1,223,990,395.04-5,188,264.63 5,248,583.62 20,827,518.00 6,100,000.00 26,015,782.63 11,348,583.62 1,503,970,115.26 1,235,338,978.66 530,330,955.00 530,330,955.00 1,096,877,116.48 1,095,994,352.08 162,409,005.79 158,718,114.00 45,997,729.18 44,767,431.92 311,080,544.29 320,605
40、,665.94 26,516,547.75 26,516,547.75 2,127,214,169.31 2,132,165,634.77 3,631,184,284.57 3,367,504,613.43 2004 35 2004 2003 4 927,743,220.78 779,647,176.26 4 816,608,647.30 753,853,826.00 4,550,715.59 5,179,483.11 106,583,857.89 20,613,867.15 3,609,833.16-5 26,303,244.38 18,870,785.43 6 59,414,598.36
41、45,828,491.46 7 17,908,642.37(23,000,162.10)6,567,205.94(21,085,247.64)8 19,657,045.07 40,219,347.03 1,197,277.00 1,388,926.00 483,363.58-556,715.10 65,452.91 27,348,176.49 20,457,572.48 6,665,858.60-20,682,317.89 20,457,572.48 2004 2003 1.-(170,291.06)2.-3.-4.-5.-6.-2004 36 2004 2003 20,682,317.89
42、20,457,572.48 320,605,665.94 330,181,228.22 341,287,983.83 350,638,800.70 2,460,594.53 2,344,391.34 1,230,297.26 1,172,195.67 337,597,092.04 347,122,213.69-26,516,547.75 26,516,547.75 311,080,544.29 320,605,665.94 2004 37 2004 1,114,979,045.36 5,431,259.27 265,235,759.91 1,385,646,064.54 972,599,004
43、.99 64,036,217.02 27,906,400.46 65,528,155.84 1,130,069,778.31 255,576,286.23-25,033,676.89 131,274,735.93 27,806,921.89 398,294.27 184,513,628.98 106,449,870.80 95,106,413.82 155,773,062.66-357,329,347.28(172,815,718.30)1,095,000,000.00-1,095,000,000.00 780,000,000.00 66,341,344.98 454,561.89 193,6
44、88,000.00 1,040,483,906.87 54,516,093.13-137,276,661.06 2004 38 2004 1 20,682,317.89-16,997,632.06 133,241,042.79 2,491,267.51 2,364,658.23 855,162.28 683,389.02()398,294.27 20,484,624.20(19,657,045.07)(23,761,733.06)-210,682,474.57(109,885,798.46)-255,576,286.23 2-3 697,869,143.97 191,000,000.00 36
45、9,592,482.91-137,276,661.06 2004 39 1 2004 54,318,972.64 2,922,794.05-6,119,784.57 6,119,784.57 51,121,982.12 35,409,312.21 1,730,683.20-4,665,516.98 4,665,516.98 32,474,478.43 18,909,660.43 1,192,110.85-1,454,267.59 1,454,267.59 18,647,503.69 1,426,462.27 10,225,455.83-11,651,918.10 1,426,462.27 10
46、,225,455.83-11,651,918.10-34,971,822.38 17,247,268.41-7,374,818.94 7,374,818.94 44,844,271.85 30,650,460.16 7,693,549.82-6,877,907.05 6,877,907.05 31,466,102.93 2,879,345.996,026,921.32-496,911.89 496,911.89 8,409,355.42 843,717.023,348,310.43-4,192,027.45 598,299.21178,486.84-776,786.05-20,707,533.
47、03-20,707,533.03-20,661,742.18-20,661,742.18 10,743.06-10,743.06 35,047.79-35,047.79-75,669.96-75,669.96-2004 40 2 2004 2003 530,330,955.00 530,330,955.00-530,330,955.00 530,330,955.00 1,089,004,647.60 1,074,778,203.58 882,764.40 14,226,444.02-882,764.40 2,226,444.02-12,000,000.00-1,089,887,412.00 1
48、,089,004,647.60 113,950,682.08 111,606,290.74 2,460,594.53 2,344,391.34 2,460,594.53 2,344,391.34 2,460,594.53 2,344,391.34-1 16,411,276.61 113,950,682.08 91,995,458.37 89,534,863.84 44,767,431.92 43,595,236.25 1,230,297.26 1,172,195.67 1,230,297.26 1,172,195.67-45,997,729.18 44,767,431.92 295,123,5
49、57.33 301,712,778.71 24,605,945.27 23,443,913.38 30,207,439.54 30,033,134.76 289,522,063.06 295,123,557.33 2004 41 3 2004-12-31 1(5,611,199.47)2 212,507,762.71 38,253,649.05 12,810,858.40 1,375,008.01 3 181,090,097.58 6,422,159.61 37,033,365.96 35,487,948.35 4(697,492.80)1(9,054,298.43)2 34,112,940.
50、34 3 23,391,861.99 4 1,666,779.92 2004 42 2004(/)10.82%10.83%0.4280 0.4280 1.65%1.65%0.0652 0.0652 1.17%1.17%0.0464 0.0464 1.15%1.15%0.0455 0.0455.1:=2(ROE):P ROE=-E0+NP2+EiMiM0-EjMjM0 P NP E0 Ei Ej M0 Mi Mj.3 EPS P EPS=-S0+S1+SiMiM0-SjMjM0 P S0 S1 Si Sj M0 Mi Mj 4:1.6,728,221.06 2.1,197,277.00 3.49
