普华永道——DTR FDD-14.6.01-1-presentation.pptVIP

PricewaterhouseCoopers pwc PricewaterhouseCoopers FDD Handout Zhejiang Expressway Co., Ltd. PricewaterhouseCoopers Status at a glance Zhejiang Expressway Co., Ltd is quoted on the Hong Kong Stock Exchange and London Stock Exchange with market capitalization of US$ 1 billion. The company has a further listing on the DAX March 2001. It is the only SOE in the province to obtain listings in Hong Kong, London and Berlin. The company employs 1,368 persons. The company’s principal activities are investing in , constructing and managing toll roads. Toll income accounted for 97% of 2000 revenues. China’s WTO accession is expected to produce opportunities for the company. Zhejiang province is well positioned to benefit from these opportunities, one of which is that traffic volume on the strategically situated Shanghai-Hangzhou-Ningbo Expressway is expected to grow rapidly. The company’s advisers include Bankers: Bank of China, Industrial Commercial Bank of China Auditor: Ernst Young Lawyers: Herbert Smith, TC Law Firm Partner suitability In the 2000 Reuters Survey of Global Emerging Markets, the Company was ranked second by brokerage analysts in transparency and quality of reporting and disclosure among listed companies in the Emerging Markets in Asia. The companys enterprise system and outstanding achievements is highly praised by German BSM SECURITIES LTD, who assisted with the DAX listing. The Company is trading at 0.98 times book value. This means that theoretically, the net value of the assets is greater than the value of a company as a going concern. The Company has a large cash balance: in 2000, the company had US$ 140 million in sales, but its cash and short term investments as of December 2000 were US$ 250 million, or 1.8 times the annual sales. A high proportion of the shares are in private, generally untraded hands. Zhejiang Expressway Co., Ltd. PricewaterhouseCoopers Summary profitability and cash flow Summary balance sheet Rmb million 企业经营管理资料案例库 专业服