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2007年的中国资本市场可谓跌宕起伏,上证综指从2月6日的2541.52点飙升至10月16日的6124.04点,最大涨幅近141%,随后进入了调整期。在很多股票经历大起大落的时候,工行股票却在良好业绩的支撑下稳步上升:2007年12月28日工行A股股价报收8.13元人民币,较2006年A股发行价3.12元增长了161%;2007年12月31日,工行H股报收5.6港元,较2006年发行价3.07港元上涨了82%。在新年到来之际,我们有必要回顾2007年工商银行在资本市场中的表现及其股价走势背后的动因,以期能够对未来有理性而准确的预测。
China’s capital market in 2007 was characterized by ups and downs. The Shanghai Composite Index soared from 2,541.52 points on February 6 to 6124.04 points on Oct. 16, the largest increase of nearly 141%, and then entered a period of adjustment. In many stock ups and downs, ICBC stocks steadily rose with the support of good performance: ICBC A shares closed at RMB8.13 on Dec. 28, 2007, an increase of 161% over the 2006 A-share issue price of RMB3.12. As of December 31, 2007, ICBC H shares closed at 5.6 Hong Kong dollars, up 82% over the 2006 issue price of HK $ 3.07. At the dawn of the new year, it is necessary for us to review the performance of ICBC in capital markets in 2007 and the motivation behind its stock price movements so as to be able to reasonably and accurately predict the future.