【計(jì)劃書】西部證券2004-2007年商業(yè)計(jì)劃書

1 Western XX FMCBusiness Plan(2004-2007) to be further discussed(Confidential) 2 1、 Profile of Western XX Asset Management Co.,Ltd. 2、 Organizational Structure 3、 Business Development Strategies 4、 Roadmap 5、 Assumptions and Forecast 6、 Sales Breakdown in 2005 3 n 1、 Profile of Western XX Asset Management Co.,Ltd. 4 Registered Capital and Share StructureRegistered Capital: RMB 100 millionRegistered Place: Pudong District, Shanghai, ChinaProposed Share Structure: Western Securities Co., Ltd. RMB 40 million Other foreign sponsor RMB 33 million Shaanxi Investment Group Co.,Ltd. RMB 27 million 5 Business ScopeFund management and investment advisory business in China as permitted by the applicable law. (incl. promotion, sale,issuance and management of investment funds)Other asset management business permitted by the applicable law. 6 Vision, Philosophy and StrategyVisionOne of the leaders in the great China wealth management PhiloshophyInvestors benefits are everythingStrategyBrand, Service and Product all in one 7 Business GoalGrow the JV into one of the top 5 FMCs in China, in the following three categories: Profitability Fund Performance Total AUM Professionalism 8 n 2、 Organizational Structure 9 FMCs Organization Chart (at the beginning)CEO(1)CMO(1) CIO(1) CEO/COO(1) SalesInternational management teamFund product innovation around RMB0.7bn units will be sold to insurance companies Unit: RMB 100 millio yuan 45 n Potentials from Other Financial Institutions ex Banks Total assets of finance companies are RMB346bn, net assets are RMB32.2bn by the end of Jun. 2002 Major finance companies in China : China Electric Power Finance Co., China Petroleum Finance Co., China Petrifaction Finance Co., HuaNeng Finance Co., Zhongwu Finance Co. etc. Trust more than RMB0.55bn funds will be sold to these companies 46 n NaCSSeF/Houese Reserve/Listed Companies Total assets of National Council for Social Security Fund (NaCSSeF) are around RMB124.1bn by the end of 2003 which of 40 percent is permitted to flow into securities market Total assets of National House Reserve are 346.7bn by the end of 2003, and 1.5% of total sum managed by Shaanxi Provincial House Reserve According to the bulletins of China Securities Journal, trust assets of listed companies managed by securities companies exceed RMB 3bn in 2003ASSUME that around RMB20bn assets of NaCSSeF allocated into mutual funds and 1 percent market share taken by JVFMC; 0.2bn units funds will be sold to NaCSSeFASSUME 5% share of Shaanxi Provincial House Reserve taken by JVFMC, that is 0.25bn units 47 State-owned Enterpirise Groups (Strategic partners) Shaanxi Provincial Investment Group State-owned investment holding company with a registered capital of RMB3bn; to manage the governmental enterprises, real estate and financial assets more than RMB15bn by the end of 2002 HanNan Airlines Group Listed company invested by American Aviation Ltd., and total assets exceeding around RMB20bn; more than sixty thousand employees Shaanxi Provincial Electric Power Co. Fully held by National Electric Power Co., Ltd; total Assets exceeding RMB 24bn and by the end of 2002; sustained long-term growth and abundant cash China HuaNeng Group, China LuNeng Group, Jiangsu Electric Power Co., Guizhou Electric Power Co., Zhejiang Electric Power Co., China International Traveling Group, Zhong Hai Group 48 Non-profit Organization (Good relationship ) Universities and affiliated companies Xian Jiaotong University, Northwestern University, Northwestern Polytechnical University, Xian Fanyi University, Changan University, Tongji University, Shanhai Financial University, Fudan University, Xijing University, Ouya University, Zhejiang University Tianjin University, Nankai University, Nanjing University etc. Hospitals and affiliated institutions Xi Jing Hospital, Xian Dianzi Hospital, Xian Wujing Hospital, Eastern Hospital, Huaxi University etc. Charity funds association Yanlin Agriculture Development Funds, Yanlin Industry Development funds, Shaanxi Architecture Industry Fund etc. 49 Internal Sales Package ASSUME 100,000 units purchased by each top-level manager 50,000 units purchased by each middle-level manager 10,000 units purchased by each ordinary employee Product package should be well designed for individual investor, and the return should be superior to the market benchmark Employee can purchase JVFMCs funds at discount front-end fee rate Top-level Manager Middle-level Manager OrdinaryEmployee TotalShaanxi Provincial Investment Group 77 365 5489 5931Shaanxi ProvincialElectri Power Co. 502 3200 36524 40226Shaanxi High-tech Industry Investment 204 530 4287 5021Western Securities 9 55 633 697Total 792 4150 46933 51875 50 Top-levelManager Middle-level Manager Ordinary Employee TotalShaanxi Provincial Investment Group 7.7 18.25 54.89 80.84Shaanxi ProvincialElectri Power Co. 50.2 160 365.24 575.44Shaanxi High-tech Industry Investment 20.4 26.5 42.87 89.77Western Securities 0.9 2.75 6.33 9.98Total 79.2 207.5 469.33 756.03 Unit: RMB Million yuan Internal Sales Estimation 51 Retail SalesFund Assets under Custody in Chinese Commercial Banks Open-end Funds Closed-end Funds Total Num.of Branch ICBC 278.83 206 484.83 17,000China Agricultural Bank 114.21 230 344.21 4,200China Construction Bank 125.52 175 300.52 12,000Bank of China 202.11 60 262.11 7,064 Bank of Communication 152.10 146 298.10China Everbright Bank 16.45 16.45 China Merchants Bank 40.87 40.87 Shanghai PudongDevelopment Bank 25.72 25.72 Unit: RMB 100 million Total 955.81 817 1772.81 40,264 52 Comprehensive Cooperation Contracts Western Securities signed the comprehensive cooperation contracts with ICBC and CCB in 2001; the contracts will be signed once again after 2004 and become effect continually Following banks have been discussing comprehensive cooperation contract with Western Securities: Nationwide Banks: Bank of Communication, HUA XIA Bank, Shanghai Bank, Shanghai Pudong Development Bank Local Commercial Banks: Xian Commercial Bank, Baoji Commercial Bank, Xianyang Commercial Bank, Nanjing Commercial Bank, Tianjin Commercial Bank, Guiyang Commercial Bank, Ji Nan Commercial Bank, Yin Chuan Commercial Bank 53 Distribution Channels ASSUME ICBC,CAB,CCB,COB as JVFMC agency banks,10 securities firms,100branches as agency; Aver. 80,000 units distributed by each branch,total 3.2 billion units distributed through commercial banks; Aver. 3,000,000 units distributed by each branch of agency securities firms,total 0.3 billion units distributed through securities firms ; 5 Direct sales centers in Beijing,Shanghai,Shenzhen,Xian,Fuzhou, 0.1billion distributed each center,total 0.5 billion; 0.2 billion units distributed through Call-center,website and other sub-contractors. 54 Sales Forecast in 2005 Pessimistic % Realistic % Optimistic % Internal Sales Package 2.2 4.58% 3 4.62% 3.7 4.63% State-owned enterprise group 2.2 4.58% 3 4.62% 3.7 4.63% Insurance companies 5.2 10.83% 7 10.77% 8.6 10.75% Other financial institutions 4 8.33% 5.5 8.46% 6.8 8.50% NaCSSeF/Listed companies 1.5 3.13% 2 3.08% 2.5 3.13% Housing reserve 1.9 3.96% 2.5 3.85% 3 3.75% Non-profit organization 1.5 3.13% 2 3.08% 2.5 3.13% Other companies 0.7 1.46% 1 1.54% 1.2 1.50% Subtotal 19.2 40.00% 26 40.00% 32 40.00% Custody bank 10.9 22.71% 15.4 23.69% 18.7 23.38% Agency bank 10.4 21.67% 14.2 21.85% 17.6 22.00% Securities house 2.5 5.21% 3.2 4.92% 4.1 5.13% Other distributors 5 10.42% 6.2 9.54% 7.6 9.50% Subtotal 28.8 60.00% 39 60.00% 48 60.00% Total 48 100.00% 65 100.00% 80 100% Unit: in 100 million RMB yuan Direct Sales Retail Sales 55 Package Scheme/Saving up Plan Package scheme (for different investors) 80% equity fund, 20% money market fund; 50% equity fund, 50% money market fund 30% equity fund, 30% hybrid fund,40% money market fund 20% hybrid fund, 80% money market fund Saving-up plan 80% initial purchase + 20% saving-up