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Series 1

2007
2.583

2008
4.449

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2008=

400972,4
123391,6
369118,4
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27

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3.3
3.2
3.1
3
2.9
2.8
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2.6
Series 1

2007
3.25

2008
2.83

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2007
110.77

2008
127.207

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2007
60.537

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2008=

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2008=

26077,5
547266 ,4
19322,2
571659,8

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0.03
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Series1

2007
0.04

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2008=

547266 ,4
777158 ,9
571659,8
591153,2

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Series1

2007
0.7

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0.967

31

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2008=

547266 ,4
1091568
571659,8
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2007
0.501

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0.588

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2008

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99,399

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2008=

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56455 ,9
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2007
0.068

2008
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Series1

2007
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2007
2.583

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Series1

2007
0.084

2008
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63407 ,2
972755,3

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6
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2007
4.209

2008
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38

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ROE2008=

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1017620 ,5
63407,2
916299,4

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2007
4.515

2008
6.92

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3754944
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3754944

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39

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1.6
1.4
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1
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Series1

2007
1.224

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1.689

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1,689

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100
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Series1

2007
108.66

2008
78.74

2007

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2008 78,74 .

40

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,
.

2007

2008

0,267

0,354

0,087

0,066

0,119

0,053

0,084

0,111

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4,209

6,518

2,309

4,515

6,920

2,405

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ROA= = =
ROA2007=
ROA2008=

45948,4
1091568
63406 ,2
972755 ,3

547266 ,4
547266 ,4

45948 ,4
547266 ,4

571659 ,8 63406 ,2
=

571659 ,8 571659 ,8

547266 ,4
1091568

571659 ,8
972755 ,3

41

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www.zaluu.com

7
6
5
4
3
2

1
0
2007
4.209

Series1

2008
6.518

ROE=ROA
ROE=

ROE2007=
ROE2008=

45948 ,4
1017620 ,5
63406 ,2
916299,4

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7
6
5
4
3
2
1
0
Series1

2007
4.515

2007=
2008=

2008
6.92
ROE 4,515

ROA 4,209
ROE

6,92

ROA 6,518

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42

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2
1.5
1
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Series1

2007
1.073

2008
1.61

:
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.
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43

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2007

2008

-118,812.7
10,88%
67,193
21,37%
-5,656.9
5,71%


2007%
2008%
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100%
28,8%
39,2%
9,1%
9,6%

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2.
a.











b.

1,091,568.0
314,409.1
98,9902

972,755.3
381,602.1
93,333.3

92,027.2

157,840.3

65,813.1

71,51%

8,4%

16,2%

123,391.6

130,428.5

7,036.9

5,7%

11,3%

13,4%

777,158.9
775,466.8

591,153.2
589,461.1

186,005.7
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23,93%
7,036.9 71,2%
23,98%
71,04%

60,7%
60,6%

1,017,357.1
-241,045.8

838,506.9
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7,155.5

17,63%
2,95%

0,93%
0,22%

81,2%
25,6%

1,692.1

1,692.1
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1.
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b.




2. (a++)
a.

b.

1,091,568.0

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10,88%

100%

100%

73,947.5
73,947.5
26,077.5

-17,491.6
-17,491.6
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23,65%
23,65%
25,9%

6,7%

5,8%

2,4%

2,9%

5,813.1

56,455.9
56,455.9
19,322.2
5,316.8
2,543.5

-3,269.6

56,24%

0,5%

0,5%

2,634.0
525.3
19,314.9

412.90
1,319.5
24,012.3

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794,2
4,697.4

84,32%
151,18%
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0,04%
1,76%

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0,13%
2,46%

19,582.7

3,528.7

-16,054

81,98%

1,79%

0,36%

0.0

0.0

0,0

0,0%

1,017,620.5
0.0

916,299.4
0.

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945,524.8
375,494.4

803,327.2
375,494.4

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0

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86,6%
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82,5%
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1.

1,692.1

44

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570,030.4

427,832.8

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24,94%

52,2%

43,9%

72,095.6

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6,6%

11,6%

45,948.4
26,147.2

63,406.2
49,466.0

17,457.8
23,418.8

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89,56%

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1. :
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b)


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2007

2008

547,266.4
548,125.6

571,659.8
573,219.3

24,393.4
25,093.7

4,45%
4,57%

100%
100,1%

100%
100,3%

859.3
400,972.4
146,293.9
110,251.8
28,535.9

1,559.5
369,118.4
202,541.4
134,673.5
35,683.5

700,2
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56,247,5
24,421.6
7,147.6

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38,44%
22,15%
25,04%

0,16%
73,27%
26,73%
20,14%
5,21%

0,273%
64,57%
35,43%
23,56%
6,24%

228.8
48,054.9
1,398.0
61.6
311.0

975.4
64,790.6

776,6
16,735.7

339,42%
34,82%

0,042%
8,78%
0,25%
0,011%

0,17%
11,33%

31,661.7
36,042.1

2,260.0
30,963.9
67,868.0

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35,825.9

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99,4%

5,78%
6,58%

0,39%
5,41%
11,87%

22,826.7

4,638.3

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4,17%

0,81%

22,826.7
3,790.0

4,638.3
2,054.9

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-1,735.1

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-45,78%

4,17%
0,69%

0,81%
0,36%

3,790.0
55,078.8

2,054.9
70,451.4

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15,372.6

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27,91%

0,69%
10,06

0,36%
12,32%

0.0
0.0

0,0
0,0

70,451.4
7,045.2
63,406.2

15,372.6
-2,085.2
17,457.8

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22,83%
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10,06
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2008
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1091568
70451,4
972755,3

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1

0.08
0.07
0.06
0.05
0.04
0.03
0.02
0.01
0
2007
0.05

Series1

2=

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2(2007)=
2(2008)=

547266,4
1091568
571659,8
972755,3

=0,501
=0,588
2

0.6
0.58
0.56
0.54
0.52
0.5
0.48
0.46
0.44
Series1

3=

2007
0.501

2008
0.588

3(2007)=


1017620,5
1091568

=0,932

49

www.zaluu.com
www.zaluu.com

3(2008)=

916299,4
972755,3

=0,942
3

0.942
0.94
0.938
0.936
0.934
0.932
0.93
0.928
0.926
2007
0.932

Series1

4=

2008
0.942

4(2007)=
4(2008)=

72095,6
1091568
112972,2
972755,3

=0,066
=0,116
4

0.12
0.1
0.08
0.06
0.04
0.02
0
Series1

2007
0.066

2008
0.116

50

www.zaluu.com
www.zaluu.com

5=

5(2007)=
5(2008)=

240461,58
1091568
325146,2
972755,3

=0,22

=0,334
5

0.35
0.3

0.25
0.2
0.15
0.1
0.05
0
2007
0.22

Series1

2008
0.334

2007

2008

0,050

0,072

0,022

0,501

0,588

0,086

0,932

0,942

0,01

0,066

0,116

0,058

0,22

0,334

0,114

Z 3.3

K1+1.0 K2+0.6

K3+1.4 K4+1.2 K5

Z2007=3,30,050+1,00,501+0,60,932+1,40,066+1,20,22=1,5816
Z2008=3,30,072+1,00,588+0,60,942+1,40,116+1,20,334=2,542

51

www.zaluu.com
www.zaluu.com

2.5
2
1.5
1
0.5
0
Series1

2007
1.5816

2008
2.542

: 2007
. 2008
.
,

.

52

www.zaluu.com
www.zaluu.com


, :
2007
2008

2007 2008

.

. 2007 28,8 %-
2008 39,2 % 1,37

.

.
1,02


21,37
23,9% - .
11% -
.
:

,
.
:
8,7%- ,

53

www.zaluu.com
www.zaluu.com

.


.
,

2008

54

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www.zaluu.com




. 2001 ,
. 2004 ,

www.mse.mn

55

www.zaluu.com
www.zaluu.com

- ,

3,754,944

321907,327285,322448


. (1+2)
3.

4.
a.











b.

56

2007
1,091,568.0
314,409.1
98,9902

2008
972,755.3
381,602.1
93,333.3

92,027.2

157,840.3

123,391.6

130,428.5

777,158.9
775,466.8

591,153.2
589,461.1

1,017,357.1
-241,045.8

838,506.9
-249,045.8

1,692.1

1,692.1
1,692.1

1,692.1

www.zaluu.com
www.zaluu.com

.

3.
a.





-





b.





4. (a++)
a.

b.





c. ()

1,091,568.0

972,755.3

73,947.5
73,947.5
26,077.5
5,813.1

56,455.9
56,455.9
19,322.2
5,316.8
2,543.5

2,634.0
525.3
19,314.9

412.90
1,319.5
24,012.3

19,582.7

3,528.7

0.0

0.0

1,017,620.5
0.0

916,299.4
0.

945,524.8
375,494.4

803,327.2
375,494.4

570,030.4
72,095.6
45,948.4
26,147.2

427,832.8
112,972.2
63,406.2
49,466.0


1.



2.
3. 1-2
4.

2006
547,266.4
548,125.6

2007
571,659.8
573,219.3

859.3
400,972.4
146,293.9
110,251.8
28,535.9

1,559.5
369,118.4
202,541.4
134,673.5

57

www.zaluu.com
www.zaluu.com












5. ()
(5+6-7)
6.
,

7.
,

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

11. 8910
12.
13.
() (11-12)








58

228.8
48,054.9
1,398.0
61.6
311.0

975.4
64,790.6

31,661.7
36,042.1
22,826.7

2,260.0
30,963.9
67,868.0
4,638.3

22,826.7
3,790.0

4,638.3
2,054.9

3,790.0
55,078.8

2,054.9
70,451.4
0.0
0.0

55,078.8
9,130.4

70,451.4
7,045.2

45,948.4

63,406.2

2006
3,754,945

2007
3,754,945

34,132
133
200
200
100
2006

34,132
133
200
200
100
2007

www.zaluu.com
www.zaluu.com






















ROI
ROE
EPS
P/E
( )
1= /
2= /
3= /

4= /
5= /

59

240461.58
4.252
2.583

325146.20
6.759
4.449

3.250
110.783
60.537
5.947
0.704
0.501

2.830
127.207
99.399
3.622
0.967
0.588

0.068
0.000
#DIV/0!
1.339
2.583

0.058
0.000
#DIV/0!
1.653
4.449

0.267
0.066
0.084
4.209
4.515
1.224
108.472
1.584
0.050
0.501
0.932

0.354
0.119
0.111
6.518
6.920
1.689
78.606
1.956
0.072
0.588
0.942

0.066
0.22

0.116
0.334

www.zaluu.com
www.zaluu.com

5. ( )

60

www.zaluu.com
www.zaluu.com

61

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