Fact Book 2003
Shanghai Securities Market
Historical Reference
Shanghai was the first city in Mainland China for stock trading and stock exchange to emerge. The history of stock trading can be traced back to the 1860s; and in 1891, the establishment of the Sharebrokers Association formed the embryonic form of Mainland China’s stock exchange. Later in 1920 and 1921, the Shanghai Securities & Commodities Exchange and Shanghai Huashang Securities Exchange opened for business. By the 1930s, Shanghai had become the financial center of the Far East where Chinese and foreign investors could trade stocks of Chinese and foreign companies, corporate bonds, government bonds and futures. In 1946, the Shanghai Stock Exchange Co., Ltd. was founded on the basis of the Huashang Securities Exchange. The exchange ceased operation in 1949.
Since 1980, China’s securities market gradually developed under the theoretic guidance of Deng Xiaoping and calls for reforms and opening the Chinese economy to the outside world. In 1981, government bonds re-emerged; and in 1984, Shanghai and other regions began to issue shares and corporate bonds. On November 26, 1990, Shanghai Stock Exchange (hereafter referred to as “SSE”) came into existence and officially opened for business on December 19. Compared to when it started, the Exchange has gone through many important milestones, most noticeably,
I. Market capitalization expanded exponentially. By the end of 2003, the SSE has a total of 913 listed securities and 780 listed companies. As a collectivity, these bonds and stocks have a total market capitalization of RMB 3,009.7 billion yuan. The number of investors with accounts reached 36,436 million. In 2003, a cumulative RMB 56.096 billion was raised through the SSE stock and rights issues. II. Upgraded infrastructure. For example, the Exchanged installed a telecommunications back-up system and improved system reliability on manual operations and satalite communications to over 99.9% III. Improved corporate governance and self-regulation. The Exchange adopted a standardized business process in all its business lines and created a self-regulatory framework that governs all listed companies, member institutes and market activities.
Categories of Securities
Securities listed on SSE fall into three categories: stocks, bonds and funds. Stocks are further divided into A Shares and B Shares with A Shares designated for domestic investors and B Shares for all investors. In 1990, the first batch of eight A Shares was listed; and in 1992, the first B Share was listed. Following the listing of a large number of state-owned enterprises and high quality private enterprises and three forms of foreign invested company, the Shanghai securities market began to show its important role as a barometer of national economy.
1 By the end of 2002, a total of 705 A Shares and 54 B Shares had been listed. Bonds traded in SSE include government bonds, corporate bonds and convertible bonds. The SSE’s T-bond market is the most buoyant secondary market for government bond trading in Chinese Mainland. In 1993, the launch of T-bond repurchase helped to bring more product variety to the market and stimulated more trading and investment. By the end of 2002, the SSE had a total of 17 spot T- bond, 11 T-bond repurchases, 11 corporate bonds and 3 convertible bonds. In 1998, 4 securities investment funds were issued and listed in Shanghai, opening a new chapter in the development of the funds market. By the end of 2002, 25 listed securities investment funds were listed and traded on the SSE.
2003 Market Review
Trading
In 2003, the total turnover on the SSE was RMB 8,291.156 billion, up 70.85% from the previous year, of which tradings on stocks was RMB 2,082.414 billion, or 22.79% of the total turnover. The break down of the trading volume is as follows: A share trading amounted to RMB 2,054.124 billion, accounting for 98.64% of the total equities trading, B shares traded 28.289 billion RMB, or 1.36% of the total. Trading on T-bonds reached RMB5,848.19 billion,which accounts for 70.65% of the total securities trading, of which RMB 550.036 billion was spot trading and RMB 5,298.154 billion bonds repo. Total trading volume of funds was RMB 36.214 billion. The daily turnover of stocks were RMB 8.641 billion and bonds RMB 25.557 billion, which is 20.75% and 96.17% higher than the previous year respectively. In 2003, The daily average turnover of funds trading was RMB 0.15 billion, slightly trail behind last year’s figure. Calculated only the tradable shares, the turnover ratio of A Shares and B Shares were 268.58% and 64.25% respectively.
The SSE 180 index was 2527.03 at the beginning of the year and closed at 2828.8 by the end of the year, with the highest at 3122.16 and lowest at 2453.32. Over the one year period, the Index rose 11.94% from the previous year, fluctuating within a band of 27.26%. The SSE composite index opened at 1347.43 and closed at 1497.04 with the peak at 1649.6 lowest at 1307.4. The composite index rose by 11.10% in the year, with a volatility of 26.17%. The B Share index opened at 113.4 and closed at 104.94 with the peak at131.41 and lowest at 96.23. The B share index shed 7.46% from the previous year level with a volatility of 36.56%.
In 2003, the SSE had a total of 36,436,000 investor accounts, of which 35,266,000 were A Share accounts, up 2.48% from one year ago, 980,600 were B share accounts, which increased 1.70% from the previous year; 189,400 were institutional investors, which is 4.66% higher than the previous year.
2 Securities Issuance and Listing By the end of 2003, Shanghai Stock Exchange has a total of 780 listed companies, of which 67 were new listings. A total of 824 stocks were listed in the Exchange, with a market Cap reaching 3.0097 trillion RMB, or 18.66% higher than last year. Market capitalization of tradable shares was 827.4 billion RMB, which increased by 10.81%. As a collectivity, companies listed on SSE have 417 billion shares, of which 115.7 billion shares are tradable shares which account for 27.75% of the total.
In 2003, a total of 56.096 billion RMB was raised by stock offering in the Shanghai Stock Exchange, of which 45.35 billion RMB were A share IPOs, 12.27% down from the previous year level，10.390 billion RMB were second placements, which increased by 8.46% compared to the previous year figure. The B share market also met its first directional secondary placement, raising 43 million USD after three year’s suspension.
Infrastrucure In 2003, the Shanghai Stock Exchange continued to improve its technology infrastructure, reinforcing compliance of system administration to ensure security, efficiency orderly operations.
Safe Operations Ensuring reliable and secure system operations is one of the priorities for Shanghai Stock Exchange. The Exchange implemented an elaborate management system on operational reliability, with clearly designated responsibilities at the job assignment level. At the same time, the Exchange drafted business process manuals and operational guidelines to improve risk management and immergency response ability. One way of achieving the operational safty goal is to continuously updade technology and use system automation to replace manual operations. Since the installation of the system, the defect ratio in manual operations, satallite communications and ground telecommunications was further reduced.
II. Compiled technology white-paper for better inforcement of network communications standard In order to standardize the telecommunications infrastruture and operations management, ensure system reliability and reduce technical risks, the Exchange compiled the SSE White Paper on Telecommunications Network Technology, which provides a framework of system safety indicators. The benchmark indicators set up by the White Paper have been put into trial test. The White Paper provides strong incentive to the member institutes to measure their own telecommunications reliability and quality level and work for continuous improvement.
III. Successful Completion of Back-Up System
3
Following almost six months intensive efforts, the Exchange completed its telecommunications back-up system, linking the Exchange with 173 member institutues in 2895 brokerage outlets with satallite communications network, DDN and dial-up system. To date, all member institutes have upgraded their system as required and improved ability in system operations and risk prevention. IV. Progress of Building the Catastrophy Response Center and other Back-Up systems The Exchange has completed the scheduled work on technology infrastructure, which is an important part of the disaster response center, and will go into operations at the beginning of 2004. To date, the local centralized back-up center has been built with another remote data back-up center under construction. These infrastructure facilities will further enhance the trading platform’s disaster prevention and data back-up storage capability.
Operations I. More Forward-Looking Oriented Research for Financial Innovations 1. Research on Market Innovations. Over the past year, SSE commissioned researches were heavily market need oriented. These researches focused on improving legal infrastructure and market innovations. The SSE research team also proposed many innovation policy initiatives on ways to improve quality of listed companies, developing the exchange traded bond market, developing new products, improving trading, expanding financing channels for member institutues and improving market supervision. 2. Financial Innovation In the area of product innovations, the Exchange successfully launched the 2-day T-bond repo, completed business plan on open-end repo, ETF design, ETF subscription/redemption plan and trading rules, selection of partners from fund management companies and detailed implementation plans on share placement and new share warranty. In the area of system innovations, the Exchange launched its large volume trading system which provides integrated trading facilities to its member institutes including offering intent, transaction report, order matching, system notice and member institute negotiation. To date, 47 large volume transactions have been completed in the system. The Exchange also decimalized the quoting price on its fund products from originally 0.01 yuan to 0.001 yuan. The Exchange also completed implementation plan on open-end group bidding, internet-based bond trading and value-added information service. These efforts have greatly facilitated the process of building uniformity and connectivity into the bonds trading market. In the area of technology innovations, the Exchange installed internet-based large volume trading system in anticipation of future needs. The Exchange also established the industry’s first CA certification center and technology standards. In addition, the trading information exchange is automated.
3. Complete the Index System
4 The Exchange officially launched its SSE T-Bond index, SSE Corporate Bond Index and Composite Corporate Bond Index, made two successful readjustment of constituent stocks in the SSE 180 index180, completed compilation of SSE 50 index and pre-launch preparation. The Exchange also completed major infrastructure preparation on index system maintenance, index stock selection and index database.
4. Forward-looking and Pragmatic Approach in Conducting Research. Research efforts were redirected to focus more on the value and core competency of SSE and on the branding of joint research task forces. Over the past year, the SSE completed moer than 30 joint research tasks including the compilation and publication of 2003 Corporate Governance Report in China. The Exchange also ran annual events on selecting the best research paper and accepted the second batch of financial experts to work in the Post-Doctoral research team. SSE also completed editing on serial research entitled SSE Research, and successfully organized a number of high-profile international conferences including the CEO Conference on China Capital Market and Company Development.
II. Regulatory functions and responsibilities are performed strictly and regulatory efficiency is increased greatly The rules on supervision and regulation are perfected and the supervision and regulation by law is strengthened. We revised the standards for annual reports and interim reports and the preparation rules for quarterly reports and formulated the execution standards for punishment on listed companies. We started to amend the “Listing Rules”. “Members Self-regulation Rules” and “A Guide to Business Standardization of the Members” have been promulgated and implemented, with the management on member’s self-regulation management strengthened. In addition, we formulated and implemented the rules for the alarm board.
Supervision and control mechanism is optimized and supervision and regulation is strengthened based on the classifications. We continued to execute annual member inspection, evaluate the risk level of securities companies, carry out business inspection and special broker business for foreign securities institutions and special members, and adjust risk classification level of listed companies. We established the supervision and control mechanism corresponding to block transaction, bond buy-back, QFII, social security funds entering the market and other new products and transaction manners. We strengthened joint supervision and regulation mechanism within our stock exchange and held 23 routine meetings on the supervision and regulation. The cases involving several departments were detected and handled in time. Greater emphasis was laid on the command of non-appointed newspapers and magazines and the network information and related companies were urged to clarify the information. Violation of the laws and regulations was punished.
Doubtful and query supervision and regulation is intensified and the companies that
5 violated the laws and regulations were punished seriously. We issued letters for circulating a notice of criticism to 33 companies, publicly condemned 11 listed companies and submitted 10 listed companies to China Securities Regulatory Commission for special check and investigation. During the post review on periodic reports, we issued 480 post-review comment letters and 142 supervision and regulation attention letters, and urged the listed companies to publish 169 supplementary announcements or correction announcements for their periodic reports.
Effective measures are taken on the principles of three “in-times” to prevent occurrence of major and important cases. The existing problems were discovered in time, refrained in time and investigated and handled in time, so that the public reputation of the market is maintained. We completed the Phase 1 work of early-warning system for financial indexes of listed companies, and strengthened the detection, supervision, control and analysis of the inside transaction acts. We checked inside transactions jointly with related departments, and carried out general investigation into the affiliated guarantees and major accounting issues included in 2002 annual reports. We carried out general investigation again into the conducts of senior management members of listed companies and their spouses and family dependents buying and selling the shares of the companies of such senior management members. We effectively completed the risk assessment for national-bond buy-back business, checked the risk nodes, set forth corresponding policies and suggestions and urged the companies with abnormal problems to voluntarily apply for special treatment of their shares. Close attention was paid to the market risks that were possibly caused by the securities dealers that have potential crisis and related information was reported to higher-level authority in time.
Near supervision and regulation is executed and the mechanism of interview and dialog with the target companies is established. We enhanced the understanding of the target companies and increased the pertinence and efficiency of supervision and regulation through interviews and talks with them in their places. We had an interview with 130 listed companies/times. By taking pertinent measures, for example interviewing and talking with the listed companies, we played an effective warning role and strengthened communication between them and us. In the whole year, nearly 40 phone calls were made to the members for reminding, and 30 supervision and regulation letters were issued.
Joint supervision and regulation is intensified. We provided “Regulatory Information Share Area” on the website of Shanghai Stock Exchange, so that related information concerning supervision and regulation can be shared. We strengthened the communication and cooperation with our branches concerning the supervision and regulation of major events of listed companies, and held the symposiums about the supervision and regulation cooperation with our branches. Case study achievements were edited and many analysis, sum-up and interchange meetings were held
6 concerning significant supervision and regulation cases. We received the investigation and study teams consisting of the key securities auditors of our branches twice. The supervision and regulation details were reported to relevant departments of China Securities Regulatory Commission. The supervision and regulation conducted jointly with the securities associations in China was strengthened and cooperation memorandums were sighed. Besides, we organized the quarterly supervision and regulation conferences with China Securities Association and Shenzhen Stock Exchange at specified time.
III. Continue to push technology development and enhance technical competency Technical reform efforts were accelerated to meet the growing business demand. The transaction system was optimized and upgraded in time, and new businesses were rolled out as planned. The Phase 1 Sub-system for historical data analysis of the supervision system passed the inspection, the second phase of the project is now approved to go ahead. The market supervision and post-transaction control sub-system (盘后监控子系统) is currently under testing, after the completion of the system, the efficiency of securities supervision and regulation will be greated improved. More frequency points of digital satellite broadcast system were added to the system. The system is expected to be integrated, together with SDH access and application completed. We perfected the “Remote T –bond Bidding System’ to meet the needs of treasury bond underwriting. The trading network control project is also in progress as scheduled. After the completion of the project, the system reliability will be greatly increased.
The Exchange continued to implement technical upgrading projects. The review process on the new-generation transaction system project and preparation work relating to trading negotiation have been completed. In the near future, we will complete the screening of suppliers. The integration of technology platform for members and the network construction of new trading system are being carried out as planned. For the new information system project, there has been increasing business demands for the system, as a result, the Exchange has perfected the implemetation plan. The second phase of the project on data storage will be commenced very soon. For the new website, we are establishing a platform for online business and information exchange amongst Shanghai Stock Exchange, listed companies, member institutes and market supervision & regulation authorities, and it will become an important channel for investors to obtain information.
Comb existing technical systems and plan and implement the technical infrastructures. We combed the technical systems and ongoing technical projects of Shanghai Stock Exchange, and determined the management mode and system structures. We organized the formulation of uniform technical file frame and standard scale and started the construction of the technical file management platform that is uniform across Shanghai Stock Exchange, organized the overall planning, construction and operation of the Securities Building and Waigaoqiao Technical Center Equipment
7 Room, took the lead in formulating the Standards for Securities Information Interchange Protocol and plays a leading role in improving the securities information technology.
IV. Strengthen self-regulation and manage the exchange according to laws Manage our exchange according to the laws and standardize our operation. While we were making great efforts to carry forward the development of the market, we executed the strategy of managing our exchange according to the laws and standardizing our operation, and reduced the institutional risks and operating cost. A special workgroup was formed to clear all the business rules that were formulated since the establishment of Shanghai Stock Exchange, and the list of 132 abolished and invalid rules was announced. The valid rules were assembled into a book and published on the Internet. We officially established the business rule system and promulgated the method for formulating the business rules. We actively handled various litigious and non-litigious affairs, and protected legal rights and interests of Shanghai Stock Exchange. We executed standardized contract management and actively participated in the revision of the Company Law and Securities Law, and carried forward the building of the legal system of securities market and the study on relevant legal topics of Shanghai Stock Exchange.
Reinforce the position and role of the executive council in self-regulation. We organized the meetings of executive council for reviewing the work reports and significant business rules and implementation rules thereof that were submitted by Shanghai Stock Exchange, and set forth guiding comments; promoted and supported the development plan and business innovation of the stock exchange; played the due role of the supervision commission and member management commission under the control of the executive council, organized visits and investigations, and performed the function of supervision and regulation; and organized the market risk prevention and financial audit.
Take effective measures to improve the level of legalization and institutionalization. We officially formulated “The Implementation Rules for Bond Transaction of Shanghai Stock Exchange”, and changed the past of bond business, which helps to maintain the market order, prevent the market risks, protect legal rights and interests of investors and better promote the healthy development of securities market. In order to promote the standardization of remote operation of the indexes, we formulated “Provisional Measures for the Management on the Indexes of Shanghai Stock Exchange”; to adapt to the needs of internal operation, successively formulated nearly twenty internal regulations, including “Measures on Subsidiary Management”, “Measures on the Management of Staff Going Abroad” and “Measures on the Management of Senior Financial Expert Workstation”.
V. Implement the service program and actively promote international cooperation 1. We launched service items oriented to market demands, and obtained substantial
8 breakthrough in service method. Service demands were combed and online services were strengthened. We successively offered the guide to sharing the information about supervision and regulation and information disclosure business of listed companies, access to online “Good People Raising Hands” information, a collection of business rules, index information disclosure and generalization, statistical index optimization, and Rebate of trading commission. Service coordination meeting system was established, and the supervision, rewards and punishment and return visit mechanism for service work was perfected. We made great efforts to strengthen technical service, and carried out investigation and research in technical services in Beijing, Shanghai and Guangzhou, offered the “Joint Foreign Technical Service Window”, established the mechanism for joint provision of technical service and joint diagnosis and solution of related technical issues of securities dealers. The reform of foreign service telephone system was completed. 2. Strengthen the services for listed companies and member companies. We provided the training of directors of listed companies, training for annual reports, qualification training for secretaries of boards of directors and subsequent training. Besides, the training for online business handling persons of members, and the business training for QFII, QFII custodian banks and relevant members were provided. 3. Advocate and generalize the investor relationship management and deepen the investor education work. By cooperating with the branches of China Securities Regulatory Commission, we held “Large Traveling Lecture Seminars for Carrying Forward the Investor Relationship Management of Listed Companies” activities eight times in Shandong and other areas. We advocated to observe the “Convention on the Investor Relationship Management of Listed Companies”, compiled and printed “Investor Relationship Management of Listed Companies” and “Present Situations of Investor Relationship in the Securities Market of Shanghai” and presented them to the investors. In addition, “Investor Contest in Securities Knowledge”, “3.15 Large Free Consultation Service Concerning the Protection of Investors’ Interests” and other activities were carried out, which constantly led the investor education work into in-depth. 4. Strengthen market promotion and promote international cooperation and interchange. We changed the key points for market promotion in time, strengthened the market promotion for the private enterprises and growth enterprises to be listed, and laid emphasis on the introduction of QFII system and the propaganda of China’s securities markets and Shanghai Stock Exchange. We successively signed the memorandums with the stock exchanges in South Korea, Tokyo, and New York, and developed various interchange activities jointly with the overseas stock exchanges with which we signed the memorandums. We successfully hosted “22nd Stock Exchange Annual Session of East Asia and Oceania”, which expanded the influence of Shanghai Stock Exchange and upgrading the international image of Shanghai Stock Exchange.
9 VI. Great progress was made in internal management 1. Internal management mechanism is further strengthened. By making full use of internal management coordination meetings, we strengthened the boundary management and promoted communication and coordination. The books “Collection of Office Management Systems” and “Collection of Personnel Management, Finance Management and Administrative Management Systems” were compiled and published, and “Overall Emergency Proposal for Office Automation” was established. “Regulations on Employee’s Occupational Behaviors” was implemented for trial. We standardized the management on staff on-the-job study, constantly optimized our office automation system, strengthened confidentiality work and were granted the title of “Confidentiality Work Advanced Unit of Shanghai”. Besides, we upheld the spirits of fighting our way and played the active role of the Communist Youth League. 2. Strengthen financial and asset management. We observed the principle of “Scientific Accounting and Strengthening Management”, and perfected the internal control mechanism, strengthened financial analysis, and stressed financial supervision. The risk control was strengthened, and all the matters set forth in the recommendation proposal of the certified accountants firm were implemented. The checkup of fixed assets was basically completed, some progresses were produced in receiving the unpaid receivables, and stage achievements have been produced in the audit and checkup of the construction projects in progress.
Major Milestones of Shanghai Securities Market in 2003 January 2 SSE officially released SSE Government Bond Index, filling the gap in the bond index series. 10 SSE officially launched large volume trading business 12 China’s first joint venture fund management company—China Merchant Fund Management opened for business 21 CSRC, SSE and Global Corporate Governance Forum co-sponsored International Conference on Corporate Governance: Opportunities and Challenges February 18 ABN AMRO Xiang Cai Fund Management Co. Ltd was approved to launch its three sector funds at the same time, this marked the beginning of umbrella funds in China March 3 Shanghai Stock Exchange and Shenzhen Stock Exchange further decimalized their fund unit price from 0.01 RMB to 0.001 RMB 15 SSE launched free advisory campaign to protect the interests of investors in 10 major cities throughout China on March 15th Consumer Rights Day 20 SSE signed Memorandum of Understanding on Friendly Cooperation
10 with the South Korean counterparts April 1 The Intermediate People’s Court in Beijing open its first trial allowing public hearing on alleged share price trading manipulation of China Tech Innovations (Zhong Ke Chuang Ye), which was dubbed China’s first case of stock market scandal 4 Shanghai Stock Exchange and Shenzhen Stock Exchange issued Notice on Highened Risk Alert on Listed Companies Running the Risk of Being De-listed. Following the Notice, companies with de-listing risks will be pre-fixed with ‘ST’, which stands for special treatment. 5 The Ministry of Finance suspended approval on MBO of listed companies Following serious illegal offendance, Da Lian Securities Ltd. became the first in China to be revoked of its business license and ordered closure by the CSRC 9 The old and new dominating shareholders of Nan Gang Steel Co. disclosed their stock holding position and intent for acquisition, China’s first case in acquisition bidding. 14 SSE Information & Network Service Co. Ltd announced its founding. 25 China’s first joint venture securities house—China Europe Securities Co. Ltd, a joint venture between Xiangcai Securities and Credit Lyonnaise Securities announced its inception. May 19 SSE launced 2 day T-bond repo to the market, offering a complete product line of shorter-than-7- days repo instruments. 22 CSRC issued Notice on Stock Trading Terms Relating to Listed Companies under Bidding Take Over 23 SSE decided to de-list Hu Bei Bio-Agriculture from the Exchange 26 UBS, Nomura Securities became the first batch of Qualified Foreign Institutional Investors licensed by the CSRC to conduct securities investment in China. 28 BMO Montreal Bank (part of BMO Financial Group)’s proposal to take an equity interest in Full Goal Fund Management Ltd was approved by the CSRC. The case was the first where a foreign institutional investor formed joint venture fund house by purchasing shares from existing shareholders. June 9 The National Social Security Fund made its debut investment in the securities market. This not only provided new source of funding for the securities market, but also expanded investment channels for the NSSF capital protection and appreciation.
11 27 The Management Measures on Qualifications of Securities Investment Professionals came into force. July 1 SSE readjusted the constituent stock of SSE 180 index, adding to the list many newly listed companies who are flagship companies in the industry, including China Unicom and CITIC Securities. 7 SSE completed its wide-band broadcasting system. August 19 SSE hosted the CEO Forum on China Capital Market and Corporate Growth 20 The large volume trading system went into operation. 30 CSRC issued Interim Measures on Management of Bonds Owned by Securities Companies September 1 The 2003 China Corporate Governance Report compiled by the SSE Research Center was published 8 The CSRC and the State Coucil State Owned Assets Supervisory Committee jointly issued Notice on Standardizing Financial Relationship between Listed Company and Related Parties and Providing Guarantee to External Parties. 19 The CSRC issued Notice on Further Standardizing Procedures Relating to IPO 22 STGuo Jia was de-listed from the SSE 30 TCL Group issued public notice on proposed listing by acquiring TCLTelecommunications, the first such case in China through a vehicle of acquisition of existing listed companies. October 9 The H share price of QingTsao Beer reached record high, overtaking it’s a share price for the first time 28 The Securities Investment Law of the People’s Republic of China was adopted and is scheduled for implementation on June 1, 2004. November 3 B share price in Shanghai and Shenzhen Stock Market rose sharply, with Shanghai B share index rose by 5.8% and Shenzhen B share index rose by 4.61%, breaking the annual high. 5 Changjiang Electricity went for public offering and scheduled for listing at the Shanghai Stock Exchange on November 18th. Shanghai Industrial (Shang Gong Gu Feng) was approved by the authorities to place secondary issuance of B share not exceeding 100 million shares, which was the first in three years for B share companies to get refinancing. 18 Wu Han Steel issued public notice on its proposed secondary issance of A shares in both state-owned shareholders and tradable share investors
12 to allow complete listing of the group company, this was the first time such innovative financing model was used in China. 20 Shanghai Composite Index rose by 2.81%, breaking the record for largest stock market rise in a single day. On that trading day, more than 50 stocks rose to the stop-buying limit. December 8 The Shanghai Stock Exchange expanded buying-selling order disclosure range to 5 buying and selling order, through its wide-band broadcasting and SDH instant information. 11 CSRC issued Interim Measures on Stock Listing Review Committee, with detailed work rules issued in the following day. 18 CSRC promigated the Ad Hoc Measures on Discretionary Asset Management by Securities Companies. 25 CSRC issued the Corporate Governance Guideline for Securities Companies (interim), together with a Internal Control Guideline for Securities Companies and Opinion on Improving Internal Control on Securities Companies. 26 Fund trading in Shanghai and Shenzhen rose to the historical high of 1000 basis points with heavy trading. 28 CSRC issued the Interim measures on Underwriter Guarantee System in Securities Listing
13 Market Summary
2003 2002 2001 Securities Listed (at year end) 780 715 No. of companies listed 646 914 826 No. of securities listed 744 824 759 No. of Stocks listed 690 67 70 No. of newly-listed companies 75 4170.39 3727.84 Value of Issuance (RMB100million) 3164.44 1157.1 992.53 Tradable shares (RMB100million) 837.53 Total market capitalization 29804.92 25363.72 (RMB100million) 27590.56 Total capitalization of tradable 8201.14 7467.30 shares (RMB100million) 8382.11 Total capital raised (RMB100million) 557.412 614.30 A shares 957.49 0.428 0 B shares (US dollar) 0 Trading activity 241 237 Number of Trading Days 240 82911.56 48527.72 Annual Turnover (RMB100million) 44144.03 20824.14 16959.09 Shares 22709.38 362.16 556.77 Funds 1348.92 58481.89 30800.02 Treasury bonds 19726.04 3243.37 211.84 Others 359.69 Average daily turnover 344.03 204.76 (RMB100million) 183.93 Average daily turnover of Stock 86.41 71.56 Trading (RMB100million) 94.62 Annual Stock Trading Volume 2692.73 1781.10 (100 million shares) 1819.95 Average daily Stock Trading 11.17 7.52 Volume (100 million shares) 7.58 Total number of stock trading 20661.06 17556.55 orders (10000 orders) 20975.41 Average daily stock trading orders 85.73 74.08 (10000 orders) 87.40 Stock Indices
14 3122.16 3323.22 SSE 180 Index Highest 4118.48 2453.32 2528.42 SSE 180 Index Lowest 2946.42 2828.8 2549.60 SSE 180 Index Closing 3069.17 1649.6 1748.89 SSE Composite Index Highest 2245.44 1307.4 1339.20 SSE Composite Index Lowest 1514.86 1497.04 1357.65 SSE Composite Index Closing 1645.97 Market Ratios 36.544 34.43 Average P/E ratio 37.71 Turnover ratio 1 68.53 52.46 （market capitalization）(%) 75.44 Turnover rate 2 250.755 197.40 （tradable share capitalization）(%) 244.27 Note: Turnover ratio 1＝(Turnover in value/total market capitalization)×100% Turnover ratio 2＝(Turnover in value/tradable share capitalization)×100%
15 Stock Market Trading System The trading hours of the SSE are from every Monday to Friday. The morning session from 9:15am to 9:25am is the time for centralized group bidding. The trading hours between 9:30am and 11:30am are consecutive bidding. The afternoon session is from 13:00pm til 15:00pm, also forme for consecutive bidding. The market is closed on Saturdays, Sundays and other public holidays announced by the SSE.
Tradings on SSE are processed through a centralized competitive bidding procedure. All trading orders are openly declared through a mainframe computer. The mainframe will then automatically complete transactions on the principle of price precedence and time precedence. Orders are given from the pit or from virtual trading seats. Orders that are inputted into the mainframe computer via members’ seats at the SSE are called orders from the pit. Orders made through terminals at members’ sales departments and electronic system are called orders from virtual trading seats.
The SSE practices a fully designated trading system for the trading of securities. All investors trading securities on the SSE must first designate a member institute and sign “Designated Trading Agreement” with the member institute, authorizing the latter to act as its agent and to implement transactions orders. Trading may only be allowed after the investor’s trading account has been ‘appointed’ to the member’s seat.
Regarding the prices of securities trading, the SSE generally follows the market princple and free competitive bidding. At present, all A Shares, B Shares and funds are subject to daily a 10% stop buying and stop-selling limit. ST Stocks are subject to a 5% daily stop-buying/selling limit. The bidding of bulk trading must be within the range of trading price in the day. If no trading occurs to the stock on that day, the previous closing price will be the transaction price.
Starting from March 25, 2002, the Shanghai Stock Exchange used net trading price in all T-bond trading.
The SSE makes timely releases of trading market data and information to members and investors. Daily real-time market quotations, indices made up of various different share prices, settlement data, market information reports and daily transaction data is transmitted to each member’s business counters via a satellite communication system or optical fiber communication systems. Transaction information is instantly transmitted to each member via a two-way satellite land-based optical fiber cable communication system. According to the provisions of the open information system for the trading of stocks and funds, more detailed information is published about the securities gaining the most during each day’s trading. The trading information referring to large transaction is disclosed through media appointed by the SSE. The SSE’s website, www.sse.com.cn, will simultaneously release this information in its column of “Market information & transaction ---Disclosure of trading information---Information of large transaction”.
16 The Investors’ Trading Fee and Other Fees Name of Items Charging Standard Ultimate collector Fees
10 yuan for account opening agent and 3 Papercard for 40 yuan per account yuan for depository & clearing compan individual Opening Account for A paid by investors. Share Trading Accounts for 50 yuan for account opening agent an institutional 400 yuan per account 350 yuan for depository & clearin investors Fees for company paid by investors opening an Reissue account account 10 yuan per account Investors pay the account opening agent Reissuing A share card Investor Account Reissue a new The same as opening a new The same as opening a new account account account
Opening Accunt for Funds Trading 5 yuan per account Investors pay the account opening agent
≤ 0.3% of the trading value，the Commission Investors pay securities company least: 5 yuan
0.1% of the trading value，the Investors pay the depository & clearin A share Trading Transfer fee least: 1 yuan (two-side) company
0.2% of the trading value Stamp duty Investors pay taxation bureau (two-side)
0.1% of the par value, the least:100 yuan; 0.01% of the Investors pay the depository & clearin Transfer of Transfer fee par value for the shares over 5 company non-tradable shares by millions (two-side) negotiation 0.2% of trading value Stamp duty Investors pay taxation bureau Non-trading transfer for (two-side) A share Transfer for 0.1% of the par value, the least:100 yuan; 0.01% of the Investors pay the depository & clearin legal person Transfer fee shareholder due par value for the shares over 5 company to business millions (two-side) closure Stamp duty 0.2% of par value (two-side) Investors pay taxation bureau
17
Items Fees Fee Sturcuture Ultimate unde
Handling fee 10 yuan per account Investors pay settling Notarial transfer, judiciary transfer 0.1% of par value, the least: 1 yuan for 50% for settling claimed by settling Account individuals and 10 yuan for institutional depository & clearin members Transfer fee investors (both way) respectively paid by i
Stamp duty 0.2% of trading value (both way) Investors pay taxation
0.1% of the par value, the least:100 yuan; 0.01% Investors pay the d Transfer fee of the par value for the shares over 5 millions Non-tradable clearing company (two-side) shares
Stamp duty 0.2% of trading value (both way) Investors pay taxation Non-trading A share transfer 0.1% of the par value, the least:100 yuan; 0.01% of the par value for the shares over 5 millions ; Investors pay the d Transfer fee Tradable the least: 1 yuan for individuals and 10 yuan for clearing company shares institutional investor (both way)
Stamp duty 0.2% of trading value (both way) Investors pay taxation
Investors pay the d Transfer fee 0.015% of par value (both way) clearing company T-bond
Transfer by judiciary assistance assistance by judiciary Transfer Stamp duty exempt Investors pay taxation
Investors pay the d Transfer fee exempt clearing company Funds Stamp duty exempt Investors pay taxation
18
Name of Items Charging Standard Ultimate Fees
0.1% of book value，0.01% of book value aboveApplicants pay Securities mortgage Handling fee 5 million RMB &clearing com
4 USD for accou Individual USD 19 per account 15 USD for dep company paid by
10 USD for Opening Account for Account agent, 75 USD B share trading Institutional Opening Fee USD 85 per account clearing comp investors
Change of settlment Investors pay t USD 2 (no collect at present) members clearing compan
Commission ≤ 0.3% of the trading value, min. charge: 1USD Investors pay se
Investors pay t B share / B share warrants Clearing fee 0.05% of trading value（both way） clearing compan
Stamp duty 0.2% of the trading value（both way） Investors pay tax
Transferee pays Transfer fee USD 30 /per transaction clearing compan
Heritage or donation 0.2% of market value transferred (based on the B share Transfer opening price at the day of transfer; if no Stamp duty Transferee pays (non-trading) opening price, on the closed price at the day before) (both way)
USD 30 per trade (min. charge: USD 1 per Transferee pays Others Transfer fee transaction) clearing compan
Securities Commission ≤0.3% of trading value, min. 5 yuan Investors pay se investment funds
Bonds (T-bonds, debentures and convertible Commission No more than 0.1% of trading value, min: 5 yuan Investors pay se bonds)
19
Name of Items Charging Standard Ultimate undertaker Fees
0.0025% of the trading value (1 day), the least: 5 yuan
0.0075% of the trading value (3 days)
0.0100% of the trading value (4 days) T-bond repo Commission 0.0125% of the trading value (7 days) Investors pay securities company 0.025% of the trading value (14 days)
0.05% of the trading value (28 days)
0.075% of the trading value (more than 28 days) 0.0025% of the trading value (1 day) Corporate Bond Repo Commission 0.0075% of the trading value (3 days) Investors pay securities company 0.0125% of the trading value (7 days) Transferor pays the deposito T-bond depository Handling fee 0.01% of par value &clearing company
Investor pays inquiry uni Trading 20 yuan per account in a year (depository & clearing compan record Inquiry or settling unit) Inquiry Charge Investor pays inquiry uni Institutional: 50 yuan per account; Balance (depository & clearing compan Individual: 20 yuan or settling unit) Note: The above is in RMB yuan if not otherwise specified.
20 Monthly Trading Volume, Trading Value and P/E Ratio in 2003
Month Trading Volume Trading Value P/E Ratio (10 thousand shares) （10 thousand RMB） (times) 01 2636551.43 19122427.5 37.85 02 1198197.58 10118684.62 38.11 03 1514062.35 13075428.21 38.1 04 4595771.81 36928380.24 38.42 05 2323968.7 19177781.94 38.2 06 1910091.21 15567541.83 36.04 07 1818844.26 14924635.66 35.72 08 1164271.69 9424625.57 34.27 09 1408672.99 11347578.59 32.9 10 1516449.05 10588132.03 32.48 11 2812706.84 18657675.57 33.96 12 4027700.52 29308482.38 36.54
21 20 Most Frequently Traded Stocks by Trading Value In 2003, the accumulative trading value of the 20 most active stocks reached 534.624 billion RMB, accounting for 25.68% of the total. China Unicom replaced China Merchant Bank as the stock with largest trading volume during the year.
Rank Code Name of Stock Trading value Percentage of the total (10 thousand RMB) (%) 1 600050 China Unicom 7333177.67 3.52 2 600036 China Merchant Bank 6665233.36 3.2 3 600019 Baosteel 4280971.07 2.06 4 600028 China Petrochem 3544535.63 1.7 Pudong Development 5 600000 Bank 3405589.45 1.64 6 600104 Shanghai Automobile 3322420.69 1.6 7 600016 Minsheng Bank 3243853.36 1.56 8 600030 CITIC Securities 3116043.02 1.5 9 600015 Huaxia Bank 2069168.72 0.99 Shanghai Port 10 600018 Container 1907178.91 0.92 Changjiang Electricity (Yangtze 11 600900 Electricity) 1880266.06 0.9 12 600653 Shenhua Holdings 1557667.15 0.75 Guangdian 13 600602 Electronics 1487046.16 0.71 14 600004 Baiyun Airport 1472884.25 0.71 15 600609 Jinbei Automobile 1451515.65 0.7 Southern China 16 600029 Airlines 1423188.93 0.68 17 600231 Linggang Steel 1403000.23 0.67 Zhonghai 18 600026 Development 1323922.01 0.64 19 600012 Wantong Expressway 1301356.67 0.62 20 600100 Qinghua Tongfang 1273343.94 0.61
22 20 Most Frequently Traded Stocks by Trading Volume In 2003, the top 20 most actively traded stocks have a cumulative trading of 87.475 billion shares, which equals to32.47% of the total. China Unicom has the heaviest trading (number of shares) for the second consecutive year.
Rank Code Name of Stock Trading volume Percentage of the total (ten thousand shares) (%) 1 600050 China Unicom 2212016.31 8.21 2 600028 China Petrochemical 901055.86 3.35 3 600019 Baosteel 740220.54 2.75 4 600036 China Merchant Bank 602340.7 2.24 5 600030 CITIC Securities 437256.77 1.62 6 600653 Shenhua Co. 378200.88 1.4 Souther China 7 600029 Airlines 341584.02 1.27 8 600016 Minsheng Bank 309761.25 1.15 Pudong Development 9 600000 Bank 306655.77 1.14 10 600808 Magang Steel 300511.62 1.12 11 600104 Shanghai Automobile 293601.75 1.09 12 600015 Huaxia Bank 288702.92 1.07 Changjiang 13 600900 Electricity 263651.23 0.98 14 600012 Wantong Expressway 240647.75 0.89 Shanghai 15 600688 Petrochemical 214576.73 0.8 Zhonghai 16 600026 Development 213524.21 0.79 17 600609 Jinbei Automobile 199778.78 0.74 18 600004 Baiyun Airport 168019.14 0.62 19 600231 Linggang Steel 167947.84 0.62 Shandong 20 600350 Construction 167474.57 0.62
23 About the Compilation of the SSE Index
As authoritative statistical indices popularly adopted by domestic and overseas investors in measuring the performance of Chinese securities market, the SSE Index series are compiled and published by the SSE, which includes the SSE 180 index, The SSE Composite Index, A Share Index, B Share Index, Bond Index and Fund Index. Among them, the earliest one to be compiled was the SSE Composite Index. In order to push the construction of infrastructure and the process of standardization of securities markets, the SSE has made adjustments to the original The SSE 30 Index and renamed it as The SSE Component Index (hereinafter referred to The SSE 180 Index) in June, 2002. The compilation of The SSE 30 Index has considered the current development situation of Chinese securities markets and referred to common international practices. It has been compiled and perfected on the original compilation scheme of The SSE 30 Index. The objective is to establish basic index that can reflect the performance and operations of Shanghai securities market and act as an investment evaluation measure and as a basis of financial derivative products, through scientifically and objectively selecting the most representative constituent stocks.
The SSE Index series reflects the price changes of listed stock in the SSE from an overall view and various different aspects, the level of prosperity of different industries and overall changes in the price of their shares. This provides investors with benchmark system of different investment portfolios. Following the securities market’s increasingly important position in the national economy, the SSE Index will also gradually become a “barometer” to measure the operation of the Chinese economy.
In order to scientifically compile the indices and to standardize the their operation, the SSE has firstly established an index expert committee in our country who provides consultative opinions regarding the index compilation methods, selection of constituent stocks etc.
The SSE Index Series
The SSE share price index series has a total of 11 indices in 4 categories. Constituent Composite index Classified index Other index stock index (1) The SSE 180 (2) The SSE(3) The SSE A Share Index； (10) The SSE Index Composite Index (4) The SSE B Share Index；Fund Index (11) The SSE (5) The SSE Industrial T-bond Index Index； (6) The SSE Commercial Index； (7) The SSE Real Estate Index； (8) The SSE Public Utilities Index； (9) The SSE Composite Index。
24 Sampling Range of Indices
The stocks included in the calculation of indices are called constituent stocks (also called component stocks). The first condition to be a constituent stock is that it must be listed on the SSE.
I. Constiutent stocks in the SSE 180 Index are 180 stocks selected from and most representatie of the A share pool.
1.Sampling Range: all listed A shares in the SSE are included but the following: 1) A stock that has been listed on the Exchange for less than one quarter; 2) Suspended from listing; 3) In poor operating condition or reorted serious financial loss recently; 4) High volitility of share price or share price under manipulation; 5) Other stocks that in the view of expert committee shall not be included.
2.Sampling Standard: Sector representation, size of the company and liquidity stock trading
3.Sampling Methods 1)Stocks are sorted according to their market capitalization, size of tradable shares capitalization and trading turnover ratio. 2)To assign the number of constituent stocks pro rata according to the size of market capitalization of tradable shares in individual industries. 3)Select stocks only in the top rank within each industry according to the assigned quota; 4)Fine-tuning the selected samples from respective industries keeping the number of component stocks constant at 180.
4.Adjustments to SSE 180 Constituent Stocks
Consisturent stocks of the SSE Index are adjusted every half a year according to the stability of samples and the dynamic track record of trading. The proportion of each adjustment is not more than 10%. Under special conditions, temporary adjustment of samples may be implemented.
II.Constituent stocks of The SSE Composite Index are A share and B share companies listed on the SSE. III.Constituent stocks of classified indices are all listed companies in corresponding categories or sectors. 1.Constituent stocks of SSE A share index includes all A share companies listed on the Exchange; similarly, constituent stocks of SSE B share index inlcude all B share companies listed on the Exchange; 2.All stocks listed on the SSE are classified into five categories of sectors: industry, commercial, real estate, composite (comprehensive). The constituent stocks of sector indices include all listed stocks in both A share and B share markets in specific sectors.
25
IV. Constituent stocks of SSE Fund Index include all listed securities investment funds on the SSE.
V. Constituent stocks of the SSE T-bond Index include all T-bonds listed on the SSE that has remaining maturity longer than one year, either on fixed-interest rate or repayment of principal and interest at time of maturity (no volume cap so far).
VI. Constituent stocks of corporate bond indices include all corporate bonds listed on the Exchange, having no equity links and with remaining maturity longer than one year, paid on fixed interest rate or payment of principal and interest on maturity and having an investment grade above BBB. (there is no volume cap for the time being).
Calculation of Indices
The SSE Index series all use “points” as the unit of measurement. Base day, base period and base period index Base period is also called as divisor. As the SSE 180 Index published in July 1, 2002 is the continuance of the SSE 30 Index officially published in July 1, 1996, the average tradable share market capitalization from January to March, 1996 is still taken as base period. The base period index is 1000 points. The SSE Composite Index takes December 19, 1990 as the base day and the total market capitalization of all listed shares on that day as base period. The base period index is set on 100 points and has been officially published since July 15, 1991. The SSE A Share Index takes December 19, 1990 as base day and the total market capitalization of all A Shares on that day as base period. The base period index is set as 100 points and has been officially published since February 21, 1992. The SSE B Share Index takes on February 21, 1992 as base day and the total market capitalization of all B Shares on that day as base period. The base period index is set as 100 points and has been officially published since February 21, 1992. The Classified indices take April 30, 1993 as base day and the total market capitalization of all stocks of the corresponding industries on that day as base period. The base period index is uniformly set as 1,358.78 points (the closing value of the SSE Composite Index on April 30, 1993). The index has been officially published since June 1, 1993. The SSE Fund Index takes May 5, 2000 as base day and the total market capitalization of securities investment funds on that day as base period. The base period index is set as 1,000 points and has been officially published since June 9, 2000. The SSE T-bond Index takes Dec. 31, 2002 as base day and the total market capitalization
26 of sample T-bond on that day as base period. The base period index is set as 100 points and has been officially published since Jan., 2003.
Computation Formula 1. The SSE Index series are calculated using a Passche weighted composite price index formula. 2. The SSE 180 Index The SSE Component Index is calculated using the number of adjusted share capital of the component shares as the weighted number. The computing formula is as follows: Reporting Period Index = (reporting period component shares’ adjusted market value/base period component shares’ adjusted market value) x 1000 Of which, adjusted market value = ∑ (market price x the adjusted number of shares issued). The adjusted market capitalization of base period component shares is also called as divisor. The adjusted number of share capital has adopted the method of classification to adjust the number of component share capital. According to international practice and following advice from the expert committee, the classification method of the SSE Component Index is as follows. For example, if the tradable proportion of one stock (tradable shares/total shares) is 7%, less than 10%, the tradable shares will be taken as the weight; if the tradable proportion of another stock is 35%, which is the range of (30, 40), its corresponding weight will be 40%, then 40% of total shares will be taken as weight. Proportion of ≤ 10 (10，20] (20，30] (30，40] (40，50] (50，60] (60，70] (70，80] >80 Tradable Shares（%） Weight （%） Tradable 20 30 40 50 60 70 80 100 proportion
3. The SSE Composite Index and classified indices The SSE Composite Index and classified indices are calculated using the floating share number of the constituent stocks as the weighted number. The computational formula is as follows: Reporting Period Index = (reporting period constituent stocks’ total market value/base period) x base period index Of which, total market capitalization = ∑ (market price x number of shares issued).
4. Fund index The SSE Fund Index is calculated using the number of funds issued of the sample funds as the weighted number. The computational formula is as follows: Reporting Period Index = (reporting period sample funds’ total market value/base period) x base period index Of which, total market value = ∑ (market price x number of funds issued).
5. T-bond index
27 The SSE T-bond Index is calculated using the floating T-bond number of the sample T-bond as the weighted number. The computational formula is as follows: Reporting Period Index = (reporting period component T-bond’ total market value + reporting period T-bond’s interest & returns on reinvestment)/base period x base period index. Of which, total market value = ∑ (full price x number of T-bond issued). Full price = net price + accrued interest Reporting period T-bonds interest & returns on reinvestment means the return from the reinvestment in bond index with the interest revenue of sample T-bond at that month.
6. B share price unit When calculating the SSE B Share Index, the B shares among the constituent stocks are calculated in US dollars. When calculating other indices, the price of B Shares among constituent stocks is converted into RMB according to the applicable exchange rate (the middle price of RMB into US dollars on the last trading day of the week at the China Foreign Exchange Trading Center).
Real-time calculation of indices The SSE index series are all calculated in the way of “real-time one by one”. The detail is as follows: After each day’s centralized competitive pricing, the resulted open price ( the previous day’s closed price for no trade shares) is used to calculated open indices. Once a new trade occurs, the indices will be calculated and published again until the market is closed. Of which, the price for calculation of component shares is determined according to the following principle: 1. If there is no trade at that day, X = the previous day’s closed price; 2. If there are trades at that day, X = the latest trade price.
Modification of Indices
Modification formula The SSE Index series all adopt the “Divisor Adjustment” method. When changes occur to the list of component shares, changes occur to the share capital structure of component shares or there are non-trading related fluctuations to the total market value of component shares, the “Divisor Adjustment” methods is used to adjust the former fixed divisor so as to ensure the consistency of the indices. The adjustment formula is: Pre-adjustment total market value/original divisor = post-adjustment total market value/new divisor. Of which, post-adjustment total market value = pre-adjustment total market value + newly increased (decreased) market value; The formula thereby finds a new divisor (i.e. the post-adjustment divisor, also called the new base period) and the subsequent indices are calculated on this basis.
28
Some situation that modification is needed 1. New listings –In the case of newly listed component shares, the first day’s trade is not included in the calculation of indices (except the SSE 180 Index). Since Sep. 23, 2002, the newly listed shares are included in the calculation of Indices (except the SSE 180 Index). 2. Ex dividend –In the case of component stocks being ex dividend (granting of stock dividends), no adjustment is made to the index and it is allowed to fallback naturally. 3. Ex rights –In the case of component stocks being ex rights (share dividends and rights issue), the index is modified prior to the ex rights day of component shares. Modified market value = Ex rights offer x share number after ex rights + market value before modification (not include ex right shares) 4. Changes in exchange rates –The index is adjusted according to the middle price of RMB to the US dollar at the China Foreign Exchange Trading Center on the last trading day of every trading week. 5. Suspension –When trading of a certain component share is suspended, its normal final closing price is used to calculate the indices. 6. Delisted –In the case of a component share being delisted (trading terminated), an adjustment is made to the index according to the previous trading day’s closing quotation of the removed stock. 7. Shares changes – If there is any other share change (such as tradable shares increases because of additional shares to be listed), the indices are modified before the day of share changes. Market value after modification = closed price x adjusted number of shares + market value before modification (not include shares changed) 8. Suspension of securities market – In case of A shares or B shares being suspended, the indices are calculated normally; in case of both A shares and B shares being suspended, the indices are not calculated.
The share capital structure of listed companies is calculated and published every month by the Registration and Clearing Company.
Publishing of Indices
The SSE Index series are released to the domestic and foreign public through a variety of means.
1. They are broadcast nationwide via the SSE’s real time satellite broadcast system.
2. They are broadcast real-time globally via Reuters Financial Information System, Bridge Financial Information System, and Bloomberg Financial Information System.
3. The indices are also published in the SSE’s “Daily Market Quotations” published daily, “Weekly Market Quotations” published weekly and “Shanghai Securities Monthly Market Statistics” published monthly.
4. The indices are also published daily via the Internet at the website:
29 http://www.sse.com.cn.
5. The indices are transmitted every day following closing via the SSE’s “electronic mailbox” in the form of an “ E-Report” to a variety of media including “China Securities News”, “Shanghai Securities News” and “Securities Times”.
30 2003 SSE 180 Index
SSE 180 Index in 2003 (Daily Trading Volume, 100 million yuan)
180 3500
160 3000 140 2500 120 100 2000 80 1500 收盘指数 60 1000 成交金额（亿元） 40 20 500 0 0 1-2 1-17 2-12 2-27 3-14 3-31 4-15 4-30 5-26 6-10 6-25 7-10 7-25 8-11 8-26 9-10 9-25 11-3 12-3 10-17 11-18 12-18
31 2003 SSE Composite Index
2003 SSE Composite Index
350 1800
300 1600 1400 250 1200 200 1000 150 800 600 收盘指数 100
成交金额（亿元） 400 50 200 0 0 2003-1-2 2003-1-17 2003-2-12 2003-2-27 2003-3-14 2003-3-31 2003-4-15 2003-4-30 2003-5-26 2003-6-10 2003-6-25 2003-7-10 2003-7-25 2003-8-11 2003-8-26 2003-9-10 2003-9-25 2003-11-3 2003-12-3 2003-10-17 2003-11-18 2003-12-18
32 Historical Data of SSE 180 Index
Historical Data of Sse 180 Index （1996.7-2003.12） 周成交金额(亿元） 400 上证180指数 4500 350 4000 300 3500 3000 250
2500 指数 200 Historical Data of SSE 180 Index (1996.7-2003.12000 180 150
1500 上证 100 1000 周成交金额（亿元） 50 500 0 0 1996-7-5 2001-5-4 2002-1-4 1996-11-1 1997-3-14 1997-7-11 1997-11-7 1998-3-20 1998-7-17 1999-3-26 1999-7-23 1999-12-3 2000-4-14 2000-8-18 2001-8-31 2002-5-17 2002-9-13 2003-1-17 2003-5-30 2003-9-26 1998-11-13 2000-12-22
33 Historical Data of SSE Composite Index
Historical Data of SSE Composite Index (1990.12-2003.11)
周成交金额(亿元） 3000 上证指数 2500
2500 2000 2000 1500 1500 1000 1000 上证指数
周成交金额（亿元） 500 500
0 0 1997-4-4 1998-1-9 2002-2-8 2003-3-4 2003-7-3 1992-7-17 1993-4-23 1994-1-28 1995-8-25 1996-6-14 1999-8-20 2000-6-30 2001-4-27 2002-12-6 2003-4-29 2003-8-28 1990-12-21 1991-10-11 1994-11-11 1998-10-30 2003-10-30 2003-12-25
34 Market Cap and Weight of Constituent stocks in SSE 180 Index (as effective of the end of 2003)
Code Name of Stock No of Outstanding Outstanding Value Close Weight Shares （10 thousand (yuan) in SSE30 （10 thousand） yuan） Index (%) Pudong 600000 Development Bank 900000000 9477000000 10.53 2.58 600001 Handan Steel 490000000 2842000000 5.8 0.74 600002 Qilu Petrochem 350000000 2520000000 7.2 0.61 North-Eastern 600003 Expressway 300000000 1407000000 4.69 0.36 600005 Wuhan Steel 384000000 2645760000 6.89 0.73 Dongfeng 600006 Automobile 300000000 3717000000 12.39 0.8 China International 600007 Trade 160000000 974400000 6.09 0.21 600008 Beijing Capital 300000000 3480000000 11.6 0.82 600009 Shanghai Airport 681770050 6804065099 9.98 1.53 600010 Steel Union 350000000 1785000000 5.1 0.41 Huaneng (China Energy) 600011 International 250000000 4387500000 17.55 0.93 Wantong 600012 Expressway 250000000 1417500000 5.67 0.42 600016 Minsheng Bank 708293443 6693373036 9.45 2.04 Shanghai Port 600018 Container 420000000 5964000000 14.2 1.62 600019 Baosteel 1877000000 13270390000 7.07 3.78 Zhonghai Occean 600026 Shipping 350000000 3010000000 8.6 0.74 600028 China Petrochem 2800000000 13860000000 4.95 2.93 600030 CITIC Securities 400000000 3124000000 7.81 0.81 600033 Fujian Expressway 240000000 1984800000 8.27 0.43 China Merchant 600036 Bank 1500000000 16215000000 10.81 3.9 600037 Gehua CATV 104000000 1811680000 17.42 0.38 600038 Hafei Co. 114000000 1668960000 14.64 0.4 600050 China Unicom 4741000000 18632130000 3.93 4.91 Zhejiang Guang 600052 Sha 255528000 1052775360 4.12 0.25 600058 Minmetals 156000000 1786200000 11.45 0.4 600060 Hisense Electric 203840000 1257692800 6.17 0.32 Double Crane 600062 Pharma 185866200 3838137030 20.65 0.94 600071 Phoenix Optical 107450200 515760960 4.8 0.12 Jiangnan Heavy 600072 Industries 164736000 886279680 5.38 0.2 600073 Shanghai Meilin 120000000 1131600000 9.43 0.27
35 600076 Jadebird Huaguang 124800000 927264000 7.43 0.2 600085 Tongrentang 99616608 1713405658 17.2 0.48 600086 Duo Jia Co. 128220120 1296305413 10.11 0.3 600088 Zhong Shi Media 78000000 722280000 9.26 0.19 Tomorrow (Ming 600091 Tian) Technology 206200000 1389788000 6.74 0.33 600098 Guangzhou Dev 234000000 2623140000 11.21 0.59 600100 Qinghua Tongfang 273030533 3928909370 14.39 0.87 600102 Lai Gang Steel 202800000 1421628000 7.01 0.41 600103 Qing Shan Paper 446420000 1482114400 3.32 0.35 600104 Shanghai Auto 755999790 10410117108 13.77 2.24 600108 Yasheng Group 276822000 1179261720 4.26 0.28 600111 Xi Tu Hi-tech 145600000 1113840000 7.65 0.26 China Eastern 600115 Airlines 300000000 1245000000 4.15 0.26 600120 Zhejiang Oriental 209881083 1020022063 4.86 0.26 Zhengzhou Thermo 600121 Power 216000000 1412640000 6.54 0.35 600126 Hang Gang Steel 165750000 1485120000 8.96 0.37 600127 Jin Jian Rice 191434455 928457107 4.85 0.21 600129 Tai Ji Group 75000000 1659000000 22.12 0.35 600135 Le Cai Film 126000000 1418760000 11.26 0.32 600138 Qing Lu Holding 117000000 800280000 6.84 0.19 Airnautics 600151 Machinery 141440000 889657600 6.29 0.26 600158 Zhong Ti Industries 76050000 612202500 8.05 0.13 600165 Ningxia Hengli 101440000 615740800 6.07 0.16 600166 Futian Automobile 156000000 1689480000 10.83 0.43 Shanghai 600170 Construction 234000000 1680120000 7.18 0.43 600171 Shanghai Beiling 249585960 2186373010 8.76 0.57 600177 Ya Ge Er 225086558 2052789409 9.12 0.43 600180 Jiu Fa Co. 79872000 851435520 10.66 0.23 600181 Yun Da Tech 168000000 949200000 5.65 0.22 Sheng Yi 600183 Technology 193689844 1559203244 8.05 0.43 Lian Hua Monosodium 600186 Glutanate 364000000 1951040000 5.36 0.53 600187 Helong Co. 97500000 480675000 4.93 0.11 600188 Yan Zhou Coal 180000000 1958400000 10.88 0.42 600196 Fuxing Industrial 146250000 1442025000 9.86 0.32 600198 Datang Telecom 165373750 1405676875 8.5 0.31 Shandong 600205 Aluminum 160000000 2854400000 17.84 0.64 600207 Ancai Hi-tech 180000000 1555200000 8.64 0.4 600210 Zijiang Enterprise 266350913 2722106331 10.22 0.69 600217 Qinling Cement 140000000 2059400000 14.71 0.51 600221 Hainan Airline 371957765 1889545446 5.08 0.41 600223 Wanjie Hi-tech 211315000 1257324250 5.95 0.27
36 600226 Shen Hua Bai Ke 97440000 582691200 5.98 0.14 Chang Jiu 600228 Bio-Chemistry 96000000 438720000 4.57 0.11 600236 Guiguan Electricity 143333333 1598166663 11.15 0.48 600253 Tianfang Pharm 120000000 591600000 4.93 0.13 600256 Guanghui Co. 204000000 1952280000 9.57 0.43 600258 Capital Travel 70000000 609700000 8.71 0.17 Luqiao 600263 Construction 115000000 770500000 6.7 0.17 Beijing 600266 Construction 150000000 1263000000 8.42 0.32 600270 Waiyun Dev 138600000 2230074000 16.09 0.55 600275 Wuchang Fish 127400000 489216000 3.84 0.11 600282 Nan Gang Steel 144000000 1310400000 9.1 0.29 600299 Xingxin Material 80000000 561600000 7.02 0.14 600307 Jiugang Hongxing 200000000 1644000000 8.22 0.38 600309 Yantai Wanhua 128000000 1744640000 13.63 0.44 600319 Yaxing Chemical 80000000 552000000 6.9 0.13 600322 Tianfang Dev 121000000 629200000 5.2 0.14 600330 Tiantong Co. 60000000 743400000 12.39 0.18 600345 Changjia Telecom 54000000 432540000 8.01 0.1 Shandong 600350 Infrastructure 505000000 2525000000 5 0.71 Cheng De Vanadium & 600357 Titanium 100000000 1048000000 10.48 0.25 600362 Jiangxi Copper 230000000 1789400000 7.78 0.5 600372 Changhe Co. 110000000 979000000 8.9 0.22 Ninghu 600377 Expressway 150000000 1636500000 10.91 0.33 600380 Taitai Pharma 157500000 1241100000 7.88 0.31 600383 Jindi Group 90000000 868500000 9.65 0.22 600398 Cainuo Technology 99450000 682227000 6.86 0.15 600428 COSCO 130000000 1170000000 9 0.27 600456 Titanium Co. 60000000 668400000 11.14 0.14 600498 Fenghuo Telecom 88000000 708400000 8.05 0.21 China Petro 600500 International 180000000 1539000000 8.55 0.4 600508 Shanghai Energy 110000000 1284800000 11.68 0.31 600519 Guizhou Maotai 86515000 2197481000 25.4 0.48 600535 Tian Shi Li 75000000 702000000 9.36 0.17 600548 SZ Expressway 165000000 1272150000 7.71 0.46 600555 Matssuoka 81000000 639900000 7.9 0.16 600569 Anyang Steel 275000000 2032250000 7.39 0.63 Jing Neng Thermo 600578 Power 100000000 818000000 8.18 0.2 600581 Bayi Steel 156000000 1051440000 6.74 0.28 600585 Hailuo Cement 200000000 2286000000 11.43 0.6 600588 Ufsoft 30000000 900300000 30.01 0.22 600591 Shanghai Airline 200000000 1860000000 9.3 0.42
37 600597 Bright Diary 150000000 1746000000 11.64 0.47 600598 Bei Da Huang 300000000 2004000000 6.68 0.62 600600 Qingdao Beer 200000000 1840000000 9.2 0.5 Fangzheng 600601 Technology 485223514 4153513280 8.56 0.86 Guangdian 600602 Electronics 349972019 3650208158 10.43 0.94 600624 Fudan Fuhua 161721918 988120919 6.11 0.24 600626 Shenda Group 140481600 944036352 6.72 0.24 600631 No. 1 Dept 188313380 1314427392 6.98 0.35 600632 Hualian Store 124467083 954662527 7.67 0.21 600635 Dazhong Sci-Tech 329298542 2189835304 6.65 0.53 600637 SVA Infomation 203805161 2111421468 10.36 0.55 600638 Huangpu Estate 170152172 1116198248 6.56 0.31 600639 Pudong Jinqiao 128865000 951023700 7.38 0.25 600640 Unicom Guomai 60869348 538693730 8.85 0.14 600641 Zhongyuan Dev 179066240 1058281478 5.91 0.22 600642 ShenNeng Energy 410992000 5947054240 14.47 1.6 600643 A J Co. 308352666 3037273760 9.85 0.67 600649 Raw Water Sup 560851462 4464377638 7.96 0.96 600651 Feilo Acoustics 424165123 3813244456 8.99 0.79 600652 Aishi Co. 389512282 2683739623 6.89 0.56 600654 Feilo Co. 366319114 1853574717 5.06 0.41 600660 Fuyao Glass 192842055 2990980273 15.51 0.66 Qiangsheng 600662 Holdings 165369600 1200583296 7.26 0.28 600663 Lujiazui 160524000 1648581480 10.27 0.59 Harbin Pharm 600664 Group 623307390 7641748601 12.26 1.78 600665 Tian Di Yuan 147000000 782040000 5.32 0.24 600668 Jianfeng Group 188289463 948978894 5.04 0.22 600675 China Enterprise 318560122 1535459788 4.82 0.35 Airnautics 600677 Communications 170745684 807627085 4.73 0.19 Shanghai 600688 Petrochem 720000000 4219200000 5.86 1.2 600690 Qingdao Haier 449897074 3851118953 8.56 0.86 600705 North Asia Group 358915200 2060173248 5.74 0.48 600717 Tianjin Harbor 215221406 2716094144 12.62 0.68 600718 Alpine Soft 113258293 1163162669 10.27 0.3 600724 Ningbo Fuda 157475767 1300749835 8.26 0.31 600737 Xinjiang Dunhe 406285026 5939887080 14.62 1.47 Bus Public 600741 Transport 336000000 1448160000 4.31 0.33 600744 Huayin Power 288288000 1689367680 5.86 0.45 600748 Pudong Stainless 156970021 959086828 6.11 0.23 600754 Jinjiang Hotel 98360000 558684800 5.68 0.16 600757 Huayuan Dev 140400000 678132000 4.83 0.15 600770 Zongyi Co. 99000000 1078110000 10.89 0.26 600776 Eastern Comms 118000000 633660000 5.37 0.16
38 600778 Friendship Group 171312867 801744218 4.68 0.18 600779 Quanxin Co. 191312880 845602930 4.42 0.18 600795 Guodian Power 351947981 4138908257 11.76 1.06 600805 Yueda Investment 309490514 1869322705 6.04 0.42 600808 Maanshan Steel 600000000 2820000000 4.7 0.94 600811 Orient Co. 441976586 3062897741 6.93 0.64 Northern China 600812 Medicine 469268624 2355728492 5.02 0.61 600816 An Shan Trust 266674747 1253371311 4.7 0.27 600820 Tunnel Engineering 266473435 1566863798 5.88 0.36 600832 Oriental Pearl 219641486 3189194377 14.52 0.89 600835 Shanghai Electric 224294400 2121825024 9.46 0.55 Shanghai No. 9 600838 Dept Store 196862757 937066723 4.76 0.2 600839 Changhong Elec 951402345 6431479852 6.76 1.54 600849 Shanghai Pharm 286062603 2002438221 7 0.48 600851 Haixin Co. 183678936 2351090381 12.8 0.54 600854 Chunlan Co. 198241871 1219187507 6.15 0.27 600863 Mengdian 395460026 2681218976 6.78 0.56 600866 Xinghu Technology 194380454 1181833160 6.08 0.25 600868 Meiyan Co. 888017286 3623110527 4.08 0.8 Yizheng Chemical 600871 Fibre 200000000 1054000000 5.27 0.23 Chuangye Environment 600874 Protection 112495000 820088550 7.29 0.31 600887 Yili Industrial 257710710 3048717699 11.83 0.69 China Property 600890 (Zhong Fang Co.) 205095495 4237272927 20.66 1.05 600894 Guanggang Steel 161690265 1050986723 6.5 0.28 Zhangjiang Hi-tech 600895 park 431470806 2722580786 6.31 0.65
39 Listed Companies
Conditions For Listing Pursuant to the stipulations contained in the “Securities Law of the People’s Republic of China” and “Company Law of the People’s Republic of China”, limited companies applying for public listing shall meet the following conditions： The shares must have been publicly issued following approval of the States Council Securities Management Department. The company’s total stock value must not be less than RMB 50 million. The company must have been in business for more than 3 years and have been running in profits over the last three consecutive years. In the case of former state-owned enterprises being restructured according to the law or founded after the promulgation of the law and if their issuers are large and medium state owned enterprises, the profit can be calculated on the cumulative basis. The number of shareholders with a stock value in excess of RMB 1,000 shall not be less than 1,000 persons. Publicly offered shares must be more than 25% of the company’s total stock. For company’s whose total stock value in excess of RMB 400 million, the ratio of publicly offered shares must be more than 15%. The company must not have clean record, free from major illegal activities or false accounting practices in the last three years. Satisfies other relevant conditions stipulated by the State Council. Applicants in the high and new technology sector shall meet other conditions set by the State Council.
Listing Procedures Companies with limited liability applying for public listing shall follow procedures described hereafter: 1. CSRC approval. The applicant shall obtain prior approval from the China Securities Regulatory Commission; 2. Submission of listing documents. After obtaining approval from the CSRC, the applicant may apply to the Shanghai Stock Exchange for public listing, the applicant shall furnish complete documentation to the SSE for approval; 3. Share custody. Before a company’s shares can be listed and trading commenced, it must entrust its full register of shareholders to the Shanghai Branch of the China Securities Regulation and Clearing Co. Ltd; 4. Determining date of listing; 5. Issuing public notice on listing. Following examination and verification of the SSE, the company must publish a listing notice no later than 5 days before the listing; 6. Stocks are officially offered and traded on the SSE.
40
Documents required in applying for listing According to the provisions of the “Securities Law of the People’s Republic of China”, limited liability companies must submit the following documents when applying for listing to the Securities Supervisory bodies of the State Council: 1. Listing Announcement; 2. Resolution of the Shareholder's meeting on listing application. 3. Article of Association; 4. Business license; 5. Financial accounting books and reports of the past three years or since the founding of the company verified by legally authorized organizations; 6. Legal opinions in writing and a letter of recommendation from a securities company; 7. The most recent listing prospectus. In addition, companies must submit the following related documents according to the provisions of the Exchange’s rules for the listing of shares: 1. Listing Application; 2. Documents from the CSRC approving its share issue and issue and listing declarations approved by the CSRC; 3. New financial statements required following the public offering. 4. Photocopies of company business license; 5. Personal particulars and contact details of the secretary of the board, securities representative and legal representative of the company; 6. Report regarding shares owned by the company directors, supervisors and senior management of the company; 7. Circular detailing the abbreviated form and code of the stock; 8. Documentation to prove the company stock has been put in full custody; 9. A written pledge from the company’s largest shareholder promising not to sell or repurchase its shares for at least a period of twelve months; 10. Other documents required by the Exchange.
Conditions for Share Placements The company must have a sound corporate governance structure, have independence from any other legal person entities or parties to which it is associated or afficiliated, have independent control over company's human resource, asset integrity and financial autonomy. The company’s article of association must conform to the provisions of the “Company Law” and “Directions for the Articles of Listed Companies”.
41 The notification of general meeting of shareholders, method of convening, voting and passing of resolutions must conform to the “Company Law” and other relevant provisions. The use of capital raised through the placing of shares must conform to the provisions of the Nation industrial policy. In principle, the amount of capital raised must not exceed the amount of financing requirements approved by the general meeting of shareholders of the company for planned investment projects. There must be no instances of the holding of capital or assets by individuals; legal persons or other organizations and their associates or other major associated dealing that damages the interests of the company. The average weighted average net assets earning rate of the company over the last 3 financial years must not be less than 6% as verified by certified public accountant; The lower of either net profits after deduction of non recurrent net profits and loss or net profits before deduction is taken as the basis for calculation of the weighted average net assets earning rate. In cases where the company has been established less than 3 financial years, the calculation is made according to the financial year following the established of the company. In principle, the total number of a one-off share placement by a company must not exceed 30% of share capital of the previous share issue. If the company has a shareholder with working control offering to buy all placed stock, it is not subject to the above proportional limits. Each placement must be not less than 1 financial year from the previous share placement. If a company engages in major purchases or disposal of assets and securities, it must conform to the relevant regulations of CSRC.
Special Treatment When abnormal circumstances occur in a company’s financial or other status making it difficult for investors to judge the future of the company and resulting in the possibility of compromising investors’ interests, the company will be subject to the following special treatment: 1. The letters “ST” are placed before the abbreviation of the company’s stock to differentiate it from other shares. 2. A daily rise and fall restrictions of 5% are placed on the company’s stock.
It is considered an abnormal financial status when any of the following occur to a listed company: 1. The company has shown negative net profit for two consecutive years in annual auditing； 2. The recent audited shareholder equity is below the company registered capital, i.e., net asset per share falls below share face value；
42 3. The certified accountant is unable to give its professional opinion or approval to the recent accounting report； 4. The audited shareholder equity adjusted by deductions suggested by the accounting agency or other relevant authorities falls below registered capital； 5. If the recent audited financial statement is used to adjust profit of last year, will cause loss for two consecutive years； 6. The company is considered in abnormal financial condition by the SSE or the CSRC.
Scenarios of abnormal conditions are described as follows: The company suffers major loss in its operating facility due to natural disasters or accidents, and as a result has to cease business activity for an extended period longer than three months； The company is involved in litigation or arbitration and is ordered by the court or arbitration authority to pay penalty that is in excess of 50% of the company's audited net asset； The company's main bank account is suspended, hence seriously affecting the company's normal business activity； The Board of Directors decides, in view of abnormal situations faced by the company, to apply to SSE for special treatment to the company stock； The company is in the process of bankruptcy application that may cause the company to liquidate； The Board of Directors is unable to conduct meeting or form decisions； The major debtor of the company is ordered by the court decision to be in bankruptcy process, and the company has not or unable to set aside sufficient bad debt write off, causing major financial risks to the company； Other abnormal situation judged by the CSRC or SSE.
If the listed company recovers from abnormal financial condition, it may apply to the SSE for releasing the Special Treatment order. The following conditions must be met before a company can apply for ST lifting： The company's main business is operating in normal condition； The company's net profit after deducting non-regular expense is in positive. The SSE will in such case, decide in view of the recent situation of the company, whether to lift ST treatment imposed on the company.
Suspension and Delisting The company will be suspended from listing if one of the following situations occurs: Changes in the company equity structure and value have made it disqualified from listing；
43 The company does not disclose its financial statement according to law or make false financial reports； The company is found to have committed major law breaking activity； The company has been in loss for three consecutive years; The SSE has the right to suspend stock trading on a particular securities if one of the situations from 1,2,3 bullet points occurs, and delist the company if situation 4 occurs.
The company may be delisted if one of the following situations occurs: 1.If the situation described in Article 2 or 3 occurs, with serious results； 2.If the situation described in Article 1,4 on delisting occurs with verified serious result, and the company is unable to remove such conditions within a certain period ordered by the supervisory authority； 3.The company disolves or is ordered bankruptcy or closure by the competent authority.
On Nov. 30th, 2001, the CSRC issued the Draft Measures of Implementation on Suspension and Delisting of Listing Companies. According to the draft measure, the SSE will decide, according to law, to suspend or delist particular securities from further trading if such companies have been operating in loss for several consecutive years. The SSE expert panel will form an opinion after examining the issue. The SSE will decide to suspend or delisting such securities in accordanc with the expert panel's advisory opinion. (1) The company is unable to disclose the first mid-year report after suspension； (2) The company has disclose the first mid-year report after suspension but is unable to apply for re-listing within five trading days after the disclosure； (3) The company's relisting request has not been accepted by the SSE； (4) The company's application for relisting is not approved by the SSE； (5) The company is still operating in loss according to the first quarter report after re-listing； (6) The shareholder meeting decides to de-list the company during suspension period.
Listing Agreement Listing Agreement is signed between the company intending for public listing and the SSE, the agreement covers the following main points:
The SSE will provide trading facility and other services to the company applying for listing; The listing company pledges to comply fully with relevant securities laws and regulations, SSE rules and other conditions applicable.
44 The Board Directors, Supervisors and senior management members of the company commit to accept SSE supervision and penalties if violating SSE rules and other regulations applicable. Listing fees and methods of payment； The SSE can, according to law, cease trading on particular securities. In case a particular securities no longer meets the condition for listing, the SSE has the right to suspend trading or delist such securities from the trading.
Listing Expenses
1. The listing fee is 0.03% of the market cap on initial listing plus a monthly administrative fee of 500RMB; 2.The listing fee for RMB special purpose stock is 0.1% of the market cap, converted to USD on official exchange rate, with a limit not exeeding 5000USD, the monthly service charge is 50USD per month.
Historical Data of Company Listing and Industry Distribution
Real Public Compre- Year Industry Commerce Estate Utilities hensive Total 1991 320038 1992 20 3 1 1 4 29 1993 63 14 8 11 10 106 1994 93 34 9 15 20 171 1995 109 34 9 12 24 188 1996 164 46 9 22 52 293 1997 218 50 9 33 73 383 1998 257 49 9 38 85 438 1999 291 49 9 39 96 484 2000 347 54 9 50 112 572 2001 402561359116646 2002 451 60 15 67 122 715 2003 505 60 15 72 128 780
45 Geographical Distribution of Publicly Listed Companies
Region No. of Listed Percentage No. of New Listings Percentage Companies (%) in 2003 (%) Shanghai 142 18.21 3 4.48 Jiangsu 59 7.56 13 19.4 Zhejiang 55 7.05 7 10.45 Beijing 52 6.67 6 8.96 Shandong 42 5.38 1 1.49 Sichuan 33 4.23 1 1.49 Hubei 30 3.85 1 1.49 Guangdong 29 3.72 5 7.46 Liaoning 28 3.59 0 0 Fujian 27 3.46 2 2.99 Helongjiang 24 3.08 0 0 Anhui 21 2.69 4 5.97 Jilin 21 2.69 3 4.48 Xinjiang 20 2.56 3 4.48 Henan 20 2.56 3 4.48 Tianjin 16 2.05 1 1.49 Hebei 16 2.05 2 2.99 Jiangxi 15 1.92 1 1.49 Neimenggu 15 1.92 0 0 Hunan 14 1.79 3 4.48 Shanxi 14 1.79 1 1.49 Chongqing 13 1.67 0 0 Shanxi 12 1.54 3 4.48 Yunnan 11 1.41 1 1.49 Gansu 10 1.28 0 0 Guangxi 9 1.15 2 2.99 Guizhou 8 1.03 0 0 Hainan 8 1.03 0 0 Qinghai 6 0.77 0 0 Tibet 6 0.77 0 0 Ningxia 4 0.51 1 1.49
46 New Listings in 2002
The Shanghai Stock Exchange has a total of 824 listings as effective by the end of 2003, with an increase of 65 than last year. Among them, 770 are offered in A shares, 54 are in B shares. The number of listed companies grew to 780, with an increase of 9.09% than last year. The total number of stock for public offering reached 417 billion shares, 11.86% higher than 2002. Among them, 115.7 billion shares are tradable in the market, 16.57% higher than last year. By the end of 2002, total market capitalization and value of tradable stock reached RMB 3,009.7 billion yuan and 827.4 billion yuan.
Offering Opening Closing Offering Code Name of Stock Field Price Price Price Date (yuan) (yuan) (yuan) 600004 Baiyun Airport Public Utilities 5.88 2003-04-28 7.72 8.75 Wantong 600012 Expressway Public Utilities 2.2 2003-01-07 4.2 4.33 600015 Huaxiang Bank Comprehensive 5.6 2003-09-12 7.48 7.15 Zhongyuan 600020 Expressway Public Utilies 6.36 2003-08-08 8 7.62 Shanghai 600021 Electricity Industry 5.8 2003-10-29 8.51 8.67 600029 Southern Airline Public Utilities 2.7 2003-07-25 3.91 3.88 600030 CITICSecurities Comprehensive 4.5 2003-01-06 5.53 5.01 Sanyi Heavy 600031 Industry Industry 15.56 2003-07-03 23 21.3 Si Chuan Lu Qiao (Si Chuan Road 600039 infrastuture) Industry 6.87 2003-03-25 8.98 9.07 600184 Xin Hua Guang Industry 6.14 2003-11-06 10.5 10.71 600251 Guannong Co. Comprehensive 5.75 2003-06-09 11.05 10.76 Airospace 600271 Information Industry 23.04 2003-07-11 29.18 29.13 600273 Hua Fang Textile Industry 4.83 2003-06-27 7.2 7.04 600340 Guoxiang Co. Industry 7.3 2003-12-30 8.7 8.92 600343 Airospace Power Industry 3.68 2003-04-08 10.6 12.07 Guo Yang New 600348 Power Industry 8.2 2003-08-021 9.01 9.08 Zhejiang 600352 Longsheng Industry 8.51 2003-08-01 11.1 11.2 600370 San Fang Xiang Industry 7.62 2003-03-06 11.78 11.3 Xingma 600375 Automobile Industry 9.9 2003-04-01 28 26.1 Taigong 600392 Tiancheng Industry 9.73 2003-05-29 19.01 18.97 Jiangsu 600401 Shenglong Industry 8 2003-09-24 11.8 12.19 Xing Wang Visual 600403 Media Comprehensive 6.67 2003-10-09 12.5 12.46 600406 Guodian Nanrui Industry 10.39 2003-10-16 15.91 15.61 600408 Antai Group Industry 5.09 2003-02-12 9.59 9.87
47 600409 Sanyou Chemical Industry 6 2003-06-18 8.31 8.43 600423 Liuhua Co. Industry 6.96 2003-07-17 8.63 8.87 Qing Song Jian 600425 Hua Industry 4.3 2003-07-24 8.03 8.06 600429 Sanyuan Co. Industry 2.6 2003-09-15 6.58 7.3 600432 Jie En Nickel Industry 4.66 2003-09-05 8.5 10.17 Guang Hao 600433 Hi-tech Industry 4.6 2003-06-19 10.18 10.75 Bei Fang Tian 600435 Niao Industry 9.6 2003-7-4 13 13.11 600436 Pian Zai Huang Industry 8.55 2003-6-16 15.89 15.98 600439 Rui Bei Ka Industry 10.4 2003-7-10 14.88 15.39 Jinzheng 600446 Techonology Comprehensive 13.11 2003-12-24 16.11 16.13 600449 Sai Ma Industrial Industry 6.7 2003-8-29 7.52 7.84 600459 Gui Yan Platinum Industry 6.8 2003-5-16 15.02 14.79 600460 Shi Lan Wei Industry 11.6 2003-3-11 20.1 21.17 600462 Shixian Paper Industry 4.54 2003-9-3 7.38 7.19 600469 Fengshen Co. Industry 4.3 2003-10-21 7.45 7.39 600475 Huaguang Co. Industry 4.92 2003-7-21 8.22 8.98 Xiangyou 600476 Technology Industry 5.18 2003-12-10 11.23 11.99 600477 Hangxiao Steel Industry 11.24 2003-11-10 15.33 15.05 Liyuan New 600478 Material Industry 4.93 2003-9-18 11.18 9.58 600480 Lingyuan Co. Industry 3.48 2003-8-15 7.58 6.96 600481 Shuangliang Co. Industry 7.24 2003-4-22 10.51 10.6 Zhong Chuang 600485 Xing Ce Industry 10.21 2003-8-7 17.79 19.11 Heng Tong 600487 Optical Industry 11.2 2003-8-22 13.3 13.04 600489 Zhongjin Gold Industry 4.05 2003-8-14 7.77 8.82 Zhong Ke He 600490 Cheng Industry 7 2003-6-26 15.63 14.73 600502 An Hui Hydrolic Comprehensive 5.68 2003-4-15 11.51 11.69 600507 Changli Co. Industry 6.5 2003-9-30 8.5 8.63 600513 Lianhuan Pharma Industry 7.88 2003-3-19 19.58 18.56 600517 Zhixin Electric Industry 6.3 2003-10-10 12.3 12.73 600521 Huahai Pharma Industry 15.55 2003-3-4 22.48 22.06 Southern China 600527 Fiber Industry 5.52 2003-11-27 9.58 9.42 600537 Haitong Group Comprehensive 6 2003-1-23 12 13 600538 Bei Hai Guo Fa Industry 6.69 2003-1-14 13.88 14.23 Xinjiang 600545 Infrastructure Industry 5.96 2003-12-3 8.6 8.6 Zhong You Hua Jian (Chemical 600546 Engineering) Industry 10.51 2003-7-31 12.75 12.75 600547 Shandong Gold Industry 4.78 2003-8-28 10.2 10.71 600562 Gaochun Vaseline Industry 7.2 2003-1-28 15.02 15.48 Hengsheng 600570 Electric Industry 15.53 2003-12-16 20 19.95
48 600573 Huiquan Beer Industry 7.44 2003-2-26 11.58 11.59 600575 Wuhu Harbor Public Utilities 7.08 2003-3-28 12.47 12.01 600576 Qingfeng Co. Industry 6.28 2003-2-20 11.5 11.37 Changdian 600584 Technology Industry 7.19 2003-6-3 13.7 13.74 Changjiang 600900 Electricity Industry 4.3 2003-11-18 6.23 6.18
49 New Listings in 2003
Code Name of Issuing Circulation Issuing Drawi Amount P/E Ratio Stock Method (10 thousand Price ng Raised Shares) (Yuan) Ratio (10 thousand Yuan) (%) CITIC 600030 Securities On-line offering 40000 4.5 0.28 180000 15 Wantong Cumulative 600012 Expressway on-line bidding 25000 2.2 0.31 55000 12.22 Beihai Cumulative 600538 Guofa on-line bidding 4500 6.69 0.07 30105 18.08 Haitong Cumulative 600537 Group on-line bidding 5000 6 0.08 30000 20 Gaochun Cumulative 600562 Vaseline on-line bidding 3000 7.2 0.05 21600 19.89 Antai Cumulative 600408 Group on-line bidding 7000 5.09 0.1 35630 19.99 Qingfeng Cumulative 600576 Co. on-line bidding 6000 6.28 0.08 37680 20 Huiquan Cumulative 600573 Beer on-line bidding 6300 7.44 0.09 46872 20 Huahai Cumulative 600521 Pharma on-line bidding 3500 15.55 0.05 54425 19.98 San Gang Cumulative 600370 Xiang on-line bidding 5500 7.62 0.08 41910 20 Shi Lan Cumulative 600460 Wei on-line bidding 2600 11.6 0.04 30160 20 Lianhuan Cumulative 600513 Pharma on-line bidding 2000 7.88 0.04 15760 19.98 Si Chuan Road Infrastructu Cumulative 600039 re on-line bidding 10000 6.87 0.12 68700 14.93 Wuhu Cumulative 600575 Harbour on-line bidding 4500 7.08 0.07 31860 20 Xingma Cumulative 600375 Automobile on-line bidding 3000 9.9 0.05 29700 6.78 Airospace Cumulative 600343 Power on-line bidding 6500 3.68 0.09 23920 20 An Hui Cumulative 600502 Hydrolic on-line bidding 5800 5.68 0.08 32944 20 Shuanglian Cumulative 600481 g Co. on-line bidding 8000 7.24 0.1 57920 20 Baiyun Cumulative 600004 Airport on-line bidding 40000 5.88 0.43 235200 12.25 Gui Yan Cumulative 600459 Platinum on-line bidding 4000 6.8 0.06 27200 19.3 Taigong Cumulative 600392 Tiancheng on-line bidding 2370 9.73 0.04 23060.1 17.69 Changdian Science & Cumulative 600584 Technology on-line bidding 5500 7.19 0.08 39545 18.92 600251 Guannong Cumulative 4000 5.75 0.06 23000 19.99
50 Co. on-line bidding Pian Zai Cumulative 600436 Huang on-line bidding 4000 8.55 0.06 34200 14.54 Sanyou Cumulative 600409 Chemical on-line bidding 10000 6 0.12 60000 20 Guang Hao Cumulative 600433 Hi-Tech on-line bidding 6000 4.6 0.08 27600 20 Zhong Ke Cumulative 600490 He Cheng on-line bidding 3000 7 0.05 21000 20 Huafang Cumulative 600273 Textile on-line bidding 9000 4.83 0.11 43470 19.32 Sanyi Heavy Cumulative 600031 Industry on-line bidding 6000 15.56 0.08 93360 13.41 Bei Fang Cumulative 600435 Tian Niao on-line bidding 4000 9.6 0.06 38400 19.2 Cumulative 600439 Rui Bei Ka on-line bidding 2400 10.4 0.04 24960 20 Airospace Cumulative 600271 Information on-line bidding 4200 23.04 0.06 96768 16.94 Cumulative 600423 Liuhua Co. on-line bidding 6000 6.96 0.08 41760 16.98 Huaguang Cumulative 600475 Co. on-line bidding 6000 4.92 0.08 29520 16.85 Qing Song Hua Jian (Chem. Engineerin Cumulative 600425 g) on-line bidding 6000 4.3 0.08 25800 19.55 South Cumulative 600029 Airlines on-line bidding 100000 2.7 1.05 270000 18 Zhong You Hua Jian (Chem. Engineerin Cumulative 600546 g) on-line bidding 4000 10.51 0.06 42040 19.99 Zhejiang Cumulative 600352 Longsheng on-line bidding 5700 8.51 0.07 48507 14.05 Zhong Chuang Cumulative 600485 Xin Ce on-line bidding 1800 10.21 0.03 18378 18.23 Zhongyuan Cumulative 600020 Expressway on-line bidding 28000 6.36 0.31 178080 15.96 Zhongjin Cumulative 600489 Gold on-line bidding 10000 4.05 0.12 40500 20 Lingyun Cumulative 600480 Co. on-line bidding 6800 3.48 0.09 23664 14.26 Guo Yang Cumulative 600348 New Power on-line bidding 15000 8.2 0.17 123000 15.77 Heng Tong Cumulative 600487 Optical on-line bidding 3500 11.2 0.05 39200 20 Shandong Cumulative 600547 Gold on-line bidding 6000 4.78 0.08 28680 17.84 Sai Ma Cumulative 600449 Industrial on-line bidding 4800 6.7 0.07 32160 19.82 Shi Yan Cumulative 600462 Paper on-line bidding 5000 4.54 0.07 22700 26.09
51 Jie En Cumulative 600432 Nickel on-line bidding 6000 4.66 0.08 27960 17.92 Huaxia 600015 Bank On-line offering 100000 5.6 0.64 560000 19.86 San Yuan Cumulative 600429 Co. on-line bidding 15000 2.6 0.17 39000 20 Li Yuan New Cumulative 600478 Material on-line bidding 4000 4.93 0.06 19720 17.61 Jiang Su Sheng Cumulative 600401 Long on-line bidding 3000 8 0.05 24000 16.67 Chang Li Cumulative 600507 Co. on-line bidding 5000 6.5 0.07 32500 13.54 Xing Wang Visual Cumulative 600403 Media on-line bidding 3000 6.67 0.05 20010 19.62 Zhi Xing Cumulative 600517 Electrical on-line bidding 2500 6.3 0.04 15750 20 Guo Dian Cumulative 600406 Nan Rui on-line bidding 4000 10.39 0.06 41560 20 Feng Sheng Cumulative 600469 Co. on-line bidding 7500 4.3 0.1 32250 20 Shanghai Cumulative 600021 Electric on-line bidding 24000 5.8 0.28 139200 18.52 Xin Hua Cumulative 600184 Guang on-line bidding 3000 6.14 0.05 18420 19.37 Huang Xiao Cumulative 600477 Guang Gou on-line bidding 2500 11.24 0.04 28100 13.38 Changjiang Cumulative 600900 Electricity on-line bidding 232600 4.3 1.43 1000180 0 Southern Cumulative 600527 China Fiber on-line bidding 3000 5.52 0.05 16560 14.6 Xin Jiang Urban Infrastructu Cumulative 600545 re on-line bidding 6000 5.96 0.09 35760 19.75 Xiang You Cumulative 600476 Technology on-line bidding 3500 5.18 0.05 18130 18.5 Heng Shen Cumulative 600570 Electronics on-line bidding 1700 15.53 0.03 26401 19.99 Jin Zheng Cumulative 600446 Technology on-line bidding 1800 13.11 0.03 23598 19.71 Guo Xiang Cumulative 600340 Co. on-line bidding 4000 7.3 0 29200 20
52 New Listings in 2003 (Continued)
Code Name of Issuing Date Listing Date Date of Undertaker Prospectus Stock CITIC Guangfa 600030 Securities 20021217 20030106 20021213 Securities Wantong Guo Tai Jun An 600012 Expressway 20021223 20030107 20021218 Securities Bei Hai Guo Pingan 600538 Fa 20021227 20030114 20021224 Securities Hai Tong Guangfa 600537 Group 20030108 20030123 20030103 Securities Gao Cun Huatai 600562 Ceremics 20030113 20030128 20030108 Securities Hualong 600408 An Tai Group 20030120 20030212 20030115 Securities Qing Feng Guangda 600576 Co. 20030127 20030220 20030122 Securities Hui Quan Xinjiang 600573 Beer 20030211 20030226 20030128 Securities Jua Hai Zhaoshang 600521 Pharma 20030217 20030304 20030212 Securities San Fang Xingye 600370 Xiang 20030219 20030306 20030214 Securities Guangda 600460 Shi Lan Wei 20030224 20030311 20030219 Securities Lian Hua Nanfang 600513 Pharma 20030304 20030319 20030227 Securities Si Chuan Road Huaxia 600039 Infrastructure 20030310 20030325 20030305 Securities Guoyuan 600575 Wu Hu Port 20030313 20030328 20030308 Securities Xing Ma Shen Yin Wan 600375 Atuo 20030317 20030401 20030312 Guo Securities Airospace 600343 Power 20030324 20030408 20030319 中银国际 An Hui Hua An 600502 Hydroloic 20030331 20030415 20030326 Securities Shuang Liang Guo Tai Jun An 600481 Co. 20030407 20030422 20030402 Securities Baiyun 600004 Airport 20030414 20030428 20030409 Zhongjin Co. Gui Yan Greatwall 600459 Platinum 20030421 20030516 20030416 Securities Tai Gong Guoxin 600392 Tian Cheng 20030514 20030529 20030430 Securities Chang Dian Taiyang 600584 Technology 20030519 20030603 20030514 Securities Guan Nong Xinjiang 600251 Co. 20030526 20030609 20030521 Securites Pian Zai Guangda 600436 Huang 20030530 20030616 20030527 Securities San You Guo Tai Jun An 600409 Chemical 20030604 20030618 20030531 Securities
53 Guang Hao Guangdong 600433 Hi-Tech 20030605 20030619 20030602 Securities Zhong Ke He Xiangcai 600490 Cheng 20030611 20030626 20030606 Securities Hua Fang Pingan 600273 Textile 20030612 20030627 20030609 Securities San Yi Heavy Xiangcai 600031 Industries 20030618 20030703 20030613 Securities Bei Fang Tian Hualong 600435 Niao 20030619 20030704 20030616 Securities Zhongxin 600439 Rui Bei Ka 20030625 20030710 20030620 Securities Airospace Guo Tai Jun An 600271 Information 20030626 20030711 20030623 Securities Dapeng 600423 Liu Hua Co. 20030702 20030717 20030627 Securities Hua Guang Huatai 600475 Co. 20030704 20030721 20030701 Securities Qing Song Hua Jian (Chem. Hebei 600425 Engineering) 20030709 20030724 20030704 Securities South Yinhe 600029 Airlines 20030710 20030725 20030707 Securities Zhong You Hua Jian (Chem. Guangzhou 600546 Engineering) 20030716 20030731 20030711 Securites Zhejiang Xingye 600352 Long Sheng 20030717 20030801 20030714 Securities Zhong Chuang Xing Guangfa 600485 Ce 20030723 20030807 20030718 Securites Zhong Yuan Zhongxin 600020 Expressway 20030724 20030808 20030721 Securities Zhong Jin Yinhe 600489 Gold 20030730 20030814 20030725 Securities Hua An 600480 Ling Yun Co. 20030731 20030815 20030728 Securities Guo Yang Huaxia 600348 New Energy 20030806 20030821 20030801 Securities Heng Tong Ping An 600487 Optical 20030807 20030822 20030804 Securities Shan Dong Tiantong 600547 Gold 20030813 20030828 20030808 Securities Sai Ma Haitong 600449 Industrial 20030814 20030829 20030811 Securities 600462 Shi Yan Paper 20030820 20030903 20030815 China Xinda Northeast 600432 Jie En Nickel 20030821 20030905 20030818 Securities 600015 Huaxia Bank 20030826 20030912 20030822 南方 Securities Xingye 600429 San Yan Co. 20030829 20030915 20030826 Securities Li Yuan New Taiyang 600478 Material 20030903 20030918 20030829 Securities Jiang Su Northeast 600401 Sheng Long 20030910 20030924 20030905 Securities
54 600507 Chang Li Co. 20030916 20030930 20030911 Huarong Assets Xing Wang Taiyang 600403 Visual Media 20030917 20031009 20030912 Securities Zhi Xing Huatai 600517 Electric 20030918 20031010 20030915 Securities Guo Dian Southern China 600406 Nan Rui 20030924 20031016 20030919 Securities Feng Sheng Hebei 600469 Co. 20030929 20031021 20030924 Securities Shanghai 600021 Electric 20031014 20031029 20031009 Guo Tai Jun An New Hua 600184 Guang 20031022 20031106 20031017 West Securities Hang Xiao Gang Gou (Steel Dapeng 600477 Architecture) 20031024 20031110 20031021 Securities Changjiang CITIC 600900 Electricity 20031105 20031118 20031028 Securities Southern Shen Yin Wan 600527 China Fiber 20031112 20031127 20031107 Guo Xing Jiang Urban Huatai 600545 Infrastructure 20031118 20031203 20031113 Securities Xiang You Changjiang 600476 Technology 20031125 20031210 20031120 Securities China International Heng Sheng Financial Co. 600570 Electronics 20031201 20031216 20031126 Ltd. Jin Zheng Tianyi 600446 Technology 20031209 20031224 20031204 Securities Guo Xiang United 600340 Co. 20031215 20031230 20031210 Securities
55 Shares Placement by Listed Companies in 2003
14 listed companies proposed secondary shares placement in 2003 with a total of RMB 3.661 billion yuan raised.
Code Name of Date of Date of Date of Date of Place- Net Stock Public Equity Equity Listing Notice for Change Registration ment Capital Secondary Price Raised Placement (Yuan) (10 thousand Yuan) Jianfeng 600668 Group 20030111 20030228 20030120 20030304 5 21812 Futian 600166 Automobile 20030301 20030328 20030310 20030402 9.35 22440 Chengxing 600078 Co. 20030404 20030515 20030414 20030520 8.98 17855 Eruo-Asia 600697 Group 20030425 20030604 20030513 20030609 6.6 12853 Hunan 600731 Haili 20030517 20030619 20030526 20030623 5.44 12182 Changchun 600215 Jingkai 20030523 20030620 20030602 20030625 8 41374 Yatai 600881 Group 20030607 20030704 20030616 20030708 4.77 39426 Fangzheng Science & 600601 Technology 20030630 20030729 20030708 20030731 5.58 62482 Shanghai 600171 Beiling 20030724 20030826 20030731 20030829 7.27 34742 600125 Tielong Co. 20030730 20030826 20030806 20030829 6.66 20135 600038 Hefei Co. 20030830 20030926 20030908 20031008 14.09 27476 Shanghai Science & 600608 Technology 20030906 20031013 20030912 20031015 10.26 29869 Liaoning 600739 Chengda 20031018 20031119 20031027 20031124 8 23475 Kainuo 600398 Technoloby 20031219 20031226 6.79 0
56 Overview of Dividend Payment by Listed Companies in 2003
Code Name of Date of Pre-tax After-tax Total number of Total Dividend Dividend Dividend in Abbrev. Payment Dividend Dividend Shares Paid Paid (Yuan) (Yuan) Dividend (Yuan) (share) Tian Tan Bio-Medici ne 720161 Dividend 20030319 0.1 0.08 48000000 3840000 Guyao Glass 720660 Dividend 20030320 0.15 0.12 144490039 17338805 Yun Wei 720725 Dividend 20030331 0.2 0.16 37500000 6000000 Tie Long 720125 Dividend 20030402 0.1 0.08 90776000 7262080 Lanzhou Aluminum 720296 Dividend 20030404 0.15 0.12 110000000 13200000 Tian Chuang 720791 Dividend 20030404 0.05 0 99000000 0 Ya Tai 720881 Dividend 20030404 0.05 0.04 275515620 11020625 Jinkai 720215 Dividend 20030411 0.1 0.08 165360000 13228800 Euro-Asia 720697 Dividend 20030411 0.2 0.16 64912299 10385968 Wo Long 720580 Dividend 20030411 0.2 0.16 35000000 5600000 Bao Shuo 720155 Dividend 20030415 0.1 0.08 120000000 9600000 Yin Kou Port 720317 Dividend 20030416 0.024 0.019 100000000 1900000 Shanghai Port 720018 Dividend 20030417 0.4 0.32 210000000 67200000 Mingsheng Bank 720016 Dividend 20030418 0.06 0.008 523250000 4186000 Ming Feng 720235 Dividend 20030418 0.21 0.168 52000000 8736000 Shu Guang 720303 Dividend 20030418 0.2 0.16 92250000 14760000 Ye Dao 720238 Dividend 20030418 0.06 0.048 74000000 3552000 Wu Zhong 720200 Dividend 20030418 0.07 0.056 125100000 7005600 Chang Ling 720710 Dividend 20030421 0.07 0.016 74399999 1190400 Steel 720010 Union 20030422 0.15 0.12 350000000 42000000
57 Dividend Zi Jiang 720210 Dividend 20030422 0.3 0.24 171350913 41124219 Shan Ying 720567 Dividend 20030422 0.05 0.04 60000000 2400000 Yan Wei 720063 Dividend 20030423 0.125 0.1 99000000 9900000 Ling Gang Steel 720231 Dividend 20030423 0.15 0.12 164450000 19734000 China Aluminum 720205 Dividend 20030423 0.15 0.12 160000000 19200000 He Nan Beer 720132 Dividend 20030423 0.15 0.12 52000000 6240000 Fa La Electron 720563 Dividend 20030425 0.3 0.24 50000000 12000000 Mei Yan 720868 Dividend 20030425 0.11 0.08 853862775 68309022 Hai Li 720731 Dividend 20030428 0.02 0.016 74643075 1194289 China Chem Trade 720500 Dividend 20030428 0.25 0.2 180000000 36000000 Black Peony 720510 Divdend 20030430 0.5 0.4 48800000 19520000 Nan Shan 720219 Dividend 20030514 0.15 0.12 135000000 16200000 Fujian Expresswa 720033 y Dividend 20030515 0.05 0 200000000 0 Xiang Zheng 720711 Dividend 20030515 0.05 0.04 15120000 604800 Shou Chuang 720008 Dividend 20030516 0.35 0.28 300000000 84000000 Hua Yuan Pharma 720656 Dividend 20030516 0.04 0.032 50959989 1630720 Nei Mong Electricity 720863 Dividend 20030516 0.12 0.096 197730013 18982081 Qi Lian Shan 720720 Dividend 20030520 0.05 0.04 163160266 6526411 Guo Dian 720268 Dividend 20030521 0.15 0.12 40000000 4800000 Bo Rui 720880 Dividend 20030521 0.1 0.08 41877450 3350196 Hong Du 720316 Dividend 20030521 0.3 0.24 90000000 21600000 720171 Shanghai 20030522 0.06 0.048 202800000 9734400
58 Beiling Dividend Jin Lun Electronics 720355 Dividend 20030522 0.4 0.32 31000000 9920000 Kong Gu (Holdings) 720098 Dividend 20030523 0.3 0.24 234000002 56160000 Dong An 720178 Dividend 20030523 0.2 0.16 138580000 22172800 Yongor 720177 Dividend 20030523 0.2 0.16 225086558 36013849 Bei Ya 720705 Dividend 20030523 0.05 0.04 358915200 14356608 Bai Cun Lu 720381 Dividend 20030526 0.068 0.054 35000000 1890000 Hua Lian 720632 Dividend 20030526 0.12 0.096 124467083 11948840 Shuang He 720062 Dividend 20030528 0.1 0.08 185866200 14869296 Lan Tai 720328 Dividend 20030528 0.16 0.128 60000000 7680000 Gui Dong Electricity 720310 Dividend 20030528 0.3 0.24 45000000 10800000 Chi Tian Hua 720227 Dividend 20030528 0.2 0.16 70000000 11200000 Inland Water Shipping (Shui Yun) 720087 Dividend 20030528 0.4 0.32 72800000 23296000 Yao Bo 720529 Dividend 20030528 0.1 0.02 45463762 909275 Suzhou Hi-Tech 720736 Dividend 20030528 0.12 0.096 150930000 14489280 Fu Da 720724 Dividend 20030528 0.125 0.1 157475762 15747576 Bei Sheng 720556 Dividend 20030528 0.1 0.06 45405000 2724300 Ju Hua 720160 Dividend 20030529 0.25 0.2 114400000 22880000 Jin Ying 720232 Dividend 20030529 0.1 0.08 58500000 4680000 Jin Zi Tian 720560 Dividend 20030529 0.2 0.16 30000000 4800000 Su Fu Ma 720290 Dividend 20030529 0.03 0.024 45000000 1080000 Hua Xin 720801 Dividend 20030529 0.04 0.032 48000000 1536000 Lai Gang 720102 Dividend 20030530 0.25 0.2 202800000 40560000 Bei Fang 720262 Dividend 20030530 0.11 0.088 55000000 4840000
59 Xia Men Tunsten 720549 Dividend 20030530 0.3 0.24 30000000 7200000 Tian Jin Port 720717 Dividend 20030530 0.12 0.096 215221406 20661255 Xin Xin 720299 Dividend 20030530 0.1 0.08 80000000 6400000 Hua Tai 720308 Dividend 20030602 0.05 0 108000000 0 Xiang Dian 720416 Dividend 20030602 0.22 0.176 75000000 13200000 Bao Tai 720456 Dividend 20030602 0.15 0.12 60000000 7200000 Hai Tai 720537 Dividend 20030602 0.25 0.2 50000000 10000000 Xi Tu (Bauxite) 720111 Dividend 20030603 0.05 0.04 145600002 5824000 Hua Guan 720371 Dividend 20030603 0.03 0.004 40000000 160000 Hua Yang 720532 Dividend 20030603 0.125 0.1 40000000 4000000 Fang Xing 720552 Dividend 20030603 0.1 0.08 40000000 3200000 Gao Chun 720562 Dividend 20030603 0.1 0.08 31352232 2508179 Ren Fu 720079 Dividend 20030604 0.025 0 83486000 0 Hang Gang 720126 Dividend 20030604 0.2 0.16 165750000 26520000 Chuang Ye 720278 Dividend 20030604 0.1 0.08 80000000 6400000 Ping Gao 720312 Dividend 20030604 0.1 0.08 60000000 4800000 Jin Di 720383 Dividend 20030604 0.25 0.2 90000000 18000000 Teng Da Constructi on 720512 Dividend 20030604 0.15 0.12 60000000 7200000 Zhong Fu 720595 Dividend 20030604 0.2 0.1 50000000 5000000 Jiu Fa 720180 Dividend 20030605 0.2 0.16 79872000 12779520 Sheng Hua Bai Ke 720226 Dividend 20030605 0.15 0.12 97440000 11692800 Mei Luo 720297 Dividend 20030605 0.1 0.08 40000000 3200000 Heng Feng 720356 Dividend 20030605 0.05 0.04 60000000 2400000 Yun Sheng 720366 Dividend 20030605 0.15 0.12 78750000 9450000 China Software 720536 Dividend 20030605 0.3 0.24 30000000 7200000
60 Hong Cheng 720566 Dividend 20030605 0.05 0.04 44000000 1760000 Zhong Hua 720675 Dividend 20030605 0.2 0.16 318560122 50969620 Dong Feng 720006 Dividend 20030606 0.2 0.16 300000000 48000000 Lian He 720051 Dividend 20030606 0.1 0.08 85397858 6831829 Wei Wei 720300 Dividend 20030606 0.23 0.184 100000000 18400000 Jiu Gang 720307 Dividend 20030606 0.18 0.144 200000000 28800000 Guang Dong Parma 720332 Dividend 20030606 0.06 0.048 78000000 3744000 Jiang Ling Auto 720418 Dividend 20030606 0.25 0.2 88000000 17600000 Hua Lu 720426 Dividend 20030606 0.12 0.096 60000000 5760000 Yang Nong Chemical 720486 Dividend 20030606 0.2 0.16 30000000 4800000 Yu Guang 720531 Dividend 20030606 0.1 0.08 45000000 3600000 Jiang Xi River Shipping 720561 Dividend 20030606 0.15 0.12 30000000 3600000 Ba Yi Steel 720581 Dividend 20030606 0.2 0.12 130000000 15600000 Tong Bao Chem 720780 Dividend 20030606 0.05 0 168852961 0 Yi Min 720824 Dividend 20030606 0.15 0.12 89865492 10783859 Chuang Ye 720874 Dividend 20030606 0.085 0.068 150980000 10266640 Tong Feng Electronics 720237 Dividend 20030609 0.1 0.04 40000000 1600000 Chang He 720372 Dividend 20030609 0.17 0.136 110000000 14960000 Guo Yao 720511 Dividend 20030609 0.1 0.08 53000000 4240000 Fei Da 720526 Dividend 20030609 0.2 0.16 40000000 6400000 Tian Shi Li 720535 Dividend 20030609 0.5 0.4 50000000 20000000 Da Xi 720558 Yang 20030609 0.12 0.096 45000000 4320000 Hua Pao 720599 Dividend 20030609 0.1 0.08 39600000 3168000 Yu-Garden 720655 Dividend 20030609 0.08 0.064 149079457 9541085
61 Chuan Tou 720674 Dividend 20030609 0.025 0.02 154740608 3094812 Shan Shan 720884 Dividend 20030609 0.2 0.16 227984820 36477571 Amoisonic 720057 s Dividend 20030610 0.38 0.264 144000000 38016000 Shen Yi Tech 720183 Dividend 20030610 0.1 0.08 193689844 15495188 Tian Fang 720253 Dividend 20030610 0.05 0.04 120000000 4800000 Nin Hu Express 720377 Dividend 20030610 0.13 0.104 150000000 15600000 Jiang Zhong 720750 Dividend 20030610 0.1 0.08 62400000 4992000 Xin Hua 720782 Dividend 20030610 0.125 0.1 56160000 5616000 Wei Ke 720152 Dividend 20030611 0.1 0.08 110975000 8878000 Fu Xin Industrial 720196 Dividend 20030611 0.16 0.128 146250000 18720000 Lian Chuang 720363 Dividend 20030611 0.08 0.064 90000000 5760000 You Tong 720680 Dividend 20030611 0.04 0.032 27040000 865280 Xin Tian 720084 Dividend 20030612 0.1 0.08 89232000 7138560 Min Jiang 720131 Dividend 20030612 0.1 0.04 99950009 3998000 An Cai Hi-tech 720207 Dividend 20030612 0.2 0.16 180000000 28800000 Wuhan Steel 720005 Dividend 20030613 0.05 0 320000000 0 Youth Travel 720138 Dividend 20030613 0.12 0.1 117000000 11700000 Kong Gu 720168 Dividend 20030613 0.15 0.12 127500000 15300000 Da Sha 720327 Dividend 20030613 0.1 0.08 40000000 3200000 Tian Li 720339 Dividend 20030613 0.15 0.12 126000000 15120000 Kang Mei 720518 Dividend 20030613 0.25 0.2 18000000 3600000 Jing Da 720577 Dividend 20030613 0.1 0.08 20000000 1600000 Rong Tai 720589 Dividend 20030613 0.2 0.16 40000000 6400000 Lan Hua 720123 Dividend 20030616 0.1 0.08 144000000 11520000 720128 Hong ye 20030616 0.05 0.04 74123100 2964924
62 Dividend Tai Tai 720380 Dividend 20030616 0.35 0.28 105000000 29400000 Hai Long 720516 Dividend 20030616 0.1 0.08 80000000 6400000 Zhong Tian 720522 Dividend 20030616 0.12 0.096 70000000 6720000 Di Ma 720565 Dividend 20030616 0.36 0.288 20000000 5760000 Hai Luo Cement 720585 Dividend 20030616 0.05 0.04 200000000 8000000 Liao Yuan 720699 Dividend 20030616 0.016 0.01 91444830 914448 Xin Hua 720785 Dividend 20030616 0.12 0.096 64642511 6205681 Zhong Ji 720056 Dividend 20030617 0.1 0.08 39000000 3120000 Bright Diary 720597 Dividend 20030617 0.1 0.08 150000000 12000000 Specialty Steel 720117 Dividend 20030618 0.52 0.416 160000000 66560000 Le Kai Film 720135 Dividend 20030618 0.36 0.288 126000000 36288000 Yi Dong 720148 Dividend 20030618 0.06 0.048 42000000 2016000 Zhong Mu 720195 Dividend 20030618 0.123 0.098 120000000 11760000 Nan Fang 720250 Dividend 20030618 0.13 0.064 56941600 3644262 Capital Travel 720258 Dividend 20030618 0.19 0.152 70000000 10640000 Tian Lu 720326 Dividend 20030618 0.15 0.12 72000000 8640000 Cheng De Vanadium 720357 Dividend 20030618 0.3 0.24 100000000 24000000 China Shipping 720428 Dividend 20030618 0.13 0.104 130000000 13520000 Te Jin 720468 Dividend 20030618 0.05 0.04 30000000 1200000 Xin Ya Da 720571 Dividend 20030618 0.3 0.24 18000000 4320000 Tai Hao 720590 Dividend 20030618 0.1 0.08 40000000 3200000 Nan Yang 720661 Dividend 20030618 0.1 0.08 25455375 2036430 Guo Dian 720795 Dividend 20030618 0.06 0.048 351947981 16893503 Qian Jiang Motor 720796 Dividend 20030618 0.2 0.16 42237000 6757920
63 Zong He 720888 Dividend 20030618 0.08 0.064 29250004 1872000 China Trade (Guo Mao) 720007 Dividend 20030619 0.104 0.087 160000000 13920000 Yue Rong (cashmere) 720295 Dividend 20030619 0.29 0.232 80000000 18560000 Wan Hua 720309 Dividend 20030619 0.2 0.16 128000000 20480000 Hong Da 720331 Dividend 20030619 0.15 0.12 50000000 6000000 Hong Xing 720367 Dividend 20030619 0.2 0.12 39000000 4680000 Tian Hong 720419 Dividend 20030619 0.05 0.04 30000000 1200000 Ke Da 720499 Dividend 20030619 0.1 0.04 20000000 800000 Long Teng 720058 Dividend 20030620 0.3 0.24 120000000 28800000 Shanghai Auto (Shang Qi) 720104 Dividend 20030620 0.36 0.288 755999790 217727940 Quan Cai Diesel 720218 Dividend 20030620 0.02 0.016 101400000 1622400 Wan Jie 720223 Dividend 20030620 0.5 0.4 211315000 84526000 Gui Guan 720236 Dividend 20030620 0.21 0.168 143333333 24080000 Hai Zheng Pharma 720267 Dividend 20030620 0.05 0.04 64000000 2560000 Nan Hua 720301 Dividend 20030620 0.18 0.144 72890345 10496210 Rong Hua 720311 Dividend 20030620 0.1 0.08 80000000 6400000 Nan Hai 720323 Dividend 20030620 0.2 0.16 132419660 21187146 Jiang Shan 720389 Dividend 20030620 0.05 0.04 48000000 1920000 First Investment 720515 Dividend 20030620 0.02 0 61426175 0 Yu Feng 720559 Dividend 20030620 0.05 0.04 40000000 1600000 An Yang Steel 720569 Dividend 20030620 0.2 0.16 275000000 44000000 Jing Neng 720578 Dividend 20030620 0.115 0.092 100000000 9200000 Guan Dian 720602 Dividend 20030620 0.05 0.04 349972019 13998881 Guo Mai 720640 Dividend 20030620 0.03 0.024 55335771 1328059
64 Re Dian 720719 Dividend 20030620 0.08 0.064 76050000 4867200 Hai Yun 720798 Dividend 20030620 0.1 0.08 141449995 11316000 Gong Da 720857 Di v i de nd 20030620 0.05 0.04 91508797 3660352 Fu Run 720070 Dividend 20030623 0.15 0.12 40560002 4867200 Ke Da 720551 Dividend 20030623 0.08 0.064 25000000 1600000 You Hao 720778 Dividend 20030623 0.1 0.08 171312867 13705029 Xin Bai 720682 Dividend 20030623 0.15 0.12 152880000 18345600 Ya Bao 720351 Dividend 20030623 0.14 0.112 40000000 4480000 Zhong Tie 720528 Dividend 20030623 0.3 0.24 110000000 26400000 Shenzhen Experss 720548 Dividend 20030623 0.12 0.096 165000000 15840000 Bao Steel 720019 Dividend 20030624 0.2 0.16 1877000000 300320000 Bo Dao 720130 Dividend 20030624 0.35 0.28 40000000 11200000 Ya Xing 720213 Dividend 20030624 0.06 0.048 60000000 2880000 Biao Zhun 720302 Dividend 20030624 0.15 0.12 90000000 10800000 Ya Hua 720319 Dividend 20030624 0.1 0.08 80000000 6400000 Gas 720333 Dividend 20030624 0.1 0.08 161731200 12938496 Jin Jing 720586 Dividend 20030624 0.3 0.18 35000000 6300000 South West 720666 Dividend 20030624 0.1 0.08 63194176 5055534 Xin Tai 720728 Dividend 20030624 0.05 0.04 81120000 3244800 Shanghai Medicine 720849 Dividend 20030624 0.2 0.16 190708402 30513344 Zhong Hai 720026 Dividend 20030625 0.1 0.08 350000000 28000000 Oriental Pearl 720120 Dividend 20030625 0.05 0.02 131175677 2623514 Guo Dong 720321 Dividend 20030625 0.25 0.2 82500000 16500000 Guang 720382 Dong Pearl 20030625 0.15 0.12 60000000 7200000
Di Kiang 720466 Dividend 20030625 0.1 0.08 50000000 4000000 Xin An 720596 Dividend 20030625 0.18 0.144 81143963 11684731 720694 Da Shang 20030625 0.1 0.08 156171380 12493710
65 Dividend Tunnel Engineerin 720820 g Dividend 20030625 0.05 0.04 266473435 10658937 Rocket 720879 Dividend 20030625 0.05 0 137141235 0 Unicom 720050 Dividend 20030626 0.035 0.029 5000000000 145000000 Aohema 720336 Dividend 20030626 0.08 0.064 90000000 5760000 Infrastruct ure (Ji Jian) 720350 Dividend 20030626 0.11 0.088 505000000 44440000 Pudong Dev Bank 720000 Dividend 20030627 0.1 0.08 900000000 72000000 Hua Neng (China Power) 720011 Dividend 20030627 0.34 0.272 250000000 68000000 Wan Dong 720055 Dividend 20030627 0.1 0.08 39000000 3120000 Jian Fa 720153 Dividend 20030627 0.5 0.4 80000000 32000000 Alkali 720229 Dividend 20030627 0.15 0.12 124445373 14933445 Dong Ting Aquairy 720257 Dividend 20030627 0.1 0.08 40000000 3200000 Qian Jiang 720283 Dividend 20030627 0.15 0.12 85000000 10200000 An Qi 720298 Dividend 20030627 0.1 0.08 35000000 2800000 Home Cosmetics 720315 Dividend 20030627 0.15 0.12 80000000 9600000 Mei Ke 720337 Dividend 20030627 0.1 0.08 48000000 3840000 Kang Yuan 720557 Dividend 20030627 0.3 0.24 40000000 9600000 Tian Zheng 720620 Dividend 20030627 0.04 0.032 80465487 2574896 Jiao Yun 720676 Dividend 20030627 0.15 0.12 73400000 8808000 Cai Hong 720707 Dividend 20030627 0.18 0.144 143644801 20684851 Da Xian 720747 Dividend 20030627 0.062 0.05 226432109 11321605 Zhong Chu (China Storage) 720787 Dividend 20030627 0.035 0.028 126164986 3532620 Shang Ling 720835 Dividend 20030627 0.1 0.08 186912000 14952960 Chun Lan 720854 Dividend 20030627 0.1 0.08 198241871 15859350
66 Hai Sheng 720896 Dividend 20030627 0.1 0.08 156078044 12486244 Yin Feng 820058 Dividend 20030630 0.02 0.02 3000000000 60000000 China Petrochem 720028 Dividend 20030630 0.06 0.048 2800000000 134400000 Xin Fa 720141 Dividend 20030630 0.1 0.08 40000000 3200000 Tai Hua 720281 Dividend 20030630 0.015 0.012 105000000 1260000 Sun Tian 720287 Dividend 20030630 0.22 0.176 57200000 10067200 Da Heng 720288 Dividend 20030630 0.1 0.08 75000000 6000000 Yi Yang 720289 Dividend 20030630 0.2 0.16 40000000 6400000 Hong Dou 720400 Dividend 20030630 0.1 0.08 50000000 4000000 He Li 720761 Dividend 20030701 0.2 0.16 94220318 15075251 Yong Ding (Optical Fiber) 720105 Dividend 20030702 0.12 0.096 97500000 9360000 Hua Jian (Chem Engineerin g) 720176 Dividend 20030702 0.05 0.04 74200000 2968000 Tian Fu 720509 Dividend 20030702 0.25 0.2 60000000 12000000 Jiang Tong (Jiang Xi Copper) 720362 Dividend 20030704 0.03 0.024 230000000 5520000 Xin Yi 720587 Dividend 20030704 0.05 0.04 28800000 1152000 Qingtsao Beer 720600 Dividend 20030704 0.22 0.176 200000000 35200000 Guo Mao (China Trade) 720755 Dividend 20030704 0.1 0.08 126999999 10160000 Food 720616 Dividend 20030704 0.14 0.112 68481054 7669878 Xuan Feng 720172 Dividend 20030707 0.05 0.04 104000000 4160000 An Yuan 720397 Dividend 20030707 0.1 0.08 80000000 6400000 San Ai Fu 720636 Dividend 20030707 0.1 0.08 82372088 6589767 Sheng Gong 720189 Dividend 20030708 0.3 0.24 110500000 26520000 720202 Haerbin 20030708 0.01 0.008 100777600 806221
67 Airconditio ning Dividend Zhong Da 720704 Dividend 20030708 0.1 0.08 128383875 10270710 Shi Dai 720458 Dividend 20030709 0.1 0.08 35000000 2800000 Guang Dian 720637 Dividend 20030709 0.1 0.08 203805161 16304413 Bao Xin 720845 Dividend 20030709 0.05 0.04 24200004 968000 Ma An Shan Steel 720808 Dividend 20030710 0.035 0.028 600000000 16800000 Feng Jiu Liquor 720809 Dividend 20030710 0.024 0.019 76684133 1456999 San Jiu Pharma 720614 Dividend 20030710 0.1 0.08 8349393 667951 Petrochem 720688 Dividend 20030710 0.05 0.04 720000000 28800000 Yang Guang 720220 Dividend 20030711 0.02 0.016 135794241 2172708 Shi Dai 720241 Dividend 20030711 0.12 0.096 30000000 2880000 Wu Chang Yu 720275 Dividend 20030711 0.02 0.006 91000000 546000 Chang Dian 720505 Dividend 20030711 0.2 0.16 55000000 8800000 Usoft 720588 Dividend 20030711 0.6 0.48 25000000 12000000 Jiao Tong 720611 Dividend 20030711 0.18 0.144 142323426 20494573 White Cat 720633 Dividend 20030711 0.05 0.04 13200012 528000 Oriental Pearl 720832 Dividend 20030711 0.1 0.08 156886776 12550942 Nan Zhi Paper 720163 Dividend 20030714 0.2 0.16 91000000 14560000 Tong Wine 720365 Dividend 20030714 0.1 0.08 60000000 4800000 Tong Hua 720867 Dividend 20030714 0.2 0.16 157697280 25231565 Huagn Shan Mout. 720054 Dividend 20030715 0.02 0.016 52000000 832000 Jin Rui 720390 Dividend 20030715 0.14 0.112 40000000 4480000 720415 Xiao 20030715 0.1 0.08 31974499 2557960
68 Shang Pin Dividend Yun Nan Parma 720422 Dividend 20030715 0.32 0.256 40000000 10240000 Gui Hang 720523 Dividend 20030715 0.015 0.012 70000000 840000 Guo Fa 720538 Dividend 20030715 0.1 0.08 58160000 4652800 伊利 720887 Dividend 20030715 0.2 0.16 128855355 20616857 Yi li Te 720197 Dividend 20030716 0.28 0.224 75000000 16800000 Zhong Shang 720280 Dividend 20030716 0.06 0.048 72636584 3486556 Tian Hong 720376 Dividend 20030716 0.2 0.16 64000000 10240000 Xia Men Auto 720686 Dividend 20030716 0.2 0.16 57600000 9216000 Bai Da 720865 Dividend 20030716 0.13 0.104 135340088 14075369 Shanghai Diesel 720841 Dividend 20030716 0.1 0.08 21600000 1728000 Wan Tong Express 720012 Dividend 20030717 0.03 0.024 250000000 6000000 Han Dan Steel 720001 Dividend 20030718 0.11 0.088 490000000 43120000 Tong Ren Toang 720085 Dividend 20030718 0.3 0.24 99616608 23907986 Yun Zhou Coal 720188 Dividend 20030718 0.104 0.083 180000000 14940000 Jin Yu 720201 Dividend 20030718 0.3 0.24 50313250 12075180 Da Hua 720230 Dividend 20030718 0.05 0.04 80000000 3200000 Hua Ding 720243 Dividend 20030718 0.03 0.024 55000000 1320000 Xian Feng 720246 Dividend 20030718 0.1 0.08 30000000 2400000 Gang Jiu 720279 Dividend 20030718 0.07 0.056 86000000 4816000 Mao Tai Liquor 720519 Dividend 20030718 0.2 0.14 78650000 11011000 Haier 720690 Dividend 20030718 0.3 0.24 449897074 107975298 Tun He 720737 Dividend 20030718 0.05 0 290203590 0 Cheng 720861 Xiang 20030718 0.06 0.048 167310000 8030880
69 Dividend Neng Yuan 720508 Dividend 20030718 0.35 0.28 110000000 30800000
Gong Yong (public utilities) 720635 Dividend 20030718 0.18 0.144 329298542 47418990 Bus Transport 720741 Dividend 20030718 0.1 0.08 336000000 26880000 Tian Tong 720330 Dividend 20030721 0.125 0.1 60000000 6000000 Bing Shan 720346 Dividend 20030721 0.05 0.04 38500000 1540000 Xu Guang 720353 Dividend 20030721 0.28 0.224 36905728 8266883 Tian Ke 720378 Dividend 20030721 0.04 0.032 76050000 2433600 Si Huan Bio-Medici ne 720742 Dividend 20030721 0.08 0.064 103194000 6604416 Aang Li 720530 Dividend 20030721 0.21 0.168 50000000 8400000 Lu Jia Zui 720663 Dividend 20030721 0.05 0.04 160524000 6420960 Yun Da 720181 Dividend 20030722 0.02 0.016 168000000 2688000 Wu Zhou 720368 Dividend 20030722 0.09 0.072 102000000 7344000 China Merchant Bank 720036 Dividend 20030723 0.12 0.096 1500000000 144000000 Te Bian 720089 Dividend 20030723 0.1 0.08 130416000 10433280 Jiu Long 720292 Dividend 20030723 0.4 0.32 60000000 19200000 Heng Shun 720305 Dividend 20030723 0.14 0.112 40000000 4480000 Xin Nong 720359 Dividend 20030723 0.1 0.08 117000000 9360000 Haerbing Pharma 720664 Dividend 20030723 0.12 0.096 415538260 39891673 Luo Dun 720209 Dividend 20030724 0.03 0.024 97500000 2340000 Jing Ba Shi Li 720386 Dividend 20030724 0.32 0.256 80000000 20480000 Ya Sheng 720108 Dividend 20030725 0.05 0.04 329165200 13166608 Jiang Quan 720212 Dividend 20030725 0.08 0.064 191796347 12274966 Long Jing 720388 Dividend 20030725 0.07 0.056 65000000 3640000
70 Feng Huo 720498 Dividend 20030725 0.12 0.096 88000000 8448000 Tai Hang 720553 Co. 20030725 0.05 0.04 50000000 2000000 Zhe Da 720797 Dividend 20030725 0.06 0.048 232631818 11166327 Sheng Ma 720810 Dividend 20030725 0.05 0.04 141570000 5662800 Cheng Shang 720828 Dividend 20030725 0.05 0.04 51084026 2043361 Chem Fiber 720889 Dividend 20030725 0.03 0.024 66818544 1603645 Jin Ling 720621 Dividend 20030725 0.1 0.08 209955357 16796429 First Dept. 720631 Dividend 20030725 0.06 0.048 188313380 9039042 Shenergy 720642 Dividend 20030725 0.3 0.24 410992000 98638080 Wei Xing 720118 Dividend 20030728 0.05 0 72000000 0 Nan Gang Steell 720282 Dividend 20030728 0.2 0.16 144000000 23040000 Tian Fang 720322 Dividend 20030728 0.04 0.032 121000000 3872000 Yi Zheng Chem Fiber 720871 Dividend 20030728 0.015 0.012 200000000 2400000 Sheng Da 720626 Dividend 20030728 0.2 0.16 140481600 22477056 Ge Hua 720037 Dividend 20030729 0.15 0.12 104000000 12480000 Wai Yun (Occean Shipping) 720270 Dividend 20030729 0.25 0.16 92400000 14784000 Tong Xing 720345 Dividend 20030729 0.05 0.04 54000000 2160000 Long Dian Energy 720726 Dividend 20030729 0.1 0.08 189333524 15146682 Shang Shi (Shanghai Industrial ) 720607 Dividend 20030730 0.12 0.096 132932010 12761473 Bei Ren 720860 Dividend 20030731 0.1 0.08 72000000 5760000 Zheng Hua 720320 Dividend 20030731 0.2 0.16 88000000 14080000 You Yi 720827 Dividend 20030731 0.15 0.12 82820472 9938457 Sheng Tong 720834 Subway 20030731 0.1 0.08 80040000 6403200
71 Dividend Yang Guang 720261 Dividend 20030801 0.25 0.2 40000000 8000000 Hua Xia Bank 720744 Dividend 20030801 0.004 0.003 288288000 864864 Xi Xia 720533 Dividend 20030801 0.25 0.2 40000000 8000000 Zhong Xin 720329 Dividend 20030801 0.15 0.12 40000000 4800000 Hai Tai 720082 Dividend 20030804 0.027 0.022 79188202 1742140 Zhong Chao (Supermar ket) 720361 Dividend 20030804 0.2 0.16 50000000 8000000 Qin Feng 720248 Dividend 20030804 0.05 0.04 48000000 1920000 Topsun 720771 Dividend 20030805 0.068 0.055 49500012 2722501 Yao Pi Glass 720819 Dividend 20030805 0.2 0.16 31250052 5000008 Jin Feng 720606 Dividend 20030806 0.1 0.08 113581599 9086528 Long Tou 720630 Dividend 20030806 0.06 0.048 191099999 9172800 New World 720628 Dividend 20030806 0.12 0.096 139371397 13379654 Hai Xing 720851 Dividend 20030808 0.1 0.08 183678936 14694315 Hainan Airline 720221 Dividend 20030812 0.02 0.016 371957765 5951324 Chang Jian Electricity 720496 Dividend 20030812 0.05 0.04 40000000 1600000 Heng Rui Pharma 720276 Dividend 20030812 0.1 0.08 76800000 6144000 Shanghai Airport 720009 Dividend 20030814 0.199 0.159 522143800 83020864 Bei Da Huang 720598 Dividend 20030814 0.13 0.104 300000000 31200000 Pan Jiang 720395 Dividend 20030815 0.1 0.08 120000000 9600000 Cheng Guang 720501 Dividend 20030815 0.15 0.12 72000000 8640000 Tong Ji 720846 Dividend 20030815 0.1 0.08 134336869 10746950 COSCO 720641 Dividend 20030815 0.1 0.08 179066240 14325299
72 Wu Hua 720247 Dividend 20030820 0.06 0.008 47000000 376000 Kai Kai 720272 Dividend 20030820 0.08 0.064 60000000 3840000 San Xing 720764 Dividend 20030820 0.08 0.004 58985630 235943 Qiang Sheng 720662 Dividend 20030820 0.3 0.24 165371713 39689211 Chuang Shi 720233 Dividend 20030821 0.1 0.08 75000000 6000000 Gu Yue 720059 Dividend 20030822 0.2 0.16 106469998 17035200 Hang Tian (airnautics) 720151 Dividend 20030822 0.13 0.104 141440000 14709760 Gan Yue 720269 Dividend 20030822 0.2 0.16 156000000 24960000 Zhu Jiang 720684 Dividend 20030822 0.05 0.04 100035010 4001400 Nin Gao Ke 720064 Dividend 20030822 0.2 0.16 155487600 24878016 Yin Hua 720110 Dividend 20030822 0.03 0.024 137676350 3304232 Yun Tian Hua 720096 Dividend 20030825 0.4 0.32 100000000 32000000 Yuan Shui Water 720649 Dividend 20030825 0.08 0.064 560851462 35894494 Zhong Heng 720252 Dividend 20030826 0.05 0 49500000 0 Cheng Jian 720266 Dividend 20030826 0.15 0.12 150000000 18000000 Xia Men Airport 720897 Dividend 20030826 0.1 0.08 67500000 5400000 Shui Bao 720864 Dividend 20030826 0.07 0.056 45375000 2541000 Qinghwa 720100 Dividend 20030827 0.2 0.16 273030533 43684885 Yao Hua Glass 720716 Dividend 20030827 0.03 0.024 105300001 2527200 Fu Bang 720883 Dividend 20030827 0.02 0.016 63180000 1010880 Xia Gong 720815 Dividend 20030827 0.1 0.08 119700149 9576012 Xin Xin 720373 Dividend 20030828 0.022 0.017 45000000 765000 Ming Xing 720101 Dividend 20030829 0.25 0.2 95004050 19000810 Yu Bai 720729 Dividend 20030829 0.15 0.12 51000003 6120000
73 Cheng Fa 720391 Dividend 20030903 0.17 0.136 50000000 6800000 CITIC 720030 Dividend 20030905 0.003 0.003 400000000 1200000 Da Lian Sheng Ya 720593 Dividend 20030905 0.05 0.04 32000000 1280000 Jian Gong (Constructi on) 720170 Dividend 20030910 0.125 0.1 234000000 23400000 Shanghai Air 720591 Dividend 20030912 0.05 0.04 200000000 8000000 Wang Fu Jin 720859 Dividend 20030925 0.05 0.04 198378626 7935145 China Petrochem 721028 Dividend 20030930 0.03 0.024 2800000000 67200000 Jin Jiang 720754 Dividend 20030930 0.1 0.08 98360000 7868800 Mo Zhi Hua 720555 Dividend 20031009 0.15 0.12 81000000 9720000 Hai You 720583 Dividend 20031021 0.1 0.08 80000000 6400000 Zhong Hang 721428 Dividend 20031022 0.1 0.08 130000000 10400000 Nan Hua 721301 Dividend 20031024 0.1 0.08 72890345 5831228 Cheng Xing 720078 Dividend 20031027 0.2 0.16 86159736 13785558 Nin Pharma 720713 Dividend 20031027 0.1 0.08 83097399 6647792 Fu Tian Auto 720166 Dividend 20031027 0.11 0.008 104000000 832000 Gao Ke 720730 Dividend 20031029 0.05 0.04 54600001 2184000 Hua Xia 720015 Dividend 20031110 0.353 0.282 1000000000 282000000 Zhong Ti 720158 Dividend 20031113 0.02 0.016 76050000 1216800 Yin Feng Investment 821058 s Dividend 20031226 0.02 0.02 3000000000 60000000 Lu Kang Anti-biotic 720789 s Dividend 20031230 0.1 0.08 205097945 16407836
74 Equity Structure of Listed Companies by the end of 2003
Classification Value of Stock Percentage Market Cap Percentage in (100 million (%) (100 million Market Cap. Yuan) Yuan) (%) I. Stocks not fully tradable in the stock exchange 1.Promoter's share 2786.95 61.672 19910.29 66.802 State Owned Shares 2429.68 53.766 17202.75 57.718 Domestic Legal Person Shares 310.55 6.872 2263.34 7.594 Foreign Legal Person Shares 34.93 0.773 309.17 1.037 Others 11.79 0.261 135.03 0.453 2.Legal Person Shares 201.42 4.457 1505.63 5.052 3.Employee's Shares 7 0.155 56.75 0.19 Transferred and Others 13.06 0.289 101.03 0.339 Institutional Shares 4.86 0.108 30.09 0.101 Sub-Total 3013.29 66.681 21603.78 72.484 II. Stocks Fully Tradable in the Stock Exchange 1.Domestically Listed Shares Denominated in RMB 1062.25 23.506 7796.87 26.16 2.Domestically Listed Shares Denominated in foreign currency 94.85 2.099 404.27 1.356 3.Foreign Listed Shares Denominated in Foreign Currency 348.59 7.714 0 0 4.Others 0 0 0 0 Sub-total 1505.69 33.319 8201.14 27.516 III. Total 4518.98 100 29804.92 100 331.04 8.156 0.00 0.000 0.00 0.000 0.00 0.000 1323.57 32.609 7467.30 29.441 4058.89 100.000 25363.72 100.000
75 Top 50 Listed Companies by Market Capitalization By the end of 2003, the top 50 listed companies with the largest market capitalization have a market cap of 1,457.47 billion yuan, 49.18% higher than last year and accounts for 48.92% of the whole market capitalization at the Shanghai Stock Exchange Market. China Petrochemical which was listed at SSE in 2001 maintained its position as the largest company by market capitalization and Baosteel rose to be the second.
Rank Name of Stock Code Market Cap Percentage in total market (10 thousand yuan) cap. (%) 1 China Petrochemical 600028 34611365.75 11.61 2 Baosteel 600019 8845984 2.97 3 Huaneng International 600011 7897500 2.65 4 China Unicom 600050 7740762.38 2.6 5 Changjiang Electricity 600900 6819008 2.29 6 China Merchant Bank 600036 6169070.29 2.07 7 Ninghu Expressway 600377 4162980.52 1.4 8 Pudong Development Bank 600000 4122495 1.38 9 Shanghai Automobile 600104 3470039.04 1.16 10 Minsheng Bank 600016 3204311.82 1.08 11 Shanghai Petrochemical 600688 2853820 0.96 12 Huaxia Bank 600015 2674000 0.9 13 Shenneng Co. 600642 2594598 0.87 14 Shanghai Port Container 600018 2562248 0.86 15 Magang Steel 600808 2219513.9 0.74 16 Yanzhou Coal 600188 2012800 0.68 17 CITIC Securities 600030 1938051.5 0.65 18 Shanghai Airport 600009 1848066.51 0.62 19 Zhonghai Development 600026 1745800 0.59 20 Wugang Steel 600005 1728408.86 0.58 21 Shandong Infrastructure 600350 1681900 0.56 22 Shanghai Electricity 600021 1672950.35 0.56 23 Guo Dian Electricity 600795 1649096.26 0.55 24 Southern China Airlines 600029 1584000 0.53 25 Yuan Shui Water 600649 1499978.43 0.5 26 Si Chuan Changhong 600839 1463006.92 0.49 27 Guang Zhou Holding 600098 1404388.8 0.47 28 Qilu Petrochem 600002 1404000 0.47 29 Oritental Pearl 600832 1398624.77 0.47 30 Lu Jia Zhui 600663 1394752.27 0.47 31 Yi Zheng Chem Fiber 600871 1370200 0.46 32 China Eastern Airline 600115 1369500 0.46 33 Inner Mongolia Electricity 600863 1343267.18 0.45 34 Shou Chuang Co. 600008 1276000 0.43 35 Dong Feng Auto 600006 1239000 0.42
76 36 Xin Jiang Tun He 600737 1177793.38 0.4 37 Jiang Xi Copper 600362 1172878.72 0.39 38 Harbing Pharma 600664 1171306.7 0.39 39 Shenzhen Express 600548 1104997.2 0.37 40 Zhong Fang (China Real Estate) 600890 1001702.16 0.34 41 Shan Dong Alu. 600205 999040 0.34 42 Anyang Steel 600569 994317.3 0.33 43 Bei Da Huang 600598 981933.28 0.33 44 Hailuo Cement 600585 940094.64 0.32 45 Shuanghe Pharma 600062 910821.32 0.31 46 Baiyun Airport 600004 891000 0.3 47 Waiyun Development 600270 882981.87 0.3 48 Handan Steel 600001 862200.8 0.29 49 Guangdian Info. 600637 849325.73 0.28 50 Phoenix Co. 600679 835094.01 0.28
77 Top 50 Listed Companies by Market Capitalization of Tradable Shares By the end of 2003, the market cap of the tradable shares of the top 50 companies reached 269.448 billion yuan, which accounts for 32.83% of the total market cap of tradable shares of all listed companies. China Unicom took the place of China Merchant Bank to have the largest market cap in tradable shares this year and China Merchant Bank followed.
Rank Name of Stock Code Market Cap. Percentage of Total Market Cap. (of All (10 thousand Listed Companies Yuan) (%) 1 China Unicom 600050 1863213 2.27 2 China Merchant Bank 600036 1621500 1.98 3 China Petrochemical 600028 1386000 1.69 4 Baosteel 600019 1327039 1.62 5 Changjiang Power 600900 1110432.4 1.35 6 Shanghai Automobile 600104 1041011.71 1.27 7 Pudong Development Bank 600000 947700 1.16 8 Harbin Pharma Group 600664 764174.86 0.93 9 Huaxia Bank 600015 764000 0.93 10 Shanghai Airport 600009 680406.51 0.83 11 Minsheng Bank 600016 669337.3 0.82 12 Si Chuan Changhong 600839 643147.99 0.78 13 Shanghai Port Container 600018 596400 0.73 14 Shenergy 600642 594705.42 0.73 15 Xin Jiang Tun He 600737 593988.71 0.72 16 Shenhua Co. 600653 513726.88 0.63 17 South Airlines 600029 495000 0.6 18 Oriental Telecom (Dong Fang Telecom) BShare 900949 484933.52 0.59 19 Yuan Shui Co. 600649 446437.76 0.54 20 China Energy International 600011 438750 0.53 21 China Real Estate (zhong fang) 600890 423727.29 0.52 22 Shanghai Petrochemical 600688 421920 0.51 23 Fang Zheng Technology 600601 415351.33 0.51 24 Guo Dian Electricity 600795 413890.83 0.5 25 Qinghua Tongfang 600100 392890.94 0.48 26 Qing Tsao Haier 600690 385111.9 0.47 27 Shuang He Pharma 600062 383813.7 0.47 28 Fei Le Acoustics 600651 381324.45 0.46 29 Dong Feng Motor 600006 371700 0.45
78 30 Guangdian Electronics 600602 365020.82 0.45 31 Mei Yan Co. 600868 362311.05 0.44 32 Baiyun Airport 600004 356400 0.43 33 Shou Chuang Co. 600008 348000 0.42 34 Oriental Pearl 600832 318919.44 0.39 35 CITIC Securities 600030 312400 0.38 36 Oriental Group 600811 306289.77 0.37 37 Yi Li Co. 600887 304871.77 0.37 38 Ai Jian Co. 600643 303727.38 0.37 39 Zhonghai Development 600026 301000 0.37 40 Fu Yao Glass 600660 299098.03 0.36 41 Lu Jia Zui B Share 900932 297402.05 0.36 42 Tong Bao Energy 600780 293466.45 0.36 43 Shan Dong Aluminum 600205 285440 0.35 44 Han Dan Steel 600001 284200 0.35 45 Magang Steel 600808 282000 0.34 46 Zhang Jian Hi-Tech 600895 272258.08 0.33 47 Zhi Jian Enterprise 600210 272210.63 0.33 48 Tian Jing Port 600717 271609.41 0.33 49 Ai Shi Co. 600652 268373.96 0.33 50 Inner Mongolia Engergy 600863 268121.9 0.33
79 Companies Receiving Special Treatment in 2003 Date of Public Starting Date of Code New Name Old Name Annoucement ST Sanction 600873 ST Tibet Pearl Tibet Pearl 2003-2-20 2003-2-21 Lu Ying 600784 ST Lu Ying Investment 2003-2-28 2003-3-3 600807 STJi Bei Yi Nan Dept. Store 2003-3-6 2003-3-7 Guo Tou 600886 ST Hua Jing Electricity 2003-3-7 2003-3-10 600749 ST Tibet Sheng Di Tibet Sheng Di 2003-3-7 2003-3-10 Shan Dong Hei 600760 ST Hei Bao Bao 2003-3-13 2003-3-14 600385 ST Jin Tai Shan Dong Jin Tai 2003-4-8 2003-4-9 Ding Tian 600139 ST Ding Tian Technology 2003-4-10 2003-4-11 600234 ST Tian Long Tian Long Group 2003-4-16 2003-4-17 Zhong Nong 600313 ST Zhong Nong Resources 2003-4-22 2003-4-23 600190 ST Jing Zhou Port Jing Zhou Port 2003-4-22 2003-4-23 ST Jing Zhou Jing Zhou Port B 900952 Port B Share 2003-4-22 2003-4-23 600738 ST Ming Bai Lan Zhou Min Bai 2003-4-24 2003-4-25 600182 ST Hua Ling Hua Ling Rubber 2003-4-25 2003-4-26 Yan Tai 600766 ST Yan Fa Development 2003-4-28 2003-4-29 Xiang Long 600769 ST Xiang Long Electrical 2003-4-28 2003-4-29 600695 ST Da Jiang Da Jiang Co. 2003-4-28 2003-4-29 900919 ST Da Jiang B Da Jiang B 股 2003-4-28 2003-4-29 Jin Di 600758 STJin Di Construction 2003-4-28 2003-4-29 600793 ST Yi Bing Paper Yi Bing Paper 2003-4-28 2003-4-29 ST Beijing Univ. 600878 Tech Beijing Univ. Tech 2003-4-29 2003-4-30 600053 ST Jiang Xi Paper Jiang Xi Paper 2003-4-29 2003-4-30 Min Feng 600781 ST Min Feng Industrial 2003-4-29 2003-4-30 600672 ST Ying Jiao Ying Hao Ke Jiao 2003-4-29 2003-4-30 Lian Hua 600617 ST Lian Hua Synthetic Fiber 2003-4-30 2003-5-12 ST Lian Hua B 900913 Share Lian Hua B Share 2003-4-30 2003-5-12 600847 ST Yu Wan Li Wan Li Battery 2003-5-16 2003-5-19 Tian Jing Occean 600751 ST Tian Hai Shipping 2003-6-27 2003-6-30 ST Tian Hai B 900938 Share Tian Hai B Share 2003-6-27 2003-6-30 600338 ST Zhu Feng Zhu Feng Motor 2003-8-28 2003-8-29 600899 ST Xin Lian Xin Lian Co. 2003-9-18 2003-9-19 600090 ST Pi Jiu Hua Pi Jiu Hua 2003-11-24 2003-11-25
80 Companies Suspended Listing in 2003 Date of Public Date of Suspended Code Name of Stock Announcement for Listing Suspension ST Qing Qi (light 600698 motor) 2003-5-16 2003-5-19 900946 ST Qing Qi B Share 2003-5-16 2003-5-19 600842 ST Zhong Xi 2003-5-16 2003-5-19 600858 ST Bo Hai 2003-5-16 2003-5-19 600646 ST Guo Jia 2003-5-16 2003-5-19
Companies Delisted in 2003 Date of Public Code Name of Stock Announcement of Date of Delisting Delisting 600709 ST Sheng Tai 2003-5-24 2003-5-23 600646 ST Juo Jia 2003-9-22 2003-9-22
Companies Relisted in 2003 Date of Public Code Name of Stock Announcement for Date of Relisting Relisting 600858 *ST Bo Hai 2003-8-30 2003-9-8 600898 Zheng Bai Wen 2003-7-11 2003-7-18 600842 *ST Zhong Xi 2003-11-28 2003-12-5
Cancellation of Special Treatment in 2003 Name of Stock after Code Name of ST Stock Date of Cancellation of ST Cancellation 600167 ST Shen Xin Kai ShenYang Xin Kai 2003-2-12 600792 ST Ma Long Yun Nan Ma Long 2003-3-21 ST Nin Bo Fu 600768 Bang Nin Bo Fu Bang 2003-3-28 ST China Textile 600610 Machinery China Textile Machinery 2003-4-1 ST China textile B 900906 Share China Textile B Share 2003-4-1 600622 ST Jia Bao Jia Bao Group 2003-4-7 600109 ST Cheng Bai Cheng Du Construction 2003-4-7 ST Xin Cheng B 900950 Share Xin Cheng B Share 2003-4-9 600057 ST Smoisocnics Amoisonics Electronics 2003-4-21 600745 ST Kang Sai Tian Hua Co. 2003-4-30 600853 ST Long Jian Long Jian Co. 2003-5-26 600082 ST Hai Tai Hai Tai Development 2003-8-25
Change of Company Names in 2003 Code New Name of Stock Old Name of Stock Date of Change
81 600844 Da Ying Co. Hero Co. 2003-2-24 900921 Da Ying B Share Hero B Share 2003-2-24 600175 Mei Du Holdings Bao Hua Industrial 2003-2-26 900935 Jin Tai B Share Yang Cheng B Share 2002-2-28 Shanghai Industrial 600748 Development Pu Dong Stainless Steel 2003-3-3 600138 China youth Travel Youth Travel Holdings 2003-3-19 600148 Chang Chun Yi Dong Li He Qi 2003-3-28 Airospace 600677 Telecommunications Hang Tian Zhong Hui 2003-4-18 600708 Hai Bo Co. Dong Hai Co. 2003-4-18 600792 Ma Long Industrial Yun Nan Ma Long 2003-5-15 600083 ST Bo Xun ST Hong Guang 2003-5-15 600840 Xin Hu Chuang Ye Zhe Jiang Chuang Ye 2003-5-16 Da Zhong Public 600635 Utilities Da Zhhong Ke Chuang 2003-5-28 600614 San Jiu Development Jiao Dai Co. 2003-6-18 900907 Fa Zhan B Share Jiao Dai B Share 2003-6-18 600691 Ling Feng Holdings Dong Xin DianTai 2003-7-8 Chang Chun Chang 600890 China Real Estate Ling 2003-7-8 600681 Ao Yuan Development Cheng Cheng Culture 2003-7-10 600067 Guan Cheng Da Tong Fu Zhou Da Tong 2003-7-25 600057 Amoisonics Electronics Amoisonics Electronics 2003-8-5 Shang Ling Electrical 600835 Shanghai Electric Appliances 2003-8-18 Shanghai Electric B 900925 Share Shang Ling B Share 2003-8-18 600898 San Lian Trade Zheng Bai Wen 2003-8-27 600252 Zhong Heng Group Wu Zhou Zhong Heng 2003-9-9 600754 Jin Jiang Hotels Xin Ya Co. 2003-9-10 900934 Jin Jiang B Share Xin Ya B Share 2003-9-10 600058 Minmetals Long Teng Technology 2003-9-26 600074 Zhong Da Co. Nan Jing Zhong Da 2003-10-10 600673 Yang Zhi Guang Cheng Lian Co. 2003-10-10 Hu Chang Specialty 600665 Tian Di Yuan Steel 2003-11-4 600869 San Pu Pharma Qing Hai San Pu 2003-11-12 600681 Wan Hong Group Ao Yuan Development 2003-12-12 600380 Jian Kang Yua Tai Tai Pharma 2003-12-18
82 Bond Market Overview
The year 2003 saw rapid growth of Shanghai Stock Exchange Bond Market, whether in the aspects of variety of listed bonds, trading scale or market regulation and innovation.
In 2003, the Ministry of Finance maintained the bond issue on the stock exchange, launching five issues of new government bonds and an additional issue of 03/1st government bond over the year. The bonds issued on the stock exchange totaled RMB100.7 billion, 97.3 billion or 97% of which were trusted to Shanghai Stock Exchange. Last year, corporate bond market was also one of the spectacular hot spots, with 9 additional corporate bonds and 10 convertible bonds listed in Shanghai Stock Exchange. As of December 31, Shanghai Stock Exchange had 21 listed government bonds with trust amount of RMB 350.7 billion, 19 corporate bonds with trust amount of RMB 28 billion and 13 convertible bonds with trust amount of RMB 12.3 billion. The total trust amount came close to RMB 400 billion.
Shanghai Stock Exchange also set record high continuously in bond transaction. From January to December 2003, Shanghai Stock Exchange realized government bond spot transaction of RMB 549.786 billion and government bond repurchase of RMB 5298.154 billion, totaling RMB5847.940 billion with an increase of 90% over the same period in previous year. The corporate bond spot market also enjoy higher liquidity, with spot transaction increased by 3.19 times over the same period in previous year to RMB 31.604 billion, repurchase transaction of RMB 235.314 billion and convertible bond transaction increased by 19.51 times over the same period in previous year to RMB 44.531 billion. The corporate bond repurchase has gradually become an important tool of market participant to get short-term financing.
Shanghai Stock Exchange has always attached great importance to normal development of bond market. One of its major tasks in 2003 is to draft detailed rules of bond transaction, which has now been adopted by the council. At the same time, Shanghai Stock Exchange made greater effort at market innovation and launched a series of new measures to develop the bond market in 2003. For example, it made public SSE government bond index and corporate bond index at due time to provide the bond market a scientific and authoritative judge system; it offered bulk transaction service and simplified bond transaction mechanism to satisfy the large transaction demand of institutional investors; it presented a new service of two-day government bond repurchase in the first half of 2003 to improve the term structure of bond repurchase. What’s more, Shanghai Stock Exchange is actively making researches and preparations for such new services as open-end government bond repurchase and forward transaction. It will continue to present new transactions to fit the demand of investors.
83
Conditions for Listing of Government Bonds Government bonds are exempt from verification and approval procedures for listing on the SSE. Central Government Bond Registration and Clearing Co.,Ltd. provides a unified custodian system for the government bond market at the SSE.
Conditions for Listing of Corporate Bonds 1. The approval and public notification of departments authorized by the State Council; 2. The net assets value of incorporated companies must be no less than RMB 30 million and the net assets value of limited liability companies must be no less than RMB 60 million; 3. The accumulated total value of issued bonds must not exceed 40% of the company's value of net assets; 4. The average distributable profit over the last three years must be sufficient to one year's interest of the bonds; 5. The direction of fund raising must conform to the Nation's industrial policy and the approval uses of the issue examination and approval organs; 6. The term of the bonds must be more than 1 year; 7. The interest rate of the bonds must not exceed the interest rate level restrictions of the State Council; 8. The amount of corporate bonds actually issued must not be less than RMB 50 million; 9. The credit rating for the bonds must not be less than A; 10. The bonds must have a bond sponsor whose conditions for sponsorship must conform to the laws, regulations and provisions. For bonds with a credit rating of AAA and the management authority agrees to exempt sponsored bonds; 11. The company apply for the issue of its bonds must still meet the stipulated bond issue conditions at the time of listing; 12. Other conditions recognized by this Exchange.
Conditions for Issuing Convertible Corporate Bonds by Listed Companies
According to the Company Law of the People’s Republic of China, the Interim Provisions on Convertible Corporate Bond Management, and the Implementing Measures for Listed Company to Issue Convertible Corporate Bond, a listed company shall meet the following conditions for issue of convertible corporate bonds:
1. It has profitable operations for the previous 3 consecutive years with weighted average return
84 on net assets over 10% on average for previous 3 accounting periods, subject to verification by certified public accountants; the return on net assets may be lower but shall not be lower than 7% if the company falls in the category of energy, raw material and infrastructure; the average return on net assets of previous 3 accounting periods shall not be lower than 6% in principle after deducting non-recurrent profits and losses; the company should have good cash flow if the return on net assets is lower than 6%; the return on net assets is calculated on the basis of audited annual gains of the accounting periods before reorganization if the company was reorganized significantly during the previous 3 years; the average return on net assets for previous 3 accounting periods or average return on net assets for accounting periods after setup of the stock company (whichever is lower) is referred to if the company has been listed for less than 3 years. 2. Issue of convertible corporate bonds shall not be less than RMB 100 million. 3. The liabilities/assets ratio shall not be higher than 70% after issue of convertible corporate bonds. 4. The accumulated balance of bonds shall not be more than 40% of the company’s net asset value before issue of convertible corporate bonds and not more than 80% after issue of convertible corporate bonds. The company’s net asset value is based on the data in the annual report audited one year before the issue. 5. The raised funds shall be invested in line with the national industrial policy. 6. The interest rate of convertible corporate bonds shall not be more than that of bank savings of corresponding period. 7. The issue shall not be approved if the company seriously violated laws or broke rules in the previous 3 years. 8. The issue shall not be approved if the company changes the purpose of raised fund without authorization and fails to make correction as required. 9. The issue shall not be approved if the disclosure is found with false records, misleading statements or major omissions. 10. The issue shall not be approved if serious consequence is caused by non-standard operation. 11. The issue shall not be approved if the company has poor growth and serious hidden risk. 12. Other conditions stipulated by CSRC.
Listing Cost of Convertible Corporate Bond The listing cost of convertible corporate bond is paid initially at 0.1‰ of total value of convertible corporate bonds, from minimum RMB 10,000 to maximum RMB 30,000. Later, RMB 500 is paid every month.
85 Overview of T-bond issuance in 2002 Name in Issuing Value Interest Date Listing Date Maturity Term Nominal Abbrev. Method (100 (Year） Interest million Rate Yuan) （%） 96 T-bond(6) Book Entry 255.3 1996-6-14 1996-7-12 2006-6-14 10 11.83 96 T-bond(8) Book Entry 201.1 1996-11-1 1996-11-21 2003-11-1 7 8.56 97 T-bond(4) Book Entry 130 1997-9-5 1997-9-25 2007-9-5 10 9.78 99 T-bond(5) Book Entry 160 1999-8-20 1999-9-6 2007-8-20 8 3.28 99 T-bond(8) Book Entry 200 1999-9-23 1999-10-13 2009-9-23 10 3.3 20 T-bond(4) Book Entry 140 2000-5-23 2000-6-2 2010-5-23 10 2.6 20 T-bond(10) Book Entry 120 2000-11-14 2000-11-27 2007-11-14 7 2.36 21 T-bond(3) Book Entry 120 2001-4-24 2001-5-10 2008-4-24 7 3.27 21 T-bond(7) Book Entry 239.6 2001-7-31 2001-8-20 2021-7-31 20 4.26 21 T-bond(10) Book Entry 200 2001-9-25 2001-10-11 2011-9-25 10 2.95 21 T-bond(12) Book Entry 200 2001-10-30 2001-11-13 2011-10-30 10 3.05 21 T-bond(15) Book Entry 200 2001-12-18 2002-1-4 2008-12-18 7 3 02 T-bond(3) Book Entry 200 2002-4-18 2002-4-29 2012-4-18 10 2.54 02 T-bond(10) Book Entry 200 2002-8-16 2002-9-2 2009-8-16 7 2.39 02 T-bond(13) Book Entry 240 2002-9-20 2002-10-9 2017-9-20 15 2.6 02 T-bond(14) Book Entry 224 2002-10-24 2002-11-1 2007-10-24 5 2.65 02 T-bond(15) Book Entry 179.54 2002-12-6 2002-12-16 2009-12-6 7 2.93 03 T-bond(1) Book Entry 324.27 2003-2-19 2003-2-26 2010-2-19 7 2.66 03 T-bond(3) Book Entry 260 2003-4-17 2003-4-25 2023-4-17 20 3.4 03 T-bond(7) Book Entry 460 2003-8-20 2003-9-1 2010-8-20 7 2.66 03 T-bond(8) Book Entry 163.8 2003-9-17 2003-9-25 2013-9-17 10 3.02 03 T-bond(11) Book Entry 360 2003-12-2 2010-11-19 7 3.5
Overview of Corporate Bond Issuance in 2002
Name in Circulati Maturity Opening Closing High Low Trading Abbrev. on(100 (Yuan) (Yuan) (Yuan) (Yuan) Value million (10 thousand Yuan) Yuan) 99 Bao Steel Bond 20 20050810 103.25 102.86 112.61 100 42867.3 01 China Mobile Bond 50 20110617 102.35 104.1 110.8 102 70206.75 01 Three Gorges Bond 30 20161108 108.6 103.55 116 103.1 214292.86 02 Three Gorges Bond 39.69 20220920 103.52 97.55 112.28 95.64 1073827.93
86 02 China Mobile ⑸ 12.46 20071028 102.77 99.73 107.34 97.9 81081.08 02 China Mobile⒂ 33.17 20171028 103 97.15 108.65 93.5 776056.95 02 Su Transportati on 9.13 20171212 104.8 95.53 108.1 95.01 206317.85 02 He nan Urban Investment 15 20121209 107.02 97.42 107.5 97 89731.38 02 Wu Han Steel⑶ 5 20051104 103.58 106.57 134.08 88.88 14598.81 02 Wu Han Steel⑺ 15 20091104 103.8 101.7 103.9 98.01 39834.78 02 Jin Mao Bond 2.65 20120428 106.15 99.42 106.7 93 48125.83 03 Shanghai Railway 40 20180219 106.8 99.77 106.8 98.8 131335.31 03 Suzhou industrial park 10 20130717 101 98 101.2 97.25 28137.14 98 Three Gorges⑻ 10 20070117 115.8 112.65 116.08 110 37750.85 98 China Railway⑴ 16 20031224 130.9 134.51 135.25 125.08 62612.84 98 China Railway⑵ 10 20041012 112.55 116.18 125.31 106.7 17822.33 98 China Railway⑶ 24 20091012 107.35 101.99 111.3 100 38394.16 99 Three Gorges 30 20100725 102.45 104.1 108.8 102 117297.55 98CITIC⑺ 7 20060615 109.53 107.21 112.95 105.56 19469.91 98 Oil Bond 13.5 20070908 105.55 103.65 109.69 101.03 46950.96
Overview of Convertible Bond Issuance in 2002 Name in Circulati Maturity Opening Closing High Low Trading Value Abbrev. on(100 (Yuan) (Yuan) (Yuan) (Yuan) (10 thousand million Yuan) Yuan) Airport Convertible 13.5 20050224 102.98 129.69 131 102.81 136043.61 MinSheng Bank Convertible 40 20080227 99.87 122.5 138.18 99.68 2779071.93 Shipping Convertible 3.2 20070812 94.93 130.36 143 94 138406.97 Yun Hua Convertible 4.1 20060909 100.5 109.99 112.88 99.2 44706.96 Xi Gang Steel Convertible 4.9 20080810 104 102.51 106.9 98.05 97717 Yongor Convertible 11.9 20060403 108.11 107.37 120 102.5 266329.32 Fu Xing 9.5 20081027 99.9 101.5 102.99 98.05 76562.83
87 Convertible Yang Guang Convertible 8.3 20050418 97.57 100.7 113.5 96 177863.81 Gui Guan Convertible 8 20080629 104 105.16 107.3 100.5 126522.48 Shan Ying Convertible 2.5 20080615 101.54 107 109 101.52 48188.1 Long Dian Convertible 8 20080602 106 115 116.49 103.99 127548.69 Guo Dian Convertible 20 20080717 108.5 116.7 122 95.05 262652.96 Han Dan Steel Convertible 20 20081125 104 105.72 109.1 102.8 171506.28
2002 Monthly T-bond Trading Value Month Trading Value Trading Volume (10 thousand yuan) （10 thousand batch） Jan. 37435799.75 37351.05 Feb. 32049183.71 31970.88 Mar. 49089578.01 48959.29 Apr. 50400185.02 50273.01 May 38781680.21 38685.01 June 52635254.33 52552.47 July 50613902.7 50554.88 Aug. 48110554.54 48058.5 Sept. 57732911.61 57767.42 Oct. 53355251.45 53498.89 Nov. 50240737.07 50370.61 Dec. 64373907.84 64611.64
Monthly Trading Value of T-bond repurchase Month Trading Value Trading Volume （10 thousand yuan） （10 thousand） Jan. 33705950 33705.95 Feb. 28440030 28440.03 Mar. 43813720 43813.72 Apr. 44352220 44352.22 May 34516780 34516.78
88 June 47412580 47412.58 July 46749060 46749.06 Aug. 44664000 44664 Sept. 53748170 53748.17 Oct. 49920640 49920.64 Nov. 46551560 46551.56 Dec. 55940670 55940.67
Monthly Spot T-bond Trading Value Month Trading Value Trading Volume （10 thousand Yuan） （10 thousand batch） Jan. 3729849.75 3645.1 Feb. 3609153.71 3530.85 Mar. 5275858.01 5145.57 Apr. 6047965.02 5920.79 May 4264900.21 4168.23 June 5222674.33 5139.89 July 3864842.7 3805.82 Aug. 3446554.54 3394.5 Sept. 3984741.61 4019.25 Oct. 3434611.45 3578.25 Nov. 3689177.07 3819.05 Dec. 8433237.84 8670.97
89 Funds
Overview Market Expansion: 12 fund management companies were approved by the CSRC to start operation, with a further 16 in the process of preparing for setting-up. The market saw major upsurges in new funds launching in 2003. By the year end, a total of 24 open-end funds were offered to the market with a 67.8 billion RMB initial subscription. There was no closed-end funds offering. As of the end of 2003, China has 33 fund management companies operating 95 funds, with an assets under management reaching 163 billion RMB, divided roughtly 50/50 between 54 close-end funds and open-end funds
Performance: The fund management industry in 2003 achieved an average return of 20%, recovering from the previous year’s industry wide loss of billion RMB. The close-end funds performed relatively better than the open-end funds. The good news is the fund management industry outperformed the market average by almost 100%, started to lead the market as a mainstream investor and by its investment philosophy of value investing philosophy. 2003 saw the best performance in fund management in the past 6 years.
Close-end funds: While NAV rose, close-end funds saw their secondary market price discounted by a big margin. By the end of 2003, average discount level of all close-end funds reached 25%.
Open-end funds: Paralle to the large discount rate suffered by close-end funds, open-end funds encountered large redemptions inspite of NAV increase. The 14 open-end funds with similar asset size saw their AUM shed by 40% from 44 billion RMB at the end of 2002 to 26.6 billion RMB by the end of 2003.
Innovations: More fund products including serial funds, quasi-principal protected funds and quasi-Money Market Funds were offered in 2003. Legislation: The Securities Investment Act of the PRC went into force in October, 2003, the law is an important pave stone for the fund management industry in the coming years.
90 Overview of Securities Funds in 2003
Code Name of Volume High Low Open Close Change Trading Value of Funds Issued in Price Volume Trading (10 (Yuan) (Yuan) (Yuan) (Yuan) (％) (10 (10 thousand thousand thousand Yuan) Units) Units) 500001 Jintai 200000 0.826 0.675 0.78 0.799 1.14 145116.61 108352.21 500002 Taihe 200000 0.875 0.698 0.77 0.84 7.69 157910.46 124452.72 500003 Anxin 200000 0.95 0.78 0.86 0.861 0.12 108971.23 94146.26 500005 Hansheng 200000 0.82 0.663 0.71 0.787 7.81 230369.82 171161.6 500006 Yuyang 200000 0.967 0.72 0.78 0.86 8.86 189864.06 161728.73 500007 Jingyang 100000 0.885 0.74 0.77 0.84 9.09 381576.56 315239.89 500008 Xinghua 200000 1.112 0.82 0.87 1.097 26.09 277234.43 279959.13 500009 Anshun 300000 0.929 0.754 0.82 0.849 2.29 190109.87 159726.37 500010 Jinyuan 50000 0.827 0.665 0.72 0.758 3.84 57623.93 42780.27 500011 Jinxin 300000 0.843 0.706 0.77 0.804 4.42 171307.31 133666.25 500013 Anrui 50000 0.925 0.68 0.83 0.748 -12 70139.83 56783.38 500015 Hanxing 300000 0.748 0.606 0.68 0.702 1.74 192960.48 131236.75 500016 Yuyuan 150000 0.965 0.8 0.84 0.959 12.82 212177.97 187468.53 500017 Jingye 50000 0.79 0.6 0.7 0.687 -1.86 104692.27 74118.24 500018 Xinghe 300000 0.96 0.74 0.78 0.909 15.06 259496.8 225914.27 500019 Purun 50000 0.859 0.661 0.76 0.748 -1.58 71384.75 54336.59 500021 Jinding 50000 0.82 0.679 0.72 0.77 5.48 62417.28 46663.6 500025 Handing 50000 0.85 0.606 0.72 0.695 -3.47 119700.41 90014.74 500028 Xingye 50000 0.82 0.641 0.74 0.743 -0.93 58594.46 43702.39 500029 Kexun 80000 0.943 0.72 0.78 0.94 18.99 109716.98 90978.54 500035 Hanbo 50000 0.84 0.633 0.73 0.729 -1.49 67725.67 49072.07 500038 Tongqian 200000 0.844 0.704 0.75 0.798 6.4 208398.45 160428.47 500039 Tongde 50000 0.91 0.719 0.79 0.811 1.38 107689.98 88471.81 500056 Kerui 300000 0.905 0.73 0.77 0.89 14.1 345361.39 283407.28 500058 Yinfeng 300000 0.935 0.805 0.84 0.913 8.69 515656.95 447819.93
Weekly and Monthly NAV Disclosure by Securities Investment Funds
Code Name of Date of Report Date of NAV per unit Funds Announcement （Yuan） 500001 Jintai 2003-1-3 2003-1-4 0.832 500002 Taihe 2003-1-3 2003-1-4 0.858 500003 Anxin 2003-1-3 2003-1-4 0.891 500005 Hansheng 2003-1-3 2003-1-4 0.812 500006 Yuyang 2003-1-3 2003-1-4 0.86 500007 Jingyang 2003-1-3 2003-1-4 0.899 500008 Xinghua 2003-1-3 2003-1-4 0.973 500009 Anshun 2003-1-3 2003-1-4 0.934
91 500010 Jinyuan 2003-1-3 2003-1-4 0.74 500011 Jinxin 2003-1-3 2003-1-4 0.879 500013 Anrui 2003-1-3 2003-1-4 0.902 500015 Hanxing 2003-1-3 2003-1-4 0.752 500016 Yuyuan 2003-1-3 2003-1-4 0.897 500017 Jingye 2003-1-3 2003-1-4 0.715 500018 Xinghe 2003-1-3 2003-1-4 0.909 500019 Purun 2003-1-3 2003-1-4 0.831 500021 Jinding 2003-1-3 2003-1-4 0.752 500025 Handing 2003-1-3 2003-1-4 0.713 500028 Xingye 2003-1-3 2003-1-4 0.767 500029 Kexun 2003-1-3 2003-1-4 0.858 500035 Hanbo 2003-1-3 2003-1-4 0.782 500038 Tongqian 2003-1-3 2003-1-4 0.84 500039 Tongde 2003-1-3 2003-1-4 0.856 500056 Kerui 2003-1-3 2003-1-4 0.9 500058 Yinfeng 2003-1-3 2003-1-4 0.944 500001 Jintai 2003-1-10 2003-1-11 0.865 500002 Taihe 2003-1-10 2003-1-11 0.888 500003 Anxin 2003-1-10 2003-1-11 0.922 500005 Hansheng 2003-1-10 2003-1-11 0.838 500006 Yuyang 2003-1-10 2003-1-11 0.899 500007 Jingyang 2003-1-10 2003-1-11 0.938 500008 Xinghua 2003-1-10 2003-1-11 1.009 500009 Anshun 2003-1-10 2003-1-11 0.962 500010 Jinyuan 2003-1-10 2003-1-11 0.767 500011 Jinxin 2003-1-10 2003-1-11 0.909 500013 Anrui 2003-1-10 2003-1-11 0.929 500015 Hanxing 2003-1-10 2003-1-11 0.776 500016 Yuyuan 2003-1-10 2003-1-11 0.933 500017 Jingye 2003-1-10 2003-1-11 0.727 500018 Xinghe 2003-1-10 2003-1-11 0.948 500019 Purun 2003-1-10 2003-1-11 0.856 500021 Jinding 2003-1-10 2003-1-11 0.782 500025 Handing 2003-1-10 2003-1-11 0.744 500028 Xingye 2003-1-10 2003-1-11 0.791 500029 Kexun 2003-1-10 2003-1-11 0.886 500035 Hanbo 2003-1-10 2003-1-11 0.803 500038 Tongqian 2003-1-10 2003-1-11 0.865 500039 Tongde 2003-1-10 2003-1-11 0.886 500056 Kerui 2003-1-10 2003-1-11 0.923 500058 Yinfeng 2003-1-10 2003-1-11 0.968 500001 Jintai 2003-1-17 2003-1-18 0.9 500002 Taihe 2003-1-17 2003-1-18 0.924 500003 Anxin 2003-1-17 2003-1-18 0.956 500005 Hansheng 2003-1-17 2003-1-18 0.87 500006 Yuyang 2003-1-17 2003-1-18 0.942
92 500007 Jingyang 2003-1-17 2003-1-18 0.971 500008 Xinghua 2003-1-17 2003-1-18 1.053 500009 Anshun 2003-1-17 2003-1-18 0.996 500010 Jinyuan 2003-1-17 2003-1-18 0.797 500011 Jinxin 2003-1-17 2003-1-18 0.94 500013 Anrui 2003-1-17 2003-1-18 0.962 500015 Hanxing 2003-1-17 2003-1-18 0.799 500016 Yuyuan 2003-1-17 2003-1-18 0.971 500017 Jingye 2003-1-17 2003-1-18 0.743 500018 Xinghe 2003-1-17 2003-1-18 0.991 500019 Purun 2003-1-17 2003-1-18 0.89 500021 Jinding 2003-1-17 2003-1-18 0.818 500025 Handing 2003-1-17 2003-1-18 0.783 500028 Xingye 2003-1-17 2003-1-18 0.811 500029 Kexun 2003-1-17 2003-1-18 0.922 500035 Hanbo 2003-1-17 2003-1-18 0.824 500038 Tongqian 2003-1-17 2003-1-18 0.894 500039 Tongde 2003-1-17 2003-1-18 0.919 500056 Kerui 2003-1-17 2003-1-18 0.949 500058 Yinfeng 2003-1-17 2003-1-18 0.996 500001 Jintai 2003-1-24 2003-1-25 0.889 500002 Taihe 2003-1-24 2003-1-25 0.915 500003 Anxin 2003-1-24 2003-1-25 0.95 500005 Hansheng 2003-1-24 2003-1-25 0.865 500006 Yuyang 2003-1-24 2003-1-25 0.937 500007 Jingyang 2003-1-24 2003-1-25 0.958 500008 Xinghua 2003-1-24 2003-1-25 1.053 500009 Anshun 2003-1-24 2003-1-25 0.991 500010 Jinyuan 2003-1-24 2003-1-25 0.787 500011 Jinxin 2003-1-24 2003-1-25 0.934 500013 Anrui 2003-1-24 2003-1-25 0.952 500015 Hanxing 2003-1-24 2003-1-25 0.794 500016 Yuyuan 2003-1-24 2003-1-25 0.961 500017 Jingye 2003-1-24 2003-1-25 0.733 500018 Xinghe 2003-1-24 2003-1-25 0.987 500019 Purun 2003-1-24 2003-1-25 0.878 500021 Jinding 2003-1-24 2003-1-25 0.806 500025 Handing 2003-1-24 2003-1-25 0.776 500028 Xingye 2003-1-24 2003-1-25 0.809 500029 Kexun 2003-1-24 2003-1-25 0.913 500035 Hanbo 2003-1-24 2003-1-25 0.821 500038 Tongqian 2003-1-24 2003-1-25 0.89 500039 Tongde 2003-1-24 2003-1-25 0.908 500056 Kerui 2003-1-24 2003-1-25 0.943 500058 Yinfeng 2003-1-24 2003-1-25 0.99 500001 Jintai 2003-1-29 2003-2-10 0.905 500002 Taihe 2003-1-29 2003-2-10 0.932
93 500003 Anxin 2003-1-29 2003-2-10 0.966 500005 Hansheng 2003-1-29 2003-2-10 0.88 500006 Yuyang 2003-1-29 2003-2-10 0.96 500007 Jingyang 2003-1-29 2003-2-10 0.976 500008 Xinghua 2003-1-29 2003-2-10 1.068 500009 Anshun 2003-1-29 2003-2-10 1.007 500010 Jinyuan 2003-1-29 2003-2-10 0.801 500011 Jinxin 2003-1-29 2003-2-10 0.95 500013 Anrui 2003-1-29 2003-2-10 0.967 500015 Hanxing 2003-1-29 2003-2-10 0.807 500016 Yuyuan 2003-1-29 2003-2-10 0.981 500017 Jingye 2003-1-29 2003-2-10 0.749 500018 Xinghe 2003-1-29 2003-2-10 1.005 500019 Purun 2003-1-29 2003-2-10 0.894 500021 Jinding 2003-1-29 2003-2-10 0.821 500025 Handing 2003-1-29 2003-2-10 0.792 500028 Xingye 2003-1-29 2003-2-10 0.821 500029 Kexun 2003-1-29 2003-2-10 0.931 500035 Hanbo 2003-1-29 2003-2-10 0.827 500038 Tongqian 2003-1-29 2003-2-10 0.907 500039 Tongde 2003-1-29 2003-2-10 0.925 500056 Kerui 2003-1-29 2003-2-10 0.961 500058 Yinfeng 2003-1-29 2003-2-10 1.004 500001 Jintai 2003-2-15 2003-2-16 0.906 500002 Taihe 2003-2-15 2003-2-16 0.932 500003 Anxin 2003-2-15 2003-2-16 0.966 500005 Hansheng 2003-2-15 2003-2-16 0.882 500006 Yuyang 2003-2-15 2003-2-16 0.957 500007 Jingyang 2003-2-15 2003-2-16 0.974 500008 Xinghua 2003-2-15 2003-2-16 1.063 500009 Anshun 2003-2-15 2003-2-16 1.006 500010 Jinyuan 2003-2-15 2003-2-16 0.801 500011 Jinxin 2003-2-15 2003-2-16 0.954 500013 Anrui 2003-2-15 2003-2-16 0.97 500015 Hanxing 2003-2-15 2003-2-16 0.809 500016 Yuyuan 2003-2-15 2003-2-16 0.98 500017 Jingye 2003-2-15 2003-2-16 0.744 500018 Xinghe 2003-2-15 2003-2-16 1.005 500019 Purun 2003-2-15 2003-2-16 0.896 500021 Jinding 2003-2-15 2003-2-16 0.82 500025 Handing 2003-2-15 2003-2-16 0.788 500028 Xingye 2003-2-15 2003-2-16 0.824 500029 Kexun 2003-2-15 2003-2-16 0.925 500035 Hanbo 2003-2-15 2003-2-16 0.828 500038 Tongqian 2003-2-15 2003-2-16 0.905 500039 Tongde 2003-2-15 2003-2-16 0.93 500056 Kerui 2003-2-15 2003-2-16 0.962
94 500058 Yinfeng 2003-2-15 2003-2-16 1.004 500001 Jintai 2003-2-21 2003-2-22 0.897 500002 Taihe 2003-2-21 2003-2-22 0.923 500003 Anxin 2003-2-21 2003-2-22 0.957 500005 Hansheng 2003-2-21 2003-2-22 0.874 500006 Yuyang 2003-2-21 2003-2-22 0.947 500007 Jingyang 2003-2-21 2003-2-22 0.965 500008 Xinghua 2003-2-21 2003-2-22 1.058 500009 Anshun 2003-2-21 2003-2-22 1.001 500010 Jinyuan 2003-2-21 2003-2-22 0.794 500011 Jinxin 2003-2-21 2003-2-22 0.944 500013 Anrui 2003-2-21 2003-2-22 0.964 500015 Hanxing 2003-2-21 2003-2-22 0.801 500016 Yuyuan 2003-2-21 2003-2-22 0.972 500017 Jingye 2003-2-21 2003-2-22 0.738 500018 Xinghe 2003-2-21 2003-2-22 0.997 500019 Purun 2003-2-21 2003-2-22 0.889 500021 Jinding 2003-2-21 2003-2-22 0.814 500025 Handing 2003-2-21 2003-2-22 0.78 500028 Xingye 2003-2-21 2003-2-22 0.82 500029 Kexun 2003-2-21 2003-2-22 0.913 500035 Hanbo 2003-2-21 2003-2-22 0.823 500038 Tongqian 2003-2-21 2003-2-22 0.9 500039 Tongde 2003-2-21 2003-2-22 0.922 500056 Kerui 2003-2-21 2003-2-22 0.954 500058 Yinfeng 2003-2-21 2003-2-22 0.996 500001 Jintai 2003-2-28 2003-3-1 0.907 500002 Taihe 2003-2-28 2003-3-1 0.931 500003 Anxin 2003-2-28 2003-3-1 0.965 500005 Hansheng 2003-2-28 2003-3-1 0.884 500006 Yuyang 2003-2-28 2003-3-1 0.96 500007 Jingyang 2003-2-28 2003-3-1 0.971 500008 Xinghua 2003-2-28 2003-3-1 1.067 500009 Anshun 2003-2-28 2003-3-1 1.01 500010 Jinyuan 2003-2-28 2003-3-1 0.802 500011 Jinxin 2003-2-28 2003-3-1 0.952 500013 Anrui 2003-2-28 2003-3-1 0.979 500015 Hanxing 2003-2-28 2003-3-1 0.81 500016 Yuyuan 2003-2-28 2003-3-1 0.984 500017 Jingye 2003-2-28 2003-3-1 0.744 500018 Xinghe 2003-2-28 2003-3-1 1.007 500019 Purun 2003-2-28 2003-3-1 0.897 500021 Jinding 2003-2-28 2003-3-1 0.822 500025 Handing 2003-2-28 2003-3-1 0.788 500028 Xingye 2003-2-28 2003-3-1 0.824 500029 Kexun 2003-2-28 2003-3-1 0.927 500035 Hanbo 2003-2-28 2003-3-1 0.828
95 500038 Tongqian 2003-2-28 2003-3-1 0.909 500039 Tongde 2003-2-28 2003-3-1 0.929 500056 Kerui 2003-2-28 2003-3-1 0.965 500058 Yinfeng 2003-2-28 2003-3-1 1.003 500001 Jintai 2003-3-7 2003-3-8 0.906 500002 Taihe 2003-3-7 2003-3-8 0.928 500003 Anxin 2003-3-7 2003-3-8 0.964 500005 Hansheng 2003-3-7 2003-3-8 0.885 500006 Yuyang 2003-3-7 2003-3-8 0.962 500007 Jingyang 2003-3-7 2003-3-8 0.97 500008 Xinghua 2003-3-7 2003-3-8 1.069 500009 Anshun 2003-3-7 2003-3-8 1.009 500010 Jinyuan 2003-3-7 2003-3-8 0.804 500011 Jinxin 2003-3-7 2003-3-8 0.946 500013 Anrui 2003-3-7 2003-3-8 0.981 500015 Hanxing 2003-3-7 2003-3-8 0.809 500016 Yuyuan 2003-3-7 2003-3-8 0.987 500017 Jingye 2003-3-7 2003-3-8 0.74 500018 Xinghe 2003-3-7 2003-3-8 1.006 500019 Purun 2003-3-7 2003-3-8 0.895 500021 Jinding 2003-3-7 2003-3-8 0.822 500025 Handing 2003-3-7 2003-3-8 0.788 500028 Xingye 2003-3-7 2003-3-8 0.822 500029 Kexun 2003-3-7 2003-3-8 0.925 500035 Hanbo 2003-3-7 2003-3-8 0.826 500038 Tongqian 2003-3-7 2003-3-8 0.914 500039 Tongde 2003-3-7 2003-3-8 0.928 500056 Kerui 2003-3-7 2003-3-8 0.965 500058 Yinfeng 2003-3-7 2003-3-8 1.004 500001 Jintai 2003-3-14 2003-3-15 0.901 500002 Taihe 2003-3-14 2003-3-15 0.917 500003 Anxin 2003-3-14 2003-3-15 0.954 500005 Hansheng 2003-3-14 2003-3-15 0.878 500006 Yuyang 2003-3-14 2003-3-15 0.954 500007 Jingyang 2003-3-14 2003-3-15 0.958 500008 Xinghua 2003-3-14 2003-3-15 1.063 500009 Anshun 2003-3-14 2003-3-15 1 500010 Jinyuan 2003-3-14 2003-3-15 0.801 500011 Jinxin 2003-3-14 2003-3-15 0.938 500013 Anrui 2003-3-14 2003-3-15 0.972 500015 Hanxing 2003-3-14 2003-3-15 0.799 500016 Yuyuan 2003-3-14 2003-3-15 0.984 500017 Jingye 2003-3-14 2003-3-15 0.727 500018 Xinghe 2003-3-14 2003-3-15 0.996 500019 Purun 2003-3-14 2003-3-15 0.887 500021 Jinding 2003-3-14 2003-3-15 0.818 500025 Handing 2003-3-14 2003-3-15 0.78
96 500028 Xingye 2003-3-14 2003-3-15 0.813 500029 Kexun 2003-3-14 2003-3-15 0.918 500035 Hanbo 2003-3-14 2003-3-15 0.825 500038 Tongqian 2003-3-14 2003-3-15 0.911 500039 Tongde 2003-3-14 2003-3-15 0.919 500056 Kerui 2003-3-14 2003-3-15 0.959 500058 Yinfeng 2003-3-14 2003-3-15 0.996 500001 Jintai 2003-3-21 2003-3-22 0.903 500002 Taihe 2003-3-21 2003-3-22 0.919 500003 Anxin 2003-3-21 2003-3-22 0.959 500005 Hansheng 2003-3-21 2003-3-22 0.884 500006 Yuyang 2003-3-21 2003-3-22 0.959 500007 Jingyang 2003-3-21 2003-3-22 0.958 500008 Xinghua 2003-3-21 2003-3-22 1.075 500009 Anshun 2003-3-21 2003-3-22 1.006 500010 Jinyuan 2003-3-21 2003-3-22 0.805 500011 Jinxin 2003-3-21 2003-3-22 0.938 500013 Anrui 2003-3-21 2003-3-22 0.971 500015 Hanxing 2003-3-21 2003-3-22 0.8 500016 Yuyuan 2003-3-21 2003-3-22 0.985 500017 Jingye 2003-3-21 2003-3-22 0.726 500018 Xinghe 2003-3-21 2003-3-22 0.999 500019 Purun 2003-3-21 2003-3-22 0.888 500021 Jinding 2003-3-21 2003-3-22 0.819 500025 Handing 2003-3-21 2003-3-22 0.782 500028 Xingye 2003-3-21 2003-3-22 0.813 500029 Kexun 2003-3-21 2003-3-22 0.924 500035 Hanbo 2003-3-21 2003-3-22 0.825 500038 Tongqian 2003-3-21 2003-3-22 0.917 500039 Tongde 2003-3-21 2003-3-22 0.92 500056 Kerui 2003-3-21 2003-3-22 0.963 500058 Yinfeng 2003-3-21 2003-3-22 0.999 500001 Jintai 2003-3-28 2003-3-29 0.912 500002 Taihe 2003-3-28 2003-3-29 0.93 500003 Anxin 2003-3-28 2003-3-29 0.976 500005 Hansheng 2003-3-28 2003-3-29 0.897 500006 Yuyang 2003-3-28 2003-3-29 0.975 500007 Jingyang 2003-3-28 2003-3-29 0.973 500008 Xinghua 2003-3-28 2003-3-29 1.097 500009 Anshun 2003-3-28 2003-3-29 1.021 500010 Jinyuan 2003-3-28 2003-3-29 0.819 500011 Jinxin 2003-3-28 2003-3-29 0.95 500013 Anrui 2003-3-28 2003-3-29 0.982 500015 Hanxing 2003-3-28 2003-3-29 0.813 500016 Yuyuan 2003-3-28 2003-3-29 0.996 500017 Jingye 2003-3-28 2003-3-29 0.738 500018 Xinghe 2003-3-28 2003-3-29 1.018
97 500019 Purun 2003-3-28 2003-3-29 0.896 500021 Jinding 2003-3-28 2003-3-29 0.828 500025 Handing 2003-3-28 2003-3-29 0.792 500028 Xingye 2003-3-28 2003-3-29 0.82 500029 Kexun 2003-3-28 2003-3-29 0.94 500035 Hanbo 2003-3-28 2003-3-29 0.833 500038 Tongqian 2003-3-28 2003-3-29 0.928 500039 Tongde 2003-3-28 2003-3-29 0.927 500056 Kerui 2003-3-28 2003-3-29 0.979 500058 Yinfeng 2003-3-28 2003-3-29 1.012 500001 Jintai 2003-4-4 2003-4-5 0.922 500002 Taihe 2003-4-4 2003-4-5 0.939 500003 Anxin 2003-4-4 2003-4-5 0.99 500005 Hansheng 2003-4-4 2003-4-5 0.907 500006 Yuyang 2003-4-4 2003-4-5 0.991 500007 Jingyang 2003-4-4 2003-4-5 0.984 500008 Xinghua 2003-4-4 2003-4-5 1.111 500009 Anshun 2003-4-4 2003-4-5 1.032 500010 Jinyuan 2003-4-4 2003-4-5 0.837 500011 Jinxin 2003-4-4 2003-4-5 0.96 500013 Anrui 2003-4-4 2003-4-5 0.987 500015 Hanxing 2003-4-4 2003-4-5 0.821 500016 Yuyuan 2003-4-4 2003-4-5 1.013 500017 Jingye 2003-4-4 2003-4-5 0.748 500018 Xinghe 2003-4-4 2003-4-5 1.03 500019 Purun 2003-4-4 2003-4-5 0.903 500021 Jinding 2003-4-4 2003-4-5 0.84 500025 Handing 2003-4-4 2003-4-5 0.8 500028 Xingye 2003-4-4 2003-4-5 0.829 500029 Kexun 2003-4-4 2003-4-5 0.958 500035 Hanbo 2003-4-4 2003-4-5 0.84 500038 Tongqian 2003-4-4 2003-4-5 0.941 500039 Tongde 2003-4-4 2003-4-5 0.938 500056 Kerui 2003-4-4 2003-4-5 0.989 500058 Yinfeng 2003-4-4 2003-4-5 1.023 500001 Jintai 2003-4-11 2003-4-12 0.949 500002 Taihe 2003-4-11 2003-4-12 0.968 500003 Anxin 2003-4-11 2003-4-12 1.027 500005 Hansheng 2003-4-11 2003-4-12 0.946 500006 Yuyang 2003-4-11 2003-4-12 1.019 500007 Jingyang 2003-4-11 2003-4-12 1.027 500008 Xinghua 2003-4-11 2003-4-12 1.176 500009 Anshun 2003-4-11 2003-4-12 1.067 500010 Jinyuan 2003-4-11 2003-4-12 0.885 500011 Jinxin 2003-4-11 2003-4-12 0.99 500013 Anrui 2003-4-11 2003-4-12 1.003 500015 Hanxing 2003-4-11 2003-4-12 0.849
98 500016 Yuyuan 2003-4-11 2003-4-12 1.045 500017 Jingye 2003-4-11 2003-4-12 0.786 500018 Xinghe 2003-4-11 2003-4-12 1.08 500019 Purun 2003-4-11 2003-4-12 0.923 500021 Jinding 2003-4-11 2003-4-12 0.873 500025 Handing 2003-4-11 2003-4-12 0.831 500028 Xingye 2003-4-11 2003-4-12 0.861 500029 Kexun 2003-4-11 2003-4-12 0.994 500035 Hanbo 2003-4-11 2003-4-12 0.873 500038 Tongqian 2003-4-11 2003-4-12 0.974 500039 Tongde 2003-4-11 2003-4-12 0.967 500056 Kerui 2003-4-11 2003-4-12 1.025 500058 Yinfeng 2003-4-11 2003-4-12 1.054 500001 Jintai 2003-4-18 2003-4-19 0.969 500002 Taihe 2003-4-18 2003-4-19 0.98 500003 Anxin 2003-4-18 2003-4-19 1.057 500005 Hansheng 2003-4-18 2003-4-19 0.969 500006 Yuyang 2003-4-18 2003-4-19 1.039 500007 Jingyang 2003-4-18 2003-4-19 1.047 500008 Xinghua 2003-4-18 2003-4-19 1.197 500009 Anshun 2003-4-18 2003-4-19 1.101 500010 Jinyuan 2003-4-18 2003-4-19 0.881 500011 Jinxin 2003-4-18 2003-4-19 1.018 500013 Anrui 2003-4-18 2003-4-19 1.034 500015 Hanxing 2003-4-18 2003-4-19 0.865 500016 Yuyuan 2003-4-18 2003-4-19 1.076 500017 Jingye 2003-4-18 2003-4-19 0.813 500018 Xinghe 2003-4-18 2003-4-19 1.104 500019 Purun 2003-4-18 2003-4-19 0.936 500021 Jinding 2003-4-18 2003-4-19 0.893 500025 Handing 2003-4-18 2003-4-19 0.84 500028 Xingye 2003-4-18 2003-4-19 0.888 500029 Kexun 2003-4-18 2003-4-19 1.03 500035 Hanbo 2003-4-18 2003-4-19 0.888 500038 Tongqian 2003-4-18 2003-4-19 1.001 500039 Tongde 2003-4-18 2003-4-19 0.987 500056 Kerui 2003-4-18 2003-4-19 1.046 500058 Yinfeng 2003-4-18 2003-4-19 1.073 500001 Jintai 2003-4-25 2003-4-26 0.921 500002 Taihe 2003-4-25 2003-4-26 0.928 500003 Anxin 2003-4-25 2003-4-26 0.996 500005 Hansheng 2003-4-25 2003-4-26 0.906 500006 Yuyang 2003-4-25 2003-4-26 0.991 500007 Jingyang 2003-4-25 2003-4-26 0.997 500008 Xinghua 2003-4-25 2003-4-26 1.136 500009 Anshun 2003-4-25 2003-4-26 1.029 500010 Jinyuan 2003-4-25 2003-4-26 0.839
99 500011 Jinxin 2003-4-25 2003-4-26 0.97 500013 Anrui 2003-4-25 2003-4-26 0.971 500015 Hanxing 2003-4-25 2003-4-26 0.812 500016 Yuyuan 2003-4-25 2003-4-26 1.015 500017 Jingye 2003-4-25 2003-4-26 0.76 500018 Xinghe 2003-4-25 2003-4-26 1.038 500019 Purun 2003-4-25 2003-4-26 0.884 500021 Jinding 2003-4-25 2003-4-26 0.848 500025 Handing 2003-4-25 2003-4-26 0.797 500028 Xingye 2003-4-25 2003-4-26 0.831 500029 Kexun 2003-4-25 2003-4-26 0.958 500035 Hanbo 2003-4-25 2003-4-26 0.842 500038 Tongqian 2003-4-25 2003-4-26 0.947 500039 Tongde 2003-4-25 2003-4-26 0.944 500056 Kerui 2003-4-25 2003-4-26 0.987 500058 Yinfeng 2003-4-25 2003-4-26 1.021 500001 Jintai 2003-4-30 2003-5-12 0.939 500002 Taihe 2003-4-30 2003-5-12 0.959 500003 Anxin 2003-4-30 2003-5-12 1.018 500005 Hansheng 2003-4-30 2003-5-12 0.949 500006 Yuyang 2003-4-30 2003-5-12 1.017 500007 Jingyang 2003-4-30 2003-5-12 1.028 500008 Xinghua 2003-4-30 2003-5-12 1.183 500009 Anshun 2003-4-30 2003-5-12 1.05 500010 Jinyuan 2003-4-30 2003-5-12 0.871 500011 Jinxin 2003-4-30 2003-5-12 0.994 500013 Anrui 2003-4-30 2003-5-12 0.987 500015 Hanxing 2003-4-30 2003-5-12 0.833 500016 Yuyuan 2003-4-30 2003-5-12 1.055 500017 Jingye 2003-4-30 2003-5-12 0.808 500018 Xinghe 2003-4-30 2003-5-12 1.072 500019 Purun 2003-4-30 2003-5-12 0.912 500021 Jinding 2003-4-30 2003-5-12 0.872 500025 Handing 2003-4-30 2003-5-12 0.82 500028 Xingye 2003-4-30 2003-5-12 0.871 500029 Kexun 2003-4-30 2003-5-12 1.003 500035 Hanbo 2003-4-30 2003-5-12 0.873 500038 Tongqian 2003-4-30 2003-5-12 0.981 500039 Tongde 2003-4-30 2003-5-12 0.971 500056 Kerui 2003-4-30 2003-5-12 1.028 500058 Yinfeng 2003-4-30 2003-5-12 1.05 500001 Jintai 2003-5-16 2003-5-17 0.957 500002 Taihe 2003-5-16 2003-5-17 0.98 500003 Anxin 2003-5-16 2003-5-17 1.037 500005 Hansheng 2003-5-16 2003-5-17 0.973 500006 Yuyang 2003-5-16 2003-5-17 1.035 500007 Jingyang 2003-5-16 2003-5-17 1.061
100 500008 Xinghua 2003-5-16 2003-5-17 1.213 500009 Anshun 2003-5-16 2003-5-17 1.072 500010 Jinyuan 2003-5-16 2003-5-17 0.895 500011 Jinxin 2003-5-16 2003-5-17 1.012 500013 Anrui 2003-5-16 2003-5-17 1.006 500015 Hanxing 2003-5-16 2003-5-17 0.858 500016 Yuyuan 2003-5-16 2003-5-17 1.084 500017 Jingye 2003-5-16 2003-5-17 0.86 500018 Xinghe 2003-5-16 2003-5-17 1.101 500019 Purun 2003-5-16 2003-5-17 0.927 500021 Jinding 2003-5-16 2003-5-17 0.897 500025 Handing 2003-5-16 2003-5-17 0.824 500028 Xingye 2003-5-16 2003-5-17 0.915 500029 Kexun 2003-5-16 2003-5-17 1.043 500035 Hanbo 2003-5-16 2003-5-17 0.902 500038 Tongqian 2003-5-16 2003-5-17 1.003 500039 Tongde 2003-5-16 2003-5-17 0.991 500056 Kerui 2003-5-16 2003-5-17 1.061 500058 Yinfeng 2003-5-16 2003-5-17 1.069 500001 Jintai 2003-5-23 2003-5-24 0.963 500002 Taihe 2003-5-23 2003-5-24 0.989 500003 Anxin 2003-5-23 2003-5-24 1.045 500005 Hansheng 2003-5-23 2003-5-24 0.981 500006 Yuyang 2003-5-23 2003-5-24 1.045 500007 Jingyang 2003-5-23 2003-5-24 1.071 500008 Xinghua 2003-5-23 2003-5-24 1.218 500009 Anshun 2003-5-23 2003-5-24 1.08 500010 Jinyuan 2003-5-23 2003-5-24 0.904 500011 Jinxin 2003-5-23 2003-5-24 1.019 500013 Anrui 2003-5-23 2003-5-24 1.023 500015 Hanxing 2003-5-23 2003-5-24 0.862 500016 Yuyuan 2003-5-23 2003-5-24 1.097 500017 Jingye 2003-5-23 2003-5-24 0.867 500018 Xinghe 2003-5-23 2003-5-24 1.108 500019 Purun 2003-5-23 2003-5-24 0.933 500021 Jinding 2003-5-23 2003-5-24 0.908 500025 Handing 2003-5-23 2003-5-24 0.829 500028 Xingye 2003-5-23 2003-5-24 0.924 500029 Kexun 2003-5-23 2003-5-24 1.048 500035 Hanbo 2003-5-23 2003-5-24 0.916 500038 Tongqian 2003-5-23 2003-5-24 1.013 500039 Tongde 2003-5-23 2003-5-24 1.003 500056 Kerui 2003-5-23 2003-5-24 1.067 500058 Yinfeng 2003-5-23 2003-5-24 1.075 500001 Jintai 2003-5-30 2003-5-31 0.956 500002 Taihe 2003-5-30 2003-5-31 0.984 500003 Anxin 2003-5-30 2003-5-31 1.044
101 500005 Hansheng 2003-5-30 2003-5-31 0.973 500006 Yuyang 2003-5-30 2003-5-31 1.044 500007 Jingyang 2003-5-30 2003-5-31 1.076 500008 Xinghua 2003-5-30 2003-5-31 1.211 500009 Anshun 2003-5-30 2003-5-31 1.077 500010 Jinyuan 2003-5-30 2003-5-31 0.9 500011 Jinxin 2003-5-30 2003-5-31 1.012 500013 Anrui 2003-5-30 2003-5-31 1.018 500015 Hanxing 2003-5-30 2003-5-31 0.855 500016 Yuyuan 2003-5-30 2003-5-31 1.09 500017 Jingye 2003-5-30 2003-5-31 0.861 500018 Xinghe 2003-5-30 2003-5-31 1.104 500019 Purun 2003-5-30 2003-5-31 0.924 500021 Jinding 2003-5-30 2003-5-31 0.895 500025 Handing 2003-5-30 2003-5-31 0.816 500028 Xingye 2003-5-30 2003-5-31 0.911 500029 Kexun 2003-5-30 2003-5-31 1.042 500035 Hanbo 2003-5-30 2003-5-31 0.905 500038 Tongqian 2003-5-30 2003-5-31 1.013 500039 Tongde 2003-5-30 2003-5-31 0.998 500056 Kerui 2003-5-30 2003-5-31 1.054 500058 Yinfeng 2003-5-30 2003-5-31 1.075 500001 Jintai 2003-6-6 2003-6-7 0.94 500002 Taihe 2003-6-6 2003-6-7 0.981 500003 Anxin 2003-6-6 2003-6-7 1.019 500005 Hansheng 2003-6-6 2003-6-7 0.954 500006 Yuyang 2003-6-6 2003-6-7 1.032 500007 Jingyang 2003-6-6 2003-6-7 1.059 500008 Xinghua 2003-6-6 2003-6-7 1.195 500009 Anshun 2003-6-6 2003-6-7 1.051 500010 Jinyuan 2003-6-6 2003-6-7 0.886 500011 Jinxin 2003-6-6 2003-6-7 0.998 500013 Anrui 2003-6-6 2003-6-7 0.996 500015 Hanxing 2003-6-6 2003-6-7 0.844 500016 Yuyuan 2003-6-6 2003-6-7 1.074 500017 Jingye 2003-6-6 2003-6-7 0.838 500018 Xinghe 2003-6-6 2003-6-7 1.088 500019 Purun 2003-6-6 2003-6-7 0.913 500021 Jinding 2003-6-6 2003-6-7 0.88 500025 Handing 2003-6-6 2003-6-7 0.803 500028 Xingye 2003-6-6 2003-6-7 0.887 500029 Kexun 2003-6-6 2003-6-7 1.026 500035 Hanbo 2003-6-6 2003-6-7 0.881 500038 Tongqian 2003-6-6 2003-6-7 0.995 500039 Tongde 2003-6-6 2003-6-7 0.979 500056 Kerui 2003-6-6 2003-6-7 1.038 500058 Yinfeng 2003-6-6 2003-6-7 1.061
102 500001 Jintai 2003-6-13 2003-6-14 0.946 500002 Taihe 2003-6-13 2003-6-14 0.991 500003 Anxin 2003-6-13 2003-6-14 1.027 500005 Hansheng 2003-6-13 2003-6-14 0.957 500006 Yuyang 2003-6-13 2003-6-14 1.036 500007 Jingyang 2003-6-13 2003-6-14 1.064 500008 Xinghua 2003-6-13 2003-6-14 1.203 500009 Anshun 2003-6-13 2003-6-14 1.061 500010 Jinyuan 2003-6-13 2003-6-14 0.886 500011 Jinxin 2003-6-13 2003-6-14 1.006 500013 Anrui 2003-6-13 2003-6-14 1.002 500015 Hanxing 2003-6-13 2003-6-14 0.854 500016 Yuyuan 2003-6-13 2003-6-14 1.079 500017 Jingye 2003-6-13 2003-6-14 0.838 500018 Xinghe 2003-6-13 2003-6-14 1.098 500019 Purun 2003-6-13 2003-6-14 0.918 500021 Jinding 2003-6-13 2003-6-14 0.887 500025 Handing 2003-6-13 2003-6-14 0.811 500028 Xingye 2003-6-13 2003-6-14 0.887 500029 Kexun 2003-6-13 2003-6-14 1.038 500035 Hanbo 2003-6-13 2003-6-14 0.882 500038 Tongqian 2003-6-13 2003-6-14 0.999 500039 Tongde 2003-6-13 2003-6-14 0.985 500056 Kerui 2003-6-13 2003-6-14 1.049 500058 Yinfeng 2003-6-13 2003-6-14 1.073 500001 Jintai 2003-6-20 2003-6-21 0.929 500002 Taihe 2003-6-20 2003-6-21 0.973 500003 Anxin 2003-6-20 2003-6-21 1.008 500005 Hansheng 2003-6-20 2003-6-21 0.939 500006 Yuyang 2003-6-20 2003-6-21 1.019 500007 Jingyang 2003-6-20 2003-6-21 1.041 500008 Xinghua 2003-6-20 2003-6-21 1.182 500009 Anshun 2003-6-20 2003-6-21 1.039 500010 Jinyuan 2003-6-20 2003-6-21 0.869 500011 Jinxin 2003-6-20 2003-6-21 0.988 500013 Anrui 2003-6-20 2003-6-21 0.971 500015 Hanxing 2003-6-20 2003-6-21 0.84 500016 Yuyuan 2003-6-20 2003-6-21 1.059 500017 Jingye 2003-6-20 2003-6-21 0.824 500018 Xinghe 2003-6-20 2003-6-21 1.077 500019 Purun 2003-6-20 2003-6-21 0.902 500021 Jinding 2003-6-20 2003-6-21 0.871 500025 Handing 2003-6-20 2003-6-21 0.798 500028 Xingye 2003-6-20 2003-6-21 0.869 500029 Kexun 2003-6-20 2003-6-21 1.016 500035 Hanbo 2003-6-20 2003-6-21 0.865 500038 Tongqian 2003-6-20 2003-6-21 0.978
103 500039 Tongde 2003-6-20 2003-6-21 0.963 500056 Kerui 2003-6-20 2003-6-21 1.028 500058 Yinfeng 2003-6-20 2003-6-21 1.057 500001 Jintai 2003-6-27 2003-6-28 0.92 500002 Taihe 2003-6-27 2003-6-28 0.964 500003 Anxin 2003-6-27 2003-6-28 0.997 500005 Hansheng 2003-6-27 2003-6-28 0.93 500006 Yuyang 2003-6-27 2003-6-28 1.01 500007 Jingyang 2003-6-27 2003-6-28 1.027 500008 Xinghua 2003-6-27 2003-6-28 1.171 500009 Anshun 2003-6-27 2003-6-28 1.026 500010 Jinyuan 2003-6-27 2003-6-28 0.858 500011 Jinxin 2003-6-27 2003-6-28 0.979 500013 Anrui 2003-6-27 2003-6-28 0.951 500015 Hanxing 2003-6-27 2003-6-28 0.831 500016 Yuyuan 2003-6-27 2003-6-28 1.053 500017 Jingye 2003-6-27 2003-6-28 0.818 500018 Xinghe 2003-6-27 2003-6-28 1.06 500019 Purun 2003-6-27 2003-6-28 0.89 500021 Jinding 2003-6-27 2003-6-28 0.858 500025 Handing 2003-6-27 2003-6-28 0.79 500028 Xingye 2003-6-27 2003-6-28 0.852 500029 Kexun 2003-6-27 2003-6-28 1.007 500035 Hanbo 2003-6-27 2003-6-28 0.858 500038 Tongqian 2003-6-27 2003-6-28 0.967 500039 Tongde 2003-6-27 2003-6-28 0.956 500056 Kerui 2003-6-27 2003-6-28 1.016 500058 Yinfeng 2003-6-27 2003-6-28 1.028 500001 Jintai 2003-7-4 2003-7-5 0.928 500002 Taihe 2003-7-4 2003-7-5 0.971 500003 Anxin 2003-7-4 2003-7-5 1.007 500005 Hansheng 2003-7-4 2003-7-5 0.946 500006 Yuyang 2003-7-4 2003-7-5 1.021 500007 Jingyang 2003-7-4 2003-7-5 1.033 500008 Xinghua 2003-7-4 2003-7-5 1.185 500009 Anshun 2003-7-4 2003-7-5 1.028 500010 Jinyuan 2003-7-4 2003-7-5 0.861 500011 Jinxin 2003-7-4 2003-7-5 0.986 500013 Anrui 2003-7-4 2003-7-5 0.948 500015 Hanxing 2003-7-4 2003-7-5 0.843 500016 Yuyuan 2003-7-4 2003-7-5 1.074 500017 Jingye 2003-7-4 2003-7-5 0.828 500018 Xinghe 2003-7-4 2003-7-5 1.07 500019 Purun 2003-7-4 2003-7-5 0.901 500021 Jinding 2003-7-4 2003-7-5 0.87 500025 Handing 2003-7-4 2003-7-5 0.787 500028 Xingye 2003-7-4 2003-7-5 0.861
104 500029 Kexun 2003-7-4 2003-7-5 1.021 500035 Hanbo 2003-7-4 2003-7-5 0.875 500038 Tongqian 2003-7-4 2003-7-5 0.979 500039 Tongde 2003-7-4 2003-7-5 0.966 500056 Kerui 2003-7-4 2003-7-5 1.029 500058 Yinfeng 2003-7-4 2003-7-5 1.038 500001 Jintai 2003-7-11 2003-7-12 0.948 500002 Taihe 2003-7-11 2003-7-12 0.983 500003 Anxin 2003-7-11 2003-7-12 1.03 500005 Hansheng 2003-7-11 2003-7-12 0.963 500006 Yuyang 2003-7-11 2003-7-12 1.035 500007 Jingyang 2003-7-11 2003-7-12 1.053 500008 Xinghua 2003-7-11 2003-7-12 1.201 500009 Anshun 2003-7-11 2003-7-12 1.051 500010 Jinyuan 2003-7-11 2003-7-12 0.875 500011 Jinxin 2003-7-11 2003-7-12 1.004 500013 Anrui 2003-7-11 2003-7-12 0.966 500015 Hanxing 2003-7-11 2003-7-12 0.852 500016 Yuyuan 2003-7-11 2003-7-12 1.096 500017 Jingye 2003-7-11 2003-7-12 0.842 500018 Xinghe 2003-7-11 2003-7-12 1.084 500019 Purun 2003-7-11 2003-7-12 0.912 500021 Jinding 2003-7-11 2003-7-12 0.889 500025 Handing 2003-7-11 2003-7-12 0.798 500028 Xingye 2003-7-11 2003-7-12 0.872 500029 Kexun 2003-7-11 2003-7-12 1.039 500035 Hanbo 2003-7-11 2003-7-12 0.887 500038 Tongqian 2003-7-11 2003-7-12 1 500039 Tongde 2003-7-11 2003-7-12 0.979 500056 Kerui 2003-7-11 2003-7-12 1.044 500058 Yinfeng 2003-7-11 2003-7-12 1.057 500001 Jintai 2003-7-18 2003-7-19 0.956 500002 Taihe 2003-7-18 2003-7-19 0.984 500003 Anxin 2003-7-18 2003-7-19 1.037 500005 Hansheng 2003-7-18 2003-7-19 0.968 500006 Yuyang 2003-7-18 2003-7-19 1.047 500007 Jingyang 2003-7-18 2003-7-19 1.057 500008 Xinghua 2003-7-18 2003-7-19 1.203 500009 Anshun 2003-7-18 2003-7-19 1.055 500010 Jinyuan 2003-7-18 2003-7-19 0.881 500011 Jinxin 2003-7-18 2003-7-19 1.006 500013 Anrui 2003-7-18 2003-7-19 0.958 500015 Hanxing 2003-7-18 2003-7-19 0.856 500016 Yuyuan 2003-7-18 2003-7-19 1.118 500017 Jingye 2003-7-18 2003-7-19 0.848 500018 Xinghe 2003-7-18 2003-7-19 1.084 500019 Purun 2003-7-18 2003-7-19 0.917
105 500021 Jinding 2003-7-18 2003-7-19 0.898 500025 Handing 2003-7-18 2003-7-19 0.802 500028 Xingye 2003-7-18 2003-7-19 0.876 500029 Kexun 2003-7-18 2003-7-19 1.048 500035 Hanbo 2003-7-18 2003-7-19 0.891 500038 Tongqian 2003-7-18 2003-7-19 1.009 500039 Tongde 2003-7-18 2003-7-19 0.985 500056 Kerui 2003-7-18 2003-7-19 1.052 500058 Yinfeng 2003-7-18 2003-7-19 1.064 500001 Jintai 2003-7-25 2003-7-26 0.935 500002 Taihe 2003-7-25 2003-7-26 0.97 500003 Anxin 2003-7-25 2003-7-26 1.02 500005 Hansheng 2003-7-25 2003-7-26 0.939 500006 Yuyang 2003-7-25 2003-7-26 1.025 500007 Jingyang 2003-7-25 2003-7-26 1.03 500008 Xinghua 2003-7-25 2003-7-26 1.179 500009 Anshun 2003-7-25 2003-7-26 1.041 500010 Jinyuan 2003-7-25 2003-7-26 0.865 500011 Jinxin 2003-7-25 2003-7-26 0.983 500013 Anrui 2003-7-25 2003-7-26 0.941 500015 Hanxing 2003-7-25 2003-7-26 0.835 500016 Yuyuan 2003-7-25 2003-7-26 1.097 500017 Jingye 2003-7-25 2003-7-26 0.82 500018 Xinghe 2003-7-25 2003-7-26 1.058 500019 Purun 2003-7-25 2003-7-26 0.899 500021 Jinding 2003-7-25 2003-7-26 0.887 500025 Handing 2003-7-25 2003-7-26 0.793 500028 Xingye 2003-7-25 2003-7-26 0.849 500029 Kexun 2003-7-25 2003-7-26 1.027 500035 Hanbo 2003-7-25 2003-7-26 0.863 500038 Tongqian 2003-7-25 2003-7-26 0.99 500039 Tongde 2003-7-25 2003-7-26 0.965 500056 Kerui 2003-7-25 2003-7-26 1.036 500058 Yinfeng 2003-7-25 2003-7-26 1.045 500001 Jintai 2003-8-1 2003-8-2 0.941 500002 Taihe 2003-8-1 2003-8-2 0.966 500003 Anxin 2003-8-1 2003-8-2 1.023 500005 Hansheng 2003-8-1 2003-8-2 0.941 500006 Yuyang 2003-8-1 2003-8-2 1.024 500007 Jingyang 2003-8-1 2003-8-2 1.029 500008 Xinghua 2003-8-1 2003-8-2 1.179 500009 Anshun 2003-8-1 2003-8-2 1.042 500010 Jinyuan 2003-8-1 2003-8-2 0.865 500011 Jinxin 2003-8-1 2003-8-2 0.986 500013 Anrui 2003-8-1 2003-8-2 0.934 500015 Hanxing 2003-8-1 2003-8-2 0.833 500016 Yuyuan 2003-8-1 2003-8-2 1.096
106 500017 Jingye 2003-8-1 2003-8-2 0.821 500018 Xinghe 2003-8-1 2003-8-2 1.055 500019 Purun 2003-8-1 2003-8-2 0.901 500021 Jinding 2003-8-1 2003-8-2 0.888 500025 Handing 2003-8-1 2003-8-2 0.792 500028 Xingye 2003-8-1 2003-8-2 0.844 500029 Kexun 2003-8-1 2003-8-2 1.028 500035 Hanbo 2003-8-1 2003-8-2 0.863 500038 Tongqian 2003-8-1 2003-8-2 0.99 500039 Tongde 2003-8-1 2003-8-2 0.966 500056 Kerui 2003-8-1 2003-8-2 1.036 500058 Yinfeng 2003-8-1 2003-8-2 1.049 500001 Jintai 2003-8-8 2003-8-9 0.939 500002 Taihe 2003-8-8 2003-8-9 0.963 500003 Anxin 2003-8-8 2003-8-9 1.02 500005 Hansheng 2003-8-8 2003-8-9 0.939 500006 Yuyang 2003-8-8 2003-8-9 1.022 500007 Jingyang 2003-8-8 2003-8-9 1.026 500008 Xinghua 2003-8-8 2003-8-9 1.174 500009 Anshun 2003-8-8 2003-8-9 1.043 500010 Jinyuan 2003-8-8 2003-8-9 0.865 500011 Jinxin 2003-8-8 2003-8-9 0.985 500013 Anrui 2003-8-8 2003-8-9 0.936 500015 Hanxing 2003-8-8 2003-8-9 0.832 500016 Yuyuan 2003-8-8 2003-8-9 1.092 500017 Jingye 2003-8-8 2003-8-9 0.816 500018 Xinghe 2003-8-8 2003-8-9 1.053 500019 Purun 2003-8-8 2003-8-9 0.899 500021 Jinding 2003-8-8 2003-8-9 0.888 500025 Handing 2003-8-8 2003-8-9 0.791 500028 Xingye 2003-8-8 2003-8-9 0.844 500029 Kexun 2003-8-8 2003-8-9 1.026 500035 Hanbo 2003-8-8 2003-8-9 0.859 500038 Tongqian 2003-8-8 2003-8-9 0.985 500039 Tongde 2003-8-8 2003-8-9 0.962 500056 Kerui 2003-8-8 2003-8-9 1.034 500058 Yinfeng 2003-8-8 2003-8-9 1.044 500001 Jintai 2003-8-15 2003-8-16 0.925 500002 Taihe 2003-8-15 2003-8-16 0.944 500003 Anxin 2003-8-15 2003-8-16 1.011 500005 Hansheng 2003-8-15 2003-8-16 0.922 500006 Yuyang 2003-8-15 2003-8-16 1.006 500007 Jingyang 2003-8-15 2003-8-16 1.009 500008 Xinghua 2003-8-15 2003-8-16 1.155 500009 Anshun 2003-8-15 2003-8-16 1.036 500010 Jinyuan 2003-8-15 2003-8-16 0.852 500011 Jinxin 2003-8-15 2003-8-16 0.973
107 500013 Anrui 2003-8-15 2003-8-16 0.933 500015 Hanxing 2003-8-15 2003-8-16 0.816 500016 Yuyuan 2003-8-15 2003-8-16 1.068 500017 Jingye 2003-8-15 2003-8-16 0.8 500018 Xinghe 2003-8-15 2003-8-16 1.037 500019 Purun 2003-8-15 2003-8-16 0.881 500021 Jinding 2003-8-15 2003-8-16 0.873 500025 Handing 2003-8-15 2003-8-16 0.781 500028 Xingye 2003-8-15 2003-8-16 0.828 500029 Kexun 2003-8-15 2003-8-16 1.007 500035 Hanbo 2003-8-15 2003-8-16 0.84 500038 Tongqian 2003-8-15 2003-8-16 0.968 500039 Tongde 2003-8-15 2003-8-16 0.94 500056 Kerui 2003-8-15 2003-8-16 1.018 500058 Yinfeng 2003-8-15 2003-8-16 1.026 500001 Jintai 2003-8-22 2003-8-23 0.923 500002 Taihe 2003-8-22 2003-8-23 0.939 500003 Anxin 2003-8-22 2003-8-23 1.008 500005 Hansheng 2003-8-22 2003-8-23 0.918 500006 Yuyang 2003-8-22 2003-8-23 1.004 500007 Jingyang 2003-8-22 2003-8-23 1.008 500008 Xinghua 2003-8-22 2003-8-23 1.153 500009 Anshun 2003-8-22 2003-8-23 1.034 500010 Jinyuan 2003-8-22 2003-8-23 0.851 500011 Jinxin 2003-8-22 2003-8-23 0.971 500013 Anrui 2003-8-22 2003-8-23 0.929 500015 Hanxing 2003-8-22 2003-8-23 0.814 500016 Yuyuan 2003-8-22 2003-8-23 1.067 500017 Jingye 2003-8-22 2003-8-23 0.795 500018 Xinghe 2003-8-22 2003-8-23 1.032 500019 Purun 2003-8-22 2003-8-23 0.881 500021 Jinding 2003-8-22 2003-8-23 0.871 500025 Handing 2003-8-22 2003-8-23 0.78 500028 Xingye 2003-8-22 2003-8-23 0.825 500029 Kexun 2003-8-22 2003-8-23 1.003 500035 Hanbo 2003-8-22 2003-8-23 0.837 500038 Tongqian 2003-8-22 2003-8-23 0.969 500039 Tongde 2003-8-22 2003-8-23 0.939 500056 Kerui 2003-8-22 2003-8-23 1.016 500058 Yinfeng 2003-8-22 2003-8-23 1.027 500001 Jintai 2003-8-29 2003-8-30 0.913 500002 Taihe 2003-8-29 2003-8-30 0.93 500003 Anxin 2003-8-29 2003-8-30 0.996 500005 Hansheng 2003-8-29 2003-8-30 0.911 500006 Yuyang 2003-8-29 2003-8-30 0.998 500007 Jingyang 2003-8-29 2003-8-30 1.001 500008 Xinghua 2003-8-29 2003-8-30 1.134
108 500009 Anshun 2003-8-29 2003-8-30 1.022 500010 Jinyuan 2003-8-29 2003-8-30 0.842 500011 Jinxin 2003-8-29 2003-8-30 0.959 500013 Anrui 2003-8-29 2003-8-30 0.912 500015 Hanxing 2003-8-29 2003-8-30 0.807 500016 Yuyuan 2003-8-29 2003-8-30 1.065 500017 Jingye 2003-8-29 2003-8-30 0.791 500018 Xinghe 2003-8-29 2003-8-30 1.019 500019 Purun 2003-8-29 2003-8-30 0.877 500021 Jinding 2003-8-29 2003-8-30 0.866 500025 Handing 2003-8-29 2003-8-30 0.773 500028 Xingye 2003-8-29 2003-8-30 0.819 500029 Kexun 2003-8-29 2003-8-30 0.995 500035 Hanbo 2003-8-29 2003-8-30 0.837 500038 Tongqian 2003-8-29 2003-8-30 0.96 500039 Tongde 2003-8-29 2003-8-30 0.934 500056 Kerui 2003-8-29 2003-8-30 1.008 500058 Yinfeng 2003-8-29 2003-8-30 1.017 500001 Jintai 2003-9-5 2003-9-6 0.916 500002 Taihe 2003-9-5 2003-9-6 0.933 500003 Anxin 2003-9-5 2003-9-6 1.005 500005 Hansheng 2003-9-5 2003-9-6 0.914 500006 Yuyang 2003-9-5 2003-9-6 1.002 500007 Jingyang 2003-9-5 2003-9-6 1.006 500008 Xinghua 2003-9-5 2003-9-6 1.137 500009 Anshun 2003-9-5 2003-9-6 1.029 500010 Jinyuan 2003-9-5 2003-9-6 0.844 500011 Jinxin 2003-9-5 2003-9-6 0.964 500013 Anrui 2003-9-5 2003-9-6 0.919 500015 Hanxing 2003-9-5 2003-9-6 0.812 500016 Yuyuan 2003-9-5 2003-9-6 1.066 500017 Jingye 2003-9-5 2003-9-6 0.795 500018 Xinghe 2003-9-5 2003-9-6 1.027 500019 Purun 2003-9-5 2003-9-6 0.879 500021 Jinding 2003-9-5 2003-9-6 0.867 500025 Handing 2003-9-5 2003-9-6 0.778 500028 Xingye 2003-9-5 2003-9-6 0.819 500029 Kexun 2003-9-5 2003-9-6 0.994 500035 Hanbo 2003-9-5 2003-9-6 0.841 500038 Tongqian 2003-9-5 2003-9-6 0.963 500039 Tongde 2003-9-5 2003-9-6 0.94 500056 Kerui 2003-9-5 2003-9-6 1.01 500058 Yinfeng 2003-9-5 2003-9-6 1.022 500001 Jintai 2003-9-12 2003-9-13 0.909 500002 Taihe 2003-9-12 2003-9-13 0.927 500003 Anxin 2003-9-12 2003-9-13 0.995 500005 Hansheng 2003-9-12 2003-9-13 0.908
109 500006 Yuyang 2003-9-12 2003-9-13 0.99 500007 Jingyang 2003-9-12 2003-9-13 0.995 500008 Xinghua 2003-9-12 2003-9-13 1.131 500009 Anshun 2003-9-12 2003-9-13 1.021 500010 Jinyuan 2003-9-12 2003-9-13 0.839 500011 Jinxin 2003-9-12 2003-9-13 0.953 500013 Anrui 2003-9-12 2003-9-13 0.906 500015 Hanxing 2003-9-12 2003-9-13 0.807 500016 Yuyuan 2003-9-12 2003-9-13 1.053 500017 Jingye 2003-9-12 2003-9-13 0.789 500018 Xinghe 2003-9-12 2003-9-13 1.019 500019 Purun 2003-9-12 2003-9-13 0.873 500021 Jinding 2003-9-12 2003-9-13 0.857 500025 Handing 2003-9-12 2003-9-13 0.769 500028 Xingye 2003-9-12 2003-9-13 0.812 500029 Kexun 2003-9-12 2003-9-13 0.987 500035 Hanbo 2003-9-12 2003-9-13 0.836 500038 Tongqian 2003-9-12 2003-9-13 0.951 500039 Tongde 2003-9-12 2003-9-13 0.935 500056 Kerui 2003-9-12 2003-9-13 1.002 500058 Yinfeng 2003-9-12 2003-9-13 1.016 500001 Jintai 2003-9-19 2003-9-20 0.901 500002 Taihe 2003-9-19 2003-9-20 0.911 500003 Anxin 2003-9-19 2003-9-20 0.979 500005 Hansheng 2003-9-19 2003-9-20 0.894 500006 Yuyang 2003-9-19 2003-9-20 0.978 500007 Jingyang 2003-9-19 2003-9-20 0.984 500008 Xinghua 2003-9-19 2003-9-20 1.112 500009 Anshun 2003-9-19 2003-9-20 1.008 500010 Jinyuan 2003-9-19 2003-9-20 0.827 500011 Jinxin 2003-9-19 2003-9-20 0.94 500013 Anrui 2003-9-19 2003-9-20 0.895 500015 Hanxing 2003-9-19 2003-9-20 0.796 500016 Yuyuan 2003-9-19 2003-9-20 1.039 500017 Jingye 2003-9-19 2003-9-20 0.78 500018 Xinghe 2003-9-19 2003-9-20 1.002 500019 Purun 2003-9-19 2003-9-20 0.862 500021 Jinding 2003-9-19 2003-9-20 0.848 500025 Handing 2003-9-19 2003-9-20 0.757 500028 Xingye 2003-9-19 2003-9-20 0.802 500029 Kexun 2003-9-19 2003-9-20 0.975 500035 Hanbo 2003-9-19 2003-9-20 0.827 500038 Tongqian 2003-9-19 2003-9-20 0.938 500039 Tongde 2003-9-19 2003-9-20 0.923 500056 Kerui 2003-9-19 2003-9-20 0.991 500058 Yinfeng 2003-9-19 2003-9-20 1 500001 Jintai 2003-9-26 2003-9-27 0.891
110 500002 Taihe 2003-9-26 2003-9-27 0.903 500003 Anxin 2003-9-26 2003-9-27 0.97 500005 Hansheng 2003-9-26 2003-9-27 0.882 500006 Yuyang 2003-9-26 2003-9-27 0.967 500007 Jingyang 2003-9-26 2003-9-27 0.974 500008 Xinghua 2003-9-26 2003-9-27 1.103 500009 Anshun 2003-9-26 2003-9-27 0.997 500010 Jinyuan 2003-9-26 2003-9-27 0.821 500011 Jinxin 2003-9-26 2003-9-27 0.932 500013 Anrui 2003-9-26 2003-9-27 0.882 500015 Hanxing 2003-9-26 2003-9-27 0.786 500016 Yuyuan 2003-9-26 2003-9-27 1.025 500017 Jingye 2003-9-26 2003-9-27 0.769 500018 Xinghe 2003-9-26 2003-9-27 0.992 500019 Purun 2003-9-26 2003-9-27 0.854 500021 Jinding 2003-9-26 2003-9-27 0.837 500025 Handing 2003-9-26 2003-9-27 0.751 500028 Xingye 2003-9-26 2003-9-27 0.795 500029 Kexun 2003-9-26 2003-9-27 0.965 500035 Hanbo 2003-9-26 2003-9-27 0.817 500038 Tongqian 2003-9-26 2003-9-27 0.929 500039 Tongde 2003-9-26 2003-9-27 0.913 500056 Kerui 2003-9-26 2003-9-27 0.981 500058 Yinfeng 2003-9-26 2003-9-27 0.988 500001 Jintai 2003-10-10 2003-10-11 0.916 500002 Taihe 2003-10-10 2003-10-11 0.927 500003 Anxin 2003-10-10 2003-10-11 0.978 500005 Hansheng 2003-10-10 2003-10-11 0.897 500006 Yuyang 2003-10-10 2003-10-11 0.983 500007 Jingyang 2003-10-10 2003-10-11 0.983 500008 Xinghua 2003-10-10 2003-10-11 1.12 500009 Anshun 2003-10-10 2003-10-11 1.009 500010 Jinyuan 2003-10-10 2003-10-11 0.833 500011 Jinxin 2003-10-10 2003-10-11 0.946 500013 Anrui 2003-10-10 2003-10-11 0.896 500015 Hanxing 2003-10-10 2003-10-11 0.802 500016 Yuyuan 2003-10-10 2003-10-11 1.05 500017 Jingye 2003-10-10 2003-10-11 0.785 500018 Xinghe 2003-10-10 2003-10-11 1.008 500019 Purun 2003-10-10 2003-10-11 0.865 500021 Jinding 2003-10-10 2003-10-11 0.856 500025 Handing 2003-10-10 2003-10-11 0.767 500028 Xingye 2003-10-10 2003-10-11 0.808 500029 Kexun 2003-10-10 2003-10-11 0.983 500035 Hanbo 2003-10-10 2003-10-11 0.827 500038 Tongqian 2003-10-10 2003-10-11 0.945 500039 Tongde 2003-10-10 2003-10-11 0.932
111 500056 Kerui 2003-10-10 2003-10-11 0.999 500058 Yinfeng 2003-10-10 2003-10-11 1.008 500001 Jintai 2003-10-17 2003-10-18 0.905 500002 Taihe 2003-10-17 2003-10-18 0.92 500003 Anxin 2003-10-17 2003-10-18 0.968 500005 Hansheng 2003-10-17 2003-10-18 0.885 500006 Yuyang 2003-10-17 2003-10-18 0.97 500007 Jingyang 2003-10-17 2003-10-18 0.97 500008 Xinghua 2003-10-17 2003-10-18 1.111 500009 Anshun 2003-10-17 2003-10-18 0.999 500010 Jinyuan 2003-10-17 2003-10-18 0.826 500011 Jinxin 2003-10-17 2003-10-18 0.938 500013 Anrui 2003-10-17 2003-10-18 0.881 500015 Hanxing 2003-10-17 2003-10-18 0.792 500016 Yuyuan 2003-10-17 2003-10-18 1.036 500017 Jingye 2003-10-17 2003-10-18 0.768 500018 Xinghe 2003-10-17 2003-10-18 0.992 500019 Purun 2003-10-17 2003-10-18 0.855 500021 Jinding 2003-10-17 2003-10-18 0.85 500025 Handing 2003-10-17 2003-10-18 0.76 500028 Xingye 2003-10-17 2003-10-18 0.793 500029 Kexun 2003-10-17 2003-10-18 0.973 500035 Hanbo 2003-10-17 2003-10-18 0.818 500038 Tongqian 2003-10-17 2003-10-18 0.936 500039 Tongde 2003-10-17 2003-10-18 0.921 500056 Kerui 2003-10-17 2003-10-18 0.995 500058 Yinfeng 2003-10-17 2003-10-18 0.996 500001 Jintai 2003-10-24 2003-10-25 0.919 500002 Taihe 2003-10-24 2003-10-25 0.94 500003 Anxin 2003-10-24 2003-10-25 0.979 500005 Hansheng 2003-10-24 2003-10-25 0.902 500006 Yuyang 2003-10-24 2003-10-25 0.985 500007 Jingyang 2003-10-24 2003-10-25 0.982 500008 Xinghua 2003-10-24 2003-10-25 1.131 500009 Anshun 2003-10-24 2003-10-25 1.01 500010 Jinyuan 2003-10-24 2003-10-25 0.874 500011 Jinxin 2003-10-24 2003-10-25 0.95 500013 Anrui 2003-10-24 2003-10-25 0.887 500015 Hanxing 2003-10-24 2003-10-25 0.805 500016 Yuyuan 2003-10-24 2003-10-25 1.055 500017 Jingye 2003-10-24 2003-10-25 0.781 500018 Xinghe 2003-10-24 2003-10-25 1.013 500019 Purun 2003-10-24 2003-10-25 0.866 500021 Jinding 2003-10-24 2003-10-25 0.866 500025 Handing 2003-10-24 2003-10-25 0.773 500028 Xingye 2003-10-24 2003-10-25 0.811 500029 Kexun 2003-10-24 2003-10-25 0.987
112 500035 Hanbo 2003-10-24 2003-10-25 0.828 500038 Tongqian 2003-10-24 2003-10-25 0.947 500039 Tongde 2003-10-24 2003-10-25 0.941 500056 Kerui 2003-10-24 2003-10-25 1.009 500058 Yinfeng 2003-10-24 2003-10-25 1.012 500001 Jintai 2003-10-31 2003-11-1 0.922 500002 Taihe 2003-10-31 2003-11-1 0.95 500003 Anxin 2003-10-31 2003-11-1 0.986 500005 Hansheng 2003-10-31 2003-11-1 0.913 500006 Yuyang 2003-10-31 2003-11-1 0.992 500007 Jingyang 2003-10-31 2003-11-1 0.98 500008 Xinghua 2003-10-31 2003-11-1 1.144 500009 Anshun 2003-10-31 2003-11-1 1.011 500010 Jinyuan 2003-10-31 2003-11-1 0.845 500011 Jinxin 2003-10-31 2003-11-1 0.95 500013 Anrui 2003-10-31 2003-11-1 0.874 500015 Hanxing 2003-10-31 2003-11-1 0.811 500016 Yuyuan 2003-10-31 2003-11-1 1.068 500017 Jingye 2003-10-31 2003-11-1 0.793 500018 Xinghe 2003-10-31 2003-11-1 1.006 500019 Purun 2003-10-31 2003-11-1 0.871 500021 Jinding 2003-10-31 2003-11-1 0.869 500025 Handing 2003-10-31 2003-11-1 0.78 500028 Xingye 2003-10-31 2003-11-1 0.799 500029 Kexun 2003-10-31 2003-11-1 0.997 500035 Hanbo 2003-10-31 2003-11-1 0.826 500038 Tongqian 2003-10-31 2003-11-1 0.955 500039 Tongde 2003-10-31 2003-11-1 0.948 500056 Kerui 2003-10-31 2003-11-1 1.015 500058 Yinfeng 2003-10-31 2003-11-1 1.022 500001 Jintai 2003-11-7 2003-11-8 0.936 500002 Taihe 2003-11-7 2003-11-8 0.964 500003 Anxin 2003-11-7 2003-11-8 0.989 500005 Hansheng 2003-11-7 2003-11-8 0.928 500006 Yuyang 2003-11-7 2003-11-8 0.997 500007 Jingyang 2003-11-7 2003-11-8 0.979 500008 Xinghua 2003-11-7 2003-11-8 1.16 500009 Anshun 2003-11-7 2003-11-8 1.012 500010 Jinyuan 2003-11-7 2003-11-8 0.853 500011 Jinxin 2003-11-7 2003-11-8 0.959 500013 Anrui 2003-11-7 2003-11-8 0.864 500015 Hanxing 2003-11-7 2003-11-8 0.822 500016 Yuyuan 2003-11-7 2003-11-8 1.08 500017 Jingye 2003-11-7 2003-11-8 0.801 500018 Xinghe 2003-11-7 2003-11-8 1.018 500019 Purun 2003-11-7 2003-11-8 0.875 500021 Jinding 2003-11-7 2003-11-8 0.883
113 500025 Handing 2003-11-7 2003-11-8 0.79 500028 Xingye 2003-11-7 2003-11-8 0.81 500029 Kexun 2003-11-7 2003-11-8 1.014 500035 Hanbo 2003-11-7 2003-11-8 0.83 500038 Tongqian 2003-11-7 2003-11-8 0.955 500039 Tongde 2003-11-7 2003-11-8 0.964 500056 Kerui 2003-11-7 2003-11-8 1.031 500058 Yinfeng 2003-11-7 2003-11-8 1.038 500001 Jintai 2003-11-14 2003-11-15 0.928 500002 Taihe 2003-11-14 2003-11-15 0.955 500003 Anxin 2003-11-14 2003-11-15 0.978 500005 Hansheng 2003-11-14 2003-11-15 0.917 500006 Yuyang 2003-11-14 2003-11-15 0.986 500007 Jingyang 2003-11-14 2003-11-15 0.964 500008 Xinghua 2003-11-14 2003-11-15 1.144 500009 Anshun 2003-11-14 2003-11-15 1.002 500010 Jinyuan 2003-11-14 2003-11-15 0.84 500011 Jinxin 2003-11-14 2003-11-15 0.951 500013 Anrui 2003-11-14 2003-11-15 0.851 500015 Hanxing 2003-11-14 2003-11-15 0.813 500016 Yuyuan 2003-11-14 2003-11-15 1.065 500017 Jingye 2003-11-14 2003-11-15 0.788 500018 Xinghe 2003-11-14 2003-11-15 1.009 500019 Purun 2003-11-14 2003-11-15 0.859 500021 Jinding 2003-11-14 2003-11-15 0.875 500025 Handing 2003-11-14 2003-11-15 0.781 500028 Xingye 2003-11-14 2003-11-15 0.799 500029 Kexun 2003-11-14 2003-11-15 1.004 500035 Hanbo 2003-11-14 2003-11-15 0.827 500038 Tongqian 2003-11-14 2003-11-15 0.946 500039 Tongde 2003-11-14 2003-11-15 0.954 500056 Kerui 2003-11-14 2003-11-15 1.022 500058 Yinfeng 2003-11-14 2003-11-15 1.026 500001 Jintai 2003-11-21 2003-11-22 0.937 500002 Taihe 2003-11-21 2003-11-22 0.971 500003 Anxin 2003-11-21 2003-11-22 0.994 500005 Hansheng 2003-11-21 2003-11-22 0.926 500006 Yuyang 2003-11-21 2003-11-22 0.998 500007 Jingyang 2003-11-21 2003-11-22 0.974 500008 Xinghua 2003-11-21 2003-11-22 1.163 500009 Anshun 2003-11-21 2003-11-22 1.015 500010 Jinyuan 2003-11-21 2003-11-22 0.852 500011 Jinxin 2003-11-21 2003-11-22 0.964 500013 Anrui 2003-11-21 2003-11-22 0.86 500015 Hanxing 2003-11-21 2003-11-22 0.824 500016 Yuyuan 2003-11-21 2003-11-22 1.075 500017 Jingye 2003-11-21 2003-11-22 0.792
114 500018 Xinghe 2003-11-21 2003-11-22 1.033 500019 Purun 2003-11-21 2003-11-22 0.87 500021 Jinding 2003-11-21 2003-11-22 0.883 500025 Handing 2003-11-21 2003-11-22 0.788 500028 Xingye 2003-11-21 2003-11-22 0.812 500029 Kexun 2003-11-21 2003-11-22 1.018 500035 Hanbo 2003-11-21 2003-11-22 0.839 500038 Tongqian 2003-11-21 2003-11-22 0.958 500039 Tongde 2003-11-21 2003-11-22 0.968 500056 Kerui 2003-11-21 2003-11-22 1.035 500058 Yinfeng 2003-11-21 2003-11-22 1.043 500001 Jintai 2003-11-28 2003-11-29 0.95 500002 Taihe 2003-11-28 2003-11-29 0.983 500003 Anxin 2003-11-28 2003-11-29 0.993 500005 Hansheng 2003-11-28 2003-11-29 0.936 500006 Yuyang 2003-11-28 2003-11-29 1.005 500007 Jingyang 2003-11-28 2003-11-29 0.979 500008 Xinghua 2003-11-28 2003-11-29 1.171 500009 Anshun 2003-11-28 2003-11-29 1.013 500010 Jinyuan 2003-11-28 2003-11-29 0.859 500011 Jinxin 2003-11-28 2003-11-29 0.97 500013 Anrui 2003-11-28 2003-11-29 0.873 500015 Hanxing 2003-11-28 2003-11-29 0.833 500016 Yuyuan 2003-11-28 2003-11-29 1.085 500017 Jingye 2003-11-28 2003-11-29 0.8 500018 Xinghe 2003-11-28 2003-11-29 1.042 500019 Purun 2003-11-28 2003-11-29 0.874 500021 Jinding 2003-11-28 2003-11-29 0.897 500025 Handing 2003-11-28 2003-11-29 0.794 500028 Xingye 2003-11-28 2003-11-29 0.818 500029 Kexun 2003-11-28 2003-11-29 1.025 500035 Hanbo 2003-11-28 2003-11-29 0.852 500038 Tongqian 2003-11-28 2003-11-29 0.961 500039 Tongde 2003-11-28 2003-11-29 0.973 500056 Kerui 2003-11-28 2003-11-29 1.043 500058 Yinfeng 2003-11-28 2003-11-29 1.048 500001 Jintai 2003-12-5 2003-12-6 0.976 500002 Taihe 2003-12-5 2003-12-6 1.01 500003 Anxin 2003-12-5 2003-12-6 1.019 500005 Hansheng 2003-12-5 2003-12-6 0.969 500006 Yuyang 2003-12-5 2003-12-6 1.035 500007 Jingyang 2003-12-5 2003-12-6 1.004 500008 Xinghua 2003-12-5 2003-12-6 1.209 500009 Anshun 2003-12-5 2003-12-6 1.035 500010 Jinyuan 2003-12-5 2003-12-6 0.887 500011 Jinxin 2003-12-5 2003-12-6 0.998 500013 Anrui 2003-12-5 2003-12-6 0.889
115 500015 Hanxing 2003-12-5 2003-12-6 0.86 500016 Yuyuan 2003-12-5 2003-12-6 1.113 500017 Jingye 2003-12-5 2003-12-6 0.822 500018 Xinghe 2003-12-5 2003-12-6 1.08 500019 Purun 2003-12-5 2003-12-6 0.896 500021 Jinding 2003-12-5 2003-12-6 0.919 500025 Handing 2003-12-5 2003-12-6 0.815 500028 Xingye 2003-12-5 2003-12-6 0.848 500029 Kexun 2003-12-5 2003-12-6 1.059 500035 Hanbo 2003-12-5 2003-12-6 0.873 500038 Tongqian 2003-12-5 2003-12-6 0.984 500039 Tongde 2003-12-5 2003-12-6 0.997 500056 Kerui 2003-12-5 2003-12-6 1.076 500058 Yinfeng 2003-12-5 2003-12-6 1.08 500001 Jintai 2003-12-12 2003-12-13 0.984 500002 Taihe 2003-12-12 2003-12-13 1.028 500003 Anxin 2003-12-12 2003-12-13 1.033 500005 Hansheng 2003-12-12 2003-12-13 0.978 500006 Yuyang 2003-12-12 2003-12-13 1.039 500007 Jingyang 2003-12-12 2003-12-13 1.004 500008 Xinghua 2003-12-12 2003-12-13 1.234 500009 Anshun 2003-12-12 2003-12-13 1.044 500010 Jinyuan 2003-12-12 2003-12-13 0.895 500011 Jinxin 2003-12-12 2003-12-13 1.006 500013 Anrui 2003-12-12 2003-12-13 0.895 500015 Hanxing 2003-12-12 2003-12-13 0.87 500016 Yuyuan 2003-12-12 2003-12-13 1.118 500017 Jingye 2003-12-12 2003-12-13 0.828 500018 Xinghe 2003-12-12 2003-12-13 1.098 500019 Purun 2003-12-12 2003-12-13 0.909 500021 Jinding 2003-12-12 2003-12-13 0.927 500025 Handing 2003-12-12 2003-12-13 0.817 500028 Xingye 2003-12-12 2003-12-13 0.852 500029 Kexun 2003-12-12 2003-12-13 1.072 500035 Hanbo 2003-12-12 2003-12-13 0.879 500038 Tongqian 2003-12-12 2003-12-13 0.992 500039 Tongde 2003-12-12 2003-12-13 0.995 500056 Kerui 2003-12-12 2003-12-13 1.089 500058 Yinfeng 2003-12-12 2003-12-13 1.087 500001 Jintai 2003-12-19 2003-12-20 1.007 500002 Taihe 2003-12-19 2003-12-20 1.036 500003 Anxin 2003-12-19 2003-12-20 1.045 500005 Hansheng 2003-12-19 2003-12-20 0.993 500006 Yuyang 2003-12-19 2003-12-20 1.048 500007 Jingyang 2003-12-19 2003-12-20 1.012 500008 Xinghua 2003-12-19 2003-12-20 1.257 500009 Anshun 2003-12-19 2003-12-20 1.055
116 500010 Jinyuan 2003-12-19 2003-12-20 0.908 500011 Jinxin 2003-12-19 2003-12-20 1.017 500013 Anrui 2003-12-19 2003-12-20 0.903 500015 Hanxing 2003-12-19 2003-12-20 0.885 500016 Yuyuan 2003-12-19 2003-12-20 1.125 500017 Jingye 2003-12-19 2003-12-20 0.832 500018 Xinghe 2003-12-19 2003-12-20 1.1 500019 Purun 2003-12-19 2003-12-20 0.92 500021 Jinding 2003-12-19 2003-12-20 0.948 500025 Handing 2003-12-19 2003-12-20 0.827 500028 Xingye 2003-12-19 2003-12-20 0.871 500029 Kexun 2003-12-19 2003-12-20 1.09 500035 Hanbo 2003-12-19 2003-12-20 0.894 500038 Tongqian 2003-12-19 2003-12-20 1.004 500039 Tongde 2003-12-19 2003-12-20 0.996 500056 Kerui 2003-12-19 2003-12-20 1.104 500058 Yinfeng 2003-12-19 2003-12-20 1.105 500001 Jintai 2003-12-26 2003-12-27 1.046 500002 Taihe 2003-12-26 2003-12-27 1.075 500003 Anxin 2003-12-26 2003-12-27 1.076 500005 Hansheng 2003-12-26 2003-12-27 1.033 500006 Yuyang 2003-12-26 2003-12-27 1.09 500007 Jingyang 2003-12-26 2003-12-27 1.06 500008 Xinghua 2003-12-26 2003-12-27 1.305 500009 Anshun 2003-12-26 2003-12-27 1.087 500010 Jinyuan 2003-12-26 2003-12-27 0.951 500011 Jinxin 2003-12-26 2003-12-27 1.058 500013 Anrui 2003-12-26 2003-12-27 0.929 500015 Hanxing 2003-12-26 2003-12-27 0.918 500016 Yuyuan 2003-12-26 2003-12-27 1.176 500017 Jingye 2003-12-26 2003-12-27 0.87 500018 Xinghe 2003-12-26 2003-12-27 1.143 500019 Purun 2003-12-26 2003-12-27 0.95 500021 Jinding 2003-12-26 2003-12-27 0.978 500025 Handing 2003-12-26 2003-12-27 0.865 500028 Xingye 2003-12-26 2003-12-27 0.909 500029 Kexun 2003-12-26 2003-12-27 1.142 500035 Hanbo 2003-12-26 2003-12-27 0.929 500038 Tongqian 2003-12-26 2003-12-27 1.045 500039 Tongde 2003-12-26 2003-12-27 1.022 500056 Kerui 2003-12-26 2003-12-27 1.156 500058 Yinfeng 2003-12-26 2003-12-27 1.131
117 Investor
Geographical Distribution of A Share Investors
Region No. of Accounts Percentage in New Accounts in Percentage Opened 2002 Total in Total (%) (%) Guangdong 3680178 10.38 146282 19.33 Shanghai 4637875 13.08 95379 12.6 Jiangsu 3353392 9.46 52701 6.96 Shandong 2220816 6.26 46476 6.14 Zhejiang 1824234 5.14 36511 4.82 Sichuan 2392855 6.75 34375 4.54 Beijing 1595827 4.5 34083 4.5 Hunan 945857 2.67 30637 4.05 Hebei 831648 2.35 28087 3.71 Liaoning 2145622 6.05 27341 3.61 Fujian 1350241 3.81 23942 3.16 Hainan 453124 1.28 23851 3.15 Henan 1071471 3.02 19516 2.58 Hubei 1196108 3.37 19218 2.54 Hei Long Jiang 990672 2.79 14698 1.94 Shanxi 852163 2.4 14042 1.86 Anhui 860296 2.43 13750 1.82 Jiangxi 636140 1.79 12735 1.68 Tianjin 803038 2.26 12116 1.6 Guangxi 468831 1.32 11174 1.48 Shanxi 577266 1.63 10953 1.45 Chongqing 141649 0.4 9703 1.28 Jilin 648084 1.83 8389 1.11 Yunnan 284788 0.8 7978 1.05 Xinjiang 461624 1.3 6615 0.87 Gansu 296034 0.83 4455 0.59 Guizhou 172475 0.49 3797 0.5 Inner Mongolia 242350 0.68 3133 0.41 Qinghai 191295 0.54 2766 0.37 Ningxia 110571 0.31 1964 0.26 Tibet 22186 0.06 165 0.02 Total 35458710 100 756832 100
118 Geographical Distribution of B Share Investors
Country or Region No. of Accounts Percentage in New Accounts in Percentage in Total (%) 2003 Total (%) Chinese Mainland 804635 82.05 15583 94.45 The United States 9480 0.97 212 1.28 Chinese Taiwan 5813 0.59 135 0.82 Chinese Hongkong 15464 1.58 93 0.56 Japan 3551 0.36 76 0.46 Great Britain 1706 0.17 57 0.35 Canada 2559 0.26 52 0.32 Singapore 1541 0.16 38 0.23 Overseas Chinese 124666 12.71 32 0.19 Australia 2503 0.26 25 0.15 South Korea 467 0.05 15 0.09 France 490 0.05 8 0.05 The Netherlands 306 0.03 7 0.04 Chinese Macao 708 0.07 5 0.03 Germany 524 0.05 2 0.01 Others 6248 0.64 159 0.96 Total 980661 100 16499 100
Academic Background of Investors Degree Below Technical Technical Junior University Master Degree Secondary School Secondary College and Above School Percentage 39.18% 26.74% 21.55% 8.51% 4.02%
Age Structure Age Below 30 30-40 40-50 50-60 Above 60 Percentage 27.29% 33.54% 22.66% 9.42% 7.09%
Gender Pattern of Investors Gender Male Female Percentage 54.82% 45.18%
Investor Accounts Opened with SSE (Historical Data) Year 1991 1992 1993 1994 1995 1996 1997 Accounts 11 111 424 575 685 1208 1713 (10 thousand) Year 1998 1999 2000 2001 2002 2003
119 Accounts 1999 2272 2940 3430 3556 3644 (10 thousand)
Membership
Overview By the end of 2003, Shanghai Stock Exchange had 177 members, consisting of 135 securities dealers and 42 non-securities dealers. The members had 2968 business departments with 4522 trading seats, comprising 4222 A-share seats and 300 B-share seats. Among members of securities dealers, there are 50 members with registered capital more than RMB 1 billion, 17 with more than RMB 2 million and 5 with more than RMB 3 billion.
To improve self-regulation management and protection of members against risks, Shanghai Stock Exchange, under the leadership of CSRC, has taken a series of effective measures to standardize operation of members and provide services to members in line with the Securities Law of the People’s Republic of China, the Provisions on Stock Exchange Management and other laws, regulations, rules and related business procedures:
1. Reinforce construction of related systems. At the time of discussing and amending the basic business procedures for membership management, Shanghai Stock Exchange promulgated Self-regulation Member Code and Guide to Regulate Member Business, improved the member’s business representative and liaison system, approached the feasibility of establishing member’s transaction qualification management system. The member management frame has gradually formed. 2. The comprehensive member management information system has been built in the light of the set plan. Its functions of member information storage, risk member alarm, analysis and handling have given initial results. Strengthen Daily Supervision Continue annual inspection of members Collect and analyze annual reports of members and overseas securities agencies on one hand and assess the risk rating of members as securities dealers and issue supervision letter to members as key supervised objects on the other hand. Members will supervised in follow-up way and rating results will be reported to China Clearing Corporation as a reference for adjusting settlement reserve of members. 1) Conduct special self-inspection and on-site inspection of brokerage In accordance with the Guide to Regulate Member Business, Shanghai Stock Exchange has developed member self-inspection to help members understand its business regulations quickly. In addition, it conducted special on-site inspection of brokerage in 2003, covering 9 members including Shen Yin Wan Guo Securities Company. By
120 conducting such inspections, Shanghai Stock Exchange achieved the purpose of supervising members for standard operation and accumulated experience of supervision. 2) Take systematic supervision measures extensively In addition to real-time monitoring of member’s transaction behavior, Shanghai Stock Exchange pays close attention to media or online reports related to members and supervision information obtained from other channels. The members will then be warned by phone call, written notice or talks in line with the internal systematic procedures to immediately identify member risk and stop members from suspected violations. 3. Work More Closely with the Securities Association of China Shanghai Stock Exchange signed cooperative memorandum with the Association and convened the first quarterly meeting with the Association and Shenzhen Stock Exchange to initiate joint supervision and promote improvement of supervision efficiency. 4. Intensify Service Functions Guided by market demand and concentrating on two major tasks of launching service projects and intensifying online services, Shanghai Stock Exchange conducted technical service survey in four places including northwest area and Beijing to inform members of its measures related to implementation of suggestions and improvement of technical services and listen to opinions and suggestions of members on improving technical services.
What’s more, Shanghai Stock Exchange presented 10 additional service projects in 2003, e.g. Listed Company Department provided “sharing of supervision information of listed companies” and guide to information disclosure, Supervisory Department created access to online “Good People Raising Hands” information, Legal Department compiled business procedures of Shanghai Stock Exchange, Information Center provided index information disclosure and spreading, statistic index optimization services, Finance Department opened the online window of charge and chargeback information release, Transaction Operation Department completed integrated service voice system phase II, Technical Center compiled guide for technical management of member information system and Fund Management finished off-site seat offer application program.
Shanghai Stock Exchange also held training for handling online member business, QFII, QFII trust bank and other related trainings.
Geographical Distribution of SSE Members and Business Outlets
Region No. of No. of Trading Value Percentage Members Business （10 thousand Yuan） % Outlets Shanghai 16 460 459453161.6 30 Beijing 14 148 226154861.7 14.77 Guangdong 35 476 224168007.5 14.64
121 Zhejiang 7 170 85027915.66 5.55 Jiangsu 8 177 82098640.61 5.36 Fujian 10 88 64660668.89 4.22 Shandong 5 132 59812058.81 3.91 Liaoning 12 168 51147443.86 3.34 Hubei 4 119 31174821.84 2.04 Sichuan 7 138 25795113.98 1.68 Jiangxi 2 60 20941396.98 1.37 Tianjin 2 87 17788596.5 1.16 Anhui 2 60 17659406.99 1.15 Shanxi 4 63 16956416.97 1.11 Shanxi 3 34 16583429.81 1.08 Xinjiang 2 31 16483312.21 1.08 Chongqing 2 60 15556529.99 1.02 Hunan 4 63 14732168.92 0.96 Hei Long Jiang 6 67 14414285.56 0.94 Hebei 4 62 11842911.51 0.77 Henan 6 73 10631201.32 0.69 Gansu 2 34 9045952.03 0.59 Hainan 6 27 9073729.49 0.59 Guangxi 1 38 8119880.51 0.53 Jilin 4 51 7119376.55 0.46 Yunnan 2 35 7072821.14 0.46 Guizhou 1 12 4894590.77 0.32 Inner Mongolia 2 24 1390072.26 0.09 Ningxia 1 13 1253884.48 0.08 Qinghai 2 4 453899.77 0.03 Tibet 1 2 45079.97 0
Membership Data Year 1990 1991 1992 1993 1994 1995 1996 No. of 25 29 171 481 550 553 523 Members Year 1997 1998 1999 2000 2001 2002 2003 No. of 467 317 309 305 255 199 171 Members
List of Top 50 Members with the Largest Trading Value
Rank Name of Member Total Trading Stock T-bond Spot T-bond Institution (10 thousand (10 thousand Value Yuan) Repurchase yuan) (10 thousand (10 thousand
122 Yuan) yuan) 1 China Galaxy Securities Co. Ltd. 102533329.5 26033295.75 4262168.59 69392400 2 Haitong Securities Co. Ltd. 82453781.3 18820057.29 6316574.26 55244570 3 Guo Tai Jun An Securities Co. Ltd. 80853813.52 23428455.98 4283245.36 49722550 4 Southern Securities Co. Ltd. 76829242.76 14901983.62 2213858.85 58801330 5 Huaxia Securities Co. Ltd. 76795140.99 14657483.61 2819904.07 56545860 6 CITIC Securities Co. Ltd. 74779165.58 8614966.6 4389128.14 57041640 7 Shen Yin Wan Guo Securities Co. Ltd. 57357217.27 19878759.84 3014349.03 32582450 8 Guangdong Development Securities Co. Ltd. 44063703.77 10631449.58 1459390.05 30957160 9 Tiantong Securities Co. Ltd. 38733920.41 6905660.54 5014443.58 26108980 10 Xiangcai Securities Co. Ltd. 36182244.9 5067850.33 3122730.77 26753010 11 Dapeng Securities Co. Ltd. 34785191.13 4295524.34 1736247.21 26602730 12 Hantang Securities Co. Ltd. 34113625.68 5125917.83 4850052.96 23636050 13 Everbright Securities Co. Ltd. 25768271.43 7369511.25 1261715.67 16103010 14 Orient Securities Co. Ltd. 25460747 6513030.62 1331993.54 17045060 15 Guoxin Securities Co. Ltd. 24299129.79 9232059.26 1012350.31 13154120 16 Minfang Securities Co. Ltd. 23770607.05 4336853.12 2971861.24 15877530 17 Xingye Securities Co. Ltd. 22999191.18 5204989.32 1058453.02 14753520 18 Chian Merchant Securities Co. Ltd. 19674942.68 7829881.97 1193701.82 8475380 19 China National Securities Co. Ltd. 19011251.43 3437074.76 3149267.98 12219910 20 China Science & Technology Securities Co. Ltd. 18932297.26 2706507.73 847750.17 15157710 21 Guangdong Securities Co. Ltd. 18678118.47 4921113.3 1020777.41 12076280 22 United Securities Co. Ltd. 18353127.38 5272871.78 479551.62 10852280 23 Ping An Securities Co. Ltd. 17433161.7 3887047.86 1119338.96 11315240 24 Liaoning Eastern Securities Co. Ltd. 16476105.48 681488.54 2959997.77 12770990 25 Jinxin Securities Co. Ltd. 16240581.15 3338733.38 1315184.28 10503020 26 Shanxi Securities Co. Ltd. 15456441.59 2443234.51 1283347.05 11458350 27 Huatai Securities Co. Ltd. 15436489.13 7298223.24 998025.49 6655690 28 Century Securities Co. Ltd. 14389545.17 1775093.49 981407.05 10912570 29 Hongyuan Securities Co. Ltd. 14014262.79 3718443.34 768885.24 6652490 30 Huaxin Securities Co. Ltd. 14006379.14 2215132.47 360206.92 11272600
123 31 Changjiang Securities Co. Ltd. 13971323.89 3366299.64 2173322.15 7516350 32 Jiangnan Securities Co. Ltd. 13894907.62 1948743.66 696541.42 11223680 33 Shanghai Securities Co. Ltd. 13258934.97 4225797.02 1236278.48 7246220 34 Southwest Securities Co. Ltd. 12586893.71 4156826 1297566.6 6813580 35 Jintong Securities Co. Ltd. 12558745.03 5381640.73 611349.91 6336370 36 Bohai Securities Co. Ltd. 12397840.59 4335974.05 874315.33 6807330 37 Dongwu Securities Co. Ltd. 12110477.92 3949776.68 1004724.17 6765130 38 Beijng Securities Co. Ltd. 11733647.39 3455161.43 444553.4 7525820 39 Guohai Securities Co. Ltd. 11732085.78 3306556.98 606590.92 6098980 40 Asia Securities Co. Ltd. 11666052.97 4718928.31 742098.02 5710320 41 Deheng Securities Co. Ltd. 11346395.76 1437195.63 2063040.57 7803420 42 Guoyuan Securities Co. Ltd. 11318726.14 5598529.02 772279.39 4662820 43 Great Wall Securities Co. Ltd. 11253274.96 4364251.66 1053723.3 5411480 44 Northern Securities Co. Ltd. 10590556.14 1741114.72 552926.84 8249210 45 Huaxi Securities Co. Ltd. 9706915.16 3053532.01 429162.26 6069220 46 Guang Fa Hua Fu Securities Co. Ltd. 9084561.23 2407385.77 42568.24 6539310 47 Zhong Guan Cun Securities Co. Ltd. 8381508.85 1462560.38 256861.29 6588160 48 Hua An Securities Co. Ltd. 8146067.52 3668493.1 982859.49 3146190 49 Tianhe Securities Co. Ltd. 8056170.63 2527976.33 792295.31 4270460 50 China International Financial Co. Ltd. 7948805.85 2186493.98 896291.41 4373330
List of 50 Member Institutes with the Largest Registered Capital in 2003 Rank Name Capital Registered (10 thousand yuan) 1 Haitong Securities Co. Ltd. 873444 2 China Galaxy Securities Co. Ltd. 450000 3 Shen Yin Wan Guo Securities Co. Ltd. 421576 4 Guo Tai Jun An Securities Co. Ltd. 370000 5 Southern Securities Co. Ltd. 345762 6 Huaxia Securities Co. Ltd. 270058 7 Everbright Securities Co. Ltd. 260000 8 Xiangcai Securities Co. Ltd. 251471 9 CITIC Securities Co. Ltd. 248150 10 Tiantong Securities Co. Ltd. 244800 11 China Merchant Securities Co. Ltd. 240028 12 Bohai Securities Co. Ltd. 231716
124 13 Huatai Securities Co. Ltd. 220000 14 Guoyuan Securities Co. Ltd. 203000 15 Guangdong Development Securities Co. Ltd. 200000 16 Changjiang Securities Co. Ltd. 200000 17 Guoxin Securities Co. Ltd. 200000 18 Hua An Securities Co. Ltd. 170500 19 Southwest Securities Co. Ltd. 163043 20 Zhong Guan Cun Securities Co. Ltd. 154004 21 Beijing Securities Co. Ltd. 151500 22 Dapeng Securities Co. Ltd. 150000 23 Shanghai Securities Co. Ltd. 150000 24 BOC International Securities Co. Ltd. 150000 25 Hongta Securities Co. Ltd. 138651 26 Minsheng Securities Co. Ltd. 128229 27 Taiyang Securities Co. Ltd. 120480 28 Datong Securities Co. Ltd. 111880 29 Guodu Securities Co. Ltd. 106966 30 China Science & Technology Securities Co. Ltd. 105617 31 Jianqiao Securities Co. Ltd. 105001 32 China National Securities Co. Ltd. 104846 33 Zhongyuan Securities Co. Ltd. 103379 34 Asia Securities Co. Ltd. 103290 35 Shanxi Securities Co. Ltd. 102500 36 Wuhan Securities Co. Ltd. 101472 37 Huaxi Securities Co. Ltd. 101311 38 Northeast Securities Co. Ltd. 101022 39 East Sea Securities Co. Ltd. 101000 40 Debang Securities Co. Ltd. 100800 41 Century Securities Co. Ltd. 100500 42 Tianyi Securities Co. Ltd. 100206 43 Eastern Securities Co. Ltd. 100000 44 Ping An Securities Co. Ltd. 100000 45 Guolian Securities Co. Ltd. 100000 46 United Securities Co. Ltd. 100000 47 Western Securities Co. Ltd. 100000 48 Huaxin Securities Co. Ltd. 100000 49 Dongwu Securities Co. Ltd. 100000 50 Northern Securities Co. Ltd. 100000
Top Ten !PO Underwriters in 2003 (ranked by the number of IPSs) Rank Underwriter Number of IPS 1 Southwest Securities 3 2 Galaxy Securities 1 3 Guoxin Securities 1 4 Southern Securities 1
125 5 Shanghai Securities 1 6 Minfa Securities 1 7 Beijing Securities 1 8 Shanxi Securities 1 9 United Securities 1 10 Jutian Securities 1 Note: Underwriters with the same number of underwriting cases are ranked by the size of capital raised.
Top Ten IPO Underwriters in 2003 (ranked by number of shares underwritten) Rank Underwriter Shares Underwritten (10 thousand) 1 Galaxy Securities 11197 2 Southwest Securities 9372 3 Guoxin Securities 8265 4 Southern Securities 4679 5 Beijing Securities 4345 6 Minfa Securities 2934 7 Shanghai Securities 2795 8 Shanxi Securities 2723 9 Great Wall Securities 2239 10 United Securities 1988
Top Ten IPO Underwriters in 2003 (ranked by value of financing) Rank Underwriter Value of financing(10 thousand yuan) 1 Southwest Securities 91290 2 Galaxy Securities 62482 3 Guoxin Securities 39426 4 Southern Securities 34742 5 Shanghai Securities 29869 6 Minfa Securities 23475 7 Beijing Securities 21812 8 Shanxi Securities 20135 9 United Securities 17855 10 Jutian Securities 12853
2003 Top Ten Underwriter of Right Issuance (ranked by number of underwriting) Rank Underwriter Number of underwriting 1 Southwest Securities 3 2 Galaxy Securities 1 3 Guoxin Securities 1 4 Southern Securities 1 5 Shanghai Securities 1 6 Minfa Securities 1 7 Beijing Securities 1 8 Shanxi Securities 1 9 United Securities 1
126 10 Jutian Securities 1 Note: Underwriters with the same number of underwriting cases are ranked by the size of capital raised.
2003 Underwriter Rundown of Right Issuance (ranked by number of shares underwritten) Rank Underwriter Shares Underwritten (10 thousand) 1 Galaxy Securities 11197 2 Southwest Securities 9372 3 Guoxin Securities 8265 4 Southern Securities 4679 5 Beijing Securities 4345 6 Minfa Securities 2934 7 Shanghai Securities 2795 8 Shanxi Securities 2723 9 Great Wall Securities 2239 10 United Securities 1988
2003 Underwriter Rundown of Right Issuance (ranked by amount of capital raised) Rank Underwriter Capital Raised (10 thousand yuan) 1 Southwest Securities 91290 2 Galaxy Securities 62482 3 Guoxin Securities 39426 4 Southern Securities 34742 5 Shanghai Securities 29869 6 Minfa Securities 23475 7 Beijing Securities 21812 8 Shanxi Securities 20135 9 United Securities 17855 10 Jutian Securities 12853
Historical Statistics Data
Historical Data on Trading Value
Year Yearly Trad Daily Daily Annual High Annual Low
127 Trading ing Average Average Trading Date Trading Date Value Days Trading Number Value Value (100 Value of (100 (100 million (100 Shares million million Yuan) million Traded Yuan) Yuan) Yuan) (100 million Shares) 1991 46.08 256 0.18 0.0002 2.01 19911231 0.008 19910517 1992 323.85 255 1.27 0.07 4.82 19921130 0.08 19920207 1993 2509.71 259 9.69 0.60 38.43 19931207 0.001 19930227 1994 5735.52 252 22.76 2.61 157.54 19940906 1.60 19940712 1995 3102.36 251 12.36 2.05 114.30 19950522 1.14 19950208 1996 9114.82 247 36.90 4.46 192.74 19961203 1.53 19960209 1997 13763.52 243 56.64 5.01 159.83 19970512 11.51 19971014 1998 12386.11 246 50.35 4.59 119.00 19980409 16.48 19981221 1999 16965.79 239 70.99 6.53 404.43 19990625 11.62 19990104 2000 31373.862 239 131.271 10.20 472.622 20000217 42.919 20000927 2001 22709.38 240 94.622 7.58 234.133 20011024 27.268 20011115 2002 16959.093 237 71.557 7.52 494.799 20020624 26.598 20021008 2003 20824.137 241 86.407 11.17 330.155 20030416 27.239 20030103
Record High of Trading Value
Quarterly Highest Rank Year/Quarter Value Traded (10 thousand Yuan) 1 2000-1 98218338.36 2 2001-2 87860517.21 3 2000-2 80167380.54 4 2000-3 74807788.82 5 1999-2 72014646.16 6 2003-2 71673704.01 7 1999-3 61648792.91 8 2000-4 60545108.72 9 1997-2 58949939.63 10 2003-4 58554289.98
128 Monthly Highest Rank Year/Month Value Traded (10 thousand yuan) 1 199906 48206566.38 2 200003 43011296.22 3 200304 36928380.24 4 200008 33396243.68 5 200002 33245371.33 6 200104 31638468.41 7 200006 30254776.06 8 200106 29511638.53 9 200312 29308482.38 10 200004 28838672.29
Daily Highest Rank Date Value Traded (10 thousand yuan) 1 2002-06-24 4947988.07 2 2000-02-17 4726217.11 3 1999-06-25 4044316.24 4 2002-06-25 3927672.08 5 2000-02-15 3492548.76 6 1999-06-30 3410903.89 7 2000-02-16 3400900.3 8 2003-04-16 3301548.44 9 2000-02-21 3261579.14 10 2000-02-29 3219600.79
129 10 Biggest Up/Down Record of SSE 180 Index
Rank Up（%） Date SSE Index Rank Down（%） Date SSE Index at Closing at Closing 1 9.941 2001-10-23 3252.329 1 -9.978 1996-12-16 2503.09 2 9.64 2002-6-24 3145.021 2 -9.424 1997-2-18 2443.012 3 9.287 2000-2-14 3611.194 3 -8.842 1996-12-17 2281.762 4 9.251 1996-12-18 2492.852 4 -8.305 1998-8-17 2686.767 5 8.367 1997-2-19 2647.419 5 -7.569 1997-5-22 3773.982 6 8.15 1996-9-23 2380.006 6 -7.512 1999-7-1 3907.15 7 7.82 1996-7-3 2109.453 7 -7.272 1997-5-8 4092.126 8 7.691 1999-7-20 3848.773 8 -7.134 1997-5-16 3786.586 9 7.636 1996-12-2 2779.052 9 -6.638 2002-1-28 2578.981 10 7.525 1997-9-24 3408.508 10 -6.572 1997-9-22 3349.676
Rank Up（points） Date SSE Index Rank Down Date SSE Index at Closing （points） at Closing 1 306.879 2000-2-14 3611.194 1 -320.921 1997-5-8 4092.126 2 294.076 2001-10-23 3252.329 2 -317.336 1999-7-1 3907.15 3 276.511 2002-6-24 3145.021 3 -309.057 1997-5-22 3773.982 4 274.874 1999-7-20 3848.773 4 -290.891 1997-5-16 3786.586 5 256.632 1999-9-9 3823.303 5 -277.444 1996-12-16 2503.09 6 241.905 1999-6-28 4077.613 6 -254.175 1997-2-18 2443.012 7 238.548 1997-9-24 3408.508 7 -244.165 1997-6-6 3985.372 8 218.251 1997-6-20 4055.35 8 -243.353 1998-8-17 2686.767 9 211.09 1996-12-18 2492.852 9 -235.638 1997-9-22 3349.676 10 204.407 1997-2-19 2647.419 10 -230.643 1997-5-14 3952.505
130 10 Biggest Volatility Record of SSE Composite Index
Rank Up（%） Date SSE Index Rank Down（%） Date SSE Index at Closing at Closing 1 105.269 1992-5-21 1266.49 1 -16.394 1995-5-23 750.3 2 33.457 1994-8-1 445.64 2 -13.076 1993-12-20 783.79 3 30.987 1995-5-18 763.51 3 -12.675 1994-8-9 621.58 4 29.904 1992-11-25 571.63 4 -11.751 1993-3-22 1036.92 5 21.371 1994-8-5 683.04 5 -11.177 1992-10-27 450.28 6 20.889 1994-8-3 522.98 6 -10.71 1994-10-5 706.42 7 18.981 1994-8-10 739.56 7 -10.636 1994-10-13 635.39 8 16.436 1993-6-2 1081.2 8 -10.46 1993-3-1 1199.73 9 15.522 1992-12-11 722.28 9 -10.443 1992-8-11 863.41 10 13.632 1992-11-30 724.6 10 -10.301 1993-5-24 1026.13
Rank Up（points） Date SSE Index Rank Down Date SSE Index at Closing （points） at Closing 1 649.5 1992-5-21 1266.49 1 -147.12 1995-5-23 750.3 2 180.62 1995-5-18 763.51 2 -140.15 1993-3-1 1199.73 3 152.62 1993-6-2 1081.2 3 -138.07 1993-3-22 1036.92 4 149.893 2001-10-23 1670.562 4 -128.641 1999-7-1 1560.787 5 145.4 1993-2-25 1410.36 5 -120.22 1992-5-26 1301.35 6 144.591 2002-6-24 1707.313 6 -119.659 1997-5-22 1235.223 7 138.946 2000-2-14 1673.943 7 -117.91 1993-12-20 783.79 8 136.25 1993-4-8 1235.87 8 -117.84 1993-5-24 1026.13 9 131.59 1992-11-25 571.63 9 -111.08 1993-5-4 1241.16 10 127.45 1992-7-24 1142.02 10 -110.016 1996-12-16 1000.022
131 Listing Statistics Year Number of Number of Capital Number of Market Capital Listings Securities Raised Shares Listed (100 million Listed (100 million (100 million Yuan) Yuan) Yuan) 1990 8 30 10.11 2.61 12.34 1991 8 46 0.24 2.72 29.43 1992 29 87 41.39 46.94 558.40 1993 106 190 93.47 235.54 2206.20 1994 171 259 150.82 418.88 2600.13 1995 188 258 58.16 560.66 2525.66 1996 293 368 202.22 749.86 5477.81 1997 383 467 474.60 975.37 9218.06 1998 438 526 377.15 1280.35 10625.90 1999 484 576 486.37 1580.15 14580.47 2000 572 657 914.32 2032.42 26930.86 2001 646 744 957.49 3164.44 27590.56 2002 715 826 614.30 3727.84 25363.72 2003 780 914 560.96 4170.39 29804.92
Chronicle of Events
1990 Nov. 26 Founding of Shanghai Stock Exchange Dec. 19 Shanghai Stock Exchange opened for business July 8 All stocks secured in Central Depository, which paved way for paperless trading 1991 Jul. 15 Publishing SSE Index 1992 Feb. 21 First B Share IPO-- Shanghai Vaccum Electronics Co. Ltd May 21 Derelgulate control on share price, free price bidding adopted Dec. 28 Trading and settlement system for T-bond futures get ready 1993 Apr. 26 Satallite data system put into use May 10 Registration company officially opened Dec. 15 T-bond re-purchase business launched Dec. 22 Dual way satallite data communication launched Dec. Complete transition to nation wide market 1994 Aug. 9 On-line bidding first used in Ha Shui Bao A share listing Oct. 24 Real time information disclosure regime adopted. 1995 Apr. 11 On-line set-pricing method first used in Yizhen Chemical Fiber A share
132 listing Apr. 19 A share Automatic Searching System launched May 18 T-bond futures suspended from trading 1996 May 18 Surveillance system put into use Jul. 1 SSE 30 Index publicized Sept. 24 Virtual trading seat becomes the dominant form in stock trading Sept. 28 SSE 30 Constituent stocks readjusted for the first time since compilation Dec. 16 A 10% daily stop-buying/stop-selling limit is imposed on share and fund trading 1997 Mar. 1 Information disclosure made compulsory in stock and fund trading Apr. Shanghai Securities Communications Co. Ltd founded Apr. 9 Requirement on Secretary of Board of Directors Attending Board Meeting implemented in listed companies Aug. 5 SSE put under direct supervision of the CSRC Dec. 9 SSE moved to Shanghai Securities Mansion 1998 Jan. 1 SSE Listing Rules officially went to effect Apr. 1 Interim Measures of Designated Stock Broking went into effect Apr. 22 SSE began to award Special Treatment penalty to companies in abnormal financial order Dec. 29 The 6th Meeting of the Ninth NPC Standing Committee approved the PRC Securities Law 1999 Mar. 3 Pilot project run in Shenzhen where investors can open accounts via securities firms June 1 Stamp tax for B share trading reduced from 4‰ to3‰ Jul. 1 The PRC Securities Law went into effect Jul. 2 SSE published Notice on Trading of Shares Suspended from the stock exchange. According to the Notice, stocks suspended from SSE are traded under special arrangement on Friday. Nov. 2 Jialing Motor became the first to conduct experiment on trading of state-owned shares Nov. 10 The first A share listing in the banking sector-Shanghai Pudong Development Bank went for public offering. Dec. 6 ShenNeng Energy's proposal to buy back its state owned legal person shares approved by the CSRC Dec. 18 Ground Breaking for SSE satillite gound station Dec. 25 The National Peoples Congress approved new amendment on the PRC Company Law and PRC Criminal Law 2000 Feb. 13 The CSRC issued Notice on Placing New Shares in the Secondary Market, a
133 move widely seen by the market as a step forward in share issuing method Feb. 23 Hong Qiao Airport issued convertible bond, the first time in China Mar. 14 CSRC decided to allow transferred shares to trade in the stock exchange starting from April according to the time table set by the authority. June 17 SSE revoked stop-selling limit on PT shares, maintaining 5% daily stop-buying limit Jul. 6 The number of listed companies in Shanghai and Shenzhen Stock Exchange increased to over 1000, making China No. 10 in global markets in terms of number of listed companies Nov. 2 SSE published Guideline on Corporate Governance of Listed Companies Dec. 12 Bao Steel, China's largest steel maker was listed at SSE 2001 Feb. 20 After approval by the State Council, the CSRC decided to allow Chinese citizens domiciled in Mainland China to open investor accounts in B share trading Mar. 31 China Securities Clearing & Settlement Company founded in Beijing, with two branch offices in Shanghai and Shenzhen. Apr. 24 PTNarcissus delisted from SSE, marking the first delisting since SSE founding. As a result, the number of listed companies at SSE reduced from 608 to 607 June 8 New listing rules adopted by the SSE June 14 SSE Composite Index lifted to the historical new high of 2245.43 June 22 China Petrochemical issued listing prospectus, which intended to issue a record high of 2.8 billion shares, the highest in A share listing Aug. 17 China's first open-ended fund--Hua An Innovations approved by CSRC Nov. 16 Stamp tax for A share and B share reduced to 2‰ 2002 Jan. 10 The CSRC and State Economic & Trade Commission jointly released the Code of Corporate Governance on Listed Companies Jan. 15 The Supereme People’s Court issued Notice on Accepting Civil Litigation Cases Relating to False Information Disclosure of Securities, which mark the beginning of civil litigation of securities trading in China. Feb. 25 Shanghai Stock Exchange and Shenzhen Stock Exchange completed revision of chapter 10 of the Listing Rule on suspension, resumption of listing and permanent delisting Apr. 5 The CSRC, State Planning Commission, State Taxation Bureau jointly issued Notice on Readjusting Commission Standard of Securities Tradin, which put into place a floating trading commission regime in force on may 1. June 4 The CSRC promulgated Rules on Foreign Equity Particpation in Chinese
134 Securities Companies and Rules on Establishment of Fund Management Companies with Foreign Equity Participation, which marked an important milestone in opening China’s capital market. June 25 The State Council decided to suspend selling state-owned equity in domestic securities market. July 1 SSE officially launched SSE 180 Index in substitute of SSE 30 Index. Oct. 7 The International Feberation of Stock Exchanges officially accepted Shanghai Stock Exchange and Shenzhen Stock Exchange as full members in its 42nd annual conference. Oct. 17 China’s first joint venture fund management company—Guo An Fund Management, partnered between Guo Tai Jun An Securities and the German Allianz Group was approved by the CSRC. Oct. 23 China’s first purely open-end bond fund—Hua Xia Bond Investment Fund announed its inception. Nov. 8 The CSRC announced QFII regime will come into force on Dec. 1, this officially marks the opening of Chinese securities market to qualified foreign institutional investors. Dec. 13 CITIC Securities went for public offering, which made it the first publicly listed securities company. Dec. 19 SSE launched it new web site. Dec. 28 Shang Fu Ling succeded Zhou Xiao Chuan as Chairman of the CSRC, Zhou Xiao Chuan was appointed as Governor of the People’s Bank of China.
135 Activities in World Stock Exchanges in 2003
Name of Annual Index Close Companies Total market Total Turnover Stock Listed Capital（million (million US Exchange Local Foreign US dollars） dollars)
New York 10453.9(Dow Jones Average) 1842 466 11328953.1 9692341.2 NASDAQ 2003.3(Composite) 2951 343 2844192.6 7068213.2 Toronto 8220.8(Composite) 3578 38 910230.6 474949.6 London 4476.8(FTSE100) 2311 381 2425822.0 3624009.4 Euronext 608.97(Euronext100) 1047 345 2076410.2 1905398.4 Germany 3965.1(DAX) 684 182 1079026.2 1304987.3 Australia 3306.0(All Ordinaries) 1405 66 585529.7 375264.4 Tokyo 10676.6(Nikkei225) 2174 32 2953098.3 2130710.5 Singapore 1764.5(Straits Times) 475 76 148502.6 92004.8 South Korea 810.7(Composite) 684 0 298248.1 459191.4 Kuala Lumper 793.9(Composite) 897 4 168376.2 52233.4 Thailand 772.1(SET) 418 0 119017.2 105064.6 Hong Kong 12575.9( Hengsheng Index) 1027 10 714597.3 296406.5 Taiwan 5890.6(Taibei Weighted) 669 5 379022.9 592534.2
136 Indices of Stock Exchanges Worldwide from 1997-2003(annual or monthly closes) Year/ New York NASDAQ Toronto London Euronext Germany Australia Month Dow Jones Composite Composite FTSE 100 100 DAX All Ordinaries Average 1997 7908.25 1570.35 6699.44 5135.50 NA 3383.21 2616.50 1998 9181.43 2192.69 6485.94 5882.60 NA 3933.96 2813.40 1999 11484.66 4069.31 8413.75 6930.20 NA 5409.33 3152.50 2000 10803.16 2470.52 8933.88 6222.50 NA 4934.85 3154.70 2001 10021.50 1950.40 7688.41 5217.40 NA 3887.48 3359.90 2002 8341.63 1335.51 6614.54 3940.36 540.27 2147.78 2975.50 2003 10453.92 2003.37 8220.89 4476.87 608.97 3965.16 3306.00 2003 Jan. 8053.81 1320.91 6569.49 3567.41 513.75 2747.83 2935.40 Feb. 7891.08 1337.52 6555.12 3655.58 479.67 2547.05 2778.40 Mar. 7992.13 1341.17 6343.29 3613.30 460.05 2423.87 2848.60 Apr. 8480.09 1463.31 6586.07 3926.00 510.42 2942.04 2970.90 May 8850.26 1595.91 6859.80 4048.10 518.29 2982.68 2979.80 June 8985.44 1622.80 6983.14 4031.20 530.21 3220.58 2999.70 July 9233.80 1735.02 7257.92 4157.02 554.62 3487.86 3106.70 Aug. 9415.82 1810.53 7510.32 4161.06 573.16 3484.58 3202.90 Sept. 9275.06 1786.94 7421.13 4091.30 545.52 3256.78 3176.20 Oct. 9801.12 1932.21 7772.70 4287.60 582.01 3655.99 3282.40 Nov. 9782.46 1960.26 7859.39 4342.60 589.35 3745.95 3195.70 Dec. 10453.92 2003.37 8220.89 4476.87 608.97 3965.16 3306.00
Year/ Tokyo Singapore Korea Kuala Thailand Hong Taiwan Month Nikkei 225 Straits Composite Lumper SET Kong Taibei Times Composite All Weighted Ordinaries 1997 15258.74 1529.84 376.31 594.44 372.69 10722.80 8187.27 1998 13842.17 1392.73 562.46 586.13 355.81 10048.58 6418.43 1999 18810.58 2472.69 1028.07 812.23 481.92 16962.10 8448.84 2000 13981.49 1892.60 504.62 679.64 269.19 15095.53 4743.09 2001 10542.62 1623.60 693.70 696.09 303.85 11397.21 5551.24 2002 8578.95 1341.07 627.55 646.32 356.48 9321.29 4452.45 2003 10676.64 1764.52 810.71 793.94 772.15 12575.94 5890.69 2003 Jan. 8339.94 1291.61 591.86 664.77 370.01 9258.95 5015.16
137 Feb. 8363.04 1273.85 575.43 646.80 361.32 9122.66 4432.46 Mar. 7972.71 1267.82 535.70 635.72 364.55 8634.45 4321.22 Apr. 7831.42 1281.33 599.35 630.37 374.63 8717.22 4148.07 May 8424.51 1349.00 633.42 671.46 403.82 9487.38 4555.90 June 9083.11 1447.89 669.93 691.96 461.82 9577.12 4872.15 July 9563.21 1558.87 713.52 720.56 484.11 10134.83 5318.34 Aug. 10343.55 1599.25 759.47 743.30 537.71 10908.99 5650.83 Sept. 10219.05 1630.80 697.52 733.45 578.98 11229.87 5611.41 Oct. 10559.59 1723.71 782.36 817.12 639.45 12190.10 6045.12 Nov. 10100.57 1714.00 797.07 779.28 646.03 12317.47 5771.77 Dec. 10676.64 1764.52 810.71 793.94 772.15 12575.94 5890.69
138 Major Publications
Listed Companies SSE Research SSE Statistical Monthly SSE 180 Index Quarterly Shanghai Securities Yearbook SSE Annual Report SSE Statistical Yearbook SSE Fact Book China Corporate Governance Report（2003） Empirical Research on Success and Failure of Chinese Listed Companies
139