澶╂触鍟嗘キ(y猫)澶у(xu茅) 2021骞寸ⅸ澹爺绌剁敓鎷涚敓鑰冭│锛堝垵瑭︼級鑷懡椤岀鐩€冭│澶х侗

绉戠洰浠ｇ⒓锛�431 绉戠洰鍚嶇ū锛氶噾铻嶅(xu茅)缍滃悎

涓€銆佽€冭│瑕佹眰

娓�(c猫)瑭﹁€冪敓灏�(du矛)浜庤垏閲戣瀺瀛�(xu茅)鍜屽叕鍙哥悊璨�(c谩i)鐩搁棞(gu膩n)鐨勫熀鏈蹇�銆佸熀绀�(ch菙)鐞嗚珫鐨勬帉鎻″拰閬�(y霉n)鐢ㄨ兘鍔�銆�

浜�銆佽€冭│褰㈠紡鍙婃檪(sh铆)闁�

绛嗚│锛�180鍒嗛悩銆�

涓�銆佽€冭│鍏�(n猫i)瀹�

绗竴閮ㄥ垎 閲戣瀺瀛�(xu茅)

绗竴绔� 灏�(d菐o)璜�

1.1閲戣瀺瀛�(xu茅)鐨勭爺绌跺皪(du矛)璞�

1.2閲戣瀺瀛�(xu茅)鐨勬紨璁婅垏鐧�(f膩)灞�

绗簩绔� 璨ㄥ梗鑸囪波骞ｅ埗搴�

2.1璨ㄥ梗鐨勮捣婧�

2.2璨ㄥ梗鐨勬湰璩�(zh矛)鑸囪伔鑳�

2.3璨ㄥ梗娴侀€�

2.4璨ㄥ梗鍒跺害

绗笁绔� 淇＄敤鑸囦俊鐢ㄥ伐鍏�

3.1淇＄敤

3.2淇＄敤宸ュ叿

绗洓绔� 鍒╂伅鑸囧埄鐜�

4.1鍒╂伅鐨勬湰璩�(zh矛)鑸囧埄鐜�

4.2鍒╃巼鐨勪富瑕佺悊璜�

4.3鍒╃巼鐨勪綔鐢ㄨ垏褰遍熆鍒╃巼鐨勪富瑕佸洜绱�

绗簲绔� 璨ㄥ梗鐨勬檪(sh铆)闁撳児(ji脿)鍊�

5.1璨ㄥ梗鐨勬檪(sh铆)闁撳児(ji脿)鍊�

5.2绲傚€煎拰鐝�(xi脿n)鍊�

绗叚绔� 璀夊埜浼板€�

6.1璀夊埜鍍�(ji脿)鍊艰⿻(p铆ng)浼扮殑鍩烘湰鍘熺悊

6.2鍌靛埜鍍�(ji脿)鍊艰⿻(p铆ng)浼�

6.3鑲＄エ鍍�(ji脿)鍊艰⿻(p铆ng)浼�

绗竷绔� 閲戣瀺甯傚牬(ch菐ng)鍙婂叾妲�(g貌u)鎴�

7.1閲戣瀺甯傚牬(ch菐ng)妤靛叾绋

7.2閲戣瀺甯傚牬(ch菐ng)宸ュ叿

7.3閲戣瀺甯傚牬(ch菐ng)鐨勬(g貌u)鎴�

绗叓绔� 閲戣瀺閬�(y霉n)鐕�(y铆ng)绲勭箶锛氬晢妤�(y猫)閵€琛�

8.1 鍟嗘キ(y猫)閵€琛屾杩�

8.2 鍟嗘キ(y猫)閵€琛岀殑璩囩敘(ch菐n)璨�(f霉)鍌垫キ(y猫)鍕�(w霉)

8.3 鍟嗘キ(y猫)閵€琛岀殑琛ㄥ妤�(y猫)鍕�(w霉)

8.4 鐝�(xi脿n)浠ｅ晢妤�(y猫)閵€琛岀殑绠＄悊

绗節绔� 閲戣瀺閬�(y霉n)鐕�(y铆ng)绲勭箶锛氶潪鍟嗘キ(y猫)閵€琛岄噾铻嶆(j墨)妲�(g貌u)

9.1 鏀跨瓥鎬ч噾铻嶆(j墨)妲�(g貌u)

9.2 淇濋毆(xi菐n)鍏徃

9.3 绉熻硟鑸囦俊鎵樻姇璩囧叕鍙�

9.4 鍏跺畠閲戣瀺姗�(j墨)妲�(g貌u)

绗崄绔� 璨ㄥ梗鍓�(chu脿ng)閫犳(j墨)鍒�

10.1 瀛樻璨ㄥ梗鍓�(chu脿ng)閫犳(j墨)鍒�

10.2 涓ぎ閵€琛岄珨鍒朵笅鐨勮波骞ｅ壍(chu脿ng)閫犻亷绋�

绗崄涓€绔� 璨ㄥ梗鏀跨瓥

11.1 璨ㄥ梗鏀跨瓥鐩(bi膩o)

11.2 璨ㄥ梗鏀跨瓥宸ュ叿

11.3 璨ㄥ梗鏀跨瓥鐨勫偝灏�(d菐o)姗�(j墨)鍒惰垏涓粙鎸囨(bi膩o)

11.4 璨ㄥ梗鏀跨瓥鏁堟灉

绗崄浜岀珷 璨ㄥ梗渚涙眰鍙婂潎琛�

12.1 璨ㄥ梗渚涙眰

12.2 璨ㄥ梗鍧囪　鑸囧け琛�

12.3 閫氳波鑶ㄨ劰鑸囩穵绺�

绗崄涓夌珷 閲戣瀺鐩�(ji膩n)绠�

13.1 閲戣瀺鐩�(ji膩n)绠＄殑鍏�(n猫i)瀹瑰拰鏂规硶

13.2 閲戣瀺鐩�(ji膩n)绠￠珨鍒�

13.3 鎴戝湅(gu贸)鐨勯噾铻嶇洠(ji膩n)绠＄祫绻�

13.4 閲戣瀺鐩�(ji膩n)绠＄殑鍦�(gu贸)闅涘崝(xi茅)瑾�(di脿o)

绗簩閮ㄥ垎 鍏徃鐞嗚病(c谩i)

绗竴绔� 鍏徃鐞嗚病(c谩i)灏�(d菐o)璜�

1.1 浠€涔堟槸鍏徃鐞嗚病(c谩i)

1.2 鍏徃鍒朵紒妤�(y猫)

1.3 鐝�(xi脿n)閲戞祦鐨勯噸瑕佹€�

1.4 璨�(c谩i)鍕�(w霉)绠＄悊鐨勭洰妯�(bi膩o)

1.5 浠ｇ悊鍟忛鍜屽叕鍙哥殑鎺у埗

1.6 绠″埗

绗簩绔� 鏈�(hu矛)瑷�(j矛)鍫�(b脿o)琛ㄨ垏鐝�(xi脿n)閲戞祦閲�

2.1 璩囩敘(ch菐n)璨�(f霉)鍌佃〃

2.2 鍒╂饯(r霉n)琛�

2.3 绋�

2.4 鍑堢嚐(y铆ng)閬�(y霉n)璩囨湰

2.5 浼佹キ(y猫)鐨勭従(xi脿n)閲戞祦閲�

2.6 鏈�(hu矛)瑷�(j矛)鐝�(xi脿n)閲戞祦閲忚〃

2.7 鐝�(xi脿n)閲戞祦閲忕鐞�

绗笁绔� 璨�(c谩i)鍕�(w霉)鍫�(b脿o)琛ㄥ垎鏋愯垏闀�(zh菐ng)鏈熻▓(j矛)鍔�

3.1 璨�(c谩i)鍕�(w霉)鍫�(b脿o)琛ㄥ垎鏋�

3.2 姣旂巼鍒嗘瀽

3.3 鏉滈偊鎭掔瓑寮�

3.4 璨�(c谩i)鍕�(w霉)妯″瀷

3.5 澶栭儴铻嶈硣鑸囧闀�(zh菐ng)

3.6 闂�(gu膩n)浜庤病(c谩i)鍕�(w霉)瑷�(j矛)鍔冩ā鍨嬬殑娉ㄦ剰浜嬮爡(xi脿ng)

绗洓绔� 鏀剁泭鍜岄ⅷ(f膿ng)闅�(xi菐n)锛氬緸甯傚牬(ch菐ng)姝峰彶寰楀埌鐨勭稉(j墨ng)椹�(y脿n)

4.1 鏀剁泭

4.2 鎸佹湁鏈熸敹鐩�

4.3 鏀剁泭鐨勭当(t菕ng)瑷�(j矛)閲�

4.4 鑲＄エ鐨勫钩鍧囨敹鐩婂拰鐒�(w煤)棰�(f膿ng)闅�(xi菐n)鏀剁泭

4.5 棰�(f膿ng)闅�(xi菐n)鐨勭当(t菕ng)瑷�(j矛)閲�

4.6 鏇村闂�(gu膩n)浜庡钩鍧囨敹鐩婄殑鍏�(n猫i)瀹�

4.7 缇庡湅(gu贸)鑲℃瑠(qu谩n)棰�(f膿ng)闅�(xi菐n)婧㈠児(ji脿)锛氭鍙插拰鍦�(gu贸)闅涚殑瑕栬

4.8 2008锛� 閲戣瀺鍗辨(j墨)鐨勪竴骞�

绗簲绔� 鏀剁泭鍜岄ⅷ(f膿ng)闅�(xi菐n)锛氳硣鏈硣鐢�(ch菐n)瀹氬児(ji脿)妯″瀷

5.1 鍠€�(g猫)璀夊埜

5.2 鏈熸湜鏀剁泭銆佹柟宸拰鍗�(xi茅)鏂瑰樊

5.3 鎶曡硣绲勫悎鐨勬敹鐩婂拰棰�(f膿ng)闅�(xi菐n)

5.4 鍏╃ó璩囩敘(ch菐n)绲勫悎鐨勬湁鏁堥泦

5.5 澶氱ó璩囩敘(ch菐n)绲勫悎鐨勬湁鏁堥泦

5.6 澶氬厓鍖�

5.7 鐒�(w煤)棰�(f膿ng)闅�(xi菐n)鍊熻哺

5.8 甯傚牬(ch菐ng)鍧囪　

5.9 棰�(f膿ng)闅�(xi菐n)鑸囨湡鏈涙敹鐩婁箣闁撶殑闂�(gu膩n)绯伙紙璩囨湰璩囩敘(ch菐n)瀹氬児(ji脿)妯″瀷锛�

绗叚绔� 鐪嬪緟棰�(f膿ng)闅�(xi菐n)鑸囨敹鐩婄殑鍙︿竴绋榛�(di菐n)锛氬鍒╁畾鍍�(ji脿)鐞嗚珫

6.1 绨�(ji菐n)浠�

6.2 绯荤当(t菕ng)棰�(f膿ng)闅�(xi菐n)鍜岃矟濉旂郴鏁�(sh霉)

6.3 鎶曡硣绲勫悎鑸囧洜绱犳ā鍨�

6.4 璨濆绯绘暩(sh霉)銆佸鍒╄垏鏈熸湜鏀剁泭

6.5 璩囨湰璩囩敘(ch菐n)瀹氬児(ji脿)妯″瀷鍜屽鍒╁畾鍍�(ji脿)妯″瀷

6.6 璩囩敘(ch菐n)瀹氬児(ji脿)鐨勫(sh铆)璀夋柟娉�

绗竷绔� 棰�(f膿ng)闅�(xi菐n)銆佽硣鏈垚鏈拰浼板€�

7.1 娆�(qu谩n)鐩婅硣鏈垚鏈�

7.2 鐢ㄨ硣鏈硣鐢�(ch菐n)瀹氬児(ji脿)妯″瀷浼拌▓(j矛)娆�(qu谩n)鐩婅硣鏈垚鏈�

7.3 浼拌▓(j矛)璨濆

7.4 璨濆鐨勫奖闊垮洜绱�

7.5 鑲″埄鎶樼従(xi脿n)妯″瀷娉�

7.6 閮ㄩ杸鍜岄爡(xi脿ng)鐩殑璩囨湰鎴愭湰

7.7 鍥哄畾鏀剁泭璀夊埜鐨勬垚鏈�

7.8 鍔犳瑠(qu谩n)骞冲潎璩囨湰鎴愭湰

7.9 閬�(y霉n)鐢� RWACC閫�(j矛n)琛屼及鍊�

7.10 浼婂＋鏇煎叕鍙哥殑璩囨湰鎴愭湰浼拌▓(j矛)

7.11 铻嶈硣鎴愭湰鍜屽姞娆�(qu谩n)骞冲潎璩囨湰鎴愭湰

绗叓绔� 鏈夋晥璩囨湰甯傚牬(ch菐ng)鍜岃鐐烘寫鎴�(zh脿n)

8.1 铻嶈硣姹虹瓥鑳藉壍(chu脿ng)閫犲児(ji脿)鍊煎棊

8.2 鏈夋晥璩囨湰甯傚牬(ch菐ng)鐨勬弿杩�

8.3 鏈夋晥甯傚牬(ch菐ng)鐨勯鍨�

8.4 璀夋摎(j霉)

8.5 琛岀偤鐞嗚珫灏�(du矛)甯傚牬(ch菐ng)鏈夋晥鎬х殑鎸戞埌(zh脿n)

8.6 缍�(j墨ng)椹�(y脿n)璀夋摎(j霉)灏�(du矛)甯傚牬(ch菐ng)鏈夋晥鎬х殑鎸戞埌(zh脿n)

8.7 闂�(gu膩n)浜庝簩鑰呭樊鐣扮殑瑭�(p铆ng)璜�

8.8 灏�(du矛)鍏徃鐞嗚病(c谩i)?sh霉)鍥婇ガx

绗節绔� 璩囨湰绲�(ji茅)妲�(g貌u)锛氬熀鏈蹇�

9.1 璩囨湰绲�(ji茅)妲�(g貌u)鍟忛鍜岄ぁ椁呯悊璜�

9.2 浼佹キ(y猫)鍍�(ji脿)鍊肩殑鏈€澶у寲鑸囪偂鏉辫病(c谩i)瀵屽児(ji脿)鍊肩殑鏈€澶у寲

9.3 璨�(c谩i)鍕�(w霉)鏉犳】鍜屼紒妤�(y猫)鍍�(ji脿)鍊硷細涓€鍊�(g猫)渚嬪瓙

9.4 鑾开鍒╀簽灏煎拰绫冲嫆锛氬懡椤屸叀锛堢劇(w煤)绋咃級

9.5 绋�

绗崄绔� 璩囨湰绲�(ji茅)妲�(g貌u)锛氬偟鍕�(w霉)閬�(y霉n)鐢ㄧ殑闄愬埗

10.1 璨�(c谩i)鍕�(w霉)鍥板鎴愭湰

10.2 璨�(c谩i)鍕�(w霉)鍥板鎴愭湰鐨勭ó椤�

10.3 鑳藉闄嶄綆鍌靛嫏(w霉)鎴愭湰鍡�

10.4 绋呮敹鍜岃病(c谩i)鍕�(w霉)鍥板鎴愭湰鐨勭稖鍚堝奖闊�

10.5 淇¤櫉(h脿o)

10.6 鍋锋嚩銆佸湪鑱锋秷璨�(f猫i)鑸囨湁瀹虫姇璩囷細涓€鍊�(g猫)闂�(gu膩n)浜庢瑠(qu谩n)鐩婁唬鐞嗘垚鏈殑娉ㄩ噵

10.7 鍎�(y艒u)搴忚瀺璩囩悊璜�

10.8 鍊�(g猫)浜烘墍寰楃▍

10.9 鍏徃濡備綍纰哄畾璩囨湰绲�(ji茅)妲�(g貌u)

绗崄涓€绔� 鏉犳】浼佹キ(y猫)鐨勪及鍊艰垏璩囨湰闋�(y霉)绠�

11.1 瑾�(di脿o)鏁村噲鐝�(xi脿n)鍊兼硶

11.2 娆�(qu谩n)鐩婄従(xi脿n)閲戞祦閲忔硶

11.3 鍔犳瑠(qu谩n)骞冲潎璩囨湰鎴愭湰娉�

11.4 APV娉�銆丗TE娉曞拰 WACC娉曠殑姣旇純

11.5 鎶樼従(xi脿n)鐜囬渶瑕佷及绠楃殑浼板€兼柟娉�

11.6 APV娉曡垑渚�

11.7 璨濆绯绘暩(sh霉)鑸囪病(c谩i)鍕�(w霉)鏉犳】

绗崄浜岀珷 鑲″埄鏀跨瓥鍜屽叾浠栨敮浠樻斂绛�