I.

II.

1.
2.
3.

/ /

4.

5.
6.
III.

,
, .

.
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. ,
, .
,
.
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, .

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1.

2. / +
/
.

.
/1 + 2/

1023703
.
.
631580

18-

2002
2587693.
0
1389907.
8
7004.9

2003
2004
2984884.2 4070493.6
5
1882646.5 1949557.9
41340.0

2005
6065128.4
3
4092918.7

2006
7151471.4
6
2870385.1
102673.3
2146464.2
43239.1
578008.5

8374.7

770880.9
25678.4
586343.7

1335141.9 1350408.1
18104.6
506164.7 572670.5

814690.9
797395.5
1944717.7
536114.6

1197785.
2
1194315.
9

1102237.7 2120935.7

1972209.8

4281086.3

1097280.8 2078666.2

1922802.7

4227779.6

898918.9
-114120.4
581920.7
-200773.2
48943.7
-20573.7

869241.7
-129323.1
567711.0
-238275.2
52745.7
-24819.1

2533769.8
-640103.2

5162876.2
-977190.5

62959.1
-33822.9
49407.0

81409.4
-39315.5
53306.7

6065128.5

7151471.5

847249.9
-158348.0
1681170.0
-315723.2
53033.8
-28716.2

3469.3

4956.8

42269.5

3469.3

3469.3
1487.5

3469.3
38800.2

2587693.
0

2984884.2 4070493.6

1. / + /
.





-

2. / ++ /
.

. //



1.



2.

3. (1-2)
4.
,

806600.3
806600.3
336682.7

4587191.9
4587191.9
2678465.7

6311218.7
6311218.7
2363397.8

6207.5
16141.2
145089.0
194499.5
78967.9

1304399.5 2500759.6
1304399.5 2500759.6
872148.9 2106884.0
108911.7
3221.5
21682.5
17373.5
157384.7 91588.7
144722.7 97774.4
78642.5
78193.0

13637.0
260521.3
56449.2
77999.4
1500000.0

11371.2
17641.3

8955.4
17641.3

34.4

119.4

17018.2
2945.7
36459.9
115087.3
3759149.5
17041.0
119.4

0.0

0.0

0.0

0.0

0.0

1781092.
7
0.0

1680484.7 1569734.0

1477936.5

840252.7

0.0

102370.3

102371.3

102370.3
1533270.5

102371.3
1533271.5

1533270. 1533270.5 1533270.5

5
145451.9 44843.9
-65906.8
-585179.7 100608.04 140833.66
730631.5 145451.9 74926.9

1533270.5

1533271.5

-157704.3
-91797.6

-795390.1
-157704.38

-65906.7

-637685.7

2002
3485906.9
3492329.6
2714.3
3708.5
3348193.4

2003
2896140.4
2922962.6
8368.6
18453.6
2777817.7

2004
3487339.3
3535558.4
5807.4
42411.7
3360221.9

2005
3964884.9
4007814.8
10138.3
32791.6
3866970.7

2006
4329524.9
4379776.8
11490.1
38761.8
4269405.6

137713.5
109663.3
30084.4
5105.0

118322.7
110179.5
32477.4
7906.3

127117.4
128776.8
42461.8
8565.0

97914.2
102452.8
39049.1
7925.8

60119.3
498431.0
41740.1
9625.2

1635640.
8
102370.3

0.0

1635640.8 1635640.8
102370.3

102370.3

5.

() (3-4)
6.

7.

8.
()
(5+6-7)
9.
10.

11.
(8+9+10)
12.
13.
()
(11-12)

21721.8

760.0
10483.6
37924.0

1828.7
1353.0
7352.5
4345.0
47888.4

10322.1

8480.0

1858.2

673.9
13611.1

14.7
5610.9

538.0
5746.3

48067.6

40237.1

39839.2

605.9

171.2
2274.5

564.5

621.8

25192.9

2978.7
28050.2

4582.4
8143.3

4510.7
-1659.3

513.4
-4538.6

373891.1
-438311.6

17993.3
66.7

22601.0
544.9

24608.8
141.0

0.0

0.0

5.4

3.4

17921.2
627015.6

22052.8
130130.8
24228.0

86405.0
11554.2

199374.1
453.0

45844.5

24467.8
163783.1
13265.3

-52208.9

51.0

21.9

820.3

581120.1
-580972.1

105880.9
-99386.5

150517.9
-140833.7

74850.8
-90943.6

-148438.6
-637685.7

0.0
0.0

0.0
0.0

0.0
0.0

0.0
0.0

0.0
0.0

-580972.1

-99386.5

-140833.7

-90943.6

-637685.7

4207.5
-585179.7

1221.5
-100608.0

-140833.7

854.0
-91797.6

-637685.7

2002
1023703

2003
1023703

2004
1023703

2005
1023703

2006
1023703

0.00
0.00
-171.49

0.00
0.00
-29.48

0.00
0.00
-41.27

51.00
-56.87
17.74
-26.90

52.00
-8.35
10.65
-186.88

//
//
//
//
//
//





5.21

/ROE/
/ROA/

1740
325459
137
250
800
50

1641.57
4476
187
150
549
150

1533.39
4476
187
150
549
150

1443.72
10682
288
300
400
50

820.80
20539
488
830
830
251

2002

2003

2004

2005

2006

0.69
0.33
0.45

0.56
0.34
0.78

0.39
-0.35
1.59

0.24
-0.33
3.1

0.12
-4.09
7.51

0.31
0.00
0.00

0.44
0.00
0.00

0.61
0.00
0.00

0.76
0.00
0.00

0.88
0.00
0.00

1.72
0.96

1.44
1.06

0.78
0.54

0.89
0.00

0.45
0.00

4.53
79.46
5.71
63.04
2.53
142.54
1.36
85.18

2.19
164.44
5.49
65.6
1.56
230.09
0.99
169.93

2.62
137.50
5.87
61.35
1.83
197.14
0.87
143.37

5.03
71.63
7.21
49.91
0.98
367.64
0.66
78.84

2.04
176.43
7.39
48.74
1.53
235.93
0.61
183.82

2.94
1.97

2.68
1.75

1.71
2.27

2.08
2.71

1.04
2.71

0.04
1.04

0.04
1.05

0.04
1.05

0.02
1.04

0.01
1.03

-0.23
-0.33

-0.03
-0.06

-0.03
-0.09

-0.02
-0.06

-0.09
-0.76

-0.3286

-0.0599

-0.0897

-0.0621

-0.7589

-0.23
-571.63

-0.03
-98.28

-0.03
-137.57

-0.02
-89.67

-0.09
-622.92

.
/ /
X1= /

X2=
/

X3= /

X4= /
X5=
/

-4.16

-0.53

-0.74

-0.31

-1.28

-1.76

-11.98

-0.44
0.14

-1.53
0.09

-1.09
0.10

-3.35
0.21

-1.33
1.01

-0.53
2.283

-0.05
1.896

-0.09
0.946

-0.05
0.670

-0.58
-0.335

0.225

0.194

-0.135

-0.081

-0.481

0.056

0.015

-0.016

-0.026

-0.111

-0.225

-0.033

-0.035

-0.015

-0.089

2.208
1.350

1.288
0.979

0.628
0.869

0.322
0.661

0.133
0.612

1.

.
, ( ) ,
.


.
1.1 Y

2005

2006

. / 1 +2 /
1.

2.

/ + /
.




.
.

/1 +
2/
1. / + /
.



-

6065128.43
4092918.7
814690.9

7151471.46
2870385.1
102673.3

1086343.03
-1222533.6
-712017.6

15.2%
-42.6%
-693.5%

797395.5
1944717.7

2146464.2
43239.1

1349068.7
-1901478.6

62.9%
-4397.6%

536114.6
1972209.8

578008.5
4281086.3

41893.9
2308876.5

7.2%
53.9%

1922802.7
2533769.8
-640103.2
62959.1
-33822.9
49407
6065128.5

4227779.6
5162876.2
-977190.5
81409.4
-39315.5
53306.7
7151471.5

2304976.9
2629106.4
-337087.3
18450.3
-5492.6
3899.7
1086343

54.5%
50.9%
34.5%
22.7%
14.0%
7.3%
15.2%

4587191.9
4587191.9
2678465.7
13637
260521.3
56449.2

6311218.7
6311218.7
2363397.8
17018.2
2945.7
36459.9

1724026.8
1724026.8
-315067.9
3381.2
-257575.6
-19989.3

27.3%
27.3%
-13.3%
19.9%
-8744.1%
-54.8%

77999.4

115087.3

37087.9

32.2%

1500000

3759149.5

2259149.5

60.1%

2. /
++ /
.

.


.
//

119.4
1477936.5

119.4
840252.7

0
-637683.8

0.0%
-75.9%

102370.3
102370.3
1533270.5
1533270.5

102371.3
102371.3
1533271.5
1533271.5

1
1
1
1

0.001%
0.001%
0.00007%
0.00007%

-157704.3

-795390.1

-637685.8

-80.2%

-91797.6
-65906.7

-157704.38
-637685.7

-65906.78
-571779

41.8%
89.7%

:
15,2%- .
42,6%-
53,9% .
42,6%-
.
75,9%- 27,3%-
. -80,2% -
.
.
.
27,3%-
. 2
.
315067,9 13,3
.
.

1.2

1.

2005
3964884.9
4007814.8
10138.3
32791.6

2006

4329524.9
4379776.8
11490.1
38761.8

364640
371962
1351.8
5970.2

8.4%
8.5%
11.8%
15.4%

2.

3. (1-2)
4.

5.
() (3-4)
7.

8.
() /5+6-7/
11.
(8+9+10)
13.
() /11-12/

3866970.7

4269405.6

402434.9

9.4%

97914.2
102452.8

60119.3
498431

-37794.9
395978.2

-62.9%
79.4%

39049.1
7925.8
8480

41740.1
9625.2
1858.2

2691
1699.4
-6621.8

6.4%
17.7%
-356.4%

14.7
5610.9

538
5746.3

523.3
135.4

97.3%
2.4%

40237.1
621.8

39839.2
25192.9

-397.9
24571.1

-1.0%
97.5%

513.4
-4538.6

373891.1
-438311.6

373377.7
-433773

99.9%
99.0%

86405

199374.1

112969.1

56.7%

11554.2

453

-11101.2

-2450.6%

74850.8
-90943.6

-148438.6
-637685.7

-223289.4
-546742.1

150.4%
85.7%

-90943.6

-637685.7

-546742.1

85.7%

-91797.6

-637685.7

-545888.1

85.6%

:
2006
.
..
110%-
. 37794,9 62,9

2.
, ( ) .
.
1.
, .
2.
. .
2.1 Y

2004

2005

2006

2004
2005
2006
. / 1 +2 /
4070493.7 6065128.43 7151471.46 100%
100%
100%
1.
1949557.9 4092918.7 2870385.1 47.9%
67.5%
40.1%

1350408.1 797395.5
2146464.2 33.2%
13.1%
30.0%

18104.6
1944717.7 43239.1
0.4%
32.1%
0.6%

572670.5 536114.6
578008.5
14.1%
8.8%
8.1%
2. 2120935.7 1972209.8 4281086.3 52.1%
32.5%
59.9%
/ + /
.
2078666.2 1922802.7 4227779.6 51.1%
31.7%
59.1%

847249.9 2533769.8 5162876.2 20.8%
41.8%
72.2%

-158348
-640103.2
-977190.5
-3.9%
-10.6%
-13.7%
.
42269.5
49407
53306.7
1.0%
0.8%
0.7%
.

4070493.6 6065128.5 7151471.5 100%

100%
100%
/1 +
2/
1. / + /
2500759.6 4587191.9 6311218.7 61.4%
75.6%
88.3%
.
2500759.6 4587191.9 6311218.7 61.4%
75.6%
88.3%

2106884
2678465.7 2363397.8 51.8%
44.2%
33.0%

17373.5
13637
17018.2
0.4%
0.2%
0.2%

91588.7
260521.3
2945.7
2.3%
4.3%
0.0%

2. /
++ /
.


.
//

97774.4

56449.2

36459.9

2.4%

0.9%

0.5%

78193

77999.4

115087.3

1.9%

1.3%

1.6%

34.4
1569734

119.4
1477936.5

119.4
840252.7

0.0%
38.6%

0.0%
24.4%

0.0%
11.7%

1635640.8 1533270.5
1533270.5 1533270.5

1533271.5
1533271.5

40.2%
37.7%

25.3%
25.3%

21.4%
21.4%

-65906.8

-795390.1

-1.6%

-2.6%

-11.1%

-157704.38

-3.5%

-1.5%

-2.2%

-637685.7

1.8%

-1.1%

-8.9%

-157704.3

-91797.6
140833.66
74926.9
-65906.7

2.2

1.



2.

3. (1-2)

2004

2005

2006

2004

2005

2006

3487339.3
3535558.4
5807.4
42411.7
3360221.9

3964884.9
4007814.8
10138.3
32791.6
3866970.7

4329524.9
4379776.8
11490.1
38761.8
4269405.6

100%
101.38%
0.17%
1.22%
96.35%

100%
101.08%
0.26%
0.83%
97.53%

100%
101.16%
0.27%
0.90%
98.61%

127117.4

97914.2

60119.3

3.65%

2.47%

1.39%

4.

5.
() (3-4)
7.

8.
() /5+6-7/
11.

(8+9+10)
13.
() /11-12/

128776.8

102452.8

498431

3.69%

2.58%

11.51%

42461.8
8565
10322.1
673.9
13611.1
48067.6
564.5
4510.7
-1659.3

39049.1
7925.8
8480
14.7
5610.9
40237.1
621.8
513.4
-4538.6

41740.1
9625.2
1858.2
538
5746.3
39839.2
25192.9
373891.1
-438311.6

1.22%
0.25%
0.30%
0.02%
0.39%
1.38%
0.02%
0.13%
-0.05%

0.98%
0.20%
0.21%
0.00%
0.14%
1.01%
0.02%
0.01%
-0.11%

0.96%
0.22%
0.04%
0.01%
0.13%
0.92%
0.58%
8.64%
-10.12%

163783.1

86405

199374.1

4.70%

2.18%

4.60%

150517.9
-140833.7

74850.8
-90943.6

-148438.6
-637685.7

4.32%
-4.04%

1.89%
-2.29%

-3.43%
-14.73%

-140833.7

-90943.6

-637685.7

-4.04%

-2.29%

-14.73%

-140833.7

-91797.6

-637685.7

-4.04%

-2.32%

-14.73%

:
2006
. .
2004 38,6 2005 24,4 2006 11,7
. 2006 8,5 .
90
.
. .

3.

.
.
.
.
:

,
.
.

.
.

.
. . :
3. 1

.
. ,
. . :

3.1.1 ()

: - :

/ 2002 / 1389907.8 806600.3 583307.5

/ 2003 / 1882646.5 1304399.5 578247
/ 2004 / 1949557.9 2500759.6 551201.7
/ 2005 / 4092918.7 4587191.9 494273.2
/ 2006 / 2870385.1 6311218.7 3440833.6

2002
583307.5

2003
578247

2004
-551201.7

2005
-494273.2

2006
-3440833.6

:
,
3 .
.
.
, .
.
- .
2002
2003
2004
2005
2006

583307
0.167 16.7%
3492329.6
578247
0.2 20%
2922962.6
- 551201.7
- 0.156 15.6%
3535558.4
- 494273.2
0.123 - 12.3%
4007814.8
- 3440833.6
- 0.78 - 78%
4379776.8

3.1.2 ()
.

1389907.8
2002
1.72
806600.3
1882646.5
2003
1.44
1304399.5

1949557.9
0.78
2500759.6
4092918.7
2005
0.9
4587191.9
2870385.1
2006
0.45
6311218.7
2002

1,72
2004

2003
1,44

2004
0,78

2005
0,9

2006
0,45

8
7
6
5
4
3
2

1
0
2002

2003

2004

2005

2006

:

.
. - 2002
.

.
.
100% ,
.

2002
2003
2004
2005
2006

1
100% 41.86%
1.72
1

1
100% 30.5%
1.44
1

1
100% 28.2%
0.78
1

1
100% 11.1%
0.9
1

1
1005 122%
0.45

:
2003 30,5%-
. 3 .
3.1.3
.
.
,
. .

2002

1389907.8 586343.7
0.99
806600.3

1882646.5 506164.7
1.05
1304399.5
1949557.9 572670.5
2004
0.55
2500759.6
4092918.7 536114.6
2005
0.77
4587191.9
2870385.1 578008.5
2006
0.36
6311218.7
2003

:
. 2003
.
. .
3.1.4
.
.
= -

- :

/ 2002 / 1389907.8 586343.7 803564.1

/ 2003 / 1882646,5 506164,7 1376481,8
/ 2004 / 1949557,9 572670,5 1376887,4
/ 2005 / 4092918,7 536114,6 3556804,1
/ 2006 / 2870385,1 578008,5 2292376,6

:
5 .
.
.
3.1.5
. 0,2-
.
.

2002

7004,9
0,0087
806600,3

41340
0,03
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8374,7
2004
0,003
2500759,6

2003

:
.
. 2005 2006 .
3.2

,
.
.
3.2.1
. .

.
- :

2002

3492329,6
2,5
1389907,8

2003

2922962,6
1,55
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2004

3535558,4
1,8
1949557,9

2005

4007814,8
0,99
4042918,7

2006

4379776,8
1,53
2870385,1

2002

360
144
2,5

2003

360
232,2
1,55

2004

360
200
1,8

360-

360
2005
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2006

360
235,3
1,53

:
2002 2006 . 5
1,67 . .
.

3.2.2 ()
.

3348193.4
5,7
586343.7
2777817.7
2003
5.5
506164.7
3360221.9
2004
5.87
572670.5
3866970.7
2005
7.2
536114.6
4269405.6
2006
7.4
578008.5
2002

. 2006
7,4 .

.
() ()- . 360 ( )-
.

360

:
360
63.16
5.7
360
2003
65.5
5.5
360
2004
61.3
5.87
360
2005
50
7.2
360
2006
48.6
7.4
:
2002

-
.
2002

63.16

2003
65.5

2004
61.3

2005
50

2006
48.6

//
70
60
50
40
30
20

10
0
2002

2003

2004

2005

2006

.
3.2.3

.

360

2002

770880.9
360 79.5
3492329.6

1335141.9
360 164
2922962.6
1350408.1
2004
360 137.5
3535558.4
797395.5
2005
360 71.6
4007814.8
2146464.2
2006
360 176.4
4379776.8
:
2003

. . 2006
.
. .
3.2.4

.
:

2002

3348193,4
4,15
806600,3

2003

2777817,7
2,1
1304399,5

2004

3360221,9
1,3
2500759,6

2005

3866970,7
0,84
4587191,9

4269405,6
2006
0,68
6311218,7

. 360-
.
:

360
86.7
4.15
360
2003
171.4
2.1
360
2004
276.9
1.3
360
2005
428.5
0.84
360
2006
529.4
0.68

2002

:
2002-2006 .
. .
.
3.2.5
.
.

:
2002

3492329.6
2.9
1194315.9

2922962.6
2.7
1097280.8
3535558.4
2004
1.7
2078666.2
4007814.8
2005
2
1922802.7
4379776.8
2006
1.03
4227779.6
:
2003

.
.
.
3.2.6 ()
.
.

:
3492329.6
1.35
2587693.0
2922962.6
2003
0.98
2984884.2
3535558.4
2004
0.87
4070493.65
4007814.8
2005
0.66
6065128.43
4379776.8
2006
0.6
7151471.46
2002

3.2.7 / /
. 0,5
.

.
:
2002

20573,7
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1194315,9

2003

24819,1
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1097280,8

2004

28716,2
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2078666,2

2004 .
. 2005, 2006

2002

2003

2004

2005

2006

5.7

5.5

5.87

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2.5

1.55

1.8

0.99

1.53

1.35

0.98

0.87

0.66

0.6

2.9

2.7

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8
7

6
5
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0
2002

2003

2004

2005

2006

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.

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.
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1.

2.

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. , ,
.
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.
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1.
2. .
3.3.1 ()

.

:
806600.3
2002
0.31 31%
2587693
1304399.5
2003
0.44 44%
2984884.2
2500759.6
2004
0.61 61%
4070493.65
4587191.9
2005
0.76 76%
6065128.43

2006

6311218.7
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7151471.46

:
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. 2006 88% . :

2002
31%

2003
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2004
61%

2005
76%

2003
88%

3.3.2 ()
.

2002-2006 .

3.3.3 ()
.
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:
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17993.3 760
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2003
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2005

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.
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3.4
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.
.
ROS

ROS 2002

- 585179.7
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3492329.6

ROS 2003

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2922962.6

ROS 2004

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3535558.4

ROS 2005

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4007814.8

ROS 2006

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4379776.8

:

.
3.4.2 (ROI)
.
. .
ROI

:
- 585179.7
ROI 2002
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2587693
- 100608
ROI 2003
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2984884.2
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ROI 2004
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4070493.65
- 91797.6
ROI 2005
0.015 1.5%
6065128.43
- 637685.7
ROI 2006
0.09 9%
7151471.46

2002
-23%

2003
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2004
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2005
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2003
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. 2002-2006
.
3.4.3 (ROE) / /
.
.
ROE

- 585179.7
0.33 33%
1781092.7
- 100608
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1680484.7
- 140833.7
ROE2004
0.09 9%
1569734
- 91797.6
ROE2005
0.062 6.2%
1477936.5
- 637685.7
ROE2006
0.76 76%
840252.7
ROE2002

2002
-33%

2003
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2004
-9%

2005
-0,062%

2003
-76%

6
.
3.4.7 (EPS)
.
.
EPS

= - .
:
- 585179.7 - 0
EPS 2002
0.57
1023703
- 100608
EPS 2003
0.1
1023703
- 140833.7
EPS 2004
0.14
1023703
- 91797.6
EPS 2005
0.09
1023703
- 637685.7
EPS 2006
0.62
1023703
2002
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2003
-0.1

2004
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2005
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2003
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:
.

. .
EPS- .
3.4.5
.
.

51
2005
1,9
- 26,9
2006

52
0,28
- 186,88

3.4.6 (P/E)

. .
, .
P E

137
0.8
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187
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6.3
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187
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4.5
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288
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10.7
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488
E 2006
2.6
- 186.88

P E 2002
P
P
P
P

2002
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2003
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2004
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2003
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:
2006 488 .
.
.
4.
,
.
.
.
.
.
4.1

.

.
: /
2002

1781092,7
0,69
2587693

2003

1680484,7
0,56
2984884,2

2004

1569734
0,39
4070493,6

2005

1477936,5
0,24
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2006

840252,7
0,12
7151471,5

.
.
4.2
.
.
= +
:
2002

1781092,7 0 - 1194315,9
0,33
1781092,7

2003

1680484,7 0 - 1097280,8
0,35
1680484,7

1569734 0 - 2078666,2
2004
0,32
1569734
2005

1477936,5 0 1922802,7
0,3
1477936,5

2006

840252,7 0 - 4227779,6
4
840252,7

4.3
.
.
2002

806600,3
0,45
1781092,7

2003

1304399,5
0,77
1680484,7

2004

2500759,6
1,6
1569734

2005

4587191,9
3,1
1477936,5

2006

6311218,7
7,5
840252,7

4.4

. .
2002

806600,3
0,31
2587693

1304399,5
2003
0,44
2984884,2
2004

2500759,6
0,61
4070493,6

2005

4587191,9
0,75
6065128,5

2006

6311218,7
0,88
7151471,5

5.

.
:
1. Du Pont
2. .
4.1 Du Pont
Du Pont ROI, ,

Du Pont .
, , .
.

- . -
. . -
. - ROI .

ROI

Du Pont .

ROI

/2006/
ROI 14.5% 0.61 8.845% .
- . ROI ROE- .
ROE

Du Pont .
ROE

ROI- ROE- /
.

1
1

1 1

ROE 1 1
ROE

1 1

Du Pont
.

Du Pont . 2006
1

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Du

Pont

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/
7151471,46

0.6

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840252,7

840252,7

6311218,7

1086,3

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7779,6

4379776,8

4379776,8

0385,1

056,9

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Pont

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90 .
.

2002
100%
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2003
100%
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2004
100%
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2005
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2004
100%
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2002 2006 98,6%- . .

- . - .

5.2
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1.
2.
3.
4. .

2002
2003

583307,5

1,72

0,99

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2,5
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144
//

5,7
,

63,16

79

2006

2004

2005

578247

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0,78

0,9

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1,05

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0,03

0,003

1,55

1,8

0,99

1,53

1.674

232

200

360

235

234.2

5,5

5,87

7,2

7,4

6.334

65,5

61,3

50

48,6

57.7

164

137

72

180

126.4

4,53

4,15

87

1,35

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,

0,93

24,7

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2,2

2,62

3.27

2,1

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0,84

0,68

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171

277

429

529

298.6

0,98

0,87

0,66

0,6

0.892

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0.034
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-0,33

-0,06

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-0,76

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:
.

: - 6,334 , 1
57,7 .
. .
.
.
: .
2006 88
. 40:60
: .
. . ,
.
6.

.

X1
X2
X3
X4
X5

2002
0,537
0,056
-0,22
2,2
1,35

2003
0,63
0,015
-0,033
1,3
0,98

2004
0,478
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0,63
0,87

1 = /
1389907.8
X1
0.537
2002 :
2587693
1882646.5
X1
0.63
2003 :
2984884.2

2005
0,674
-0,026
-0,015
0,32
0,66

2006
0,4
-0,11
-0,09
0,13
0,61

2004 :
2005 :
2006 :

1949557.9
0.478
4070493.65
4092918.7
X1
0.674
6065128.43
2870385.1
X1
0.4
7151471.46
X1

X2 = /
145451.9
X2
0.056
2002 :
2587693
44843.9
X2
0.015
2003 :
2984884.2
- 65906.8
X2
0.16
2004 :
4070493.65
- 157704.3
X2
0.026
2005 :
6065128.43
- 759390.1
X2
0.11
2006 :
7151471.46
X3 = /
- 580972.1
X3
0.22
2002 :
2587693
- 99386.5
X3
0.033
2003 :
2984884.2
- 140833.7
X3
0.034
2004 :
4070493.65
- 90943.6
X3
0.015
2005 :
6065128.43
- 637685.7
X3
0.09
2006 :
7151471.46

X4 = /
1781092.7
X4
2.2
2002 :
806600.3
1680484.7
X4
1.3
2003 :
1304399.5
1569734
X4
0.63
2004 :
2500759.6
1477936.5
X4
0.32
2005 :
4587191.9
840252.7
X4
0.656
2006 :
6311218.7
X5 = /
3492329.6
X5
1.35
2002 :
2587693
2922962.6
X5
0.98
2003 :
2984884.2
3535558.4
X5
0.87
2004 :
4070493.65
4007814.8
X5
0.66
2005 :
6065128.43
4379776.8
X5
0.61
2006 :
7151471.46
Z 1.2 X 1 1.4 X 2 3.3 X 3 0.6 X 4 1.0 X 5

X1
X2
X3
X4
X5

2002
0,537
0,056
-0,22
2,2
1,35

2003
0,63
0,015
-0,033
1,3
0,98

2004
0,478
-0,16
-0,034
0,63
0,87

2005
0,674
-0,026
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0,32
0,66

2006
0,4
-0,11
-0,09
0,13
0,61

2002 Z 1.2 0.537 1.4 0.056 3.3 (0.22) 0.6 2.2 1.0 1.35 2.6668
2003 Z 1.2 0.63 1.4 0.015 3.3 (0.033) 0.6 1.3 1.0 0.98 2.43

2004 Z 1.2 0.478 1.4 (0.16) 3.3 (0.034) 0.6 0.63 1.0 0.87 1.4854
2005 Z 1.2 0.674 1.4 (0.026) 3.3 (0.015) 0.6 0.32 1.0 0.66 1.5749
2006 Z 1.2 0.4 1.4 (0.11) 3.3 0.09 0.6 0.13 1.0 0.61 0.717
2002

2.6668

2003

2004

2005

2006

2.43

1.4854

1.5749

0.717

:
1,81-
, 2,99-
. 1,81-2,99-
.

- 2002, 2003 1,81-2,99

. 2004-2006 1,81-
. 5 1,77482 .

7.

. 1.56% .
. - 2000-2004
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1
2
3
4
5
6
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2001
2002
2003
2004
2005
2006

(t)
(y)
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3600834.2
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4183989.1
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3485906.9
0
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1
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3
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0
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t2

y* t

9
4
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12988574.7
1749296.1

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n a b t
y

2
yt
a t b t

t 0

n a
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t2
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yt

7a 25948619.7

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28b 1749296.1

b 62474.86

Yt 3706945.67 62474.86 t
2002-2012 .

2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

(t)
-3
-2
-1
0
1
2
3
4
5
6
7

2007-2010

Yt 11273238,4 1580670,28 t
3519521.09
3581995.95
3644470.81
3706945.67
3769420.53
3831895.39
3894370.25
3956845.11
4019319.97
4081794.83
4144269.69

4200000
4150000
4100000
4050000

4000000
3950000

3900000
3850000
2007

2008

2009

2010

.
2005-2010 .
, .

:
1.

1998

2.

1997

3. www.bizguidemongolia.com
4. - .

100.0 .

, .

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1. 25.0 . . - . .
2. 100,0 . . .
.
3. 50.0 . . .
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,
,
,

: .
: .
: .
: 99111300, 99351200, 99093824
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