Professional Documents
Culture Documents
2008 12 18
300
37.28
20.60
11297.66
2045.10
2015.69
7412.47
2826.32
21.9%
17696
12696
081201
080902
080612
080318
071218
7696
300
1Q08-4Q10
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
(8621)61038325
zhangy@gjzq.com.cn
22696
PS
(8621)61038257
zhaoli@gjzq.com.cn
969
15A 200011
2009
A 08EPS
8.58
7.57
35.21
5.38
14.52
531.35
150.46
35.00
360.32
26.80
0.316
0.525
1.352
0.347
0.675
EPS
09%08
09EPS
08PE
09PE
23.73%
15.05%
22.61%
8.00%
32.74%
0.391
0.604
1.658
0.375
0.896
27.15
14.42
26.04
15.50
21.51
21.94
12.53
21.24
14.36
16.21
2009
.............................................................. 6
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................................ 27
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1 .......................................................................... 6
2..................................................................................... 6
2009
3 .......................................................................... 7
4 ................................................................................. 8
5group carrefour ........................... 8
6............................................................ 8
7 .......................................................................... 9
8 ...................................................................... 9
9............................................................ 9
10.......................................................................... 10
11 ............................................................................. 10
12 ...................................................................... 11
13 .................................................................................... 11
14.......................................................................... 11
15 .................................................... 12
16 ......................................... 12
17............................... 13
18 ................................................................................. 13
19 .................................................................................... 13
20 1993 ....................................... 14
21 ............................................................................. 15
22 ...................................................................... 15
23 ............................................................... 16
24 .................................................................. 16
25.......................................................................... 17
26Carrefou .................................................................. 18
27Carrefour ............................................... 18
28 Carrefou ............................................ 18
29Carrefour .......................................................... 19
30 ............................................................... 19
31Carrefou ......................................................................... 20
32 ...................................................................... 20
33 ........................... 22
34 ............................................................... 23
35 .................................................................. 23
36 ........................................................... 24
37 .................................................................. 25
38.......................................................................... 25
39.......................................................................... 25
40 ............................................................................. 25
41/-........................................... 26
2009
42/ ........................................ 26
43 ............................................................................. 26
44 ............................................................................. 26
45CPI ........................................................ 27
46 ............................................................... 27
47 ........................................................... 28
48...................................... 28
49 CPI ......................................................................... 30
501987-1991 ................................... 31
511987-1990 ................................... 31
52.......................................................................... 33
53 ............................................................................. 33
54/......................................................................... 33
55/......................................................................... 33
56 ........................................................... 34
57.......................................................................... 34
58A ROE ....................................................................................... 34
59H ROE....................................................................................... 34
60 PE 09 ........................................ 35
61 PS ....................................................................... 35
62 ................................................................................. 36
63 ........................................................................................ 36
2009
2009
9
4
3000 -4000
2009
60%
5group carrefour
2001
200 2
2003
2004
2005
2006
2007
H yperma rkets
59%
59%
59%
58%
59%
6 1%
62%
S uperma rkets
18%
18%
20%
18%
18%
2 2%
22%
harf discou rt
7%
8%
7%
8%
9%
1 0%
11%
o ther s tores
16%
15%
14%
16%
14%
6%
6%
5000
2000
100
24
20%-30%
10%-15%
2009
2007
21% 16.8%
105191 58%
17%
06
15%
8
3 5.0 %
3 0.0 %
2 5.0 %
2 0.0 %
1 5.0 %
1 0.0 %
5.0 %
0.0 %
2 0 03
20 0 4
2 00 5
20 0 6
2 00 7
9
90%
80%
70%
60%
60%
65%
50%
48%
52%
45%
40%
39%
42%
30%
25%
20%
21%
10%
0%
1999
2000
2001
2002
2003
2004
2005
2006
2007
2009
2000
30% 25.4%
07 11.2%
1973
50
45
40
35
30
25
20
15
10
5
0
4000
2000
0
2002
2003
2004
2005
2006
2007
20
06
6000
20
04
8000
20
02
10000
19
96
19
94
12000
19
92
14000
20
00
16000
11
19
98
10
19
90
10
2009
12
12000
13
250
203.79
10000
200
8000
150
148.27
6000
100
4000
50
2000
0
2002
2003
2004
2005
2006
2007
2002
2006
14
949800 60%73%90.2%
11
2009
15
16
20%- 30%
12
2009
17
1 10
2
3
4 10%
1
22 50-500 100
8 5%
1% 60%
3
1 400
2 130-40
3
4
18
12
19
2001
2002
10
4
6
3
4
1
0
0
2000
2001
2002
2003
2004
2000
2003
2004
13
2009
20 1993
1995
8%-15%
100
25% 13%
14
2009
07 15%
18%-19%
21
25%
22
23.0%
23.1%
23.4%
20%
15%
13.9%
15.0%
13.6%
10%
5%
0%
2005
2006
2007
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
TESCO
7 07 478 08 561
20%-30% 30%-40%
20%-25% 15%-25%
15
2009
23
TESCO
07
110
100
85
75
51
37
20
478
111
57
99
76
32
375
07
19
29
15
1
8
4
5
81
13
10
7
17
14
61
08
20
20
10
14
6
8
5
83
15
15
15
20
13
78
18.18%
20.00%
11.76%
18.67%
11.76%
21.62%
25.00%
17.36%
13.51%
26.32%
15.15%
26.32%
40.63%
20.80%
24
96
96
96
TESCO
98
96
99
r
r
r
r200 1
r
r
r 07
r
r
r
r
r
r
r
r
r
r12
r
r
r
04
++
76.15%
16
2009
25
18
6
4
4
12
0
0
0
4
0
0
9
1
9
23
11
3
11
0
2
3
2
12
14
19
11
14
7
3
9
2
5
3
4
2
7
6
3
3
1
2
2
1
1
4
3
0
8
0
0
0
2
4
0
0
2
7
32
7
15
10
4
7
3
1
3
20
12
11
10
0
4
3
3
1
1
3
69
45
82
69
55
27
22
23
18
11
12
30
80
07
5-10
07 2 07
2
12
17
2009
7-9
2-3
5 1-3
3
95
07 112
05 5
56
26Carrefou
2003
2004
20 05
2006
200 7
Hy permarkets
321
464
569
723
848
Su permarkets
10
harf discourt
15
42
56
61
63
totle
336
506
625
784
911
50.60%
23.52%
25.44%
16. 20%
27Carrefour
3000
28 Carrefou
30%
27.7%
2500
25%
20.3%
2000
19.6% 20%
1500
15%
1000
10%
500
5%
0%
2004
2005
2006
2007
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
2004
2005
2006
2007
05 06
18
2009
29Carrefour
CHIN A
Hypermarkets
Supermarkets
Hard Discount stores
Total
SOUT H KOREA
JAPA N
HONG KONG
TAIW AN
INDO NESIA
THAI LAND
MALA YSIA
SING APORE
ASIA
Hypermarkets
Supermarkets
Hard Discount stores
Total
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
14
20
24
24
32
40
14
6
20
12
2
17
6
3
1
4
21
1
7
5
1
4
23
5
9
6
1
24
20
1
0
24
7
11
6
1
24
22
3
0
26
8
15
6
1
32
25
4
0
28
10
17
6
1
55
95
27
7
0
31
11
19
7
2
70
8
225
303
31
0
0
37
20
23
8
2
90
0
255
345
0
0
0
47
29
24
10
2
112
7
3
56
6
164
226
27
8
0
34
15
20
8
2
275
387
0
0
0
48
37
27
12
2
39
59
80
94
105
123
144
238
59
80
94
105
0
123
55
199
191
8
225
424
202
39
170
6
164
340
255
457
275
513
30
1992 7
1992 7- 1995 10
6 5 1 2 51
30
1995 10
51% 30
1996 62 5 1-2
1-2
0 3
65 % 3
0 4 12 11 1 000 30
6000 50
19
2009
31Carrefou
32
20
2009
4 40
2006 15
16.8% 1438 2007 15
18% 1825 28%
54% 70%
TESCO
21
2009
8%-12%
15%
33
2005
7.24%
8.95%
13.42%
18.19%
12.21%
2 006
7.14 %
1 0.63%
1 5.75%
1 9.01%
1 3.26%
2007
8.43%
12.30%
16.54%
21.01%
14.60%
22
2009
60
43%
34
35
9%
43%
48%
0%
5%
10%
15%
20%
25%
30%
35%
0%
20%
40%
60%
80%
100%
120%
40
31
3.6 4
23
2009
36
1
14.29%
2/
14.20%
3
2.14%
30.87%
0.00%
4
54.40%
5IT
11.61%
66.01%
3.13%
1119.57
24
2009
10 9.6% 10.5%
11.8% 4.7%
37
38
60
100
50
80
40
60
30
40
20
20
10
20
07
-0
20 1
07
-0
3
20
07
-0
5
20
07
-0
20 7
07
-0
9
20
07
-1
20 1
08
-0
1
20
08
-0
20 3
08
-0
5
20
08
-0
20 7
08
-0
9
20
07
-0
1
20
07
-0
20 3
07
-0
5
20
07
-0
7
20
07
-0
9
20
07
-1
1
20
08
-0
20 1
08
-0
3
20
08
-0
5
20
08
-0
7
20
08
-0
9
(20)
(10)
(20)
(40)
39
40
70
40
35
30
25
20
15
10
50
40
30
20
10
0
20
07
-0
1
20
07
-0
3
20
07
-0
5
20
07
-0
7
20
07
-0
9
20
07
-1
1
20
08
-0
1
20
08
-0
3
20
08
-0
5
20
08
-0
7
20
08
-0
9
(10)
(20)
5
0
(5)
(10)
20
07
-0
20 1
07
-0
20 3
07
-0
20 5
07
-0
20 7
07
-0
20 9
07
-1
20 1
08
-0
20 1
08
-0
20 3
08
-0
20 5
08
-0
20 7
08
-0
9
60
25
2009
41/-
42/
25%
35%
30%
20%
25%
15%
20%
15%
10%
10%
5%
5%
0%
20
05
20 -03
05
20 -06
05
20 -09
05
20 -12
06
20 -03
06
20 -06
06
20 -09
06
20 -12
07
20 -03
07
20 -06
07
20 -0 9
07
20 -12
08
20 -03
08
20 -06
08
-0
9
20
05
20 -03
05
20 -06
05
20 -0 9
05
20 -12
06
20 -03
06
20 -06
06
20 -0 9
06
20 -12
07
20 -03
07
20 -06
07
20 -0 9
07
20 -12
08
20 -03
08
20 -06
08
-0
9
0%
-0
9
08
08
-0
7
20
-0
5
20
08
20
08
-0
3
-0
1
20
08
07
-1
1
20
-0
9
-0
7
07
20
07
-0
5
20
07
20
20
07
-0
3
-0
1
-0
9
07
08
20
20
20
08
-0
7
-0
5
08
-0
3
-0
1
08
20
-1
1
08
20
07
07
-0
9
20
20
07
-0
7
-0
5
20
-0
3
07
20
20
07
-0
1
07
20
101
100
99
98
97
96
95
94
93
92
91
20
98
97
96
95
94
93
92
91
90
89
44
20
43
CPI CPI
CPI CPI
CPI
26
2009
45CPI
45
40
35
30
25
20
15
10
5
0
10
CPI 9
8
7
6
5
4
3
2
1
0
2008- 2008- 2008- 2008- 2008- 2008- 2008- 2008- 2008- 200801
02
03
04
05
06
07
08
09
10
11 CPI
CPI 09
1.8 08 4 5%
10%-15%
46
08 2%
27
2009
47
45%
40%
35%
30%
25%
20%
15%
10%
5%
20
08
20
06
20
04
20
02
20
00
19
98
19
96
19
94
19
92
19
90
19
88
19
86
19
84
0%
48
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
6%8%
28
2009
08
23
CPI
CPI CPI
29
2009
49 CPI
7
CPI YOY
6
5
4
3
2
1
0
2008F
09Q1
1.5
09Q2
09Q3
2.5
1.8
09Q4
2009F
08 1
1 30-40%
08 1
09 1 09 1
30 1
09 23
30
F T
S
E
2009
501987-1991
115
95
75
55
35
15
-5
-25
-45
511987-1990
40
20
-20
-40
-60
31
2009
200 80
07 4.42%
ROE
32
2009
52
21000
2005
2006
2007
2008H
18000
15000
12000
9000
6000
3000
53
%
2003
12.1
12.6
16.6
2004
11.3
12.5
14.8
11.4
11.4
10.8
2005
12.1
11.2
16.1
13.9
12.2
10.9
12.2
2006
12.5
12.1
6.7
13.6
12.0
10.5
13.3
2007
12.8
13.0
7.6
15.0
13.3
11.3
14.6
2008H
13.9
13.4
8.8
14.1
10.3
54/
9%
8%
7%
6%
5%
4%
3%
2%
1%
0%
2003
55/
8%
7.59%
7%
6%
6.00%
5%
4%
3.46%
3%
2%
1%
0%
2004
2005
2006
2007
2008H
2004
2005
2006
2007
33
2009
56
57
%
2004
23.3%
16.9%
64.9%
18.6%
2005
15.5%
31.9%
18.7%
50.9%
31.7%
9.0%
6.1%
18.3%
13.1%
2006
9.9%
14.9%
20.2%
31.7%
15.3%
48.5%
23.3%
11.5%
42.2%
2007
24.5%
10.0%
19.6%
38.0%
9.8%
32.0%
37.4%
25.2%
54.5%
2008H
30.5%
19.6%
25.7%
22.8%
16.0%
33.5%
24.5%
19.5%
2004
89.2%
31.7%
50.8%
46.1%
2005
2.1%
11.2%
21.8%
52.4%
2.5%
50.4%
50.6%
55.5%
33.8%
2006
32.6%
0.8%
38.2%
29.0%
-8.0%
18.3%
67.1%
27.5%
82.9%
2007
25.1%
11.1%
9.2%
41.3%
146.6%
41.4%
53.3%
21.8%
90.0%
2008H
34.0%
62.1%
107.7%
104.4%
-17.9%
52.8%
54.3%
19.2%
58A ROE
50
59H ROE
25
45
20
40
35
15
30
25
10
20
15
10
5
0
2005
2006
2007
20083Q
0
2003
2004
2005
2006
2007
2008H
34
2009
PE PB
PS
60 PE 09
25.0
20.0
15.0
10.0
5.0
0.0
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
61 PS
WMT US EQUITY
TGT US EQUITY
182.16
207.00
873.99
506.57
265.82
135.18
560.51
484.81
106.88
3922.55
752.78
182.16
182.10
240.93
506.57
150.46
35.00
531.35
360.32
26.80
2209.21
750.71
2008-12-1
2.42
9.3
2.25
6.23
7.96
36.39
8.67
5.68
15.8
53.01
29.54
PS
08
0.06
0.09
0.47
0.35
0.08
0.89
0.56
0.31
0.73
0.55
0.35
09
0.05
0.08
0.39
0.30
0.07
0.69
0.46
0.26
0.54
0.51
0.34
PS
35
2009
62
63
560.51
265.82
135.18
484.81
106.88
531.35
150.46
35.00
360.32
26.80
11-28
8.58
7.57
35.21
5.38
14.52
2007
0.268
0.714
1.314
0.417
0.91
EPS
2008
0.316
0.525
1.352
0.347
0.675
2009
0.397
0.604
1.628
0.375
0.896
2007
50.1
21.19
N/A
60.05
N/A
PE
2008
27.15
14.42
26.04
15.50
21.51
2009
21.61
12.53
21.62
14.36
16.21
36
2009
612 20%
612 10%20%
612 -10%10%
612 10%20%
612 20%
36 5%
36 -5%5%
36 5%
37