\u7b2c\u4e00\u90e8\u5206\uff1a\u786e\u5b9a\u4e00\u5bb6\u516c\u53f8\u7684\u201c\u8d28\u5730\u201d\uff08\u63cf\u7ed8\u4e00\u5bb6\u516c\u53f8\u7684\u603b\u4f53\u5370\u8c61\uff09<\/b><\/p>\n
1.1\u5929\u82b1\u677f<\/p>\n
\u5929\u82b1\u677f\u662f\u6307\u4f01\u4e1a\u6216\u884c\u4e1a\u7684\u4ea7\u54c1\uff08\u6216\u670d\u52a1\uff09\u8d8b\u4e8e\u9971\u548c\u3001\u8fbe\u5230\u6216\u63a5\u8fd1\u4f9b\u5927\u4e8e\u6c42\u7684\u72b6\u6001\u3002\u5728\u8fdb\u884c\u6295\u8d44\u4e4b\u524d\uff0c\u6211\u4eec\u5fc5\u987b\u660e\u786e\u4f01\u4e1a\u5c5e\u4e8e\u4e0b\u5217\u54ea\u4e00\u79cd\u60c5\u51b5\uff0c\u5e76\u9488\u5bf9\u4e0d\u540c\u60c5\u51b5\u7ed9\u51fa\u76f8\u5e94\u7684\u6295\u8d44\u7b56\u7565\u3002\u5728\u5224\u65ad\u4e0a\uff0c\u65e2\u8981\u91cd\u89c6\u884c\u4e1a\u524d\u666f\uff0c\u4e5f\u5fc5\u987b\u5173\u6ce8\u4f01\u4e1a\u7d20\u8d28\u3002<\/p>\n
1\uff09\u5df2\u7ecf\u8fbe\u5230\u5929\u82b1\u677f\u7684\u884c\u4e1a\u2014\u2014\u6781\u5ea6\u9971\u548c\u7684\u884c\u4e1a\uff08\u5982\u94a2\u94c1\u884c\u4e1a\uff09\u3002\u6295\u8d44\u673a\u4f1a\u6765\u81ea\u4e8e\u5177\u6709\u5784\u65ad\u7ecf\u8425\u80fd\u529b\u7684\u4f01\u4e1a\u4f4e\u6210\u672c\u517c\u5e76\u52a3\u52bf\u4f01\u4e1a\uff0c\u6269\u5927\u5e02\u573a\u4efd\u989d\uff0c\u964d\u4f4e\u4ea7\u54c1\u751f\u4ea7\u548c\u9500\u552e\u7684\u8fb9\u9645\u6210\u672c\uff0c\u4ece\u800c\u8fdb\u4e00\u6b65\u6784\u7b51\u5e02\u573a\u58c1\u5792\uff0c\u83b7\u5f97\u4ea7\u54c1\u7684\u5b9a\u4ef7\u6743\u3002\u5982\u679c\u517c\u5e76\u4e0d\u80fd\u505a\u5230\u8fb9\u9645\u6210\u672c\u4e0b\u964d\u5c31\u4e0d\u80fd\u7b97\u662f\u597d\u7684\u6295\u8d44\u6807\u7684\u3002\u6bd4\u5982\uff0c\u56fd\u4f01\u5728\u884c\u653f\u63a8\u52a8\u4e0b\u7684\u517c\u5e76\u505a\u5927\uff0c\u5e76\u975e\u6309\u7167\u5e02\u573a\u5b9a\u4ef7\u539f\u5219\u8fdb\u884c\uff0c\u56e0\u6b64\u5176\u653f\u6cbb\u610f\u4e49\u5927\u4e8e\u7ecf\u6d4e\u610f\u4e49\uff0c\u6b64\u7c7b\u56fd\u4f01\u4e0d\u5177\u5907\u6295\u8d44\u4ef7\u503c\u3002<\/p>\n
\u90a3\u4e9b\u5728\u884c\u4e1a\u8427\u6761\u671f\u672b\u7aef\u4ecd\u6709\u826f\u597d\u73b0\u91d1\u6d41\uff0c\u6781\u5177\u7ade\u4e89\u80fd\u529b\u7684\u4f01\u4e1a\u5728\u5927\u91cf\u540c\u7c7b\u4f01\u4e1a\u7eb7\u7eb7\u9677\u5165\u56f0\u5883\u4e4b\u65f6\u6781\u5177\u6f5c\u5728\u7684\u6295\u8d44\u4ef7\u503c\u3002\u5224\u65ad\u884c\u4e1a\u62d0\u70b9\u6216\u9700\u6c42\u62d0\u70b9\u662f\u5173\u952e\uff0c\u91cd\u70b9\u5173\u6ce8\u90a3\u4e9b\u5927\u578b\u4f01\u4e1a\u7684\u5e76\u8d2d\u673a\u4f1a\uff0c\u5982\u56fd\u5185\u56db\u5927\u94a2\u94c1\u516c\u53f8\u3002<\/p>\n
2\uff09\u4ea7\u4e1a\u5347\u7ea7\u521b\u9020\u65b0\u7684\u9700\u6c42\uff0c\u65e7\u7684\u5929\u82b1\u677f\u88ab\u89e3\u6784\uff0c\u65b0\u7684\u5929\u82b1\u677f\u5c1a\u672a\u6216\u6b63\u5728\u5f62\u6210\u3002\u5982\u6c7d\u8f66\u884c\u4e1a\u548c\u901a\u8baf\u884c\u4e1a\u3002\u8fd9\u4e9b\u884c\u4e1a\u901a\u5e38\u5df2\u7ecf\u6bd4\u8f83\u6210\u719f\uff0c\u5176\u6295\u8d44\u673a\u4f1a\u5728\u4e8e\u6280\u672f\u521b\u65b0\u5e26\u6765\u65b0\u9700\u6c42\u3002\u201c\u521b\u65b0\u201d\u2014\u2014\u4f1a\u6253\u7834\u539f\u6709\u7684\u884c\u4e1a\u5e73\u8861\uff0c\u521b\u9020\u51fa\u65b0\u7684\u9700\u6c42\u3002\u5173\u6ce8\u65b0\u65e7\u52bf\u529b\u7684\u5e73\u8861\u5173\u7cfb\uff0c\u4ee3\u8868\u65b0\u6280\u672f\u3001\u65b0\u751f\u4ea7\u529b\u7684\u4f01\u4e1a\u5c06\u8131\u9896\u800c\u51fa\uff0c\u5176\u4ea7\u54c1\u548c\u670d\u52a1\u5c06\u9010\u6b65\u53d6\u4ee3\u751a\u81f3\u5b8c\u5168\u53d6\u4ee3\u65e7\u7684\u4ea7\u54c1\uff0c\u5982$\u7279\u65af\u62c9\u7535\u52a8\u8f66(TSLA)$\u00a0\u548c$\u82f9\u679c(AAPL)$\u00a0\u7684\u521b\u65b0\u5bf9\u5404\u81ea\u884c\u4e1a\u7684\u51b2\u51fb\u3002<\/p>\n
3\uff09\u884c\u4e1a\u7684\u5929\u82b1\u677f\u5c1a\u4e0d\u660e\u786e\u7684\u884c\u4e1a\u3002\u8fd9\u4e9b\u884c\u4e1a\u8981\u4e48\u5904\u5728\u65b0\u5174\u884c\u4e1a\u9886\u57df\uff0c\u9700\u6c42\u6b63\u5728\u5f62\u6210\uff0c\u5e76\u4e14\u672a\u6765\u7684\u5e02\u573a\u5bb9\u91cf\u96be\u4ee5\u4f30\u8ba1\uff0c\u5982\u65b0\u578b\u8282\u80fd\u6750\u6599\uff1b\u8981\u4e48\u5c5e\u4e8e\u201c\u5feb\u901f\u6d88\u8d39\u201d\u4ea7\u54c1\uff0c\u5982\u63d0\u9ad8\u4eba\u7c7b\u751f\u6d3b\u8d28\u91cf\u3001\u5ef6\u957f\u4eba\u7c7b\u5bff\u547d\u7684\u533b\u836f\u4ea7\u54c1\u548c\u670d\u52a1\u3002\u8fd9\u7c7b\u884c\u4e1a\u5386\u6765\u90fd\u662f\u4f1f\u5927\u4f01\u4e1a\u7684\u6447\u7bee\uff0c\u725b\u80a1\u5c42\u51fa\u4e0d\u7a77\uff0c\u8981\u91cd\u70b9\u6316\u6398\u90a3\u4e9b\u7ec6\u5206\u884c\u4e1a\u91cc\u5177\u5907\u9886\u519b\u5730\u4f4d\u7684\u4f18\u79c0\u4f01\u4e1a\u2014\u2014\u5373\uff1a\u5c0f\u884c\u4e1a\u91cc\u7684\u5927\u516c\u53f8\u3002<\/p>\n
\u6211\u4eec\u5b8c\u5168\u53ef\u4ee5\u4ece\u516c\u53f8\u548c\u884c\u4e1a\u62a5\u9053\u4e2d\uff0c\u901a\u8fc7\u4ee5\u4e0a3\u70b9\u63a2\u8ba8\u6df1\u523b\u4e86\u89e3\u4e00\u5bb6\u516c\u53f8\u7684\u884c\u4e1a\u5730\u4f4d\u548c\u672a\u6765\u60f3\u8c61\u7a7a\u95f4\u3002\u91cd\u70b9\u662f\u660e\u786e\uff1a1.\u00a0\u6709\u6ca1\u6709\u5929\u82b1\u677f\uff1f\uff1b2.\u00a0\u9762\u5bf9\u5929\u82b1\u677f\uff0c\u4f01\u4e1a\u90fd\u505a\u4e86\u4e9b\u4ec0\u4e48\uff1f<\/p>\n
1.2\u5546\u4e1a\u6a21\u5f0f<\/p>\n
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\u7b80\u8981\u7684\u5546\u4e1a\u6a21\u5f0f\u60c5\u666f\u5206\u6790\uff1a<\/p>\n
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\u901a\u5e38\u6765\u8bf4\uff0c\u6211\u4eec\u5c3d\u53ef\u80fd\u6295\u8d44\u90a3\u4e9b\u7528\u4e00\u53e5\u8bdd\u5c31\u80fd\u8bf4\u660e\u767d\u5546\u4e1a\u6a21\u5f0f\u7684\u4f01\u4e1a\u3002\u5546\u4e1a\u6a21\u5f0f\u8fdb\u4e00\u6b65\u5206\u6790\u6d89\u53ca\u4f01\u4e1a\u6240\u5904\u7684\u4ea7\u4e1a\u94fe\u7684\u5730\u4f4d\u5982\u4f55\uff1f\u5904\u5728\u4ea7\u4e1a\u94fe\u7684\u4e0a\u6e38\u3001\u4e2d\u6e38\u8fd8\u662f\u4e0b\u6e38\uff1f\u6574\u4e2a\u4ea7\u4e1a\u94fe\u4e2d\u6709\u54ea\u4e9b\u4e0d\u540c\u7684\u5546\u4e1a\u6a21\u5f0f\uff1f\u5173\u952e\u7684\u533a\u522b\u662f\u4ec0\u4e48\uff1f\u90a3\u4e9b\u662f\u6700\u6709\u5b9a\u4ef7\u6743\u7684\u4f01\u4e1a\uff1f\u4e3a\u4ec0\u4e48\uff1f\u4f01\u4e1a\u4e0e\u5ba2\u6237\u7684\u5173\u7cfb\u662f\u5426\u5177\u5907\u5f88\u5f3a\u7684\u7c98\u6027\uff1f\u7b49\u7b49\uff0c\u8fd9\u4e9b\u51b3\u5b9a\u8be5\u5546\u4e1a\u6a21\u5f0f\u80fd\u5426\u6210\u529f\u3002<\/p>\n
1.3\u4f01\u4e1a\u7684\u6838\u5fc3\u7ade\u4e89\u529b<\/p>\n
\u5546\u4e1a\u6a21\u5f0f\u8c01\u90fd\u53ef\u4ee5\u6a21\u4eff\u3002\u4f46\u662f\uff0c\u6210\u529f\u8005\u6c38\u8fdc\u662f\u5c11\u6570\u3002\u4f18\u79c0\u7684\u4f01\u4e1a\u5173\u952e\u662f\u5177\u5907\u6784\u7b51\u5546\u4e1a\u6a21\u5f0f\u76f8\u5e94\u7684\u6838\u5fc3\u7ade\u4e89\u529b\u3002<\/p>\n
\u6838\u5fc3\u7ade\u4e89\u529b\u7684\u5185\u5bb9\u5305\u542b\uff1a\u80a1\u4e1c\u7ed3\u6784\uff0c\u9886\u519b\u4eba\u7269\uff0c\u56e2\u961f\uff0c\u7814\u53d1\uff0c\u4e13\u4e1a\u6027\uff0c\u4e1a\u52a1\u7ba1\u7406\u6a21\u5f0f\uff0c\u4fe1\u606f\u6280\u672f\u5e94\u7528\uff0c\u8d22\u52a1\u7b56\u7565\uff0c\u53d1\u5c55\u5386\u53f2\u7b49\u7b49\u3002<\/p>\n
1\uff09\u4e13\u4e00\u6027\uff1a<\/p>\n
\u4e13\u4e00\u5e76\u4e0d\u7b49\u540c\u4e8e\u201c\u5355\u4e00\u201d\uff0c\u800c\u662f\u6307\u4f01\u4e1a\u5728\u67d0\u4e00\u9886\u57df\u5177\u6709\u6df1\u5ea6\u6316\u6398\u548c\u6269\u5c55\u4ea7\u54c1\u6216\u670d\u52a1\u7684\u80fd\u529b\u3002\u4f8b\u5982\u53cc\u6c47\uff0c\u5728\u8089\u5236\u54c1\u4e0a\u505a\u5230\u7edd\u5bf9\u4e13\u4e00\uff0c\u9664\u8089\u5236\u54c1\u4e4b\u5916\u7684\u884c\u4e1a\u5747\u4e0d\u6d89\u53ca\u3002\u5176\u4ea7\u54c1\u7ebf\u4e30\u5bcc\uff0c\u5728\u70ed\u9c9c\u8089\u3001\u51b7\u9c9c\u8089\u3001\u51bb\u8089\u3001\u8089\u80a0\u548c\u5176\u4ed6\u8089\u7c7b\u52a0\u5de5\u4ea7\u54c1\u65b9\u9762\u6709\u6df1\u5165\u6316\u6398\u548c\u62d3\u5c55\u7684\u80fd\u529b\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u540c\u6837\u662f\u8089\u5236\u54c1\u9f99\u5934\u4f01\u4e1a\u7684\u96e8\u6da6\u98df\u54c1\u5374\u6d89\u8db3\u623f\u5730\u4ea7\u3001\u65c5\u6e38\u7b49\u975e\u4e3b\u4e1a\uff0c\u7ba1\u7406\u5c42\u7cbe\u529b\u5206\u6563\uff0c\u591a\u5e74\u6765\u4e1a\u7ee9\u4e0d\u4f73\u3002\u56e0\u6b64\uff0c\u4e13\u4e00\u6027\u51b3\u5b9a\u4e86\u4f01\u4e1a\u7684\u4e3b\u653b\u65b9\u5411\u548c\u53d1\u5c55\u6218\u7565\uff0c\u575a\u6301\u4e0d\u61c8\u5fc5\u6709\u6210\u5c31\u3002<\/p>\n
2\uff09\u521b\u65b0\u80fd\u529b\uff1a<\/p>\n
\u4f18\u79c0\u7684\u7814\u53d1\u56e2\u961f\uff0c\u5df2\u7ecf\u83b7\u5f97\u7684\u80fd\u591f\u63d0\u4f9b\u9ad8\u6807\u51c6\u4ea7\u54c1\u548c\u670d\u52a1\u7684\u5148\u8fdb\u7684\u5de5\u827a\u3001\u6d41\u7a0b\uff0c\u6216\u662f\u53d1\u660e\u4e13\u5229\uff0c\u7b49\u7b49\u3002\u7eaf\u7cb9\u7684\u6280\u672f\u5e76\u4e0d\u6784\u6210\u6c38\u4e45\u7684\u6838\u5fc3\u7ade\u4e89\u529b\u3002\u4f46\u662f\u67d0\u4e00\u9886\u57df\u7684\u6280\u672f\u58c1\u5792\uff08\u5982\u4e13\u5229\u6280\u672f\uff09\u5374\u80fd\u5728\u4e00\u6bb5\u65f6\u671f\u5185\u4fdd\u6301\u4f01\u4e1a\u7684\u9886\u5148\u4f18\u52bf\u3002\u6b64\u5916\uff0c\u6280\u672f\u4f18\u52bf\u4f1a\u5e26\u6765\u751f\u4ea7\u6548\u7387\u4ee5\u53ca\u751f\u4ea7\u6210\u672c\u7684\u4f18\u52bf\uff0c\u6709\u6280\u672f\u4f18\u52bf\u7684\u4f01\u4e1a\u5c31\u80fd\u591f\u83b7\u5f97\u9ad8\u4e8e\u884c\u4e1a\u5e73\u5747\u6c34\u5e73\u7684\u56de\u62a5\u3002\u53ef\u4ee5\u901a\u8fc7\u4f01\u4e1a\u7684\u7814\u53d1\u8d39\u7528\u4e0e\u6536\u5165\u7684\u6bd4\u503c\u5173\u7cfb\u83b7\u5f97\u91cf\u5316\u7ed3\u679c\u505a\u51fa\u903b\u8f91\u5224\u65ad\u3002<\/p>\n
3\uff09\u7ba1\u7406\u8005\u4f18\u52bf\uff1a<\/p>\n
\u4f01\u4e1a\u7684\u53d1\u5c55\u4e3a\u6295\u8d44\u8005\u5e26\u6765\u8d85\u989d\u6536\u76ca\u3002\u4f01\u4e1a\u7684\u9886\u5bfc\u8005\u53ca\u5176\u7ba1\u7406\u56e2\u961f\u7684\u7d20\u8d28\u5173\u7cfb\u5230\u4f01\u4e1a\u7684\u7d20\u8d28\uff0c\u5173\u7cfb\u5230\u4f01\u4e1a\u80fd\u8d70\u591a\u8fdc\u3001\u80fd\u505a\u591a\u5927\uff0c\u201c\u6295\u8d44\u8981\u6295\u4eba\u201d\u6b63\u662f\u8fd9\u4e2a\u542b\u4e49\u3002\u5728\u8fd9\u4e00\u90e8\u5206\uff0c\u91cd\u70b9\u8981\u8003\u5bdf\u9886\u5bfc\u8005\u548c\u7ba1\u7406\u56e2\u961f\u6210\u5458\u7684\u80cc\u666f\uff0c\u901a\u8fc7\u8ddf\u8e2a\u4ed6\u4eec\u7684\u8a00\u884c\uff08\u901a\u8fc7\u65b0\u95fb\u3001\u62db\u80a1\u8bf4\u660e\u4e66\u6216\u8463\u4e8b\u4f1a\u62a5\u544a\uff09\u4e2d\u83b7\u53d6\u4f01\u4e1a\u7684\u53d1\u5c55\u65b9\u5411\u3001\u884c\u4e1a\u6218\u7565\u3001\u7528\u4eba\u673a\u5236\u3001\u6fc0\u52b1\u63aa\u65bd\u7b49\u65b9\u9762\u7684\u4fe1\u606f\u3002\u6211\u4eec\u9700\u8981\u5224\u65ad\u4ed6\u4eec\u7684\u4eba\u54c1\u3001\u683c\u5c40\u548c\u4ef7\u503c\u89c2\uff0c\u8fd9\u4e9b\u56e0\u7d20\u90fd\u4f1a\u6f5c\u79fb\u9ed8\u5316\u5730\u5f71\u54cd\u4e00\u4e2a\u4f01\u4e1a\u7684\u524d\u9014\uff0c\u4e5f\u95f4\u63a5\u5730\u5f71\u54cd\u5230\u6295\u8d44\u8005\u7684\u56de\u62a5\u7387\u3002\u5b9e\u8df5\u8bc1\u660e\uff0c\u4e00\u6d41\u7684\u4eba\u624d\u505a\u4e09\u6d41\u7684\u751f\u610f\uff0c\u6709\u53ef\u80fd\u628a\u4e09\u6d41\u505a\u6210\u4e00\u6d41\u3002\u76f8\u53cd\uff0c\u4e09\u6d41\u7684\u4eba\u624d\u505a\u4e00\u6d41\u7684\u751f\u610f\uff0c\u5f88\u53ef\u80fd\u628a\u4e00\u6d41\u505a\u6210\u4e0d\u5165\u6d41\u3002\u5f88\u591a\u7b2c\u4e00\u4ee3\u521b\u4e1a\u8005\u7f14\u9020\u7684\u6210\u529f\u4f01\u4e1a\u5374\u6709\u53ef\u80fd\u6bc1\u5728\u7ee7\u4efb\u8005\u624b\u4e2d\uff0c\u5fae\u8f6f\u5c31\u662f\u4e00\u4e2a\u5178\u578b\u7684\u4f8b\u5b50\u3002\u5728\u4f01\u4e1a\u6838\u5fc3\u7ade\u4e89\u529b\u8bf8\u591a\u6761\u4ef6\u4e2d\uff0c\u5bf9\u4eba\u7684\u56e0\u7d20\u7684\u8003\u5bdf\u6781\u5176\u91cd\u8981\u3002<\/p>\n
1.4\u00a0\u7ecf\u6d4e\u62a4\u57ce\u6cb3\uff08\u5e02\u573a\u58c1\u5792\uff09<\/p>\n
\u62a4\u57ce\u6cb3\u662f\u4e00\u79cd\u6bd4\u55bb\uff0c\u901a\u5e38\u7528\u5b83\u6765\u5f62\u5bb9\u4f01\u4e1a\u62b5\u5fa1\u7ade\u4e89\u8005\u7684\u8bf8\u591a\u4fdd\u969c\u63aa\u65bd\u3002\u4e0a\u9762\u6240\u8ff0\u7684\u6838\u5fc3\u7ade\u4e89\u529b\u662f\u62a4\u57ce\u6cb3\u7684\u91cd\u8981\u7ec4\u6210\u90e8\u5206\uff0c\u4f46\u4e0d\u662f\u5168\u90e8\uff0c\u6211\u4eec\u8fd8\u53ef\u4ee5\u901a\u8fc7\u5982\u4e0b\u51e0\u4e2a\u6761\u4ef6\u6765\u786e\u8ba4\u4f01\u4e1a\u62a4\u57ce\u6cb3\u7684\u771f\u5047\u548c\u6df1\u6d45\uff1a<\/p>\n
1\uff09\u56de\u62a5\u7387\u3002<\/p>\n
\u4ece\u5386\u53f2\u4e0a\u770b\uff0c\u4f01\u4e1a\u662f\u5426\u62e5\u6709\u53ef\u89c2\u7684\u56de\u62a5\u7387\uff1f\u56de\u62a5\u7387\u4e3b\u8981\u6307\u6bdb\u5229\u6da6\u3001ROE\uff08\u80a1\u4e1c\u6743\u76ca\u56de\u62a5\u7387\uff09\u3001ROA\uff08\u603b\u8d44\u4ea7\u56de\u62a5\u7387\uff09\u548cROIC\uff08\u6295\u5165\u8d44\u672c\u56de\u62a5\u7387\uff09\u3002\u8fd9\u51e0\u79cd\u56de\u62a5\u7387\u6307\u6807\u5206\u522b\u9002\u7528\u4e8e\u4e0d\u540c\u7684\u5546\u4e1a\u6a21\u5f0f\u3002\u91cd\u70b9\u662f\u8981\u4ece\u5546\u4e1a\u903b\u8f91\u4e0a\u5224\u65ad\uff0c\u4f01\u4e1a\u7684\u9ad8\u56de\u62a5\u7387\u662f\u7531\u54ea\u4e9b\u65b9\u9762\u6784\u6210\uff1f\u51b3\u5b9a\u56e0\u7d20\u662f\u90a3\u4e9b\uff1f\u80fd\u5426\u6301\u7eed\uff1f\u4f01\u4e1a\u91c7\u53d6\u4e86\u4f55\u79cd\u63aa\u65bd\u4ee5\u4fdd\u969c\u9ad8\u56de\u62a5\u7387\u7684\u6301\u7eed\u6027\uff1f\u4e3b\u8981\u7684\u91cf\u5316\u5206\u6790\u65b9\u6cd5\u6709\u675c\u90a6\u6cd5\u3001\u6ce2\u7279\u4e94\u529b\u6cd5\u548cSWOT\u6cd5\u3002<\/p>\n
2\uff09\u8f6c\u5316\u6210\u672c\u3002<\/p>\n
\u4f01\u4e1a\u7684\u4ea7\u54c1\u6216\u670d\u52a1\u662f\u5426\u5177\u5907\u8f83\u9ad8\u7684\u8f6c\u5316\u6210\u672c\uff1f\u8f6c\u5316\u6210\u672c\u662f\u6307\uff1a\u7528\u6237\u5f03\u7528\u672c\u516c\u53f8\u4ea7\u54c1\u800c\u4f7f\u7528\u5176\u4ed6\u4f01\u4e1a\u76f8\u7c7b\u4f3c\u4ea7\u54c1\u65f6\u6240\u4ea7\u751f\u7684\u6210\u672c\uff08\u542b\u65f6\u95f4\u6210\u672c\uff09\u4e0e\u4ecd\u65e7\u4f7f\u7528\u672c\u516c\u53f8\u4ea7\u54c1\u6240\u4ea7\u751f\u7684\u6210\u672c\u5dee\u503c\u3002\u8f83\u9ad8\u7684\u8f6c\u5316\u6210\u672c\u6784\u6210\u6392\u4ed6\u6027\uff0c\u5982\u5fae\u4fe1\u548c\u6613\u4fe1\uff0c\u6613\u4fe1\u5728\u672c\u8d28\u4e0a\u4e0e\u5fae\u4fe1\u5dee\u522b\u4e0d\u5927\uff0c\u4f46\u5bf9\u4e8e\u7528\u6237\u6765\u8bf4\u5f03\u7528\u5fae\u4fe1\u800c\u7528\u6613\u4fe1\u5b58\u5728\u8bf8\u591a\u4e0d\u4fbf\uff0c\u5b58\u5728\u8f83\u9ad8\u7684\u8f6c\u5316\uff08\u91cd\u5851\uff09\u6210\u672c\uff0c\u5fae\u4fe1\u56e0\u4e3a\u5148\u53d1\u4f18\u52bf\u5177\u6709\u8f83\u5f3a\u7684\u751f\u547d\u529b\u548c\u5546\u4e1a\u4ef7\u503c\u3002\u5982\u679c\u80fd\u8ba9\u7528\u6237\u4e0d\u9009\u62e9\u7ade\u4e89\u5bf9\u624b\u7684\u4ea7\u54c1\uff0c\u8bf4\u660e\u4f01\u4e1a\u7684\u4ea7\u54c1\u5bf9\u7528\u6237\u6765\u8bf4\u6709\u7c98\u6027\u548c\u4f9d\u8d56\u6027\uff0c\u90a3\u4e48\u8fd9\u5bb6\u4f01\u4e1a\u5c31\u62e5\u6709\u6bd4\u8f83\u9ad8\u7684\u8f6c\u5316\u6210\u672c\u548c\u6392\u4ed6\u6027\u3002\u4e86\u89e3\u4f01\u4e1a\u7684\u8f6c\u5316\u6210\u672c\u5fc5\u987b\u8981\u4ece\u6d88\u8d39\u8005\u548c\u4f7f\u7528\u8005\u7684\u89d2\u5ea6\u8003\u8651\uff0c\u4ece\u5e38\u8bc6\u3001\u4f7f\u7528\u4e60\u60ef\u548c\u5546\u4e1a\u903b\u8f91\u6765\u5224\u65ad\u3002\u8f6c\u5316\u6210\u672c\u4e0d\u5177\u5907\u6c38\u4e45\u6027\uff0c\u987b\u7ed3\u5408\u5b9e\u9645\u60c5\u51b5\u7efc\u5408\u7814\u5224\u3002<\/p>\n
3\uff09\u7f51\u7edc\u6548\u5e94\u3002<\/p>\n
\u4f01\u4e1a\u901a\u8fc7\u54ea\u4e9b\u624b\u6bb5\u9500\u552e\u4ea7\u54c1\uff1f\u5177\u4f53\u5730\u8bf4\uff0c\u662f\u901a\u8fc7\u4eba\u529b\u63a8\u9500\u3001\u4e13\u95e8\u5e97\u9500\u552e\u3001\u8fde\u9501\u52a0\u76df\u8fd8\u662f\u7f51\u5e97\u9500\u552e\uff1f\u5404\u79cd\u9500\u552e\u624b\u6bb5\u5206\u522b\u4e3a\u4f01\u4e1a\u5e26\u6765\u591a\u5c11\u9500\u552e\u989d\uff1f\u4f20\u7edf\u4f01\u4e1a\u5982\u4f55\u5e94\u5bf9\u7535\u5546\uff1f\u4f01\u4e1a\u7684\u7f51\u7edc\u89c4\u6a21\u6548\u5e94\u5982\u4f55\uff1f\u7f51\u7edc\u6548\u5e94\u901a\u5e38\u662f\u6307\u4f01\u4e1a\u7684\u9500\u552e\u6216\u670d\u52a1\u7f51\u7edc\uff0c\u8fd9\u4e9b\u7f51\u7edc\u7684\u5b58\u5728\u4e3a\u7528\u6237\u63d0\u4f9b\u4e86\u4fbf\u5229\uff0c\u4ee5\u7528\u6237\u4e3a\u4e2d\u5fc3\u7684\u4fbf\u6377\u6027\u5c31\u80fd\u4ea7\u751f\u7c98\u6027\u3002\u968f\u7740\u7528\u6237\u6570\u91cf\u7684\u589e\u52a0\uff0c\u4f01\u4e1a\u7684\u4ef7\u503c\u4e5f\u9010\u6e10\u7531\u4e8e\u7f51\u7edc\u548c\u89c4\u6a21\u7684\u6269\u5927\u800c\u4e0d\u65ad\u653e\u5927\u3002\u6bd4\u5982\uff0c\u5c31\u5168\u56fd\u8303\u56f4\u6765\u8bf4\uff0c\u5de5\u5546\u94f6\u884c\u7684\u8425\u4e1a\u7f51\u70b9\u904d\u5e03\u5168\u56fd\u5927\u8857\u5c0f\u5df7\uff0c\u751a\u81f3\u5728\u56fd\u5916\u4e3b\u8981\u57ce\u5e02\u4e5f\u6709\u7f51\u7edc\u5206\u5e03\u3002\u76f8\u6bd4\u800c\u8a00\uff0c\u5b83\u6bd4\u5730\u533a\u6027\u94f6\u884c\u5177\u6709\u66f4\u5927\u66f4\u5e7f\u7684\u7f51\u7edc\u6548\u5e94\uff0c\u56e0\u6b64\uff0c\u5de5\u5546\u94f6\u884c\u7684\u7528\u6237\u66f4\u591a\uff0c\u5176\u4f01\u4e1a\u4ef7\u503c\u4e5f\u76f8\u5bf9\u66f4\u9ad8\u3002<\/p>\n
4\uff09\u6210\u672c\u4e0e\u8fb9\u9645\u6210\u672c<\/p>\n
\u4f01\u4e1a\u7684\u6210\u672c\u6784\u6210\u662f\u600e\u6837\u7684\uff1f\u6210\u672c\u7684\u51b3\u5b9a\u56e0\u7d20\u6709\u54ea\u4e9b\uff1f\u4f01\u4e1a\u7684\u6210\u672c\u80fd\u5426\u505a\u5230\u884c\u4e1a\u6700\u4f4e\uff1f\u5982\u4f55\u505a\u5230\uff1f\u5355\u4f4d\u6210\u672c\u80fd\u4e0d\u80fd\u968f\u7740\u9500\u552e\u89c4\u6a21\u6269\u5927\u800c\u4e0b\u964d\uff1f\u4f01\u4e1a\u8981\u60f3\u957f\u4e45\u5730\u4fdd\u6301\u6210\u672c\u4f18\u52bf\u5e76\u4e0d\u5bb9\u6613\uff0c\u5b83\u9700\u8981\u6709\u4f18\u4e8e\u5bf9\u624b\u7684\u8d44\u6e90\u6e20\u9053\uff08\u539f\u6750\u6599\u4f18\u52bf\uff09\u4ee5\u53ca\u66f4\u4f18\u8d8a\u7684\u751f\u4ea7\u5de5\u827a\uff08\u6d41\u7a0b\u4f18\u52bf\uff09\uff0c\u66f4\u4f18\u8d8a\u7684\u5730\u7406\u4f4d\u7f6e\uff08\u7269\u6d41\u4f18\u52bf\uff09\uff0c\u66f4\u5f3a\u5927\u7684\u5e02\u573a\u89c4\u6a21\uff08\u89c4\u6a21\u4f18\u52bf\uff09\uff0c\u751a\u81f3\u662f\u66f4\u4f4e\u7684\u4eba\u529b\u6210\u672c\u3002\u4f4e\u6210\u672c\u7684\u53e6\u4e00\u9762\u5c31\u662f\u9ad8\u6bdb\u5229\uff0c\u9ad8\u6bdb\u5229\u5c31\u662f\u4e00\u79cd\u5f3a\u52bf\u7ade\u4e89\u529b\u7684\u4f53\u73b0\uff0c\u9ad8\u6bdb\u5229\u7684\u4f01\u4e1a\u901a\u5e38\u5177\u6709\u5b9a\u4ef7\u6743\u3002<\/p>\n
5\uff09\u54c1\u724c\u6548\u5e94\u3002<\/p>\n
\u4ea7\u54c1\u6216\u670d\u52a1\u662f\u5426\u5177\u6709\u54c1\u724c\u6548\u5e94\uff1f\u4e8b\u5b9e\u4e0a\uff0c\u5bf9\u4e8e\u5927\u591a\u6570\u7528\u6237\u800c\u8a00\uff0c\u4ed6\u4eec\u5bf9\u4e8e\u54c1\u724c\u7684\u654f\u611f\u5ea6\u8fdc\u4e0d\u5982\u5bf9\u4ef7\u683c\u7684\u654f\u611f\u5ea6\u90a3\u4e48\u9ad8\uff0c\u4ef7\u683c\u662f\u6307\u5bfc\u8d2d\u4e70\u884c\u4e3a\u7684\u7b2c\u4e00\u8981\u7d20\u3002\u54c1\u724c\u7684\u610f\u4e49\u5728\u4e8e\u5b83\u80fd\u591f\u53cd\u6620\u51fa\u4ea7\u54c1\u6216\u670d\u52a1\u7684\u5dee\u5f02\u6027\u3001\u8d28\u91cf\u3001\u54c1\u4f4d\u548c\u53e3\u7891\u3002\u54c1\u724c\u7684\u4ef7\u503c\u5728\u4e8e\u5b83\u80fd\u591f\u6539\u53d8\u6d88\u8d39\u8005\u7684\u8d2d\u4e70\u884c\u4e3a\uff0c\u4ece\u800c\u4e3a\u4f01\u4e1a\u5e26\u6765\u9ad8\u4e8e\u5e73\u5747\u6c34\u5e73\u7684\u9644\u52a0\u503c\u3002\u56e0\u6b64\uff0c\u5177\u6709\u54c1\u724c\u6548\u5e94\u7684\u4ea7\u54c1\u6216\u670d\u52a1\u5e94\u8be5\u5177\u6709\u5982\u4e0b\u7279\u5f81\uff1a<\/p>\n
A.\u00a0\u5177\u6709\u5f88\u5f3a\u7684\u8fa8\u8bc6\u5ea6\u3002<\/p>\n
B.\u00a0\u662f\u4fe1\u4efb\u3001\u4f9d\u8d56\u548c\u6ee1\u8db3\u611f\u3002<\/p>\n
C.\u00a0\u9ad8\u4e8e\u4e00\u822c\u6c34\u5e73\u7684\u552e\u4ef7\u3002<\/p>\n
D.\u00a0\u662f\u4f01\u4e1a\u7684\u6587\u5316\u548c\u4ef7\u503c\u89c2\u3002<\/p>\n
E.\u00a0\u5bf9\u4e8e\u6d88\u8d39\u8005\u6765\u8bf4\u662f\u4e00\u79cd\u4f18\u5148\u8d2d\u4e70\u7684\u9009\u62e9\u3002<\/p>\n
6\uff09\u4f01\u4e1a\u91c7\u53d6\u4e86\u90a3\u4e9b\u63aa\u65bd\u6765\u4fdd\u6301\u4ee5\u4e0a\u8fd9\u4e9b\u4f18\u52bf\uff08\u62a4\u57ce\u6cb3\uff09\u4e0d\u88ab\u4fb5\u8680\uff1f<\/p>\n
1.5\u00a0\u6210\u957f\u6027<\/p>\n
\u6210\u957f\u6027\u4fa7\u91cd\u672a\u6765\u7684\u6210\u957f\uff0c\u800c\u4e0d\u662f\u8fc7\u53bb\uff0c\u8981\u4ece\u5929\u82b1\u677f\u7406\u8bba\u7740\u773c\u770b\u8fdc\u666f\u3002\u6210\u957f\u6027\u9700\u8981\u5b9a\u6027\u3001\u800c\u65e0\u6cd5\u7cbe\u786e\u5730\u5b9a\u91cf\u5206\u6790\u3002\u5bf9\u4e8e\u65b0\u5174\u884c\u4e1a\u6765\u8bf4\uff0c\u5386\u53f2\u6570\u636e\u7684\u53c2\u8003\u610f\u4e49\u4e0d\u5927\u3002\u800c\u5bf9\u4e8e\u6210\u719f\u884c\u4e1a\u6765\u8bf4\uff0c\u8f83\u957f\u65f6\u95f4\u7684\u5386\u53f2\u6570\u636e\uff08\u6700\u597d\u6db5\u76d6\u4e00\u4e2a\u5b8c\u6574\u7684\u7ecf\u6d4e\u5468\u671f\uff09\u80fd\u591f\u63d0\u4f9b\u4e00\u4e9b\u7ebf\u7d22\uff0c\u4f5c\u4e3a\u53c2\u8003\u8fd8\u662f\u5f88\u6709\u5fc5\u8981\u7684\u3002<\/p>\n
\u6536\u5165\u662f\u5229\u6da6\u7684\u5148\u884c\u6307\u6807\u3002<\/p>\n
A.\u00a0\u6536\u5165\u589e\u957f\u60c5\u51b5<\/p>\n
B.\u00a0\u4e3b\u8425\u4e1a\u52a1\u7684\u53d8\u5316<\/p>\n
C.\u00a0\u4e3b\u8981\u5ba2\u6237\u9500\u552e\u989d\u5206\u6790<\/p>\n
D.\u00a0\u4e3b\u8981\u7ade\u4e89\u5bf9\u624b\u6bd4\u8f83<\/p>\n
\u6bdb\u5229\u7387\u6c34\u5e73\u4f53\u73b0\u4e86\u4f01\u4e1a\u7684\u7ade\u4e89\u529b\u3002<\/p>\n
A.\u00a0\u6bdb\u5229\u7387\u6c34\u5e73<\/p>\n
B.\u00a0\u6210\u672c\u6784\u6210<\/p>\n
\u51c0\u5229\u6da6\u7684\u6c34\u4efd<\/p>\n
A.\u00a0\u7ecf\u8425\u6027\u5229\u6da6\uff08\u5254\u9664\u6295\u8d44\u6536\u76ca\u3001\u516c\u5141\u503c\u53d8\u52a8\u6536\u76ca\u4ee5\u53ca\u8425\u4e1a\u5916\u6536\u76ca\u540e\u7684\u5229\u6da6\uff09<\/p>\n
B.\u00a0\u771f\u5b9e\u7684\u51c0\u5229\u6da6\uff08\u7ecf\u8425\u6027\u5229\u6da6-\u6240\u5f97\u7a0e\uff09<\/p>\n
\u6536\u5165\u4e0e\u5229\u6da6\u7684\u542b\u91d1\u91cf<\/p>\n
A.\u00a0\u73b0\u91d1\u6536\u5165\u7387\uff08\u9500\u552e\u5546\u54c1\u6216\u63d0\u4f9b\u52b3\u52a1\u6536\u5230\u7684\u73b0\u91d1\/\u6536\u5165\uff09<\/p>\n
B.\u00a0\u7ecf\u8425\u73b0\u91d1\u7387\uff08\u7ecf\u8425\u6d3b\u52a8\u4ea7\u751f\u7684\u73b0\u91d1\u6d41\u91cf\u51c0\u989d\/\u6536\u5165\uff09<\/p>\n
C.\u00a0\u81ea\u7531\u73b0\u91d1Free\u00a0Cash\u00a0Flow\uff08\u81ea\u7531\u73b0\u91d1=\u8fd0\u8425\u73b0\u91d1\u6d41-\u8d44\u672c\u652f\u51fa\uff09<\/p>\n
D.\u00a0\u81ea\u7531\u73b0\u91d1\/\u4f01\u4e1a\u4ef7\u503c\uff08FCF\/EV\uff0c\u4f01\u4e1a\u4ef7\u503c=\u5e02\u503c+\u6709\u606f\u503a\u52a1\uff09<\/p>\n
\u6ce8\uff1a\u81ea\u7531\u73b0\u91d1\u548c\u4f01\u4e1a\u4ef7\u503c\u7684\u8ba1\u7b97\u65b9\u5f0f\u53ef\u53c2\u8003\u667a\u5e93\u767e\u79d1\u3002<\/p>\n
1.6\u00a0\u56de\u62a5\u7387\u6c34\u5e73<\/p>\n
1\uff09ROE\uff08\u80a1\u4e1c\u6743\u76ca\u56de\u62a5\u7387\uff0c\u6216\u51c0\u8d44\u4ea7\u6536\u76ca\u7387\uff09<\/p>\n
2\uff09ROA\uff08\u603b\u8d44\u4ea7\u56de\u62a5\u7387\uff09<\/p>\n
3\uff09ROIC\uff08\u6295\u5165\u8d44\u672c\u56de\u62a5\u7387\uff09<\/p>\n
\u6ce8\uff1a\u4ee5\u4e0a\u4e09\u4e2a\u56de\u62a5\u7387\u6307\u6807\u7684\u8ba1\u7b97\u65b9\u6cd5\u53c2\u8003\u667a\u5e93\u767e\u79d1\u6216\u76f8\u5173\u6559\u79d1\u4e66\u3002\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0c\u5728\u8ba1\u7b97\u8fc7\u7a0b\u4e2d\u987b\u5bf9\u6d89\u53ca\u51c0\u5229\u6da6\u548c\u51c0\u8d44\u4ea7\u7684\u9879\u76ee\u8fdb\u884c\u62c6\u89e3\uff0c\u83b7\u53d6\u5c5e\u4e8e\u7ecf\u8425\u6d3b\u52a8\u7684\u771f\u5b9e\u6570\u503c\u3002\u51c0\u5229\u6da6\u7684\u62c6\u89e3\u89c1\u4e0a\u4e00\u8282\u201c\u771f\u5b9e\u7684\u51c0\u5229\u6da6\u201d\uff0c\u51c0\u8d44\u4ea7\u7684\u62c6\u89e3\u5206\u6790\u4e2d\u5fc5\u987b\u5254\u9664\u8d44\u4ea7\u9879\u4e2d\u4e0e\u4f01\u4e1a\u7ecf\u8425\u6d3b\u52a8\u65e0\u5173\u7684\u5185\u5bb9\u3002<\/p>\n
4\uff09\u675c\u90a6\u6cd5<\/p>\n
5\uff09\u6ce2\u7279\u4e94\u529b\u6cd5<\/p>\n
6\uff09SWOT\u6cd5<\/p>\n
1.7\u00a0\u5b89\u5168\u6027\uff1a\u5173\u952e\u662f\u73b0\u91d1\u6d41\u4e0e\u73b0\u91d1\u50a8\u5907\u3002<\/p>\n
\u8d44\u4ea7\u7ed3\u6784<\/p>\n
A.\u00a0\u73b0\u91d1\u8d44\u4ea7\uff0c\u8d44\u4ea7\u4e2d\u73b0\u91d1\u53ca\u73b0\u91d1\u7b49\u4ef7\u7269\u7684\u6bd4\u91cd\uff0c\u4ee3\u8868\u4e86\u4f01\u4e1a\u7684\u73b0\u91d1\u50a8\u5907\u3002<\/p>\n
B.\u00a0\u53ef\u8f6c\u6362\u73b0\u91d1\u8d44\u4ea7\uff0c\u5305\u62ec\u91d1\u878d\u8d44\u4ea7\u3001\u4ea4\u6613\u6027\u8d44\u4ea7\u548c\u6295\u8d44\u6027\u8d44\u4ea7\u7b49\u7b49\u3002<\/p>\n
C.\u00a0\u7ecf\u8425\u6027\u8d44\u4ea7<\/p>\n
\u8d1f\u503a\u7ed3\u6784<\/p>\n
A.\u00a0\u6709\u606f\u8d1f\u503a<\/p>\n
B.\u00a0\u65e0\u606f\u8d1f\u503a<\/p>\n
\u8fd0\u8425\u8d44\u672c\u4e0e\u8d44\u672c\u6d41\u8f6c<\/p>\n
A.\u00a0\u5e94\u6536\u8d26\u6b3e\u4e0e\u4e3b\u8981\u6b20\u6b3e\u65b9<\/p>\n
B.\u00a0\u5b58\u8d27\u6784\u6210<\/p>\n
C.\u00a0\u8d44\u672c\u6d41\u8f6c\u60c5\u51b5\uff0c\u5373\uff1a\u672c\u671f\u8fd0\u8425\u8d44\u672c\u53d8\u52a8\u4e0e\u4e0a\u4e00\u671f\u8fd0\u8425\u8d44\u672c\u53d8\u52a8\u7684\u5dee\u503c\u3002<\/p>\n
\u8fd0\u8425\u8d44\u672c\u53d8\u52a8=\uff08\u9884\u6536+\u5e94\u4ed8\uff09-\uff08\u5e94\u6536+\u9884\u4ed8+\u5b58\u8d27\uff09<\/p>\n
D.\u00a0\u7528\u522b\u4eba\u7684\u94b1\u8d5a\u94b1\u3002\u5177\u4f53\u6765\u8bf4\u5c31\u662f\u4f01\u4e1a\u7684\u8fd0\u8425\u8d44\u672c\u53d8\u52a8\u4e3a\u6b63\u503c\uff0c\u5373\uff1a\uff08\u9884\u6536+\u5e94\u4ed8\uff09>\uff08\u5e94\u6536+\u9884\u4ed8+\u5b58\u8d27\uff09\uff0c\u4e0a\u6e38\u5ba2\u6237\u7684\u5e94\u4ed8\u6b3e\u4e0e\u4e0b\u6e38\u5ba2\u6237\u7684\u9884\u6536\u6b3e\u76f8\u5f53\u4e8e\u4e00\u7b14\u65e0\u606f\u8d37\u6b3e\uff0c\u6ee1\u8db3\u4e86\u4f01\u4e1a\u6b63\u5e38\u8fd0\u4f5c\u6240\u9700\u7684\u6d41\u52a8\u8d44\u672c\u3002\u8fd9\u662f\u4e00\u79cd\u6bd4\u8f83\u7279\u522b\u7684\u5546\u4e1a\u6a21\u5f0f\uff0c\u5982\uff1a\u82cf\u5b81\u7535\u5668\u548c\u56fd\u7f8e\u7535\u5668\u3002\u8fd9\u79cd\u5546\u4e1a\u6a21\u5f0f\u663e\u793a\u51fa\u4f01\u4e1a\u5728\u5e02\u573a\u4e2d\u7684\u5f3a\u52bf\u5730\u4f4d\u3002<\/p>\n
E.\u00a0\u4fe1\u7528\u3002\u8fd9\u91cc\u7684\u4fe1\u7528\u662f\u6307\u7968\u636e\u4fe1\u7528\u3002\u7968\u636e\u662f\u4e00\u79cd\u4fe1\u7528\u878d\u8d44\uff0c\u4f01\u4e1a\u7684\u5e94\u6536\u7968\u636e\u662f\u5bf9\u4e0b\u6e38\u5ba2\u6237\u7684\u4fe1\u7528\uff0c\u5e94\u4ed8\u7968\u636e\u4f53\u73b0\u4e86\u4e0a\u6e38\u5ba2\u6237\u7ed9\u4e88\u4f01\u4e1a\u7684\u4fe1\u7528\u3002\u7968\u636e\u4fe1\u7528\u53cd\u6620\u4e86\u4f01\u4e1a\u4e0e\u4e0a\u4e0b\u6e38\u5408\u4f5c\u65b9\u4e4b\u95f4\u7684\u5173\u7cfb\u548c\u5730\u4f4d\uff0c\u4e5f\u662f\u4e00\u79cd\u5546\u4e1a\u6a21\u5f0f\u3002<\/p>\n
\u73b0\u91d1\u6d41\u662f\u8bc4\u4f30\u4f01\u4e1a\u7ade\u4e89\u529b\u7684\u5173\u952e\u6307\u6807\uff0c\u56e0\u4e3a\u5229\u6da6\u53ef\u4ee5\u88ab\u7c89\u9970\uff0c\u5176\u7ed3\u679c\u7684\u6c34\u5206\u8f83\u591a\u3002\u7ecf\u8425\u73b0\u91d1\u6d41\u6301\u7eed\u4e3a\u6b63\u7684\u4f01\u4e1a\u5177\u5907\u7814\u53d1\u548c\u6295\u8d44\u5b9e\u529b\u3002\u5927\u81f4\u53ef\u5206\u4e3a\u51e0\u79cd\u60c5\u51b5\uff1a<\/p>\n
A.\u00a0\u73b0\u91d1\u589e\u52a0\u503c\u548c\u7ecf\u8425\u73b0\u91d1\u6d41\u90fd\u662f\u6b63\u503c——–\u4f01\u4e1a\u5f88\u5b89\u5168\u3002<\/p>\n
B.\u00a0\u73b0\u91d1\u589e\u52a0\u503c\u4e3a\u6b63\u6216\u8005\u76f8\u62b5\uff0c\u7ecf\u8425\u73b0\u91d1\u6d41\u4e3a\u8d1f\u503c\u3002\u8868\u660e\u7b79\u8d44\u3001\u53d1\u503a\u6216\u8005\u94f6\u884c\u501f\u6b3e\u7684\u73b0\u91d1\u6d41\u5165\u62b5\u6d88\u7ecf\u8425\u73b0\u91d1\u652f\u51fa\u3002\u4f01\u4e1a\u8fd8\u7b97\u7a33\u5065\u3002\u987b\u7ed3\u5408\u5229\u7387\u6c34\u5e73\u8bc4\u4f30\u4f01\u4e1a\u6709\u53ef\u80fd\u5b58\u5728\u7684\u8d22\u52a1\u98ce\u9669\u3002<\/p>\n
C.\u00a0\u73b0\u91d1\u589e\u52a0\u503c\u548c\u7ecf\u8425\u73b0\u91d1\u6d41\u4e3a\u90fd\u4e3a\u8d1f\u503c\uff0c\u8868\u660e\u516c\u53f8\u5b58\u5728\u8d22\u52a1\u95ee\u9898\u3002\u5f53\u7136\u5bf9\u4e8e\u5bb6\u516c\u53f8\u7684\u5224\u65ad\u8981\u770b\u5176\u53d1\u5c55\u8d8b\u52bf\uff0c\u8981\u770b\u6838\u5fc3\u7ade\u4e89\u529b\u548c\u5e02\u573a\u58c1\u5792\u3002\u6bd4\u5982Facebook\u3002\u5982\u679c\u662f\u4f20\u7edf\u578b\u4f01\u4e1a\u8fd8\u662f\u89c4\u907f\u4e3a\u597d\u3002<\/p>\n
D.\u00a0\u73b0\u91d1\u589e\u52a0\u503c\u4e3a\u8d1f\u503c\uff0c\u4f46\u7ecf\u8425\u73b0\u91d1\u6d41\u4e3a\u6b63\u503c\u3002\u8bf4\u660e\u4f01\u4e1a\u6709\u6295\u8d44\u3001\u7814\u53d1\u6216\u8005\u8fd8\u503a\u652f\u51fa\u3002\u8fd9\u79cd\u60c5\u51b5\u987b\u5177\u4f53\u5206\u6790\u3002\u91cd\u70b9\u8981\u5224\u65ad\u6d88\u8017\u73b0\u91d1\u7684\u4e3b\u56e0\u662f\u54ea\u4e00\u90e8\u5206\uff08\u6295\u8d44\u8fd8\u662f\u7b79\u8d44\uff09\u3002\u6700\u4e0d\u7406\u60f3\u7684\u72b6\u51b5\u662f\u73b0\u91d1\u4ec5\u4ec5\u7528\u4e8e\u8fd8\u503a\uff0c\u6295\u8d44\u4ef7\u503c\u4e0d\u5927\u3002<\/p>\n
\u3000\u3000<\/b><\/p>\n
\u7b2c\u4e8c\u90e8\u5206\uff1a\u4f30\u503c<\/b><\/p>\n
2.1\u00a0\u4f01\u4e1a\u7684\u5546\u4e1a\u6a21\u5f0f\u51b3\u5b9a\u4e86\u4f30\u503c\u6a21\u5f0f<\/p>\n
1\uff09\u91cd\u8d44\u4ea7\u578b\u4f01\u4e1a\uff08\u5982\u4f20\u7edf\u5236\u9020\u4e1a\uff09\uff0c\u4ee5\u51c0\u8d44\u4ea7\u4f30\u503c\u65b9\u5f0f\u4e3a\u4e3b\uff0c\u76c8\u5229\u4f30\u503c\u65b9\u5f0f\u4e3a\u8f85\u3002<\/p>\n
2\uff09\u8f7b\u8d44\u4ea7\u578b\u4f01\u4e1a\uff08\u5982\u670d\u52a1\u4e1a\uff09\uff0c\u4ee5\u76c8\u5229\u4f30\u503c\u65b9\u5f0f\u4e3a\u4e3b\uff0c\u51c0\u8d44\u4ea7\u4f30\u503c\u65b9\u5f0f\u4e3a\u8f85\u3002<\/p>\n
3\uff09\u4e92\u8054\u7f51\u4f01\u4e1a\uff0c\u4ee5\u7528\u6237\u6570\u3001\u70b9\u51fb\u6570\u548c\u5e02\u573a\u4efd\u989d\u4e3a\u8fdc\u666f\u8003\u91cf\uff0c\u4ee5\u5e02\u9500\u7387\u4e3a\u4e3b\u3002<\/p>\n
4\uff09\u65b0\u5174\u884c\u4e1a\u548c\u9ad8\u79d1\u6280\u4f01\u4e1a\uff0c\u4ee5\u5e02\u573a\u4efd\u989d\u4e3a\u8fdc\u666f\u8003\u91cf\uff0c\u4ee5\u5e02\u9500\u7387\u4e3a\u4e3b\u3002<\/p>\n
2.2\u00a0\u5e02\u503c\u4e0e\u4f01\u4e1a\u4ef7\u503c<\/p>\n
1\uff09\u65e0\u8bba\u4f7f\u7528\u54ea\u4e00\u79cd\u4f30\u503c\u65b9\u6cd5\uff0c\u5e02\u503c\u90fd\u662f\u4e00\u79cd\u6700\u6709\u6548\u7684\u53c2\u7167\u7269\u3002<\/p>\n
2\uff09\u5e02\u503c=\u80a1\u4ef7*\u603b\u80a1\u4efd\u6570\uff0c\u5e02\u503c\u7684\u610f\u4e49\u4e0d\u7b49\u540c\u4e8e\u80a1\u4ef7\u7684\u542b\u4e49\u3002<\/p>\n
\u5e02\u503c\u88ab\u770b\u505a\u662f\u5e02\u573a\u6295\u8d44\u8005\u5bf9\u4f01\u4e1a\u4ef7\u503c\u7684\u8ba4\u53ef\uff0c\u4fa7\u91cd\u4e8e\u76f8\u5bf9\u7684\u201c\u91cf\u7ea7\u201d\u800c\u975e\u7edd\u5bf9\u503c\u7684\u9ad8\u4f4e\u3002\u56fd\u9645\u5e02\u573a\u4e0a\u901a\u5e38\u4ee5100\u4ebf\u7f8e\u5143\u5e02\u503c\u4f5c\u4e3a\u4f18\u79c0\u7684\u6210\u719f\u5927\u578b\u4f01\u4e1a\u7684\u91cf\u7ea7\u6807\u51c6\uff0c500\u4ebf\u7f8e\u5143\u5e02\u503c\u5219\u662f\u4e00\u4e2a\u56fd\u9645\u5316\u8d85\u5927\u578b\u4f01\u4e1a\u7684\u91cf\u7ea7\u6807\u51c6\uff0c\u800c\u5343\u4ebf\u5e02\u503c\u5219\u8c61\u5f81\u7740\u4f01\u4e1a\u81f3\u9ad8\u65e0\u4e0a\u7684\u5730\u4f4d\u3002\u5e02\u503c\u7684\u610f\u4e49\u5728\u4e8e\u91cf\u7ea7\u6bd4\u8f83\uff0c\u800c\u975e\u7edd\u5bf9\u503c\u3002<\/p>\n
3\uff09\u5e02\u503c\u6bd4\u8f83\u3002<\/p>\n
A.\u00a0\u65e2\u7136\u5e02\u503c\u4f53\u73b0\u7684\u662f\u4f01\u4e1a\u7684\u91cf\u7ea7\uff0c\u90a3\u4e48\u540c\u7c7b\u4f01\u4e1a\u7684\u91cf\u7ea7\u5bf9\u6bd4\u5c31\u975e\u5e38\u5177\u6709\u5e02\u573a\u610f\u4e49\u3002\u4f8b\u5982\uff1a\u540c\u6837\u662f\u5f71\u89c6\u5236\u4f5c\u4e0e\u53d1\u884c\u4f01\u4e1a\uff0c\u56fd\u5185\u534e\u8c0a\u5144\u5f1f\u5e02\u503c419\u4ebf\u4eba\u6c11\u5e01\uff0c\u6298\u5408\u7ea668\u4ebf\u7f8e\u5143\uff0c\u800c\u7f8e\u56fd\u68a6\u5de5\u5382\uff08DWA\uff09\u5e02\u503c25\u4ebf\u7f8e\u5143\u3002\u53e6\u5916\uff0c\u534e\u8c0a\u5144\u5f1f2012\u5e74\u6536\u5165\u4e3a13\u4ebf\u4eba\u6c11\u5e01\uff082.12\u4ebf\u7f8e\u5143\uff09\uff0c\u540c\u671f\u68a6\u5de5\u5382\u6536\u5165\u4e3a2.13\u4ebf\u7f8e\u5143\u3002\u8fd9\u4e24\u5bb6\u516c\u53f8\u7684\u6536\u5165\u5728\u4e00\u4e2a\u91cf\u7ea7\u4e0a\uff0c\u800c\u5e02\u503c\u91cf\u7ea7\u5374\u4e0d\u5728\u4e00\u4e2a\u6c34\u5e73\u4e0a\u3002\u7531\u6b64\u63a8\u6d4b\uff0c\u534e\u8c0a\u5144\u5f1f\u53ef\u80fd\u88ab\u4e25\u91cd\u9ad8\u4f30\u3002\u5f53\u7136\uff0c\u9ad8\u4f30\u503c\u4f53\u73b0\u4e86\u5e02\u573a\u9884\u671f\u5b9a\u4ef7\uff0c\u9ad8\u4f30\u4f4e\u4f30\u4e0d\u6784\u6210\u4e70\u5356\u4f9d\u636e\uff0c\u4f46\u8fd9\u662f\u4e00\u4e2a\u8b66\u793a\u4fe1\u53f7\u3002\u7cbe\u660e\u7684\u6295\u8d44\u8005\u53ef\u4ee5\u91c7\u53d6\u5bf9\u51b2\u5957\u5229\u7b56\u7565\u3002<\/p>\n
B.\u00a0\u5e38\u89c1\u7684\u5e02\u503c\u6bd4\u8f83\u53c2\u7167\u7269\uff1a<\/p>\n
a\uff09\u540c\u80a1\u540c\u6743\u7684\u8de8\u5e02\u573a\u6bd4\u4ef7\uff0c\u540c\u4e00\u5bb6\u516c\u53f8\u5728\u4e0d\u540c\u5e02\u573a\u4e0a\u7684\u5e02\u503c\u6bd4\u8f83\u3002\u5982\uff1aAH\u80a1\u6bd4\u4ef7\u3002<\/p>\n
b\uff09\u540c\u7c7b\u4f01\u4e1a\u5e02\u503c\u6bd4\u4ef7\uff0c\u4e3b\u8425\u4e1a\u52a1\u57fa\u672c\u76f8\u540c\u7684\u4f01\u4e1a\u6bd4\u8f83\u3002\u5982\u4e09\u4e00\u91cd\u5de5\u4e0e\u4e2d\u8054\u91cd\u79d1\u6bd4\u8f83\u3002<\/p>\n
c\uff09\u76f8\u4f3c\u4e1a\u52a1\u4f01\u4e1a\u5e02\u503c\u6bd4\u4ef7\uff0c\u4e3b\u8425\u4e1a\u52a1\u6709\u90e8\u5206\u76f8\u540c\uff0c\u987b\u5c06\u4e1a\u52a1\u62c6\u5206\u540e\u505a\u540c\u7c7b\u6bd4\u8f83\u3002\u5982\u4e0a\u6d77\u5bb6\u5316\u4e0e\u8054\u5408\u5229\u534e\u6bd4\u8f83\u3002<\/p>\n
4\uff09\u4f01\u4e1a\u4ef7\u503c\uff08EV,\u00a0Enterprise\u00a0Value\uff09\u3002\u4f01\u4e1a\u4ef7\u503c=\u5e02\u503c+\u51c0\u8d1f\u503a\u3002EV\u7684\u7edd\u5bf9\u503c\u53c2\u8003\u610f\u4e49\u4e0d\u5927\uff0c\u5b83\u901a\u5e38\u4e0e\u76c8\u5229\u6307\u6807\u7ec4\u5408\uff0c\u7528\u6765\u53cd\u6620\u4f01\u4e1a\u76c8\u5229\u3001\u51c0\u8d1f\u503a\u4e0e\u5e02\u503c\u4e4b\u95f4\u7684\u5173\u7cfb\u3002\u5982\uff1aEBITDA\/EV\u6307\u6807\u7528\u6765\u6bd4\u8f83\u76f8\u8fd1\u4f01\u4e1a\u4ef7\u503c\u7684\u4f01\u4e1a\u7684\u83b7\u5229\u80fd\u529b\u3002<\/p>\n
2.3\u00a0\u4f30\u503c\u65b9\u6cd5<\/p>\n
1\uff09\u5e02\u503c\/\u51c0\u8d44\u4ea7\uff08P\/B\uff09\uff0c\u5e02\u51c0\u7387\u3002<\/p>\n
A.\u00a0\u8003\u5bdf\u51c0\u8d44\u4ea7\u5fc5\u987b\u660e\u786e\u6709\u65e0\u91cd\u5927\u8fdb\u51fa\u62a5\u8868\u7684\u9879\u76ee\u3002<\/p>\n
B.\u00a0\u51c0\u8d44\u4ea7\u8981\u505a\u5254\u9664\u5904\u7406\uff0c\u4ee5\u53cd\u6620\u4f01\u4e1a\u771f\u5b9e\u7684\u7ecf\u8425\u6027\u8d44\u4ea7\u7ed3\u6784\u3002\u5e02\u51c0\u7387\u8981\u5728\u6bd4\u8f83\u4e2d\u624d\u6709\u610f\u4e49\uff0c\u7edd\u5bf9\u503c\u65e0\u610f\u4e49\u3002<\/p>\n
C.\u00a0\u627e\u51fa\u4f01\u4e1a\u5728\u76f8\u5f53\u957f\u7684\u65f6\u95f4\u6bb5\u5185\u7684\u5386\u53f2\u6700\u4f4e\u3001\u6700\u9ad8\u548c\u5e73\u5747\u4e09\u6863\u5e02\u51c0\u7387\u533a\u95f4\u3002\u8003\u5bdf\u5468\u671f\u81f3\u5c115\u5e74\u6216\u4e00\u4e2a\u5b8c\u6574\u7ecf\u6d4e\u5468\u671f\u3002\u82e5\u662f\u65b0\u4e0a\u5e02\u4f01\u4e1a\uff0c\u5fc5\u987b\u6709\u81f3\u5c113\u5e74\u7684\u4ea4\u6613\u5386\u53f2\u3002<\/p>\n
D.\u00a0\u627e\u51fa\u540c\u884c\u4e1a\u5177\u6709\u8f83\u957f\u4ea4\u6613\u5386\u53f2\u7684\u4f01\u4e1a\u505a\u5bf9\u6bd4\uff0c\u660e\u786e\u4e09\u6863\u5e02\u51c0\u7387\u533a\u95f4\u3002<\/p>\n
2\uff09\u5e02\u503c\/\u51c0\u5229\u6da6\uff08P\/E\uff09\uff0c\u5e02\u76c8\u7387\u3002<\/p>\n
A.\u00a0\u8003\u5bdf\u51c0\u5229\u6da6\u5fc5\u987b\u660e\u786e\u6709\u65e0\u91cd\u5927\u8fdb\u51fa\u62a5\u8868\u7684\u9879\u76ee\u3002<\/p>\n
B.\u00a0\u51c0\u5229\u6da6\u8981\u505a\u5254\u9664\u5904\u7406\uff0c\u4ee5\u53cd\u6620\u4f01\u4e1a\u771f\u5b9e\u7684\u51c0\u5229\u6da6\u3002\u5e02\u76c8\u7387\u8981\u5728\u6bd4\u8f83\u4e2d\u624d\u6709\u610f\u4e49\uff0c\u7edd\u5bf9\u503c\u65e0\u610f\u4e49\u3002<\/p>\n
C.\u00a0\u627e\u51fa\u4f01\u4e1a\u5728\u76f8\u5f53\u957f\u7684\u65f6\u95f4\u6bb5\u5185\u7684\u5386\u53f2\u6700\u4f4e\u6700\u9ad8\u548c\u5e73\u5747\u4e09\u6863\u5e02\u76c8\u7387\u533a\u95f4\u3002\u8003\u5bdf\u5468\u671f\u81f3\u5c115\u5e74\u6216\u4e00\u4e2a\u5b8c\u6574\u7ecf\u6d4e\u5468\u671f\u3002\u82e5\u662f\u65b0\u4e0a\u5e02\u4f01\u4e1a\uff0c\u5fc5\u987b\u6709\u81f3\u5c113\u5e74\u7684\u4ea4\u6613\u5386\u53f2\u3002<\/p>\n
D.\u00a0\u627e\u51fa\u540c\u884c\u4e1a\u5177\u6709\u8f83\u957f\u4ea4\u6613\u5386\u53f2\u7684\u4f01\u4e1a\u505a\u5bf9\u6bd4\uff0c\u660e\u786e\u4e09\u6863\u5e02\u76c8\u7387\u533a\u95f4\u3002<\/p>\n
3\uff09\u5e02\u503c\/\u9500\u552e\u989d\uff08P\/S\uff09\uff0c\u5e02\u9500\u7387\u3002<\/p>\n
A.\u00a0\u9500\u552e\u989d\u987b\u660e\u786e\u5176\u4e3b\u8425\u6784\u6210\uff0c\u6709\u65e0\u91cd\u5927\u8fdb\u51fa\u62a5\u8868\u7684\u9879\u76ee\u3002<\/p>\n
B.\u00a0\u627e\u51fa\u4f01\u4e1a\u5728\u76f8\u5f53\u957f\u7684\u65f6\u95f4\u6bb5\u5185\u7684\u5386\u53f2\u6700\u4f4e\u6700\u9ad8\u548c\u5e73\u5747\u4e09\u6863\u5e02\u9500\u7387\u533a\u95f4\u3002\u8003\u5bdf\u5468\u671f\u81f3\u5c115\u5e74\u6216\u4e00\u4e2a\u5b8c\u6574\u7ecf\u6d4e\u5468\u671f\u3002\u82e5\u662f\u65b0\u4e0a\u5e02\u4f01\u4e1a\uff0c\u5fc5\u987b\u6709\u81f3\u5c113\u5e74\u7684\u4ea4\u6613\u5386\u53f2\u3002<\/p>\n
C.\u00a0\u627e\u51fa\u540c\u884c\u4e1a\u5177\u6709\u8f83\u957f\u4ea4\u6613\u5386\u53f2\u7684\u4f01\u4e1a\u505a\u5bf9\u6bd4\uff0c\u660e\u786e\u4e09\u6863\u5e02\u9500\u7387\u533a\u95f4\u3002<\/p>\n
4\uff09PEG\uff0c\u53cd\u6620\u5e02\u76c8\u7387\u4e0e\u51c0\u5229\u6da6\u589e\u957f\u7387\u4e4b\u95f4\u7684\u6bd4\u503c\u5173\u7cfb\u3002<\/p>\n
PEG=\u5e02\u76c8\u7387\/\u51c0\u5229\u6da6\u589e\u957f\u7387\u3002\u901a\u5e38\u8ba4\u4e3a\uff0c\u8be5\u6bd4\u503c=1\u8868\u793a\u4f30\u503c\u5408\u7406\uff0c\u6bd4\u503c>1\u5219\u8bf4\u660e\u9ad8\u4f30\uff0c\u6bd4\u503c<1\u8bf4\u660e\u4f4e\u4f30\u3002\u8fd9\u79cd\u65b9\u6cd5\u5728\u6295\u8d44\u5b9e\u8df5\u4e2d\u4ec5\u4f5c\u4e3a\u5e02\u76c8\u7387\u7684\u8f85\u52a9\u6307\u6807\uff0c\u5b9e\u6218\u610f\u4e49\u4e0d\u5927\u3002<\/p>\n
5)\u00a0\u672c\u6770\u660e.\u683c\u96f7\u5384\u59c6\u6210\u957f\u80a1\u4f30\u503c\u516c\u5f0f\u3002<\/p>\n
\u4ef7\u503c=\u5e74\u6536\u76ca*\uff088.5+\u9884\u671f\u5e74\u589e\u957f\u7387*2\uff09\uff0c\u516c\u5f0f\u4e2d\u7684\u5e74\u6536\u76ca\u4e3a\u6700\u8fd1\u4e00\u5e74\u7684\u6536\u76ca\uff0c\u53ef\u4ee5\u7528\u6bcf\u80a1\u6536\u76caTTM\uff08\u6700\u8fd1\u5341\u4e8c\u4e2a\u6708\u7684\u6536\u76ca\uff09\u4ee3\u66ff\uff0c\u9884\u671f\u5e74\u589e\u957f\u7387\u4e3a\u672a\u67653\u5e74\u7684\u589e\u957f\u7387\u3002\u5047\u8bbe\uff0c\u67d0\u4f01\u4e1a\u6bcf\u80a1\u6536\u76caTTM\u4e3a0.3\uff0c\u9884\u671f\u672a\u6765\u4e09\u5e74\u7684\u589e\u957f\u7387\u4e3a15%\uff0c\u5219\u516c\u53f8\u80a1\u4ef7=0.3*\uff088.5+15*2\uff09=11.55\u5143\u3002\u8be5\u516c\u5f0f\u5177\u6709\u6bd4\u8f83\u5f3a\u7684\u5b9e\u6218\u4ef7\u503c\uff0c\u8ba1\u7b97\u7ed3\u679c\u987b\u4e0e\u5176\u4ed6\u4f30\u503c\u6307\u6807\u7ed3\u5408\uff0c\u4e0d\u53ef\u5355\u72ec\u4f7f\u7528\u3002<\/p>\n
6\uff09\u8fd8\u6709\u4e00\u79cd\u5e38\u7528\u7684\u4f30\u503c\u65b9\u6cd5\u2014\u2014\u5229\u7387\u4f30\u503c\u6cd5\uff0c\u89c1\u4e0b\u6587\u3002<\/p>\n
7\uff09\u4ee5\u4e0a\u65b9\u5f0f\u5747\u4e0d\u53ef\u5355\u72ec\u4f7f\u7528\uff0c\u81f3\u5c11\u5e94\u914d\u5408\u4e24\u79cd\u8054\u5408\u7814\u5224\uff0c\u5176\u7edd\u5bf9\u503c\u4ea6\u6ca1\u6709\u5b9e\u6218\u610f\u4e49\u3002\u4f30\u503c\u7684\u91cd\u70b9\u662f\u6bd4\u8f83\uff0c\u5c24\u5176\u662f\u76f8\u4f3c\u4f01\u4e1a\u7684\u6bd4\u8f83\uff0c\u8de8\u884c\u4e1a\u4ea6\u6ca1\u6709\u610f\u4e49\u3002<\/p>\n
\u3000\u3000<\/b><\/p>\n
\u7b2c\u4e09\u90e8\u5206\uff1a\u5b89\u5168\u8fb9\u9645<\/b><\/p>\n
3.1\u00a0\u5e02\u573a\u5229\u7387\u3002<\/p>\n
1\uff09\u5229\u7387\u6c34\u5e73\u4f53\u73b0\u4e86\u5e02\u573a\u878d\u8d44\u6210\u672c\uff0c\u4e5f\u662f\u8861\u91cf\u5e02\u573a\u8d44\u91d1\u9762\u7684\u6709\u6548\u6307\u6807\u3002<\/p>\n
2\uff09\u5229\u7387\u53cc\u8f68\u5236\u3002\u7531\u4e8e\u5236\u5ea6\u539f\u56e0\uff0c\u6211\u56fd\u7684\u5229\u7387\u5c1a\u672a\u5b8c\u5168\u5e02\u573a\u5316\uff0c\u56e0\u6b64\u5b58\u5728\u5b98\u65b9\u5229\u7387\u548c\u6c11\u95f4\u5229\u7387\u7684\u5e76\u884c\u5b58\u5728\u7684\u72b6\u51b5\u3002\u5b98\u65b9\u5229\u7387\uff08\u94f6\u884c\u5229\u7387\uff09\u5e76\u4e0d\u80fd\u5b8c\u5168\u53cd\u5e94\u5e02\u573a\u7684\u771f\u5b9e\u878d\u8d44\u6210\u672c\u548c\u8d44\u91d1\u4f9b\u9700\u5173\u7cfb\u3002<\/p>\n
3\uff09\u4e00\u5e74\u671f\u94f6\u884c\u5b9a\u671f\u5b58\u6b3e\u5229\u7387\uff08\u5f53\u524d\u4e3a3%\uff09\uff0c\u88ab\u8ba4\u4e3a\u662f\u4e2d\u77ed\u671f\u65e0\u98ce\u9669\u6536\u76ca\u7684\u53c2\u8003\u6807\u51c6\uff0c\u5176\u5012\u6570\u4ee3\u8868\u4e86\u5f53\u524d\u5e02\u573a\u9759\u6001\u5e02\u76c8\u7387\uff0c\u5373\uff1a1\/0.03=33.33\u3002\u5f53\u80a1\u7968\u5e02\u573a\u7efc\u5408\u5e02\u76c8\u7387\u4f4e\u4e8e\u6b64\u6570\u503c\u5219\u8868\u793a\u6295\u8d44\u4e8e\u80a1\u7968\u5e02\u573a\u80fd\u591f\u83b7\u5f97\u66f4\u9ad8\u7684\u6536\u76ca\u3002<\/p>\n
4\uff09\u4e0a\u6d77\u94f6\u884c\u95f4\u62c6\u653e\u5229\u7387\uff08Shanghai\u00a0Interbank\u00a0Offered\u00a0Rate\uff0c\u7b80\u79f0Shibor\uff09\u4e0e\u56fd\u503a\u56de\u8d2d\u5229\u7387\uff08Repurchase\u00a0rate\uff09\uff0c\u8fd9\u4e24\u4e2a\u5229\u7387\u6bd4\u8f83\u771f\u5b9e\u5730\u53cd\u6620\u4e86\u5e02\u573a\u8d44\u91d1\u9762\u7684\u6ce2\u52a8\uff0c\u5177\u6709\u8f83\u5f3a\u7684\u5b9e\u6218\u53c2\u8003\u610f\u4e49\u3002\u56e0\u6b64\u8fd9\u4e24\u4e2a\u5229\u7387\u6307\u6807\u901a\u5e38\u88ab\u89c6\u4f5c\u77ed\u671f\u65e0\u98ce\u9669\u6536\u76ca\u7387\u7684\u53c2\u8003\u6807\u51c6\u3002\u4ed6\u4eec\u7684\u5012\u6570\u53cd\u6620\u4e86\u5e02\u573a\u7684\u52a8\u6001\u5e02\u76c8\u7387\u8303\u56f4\u3002<\/p>\n
5\uff09\u94f6\u884c\u7684\u7406\u8d22\u4ea7\u54c1\u6536\u76ca\u7387\u4e5f\u662f\u4e00\u4e2a\u975e\u5e38\u597d\u7684\u5e02\u573a\u65e0\u98ce\u9669\u6536\u76ca\u7387\u7684\u53c2\u8003\u6807\u51c6\u3002<\/p>\n
6\uff09\u4e0a\u8ff0\u5404\u79cd\u5e02\u573a\u5229\u7387\u7684\u7efc\u5408\u503c\uff0c\u4f53\u73b0\u4e86\u5e02\u573a\u6574\u4f53\u8d44\u91d1\u7684\u5b89\u5168\u8fb9\u9645\uff0c\u5b83\u76f4\u63a5\u6216\u95f4\u63a5\u5730\u5f71\u54cd\u7740\u6295\u8d44\u4eba\u7684\u98ce\u9669\u504f\u597d\u3002<\/p>\n
3.2\u00a0\u5229\u7387\u4f30\u503c\u6cd5<\/p>\n
1\uff09\u5229\u7387\u4f30\u503c\u6cd5\uff0c\u5e02\u573a\u7684\u5b89\u5168\u8fb9\u9645\u3002<\/p>\n
\u201c\u4e70\u5165\u4ef7\u683c\u51b3\u5b9a\u6536\u76ca\u7387\u201d\u3002\u6536\u76ca\u7387=\u6536\u76ca\/\u4e70\u5165\u4ef7\u683c\uff0c\u628a\u8ba1\u7b97\u516c\u5f0f\u8f6c\u6362\u4e00\u4e0b\uff0c\u4e70\u5165\u4ef7\u683c=\u6536\u76ca\/\u6536\u76ca\u7387\u3002\u8fd9\u4e2a\u65b9\u7a0b\u5f0f\u544a\u8bc9\u6295\u8d44\u4eba\u8fd9\u6837\u4e00\u4e2a\u4e8b\u5b9e\uff1a\u5047\u8bbe\u4e00\u5bb6\u516c\u53f8\u7684\u6536\u76ca\u662f\u6bcf\u80a10.3\u5143\uff0c\u8981\u83b7\u5f97\u76f8\u5f53\u4e8e\u5e02\u573a\u65e0\u98ce\u9669\u6536\u76ca\u7684\u6c34\u5e73\uff08\u5047\u8bbe\u4e3a4%\uff09\uff0c\u90a3\u4e48\uff0c\u4e70\u5165\u80a1\u7968\u7684\u4ef7\u683c\u5fc5\u987b\u4f4e\u4e8e7.5\u5143\uff08\u4e70\u5165\u4ef7\u683c=0.3\/0.04=7.5\uff09\u3002\u6362\u800c\u8a00\u4e4b\uff0c\u5f53\u80a1\u4ef7\u4f4e\u4e8e7.5\u5143\u65f6\uff0c\u6295\u8d44\u8005\u5c31\u80fd\u591f\u83b7\u5f97\u9ad8\u4e8e\u5e02\u573a\u5229\u7387\u7684\u6536\u76ca\u30027.5\u5143\u8fd9\u4e2a\u8ba1\u7b97\u7ed3\u679c\u53ef\u4ee5\u88ab\u8ba4\u4e3a\u662f\u8be5\u80a1\u7968\u7684\u5b89\u5168\u8fb9\u9645\u503c\u3002<\/p>\n
2\uff09\u591a\u91cd\u5229\u7387\u4f30\u503c\u6cd5\u3002\u628a\u4e00\u5e74\u671f\u94f6\u884c\u5b58\u6b3e\u5229\u7387\u3001\u957f\u671fShibor\u5229\u7387\u3001\u56fd\u503a\u56de\u8d2d\u5229\u7387\u3001\u94f6\u884c\u7406\u8d22\u5229\u7387\u5206\u522b\u4ee3\u5165\u516c\u5f0f\uff0c\u4fbf\u53ef\u5f97\u51fa\u4e00\u4e2a\u76f8\u5bf9\u5408\u7406\u7684\u65e0\u98ce\u9669\u6536\u76ca\u7387\u533a\u95f4\u3002\u8fd9\u4e2a\u533a\u95f4\u4ee3\u8868\u4e86\u5e02\u573a\u7684\u5b89\u5168\u8fb9\u9645\u8303\u56f4\uff0c\u6570\u503c\u7684\u9ad8\u4f4e\u76f4\u63a5\u5f71\u54cd\u6295\u8d44\u8005\u7684\u8d44\u4ea7\u914d\u7f6e\u7b56\u7565\uff0c\u4e5f\u95f4\u63a5\u5730\u5f71\u54cd\u4e86\u5e02\u573a\u6574\u4f53\u8d44\u91d1\u7684\u53bb\u5411\u3002<\/p>\n
3.3\u00a0\u6298\u6263\u4e0e\u6ea2\u4ef7\u3002<\/p>\n
\u4f30\u503c\u987b\u6839\u636e\u5177\u4f53\u7684\u884c\u4e1a\u548c\u4f01\u4e1a\u7279\u6027\u6765\u786e\u5b9a\uff0c\u5e02\u76c8\u7387\u3001\u5e02\u51c0\u7387\u3001\u5e02\u9500\u7387\uff0c\u8fd8\u662f\u683c\u96f7\u5384\u59c6\u4f30\u503c\u6cd5\u6216\u5229\u7387\u4f30\u503c\u6cd5\uff0c\u65e0\u8bba\u54ea\u4e00\u79cd\u4f30\u503c\u65b9\u6cd5\uff0c\u6839\u636e\u201c\u4e70\u5165\u4ef7\u683c\u51b3\u5b9a\u6536\u76ca\u7387\u201d\u539f\u7406\uff0c\u4e70\u5165\u4ef7\u683c\u8d8a\u4f4e\uff0c\u5219\u672a\u6765\u6536\u76ca\u7387\u5c31\u8d8a\u9ad8\u3002<\/p>\n
1\uff09\u5206\u6863\u8fdb\u51fa\u539f\u5219\u2014\u2014\u4e0d\u8981\u4f01\u56fe\u505a\u795e\u4ed9\u3002<\/p>\n
\u6ca1\u6709\u4eba\u80fd\u591f\u7cbe\u786e\u8ba1\u7b97\u80a1\u7968\u7684\u4ef7\u503c\uff0c\u4e5f\u6ca1\u6709\u4eba\u80fd\u4e70\u5728\u7edd\u5bf9\u7684\u4f4e\u70b9\uff0c\u5356\u5728\u7edd\u5bf9\u7684\u9ad8\u70b9\u3002\u56e0\u6b64\uff0c\u9002\u5f53\u653e\u5927\u5b89\u5168\u8fb9\u9645\u548c\u5206\u6863\u8fdb\u51fa\u7684\u539f\u5219\u662f\u6700\u6709\u6548\u7684\u64cd\u4f5c\u7b56\u7565\uff0c\u53ef\u4ee5\u505a\u5230\u65e2\u4e0d\u9519\u5931\u673a\u4f1a\uff0c\u4e5f\u4e0d\u6613\u6df1\u5957\u3002<\/p>\n
2\uff09\u6839\u636e\u4f30\u503c\u7684\u5206\u6863\u8fdb\u51fa\u7b56\u7565\uff08\u9002\u5408\u5177\u6709\u957f\u671f\u7a33\u5065\u8d22\u52a1\u7279\u5f81\u7684\u4f01\u4e1a\uff09\u3002<\/p>\n
\u4e3e\u4f8b\u6765\u8bf4\uff0c\u67d0\u4f01\u4e1a\u957f\u671f\u6700\u4f4e\u5e02\u51c0\u7387\u533a\u95f4\u4e3a1.2\u500d\u5de6\u53f3\uff0c\u6fc0\u8fdb\u8005\u53ef\u4ee5\u57281.5\u500d\u5e02\u51c0\u7387\u65f6\u505a\u5206\u6863\u4e70\u5165\u8ba1\u5212\uff0c\u5982\uff1a1.5\u500d\u30011.3\u500d\u30011.1\u500d\u30011\u500d\u30010.9\u500d\u2026\u2026\u3002\u5206\u6863\u653e\u5927\u5b89\u5168\u8fb9\u9645\u7684\u76ee\u7684\u662f\u201c\u4e0d\u9519\u5931\uff0c\u4e0d\u6df1\u5957\u201d\uff0c\u5177\u4f53\u7684\u5206\u6863\u60c5\u51b5\u89c6\u60c5\u51b5\u800c\u5b9a\u3002<\/p>\n
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3\uff09\u6839\u636e\u201c\u56fe\u5f62\u5206\u6790\u56db\u9879\u57fa\u672c\u539f\u5219\u201d\u8fdb\u51fa\u7b56\u7565\u3002<\/p>\n
\u5177\u4f53\u7b56\u7565\u53c2\u89c1\uff1ahttp:\/\/xueqiu.com\/9987866486\/28718320<\/p>\n
4\uff09\u7b80\u5355\u7684\u8d44\u91d1\u7ba1\u7406\u7b56\u7565\u3002<\/p>\n
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\u3000\u3000<\/b><\/p>\n
\u7b2c\u56db\u90e8\u5206\uff1a\u5e95\u90e8\u4e0e\u9876\u90e8<\/b><\/p>\n
4.1\u00a0\u53cc\u51fb\u4e0e\u53cc\u6740\u3002<\/p>\n
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4.2\u00a0\u597d\u80a1\u4e0d\u6015\u7b49\u4e09\u5e74\u3002<\/p>\n
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4.3\u00a0\u4e3b\u6d41\u504f\u89c1\u3002<\/p>\n
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4.4\u00a0\u8f6c\u5411\u7684\u8ff9\u8c61\u3002<\/p>\n
1\uff09\u6709\u4ef7\u503c\u7684\u4fe1\u606f\uff1a<\/p>\n
A.\u00a0\u65b0\u95fb\u8206\u8bba\u5f00\u59cb\u51fa\u73b0\u53cd\u5411\u53e3\u543b\uff1b<\/p>\n
B.\u00a0\u6709\u6ca1\u6709\u66f4\u6781\u7aef\u7684\u60c5\u51b5\u51fa\u73b0\uff1b<\/p>\n
C.\u00a0\u5b8f\u89c2\u73af\u5883\u548c\u5e02\u573a\u8d44\u91d1\u9762\u53d1\u751f\u53d8\u5316\uff1b<\/p>\n
D.\u00a0\u4e3b\u6d41\u504f\u89c1\u7684\u53e3\u6c14\u4e0d\u518d\u90a3\u4e48\u575a\u5b9a\uff0c\u51fa\u73b0\u610f\u89c1\u4e0d\u5408\u7684\u60c5\u51b5\uff1b<\/p>\n
2\uff09\u4f01\u4e1a\u7ba1\u7406\u5c42\u5f00\u59cb\u884c\u52a8\uff1a<\/p>\n
A.\u00a0\u56de\u8d2d\u6216\u629b\u552e\u672c\u516c\u53f8\u80a1\u7968\uff1b<\/p>\n
B.\u00a0\u4f01\u4e1a\u53d1\u5c55\u76ee\u6807\u53d1\u751f\u53d8\u66f4\uff1b<\/p>\n
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3)\u00a0\u8d22\u52a1\u6570\u636e\u9a8c\u8bc1\uff1a<\/p>\n
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