無錫市滬安電線電纜有限公司介紹 英文

1CorporatePresentationMarch20102ThispresentationmaycontainstatementsregardingthebusinessofChinaHuAnCableHoldingsLtdanditssubsidiaries(the“Group”)thatareofaforwardlookingnatureandarethereforebasedonmanagement’sassumptionsaboutfuturedevelopments.本項內(nèi)容可能包含有關(guān)中國滬安電纜控股有限公司及其子公司（集團）未來戰(zhàn)略和未來發(fā)展管理的設(shè)想。Suchforwardlookingstatementsaretypicallyidentifiedbywordssuchas‘believe’,‘estimate’,‘intend’,‘may’,‘expect’,and‘project’andsimilarexpressionsastheyrelatetotheGroup.Forwardlookingstatementsinvolvecertainrisksanduncertaintiesastheyrelatetofutureevents.Actualresultsmayvarymateriallyfromthosetargeted,expectedorprojectedduetovariousfactors.牽涉到集團未來的設(shè)想內(nèi)容會以“認(rèn)為”“估計”“意圖”“可能”“希望”或“計劃”等典型表述加以區(qū)分。因其牽涉到將來的事件，該內(nèi)容將具有一定的風(fēng)險性及不確定性。考慮到各種因素實際結(jié)果可能與目標(biāo)，預(yù)想或計劃的內(nèi)容大相徑庭。Potentialrisksanduncertaintiesincludesuchfactorsasgeneraleconomicconditions,foreignexchangefluctuations,interestratecharges,commoditypricefluctuationsandregulatorydevelopments.SuchfactorsthatmayaffecttheGroup’sfuturefinancialresultsaredetailedinourlistingprospectus,listedinthispresentation,orinthemanagementdiscussionandanalysissectionofthecompany’sreportedresultandfilingwiththeSGX.Thereaderand/oraudiolisteneriscautionedtonotundulyrelyontheseforward-lookingstatements.Wedonotundertakeanydutytopublishanyupdateorrevisionofanyforwardlookingstatements.潛在風(fēng)險和不確定性因素包括例如國際經(jīng)濟環(huán)境，外匯波動，利率，物價波動以及監(jiān)管發(fā)展。這些影響集團未來財務(wù)業(yè)績的因素將在我們的計劃書，報告，管理討論中由公司研究部門報告并提交給SGX（新加坡證券交易所）。報告讀者不應(yīng)過度依賴計劃內(nèi)容。本公司不能保證出版這些計劃的更新或修正內(nèi)容。CautionaryNoteonForward-LookingStatements

免責(zé)聲明3Content

目錄InvestmentMerits

投資價值BusinessOverview企業(yè)概貌FinancialOverview財務(wù)狀況Prospects遠(yuǎn)景PeerComparison同行比較InvestmentMerits

投資價值5InvestmentMerits

投資價值ChinaHuAnprovidesinvestorswithexposuretothegrowingpowerinfrastructureandrenewableenergiessectorinChina中國滬安將公布給投資人中國電力基礎(chǔ)設(shè)施的以及新能源部門的發(fā)展情況。China’srapideconomicgrowthandincreasinginfrastructureinvestmentbythegovernmentwillunderpinrobustdemandfortheGroup’scableandwireproducts中國經(jīng)濟的迅猛發(fā)展和中國政府對電力基礎(chǔ)設(shè)施的大力投資將會極大的推動對集團電纜電線產(chǎn)品的需求。Extensivesalesanddistributionnetworkwithover4,000customersacross24provincesandcitiesinChina擁有廣泛的銷售網(wǎng)點和銷售網(wǎng)絡(luò)，超過4000家客戶橫跨中國24個省市。Penetrationintothehigh-endcablesmarketsegmentwillboosttheGroup’sprofitability進入高端電纜市場將極大的促進集團利益增長LowPEcomparedtoChina-listedpeersandotherSGX-listedS-chips*跟中國同類公司以及SGX其它龍籌股相比更低的PE（市盈率）*CIMB-GKResearchBUSINESSOVERVIEW

企業(yè)概貌7CHINAHUANCABLEisoneoftheTop10CableandWireManufacturersinChina滬安電纜是中國排名前十的電線電纜制造企業(yè)ClientelefocusedonChina’sinfrastructure,construction,transportandenergysectors,includingbellwethercompaniese.g.StateGridCorporationofChina;participationinimportantstateprojects客戶主要集中于基礎(chǔ)設(shè)施，工程制造，運輸以及能源部門，包括了類似于中國國家電網(wǎng)公司在內(nèi)的許多行業(yè)內(nèi)龍頭企業(yè)，參與了許多國內(nèi)重要的工程Strongbrandrecognitioninmarket,backedbystrongR&D,reliableproductqualityandpossessionofwiderangeofaccreditations較強的市場品牌認(rèn)知度，以科研技術(shù)為支撐，依靠高品質(zhì)的產(chǎn)品贏得了廣泛的信賴。Basedincable/wirehubofChina,Yixing(JiangsuProvince),easyaccesstolargepoolofrawmaterials依托宜興（中國江蘇）電線電纜中心，較易大量儲備原材料。Introduction

企業(yè)介紹8IntegratedBusinessModel整合產(chǎn)業(yè)鏈Asanintegratedcable/wiremanufacturer,ChinaHuAnisabletoachieveconsistentqualitywithlowermanufacturingcostsandhigheroverallmargins作為一家綜合的電線電纜生產(chǎn)商，中國滬安能夠以更低的成本保持始終如一的質(zhì)量，獲取更大的利潤ProductionandsaleofCopperRods銅材料的生產(chǎn)銷售ShenhuanCopper申環(huán)銅業(yè)Productionandsaleofplasticcablematerials塑料電纜原料生產(chǎn)銷售ShenhuanManufacturing申環(huán)塑業(yè)ProductionandsaleofAluminiumRods鋁材料的生產(chǎn)銷售ShenhuanAluminium申環(huán)鋁業(yè)Productionandsaleofbroadrangeofcablesandwires電線電纜的生產(chǎn)和銷售WuxiHuAn

無錫滬安Researchanddevelopmentofproducts,materials,designandtechnology進行產(chǎn)品，原料，等技術(shù)的研發(fā)HuAnResearchCenter

滬安研究中心9OperationsModel

經(jīng)營模式10ProductRange產(chǎn)品范圍

BASIC低端LowtoMid-VoltagePowerCables低壓到中壓電纜

Powergrid,generationplants,factories,largebuildings電網(wǎng)，發(fā)電站，工廠，大樓AerialCables

架空電纜

Insulatedanduninsulated;longdistanceandhigh-voltagepowertransmission絕緣非絕緣;遠(yuǎn)距離高壓傳輸PlasticInsulatedWires塑料絕緣線Low-voltagepowerdistributionandelectricaldevices低壓電氣設(shè)備ControlCables

控制電纜

Low-voltagecontrolsystems低壓控制系統(tǒng)RubberSheathInsulatedCables橡膠護套絕緣電纜Mining,shipping,movablemachinery礦用，船用，移動，機械SpecialWires&Cables特殊電線電纜Customisedwithspecialcharacteristicsforhighlyspecialisedindustries按客戶要求制造專業(yè)的特殊電纜MID-RANGE中段HIGH-END高端Ultra-HighVoltageCables超高壓電纜TheGroupisdevelopingcapabilitiesinthisarea集團正致力于該領(lǐng)域的開發(fā)11ProductionFacilities生產(chǎn)裝備Integratedproductionfacilities完整的生產(chǎn)設(shè)備Companyhasbeenconsistentlyincreasingproductioncapacityyearly公司不斷地擴大產(chǎn)能Possessestechnologyforlarge-dimensionorultra-longproducts掌握大規(guī)格和超高壓電纜產(chǎn)品技術(shù)Alsopossessestechnologyforhighlyspecificcustomisation同時掌握高技術(shù)特殊定制規(guī)格電纜技術(shù)12Output產(chǎn)量FY2006FY2007FY2008FY2009Cable電纜16,820km18,310km23,320km45,792kmWire電線39,727km32,124km55,122km52,135kmCopperRods銅--8,224t4,225tAluminiumRods鋁--7,902t5,549tPlasticMaterials塑料--4,314t9,098t13ProjectTrackRecord

參與工程14CustomerBase客戶范圍Widecustomerbaseofover4,000companiesinpowerinfrastructureandotherindustries在電力設(shè)備和相關(guān)行業(yè)擁有超過4000家的客戶資源Extensivesalesnetworkacross24provincesandcitiesacrossthePRC,suchasJiangsu,Shanghai,Zhejiang,AnhuiandHubei在全國包括江蘇，浙江，安徽，湖北等24個省市擁有廣泛的銷售網(wǎng)絡(luò)BetweenFY2006toFY2008,over70%oftotalsalesweregeneratedfromrepeatcustomers2006到2008財年，70%的銷售來自于回頭客15Inadditiontotheabove,theGrouphasalsoobtainedvariousqualificationsandaccreditationswhichcertifythatitsproductsareincompliancewithrequisiteindustrystandardsforuseincertainindustries,suchaspowergeneration,powersupply,communications,ship-building,realestate,andcoalmining.Itisalsoaqualifiedsuppliertoseveralmajorcompaniesintheinfrastructuresector.

此外，集團還獲得了各類認(rèn)證和資質(zhì)，產(chǎn)品符合各行業(yè)的標(biāo)準(zhǔn)，例如發(fā)電，供電，電訊，造船，房地產(chǎn)以及煤礦。同時本公司還是一些主要基礎(chǔ)設(shè)施部門的供應(yīng)商。BrandQuality品牌資質(zhì)16R&DCapabilities研發(fā)能力OurR&Ddepartmentisrecognisedbystateashigh-advancedtechnologyenterprise研究部門被授予國家高新技術(shù)企業(yè)ConsistentlydevelopedandintroducednewproductstothemarketAbout10newproductsperyearonaveragesince2006一貫以來向市場引進新產(chǎn)品自2006年以來每年超過10項新產(chǎn)品Newlydevelopedproductshavebeensuccessfullycommercialisedinvariousindustrialsectorsalternativepowergeneration,petrochemicals,shipbuilding,aviation,mining,etc新開發(fā)產(chǎn)品成功的在多個行業(yè)實現(xiàn)商業(yè)化新能源發(fā)電，石油化工，造船，航空，礦用等。WonnumerousawardsforitsR&Dcapabilities11patents+additional12patentapplicationsacceptedforfurtherreview贏得多項科研獎項11項專利以及12項專利申請已受理Wellsupportedbygovernment,recognisedunderthe“StateTorch”programmeandtie-upswithhigherlearninginstitutes政府大力支持，參加國家火炬計劃與多家科研單位合作17Leadingintegratedcableandwiremanufacturerwithstrongbrandname(“ShenHuan”)

商標(biāo)品牌（申環(huán)）在電纜電線行業(yè)處于領(lǐng)軍地位Establishedcustomerbaseandwidesalesanddistributionnetwork

建立了廣泛的客戶資源和銷售網(wǎng)絡(luò)Over4,000customersacross24provincesandcitiesinChina

橫跨全國24個省市超過4000家客戶Extensiveaccreditationsandstrongtrackrecord

多個認(rèn)證資質(zhì)和優(yōu)秀的業(yè)績allowstheGrouptosecuresaleswithestablishedcustomersandpenetrateintospecializedsectors保證集團獲得客戶資源進入特殊部門Involvementinvariousmajorprojects,eg.2008BeijingOlympicsGames參與各類主要工程，例如2008北京奧運會StrongR&Dandproductdevelopmentcapabilities

強大的科研開發(fā)能力Introducedanaverageof10productsperyear

平均每年引進10種新產(chǎn)品Growingportfolioofpatents

專利產(chǎn)品不斷增多Experiencedandcommittedmanagementteam

經(jīng)驗豐富穩(wěn)定的管理團隊SummaryofKeyStrengths總結(jié)主要優(yōu)勢FINANCIALOVERVIEW

財務(wù)概況19RMB神mill息ionRev止enu魯eC蔑AGR年收益斃增長率20.伙3%Net梳Pr事ofi雖tC購AGR年凈利潤慢增長率42.換7%GPM15.5%15.9%15.9%17.6%NPM5.8%5.7%6.7%9.7%Rev商enu獨e&巧Pr陵ofi鏈tab碌ili礙ty銷售及利傭潤率Gro膽wth遭Fa汪cto剩rs增長因師素-Hi袖ghe漂rp鈔rop須ort殿ion揉of嶼hi液ghe鉆r-m死arg記in高增長比組率pro去duc演ts產(chǎn)品-Raw霞mat紅eria征lpr校ice愧cont彈rol原材料縱價格控?fù)苤芁ow畝er牌fin曾anc遍ee篇xpe靜nse表s低財政支競出Tax笨ince允ntiv閉es捐稅鼓練勵20Reve安nue嚇Brea泛kdow少n銷售額帳劃分FY2丘009饑Re趣ven立ue饅by同Pro衡duc繞t*20悶09財年產(chǎn)品跨收益FY2咸009兔Re懷ven絡(luò)ue享by慈End和In啊dus掉tri鞠es條200抓9財年高印端產(chǎn)業(yè)*Pr界ior偏toF裝Y200叼8,a璃llr拼even覆uew莊asd喚eriv莖edf敢rom檔cabl屬ean號dwi最rep烈rodu美cts順only劫2008財年利潤煌全部來自夏于電纜電帽線**因Oth督er飽ind朝ust損rie榜s莖inc爐lud維ec滋eme揀nt,扶el貓ect夏ron含ics圈,m竊ach瓶ine根ry,雁an獅df竭act送ori練es枯eng晚age厚di晨na沈ho珍st森of紙pro電duc縱tio訓(xùn)na察cti黃vit岔ies其它行閣業(yè)包括耗水泥，雪電子，干機械等挖制造業(yè)那。21(RMBmillion)Asat31Dec09Asat31Dec08CurrentAssets流動資產(chǎn)732.99559.23Non-CurrentAssets固定資產(chǎn)161.22145.29TotalAssets總資產(chǎn)894.21704.52CurrentLiabilities流動負(fù)債469.75482.07Non-CurrentLiabilities固定負(fù)債0.901.93TotalLiabilities總負(fù)債470.65(1)484.00TotalEquity全部股本423.56220.53Bala篩nce艷Shee價tHi壤ghli閥ghts資產(chǎn)負(fù)債光表NetGearing(2)

凈獲利比率35%114%QuickRatio速動比率120%104%CurrentRatio

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cablemarket

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