美林的行业分析框架.ppt

DRAFTChina Industry Primer[ ]August 18, 2004CONFIDENTIALHK000I5X9/7/2023HK000I5D_ML_ChinaOpportunities_0804.ppt 1Total Market Size and PerformanceNo. of Players / Total Production CapacityUnit Price / Units SoldIndustry Primer – [ ]Market OverviewBreak down to province / region and subsector as appropriateInclude as much detail as appropriate / possible Footnote all your sources!!____________________Source: [ ][Data to come][Data to come][Data to come]9/7/2023HK000I5D_ML_ChinaOpportunities_0804.ppt 2Industry Primer – [ ]Key Industry Characteristics[Fragmented market][State-ownership][Import or export driven][Segmentation of market space][Innovation driven ?][Cyclical ?][Demographic-driven][Protected sector][Low penetration][Lacking certain expertise][Scale-play][Brand-driven][High barrier of entry][High RD]Recent Developments[Introduction of certain technology][Opening of certain markets][Cutting import tariff]Rely on news run, industry sector reports, discussions in company annual reports9/7/2023HK000I5D_ML_ChinaOpportunities_0804.ppt 3Industry Primer – [ ]Key Industry Trends[Certain product type popular][Price cuts][Intensifying competition][Margin compression][Coupled with financing – electronics for example][Domestic consolidation][Diversification of customer base][Inter-provincial expansion][Declining import tariff][Governments stance and position][Funding – more private sector capital][Shift in distribution channel]Rely on news run, industry sector reports, discussions in company annual reports9/7/2023HK000I5D_ML_ChinaOpportunities_0804.ppt 4Industry Primer – [ ]Key Drivers[Strong overall economic performance][Infrastructure expansion][Increasing consumer awareness][Increase in construction work][Increase in disposal income]Tie back to the Industry Characteristics and Trends____________________Source: [ ]Driver 1Driver 2Driver 3Driver 4Source: Industry reports, equity research on profiled companies9/7/2023HK000I5D_ML_ChinaOpportunities_0804.pp