15 浜虹敓鏈璁ㄥ帉鐨勬椂鍒?/h1>
鍦ㄨ僵灝艱瘲閬撲笅杞︼紝鏈厤椋庡皹浠嗕粏婊″ご澶ф睏鐨勬牱瀛愶紝鐜嬩簹鑺濆ア渚堝湴鎼簡(jiǎn)鐨勫＋銆?br />
榪欐爧鍐板喎姘旀淳鐨勫晢涓氬ぇ妤間互寰鏉ヨ繃涓嶇煡澶氬皯嬈★紝閭璇蜂粬浠瘯闀滅殑鏂板叕鍙鎬綅鍦ㄥ叾涓紝鑳屽悗娉ㄨ祫鏉ヨ嚜鍐呴檰錛屾鏄▼瀵屽皯鐨勬湅鍙嬶紝棣欐腐濞變箰涓氶珮搴﹀彂杈撅紝浜т笟鎴愮啛錛屾姇璧勮搗鏉ラ闄╄緝?yōu)畯锛屽惛寮曚笉灏戝琛屽瘜璞潵璇曟斑_(dá)紝鍙嶆鎶曡祫棰濆茍涓嶅ぇ錛岃繖瀹跺叕鍙鎬笓鍋氱綉璺垙鍓э紝閲囩敤浜戠鎶鏈緭鍑簅n demand鍓ч泦錛岄櫎浜?jiǎn)鑷繁鎷嶆憚锛屼篃璐诡C竴浜涘墽鐨勬挱鏄犵増鏉冨茍鐩存挱鍥介檯浣撹偛璧涗簨銆?br />
鍏徃瑙勬ā榪橀潪甯稿皬錛屽彧鎷嶈繃涓変釜鍙嶅簲騫沖鉤鐨勬垙錛屼技涔庤繕鍦ㄦ懜绱富嫻佸競(jìng)鍦虹殑鍙ｅ懗錛屼笉榪囩帇浜氳姖娌′粈涔堝ソ鎸戞儠鐨勶紝娼囨磼鍙媿浜?jiǎn)涓や釜鏉傚織灏辫杩欏鍏徃鐨勮瘯闀滄€葷洃娉ㄦ剰鍒幫紝涓嶇濡備綍錛岄兘鏄釜濂芥満浼?xì)?br />
涓ゆ棩鍓嶇殑鐢墊嬋鍚諱箣鍚庯紝涓や漢鐨勫叧緋誨濂規(guī)墍鎰匡紝鎭㈠鍒頒互寰浠涔堥兘娌″彂鐢熺殑鐘舵侊紝闅旀棩渚濇棫鍘誨挅鍟″簵甯墜錛岄偅鐢蜂漢绔洏瀛愶紝鑰岃嚜宸卞垯鏄嫾鍛芥浛浠栬仈緋繪洿澶氬伐浣滄満浼?xì)锛屾櫄涓婁篃鏀惧純浜?jiǎn)鏄熷駭綆楀懡鎽婄殑鐢熸剰銆?br />
鍏充簬闄堜集鐨勫叕瀵撴儕欖傦紝浜嬪悗濂瑰繊涓嶄綇闂簡(jiǎn)钀ф磼錛屼絾浠栧彧鑰歌歌偐璇村弽姝ｆ墿娌¤拷榪囨潵涓嶇敤鎷呭績(jī)錛屽ス鍏蟲敞浜?jiǎn)鏂伴椚潥勫悗绠嬪Q屽彧璇存槸鐢電嚎鑰佹棫澶辯伀浣忔埛閫冪敓涓嶅強(qiáng)姝諱激鎯ㄩ噸錛?br />
闅鵑亾璀︽柟鍦ㄩ殣鐬掓秷鎭紵閭ｄ簺灝告氨綆楄鐑ц繃錛屽案媯涔熻兘楠屽嚭姝諱骸鏃墮棿錛屼簨鍏堟浜?jiǎn)涓€孌墊椂闂磋繕鏄綋鍦虹儳姝繪硶鍖繪庝箞鍙兘鐪嬩笉鍑烘潵錛?br />
涓嶈繃錛屾病鏈夊涔呭ス渚挎姏寮浜?jiǎn)澶氫綑鐨勬媴蹇?jī)錛屽氨綆楄鏂規(guī)湁鎵闅愮瀿涔熸湭蹇呮槸浠跺潖浜嬶紝璇翠笉瀹氫粬浠療瑙変簡(jiǎn)涓嶅鍔插凡緇忓睍寮縐樺瘑璋冩煡錛屽弽姝ｆ姤妗堝彧鏄負(fù)浜?jiǎn)閬垮厤浜嬫儏绐佺劧鍙樻垚琛尀璧拌倝鐢?shù)瑙嗗墽錛屽畼鏂規(guī)湁鎵璀﹁灝卞ソ浜?jiǎn)锛屽ス涓€涓皬甯?jìng)姘戝摢鏈夎兘鍔涘厸_績(jī)榪欎箞澶氾紵榪樻槸钁楃揣姣忓ぉ鐨刢ash flow鎵嶆槸澶寸瓑澶т簨銆?br />
閭ｇ敺浜哄茍涓嶅綋涓鍥炰簨錛屾椿灝鎬貢璺戝彧瑕佷笉榪藉埌瀹墮噷鏉ュ氨涓嶇敤鎷呭績(jī)錛岃繖鏍風(fēng)殑蹇?jī)鐞嗙礌璐ㄥQ屽埌搴曟槸鍥犱負(fù)鎬濊檻澶繃綆鍗曪紝榪樻槸鑷繁鐪熺殑鏉炰漢蹇уぉ澶錛熺帇浜氳姖瀵硅嚜宸變駭鐢熶簡(jiǎn)鎬鐤戝拰鍙嶇渷錛岃繖澶ф鏄兘甯?jìng)錆h鍜屼埂涓嬩漢鐨勪笉鍚屻?br />
鎬諱箣錛屼竴鍒囨甯哥殑灝辮繛鍚戞潵鍏崷鐨勬澃瀹濋兘娌℃湁鍡呴椈鍒頒換浣曞叓鍗︾殑鎰忓懗錛岃繖鏈槸浠跺ソ浜嬶紝浣嗕笉鐭ラ亾涓轟粈涔堢湅閭ｇ敺浜虹湡鏄畬鍏ㄥ綋浣滄病鍙戠敓榪囩殑鍛嗘劊紲炴儏錛屾皵鍙堜笉鎵撲竴澶勬潵銆?br />
闅鵑亾榪欏浼欏弻閲嶄漢鏍鹼紵濂逛笉鍙竴嬈℃兂鍒板湪榛戞殫涓殑浠栵紝婊℃弧鐨勪鏡鐣ユэ紝鏃㈤偑鍙堝喎錛屽崄瓚崇殑鐚涘吔錛岀畝鐩翠護(hù)濂充漢鏃犳硶鎷涙灦錛屽氨綆楁妧宸т笉鐔熺粌錛岃繖縐嶅厛澶╂潯浠跺彧瑕佺媯鎿嶇寷騫詫紝涓嶉渶瑕佷慨楗頒篃鑳借濂充漢鐩翠笂浜戠鍚с?br />
鐜嬩簹鑺濆己榪嚜宸辨帎鏂剳涓秺鏉ヨ秺姝殑娣偑鎬濇兂錛屼粈涔堣窡浠涔堬紝濂瑰張榛樺康浜?jiǎn)涓夐亶锛岃惂娲掓槸璧氶挶宸ュ咗P紝涓嶆槸鎯呰叮鐜╁叿錛?br />
浠栫灔榪囪綰跨湅浜?jiǎn)涓€鐪煎コ浜哄挰鐗欏垏榻匡紝涓闃電孩涓闃電儳鐨勮劯鑹詫紝鑳藉惉瑙侀偅鍜氬挌濡傞紦鐐圭殑鐨勫績(jī)璺籌紝鍗存懜涓嶅噯濂瑰寮傝搗浼忕殑鎯呯華錛岀偢闆蜂竴鏍楓?br />
鈥滅瓑絳夎鎷嶄粈涔堢収錛熲濓紝浠栨墦鐮寸數(shù)姊腑鐨勫瘋闈?rùn)锛屽績(jī)鎯冲ス搴旇瀵箻q欐牱鐨勮瘽棰樻瘮杈冩劅鍏磋叮錛屼笉浼?xì)韪╁埌闆峰尯锛屸€滆繕瑕佹姽闃叉檼娌癸紵鈥濓紝浠栬繕鎸哄枩嬈㈤偅涓滆タ鐨勫懗閬擄紝棣欓鐢滅敎錛屽儚妞板瓙銆?br />
鈥滀粖澶╀笉鏄媿鐓э紝鏄瘯闀滐紝鈥濓紝鐜嬩簹鑺濆洖榪囩鎵嶅彂鐜拌嚜宸卞繕浜?jiǎn)鎻悩q欎釜宸ヤ綔鐨勫唴瀹癸紝浠栫殑鐪肩鐪嬩笂鍘繪湁浜涘皬蹇?jī)缈季橕|紝绔欏湪涓鍛庡紑澶栵紝鑷繁鐪嬭搗鏉ユ湁榪欎箞鎯蟲綔瑙勫垯浠栧悧錛熷ス緲諱簡(jiǎn)涓櫧鐪鹼紝綆椾簡(jiǎn)綆椾簡(jiǎn)錛?br />
鈥滄槸涓涓綉璺墽錛屽憙........灝辨槸鍦ㄧ綉璺笂鎾殑鍓э紝鍙互鍦ㄧ數(shù)鑴戯紝鎵嬫満錛宨pad涓婇潰鐪嬶紝鈥滐紝榪欏浼欎技涔庡浜庣數(shù)瀛愪駭鍝佸畬鍏ㄤ笉鎰熷叴瓚ｏ紝榪炵