04.海外投资者密切关注中国互联网-德意志银行.pdf

Deutsche Bank 海外投资者密切关注中国互联网 Foreign investor focus on the Chinese internet 2011第六届艾瑞年度高峰会议 April 22, 2011 Alan Hellawell （阿伦-赫拉维尔） 董事总经理 亚洲TMT行业研究主管 alan.hellawell@ All prices are those current at the end of the previous trading session unless otherwise indicated. Prices are sourced from local exchanges via Reuters, Bloomberg and other vendors. Data is sourced from Deutsche Bank and subject companies. Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. DISCLOSURES AND ANALYST CERTIFICATIONS ARE LOCATED IN APPENDIX 1. MICA(P) 007/05/2010 内容概述 — 股票研究员做些什么? 2 — 一个复苏的高科技行业 3 — 市场上等待发行的项目 7 — 投资者关心的投资重点 8 — 投资者使用的估值方法 9 — 德意志银行对中国互联网行业的看法 10 — 德意志银行TMT行业每日专题以及近期话题 12 — 我们处在互联网泡沫中吗？ 14 — 结论 15 Deutsche Bank Alan He