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1、1,中国航空油料 (新加坡)有限公司,为快速成长的中国航空产业加油！,2,第一部分 我们是谁 第二部分 独特的业务 第三部分 高速成长的经营记录 第四部分 公司成长战略 第五部分 总结 第六部分 发行数据,3,我们是谁,Section 1,4,我们是谁,中国民用航空产业 的 独家航空用油提供商,Who We Are,5,业务,航油提供业务风险较低，并能够提供稳定的收益增长,国际贸易建立在航油提供业务之上,有计划的投资将加强我们的业务并为业务带来更多的成长,我们是谁,6,发展历程,Who We Are,7,独特的业务,Section 2,8,CAOs Uniqueness,Leveraging
2、On the Growing Chinese Aviation Industry,惟一的航油进口商,Our Unique Business,Proposed Acquisition of a Stake in Shanghai Pudong International Airport Aviation Fuel Supply Corporation Ltd. - 中国利润最丰厚的航油企业,9,Leveraging On the Growing Chinese Aviation Industry,Our Unique Business,中国经济 增长 的 宏图,10,Leveraging On
3、the Growing Chinese Aviation Industry,Our Unique Business,1993年以来中国已经成为纯原油进口国家,11,Leveraging On the Growing Chinese Aviation Industry,Our Unique Business,Source: Civil Aviation Administration of China,12,Our Unique Business,Short haul consumes more jet fuel per km,Independent of world trends,New ord
4、er for 30 Boeing a/c Oct 2001,Expected 500 a/c in the next 5-7years,受国内航空旅游成长带动,Leveraging On the Growing Chinese Aviation Industry,13,Leveraging On the Growing Chinese Aviation Industry,Our Unique Business,Solid Growth Potential,14,Sole Jet Fuel Importer,Our Unique Business,CAO is currently the onl
5、y wholly-owned overseas subsidiary of CAOSC,CAOSC committed not to set up another company to compete with CAO,Chairman and other non-executive Directors of CAO are key executives of CAOSC,母公司的有利支持 (CAOSC),15,No Negative Impact,More Benefits,中国加入WTO将积极带动我们的业务,Sole Jet Fuel Importer,Our Unique Busines
6、s,16,Sole Jet Fuel Importer,Our Unique Business,The announcement of merger of CAOSC and CASC imply the emphasis placed by government on the economic scale,The small volume of current jet fuel consumption is not justified for many players, economic scale is key,Jet fuel is a national strategic resour
7、ce, we believe that government will pay attention to the supply of jet fuel,Parents Controlling Position Will Be Likely Maintained,Current jet fuel supply infrastructure is complete and systematic, breaking such a system will not create competition, but operational inefficiency,17,Proposed Acquisiti
8、on of Pudong Aviation Fuel Corporation,Our Unique Business,Exclusive right in supplying jet fuel in Pudong International Airport,Own the sole jet fuel supplying infrastructure,Low maintenance cost and repair expenses,Pudong vs Chicago,Attractive Business,Great Potential,18,Proven Track Record,Sectio
9、n 3,19,Financial Performance,Proven Track Record,CAGR 84%,20,经营财务业绩,Proven Track Record,1,085,170.7,414.5,963.7,复合增长率 85%,21,Financial Performance,Proven Track Record,Growing Procurement and Trading Volume,Million MT,复合增长率 66%,22,Financial Performance,Proven Track Record,No Gearing 没有坏账 不断增长的现金,23,成
10、长战略,Section 4,24,Strategies For Growth,Growth Strategy,25,总结,Section 6,26,Summary,Summary,中国,Sole Importer,浦东,27,袁同舟 国泰君安香港融资有限公司,28,发行数据,Summary,发行规模 : 1.44 亿新股 - 10 mln public offer shares - 134 mln placement shares 发行价 : 新加坡元0.56 元每股 融资额 : 新加坡元8064 万 历史市盈率 : 18.1 预测市盈率 : 6.2 Gross Dividend Yield
11、: 5.0%,29,Use of Proceeds,Summary,Net Proceeds of approximately S$76.6 million: S$57.0 million for future expansion through joint ventures and/or strategic investments in China and Hong Kong; S$15.5 million to acquire companies and/or set up subsidiaries in USA and Europe within the next two years; and S$4.1 million for working capital,30,重要日期,Summary,开始 : 2001年11月26日, 星期一, 12 noon 结束 : 2001年12月4日, 星期二, 12 noon 上市交易 : 2001年12月6日, 星期四, 9.00 a.m.,31,Q&A,32,中国航空油料 (新加坡)有限公司,Fuelling The Rapidly Growing China Aviation Industry,
