中國(guó)com公司在美國(guó)IPO業(yè)績(jī)V10

1、中國(guó).com公司在美國(guó)IPO業(yè)績(jī)2概述中國(guó).com公司財(cái)務(wù)信息互聯(lián)網(wǎng)由免費(fèi)廣告走向用戶付費(fèi)增值附件成功在美國(guó)上市的中國(guó)公司90家紐交所中國(guó)上市公司3家紐交所中國(guó).com公司成功在美國(guó)上市的中國(guó)公司148家納斯達(dá)克中國(guó)上市公司 19家納斯達(dá)克中國(guó).com公司中國(guó).com公司美國(guó)IPO時(shí)間522家中國(guó).com公司先后在美國(guó)上市在美國(guó)IPO的中國(guó).com公司領(lǐng)域細(xì)分6在美國(guó)IPO的中國(guó).com公司領(lǐng)域細(xì)分7在美國(guó)IPO的中國(guó).com公司領(lǐng)域細(xì)分8在美國(guó)IPO的中國(guó).com公司領(lǐng)域細(xì)分9搜 索娛 樂房產(chǎn)信息無線增值在美國(guó)IPO的中國(guó).com公司概況公司名稱股票代碼員工（人）市值/美元公司名稱股票代碼

2、員工（人）市值/美元百度BIDU7,353 304.71億易居中國(guó)EJ7,152 12.83億攜程網(wǎng)CTRP10,000 115.84億前程無憂JOBS3,804 7.27億網(wǎng)易NTES4,56351.39億藝龍LONG1,765 3.24億新浪SINA2,500 27.49億空中網(wǎng)KONG1,002 2.15億 盛大SNDA5,721 26.77億中華網(wǎng)CHINA3172.09億盛大游戲GAME2,254 20.54億Tom在線TOMO600 1.80億搜狐SOHU3,99719.12億正保教育DL8011.78億巨人GA1,575 15.35億金融網(wǎng)JRJC1,603 1.75億暢游CYO

3、U1,248 15.14億九城NCTY1,010 1.38億中國(guó)房產(chǎn)信息集團(tuán)CRIC-14.08億 華友世紀(jì)HRAY444 8814.19萬 完美時(shí)空PWRD2,896 13.15億靈通網(wǎng)LTON270 7573.62萬根據(jù)2010年08月09日收盤數(shù)據(jù)在美國(guó)IPO的中國(guó).com公司市值規(guī)模11按2010年08月09日收盤價(jià)按1美元=人民幣6.7685元換算12概述中國(guó).com公司財(cái)務(wù)信息互聯(lián)網(wǎng)由免費(fèi)廣告走向用戶付費(fèi)增值附件13概念理解凈利潤(rùn)（Net Income）14Net Income價(jià)值正數(shù)公式負(fù)數(shù)凈利潤(rùn)（總收入-總成本）（1所得稅率）企業(yè)經(jīng)營(yíng)效益的主要指標(biāo)說明出現(xiàn)虧損表示盈利主營(yíng)業(yè)務(wù)收

4、入（Revenue）15賣稻子收入（ Revenue）賣稻桿（其他業(yè)務(wù)收入）挖到金幣（營(yíng)業(yè)外收入）Revenue反映企業(yè)規(guī)模大小（人員、資金、其它）主營(yíng)業(yè)務(wù)凈利潤(rùn)率凈利潤(rùn)/主營(yíng)業(yè)務(wù)收入100%體現(xiàn)盈利能力的高低種田經(jīng)營(yíng)活動(dòng)現(xiàn)金流16經(jīng)營(yíng)活動(dòng)現(xiàn)金流 Cash from Operating Activities 籌資活動(dòng)現(xiàn)金流Cash from Financing Activities投資活動(dòng)現(xiàn)金流Cash from Investing Activitiesu經(jīng)營(yíng)活動(dòng)現(xiàn)金流量越大，表明主營(yíng)業(yè)務(wù)突出、營(yíng)銷表現(xiàn)卓越、銷售回款好、創(chuàng)現(xiàn)能力強(qiáng)，但并不是越大越好；u經(jīng)營(yíng)活動(dòng)現(xiàn)金流量?jī)纛~以收付實(shí)現(xiàn)制為基礎(chǔ)，凈

5、利潤(rùn)以權(quán)責(zé)發(fā)生制為基礎(chǔ)；正數(shù)正負(fù)之間負(fù)數(shù)快速成長(zhǎng)的公司處于創(chuàng)業(yè)期的公司負(fù)數(shù)正數(shù)示例17張三李四王五5千出售1千出售Revenue：5千Net Income：5-2=3千Cash from Operating Activities ：5-2-1=2千替張三進(jìn)行財(cái)務(wù)核算小偉2千出售18不同領(lǐng)域.com公司對(duì)比192009200820072006新浪搜狐網(wǎng)易近四年三大門戶網(wǎng)站Revenue情況對(duì)比2009200820072006新浪搜狐網(wǎng)易近四年三大門戶網(wǎng)站Net Income情況對(duì)比公司近四年主營(yíng)業(yè)務(wù)凈利潤(rùn)率平均比例近四年研發(fā)投入占主營(yíng)收入（Revenue）平均比例發(fā)行價(jià)(USD)股價(jià)52周最高(

6、USD)股價(jià)52周最低(USD)新浪44.5%9%1747.9528.91搜狐25.8%12% 1372.2940.05網(wǎng)易53.5%7%15.5048.5026.16u近四年，在三大門戶網(wǎng)站中，網(wǎng)易的盈利能力最強(qiáng)；三大門戶網(wǎng)站對(duì)比202009200820072006九城巨人完美時(shí)空暢游近四年 Revenue對(duì)比2009200820072006九城巨人完美時(shí)空暢游近四年 Net Income對(duì)比公司近四年主營(yíng)業(yè)務(wù)凈利潤(rùn)平均比例近四年研發(fā)投入占主營(yíng)收入（Revenue）平均比例發(fā)行價(jià)(USD)股價(jià)52周最高(USD)股價(jià)52周最低(USD)盛大游戲-12.5013.004.99九城1%6%179

7、.583.70巨人68%5%15.508.256.24完美時(shí)空30%14%1650.4920.75暢游30%15%1642.8224.85u近四年，巨人的盈利能力最強(qiáng)，其股價(jià)一定程度被市場(chǎng)所低估；網(wǎng)游公司對(duì)比212009200820072006e龍網(wǎng)攜程網(wǎng)前程無憂正保教育近四年Revenue對(duì)比2009200820072006e龍網(wǎng)攜程網(wǎng)前程無憂正保教育近四年Net Income對(duì)比公司近四年主營(yíng)業(yè)務(wù)凈利潤(rùn)率平均比例近四年研發(fā)投入占主營(yíng)收入（Revenue）平均比例發(fā)行價(jià)(USD)股價(jià)52周最高(USD)股價(jià)52周最低(USD)e龍網(wǎng)-6%16%13.516.976.79攜程網(wǎng)32%15%18

8、47.0123.36前程無憂13%-1423.3612.02正保教育20%-78.253.04u07、08年，e龍網(wǎng)處于虧損狀態(tài)，在09年開始回升；u在電子商務(wù)領(lǐng)域中，攜程網(wǎng)綜合財(cái)務(wù)實(shí)力最強(qiáng)；電子商務(wù)領(lǐng)域?qū)Ρ?2無線增值領(lǐng)域?qū)Ρ?009200820072006空中網(wǎng)華友世紀(jì)靈通網(wǎng)近四年Revenue對(duì)比2009200820072006空中網(wǎng)華友世紀(jì)靈通網(wǎng)近四年Nest Income對(duì)比公司近四年主營(yíng)業(yè)務(wù)凈利潤(rùn)率平均比例近四年研發(fā)投入占主營(yíng)收入（Revenue）平均比例發(fā)行價(jià)(USD)股價(jià)52周最高(USD)股價(jià)52周最低(USD)空中網(wǎng)4%15%1016.165.22華友世紀(jì) （已更名酷六網(wǎng)）

9、-37%2%10.257.162.22靈通網(wǎng)-138%143.211.20u連續(xù)三年虧損后，華友世紀(jì)已經(jīng)被盛大注資收編，并將酷六網(wǎng)資產(chǎn)置入；u受行業(yè)整體環(huán)境影響，無線增值領(lǐng)域公司盈利水平相對(duì)較低；23盛大、百度24（In Millions of CNY） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 5,240.803,569.072,467.261,654.461,592.401,832.903,214.901,237.201,349.60Net Income 1,592.561,228.671,265.18529.21229.

10、60369.30862.30426.90361.00主營(yíng)業(yè)務(wù)凈利潤(rùn)率30%34%51%32%14%20%27%35%27%R & D417.28274.65163.55167.79131.80128.70189.7090.1098.90研發(fā)投入占營(yíng)收比重8%8%7%10%8%7%6%7%7%Cash from Operating Activities 2,496.801,737.701,159.97780.07-盛大盛大250%10%20%30%40%50%60%01000200030004000500060002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)

11、凈利潤(rùn)率0%10%20%30%40%05001000150020002500300035002010Q12009Q42009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率26（In Millions of CNY） 2009200820072006 2010Q22010Q12009Q42009Q32009Q2Revenue 4,445.313,194.461,741.02828.481,914.391,293.911,260.891,278.701,097.47Net Income 1,485.101,048.11628.97301.77837.36480.54

12、427.86492.86383.26主營(yíng)業(yè)務(wù)凈利潤(rùn)率33%33%36%36%44%37%34%39%35%R & D422.62286.26140.7079.23159.27122.13124.40116.6995.85研發(fā)投入占營(yíng)收比重10%9%8%10%8%9%10%9%9%Cash from Operating Activities 2,279.431,746.20935.15440.81-百度百度2731%32%33%34%35%36%37%0100020003000400050002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率0%5%10%

13、15%20%25%30%35%40%45%05001000150020002010Q22010Q12009Q42009Q32009Q2RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率28概述中國(guó).com公司財(cái)務(wù)信息互聯(lián)網(wǎng)由免費(fèi)廣告走向用戶付費(fèi)增值附件29傳統(tǒng)以廣告為主的門戶網(wǎng)站非廣告收入持續(xù)增加新浪營(yíng)收結(jié)構(gòu)30營(yíng)收結(jié)構(gòu)(in millions of USD) 2009年2008年2007年2006年 廣告收入202.2258.5168.9120.1非廣告收入126111.177.2092.80200920820072006廣告收入非廣告收入網(wǎng)易營(yíng)收結(jié)構(gòu)31營(yíng)收結(jié)構(gòu)(in millions o

14、f CNY) 2009年2008年2007年2006年廣告收入384406305286非廣告收入34,1625,9420,0519,312009200820072006廣告收入非廣告收入搜狐營(yíng)收結(jié)構(gòu)32營(yíng)收結(jié)構(gòu) （In Millions of USD）2009年2008年2007年2006年廣告收入177.1175.9119.291.80非廣告收入338.1253.169.7042.50200920820072006廣告收入非廣告收入騰訊營(yíng)收結(jié)構(gòu)33營(yíng)收結(jié)構(gòu) （億元）2010上半年2009年2008年2007年2006年互聯(lián)網(wǎng)增值服務(wù)69.6995.30749.15025.13718.253移

15、動(dòng)及電信增值服務(wù)12.92419.05613.9908.0767.001網(wǎng)絡(luò)廣告業(yè)務(wù)6.0199.6228.2604.9302.667注：騰訊在香港上市，列入僅做參考2010上半年2009年2008年2007年2006年互聯(lián)網(wǎng)增值服務(wù)移動(dòng)及電信增值服務(wù)網(wǎng)絡(luò)廣告業(yè)務(wù)34互聯(lián)網(wǎng)用戶付費(fèi)業(yè)務(wù)由網(wǎng)絡(luò)游戲開始網(wǎng)游廠商2009年?duì)I收結(jié)構(gòu)35 MMORPG業(yè)務(wù) 高級(jí)休閑游戲業(yè)務(wù) 網(wǎng)絡(luò)游戲運(yùn)營(yíng) 其他產(chǎn)品和服務(wù) 在線游戲營(yíng)收 海外授權(quán)營(yíng)收 在線游戲營(yíng)收 海外授權(quán)營(yíng)收1.165億2.676億100萬780萬2.754億3140萬RevenueRevenueRevenueRevenue6.56億4550萬（In M

16、illions of USD）36概述中國(guó).com公司財(cái)務(wù)信息互聯(lián)網(wǎng)由免費(fèi)廣告走向用戶付費(fèi)增值附件37門戶網(wǎng)站38（In Millions of USD） 20092008200720062010Q12009Q42009Q32009Q22009Q1Revenue 358.57369.59246.13212.8585.0098.1994.6688.6473.77Net Income 411.8980.64 54.1239.9224.35372.1116.7013.349.75主營(yíng)業(yè)務(wù)凈利潤(rùn)率115%22%22%19%29%379%8%15%13%R & D33.7830.3721.941

17、9.577.6810.617.857.847.48研發(fā)投入占營(yíng)收比重9%8%9%9%9%11%8%9%10%Cash from Operating Activities 98.09 114.0089.0663.10-資產(chǎn)處置獲利新浪390%20%40%60%80%100%120%01002003004005002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率0%50%100%150%200%250%300%350%400%0501001502002503003504002010Q12009Q42009Q32009Q22009Q1RevenueNet Incom

18、e主營(yíng)業(yè)務(wù)凈利潤(rùn)率新浪40（In Millions of CNY） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 3,756.953,084.582,213.292,164.361,164.491,249.91868.03863.09775.92Net Income 1,850.441,596.691,264.091,217.58452.26571.76393.83468.12 416.72主營(yíng)業(yè)務(wù)凈利潤(rùn)率49%52%57%56%39%46%45%54%54%R & D230.44207.02180.74153.1667.

19、0063.0562.7853.8150.79研發(fā)投入占營(yíng)收比重6%6%8%7%6%5%7%6%7%Cash from Operating Activities 2,094.492,017.801,379.901,596.11676.53712.36269.97544.37567.79網(wǎng)易網(wǎng)易4144%46%48%50%52%54%56%58%050010001500200025003000350040002009200820072006RenvenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率0%10%20%30%40%50%60%02004006008001000120014002010Q1200

20、9Q42009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率42（In Millions of USD） 20092008200720062010Q12009Q42009Q32009Q22009Q1Revenue 515.24429.05188.93134.24146.10129.45135.83136.59127.08Net Income 147.83 158.6434.9325.8933.4530.1932.3537.35 33.53主營(yíng)業(yè)務(wù)凈利潤(rùn)率29%37%18%19%23%23%24%27%26%R & D56.9449.7125.4417.6

21、516.8815.52 14.4614.5314.64研發(fā)投入占營(yíng)收比重11%12%13%13%12%12%10%11%11%Cash from Operating Activities 235.02218.3625.44153.16-搜狐搜狐430%5%10%15%20%25%30%35%40%01002003004005006002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率21%22%23%24%25%26%27%28%0204060801001201401602010Q12009Q42009Q32009Q22009Q1RevenueNet Incom

22、e主營(yíng)業(yè)務(wù)凈利潤(rùn)率44（In Millions of USD） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 53.6156.2425.907.1315.2414.9914.5812.2811.76Net Income -6.2219.02-4.13-0.600.14-2.66-1.03-2.40-0.13主營(yíng)業(yè)務(wù)凈利潤(rùn)率-12%34%-16%-8%0.9%-18%-7%-20%-1%R & D10.755.63 2.270.742.952.902.873.031.95研發(fā)投入占營(yíng)收比重20%10%9%10%19%19%2

23、0%25%17%Cash from Operating Activities 16.23 27.8528.435.89-2.25 7.322.577.09 -0.75金融界金融界45-20%-10%0%10%20%30%40%-1001020304050602009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率-25.00%-20.00%-15.00%-10.00%-5.00%0.00%5.00%-5051015202010Q12009Q42009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率46（In Millions of USD

24、） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 320.12409.07388.11271.3777.8482.9776.6581.6578.84Net Income 11.86 -114.20 -105.03 10.84-3.56 -1.45 5.583.257.65主營(yíng)業(yè)務(wù)凈利潤(rùn)率4%-28%-27%4%-5%-2%7%4%10%R & D18.0225.9122.7419.846.695.314.004.18 4.53研發(fā)投入占營(yíng)收比重6%6%6%7%9%6%5%5%6%Cash from Operating Ac

25、tivities 30.8525.609.28 39.33-1.905.4212.1211.16 2.15中華網(wǎng)中華網(wǎng)47-30%-25%-20%-15%-10%-5%0%5%10%-200-10001002003004005002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率-10%-5%0%5%10%15%-200204060801002010Q12009Q42009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率48（In Millions of USD） 2009200820072006 2010Q12009Q42009Q

26、32009Q22009Q1Revenue 164.03204.59232.81156.1042.0857.9534.3841.0830.62Net Income -37.37-33.49 10.6612.78-4.68 -3.37 -13.88 -7.12-13.00主營(yíng)業(yè)務(wù)凈利潤(rùn)率-23%-16%5%8%-11%-6%-40%-17%-42%R & D27.6442.5634.3021.407.547.557.22 7.025.85研發(fā)投入占營(yíng)收比重17%21%15%14%18%13%21%17%19%Cash from Operating Activities -0.96 -35.

27、71 -10.063.90-11.07 8.350.19-7.88-1.62TOMTOM49-50%-40%-30%-20%-10%0%-20-100102030405060702010Q12009Q42009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率-25%-20%-15%-10%-5%0%5%10%-100-500501001502002502009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率50房地產(chǎn)信息51（In Millions of USD） 20092008200720062010Q12009Q42009Q3200

28、9Q22009Q1Revenue 298.54154.49121.0256.0071.44117.0986.1663.4832.81Net Income 100.2839.5841.7318.1110.6138.9534.9119.357.07主營(yíng)業(yè)務(wù)凈利潤(rùn)率34%26%34%32%15%33%41%30%22%Cash from Operating Activities 129.1077.97-81.27-2.59-易居易居520%5%10%15%20%25%30%35%0501001502002503003502009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)

29、率0%5%10%15%20%25%30%35%40%45%0204060801001201402010Q12009Q42009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率53網(wǎng)游公司九城54（In Millions of CNY） 2009200820072006Revenue 760.521,711.491,279.61985.83Net Income -405.1596.83240.89312.48主營(yíng)業(yè)務(wù)凈利潤(rùn)率-53%6%19%32%R & D114.4473.8241.4330.78研發(fā)投入占營(yíng)收比重15%4%3%3%Cash from Op

30、erating Activities -106.09692.63616.60598.9155-60%-50%-40%-30%-20%-10%0%10%20%30%40%-1000-50005001000150020002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率九城56（In Millions of CNY） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 1,293.021,589.681,521.40408.50304.24276.01290.19364.07373.43Net Income

31、 859.311,113.591,136.35244.62185.25197.79197.74231.90231.89主營(yíng)業(yè)務(wù)凈利潤(rùn)率66%70%75%60%61%72%68%64%62%R & D113.3588.5426.9214.8033.7327.5424.5429.0032.28研發(fā)投入占營(yíng)收比重9%6%2%4%11%10%8%8%9%Cash from Operating Activities 751.761,109.701,481.79474.85-巨人巨人570%10%20%30%40%50%60%70%80%050010001500200020092008200720

32、06RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率0%10%20%30%40%50%60%70%80%0501001502002503003504002010Q12009Q42009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率58（In Millions of CNY） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 2,144.361,437.18689.1299.41625.04607.90589.99521.33425.14Net Income 1,037.20646.46361.95-2

33、7.94305.16270.85288.32262.59215.45主營(yíng)業(yè)務(wù)凈利潤(rùn)率48%45%53%-28%49%45%49%50%51%R & D270.36227.8454.1718.8977.8176.9171.5064.9856.96研發(fā)投入占營(yíng)收比重13%16%8%19%12%13%12%12%13%Cash from Operating Activities 1,279.53971.82536.9366.95332.97376.63326.33326.65249.92完美時(shí)空完美時(shí)空59-40%-20%0%20%40%60%-50005001000150020002500

34、2009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率42%44%46%48%50%52%01002003004005006007002010Q12009Q42009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率60（In Millions of USD） 2009200820072006 2010Q22010Q12009Q42009Q32009Q2Revenue 267.58201.8442.108.5377.7272.0770.7068.6866.60Net Income 144.68107.995.300.0142.0939.7

35、138.8637.7934.53主營(yíng)業(yè)務(wù)凈利潤(rùn)率54%54%13%0.1%54%55%55%55%52%R & D27.3523.866.741.967.756.936.896.797.51研發(fā)投入占營(yíng)收比重10%12%16%23%10%10%10%10%11%Cash from Operating Activities 187.80133.9235.511.65-暢游暢游610%10%20%30%40%50%60%0501001502002503002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率50%51%52%53%54%55%56%010203

36、040506070802010Q22010Q12009Q42009Q32009Q2RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率62（In Millions of CNY） 200920082007Revenue 4,787.153,346.712,296.47Net Income 1,452.97935.48591.90主營(yíng)業(yè)務(wù)凈利潤(rùn)率30%28%26%R & D339.75238.79136.35研發(fā)投入占營(yíng)收比重7%7%6%Cash from Operating Activities 2,010.511,144.49672.66盛大游戲盛大游戲6324%25%26%27%28

37、%29%30%31%0500100015002000250030003500400045005000200920082007RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率64電子商務(wù)65（In Millions of CNY） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 355.56331.95303.85255.9698.60100.4893.8881.0477.82Net Income 19.90-76.59-25.591.045.930.967.489.462.00主營(yíng)業(yè)務(wù)凈利潤(rùn)率6%-23%-8%0.4%6%0.9%

38、8.0%12%2.5%R & D58.1252.5848.6041.9218.1616.6815.2213.2013.03研發(fā)投入占營(yíng)收比重16%16%16%16%18%17%16%16%17%Cash from Operating Activities 69.01-14.0742.3576.55-e龍網(wǎng)e龍網(wǎng)66-25%-20%-15%-10%-5%0%5%10%0501001502002503003504002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率0%2%4%6%8%10%12%14%0204060801001202010Q12009Q42

39、009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率67（In Millions of CNY） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 1,988.011,482.011,199.11779.95586.72565.71545.43476.29400.58Net Income 658.97444.11398.32240.56190.44190.21188.52158.86121.39主營(yíng)業(yè)務(wù)凈利潤(rùn)率33%30%33%31%32%34%35%33%30%R & D308.45235.8

40、0177.30105.94100.7288.0880.7676.2963.32研發(fā)投入占營(yíng)收比重15%16%15%14%17%16%15%16%16%Cash from Operating Activities 1,027.59590.88485.58347.89攜程網(wǎng)攜程網(wǎng)6828%29%30%31%32%33%34%050010001500200025002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率27%28%29%30%31%32%33%34%35%36%01002003004005006007002010Q12009Q42009Q32009Q220

41、09Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率69（In Millions of CNY） 2009200820072006 2010Q22010Q12009Q42009Q32009Q2Revenue 773.95815.48799.28659.84248.60240.51213.94208.01183.20Net Income 112.5176.60103.5899.3454.3350.4446.3835.9120.77主營(yíng)業(yè)務(wù)凈利潤(rùn)率15%9%13%15%22%24%22%17%11%Cash from Operating Activities 214.46119.87193.

42、31185.23-前程無憂前程無憂700%2%4%6%8%10%12%14%16%020040060080010002009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率0%5%10%15%20%25%0501001502002503002010Q22010Q12009Q42009Q32009Q2RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率正保教育71（In Millions of USD） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 24.9915.5211.125.546.344.337.8

43、76.496.00Net Income 1.194.005.450.050.20-1.331.310.090.26主營(yíng)業(yè)務(wù)凈利潤(rùn)率5%26%49%0.9%3%-31%17%1%4%Cash from Operating Activities 1.619.066.961.35-正保教育720%10%20%30%40%50%60%0510152025302009200820072006RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率-40%-30%-20%-10%0%10%20%-202468102010Q12009Q42009Q32009Q22009Q1RevenueNet Income主營(yíng)業(yè)務(wù)凈利潤(rùn)率73無線增值空中網(wǎng)74（In Millions of USD） 2009200820072006 2010Q12009Q42009Q32009Q22009Q1Revenue 128.4193.8571.79106.7739.8133.6934.2931.4129.02Net Income 12.58-20.662.8324.693.172.024.503.552.52主營(yíng)業(yè)務(wù)凈利潤(rùn)率10%-22%4%23%8%6%13%11%9%R & D18.2715.1812.5412.036.844.224.834.374.85研發(fā)投入占營(yíng)收比重14%16%