{"id":5736,"date":"2025-07-16T20:44:39","date_gmt":"2025-07-16T18:44:39","guid":{"rendered":"https:\/\/tulipemedia.com\/?p=5736"},"modified":"2026-04-05T18:06:52","modified_gmt":"2026-04-05T16:06:52","slug":"compte-de-resultat","status":"publish","type":"post","link":"https:\/\/tulipemedia.com\/zh\/compte-de-resultat\/","title":{"rendered":"\u5b66\u4e60\u9605\u8bfb\u3001\u7406\u89e3\u548c\u89e3\u8bfb\u635f\u76ca\u8868"},"content":{"rendered":"<p>\u6b63\u5982\u6211\u4eec\u5728\u4e0a\u4e00\u7ae0\u4e2d\u770b\u5230\u7684\uff0c\u8d22\u52a1\u62a5\u8868\u5305\u542b\u4e24\u4efd\u6709\u52a9\u4e8e\u4e86\u89e3\u516c\u53f8\u5065\u5eb7\u72b6\u51b5\u7684\u57fa\u672c\u6587\u4ef6\uff1a\u8d44\u4ea7\u8d1f\u503a\u8868\u548c\u635f\u76ca\u8868\u3002\u5728\u672c\u8bfe\u7a0b\u4e2d\uff0c\u6211\u4eec\u5c06\u91cd\u70b9\u4ecb\u7ecd\u635f\u76ca\u8868\uff0c\u56e0\u4e3a\u5b83\u5bf9\u521d\u5b66\u8005\u6765\u8bf4\u6700\u5bb9\u6613\u7406\u89e3\uff0c\u4e4b\u540e\u6211\u4eec\u5c06\u8ba8\u8bba\u8d44\u4ea7\u8d1f\u503a\u8868\u3002<\/p>\n<h2>\u635f\u76ca\u8868\u7684\u7b80\u5355\u5b9a\u4e49<\/h2>\n<p>\u4e0e\u8d44\u4ea7\u8d1f\u503a\u8868\u4e0d\u540c\uff0c\u8d44\u4ea7\u8d1f\u503a\u8868\u5728\u67d0\u79cd\u7a0b\u5ea6\u4e0a\u5448\u73b0\u4e86\u516c\u53f8\u7684\u8d44\u4ea7\u53ca\u5176\u6240\u6709\u5386\u53f2\uff0c <strong>\u635f\u76ca\u8868\u5217\u51fa\u4e86\u672c\u4f1a\u8ba1\u5e74\u5ea6\u7684\u6536\u5165\u548c\u652f\u51fa<\/strong> \uff08\u4e00\u5e74\u671f\uff09\uff0c\u4ee5\u8bc4\u4f30\u516c\u53f8\u7684\u4e1a\u7ee9\u548c\u76c8\u5229\u80fd\u529b\u3002<\/p>\n<p>\u635f\u76ca\u8868\u53ef\u4ee5\u8ba9\u4f60 <strong>\u8ba1\u7b97\u516c\u53f8\u7684\u51c0\u5229\u6da6<\/strong>\uff0c\u53ef\u4ee5\u662f\u6b63\u6570\uff0c\u4e5f\u53ef\u4ee5\u662f\u8d1f\u6570\u3002\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0c\u8be5\u8868\u683c\u4ec5\u8003\u8651\u4e86\u76f8\u5173\u8d22\u653f\u5e74\u5ea6\uff0c\u56e0\u6b64\u4f01\u4e1a\u5bb6\u6216\u51b3\u7b56\u8005\u53ef\u4ee5\u4e86\u89e3\u516c\u53f8\u5f53\u524d\u7684\u7ecf\u6d4e\u6a21\u5f0f\u662f\u5426\u76c8\u5229\uff0c\u5e76\u8ba1\u7b97\u51fa\u67d0\u4e9b\u6bd4\u7387\u3002<\/p>\n<p>\u56e0\u6b64\uff0c\u60a8\u5e94\u8be5\u660e\u767d\uff0c\u8d22\u52a1\u62a5\u8868\u8861\u91cf\u7684\u662f\u516c\u53f8\u5728\u4e00\u6bb5\u65f6\u95f4\u5185\uff08\u901a\u5e38\u662f\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\uff09\u7684\u4e1a\u7ee9\uff0c\u6bd4\u8f83\u7684\u662f\u4ea7\u54c1\uff08\u4f7f\u516c\u53f8\u81f4\u5bcc\u7684\u56e0\u7d20\uff09\u548c\u652f\u51fa\uff08\u4f7f\u516c\u53f8\u4e8f\u635f\u7684\u56e0\u7d20\uff09\u3002.<\/p>\n<p>\u7ed3\u679c\u5c31\u662f\u5dee\u989d\uff1a\u51c0\u7ed3\u679c = \u603b\u4ea7\u54c1 - \u603b\u652f\u51fa\u3002.<\/p>\n<h2>\u635f\u76ca\u8868\u7684\u6b63\u5f0f\u7ed3\u6784<\/h2>\n<p>\u635f\u76ca\u8868\u4e3b\u8981\u5206\u4e3a\u4e24\u5927\u7c7b\uff1a\u516c\u53f8\u652f\u51fa\u548c\u6536\u5165\u3002\u6536\u5165\u4ee3\u8868\u516c\u53f8\u76c8\u5229\uff0c\u5373\u516c\u53f8\u589e\u52a0\u8d22\u5bcc\u7684\u6765\u6e90\u3002\u652f\u51fa\u5219\u4ee3\u8868\u516c\u53f8\u5fc5\u987b\u652f\u4ed8\u7684\u6240\u6709\u8d39\u7528\uff0c\u4e5f\u5c31\u662f\u516c\u53f8\u51cf\u5c11\u5f00\u652f\u7684\u6765\u6e90\u3002.<\/p>\n<p>\u5b83\u80fd\u8ba9\u4f60\u7b80\u5355\u5730\u4e86\u89e3\u516c\u53f8\u5728\u7279\u5b9a\u65f6\u671f\uff08\u4f8b\u5982\uff0c\u8fc7\u53bb\u4e00\u5e74\uff09\u662f\u76c8\u5229\u8fd8\u662f\u4e8f\u635f\u3002\u8fd9\u4e0e\u8d44\u4ea7\u8d1f\u503a\u8868\u4e0d\u540c\uff0c\u8d44\u4ea7\u8d1f\u503a\u8868\u663e\u793a\u7684\u662f\u516c\u53f8\u62e5\u6709\u4ec0\u4e48\u4ee5\u53ca\u8d1f\u503a\u591a\u5c11\uff08\u6216\u8005\u6362\u53e5\u8bdd\u8bf4\uff0c\u5b83\u7528\u4ec0\u4e48\u8d44\u6e90\u878d\u8d44\uff09\u3002.<\/p>\n<p>\u635f\u76ca\u8868\u662f\u6cd5\u5f8b\u89c4\u5b9a\u7684\u6c47\u603b\u6587\u4ef6\uff0c\u6bcf\u5bb6\u516c\u53f8\u90fd\u5fc5\u987b\u6309\u7167\u65e2\u5b9a\u6807\u51c6\u548c\u6700\u4f73\u5b9e\u8df5\u7f16\u5236\u3002\u7136\u800c\uff0c\u5728\u6839\u636e\u5b98\u65b9\u6a21\u677f\u751f\u6210\u6807\u51c6\u6cd5\u5f8b\u62a5\u8868\u540e\uff0c\u8fd8\u53ef\u4ee5\u6839\u636e\u5177\u4f53\u7684\u4e1a\u52a1\u6d3b\u52a8\u548c\u8d22\u52a1\u5206\u6790\u9700\u6c42\uff0c\u521b\u5efa\u66f4\u5177\u5206\u6790\u6027\u548c\u5206\u5c42\u6027\u7684\u7248\u672c\uff0c\u5e76\u8fdb\u884c\u76f8\u5e94\u7684\u8c03\u6574\u3002.<\/p>\n<p>\u5728\u6cd5\u56fd\uff0c\u635f\u76ca\u8868\u5fc5\u987b\u00ab\u6309\u6027\u8d28\u00bb\u5217\u793a\uff0c\u800c\u4e0d\u662f\u50cf\u6211\u4eec\u7a0d\u540e\u5c06\u5728\u672c\u8bfe\u7a0b\u4e2d\u8ba8\u8bba\u7684\u90a3\u6837\u00ab\u6309\u529f\u80fd\u00bb\u5217\u793a\u3002.<\/p>\n<p>\u6cd5\u5f8b\u4e0a\u6709\u4e24\u79cd\u683c\u5f0f\uff1a<\/p>\n<ul>\n<li>\u6a2a\u5411\u683c\u5f0f\uff08\u7ecf\u5178\u7684\u00ab\u8bb0\u8d26\u00bb\uff09\u2192\u5bf9\u521d\u5b66\u8005\u6765\u8bf4\u975e\u5e38\u6709\u6559\u80b2\u610f\u4e49\u3002.<\/li>\n<li>\u5782\u76f4\u683c\u5f0f\uff08\u5206\u7ea7\u5217\u8868\uff09\u2192 \u662f\u5b9e\u8df5\u548c\u8003\u8bd5\uff08DCG\u3001DSCG \u7b49\uff09\u4e2d\u6700\u5e38\u7528\u7684\u683c\u5f0f\uff0c\u56e0\u4e3a\u5b83\u663e\u793a\u4e86\u5bf9\u5206\u6790\u6709\u7528\u7684\u4e2d\u95f4\u4f59\u989d\uff08\u7ecf\u8425\u7ed3\u679c\u3001\u5f53\u524d\u7ed3\u679c\u7b49\uff09\u3002.<\/li>\n<\/ul>\n<p>\u4e24\u79cd\u683c\u5f0f\u7684\u6548\u679c\u76f8\u540c\uff0c\u6700\u7ec8\u7ed3\u679c\u4e00\u81f4\u3002\u5177\u4f53\u9009\u62e9\u53d6\u51b3\u4e8e\u5177\u4f53\u60c5\u51b5\uff08\u8bfe\u7a0b\u3001\u7eb3\u7a0e\u7533\u62a5\u3001\u5ba2\u6237\u62a5\u544a\uff09\u3002.<\/p>\n<h3>\u6a2a\u5411\u683c\u5f0f\uff08\u4e24\u5217\u8868\u683c\uff09<\/h3>\n<table>\n<thead>\n<tr>\n<th data-col-size=\"md\"><strong>\u4ea7\u54c1<\/strong><\/th>\n<th data-col-size=\"lg\"><strong>\u8d39\u7528<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td data-col-size=\"md\">\u51c0\u6536\u5165<\/td>\n<td data-col-size=\"lg\">\u8d2d\u4e70\u5546\u54c1<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\">\u50a8\u5b58\u7684\u751f\u4ea7<\/td>\n<td data-col-size=\"lg\">\u5546\u54c1\u5e93\u5b58\u53d8\u5316<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\">\u56fa\u5b9a\u8d44\u4ea7\u751f\u4ea7<\/td>\n<td data-col-size=\"lg\">\u539f\u6750\u6599\u91c7\u8d2d\u548c\u4f9b\u5e94<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\">\u8fd0\u8425\u8865\u8d34<\/td>\n<td data-col-size=\"lg\">\u539f\u6750\u6599\u5e93\u5b58\u53d8\u5316<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\">\u5176\u4ed6\u8425\u4e1a\u6536\u5165<\/td>\n<td data-col-size=\"lg\">\u5176\u4ed6\u8d2d\u4e70\u548c\u5916\u90e8\u8d39\u7528<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\">\u6298\u65e7\u548c\u62e8\u5907\u7684\u51b2\u9500<\/td>\n<td data-col-size=\"lg\">\u7a0e\u6b3e\u3001\u5173\u7a0e\u53ca\u7c7b\u4f3c\u4ed8\u6b3e<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\">\u91d1\u878d\u4ea7\u54c1<\/td>\n<td data-col-size=\"lg\">\u5de5\u8d44\u548c\u85aa\u91d1<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\">\u5353\u8d8a\u7684\u4ea7\u54c1<\/td>\n<td data-col-size=\"lg\">\u793e\u4f1a\u8d39\u7528<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\">\u6298\u65e7\u548c\u62e8\u5907<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\">\u8d22\u52a1\u8d39\u7528<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\">\u7279\u6b8a\u6536\u8d39<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\">\u5458\u5de5\u53c2\u4e0e\u7ed3\u679c<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\">\u5229\u6da6\u7a0e<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u603b\u4ea7\u54c1<\/strong><\/td>\n<td data-col-size=\"lg\"><strong>\u603b\u8d39\u7528<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u2192 \u8d22\u653f\u5e74\u5ea6\u51c0\u4e1a\u7ee9<\/strong> \uff08\u76c8\u5229\u6216\u4e8f\u635f\uff09<\/td>\n<td data-col-size=\"lg\">\uff08\u4e3a\u4e86\u5e73\u8861\u9910\u684c\uff09<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>\u5782\u76f4\u683c\u5f0f\uff08\u5206\u7ea7\u5217\u8868\uff0c\u5305\u542b\u4e2d\u95f4\u9500\u552e\u73af\u8282\uff09\u2014\u2014\u5b98\u65b9\u7248\u672c<\/h3>\n<p>\u7ad6\u5f0f\u683c\u5f0f\u663e\u793a\u4e2d\u95f4\u4f59\u989d\uff08I \u81f3 XI\uff09\uff0c\u4ee5\u4fbf\u66f4\u597d\u5730\u8fdb\u884c\u4e1a\u7ee9\u5206\u6790\u3002\u5b9e\u9645\u4e0a\uff0c\u4f1a\u8ba1\u5e08\u53d1\u9001\u7ed9\u5ba2\u6237\u7684\u635f\u76ca\u8868\u662f\u7b80\u5316\u7684\u3001\u9762\u5411\u7ba1\u7406\u5c42\u7684\u7248\u672c\uff1a\u5b83\u5305\u542b\u8425\u4e1a\u5229\u6da6\uff0c\u4f46\u4e0d\u5305\u542b EBITDA\uff0cEBITDA \u901a\u5e38\u4fdd\u7559\u5728\u8865\u5145\u5206\u6790\u6587\u4ef6\uff08\u7ba1\u7406\u62a5\u544a\u3001\u9884\u6d4b\u7b49\uff09\u4e2d\u3002\u8bfe\u7a0b\u7ed3\u675f\u65f6\uff0c\u6211\u4f1a\u5411\u60a8\u5c55\u793a\u60a8\u4f5c\u4e3a\u4f01\u4e1a\u4e3b\u4ece\u4f1a\u8ba1\u5e08\u90a3\u91cc\u6536\u5230\u7684\u6807\u51c6\u7248\u672c\uff0c\u4f46\u4e3a\u4e86\u8ba9\u60a8\u4e00\u6b21\u6027\u5168\u9762\u7406\u89e3\u635f\u76ca\u8868\u548c\u4e2d\u95f4\u7ba1\u7406\u4f59\u989d\uff0c\u8fd9\u91cc\u5148\u4ecb\u7ecd\u4e00\u4e2a\u6700\u8be6\u7ec6\u7684\u7248\u672c\u4f9b\u60a8\u53c2\u8003\uff1a<\/p>\n<p><strong>\u635f\u76ca\u8868\uff08\u7ad6\u7248\u683c\u5f0f - \u672c\u8d28\u4e0a\u5982\u6b64\uff09<\/strong><\/p>\n<p><strong>\u4e00\u3001\u7ec3\u4e60\u7684\u5236\u4f5c<\/strong><br \/>\n+ \u51c0\u6536\u5165<br \/>\n+ \u50a8\u5b58\u7684\u751f\u4ea7<br \/>\n+ \u8d44\u672c\u5316\u751f\u4ea7<\/p>\n<p><strong>\u4e8c\u3001\u8fd0\u52a8\u7684\u6d88\u8017<\/strong><br \/>\n\u5546\u54c1\u91c7\u8d2d<br \/>\n\u5546\u54c1\u5e93\u5b58\u53d8\u5316<br \/>\n\u539f\u6750\u6599\u91c7\u8d2d<br \/>\n\u539f\u6750\u6599\u5e93\u5b58\u53d8\u5316<br \/>\n\u5176\u4ed6\u91c7\u8d2d\u548c\u5916\u90e8\u652f\u51fa<\/p>\n<p><strong>\u4e09\u3001\u7ecf\u8425\u589e\u52a0\u503c\uff08I \u2013 II\uff09<\/strong><\/p>\n<p><strong>\u56db\u3001\u603b\u8425\u4e1a\u76c8\u4f59<\/strong><br \/>\n+ \u8fd0\u8425\u8865\u8d34<br \/>\n\u2013 \u7a0e\u6b3e\u3001\u5173\u7a0e\u53ca\u7c7b\u4f3c\u6b3e\u9879<br \/>\n\u2013 \u4eba\u5458\u6210\u672c\uff08\u5de5\u8d44+\u793e\u4fdd\u7f34\u6b3e\uff09<\/p>\n<p><strong>\u4e94\u3001\u7ecf\u8425\u4e1a\u7ee9\/\u8425\u4e1a\u5229\u6da6<\/strong><br \/>\n+ \u5176\u4ed6\u8425\u4e1a\u6536\u5165<br \/>\n+ \u62e8\u5907\u548c\u6298\u65e7\u7684\u51b2\u56de<br \/>\n\u5176\u4ed6\u8fd0\u8425\u8d39\u7528<br \/>\n\u6298\u65e7\u548c\u51c6\u5907\u91d1<\/p>\n<p><strong>\u516d\u3001\u8d22\u52a1\u4e1a\u7ee9<\/strong><br \/>\n+ \u91d1\u878d\u4ea7\u54c1<br \/>\n\u2013 \u8d22\u52a1\u8d39\u7528<\/p>\n<p><strong>VII. \u7a0e\u524d\u5229\u6da6\uff08V + VI\uff09<\/strong><\/p>\n<p><strong>\u7b2c\u516b\u90e8\u5206\uff1a\u65e5\u5e38\u6d3b\u52a8\u6210\u679c\uff08\u5982\u6240\u5217\uff09<\/strong><\/p>\n<p><strong>\u4e5d\u3001\u5353\u8d8a\u6210\u679c<\/strong><br \/>\n+ \u51fa\u8272\u7684\u4ea7\u54c1<br \/>\n\u2013 \u7279\u6b8a\u652f\u51fa<\/p>\n<p><strong>X. \u5e74\u5ea6\u51c0\u5229\u6da6\uff08VII + IX \u2013 \u6240\u5f97\u7a0e \u2013 \u5458\u5de5\u5229\u6da6\u5206\u4eab\uff09<\/strong><\/p>\n<p><strong>\u5341\u4e00\u3001\u5408\u5e76\u96c6\u56e2\u51c0\u5229\u6da6\uff08\u5982\u5408\u5e76\uff09<\/strong><\/p>\n<p>\u4f18\u52bf\uff1a\u66f4\u4fbf\u4e8e\u5206\u6790\u3002\u7ed3\u679c\u7a76\u7adf\u6765\u81ea\u65e5\u5e38\u8fd0\u8425\u3001\u878d\u8d44\u8fd8\u662f\u7279\u6b8a\u64cd\u4f5c\uff0c\u4e00\u76ee\u4e86\u7136\u3002.<\/p>\n<p>\u6ce8\u610f\uff0c\u8981\u7406\u89e3\u635f\u76ca\u8868\u7684\u6784\u6210\uff0c\u6709\u4e00\u4e2a\u867d\u5c0f\u4f46\u5f88\u91cd\u8981\u7684\u7ec6\u8282\uff1a<\/p>\n<p>\u7ecf\u8425\u4f59\u989d\uff08\u589e\u52a0\u503c\u3001\u8425\u4e1a\u6bdb\u76c8\u4f59\u3001\u8425\u4e1a\u5229\u6da6\uff09 <strong>\u8fdb\u6b65\u4eba\u58eb<\/strong> \u548c <strong>\u7d2f\u8ba1<\/strong> \u6211\u4eec\u9010\u6b65\u589e\u52a0\u6216\u51cf\u5c11\u6784\u6210\u516c\u53f8\u5f53\u524d\u4e1a\u52a1\u6d3b\u52a8\u7684\u8981\u7d20\u3002.<\/p>\n<p>\u4f8b\u5982\uff1a\u8981\u8ba1\u7b97 EBITDA\uff0c\u6211\u4eec\u5c06\u7ecf\u8425\u8865\u8d34\u52a0\u603b\uff0c\u7136\u540e\u4ece\u4e4b\u524d\u7684\u4f59\u989d\uff08\u5373\u589e\u52a0\u503c\uff09\u4e2d\u51cf\u53bb\u7a0e\u6b3e\uff08\u4e0d\u5305\u62ec\u4f01\u4e1a\u6240\u5f97\u7a0e\uff09\u548c\u4eba\u5458\u6210\u672c\u3002.<\/p>\n<p>\u7136\u800c\uff0c\u8d22\u52a1\u4e1a\u7ee9\u548c\u7279\u522b\u4e1a\u7ee9\u7684\u8ba1\u7b97\u65b9\u6cd5\u662f\u2026\u2026 <strong>\u72ec\u7acb<\/strong> \uff08\u5c31\u50cf\u4e24\u4efd\u72ec\u7acb\u7684\u00ab\u8ff7\u4f60\u635f\u76ca\u8868\u00bb\uff09\uff1a<\/p>\n<ul>\n<li>\u9996\u5148\uff0c\u6211\u4eec\u8ba1\u7b97\u76f8\u5173\u7c7b\u522b\u4e2d\u7684\u4ea7\u54c1\u603b\u6570\uff0c,<\/li>\n<li>\u6211\u4eec\u5c06\u540c\u4e00\u7c7b\u522b\u7684\u6240\u6709\u8d39\u7528\u52a0\u8d77\u6765\u3002,<\/li>\n<li>\u6211\u4eec\u4ec5\u9488\u5bf9\u6b64\u7c7b\u522b\u5f97\u51fa\u51c0\u4f59\u989d\uff08\u6b63\u503c\u6216\u8d1f\u503c\uff09\u3002.<\/li>\n<li>\u7136\u540e\u5c06\u6b64\u51c0\u4f59\u989d\u52a0\uff08\u6216\u51cf\uff09\u6389\u3002 <strong>\u56de\u5230\u4e0a\u4e00\u4e2a\u4f59\u989d<\/strong> \u5f97\u5230\u4ee5\u4e0b\u7ed3\u679c\u3002.<\/li>\n<\/ul>\n<p>\u4f8b\u5982\uff1a\u5bf9\u4e8e\u8d22\u52a1\u7ed3\u679c\uff0c\u6211\u4eec\u8ba1\u7b97\u6263\u9664\u8d22\u52a1\u8d39\u7528\u540e\u7684\u91d1\u878d\u4ea7\u54c1\u51c0\u503c\uff0c\u5e76\u5c06\u6b64\u72ec\u7acb\u7684\u00ab\u7ed3\u679c\u00bb\u52a0\u5230\uff08\u6216\u51cf\u53bb\uff09\u5148\u524d\u7684\u4f59\u989d\uff08REX\uff09\u4e2d\uff0c\u4ee5\u5f97\u51fa\u7a0e\u524d\u5f53\u524d\u7ed3\u679c\u3002.<\/p>\n<p>\u8fd9\u5c31\u50cf\u516c\u53f8\u5206\u522b\u7f16\u5236\u4e86\u4e09\u4efd\u635f\u76ca\u8868\uff08\u7ecf\u8425\u635f\u76ca\u8868\u3001\u8d22\u52a1\u635f\u76ca\u8868\u548c\u975e\u5e38\u89c4\u635f\u76ca\u8868\uff09\uff0c\u7136\u540e\u5c06\u5b83\u4eec\u76f8\u52a0\u3002\u7406\u89e3\u8fd9\u79cd\u7ec6\u5fae\u5dee\u522b\u81f3\u5173\u91cd\u8981\u3002.<\/p>\n<p>\u603b\u4e4b\uff1a <strong>\u7ecf\u8425\u4f59\u989d\u50cf\u7011\u5e03\u4e00\u6837\u4e0d\u65ad\u7d2f\u79ef\uff0c\u800c\u8d22\u52a1\u7ed3\u679c\u548c\u975e\u5e38\u89c4\u7ed3\u679c\u5219\u662f\u72ec\u7acb\u7684\u6a21\u5757\uff0c\u5728\u635f\u76ca\u8868\u4e2d\u7684\u7279\u5b9a\u70b9\u8fdb\u884c\u6c47\u603b\u3002<\/strong>.<\/p>\n<p>\u8fd8\u5e94\u6ce8\u610f\u7684\u662f\uff0c\u7a0e\u524d\u5229\u6da6\uff08\u7b2c\u4e03\u884c\uff09\u548c\u65e5\u5e38\u7ecf\u8425\u6d3b\u52a8\u5229\u6da6\uff08\u7b2c\u516b\u884c\uff09\u662f\u76f8\u540c\u7684\u3002.<\/p>\n<p>\u7b2c\u4e00\u9879\u662f\u901a\u8fc7\u76f4\u63a5\u76f8\u52a0\uff08\u7ecf\u8425\u6d3b\u52a8 + \u8d22\u52a1\u6d3b\u52a8\uff09\u5f97\u51fa\u7684\u3002\u7b2c\u4e8c\u9879\u5219\u901a\u8fc7\u4ece\u603b\u6536\u5165\u4e2d\u51cf\u53bb\u603b\u652f\u51fa\u6765\u66f4\u8be6\u7ec6\u5730\u5217\u51fa\u3002.<\/p>\n<p>\u4e24\u8005\u90fd\u8861\u91cf\u516c\u53f8\u7684\u7ecf\u5e38\u6027\u4e1a\u7ee9\uff0c\u4e0d\u5305\u62ec\u7279\u6b8a\u4e8b\u4ef6\u548c\u7a0e\u6536\u3002.<\/p>\n<p>\u73b0\u5728\u6211\u4eec\u5c06\u9010\u9879\u5206\u6790\u5176\u5728\u6536\u5165\u548c\u652f\u51fa\u65b9\u9762\u7684\u542b\u4e49\u3002\u4f46\u5728\u6b64\u4e4b\u524d\uff0c\u8bf7\u5141\u8bb8\u6211\u5148\u7b80\u8981\u4ecb\u7ecd\u4e00\u4e0b\u603b\u8d26\u79d1\u76ee\u8868\u3002<\/p>\n<h2>\u603b\u4f1a\u8ba1\u8ba1\u5212\uff08PCG\uff09<\/h2>\n<p>\u5728\u6cd5\u56fd\u901a\u7528\u4f1a\u8ba1\u51c6\u5219\uff08PCG\uff09\u4e2d\uff0c\u6240\u6709\u8d22\u52a1\u8d26\u6237\uff08\u4f8b\u5982\u5546\u54c1\u91c7\u8d2d\u3001\u4eba\u4e8b\u8d39\u7528\u7b49\uff09\u90fd\u6309\u7c7b\u522b\u5206\u7ec4\u5e76\u5206\u914d\u7f16\u53f7\u3002\u4f8b\u5982\uff0c\u4eba\u4e8b\u8d39\u7528\u5c5e\u4e8e\u7b2c64\u53f7\u8d26\u6237\u3002.<\/p>\n<p>\u7a0d\u540e\u6211\u4f1a\u8be6\u7ec6\u8ba8\u8bba PCG\uff0c\u7279\u522b\u662f\u5bf9\u4e8e\u6cd5\u56fd\u8bfb\u8005\uff0c\u56e0\u4e3a\u8fd9\u4efd\u6587\u4ef6\u4e13\u95e8\u6d89\u53ca\u6cd5\u56fd\u6807\u51c6\uff0c\u4f46\u4e3a\u4e86\u8ba9\u6240\u6709\u4eba\u90fd\u80fd\u7406\u89e3\uff1aPCG \u57fa\u672c\u4e0a\u53ef\u4ee5\u8ba9\u4f60\u627e\u5230\u4f1a\u8ba1\u4ea4\u6613\u6240\u6d89\u53ca\u7684\u8d26\u53f7\u3002.<\/p>\n<p>\u5728\u6cd5\u56fd\u901a\u7528\u4f1a\u8ba1\u51c6\u5219\uff08PCG\uff09\u4e2d\uff0c\u6240\u6709\u4e0e\u635f\u76ca\u8868\u76f8\u5173\u7684\u8d26\u6237\u90fd\u4f4d\u4e8e\u7b2c6\u7c7b\uff08\u8d39\u7528\u8d26\u6237\uff09\u548c\u7b2c7\u7c7b\uff08\u6536\u5165\u8d26\u6237\uff09\u4e2d\u3002\u6240\u6709\u5176\u4ed6\u8d26\u6237\u90fd\u4e0e\u8d44\u4ea7\u8d1f\u503a\u8868\u76f8\u5173\u3002.<\/p>\n<p>PCG \u7684\u56fd\u9645\u5bf9\u5e94\u6807\u51c6\u662f IFRS \u6807\u51c6\u3002.<\/p>\n<p>\u8fd9\u5f20\u56fe\u53ef\u4ee5\u8ba9\u60a8\u5927\u81f4\u4e86\u89e3 PCG \u4e2d\u5305\u542b\u7684\u8d26\u6237\uff0c\u8fd9\u91cc\u7684\u635f\u76ca\u8868\u5305\u542b\u7b2c 6 \u5217\u548c\u7b2c 7 \u5217\uff0c\u4ee5\u53ca\u8425\u4e1a\u8d39\u7528\u8d26\u6237 60 \u81f3 65\uff0c\u4ee5\u53ca\u8d26\u6237 68\uff1a<\/p>\n<figure id=\"attachment_5742\" aria-describedby=\"caption-attachment-5742\" style=\"width: 676px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-5742\" src=\"https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/PCG-676x1024.png\" alt=\"\u901a\u7528\u4f1a\u8ba1\u8ba1\u5212\" width=\"676\" height=\"1024\" title=\"\" srcset=\"https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/PCG-676x1024.png 676w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/PCG-198x300.png 198w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/PCG-8x12.png 8w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/PCG-600x908.png 600w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/PCG.png 716w\" sizes=\"auto, (max-width: 676px) 100vw, 676px\" \/><figcaption id=\"caption-attachment-5742\" class=\"wp-caption-text\">\u901a\u7528\u4f1a\u8ba1\u8ba1\u5212<\/figcaption><\/figure>\n<p>\u5982\u679c\u60a8\u76ee\u524d\u5bf9\u8fd9\u4efd\u6587\u4ef6\u8fd8\u4e0d\u719f\u6089\uff0c\u8bf7\u4e0d\u8981\u62c5\u5fc3\uff1a\u6211\u7a0d\u540e\u4f1a\u89e3\u91ca\u3002\u73b0\u5728\uff0c\u60a8\u53ea\u9700\u4e86\u89e3\u6cd5\u56fd\u901a\u7528\u4f1a\u8ba1\u51c6\u5219\uff08PCG\uff09\u5217\u51fa\u4e86\u6bcf\u4e2a\u8d26\u6237\uff08\u8d39\u7528\u8d26\u6237\u3001\u6536\u5165\u8d26\u6237\u6216\u8d44\u4ea7\u8d1f\u503a\u8868\u8d26\u6237\uff09\u3002\u5173\u4e8e\u635f\u76ca\u8868\uff0c\u6cd5\u56fd\u4f1a\u8ba1\u51c6\u5219\u4e3a\u6bcf\u4e2a\u8d39\u7528\u6216\u6536\u5165\u8d26\u6237\u5206\u914d\u4e00\u4e2a\u7f16\u53f7\uff0c\u4ee5\u4fbf\u5728\u4f1a\u8ba1\u5904\u7406\u8fc7\u7a0b\u4e2d\u8fdb\u884c\u8d26\u6237\u5206\u7c7b\u548c\u8f7b\u677e\u8bc6\u522b\u3002.<\/p>\n<p>\u5982\u679c\u60a8\u662f\u56fd\u9645\u8bfb\u8005\uff0cPCG \u4e0e\u60a8\u65e0\u5173\uff0c\u6211\u4eec\u7a0d\u540e\u4f1a\u518d\u8ba8\u8bba IFRS \u6807\u51c6\u3002.<\/p>\n<p>\u8fd9\u6bb5\u9898\u5916\u8bdd\u53ea\u662f\u4e3a\u4e86\u89e3\u91ca\u4e3a\u4ec0\u4e48\u5728\u672c\u8bfe\u7a0b\u7684\u5176\u4f59\u90e8\u5206\u4e2d\uff0c\u4e00\u4e9b\u8d26\u6237\u4f1a\u88ab\u7f16\u53f7\uff0c\u4ee5\u4fbf\u5f00\u59cb\u63d0\u9ad8\u4eba\u4eec\u5bf9\u8fd9\u4e9b\u7f16\u53f7\u7684\u8ba4\u8bc6\uff0c\u7279\u522b\u662f\u5bf9\u4e8e\u672c\u8bfe\u7a0b\u7684\u6cd5\u56fd\u8bfb\u8005\u800c\u8a00\u3002.<\/p>\n<p>\u73b0\u5728\u6211\u4eec\u56de\u5230\u635f\u76ca\u8868\u3002.<\/p>\n<h2>\u6309\u6027\u8d28\u5212\u5206\u7684\u635f\u76ca\u8868\u4e0e\u5730\u7406\u4fe1\u606f\u7cfb\u7edf\u4e4b\u95f4\u7684\u8054\u7cfb<\/h2>\n<p>\u4e2d\u671f\u7ba1\u7406\u4f59\u989d\uff08IMB\uff09\u662f\u7528\u4e8e\u4ece\u5206\u6790\u89d2\u5ea6\u8bc4\u4f30\u516c\u53f8\u7ba1\u7406\u6c34\u5e73\u7684\u7ba1\u7406\u6307\u6807\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u5b83\u4eec\u53ef\u4ee5\u5bf9\u635f\u76ca\u8868\u8fdb\u884c\u7ec6\u5206\uff0c\u4ece\u800c\u89e3\u91ca\u548c\u5206\u6790\u6700\u7ec8\u7684\u51c0\u5229\u6da6\u3002.<\/p>\n<p>\u6cd5\u56fdPCG\u63a8\u8350\u7684\u5b98\u65b9\u635f\u76ca\u8868\u7ed3\u6784\u6709\u8da3\u4e4b\u5904\u5728\u4e8e\uff0c\u8be5\u7ed3\u6784\u5141\u8bb8\u5c06\u635f\u76ca\u8868\u5206\u89e3\u4e3a\u5177\u6709\u4e0d\u540c\u4e2d\u95f4\u4f59\u989d\u7684\u8868\u683c\uff1a\u7ecf\u8425\u6210\u679c\uff08\u4e0e\u516c\u53f8\u7684\u7ecf\u8425\u6d3b\u52a8\u76f8\u5173\uff0c\u56e0\u6b64\u4e0e\u5176\u4e3b\u8981\u4e1a\u52a1\u76f8\u5173\uff09\u3001\u8d22\u52a1\u6210\u679c\uff08\u4e0e\u516c\u53f8\u7684\u8d22\u52a1\u653f\u7b56\u76f8\u5173\uff0c\u4f8b\u5982\u503a\u52a1\u6210\u672c\uff0c\u6216\u4e0e\u5176\u91d1\u878d\u6295\u8d44\u76f8\u5173\u7684\u6536\u76ca\uff0c\u8fd9\u4e9b\u6295\u8d44\u5e76\u975e\u516c\u53f8\u7684\u4e3b\u8981\u4e1a\u52a1\uff09\uff0c\u4ee5\u53ca\u6700\u7ec8\u7684\u975e\u7ecf\u5e38\u6027\u6210\u679c\uff08\u56e0\u6b64\u4e0e\u4e0d\u5c5e\u4e8e\u516c\u53f8\u4e3b\u8981\u4e1a\u52a1\u7684\u7279\u6b8a\u4e8b\u4ef6\u76f8\u5173\u7684\u635f\u76ca\uff09\u3002.<\/p>\n<p>\u6309\u6027\u8d28\u5212\u5206\u7684\u635f\u76ca\u8868\uff08PCG\uff09\u53ef\u4ee5\u7528\u4e24\u79cd\u4e92\u8865\u7684\u65b9\u5f0f\u5448\u73b0\uff1a<\/p>\n<ul>\n<li>\u6309\u4e3b\u8981\u7c7b\u522b\uff08\u8fd0\u8425\/\u8d22\u52a1\/\u975e\u5e38\u89c4\uff09\u5212\u5206\u7684\u4f20\u7edf\u7ed3\u6784\uff1a\u8fd9\u662f\u6700\u7b26\u5408\u6cd5\u5f8b\u89c4\u5b9a\u7684\u5b98\u65b9\u7ed3\u6784\uff0c\u6240\u6709\u9879\u76ee\u5747\u5df2\u8be6\u7ec6\u5217\u51fa\u3002\u5b83\u6700\u6709\u52a9\u4e8e\u7406\u89e3\u5b98\u65b9\u4f59\u989d\uff08\u606f\u7a0e\u524d\u5229\u6da6\u3001\u8d44\u672c\u5145\u8db3\u7387\u3001\u51c0\u5229\u6da6\uff09\u7684\u8ba1\u7b97\u3002.<\/li>\n<li>\u8fd9\u79cd\u57fa\u4e8e\u7ecf\u6d4e\u5468\u671f\u7684\u5206\u6790\u65b9\u6cd5\uff08\u7075\u611f\u6765\u81eaVernimmen\uff09\u66f4\u52a0\u7b80\u6d01\u660e\u4e86\uff0c\u4e5f\u66f4\u5177\u6559\u80b2\u610f\u4e49\u3002\u5b83\u5c06\u5404\u9879\u6307\u6807\u5206\u7ec4\uff0c\u4ee5\u4fbf\u66f4\u597d\u5730\u5c55\u73b0\u8d22\u5bcc\u521b\u9020\u7684\u903b\u8f91\uff0c\u5e76\u6e05\u6670\u5730\u663e\u793a\u4e86\u603b\u8425\u4e1a\u76c8\u4f59\uff08GOS\uff09\u3002.<\/li>\n<\/ul>\n<p>\u8fd9\u91cc\u5c06\u4e24\u5f20\u8868\u683c\u5e76\u6392\u5217\u51fa\uff0c\u4ee5\u4fbf\u60a8\u6709\u65f6\u95f4\u5145\u5206\u4e86\u89e3\u635f\u76ca\u8868\u7684\u672c\u8d28\u3002.<\/p>\n<h3>\u6309\u4e3b\u8981\u7c7b\u522b\u8fdb\u884c\u4f20\u7edf\u5206\u7c7b<\/h3>\n<table>\n<thead>\n<tr>\n<th data-col-size=\"md\">\u7c7b\u522b<\/th>\n<th data-col-size=\"md\">\u4ea7\u54c1<\/th>\n<th data-col-size=\"lg\">\u8d39\u7528<\/th>\n<th data-col-size=\"lg\">\u652f\u4ed8<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td data-col-size=\"md\"><strong>\u5f00\u53d1<\/strong><\/td>\n<td data-col-size=\"md\">\u51c0\u9500\u552e\u989d + \u5e93\u5b58\/\u56fa\u5b9a\u751f\u4ea7 + \u8865\u8d34 + \u5176\u4ed6 + \u51b2\u9500<\/td>\n<td data-col-size=\"lg\">\u91c7\u8d2d + \u5e93\u5b58\u53d8\u52a8 + \u539f\u6750\u6599\u548c\u5546\u54c1 + \u5916\u90e8\u8d39\u7528 + \u7a0e\u91d1 + \u5de5\u8d44 + \u793e\u4fdd\u7f34\u6b3e + \u5206\u914d + \u5176\u4ed6<\/td>\n<td data-col-size=\"lg\">\u8425\u4e1a\u5229\u6da6<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u91d1\u878d\u7684<\/strong><\/td>\n<td data-col-size=\"md\">\u6536\u5230\u7684\u5229\u606f + \u5176\u4ed6<\/td>\n<td data-col-size=\"lg\">\u5df2\u4ed8\u5229\u606f + \u5206\u914d\u989d<\/td>\n<td data-col-size=\"lg\">\u8d22\u52a1\u4e1a\u7ee9<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u5f53\u524d\u7a0e\u524d\u4e1a\u7ee9<\/strong><\/td>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\"><\/td>\n<td data-col-size=\"lg\">\uff08\u8fd0\u8425+\u8d22\u52a1\uff09<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u5353\u8d8a\u7684<\/strong><\/td>\n<td data-col-size=\"md\">\u5f02\u5e38\u6536\u76ca + \u6062\u590d\u4ea4\u6613<\/td>\n<td data-col-size=\"lg\">\u5f02\u5e38\u635f\u5931 + \u5956\u91d1<\/td>\n<td data-col-size=\"lg\">\u5353\u8d8a\u7684\u6210\u679c<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u5176\u4ed6\u7684<\/strong><\/td>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\">\u5458\u5de5\u5229\u6da6\u5206\u4eab + \u5229\u6da6\u7a0e<\/td>\n<td data-col-size=\"lg\"><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u6700\u7ec8\u7ed3\u679c<\/strong><\/td>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\"><\/td>\n<td data-col-size=\"lg\">\uff08\u6574\u4e2a\u9876\u90e8\uff09<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>\u635f\u76ca\u8868\u5206\u6790\u7248<\/h3>\n<table>\n<thead>\n<tr>\n<th data-col-size=\"sm\">\u5faa\u73af<\/th>\n<th data-col-size=\"xl\">\u8be6\u7ec6\u9879\u76ee\uff08PCG\uff09<\/th>\n<th data-col-size=\"lg\">\u516c\u5f0f\/\u6ce8\u91ca<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td data-col-size=\"sm\"><strong>\u8fd0\u884c\u5468\u671f<\/strong><\/td>\n<td data-col-size=\"xl\"><strong>\u7ec3\u4e60\u7684\u5236\u4f5c\uff1a<\/strong><\/p>\n<ul>\n<li>\u51c0\u6536\u5165<\/li>\n<li>\u50a8\u5b58\u7684\u751f\u4ea7<\/li>\n<li>\u56fa\u5b9a\u8d44\u4ea7\u751f\u4ea7<\/li>\n<\/ul>\n<p><strong>\u5176\u4ed6\u8425\u4e1a\u6536\u5165\uff1a<\/strong><\/p>\n<ul>\n<li>\u8fd0\u8425\u8865\u8d34<\/li>\n<li>\u5176\u4ed6\u8425\u4e1a\u6536\u5165\uff08\u4e0d\u5305\u62ec\u56de\u8d2d\u548c\u975e\u73b0\u91d1\u9879\u76ee\uff09<\/li>\n<\/ul>\n<p>\u2013 <strong>\u6d88\u8017\u548c\u8fd0\u8425\u6210\u672c\uff1a<\/strong><\/p>\n<ul>\n<li>\uff08\u5546\u54c1\u91c7\u8d2d - \u5546\u54c1\u5e93\u5b58\u53d8\u52a8\uff09<\/li>\n<li>\uff08\u539f\u6750\u6599\u91c7\u8d2d\u2014\u2014\u539f\u6750\u6599\u5e93\u5b58\u53d8\u5316\uff09<\/li>\n<li>\u5176\u4ed6\u8d2d\u4e70\u548c\u5916\u90e8\u8d39\u7528<\/li>\n<li>\u5458\u5de5\u6210\u672c<\/li>\n<li>\u7a0e\u8d39\uff08\u4e0d\u542b\u4f01\u4e1a\u6240\u5f97\u7a0e\uff09<\/li>\n<li>\u5176\u4ed6\u8fd0\u8425\u8d39\u7528\uff08\u4e0d\u5305\u62ec\u975e\u73b0\u91d1\u9879\u76ee\uff09<\/li>\n<\/ul>\n<\/td>\n<td data-col-size=\"lg\">= <strong>\u8425\u4e1a\u603b\u76c8\u4f59 (GOS)<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"sm\"><strong>\u6295\u8d44\u5468\u671f<\/strong><\/td>\n<td data-col-size=\"xl\">\u2013 \u6298\u65e7\u548c\u51c6\u5907\u91d1\uff08\u8fd0\u8425\u8d39\u7528\uff09<br \/>\n+ \u6298\u65e7\u548c\u51c6\u5907\u91d1\u7684\u8f6c\u56de<\/td>\n<td data-col-size=\"lg\">= <strong>\u8425\u4e1a\u5229\u6da6\uff08EBIT\uff09<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"sm\"><strong>\u8d44\u91d1\u5468\u671f<\/strong><\/td>\n<td data-col-size=\"xl\">+ \u8d22\u52a1\u6536\u5165 \u2013 \u8d22\u52a1\u51c0\u652f\u51fa \u2013 \u62e8\u5907<\/td>\n<td data-col-size=\"lg\">= <strong>\u5f53\u524d\u7a0e\u524d\u4e1a\u7ee9<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"sm\"><strong>\u975e\u7ecf\u5e38\u6027\u4ea4\u6613<\/strong><\/td>\n<td data-col-size=\"xl\">+ \u7279\u6b8a\u6536\u5165 \u2013 \u7279\u6b8a\u652f\u51fa \u2013 \u62e8\u5165\u7279\u6b8a\u51c6\u5907\u91d1<\/td>\n<td data-col-size=\"lg\">= <strong>\u5353\u8d8a\u7684\u6210\u679c<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"sm\"><strong>\u6700\u7ec8\u7ed3\u679c<\/strong><\/td>\n<td data-col-size=\"xl\">\u2013 \u5458\u5de5\u5229\u6da6\u5206\u4eab\uff08\u5982\u9002\u7528\uff09 \u2013 \u6240\u5f97\u7a0e<\/td>\n<td data-col-size=\"lg\">= <strong>\u6700\u7ec8\u7ed3\u679c<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u5728\u6b64\u5206\u6790\u8868\u4e2d\uff0c\u7b2c\u4e00\u90e8\u5206\uff08\u5e74\u5ea6\u4ea7\u91cf - \u8fd0\u8425\u8d39\u7528\u548c\u6d88\u8017\uff09\u5bf9\u5e94\u4e8e\u8fd0\u8425\u5468\u671f\u3002\u5b83\u8861\u91cf\u7684\u662f\u516c\u53f8\u4e3b\u8981\u4e1a\u52a1\u6d3b\u52a8\u5b9e\u9645\u521b\u9020\u7684\u8d22\u5bcc\uff0c\u800c\u672a\u8ba1\u5165\u6295\u8d44\u635f\u8017\uff08\u6298\u65e7\uff09\u3002\u56e0\u6b64\uff0c\u6211\u4eec\u53ef\u4ee5\u76f4\u63a5\u5f97\u51fa\u6bdb\u8425\u4e1a\u5229\u6da6\uff08EBITDA\uff09\u3002.<\/p>\n<p>\u6b63\u662f\u8fd9\u4e9b\u4e0d\u540c\u4f59\u989d\u7684\u603b\u548c\u4f7f\u6211\u4eec\u80fd\u591f\u5f97\u51fa\u51c0\u7ed3\u679c\uff0c\u66f4\u91cd\u8981\u7684\u662f\u80fd\u591f\u89e3\u91ca\u5b83\uff0c\u56e0\u4e3a\u4e24\u5bb6\u516c\u53f8\u53ef\u80fd\u5177\u6709\u76f8\u4f3c\u7684\u51c0\u7ed3\u679c\uff0c\u4f46\u4e00\u5bb6\u516c\u53f8\u5728\u8fd0\u8425\u4e0a\u53ef\u80fd\u975e\u5e38\u9ad8\u6548\uff0c\u800c\u53e6\u4e00\u5bb6\u516c\u53f8\u53ef\u80fd\u9762\u4e34\u5de8\u5927\u56f0\u96be\uff0c\u7b2c\u4e8c\u5bb6\u516c\u53f8\u7684\u51c0\u7ed3\u679c\u53ef\u80fd\u56e0\u51fa\u552e\u8d44\u4ea7\u7b49\u539f\u56e0\u800c\u88ab\u00ab\u5938\u5927\u00bb\uff0c\u800c\u51fa\u552e\u8d44\u4ea7\u5b8c\u5168\u662f\u4f8b\u5916\u6d3b\u52a8\uff0c\u800c\u4e0d\u662f\u516c\u53f8\u7684\u4e3b\u8981\u6d3b\u52a8\u3002.<\/p>\n<p>\u65e2\u7136\u6211\u4eec\u5df2\u7ecf\u7406\u89e3\u4e86\u8fd9\u4e00\u70b9\uff0c\u6211\u5efa\u8bae\u6211\u4eec\u9010\u9879\u5ba1\u67e5\u635f\u76ca\u8868\uff0c\u4ee5\u4fbf\u5728\u63a5\u4e0b\u6765\u7684\u7ba1\u7406\u548c\u8d22\u52a1\u8bfe\u7a0b\u4e2d\u5145\u5206\u638c\u63e1\u8fd9\u4e9b\u6982\u5ff5\u3002\u6211\u4eec\u5148\u4ece\u6536\u5165\u5f00\u59cb\uff0c\u7136\u540e\u518d\u6765\u770b\u652f\u51fa\u3002.<\/p>\n<h2>\u635f\u76ca\u8868\u4e2d\u7684\u4ea7\u54c1<\/h2>\n<p>\u5171\u6709 3 \u79cd\u4ea7\u54c1\uff0c\u5206\u522b\u4e0e\u6211\u4eec\u7a0d\u540e\u5c06\u8981\u8ba8\u8bba\u7684 3 \u79cd\u7535\u8377\u7c7b\u578b\u5bf9\u79f0\u5bf9\u5e94\uff1a<\/p>\n<ul>\n<li>\u8425\u4e1a\u6536\u5165\uff0c\u6307\u516c\u53f8\u5728\u5176\u6b63\u5e38\u548c\u4e3b\u8981\u4e1a\u52a1\u6d3b\u52a8\u8fc7\u7a0b\u4e2d\u6240\u83b7\u5f97\u7684\u5229\u6da6\uff1b ;<\/li>\n<li>\u91d1\u878d\u4ea7\u54c1\u662f\u6307\u516c\u53f8\u901a\u8fc7\u91d1\u878d\u6295\u8d44\u83b7\u5f97\u7684\u6536\u76ca\uff1b ;<\/li>\n<li>\u4ee5\u53ca\u7279\u6b8a\u4ea7\u54c1\uff0c\u5373\u516c\u53f8\u5728\u5176\u7279\u6b8a\u6d3b\u52a8\u4e2d\u83b7\u5f97\u7684\u6536\u76ca\uff0c\u5728\u201c\u7279\u6b8a\u201d\u4e00\u8bcd\u7684\u5076\u7136\u610f\u4e49\u4e0a\uff08\u4f8b\u5982\uff0c\u7279\u6b8a\u4fdd\u9669\u8d54\u507f\u3001\u6536\u5230\u7684\u6350\u8d60\u3001\u7279\u6b8a\u8865\u8d34\u3001\u4e0e\u51fa\u552e\u8d44\u4ea7\u76f8\u5173\u7684\u6536\u76ca\uff09\u3002.<\/li>\n<\/ul>\n<h3>\u8425\u4e1a\u6536\u5165<\/h3>\n<p>\u6b63\u5982\u6211\u4eec\u521a\u624d\u770b\u5230\u7684\uff0c\u8425\u4e1a\u6536\u5165\u662f\u6307\u516c\u53f8\u5728\u5176\u4e3b\u8981\u4e1a\u52a1\u6d3b\u52a8\u8fc7\u7a0b\u4e2d\u6240\u521b\u9020\u7684\u6240\u6709\u8d22\u5bcc\u3002.<\/p>\n<p>\u5728\u6cd5\u56fd\uff0c\u8fd9\u4e9b\u4ea7\u54c1\u88ab\u5f52\u5165\u4e00\u822c\u4f1a\u8ba1\u8ba1\u5212\u7684\u7b2c 70 \u81f3 75 \u7c7b\u8d26\u6237\uff08\u522b\u62c5\u5fc3\uff0c\u6211\u4eec\u7a0d\u540e\u4f1a\u5728\u672c\u8bfe\u7a0b\u4e2d\u518d\u8c08\u5230\u8fd9\u4e00\u70b9\uff09\u3002.<\/p>\n<p>\u8fd9\u91cc\u7b80\u8981\u6982\u8ff0\u4e00\u4e0b\u4e0d\u540c\u7684\u8fd0\u8425\u4ea7\u54c1\uff0c\u7136\u540e\u6211\u4eec\u5c06\u4ecb\u7ecd\u91d1\u878d\u4ea7\u54c1\uff0c\u6700\u540e\u4ecb\u7ecd\u7279\u6b8a\u4ea7\u54c1\u3002.<\/p>\n<p><strong>\u51c0\u6536\u5165<\/strong><\/p>\n<p>\u5b83\u6307\u7684\u5c31\u662f\u8425\u4e1a\u989d\uff0c\u4e5f\u5c31\u662f\u516c\u53f8\u7684\u6536\u5165\u3002\u4f46\u8981\u6ce8\u610f\uff0c\u4e86\u89e3\u8425\u4e1a\u989d\u7684\u5177\u4f53\u6784\u6210\u975e\u5e38\u91cd\u8981\uff0c\u56e0\u4e3a\u5728\u6cd5\u56fd\u5b98\u65b9\u7684\u635f\u76ca\u8868\u4e2d\uff0c\u8425\u4e1a\u989d\u5e76\u6ca1\u6709\u9010\u9879\u5217\u51fa\u3002.<\/p>\n<p>\u4e8b\u5b9e\u4e0a\uff0c\u51c0\u6536\u5165\u5305\u62ec\u4e0e\u516c\u53f8\u4e3b\u8981\u4e1a\u52a1\u76f8\u5173\u7684\u6240\u6709\u8d26\u5355\uff0c\u6839\u636e\u8be5\u4e1a\u52a1\u7684\u6027\u8d28\uff0c\u51c0\u6536\u5165\u6765\u81ea\u4ee5\u4e0b\u51e0\u4e2a\u65b9\u9762\uff1a<\/p>\n<ul>\n<li>\u5546\u54c1\u9500\u552e\uff08PCG \u8d26\u6237 707\uff09\u2192 \u8d38\u6613\u516c\u53f8\uff08\u4e70\u5356\uff09\u7684\u5178\u578b\u7279\u5f81\u3002.<\/li>\n<li>\u6210\u54c1\u9500\u552e\uff08\u8d26\u6237 701\uff09\u2192 \u5236\u9020\/\u52a0\u5de5\u4ea7\u54c1\u7684\u5de5\u4e1a\u6216\u624b\u5de5\u4e1a\u4f01\u4e1a<\/li>\n<li>\u63d0\u4f9b\u7684\u670d\u52a1\uff08\u8d26\u6237 706\uff09\u2192 \u516c\u53f8\u3001\u987e\u95ee\u3001\u670d\u52a1\u3002.<\/li>\n<\/ul>\n<p>\u8fd9\u4e9b\u91d1\u989d\u5728\u6b63\u5f0f\u7684\u635f\u76ca\u8868\u4e2d\u6c47\u603b\u6210\u4e00\u884c\u00ab\u51c0\u9500\u552e\u989d\u00bb\u3002.<\/p>\n<p>\u6309\u7c7b\u578b\uff08707 \u4e0e 701 \u4e0e 706\uff09\u7ec6\u5206\u7684\u60c5\u51b5\u901a\u5e38\u51fa\u73b0\u5728\u9644\u5f55\u6216 SIG\uff08\u4e2d\u95f4\u7ba1\u7406\u4f59\u989d\uff09\u4e2d\uff0c\u7528\u4e8e\u5206\u6790\u5546\u4e1a\u5229\u6da6\u4e0e\u9644\u52a0\u503c\uff0c\u6211\u4eec\u7a0d\u540e\u4f1a\u4e13\u95e8\u5f00\u8bbe\u4e00\u95e8\u8bfe\u7a0b\u6765\u8bb2\u89e3\u9644\u52a0\u503c\u548c SIG\u3002.<\/p>\n<p>\u6b64\u5916\uff0c\u5728\u8fd9\u4e2a\u9636\u6bb5\uff0c\u9700\u8981\u4e86\u89e3\u7684\u662f\uff0c\u5546\u4e1a\u6d3b\u52a8\u4e3b\u8981\u5206\u4e3a 3 \u79cd\u7c7b\u578b\uff0c\u6839\u636e\u6d3b\u52a8\u7c7b\u578b\u7684\u4e0d\u540c\uff0c\u00ab\u5206\u6790\u6027\u00bb\u635f\u76ca\u8868\uff08\u4f1a\u66f4\u52a0\u8be6\u7ec6\uff09\u7684\u5448\u73b0\u65b9\u5f0f\u4e5f\u4f1a\u6709\u6240\u4e0d\u540c\uff1a<\/p>\n<ul>\n<li>\u4ea4\u6613\u6d3b\u52a8\uff08\u4e70\u5165\/\u5356\u51fa\uff09\uff1b ;<\/li>\n<li>\u5de5\u4e1a\u6216\u624b\u5de5\u827a\u6d3b\u52a8\uff08\u5c06\u539f\u6750\u6599\u8f6c\u5316\u4e3a\u6210\u54c1\uff09\uff1b ;<\/li>\n<li>\u63d0\u4f9b\u670d\u52a1\uff08\u4f8b\u5982\u54a8\u8be2\uff09\u3002.<\/li>\n<\/ul>\n<p>\u663e\u7136\uff0c\u4e00\u5bb6\u516c\u53f8\u53ef\u4ee5\u5f00\u5c55\u591a\u9879\u4e1a\u52a1\uff0c\u8fd9\u65e0\u7591\u4f1a\u589e\u52a0\u6211\u4eec\u540e\u7eed\u8d22\u52a1\u5206\u6790\u7684\u96be\u5ea6\uff0c\u4f46\u6211\u4eec\u7a0d\u540e\u518d\u8ba8\u8bba\u8fd9\u4e2a\u95ee\u9898\ud83d\ude42<\/p>\n<p>\u6700\u540e\uff0c\u8fd8\u6709\u4e00\u70b9\u9700\u8981\u8bb0\u4f4f\uff1a\u5f53\u6211\u4eec\u8c08\u8bba\u8d2d\u4e70\u5546\u54c1\u65f6\uff0c\u6307\u7684\u662f\u8d38\u6613\uff08\u4e70\u5356\uff09\uff1b\u800c\u5f53\u6211\u4eec\u8c08\u8bba\u539f\u6750\u6599\u65f6\uff0c\u6307\u7684\u662f\u5de5\u4e1a\u6216\u5de5\u827a\uff08\u6700\u7ec8\u8f6c\u5316\u4e3a\u6210\u54c1\uff09\u3002\u7406\u89e3\u8fd9\u4e9b\u6982\u5ff5\u5bf9\u4e8e\u907f\u514d\u65e5\u540e\u4ea7\u751f\u6df7\u6dc6\u81f3\u5173\u91cd\u8981\u3002.<\/p>\n<p>\u6240\u4ee5\uff0c\u56de\u5230\u8425\u6536\u65b9\u9762\uff0c\u5b83\u5305\u542b\u4e86\u6240\u6709\u8fd9\u4e9b\u6570\u636e\uff1a<\/p>\n<p style=\"text-align: center;\"><strong>\u51c0\u9500\u552e\u6536\u5165 = \u5f53\u671f\u9500\u552e\u989d\u603b\u548c\uff08\u4e0d\u542b\u7a0e\uff0c\u6263\u9664\u6298\u6263\/\u9000\u8d27\uff09<\/strong><br \/>\n<strong>= \u5546\u54c1\u9500\u552e\u989d (707)<\/strong><br \/>\n<strong>+ \u6210\u54c1\u9500\u552e\u989d (701)<br \/>\n+ \u670d\u52a1 (706) <\/strong><br \/>\n<strong>+ \u4e0e\u65e5\u5e38\u7ecf\u8425\u6d3b\u52a8\u76f8\u5173\u7684\u5176\u4ed6\u9500\u552e\uff08\u5982\u4e3b\u8981\u9500\u552e\u6536\u5165\u4e3a 704\u3001705\u3001708 \u9879\u2026\u2026\uff09<\/strong><\/p>\n<p><strong>\u50a8\u5b58\u7684\u751f\u4ea7<\/strong><\/p>\n<p>\u6536\u5165\u4e4b\u540e\uff0c\u6211\u4eec\u6765\u770b\u5b58\u8d27\u3002\u5b58\u8d27\u6307\u7684\u662f\u516c\u53f8\u5728\u672c\u8d22\u5e74\u751f\u4ea7\u4f46\u5c1a\u672a\u552e\u51fa\u7684\u6210\u54c1\uff08\u6216\u5728\u5236\u54c1\uff09\u3002\u5b58\u8d27\u6309\u6210\u672c\u4ef7\u8ba1\u4ef7\uff08\u800c\u975e\u552e\u4ef7\uff09\u3002.<\/p>\n<p>\u4f30\u7b97\u50a8\u5b58\u4ea7\u91cf\u7684\u516c\u5f0f\u5982\u4e0b\uff1a<\/p>\n<p style=\"text-align: center;\"><strong>\u5e93\u5b58\u4ea7\u91cf = \u671f\u672b\u5e93\u5b58 \u2013 \u671f\u521d\u5e93\u5b58<\/strong><\/p>\n<ul>\n<li>\u5982\u679c\u671f\u672b\u5b58\u8d27\u5927\u4e8e\u671f\u521d\u5b58\u8d27 \u2192 \u4e3a\u6b63\u503c \u2192 \u8ba1\u5165\u8425\u4e1a\u6536\u5165\uff08\u516c\u53f8\u521b\u9020\u7684\u8d22\u5bcc\u8d85\u8fc7\u4e86\u5176\u51fa\u552e\u7684\u8d22\u5bcc\uff09\u3002.<\/li>\n<li>\u5982\u679c\u671f\u672b\u5e93\u5b58\u5c11\u4e8e\u671f\u521d\u5e93\u5b58 \u2192 \u8d1f\u503c \u2192 \u51cf\u53bb\u4ea7\u54c1\uff08\u516c\u53f8\u5df2\u552e\u51fa\u90e8\u5206\u5f80\u5e74\u751f\u4ea7\u7684\u5e93\u5b58\uff09\u3002.<\/li>\n<\/ul>\n<p>\u56e0\u6b64\uff0c\u8be5\u9879\u4e0d\u4ec5\u7528\u4e8e\u8bb0\u5f55\u9500\u552e\u989d\uff0c\u8fd8\u7528\u4e8e\u8bb0\u5f55\u672c\u8d22\u5e74\u7684\u5b9e\u9645\u4ea7\u91cf\u3002\u5982\u679c\u635f\u76ca\u8868\u4e2d\u7684\u5b58\u8d27\u4e3a\u6b63\u503c\uff0c\u5219\u8868\u793a\u516c\u53f8\u5728\u672c\u8d22\u5e74\u5e74\u521d\u81f3\u5e74\u672b\u671f\u95f4\u50a8\u5b58\u4e86\u6210\u54c1\u3002\u5982\u679c\u4e3a\u8d1f\u503c\uff0c\u5219\u8868\u793a\u516c\u53f8\u5728\u672c\u8d22\u5e74\u5e74\u521d\u81f3\u5e74\u672b\u671f\u95f4\u51cf\u5c11\u4e86\u6210\u54c1\u5b58\u8d27\u3002.<\/p>\n<p>\u6ce8\u610f\uff1a\u50a8\u5b58\u7684\u751f\u4ea7\u91cf\u4e0d\u5e94\u4e0e\u5e93\u5b58\u53d8\u52a8\uff08\u539f\u6750\u6599\u6216\u5546\u54c1\u7684\u5e93\u5b58\u53d8\u52a8\uff09\u6df7\u6dc6\u3002\u8fd9\u4e9b\u5e93\u5b58\u53d8\u52a8\u4f1a\u4f5c\u4e3a\u8d39\u7528\u51fa\u73b0\uff0c\u6211\u4eec\u7a0d\u540e\u4f1a\u8ba8\u8bba\u3002.<\/p>\n<p><strong>\u56fa\u5b9a\u751f\u4ea7<\/strong><\/p>\n<p>\u63a5\u4e0b\u6765\uff0c\u6211\u4eec\u6765\u770b\u8d44\u672c\u5316\u751f\u4ea7\u3002\u8fd9\u4e9b\u4e5f\u662f\u516c\u53f8\u751f\u4ea7\u7684\u6210\u54c1\uff0c\u4f46\u5b83\u4eec\u662f\u8d44\u672c\u5316\u7684\uff0c\u8fd9\u610f\u5473\u7740\u516c\u53f8\u6700\u7ec8\u4f1a\u5c06\u5b83\u4eec\u7528\u4f5c\u751f\u4ea7\u5de5\u5177\u3002\u4f8b\u5982\uff0c\u6c7d\u8f66\u5236\u9020\u5546\u5411\u5176\u9500\u552e\u4ee3\u8868\u63d0\u4f9b\u4e00\u5b9a\u6570\u91cf\u7684\u6c7d\u8f66\u5e93\u5b58\u3002\u6216\u8005\u9910\u5385\u51c6\u5907\u9910\u98df\u5e76\u5c06\u5176\u4e2d\u7684\u4e00\u90e8\u5206\u63d0\u4f9b\u7ed9\u5458\u5de5\u3002.<\/p>\n<p><strong>\u8fd0\u8425\u8865\u52a9\u91d1<\/strong><\/p>\n<p>\u63a5\u4e0b\u6765\u662f\u8fd0\u8425\u8865\u8d34\u3002\u8fd9\u4e9b\u8d44\u91d1\u662f\u516c\u5171\u673a\u6784\u5411\u4f01\u4e1a\u63d0\u4f9b\u7684\uff0c\u65e8\u5728\u5e2e\u52a9\u4f01\u4e1a\u5f00\u5c55\u8fd0\u8425\u6d3b\u52a8\u3002\u8fd0\u8425\u8865\u8d34\u5e94\u4e0e\u6295\u8d44\u8865\u8d34\u533a\u5206\u5f00\u6765\u3002\u6295\u8d44\u8865\u8d34\u4e5f\u5c5e\u4e8e\u516c\u5171\u63f4\u52a9\uff0c\u4f46\u5b83\u662f\u7528\u4e8e\u957f\u671f\u6295\u8d44\uff0c\u800c\u4e0d\u662f\u7528\u4e8e\u8fd0\u8425\u6d3b\u52a8\uff08\u8fd0\u8425\u6d3b\u52a8\u5c5e\u4e8e\u77ed\u671f\u6216\u4e2d\u671f\u6d3b\u52a8\uff09\u3002.<\/p>\n<p><strong>\u5176\u4ed6\u8425\u4e1a\u6536\u5165<\/strong><\/p>\n<p>\u5176\u6b21\uff0c\u6211\u4eec\u8fd8\u6709\u5176\u5b83\u8425\u4e1a\u6536\u5165\uff0c\u8fd9\u6307\u7684\u662f\u4e0e\u516c\u53f8\u6838\u5fc3\u4e1a\u52a1\u65e0\u5173\u7684\u4ea7\u54c1\u6216\u670d\u52a1\u6240\u83b7\u5f97\u7684\u6536\u5165\u3002\u4f8b\u5982\uff1a\u4e13\u5229\u4f7f\u7528\u8d39\u3001\u51fa\u79df\u975e\u516c\u53f8\u4e3b\u8425\u4e1a\u52a1\u7528\u623f\u7684\u6536\u5165\u3001\u6742\u9879\u8425\u4e1a\u6536\u5165\u7b49\u3002<\/p>\n<p><strong>\u6298\u65e7\u548c\u62e8\u5907\u7684\u51b2\u9500<\/strong><\/p>\n<p>\u51b2\u9500\u662f\u6307\u5f53\u98ce\u9669\u6216\u635f\u8017\u4f4e\u4e8e\u9884\u671f\u65f6\uff0c\u53d6\u6d88\uff08\u5168\u90e8\u6216\u90e8\u5206\uff09\u4ee5\u524d\u5e74\u5ea6\u8ba1\u63d0\u7684\u6298\u65e7\u6216\u51c6\u5907\u91d1\u7684\u4ea7\u54c1\u3002.<\/p>\n<p>\u4f8b\u5982\uff1a<\/p>\n<ul>\n<li>\u64a4\u9500\u5df2\u4e0d\u518d\u5fc5\u8981\u7684\u574f\u8d26\u51c6\u5907\u91d1\uff08\u6211\u4eec\u8c28\u614e\u5730\u8ba1\u63d0\u4e86\u4e00\u7b14\u00ab\u51bb\u7ed3\u00bb\u6b3e\u9879\uff0c\u4ee5\u9632\u5ba2\u6237\u4e0d\u4ed8\u6b3e\u6216\u9884\u671f\u4f1a\u53d1\u751f\u8bc9\u8bbc\uff09\uff1b ;<\/li>\n<li>\u5b58\u8d27\u6298\u65e7\u7684\u9006\u8f6c\u7b49\u3002.<\/li>\n<\/ul>\n<p>\u8fd9\u4e9b\u56de\u6536\u6b3e\u9879\u4e0e\u4e4b\u540e\u5c06\u4f5c\u4e3a\u8d39\u7528\u51fa\u73b0\u7684\u62e8\u6b3e\u5b8c\u5168\u5bf9\u5e94\u3002.<\/p>\n<p>\u5982\u679c\u73b0\u9636\u6bb5\u8fd9\u4e9b\u672f\u8bed\u5bf9\u60a8\u6765\u8bf4\u4ecd\u7136\u6709\u70b9\u6666\u6da9\u96be\u61c2\uff0c\u4e0d\u7528\u62c5\u5fc3\uff1a\u6709\u5173\u6298\u65e7\u548c\u51c6\u5907\u91d1\u7684\u6240\u6709\u5185\u5bb9\u5c06\u5728\u540e\u7eed\u7ae0\u8282\u4e2d\u8be6\u7ec6\u89e3\u91ca\u3002.<\/p>\n<p>\u76ee\u524d\uff0c\u53ea\u9700\u8bb0\u4f4f\uff0c\u5728\u8425\u4e1a\u6536\u5165\u4e2d\uff0c\u8fd9\u4e9b\u51b2\u9500\u4ee3\u8868\u00ab\u6536\u76ca\u00bb\uff1a\u4e4b\u524d\u8c28\u614e\u4ea7\u751f\u7684\u3001\u73b0\u5728\u4e0d\u518d\u5fc5\u8981\u7684\u8d39\u7528\u88ab\u53d6\u6d88\u3002.<\/p>\n<p>\u6211\u4eec\u5df2\u7ecf\u4e86\u89e3\u4e86\u635f\u76ca\u8868\u4e2d\u6240\u6709\u4e0e\u7ecf\u8425\u6d3b\u52a8\u76f8\u5173\u7684\u9879\u76ee\uff0c\u63a5\u4e0b\u6765\u6211\u4eec\u5c06\u56de\u987e\u76f8\u5173\u9879\u76ee\u3002<\/p>\n<h3>\u91d1\u878d\u4ea7\u54c1<\/h3>\n<p>\u4e0e\u8d22\u52a1\u8d39\u7528\u7c7b\u4f3c\uff0c\u8d22\u52a1\u6536\u5165\u662f\u6307\u901a\u8fc7\u6295\u8d44\u7b49\u65b9\u5f0f\u83b7\u5f97\u7684\u6536\u5165\u3002\u56e0\u6b64\uff0c\u8fd9\u4e9b\u662f\u516c\u53f8\u6301\u6709\u7684\u91d1\u878d\u6295\u8d44\uff0c\u5c3d\u7ba1\u8d22\u52a1\u6536\u5165\u4e5f\u5305\u62ec\u83b7\u5f97\u7684\u6298\u6263\u3002<\/p>\n<h3>\u5353\u8d8a\u7684\u4ea7\u54c1<\/h3>\n<p>\u6700\u540e\uff0c\u6211\u4eec\u8fd8\u6709\u4e00\u4e9b\u7279\u6b8a\u4ea7\u54c1\uff0c\u5176\u4e2d\u5305\u62ec\u516c\u53f8\u56e0\u4e0e\u516c\u53f8\u4e3b\u8981\u4e1a\u52a1\u65e0\u5173\u7684\u7279\u6b8a\u95ee\u9898\u800c\u6536\u5230\u7684\u6240\u6709\u6b3e\u9879\uff0c\u4f8b\u5982\u7f5a\u6b3e\u6216\u5904\u7f5a\u3002.<\/p>\n<h2>\u635f\u76ca\u8868\u4e2d\u7684\u8d39\u7528<\/h2>\n<p>\u73b0\u5728\u6211\u4eec\u5df2\u7ecf\u4e86\u89e3\u4e86\u4ea7\u54c1\uff0c\u63a5\u4e0b\u6765\u8ba9\u6211\u4eec\u770b\u770b\u8d39\u7528\u3002\u5728\u635f\u76ca\u8868\u4e2d\uff0c\u4f60\u4f1a\u770b\u5230\u4e09\u79cd\u7c7b\u578b\u7684\u8d39\u7528\u3002.<\/p>\n<h3>\u8425\u4e1a\u8d39\u7528<\/h3>\n<p>\u8fd9\u4e9b\u90fd\u662f\u4e0e\u516c\u53f8\u8fd0\u8425\u76f8\u5173\u7684\u8d39\u7528\uff0c\u56e0\u6b64\u4e5f\u4e0e\u516c\u53f8\u7684\u4e3b\u8981\u6d3b\u52a8\u76f8\u5173\uff0c\u4f8b\u5982\uff1a<\/p>\n<ul>\n<li>\u539f\u6750\u6599\u91c7\u8d2d<\/li>\n<li>\u8d2d\u4e70\u5546\u54c1<\/li>\n<li>\u5e93\u5b58\u53d8\u5316\uff08\u539f\u6750\u6599\u548c\u5546\u54c1\uff09<\/li>\n<li>\u5de5\u8d44<\/li>\n<li>\u6350\u8d60\u57fa\u91d1<\/li>\n<li>\u5176\u4ed6\u7684<\/li>\n<li>\u7a0e\u8d39\uff08\u4e0d\u542b\u4f01\u4e1a\u6240\u5f97\u7a0e\uff09<\/li>\n<li>\u5916\u90e8\u8d39\u7528\uff1a\n<ul>\n<li>\u4fdd\u9669\u8d39<\/li>\n<li>\u79df\u91d1<\/li>\n<li>\u7535\u3001\u6c14\u3001\u6c34\u2026\u2026<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\u8fd0\u8425\u8d39\u7528\u5305\u62ec\u8d26\u6237 60 \u81f3 65 \u7684\u6240\u6709\u8d26\u6237\u4ee5\u53ca\u8d26\u6237 68\u3002<\/p>\n<p>\u8d26\u6237 60 \u81f3 65 \u5305\u62ec\u8d2d\u4e70\u3001\u5e93\u5b58\u53d8\u5316\u3001\u4e0e\u5916\u90e8\u670d\u52a1\u76f8\u5173\u7684\u8d39\u7528\u3001\u7a0e\u91d1\u7b49\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u5c31\u662f\u6211\u4eec\u4e0a\u9762\u770b\u5230\u7684\u6240\u6709\u5185\u5bb9\u3002<\/p>\n<h4>\u5173\u4e8e\u6298\u65e7\u548c\u51c6\u5907\u91d1\uff08\u8d26\u6237 68\uff09<\/h4>\n<p>\u5173\u4e8e\u8d26\u623768\uff0c\u6211\u53ef\u4ee5\u4e13\u95e8\u7528\u4e00\u6574\u7ae0\u7684\u7bc7\u5e45\u6765\u8bb2\u89e3\uff0c\u4f46\u5b83\u4e3b\u8981\u6d89\u53ca\u6298\u65e7\u548c\u51c6\u5907\u91d1\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u6b63\u5982\u6211\u4eec\u5728\u524d\u9762\u5173\u4e8e\u6298\u65e7\u548c\u51c6\u5907\u91d1\u8f6c\u56de\u7684\u7ae0\u8282\u4e2d\u63d0\u5230\u7684\uff0c\u6298\u65e7\u8d39\u7528\u662f\u6307\u5f53\u516c\u53f8\u8d2d\u7f6e\u4f8b\u5982\u5927\u578b\u673a\u5668\uff08\u79f0\u4e3a\u6709\u5f62\u56fa\u5b9a\u8d44\u4ea7\uff09\u7b49\uff0c\u4e14\u8be5\u673a\u5668\u9884\u8ba1\u4f7f\u7528\u6570\u5e74\u65f6\uff0c\u9700\u8981\u8fdb\u884c\u6298\u65e7\uff0c\u5373\u5c06\u5176\u6210\u672c\u5206\u644a\u5230\u6570\u5e74\u5185\u3002.<\/p>\n<p>\u56e0\u6b64\uff0c\u4e3a\u4e86\u53cd\u6620\u771f\u5b9e\u60c5\u51b5\uff0c\u8fd9\u53f0\u673a\u5668\u4e0a\u82b1\u8d39\u7684\u5168\u90e8\u91d1\u989d\u4e0d\u4f1a\u4f5c\u4e3a\u8d39\u7528\u8bb0\u5165\u635f\u76ca\u8868\uff08\u8fd9\u53ef\u80fd\u4f1a\u00ab\u62c9\u4f4e\u00bb\u51c0\u5229\u6da6\uff09\uff0c\u800c\u662f\u5c06\u8be5\u91d1\u989d\u00ab\u5206\u89e3\u00bb\u6210\u82e5\u5e72\u5e74\u5ea6\u91d1\u989d\uff0c\u79f0\u4e3a\u6298\u65e7\u3002.<\/p>\n<p>\u5373\u4f7f\u673a\u5668\u53ef\u4ee5\u4f7f\u7528\u597d\u51e0\u5e74\uff0c\u8fd9\u4e5f\u80fd\u9632\u6b62\u516c\u53f8\u67d0\u4e00\u5e74\u7684\u652f\u51fa\u8fc7\u5ea6\u589e\u52a0\u3002.<\/p>\n<p>\u6362\u53e5\u8bdd\u8bf4\uff0c\u8fd9\u7b14\u8d39\u7528\u88ab\u5e73\u6ed1\u5904\u7406\u4ee5\u53cd\u6620\u5b9e\u9645\u60c5\u51b5\u3002\u6b64\u5916\uff0c\u4ece\u6218\u7565\u89d2\u5ea6\u6765\u770b\uff0c\u7531\u4e8e\u8fd9\u7b14\u8d39\u7528\u5206\u644a\u5230\u6570\u5e74\uff0c\u8fd9\u6709\u52a9\u4e8e\u63d0\u9ad8\u516c\u53f8\u8fc7\u53bb\u4e00\u5e74\u7684\u51c0\u5229\u6da6\u3002<\/p>\n<p>\u76f8\u53cd\uff0c\u5982\u679c\u516c\u53f8\u5e0c\u671b\u51cf\u5c11\u5176\u5229\u6da6\uff08\u4f8b\u5982\u51fa\u4e8e\u7a0e\u6536\u539f\u56e0\uff09\uff0c\u90a3\u4e48\u4e0d\u644a\u9500\u8d2d\u4e70\u53ef\u80fd\u7b26\u5408\u5176\u5229\u76ca\u3002<\/p>\n<p>\u6263\u9664\u8fd0\u8425\u8d39\u7528\u540e\uff0c\u4e0e\u6536\u5165\u76f8\u5bf9\u5e94\uff0c\u6211\u4eec\u8fd8\u6709\u8d22\u52a1\u8d39\u7528\u548c\u7279\u522b\u8d39\u7528\u3002.<\/p>\n<h4>\u5173\u4e8e\u539f\u6750\u6599\u5e93\u5b58\uff08\u62df\u7528\u4e8e\u52a0\u5de5\uff09\u7684\u53d8\u5316<\/h4>\n<p>\u8bf7\u8bb0\u4f4f\uff0c\u5728\u8fd0\u8425\u4ea7\u54c1\u90e8\u5206\uff0c\u6211\u4eec\u80fd\u591f\u4f7f\u7528\u4ee5\u4e0b\u516c\u5f0f\u4f30\u7b97\u5b58\u50a8\u4ea7\u91cf\uff1a<\/p>\n<p style=\"text-align: center;\"><strong>\u5e93\u5b58\u4ea7\u91cf = \u671f\u672b\u5e93\u5b58 \u2013 \u671f\u521d\u5e93\u5b58<\/strong><\/p>\n<p>\u8fd9\u4f7f\u6211\u4eec\u80fd\u591f\u786e\u5b9a\u516c\u53f8\u5229\u7528\u539f\u6750\u6599\u52a0\u5de5\u6210\u6210\u54c1\u6216\u5728\u5236\u54c1\u540e\u8fdb\u884c\u9500\u552e\u7684\u76f8\u5bf9\u4ef7\u503c\u3002\u901a\u8fc7\u8fd9\u4e00\u8ba1\u7b97\uff0c\u6211\u4eec\u53ef\u4ee5\u786e\u5b9a\u516c\u53f8\u5728\u8d22\u5e74\u672b\u7684\u6210\u54c1\u5e93\u5b58\u91cf\u662f\u9ad8\u4e8e\u8fd8\u662f\u4f4e\u4e8e\u8d22\u5e74\u521d\u3002.<\/p>\n<ul>\n<li>\u5982\u679c\u671f\u672b\u5b58\u8d27\u5927\u4e8e\u671f\u521d\u5b58\u8d27\uff08\u6b63\u503c\uff09\uff0c\u5219\u8be5\u5dee\u989d\u8ba1\u5165\u8425\u4e1a\u6536\u5165\u3002\u516c\u53f8\u4ea7\u91cf\u5927\u4e8e\u9500\u91cf\uff1a\u8fd9\u90e8\u5206\u989d\u5916\u4ea7\u91cf\u5373\u4e3a\u672c\u5e74\u5ea6\u521b\u9020\u7684\u8d22\u5bcc\u3002.<\/li>\n<li>\u5982\u679c\u6700\u7ec8\u5e93\u5b58\u5c0f\u4e8e\u2192\u8d1f\u503c\u2192\u6211\u4eec\u4ece\u4ea7\u54c1\u4e2d\u51cf\u53bb\u8be5\u603b\u548c\u3002.<\/li>\n<\/ul>\n<p>\u4f46\u5c31\u539f\u6750\u6599\u7684\u53d8\u5316\u800c\u8a00\uff0c\u903b\u8f91\u5b8c\u5168\u76f8\u540c\uff0c\u53ea\u662f\u6211\u4eec\u9700\u8981\u8fdb\u884c\u5bf9\u79f0\u63a8\u7406\uff0c\u56e0\u4e3a\u8fd9\u9879\u6d89\u53ca\u7684\u662f\u652f\u51fa\uff08\u516c\u53f8\u7684\u4e8f\u635f\uff09\u800c\u4e0d\u662f\u4ea7\u54c1\uff08\u6536\u76ca\uff09\uff0c\u56e0\u4e3a\u8fd9\u662f\u516c\u53f8\u8d2d\u4e70\u539f\u6750\u6599\u7684\u6210\u672c\u3002.<\/p>\n<p>\u56e0\u6b64\uff0c\u5c31\u539f\u6750\u6599\u800c\u8a00\uff0c\u6211\u4eec\u529b\u6c42\u5728\u635f\u76ca\u8868\u4e2d\u53cd\u6620\u672c\u8d22\u653f\u5e74\u5ea6\u6d88\u8017\u7684\u6750\u6599\u7684\u5b9e\u9645\u6210\u672c\uff08\u800c\u4e0d\u4ec5\u4ec5\u662f\u8d2d\u4e70\u7684\u6750\u6599\u7684\u6210\u672c\uff09\u3002.<\/p>\n<p>\u56e0\u6b64\uff0c\u5b58\u8d27\u53d8\u52a8\uff08\u539f\u6750\u6599\u79d1\u76ee 6031\uff09\u7684\u8ba1\u7b97\u516c\u5f0f\u5982\u4e0b\uff1a<\/p>\n<p style=\"text-align: center;\"><strong>\u53d8\u52a8 = \u521d\u59cb\u5e93\u5b58 \u2013 \u6700\u7ec8\u5e93\u5b58<\/strong><\/p>\n<p>\u4f60\u4f1a\u6ce8\u610f\u5230\uff0c\u8fd9\u91cc\u6211\u4eec\u98a0\u5012\u4e86\u8ba1\u7b97\u987a\u5e8f\uff0c\u5c06\u521d\u59cb\u5e93\u5b58\u653e\u5728\u6700\u7ec8\u5e93\u5b58\u4e4b\u524d\uff1a<\/p>\n<ul>\n<li>\u5982\u679c\u671f\u672b\u5e93\u5b58\u5927\u4e8e\u671f\u521d\u5e93\u5b58\uff08\u5373\u5e93\u5b58\u91cf\u589e\u52a0\uff09\u2192 \u51fa\u73b0\u8d1f\u53d8\u5316 \u2192 \u8be5\u503c\u5c06\u4ece\u8425\u4e1a\u8d39\u7528\u4e2d\u6263\u9664\u3002\u2192 \u4e3a\u4ec0\u4e48\uff1f\u56e0\u4e3a\u4eca\u5e74\u989d\u5916\u8d2d\u4e70\u7684\u539f\u6750\u6599\u5c1a\u672a\u4f7f\u7528\u3002. <strong>\u6211\u4eec\u73b0\u5728\u4e0d\u60f3\u628a\u5b83\u4eec\u8ba1\u5165\u652f\u51fa\u3002<\/strong> \uff08\u660e\u5e74\u6211\u4eec\u4f7f\u7528\u5b83\u4eec\u7684\u65f6\u5019\u5c31\u4f1a\u662f\u5b83\u4eec\u4e86\uff09\u3002.<\/li>\n<li>\u5982\u679c\u671f\u672b\u5e93\u5b58\u5c0f\u4e8e\u671f\u521d\u5e93\u5b58\uff08\u5e93\u5b58\u5df2\u51cf\u5c11\uff09\u2192 \u4ea7\u751f\u6b63\u5411\u53d8\u5316 \u2192 \u8be5\u53d8\u5316\u503c\u8ba1\u5165\u8425\u4e1a\u8d39\u7528\u3002\u2192 \u4e3a\u4ec0\u4e48\uff1f\u56e0\u4e3a\u9664\u4e86\u672c\u5e74\u5ea6\u7684\u91c7\u8d2d\u5916\uff0c\u5e74\u521d\u5e93\u5b58\u4e2d\u7684\u539f\u6750\u6599\u4e5f\u5df2\u88ab\u6d88\u8017\u3002. <strong>\u56e0\u6b64\uff0c\u5fc5\u987b\u589e\u52a0\u8d39\u7528\u4ee5\u53cd\u6620\u8be5\u8d22\u653f\u5e74\u5ea6\u7684\u771f\u5b9e\u751f\u4ea7\/\u9500\u552e\u6210\u672c\u3002<\/strong>.<\/li>\n<\/ul>\n<p>\u56e0\u6b64\uff0c\u903b\u8f91\u5728\u7cbe\u795e\u4e0a\u662f\u76f8\u540c\u7684\uff08\u8c03\u6574\u4ee5\u5c0a\u91cd\u7ec3\u4e60\u539f\u5219\uff1a\u76f8\u5173\u5e74\u4efd\u7684\u8d39\u7528\/\u4ea7\u54c1\uff09\uff0c\u4f46\u8ba1\u7b97\u65b9\u5411\u548c\u7b26\u53f7\u76f8\u53cd\uff0c\u56e0\u4e3a\u6211\u4eec\u7ad9\u5728\u8d39\u7528\uff08\u6d88\u8017\u7684\u6750\u6599\uff09\u4e00\u8fb9\uff0c\u800c\u4e0d\u662f\u4ea7\u54c1\uff08\u521b\u9020\u7684\u4ea7\u54c1\uff09\u4e00\u8fb9\u3002.<\/p>\n<p>\u76ee\u6807\u662f\u8ba1\u7b97\u539f\u6750\u6599\u7684\u6d88\u8017\u91cf\uff0c\u4e5f\u5c31\u662f\u7528\u4e8e\u5236\u9020\u6210\u54c1\uff08\u5373\u751f\u4ea7\uff0c\u65e0\u8bba\u5176\u662f\u50a8\u5b58\u3001\u51fa\u552e\u8fd8\u662f\u8d44\u672c\u5316\uff09\u7684\u539f\u6750\u6599\uff1a<\/p>\n<p style=\"text-align: center;\"><strong>\u6d88\u8017\u91cf = \u91c7\u8d2d\u91cf + \u671f\u521d\u5e93\u5b58 - \u671f\u672b\u5e93\u5b58<\/strong><\/p>\n<p>\u8fd9\u4e2a\u516c\u5f0f\u76f8\u5f53\u4e8e\u8bf4\uff1a\u6211\u4e00\u5f00\u59cb\u6709\u5e93\u5b58\uff0c\u6211\u8d2d\u4e70\u4e86\u539f\u6750\u6599\uff0c\u6700\u540e\u8fd8\u5269\u4e0b\u4e00\u4e9b\u3002\u6d88\u5931\u7684\u90a3\u90e8\u5206\u5fc5\u7136\u662f\u5728\u751f\u4ea7\u8fc7\u7a0b\u4e2d\u6d88\u8017\u6389\u4e86\u3002.<\/p>\n<p>\u5728\u4f1a\u8ba1\u5e08\u63d0\u4f9b\u7684\u635f\u76ca\u8868\u4e2d\uff0c\u00ab\u539f\u6750\u6599\u5e93\u5b58\u53d8\u52a8\u00bb\u8fd9\u4e00\u884c\u76f4\u63a5\u663e\u793a\u4e86\u5176\u771f\u5b9e\u7b26\u53f7\uff1a\u5f53\u671f\u672b\u5e93\u5b58\u5927\u4e8e\u671f\u521d\u5e93\u5b58\u65f6\uff0c\u8be5\u884c\u663e\u793a\u4e3a\u8d1f\u6570\uff08\u6216\u7528\u62ec\u53f7\u62ec\u8d77\u6765\uff09\u3002.<\/p>\n<p>\u5728\u00ab\u751f\u4ea7 - \u5546\u54c1\u91c7\u8d2d +\/- \u5546\u54c1\u5e93\u5b58\u53d8\u52a8\u00bb\u7c7b\u578b\u7684\u8ba1\u7b97\u4e2d\uff0c <strong>\u5b58\u8d27\u53d8\u52a8\u7684\u7b26\u53f7\u4e0e\u635f\u76ca\u8868\u4e2d\u663e\u793a\u7684\u7b26\u53f7\u5b8c\u5168\u4e00\u81f4\u3002.<\/strong><\/p>\n<p>\u5f53\u8d22\u653f\u5e74\u5ea6\u672b\u5e93\u5b58\u91cf\u5927\u4e8e\u671f\u521d\u5e93\u5b58\u91cf\u65f6\uff0c\u53d8\u5316\u4e3a\u8d1f\u503c\u3002\u56e0\u6b64\uff0c\u8ba1\u7b97\u65b9\u6cd5\u53d8\u4e3a\uff1a<\/p>\n<p style=\"text-align: center;\"><strong>\u751f\u4ea7\u91cf \u2013 \u91c7\u8d2d\u91cf \u2013 \uff08 \u2013 \u5e93\u5b58\u53d8\u5316\u91cf\uff09 = \u751f\u4ea7\u91cf \u2013 \u91c7\u8d2d\u91cf + \u5e93\u5b58\u589e\u52a0\u91cf\u3002.<\/strong><\/p>\n<p><strong>\u5177\u4f53\u4f8b\u5b50\uff1a<\/strong><\/p>\n<ul>\n<li>\u751f\u4ea7\/\u9500\u552e = 200,000 \u6b27\u5143<\/li>\n<li>\u5546\u54c1\u91c7\u8d2d\u989d = 140,000 \u6b27\u5143<\/li>\n<li>\u635f\u76ca\u8868\u4e2d\u663e\u793a\u7684\u5b58\u8d27\u53d8\u52a8 = -15,000 \u6b27\u5143\uff08\u671f\u672b\u5b58\u8d27\u9ad8\u4e8e\u671f\u521d\u5b58\u8d27\uff09<\/li>\n<li>\u2192 \u8ba1\u7b97\uff1a200,000 \u2013 140,000 \u2013 (\u201315,000) = \u20ac75,000<\/li>\n<\/ul>\n<p>\u56e0\u6b64\uff0c\u635f\u76ca\u8868\u4e2d\u7684\u8d1f\u5411\u53d8\u52a8\u53d8\u4e3a <strong>\u8fb9\u9645\u8d21\u732e\u4e3a\u6b63<\/strong> \u5728\u8fd9\u79cd\u7c7b\u578b\u7684\u8ba1\u7b97\u4e2d\u3002.<\/p>\n<p>\u8fd9\u5b8c\u5168\u7b26\u5408\u4f1a\u8ba1\u903b\u8f91\uff1a\u5e93\u5b58\u589e\u52a0\u7684\u90e8\u5206\u4eca\u5e74\u6ca1\u6709\u88ab\u6d88\u8017\u6389\uff0c\u56e0\u6b64\u4f1a\u81ea\u52a8\u6dfb\u52a0\u5230\u539f\u6750\u6599\u4e2d\uff08\u901a\u8fc7\u8d1f\u53d8\u52a8\uff09\uff0c\u8fd9\u6837\u5728\u00ab\u751f\u4ea7 - \u539f\u6750\u6599\u00bb\u8ba1\u7b97\u4e2d\uff0c\u5c31\u53ea\u80fd\u5c06\u539f\u6750\u6599\u8bb0\u5f55\u4e3a\u8d39\u7528\u3002 <strong>\u5b9e\u9645\u7528\u4e8e\u5236\u4f5c\u8be5\u7ec3\u4e60\u7684\u6d88\u8017\u91cf<\/strong>.<\/p>\n<p>\u6b64\u5916\uff0c\u5982\u679c\u671f\u672b\u5b58\u8d27\u5927\u4e8e\u671f\u521d\u5b58\u8d27\u65f6\uff0c\u635f\u76ca\u8868\u00ab\u8d39\u7528\u00bb\u90e8\u5206\u539f\u6750\u6599\u53d8\u52a8\u7684\u7b26\u53f7\u4e3a\u8d1f\uff0c\u8fd9\u5b9e\u9645\u4e0a\u662f\u56e0\u4e3a <strong>\u8fd9\u6837\u6211\u4eec\u5c31\u53ef\u4ee5\u4ece\u652f\u51fa\u4e2d\u6263\u9664\u4eca\u5e74\u8d2d\u4e70\u4f46\u5c1a\u672a\u6d88\u8017\u7684\u539f\u6750\u6599\u7684\u4ef7\u503c\uff0c\u56e0\u4e3a\u8fd9\u4e9b\u4ef7\u503c\u53ef\u80fd\u4e0e\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\u6709\u5173\u3002<\/strong>.<\/p>\n<p>\u7406\u89e3\u8fd9\u4e9b\u6982\u5ff5\u975e\u5e38\u91cd\u8981\uff0c\u8fd9\u6837\u624d\u4e0d\u4f1a\u5bf9\u635f\u76ca\u8868\u4e2d\u7684\u5404\u79cd\u7b26\u53f7\u548c\u53d8\u5316\u611f\u5230\u56f0\u60d1\u3002.<\/p>\n<h4>\u5173\u4e8e\u5546\u54c1\u5e93\u5b58\u53d8\u52a8\uff08\u91c7\u8d2d\/\u8f6c\u552e\uff09<\/h4>\n<p>\u6b64\u5916\uff0c\u8fd9\u4e00\u903b\u8f91\u540c\u6837\u9002\u7528\u4e8e\u6211\u4eec\u521a\u624d\u770b\u5230\u7684\u539f\u6750\u6599\uff0c\u4ee5\u53ca\u672a\u7ecf\u52a0\u5de5\u76f4\u63a5\u8f6c\u552e\u7684\u5546\u54c1\u3002\u4f46\u8fd9\u4e00\u903b\u8f91\u4e2d\u5b58\u5728\u4e00\u4e2a\u7ec6\u5fae\u7684\u5dee\u522b\u9700\u8981\u8003\u8651\u3002.<\/p>\n<p>\u5bf9\u4e8e\u5546\u54c1\uff08\u672a\u7ecf\u52a0\u5de5\u7684\u8d2d\u4e70\/\u8f6c\u552e\uff09\u2192\u5176\u903b\u8f91\u4e0e\u539f\u6750\u6599\u5b8c\u5168\u76f8\u540c\uff0c\u516c\u5f0f\u5982\u4e0b\uff1a<\/p>\n<p style=\"text-align: center;\"><strong>\u5546\u54c1\u5e93\u5b58\u53d8\u52a8 = \u671f\u521d\u5e93\u5b58 \u2013 \u671f\u672b\u5e93\u5b58\uff08\u8d26\u6237 6037\uff09\u3002.<\/strong><\/p>\n<p>\u5b83\u4e5f\u51fa\u73b0\u5728\u8fd0\u8425\u8d39\u7528\u4e2d\uff0c\u7d27\u968f\u00ab\u5546\u54c1\u91c7\u8d2d\u00bb\u4e4b\u540e\u3002.<\/p>\n<p>\u7136\u800c\uff0c\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0c\u8ba1\u7b97\u5e93\u5b58\u53d8\u52a8\u662f\u4e3a\u4e86\u786e\u5b9a\u5b9e\u9645\u9500\u552e\u6210\u672c\uff0c\u8fd9\u610f\u5473\u7740\u5b83\u5c06\u672c\u8d22\u5e74\u7684\u91c7\u8d2d\u4e0e\u9500\u552e\u8054\u7cfb\u8d77\u6765\u3002\u8fd9\u91cc\u4e0d\u6d89\u53ca\u4efb\u4f55\u8f6c\u6362\uff1b\u76ee\u6807\u662f\u786e\u5b9a\u5b9e\u9645\u552e\u51fa\u5546\u54c1\u7684\u6210\u672c\u3002.<\/p>\n<p>\u671f\u672b\u5e93\u5b58\u5546\u54c1\u5c1a\u672a\u00ab\u4f7f\u7528\u00bb\uff1a\u5176\u6210\u672c\u4ecd\u4fdd\u7559\u5728\u8d44\u4ea7\u8d1f\u503a\u8868\u4e2d\uff0c\u800c\u4e0d\u662f\u635f\u76ca\u8868\u4e2d\uff0c\u8fd9\u5c31\u5f15\u51fa\u4e86\u4e0b\u4e00\u4e2a\u95ee\u9898\u3002.<\/p>\n<h4>\u5df2\u8d2d\u4f46\u5c1a\u672a\u552e\u51fa\u7684\u8d27\u7269\u7684\u60c5\u51b5<\/h4>\n<p>\u4e0e\u516c\u53f8\u751f\u4ea7\u7684\u6210\u54c1\uff08\u5373\u4f5c\u4e3a\u8fd0\u8425\u4ea7\u54c1\u7684\u00ab\u5e93\u5b58\u751f\u4ea7\u00bb\uff09\u4e0d\u540c\uff0c, <strong>\u7528\u4e8e\u4e70\u5356\/\u8f6c\u552e\u7684\u5546\u54c1\u53ea\u6709\u5728\u552e\u51fa\u540e\u624d\u4f1a\u4ea7\u751f\u6536\u5165\u3002<\/strong>. \u5b83\u4eec\u53ea\u662f\u4f5c\u4e3a\u8d44\u4ea7\u8bb0\u5f55\u5728\u8d44\u4ea7\u8d1f\u503a\u8868\u4e0a\uff08\u8d26\u6237 37 \u2013 \u5546\u54c1\u5e93\u5b58\uff09\u3002.<\/p>\n<p>\u5b83\u4eec\u5bf9\u635f\u76ca\u8868\u7684\u552f\u4e00\u5f71\u54cd\u662f\u901a\u8fc7\u5546\u54c1\u5e93\u5b58\u7684\u53d8\u5316\uff08\u8d26\u6237 6037\uff09\uff0c\u8fd9\u51fa\u73b0\u5728\u8425\u4e1a\u8d39\u7528\u4e2d\uff0c\u5e76\u5141\u8bb8\u8c03\u6574\u00ab\u5546\u54c1\u91c7\u8d2d\u00bb\uff0c\u4f7f\u5176\u4ec5\u5305\u62ec\u5728\u8d22\u653f\u5e74\u5ea6\u5185\u5b9e\u9645\u552e\u51fa\u7684\u5546\u54c1\u7684\u6210\u672c\u3002.<\/p>\n<p>\u56e0\u6b64\uff0c\u5c31\u50cf\u539f\u6750\u6599\u4e00\u6837\uff0c\u5f53\u5546\u54c1\u53d8\u52a8\u4e3a\u8d1f\u503c\u65f6\uff08\u5373\u671f\u672b\u5e93\u5b58\u5927\u4e8e\u671f\u521d\u5e93\u5b58\uff09\uff0c\u8be5\u53d8\u52a8\u5728\u635f\u76ca\u8868\u7684\u8d39\u7528\u90e8\u5206\u663e\u793a\u4e3a\u8d1f\u503c\u3002.<\/p>\n<p>\u8fd9\u4e2a\u8d1f\u53f7\u4f7f\u6211\u4eec\u80fd\u591f <strong>\u4ece\u8d39\u7528\u4e2d\u6263\u9664\u672c\u8d22\u653f\u5e74\u5ea6\u5185\u8d2d\u4e70\u4f46\u672a\u552e\u51fa\u7684\u5546\u54c1\u4ef7\u503c\u3002<\/strong>, \u56e0\u4e3a\u5b83\u4eec\u53ef\u80fd\u4e0e\u4e0b\u4e00\u4e2a\u8d22\u653f\u5e74\u5ea6\u6709\u5173\u3002\u6211\u4eec\u4e0d\u60f3\u5c06\u5b83\u4eec\u8bb0\u4e3a\u8d39\u7528\u3002 <strong>\u5373\u672c\u8d22\u653f\u5e74\u5ea6\u5b9e\u9645\u552e\u51fa\u5546\u54c1\u7684\u6210\u672c<\/strong>.<\/p>\n<h4>\u6210\u54c1\/\u8d27\u7269\u6c47\u603b<\/h4>\n<p>\u8bb0\u4f4f\u8fd9\u6761\u7b80\u5355\u7684\u89c4\u5219\uff1a<\/p>\n<ul>\n<li>\u516c\u53f8\u751f\u4ea7\u4f46\u672a\u552e\u51fa\u7684\u4ea7\u54c1 \u2192 \u6dfb\u52a0\u5230\u4ea7\u54c1\u4e2d\uff08\u5e93\u5b58\u751f\u4ea7\uff09\u3002.<\/li>\n<li>\u5df2\u8d2d\u4e70\u4f46\u5c1a\u672a\u6d88\u8017\/\u552e\u51fa\u7684\uff08\u6750\u6599\u6216\u5546\u54c1\uff09\u2192 \u901a\u8fc7\u8d1f\u5e93\u5b58\u53d8\u52a8\u4ece\u8d39\u7528\u4e2d\u79fb\u9664\u3002.<\/li>\n<\/ul>\n<p>\u4ee5\u4e0b\u662f\u6c47\u603b\u8868\uff1a<\/p>\n<table>\n<thead>\n<tr>\n<th data-col-size=\"xl\">\u60c5\u51b5<\/th>\n<th data-col-size=\"md\">\u5e93\u5b58\u7c7b\u578b<\/th>\n<th data-col-size=\"lg\">\u635f\u76ca\u8868\u4e2d\u7684\u4e00\u884c<\/th>\n<th data-col-size=\"lg\">\u516c\u5f0f<\/th>\n<th data-col-size=\"xs\">\u5f53\u80a1\u7968 <strong>\u589e\u52a0<\/strong><\/th>\n<th data-col-size=\"xs\">\u5f53\u80a1\u7968 <strong>\u51cf\u5c11<\/strong><\/th>\n<th data-col-size=\"lg\">\u9884\u671f\u6548\u679c<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td data-col-size=\"xl\">\u5df2\u751f\u4ea7\u7684\u6210\u54c1\u6216\u5728\u5236\u54c1<\/td>\n<td data-col-size=\"md\">\u5236\u6210\u54c1<\/td>\n<td data-col-size=\"lg\"><strong>\u50a8\u5b58\u7684\u751f\u4ea7<\/strong> \uff08\u4ea7\u54c1\uff09<\/td>\n<td data-col-size=\"lg\">\u6700\u7ec8\u5e93\u5b58 \u2013 \u521d\u59cb\u5e93\u5b58<\/td>\n<td data-col-size=\"xs\">+\u4ea7\u54c1<\/td>\n<td data-col-size=\"xs\">- \u4ea7\u54c1<\/td>\n<td data-col-size=\"lg\">\u8ba4\u8bc6\u8d22\u5bcc <strong>\u521b\u5efa<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"xl\">\u539f\u6750\u6599\u6d88\u8017<\/td>\n<td data-col-size=\"md\">\u539f\u6599<\/td>\n<td data-col-size=\"lg\"><strong>\u5e93\u5b58\u53d8\u5316<\/strong> \uff08\u8d39\u7528\uff09<\/td>\n<td data-col-size=\"lg\">\u521d\u59cb\u5e93\u5b58 \u2013 \u6700\u7ec8\u5e93\u5b58<\/td>\n<td data-col-size=\"xs\">\u8d39\u7528<\/td>\n<td data-col-size=\"xs\">+ \u8d39\u7528<\/td>\n<td data-col-size=\"lg\">\u53cd\u6620\u6210\u672c <strong>\u6d88\u8017<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"xl\">\u4e3a\u8f6c\u552e\u800c\u8d2d\u4e70\u7684\u5546\u54c1<\/td>\n<td data-col-size=\"md\">\u5546\u54c1<\/td>\n<td data-col-size=\"lg\"><strong>\u5e93\u5b58\u53d8\u5316<\/strong> \uff08\u8d39\u7528\uff09<\/td>\n<td data-col-size=\"lg\">\u521d\u59cb\u5e93\u5b58 \u2013 \u6700\u7ec8\u5e93\u5b58<\/td>\n<td data-col-size=\"xs\">\u8d39\u7528<\/td>\n<td data-col-size=\"xs\">+ \u8d39\u7528<\/td>\n<td data-col-size=\"lg\">\u53cd\u6620\u5546\u54c1\u6210\u672c <strong>\u5356<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u8fd9\u4e9b\u6982\u5ff5\u6709\u4e9b\u8fdd\u53cd\u76f4\u89c9\uff0c\u6240\u4ee5\u5f7b\u5e95\u7406\u89e3\u5b83\u4eec\u81f3\u5173\u91cd\u8981\u3002\u8fd9\u5176\u5b9e\u5c31\u662f\u57f9\u517b\u4e00\u79cd\u601d\u7ef4\u8bad\u7ec3\u80fd\u529b\u7684\u95ee\u9898\u3002.<\/p>\n<h4>\u4e24\u79cd\u7b49\u6548\u7684\u5e93\u5b58\u751f\u4ea7\u6838\u7b97\u65b9\u6cd5<\/h4>\n<p>\u91cd\u8981\u63d0\u793a\uff1a\u6709\u4e9b\u8457\u4f5c\u5bf9\u5e93\u5b58\u751f\u4ea7\u7684\u89e3\u91ca\u6709\u6240\u4e0d\u540c\u3002\u5b83\u4eec\u8ba4\u4e3a\u00ab\u9500\u552e\u6210\u672c\u4ece\u8d39\u7528\u4e2d\u6263\u9664\u00bb\u3002.<\/p>\n<p>\u5b9e\u9645\u4e0a\uff0c\u8fd9\u76f8\u5f53\u4e8e\u5c06\u50a8\u5b58\u7684\u4ea7\u91cf\u6dfb\u52a0\u5230\u4ea7\u54c1\u4e2d\u3002.<\/p>\n<p>\u4f8b\u5982\uff1a\u5982\u679c\u60a8\u751f\u4ea7\u4e86\u4ef7\u503c 50,000 \u6b27\u5143\u7684\u672a\u552e\u51fa\u4ea7\u54c1\uff0c\u60a8\u53ef\u4ee5\u9009\u62e9\uff1a<\/p>\n<ul>\n<li>\u589e\u52a0\u4ef7\u503c 50,000 \u6b27\u5143\u7684\u5e93\u5b58\u4ea7\u54c1\uff08\u6309\u6210\u672c\u4ef7\u8ba1\u4ef7\u7684\u5e93\u5b58\u4ea7\u54c1\uff0c\u8fd9\u662f\u4e00\u9879\u652f\u51fa\uff09\uff1b ;<\/li>\n<li>\u8981\u4e48\u4ece\u751f\u4ea7\u6210\u672c\u4e2d\u6263\u9664 50,000 \u6b27\u5143\u7684\u6210\u672c\u4ef7\u3002.<\/li>\n<\/ul>\n<p>\u6700\u7ec8\u7ed3\u679c\u76f8\u540c\u3002\u6cd5\u56fd\u901a\u7528\u4f1a\u8ba1\u51c6\u5219\u9009\u62e9\u7b2c\u4e00\u79cd\u65b9\u6848\uff0c\u4ee5\u4fbf\u66f4\u597d\u5730\u5c55\u73b0\u8be5\u8d22\u653f\u5e74\u5ea6\u5b9e\u9645\u521b\u9020\u7684\u8d22\u5bcc\u3002.<\/p>\n<h3>\u8d22\u52a1\u8d39\u7528<\/h3>\n<p>\u987e\u540d\u601d\u4e49\uff0c\u8d22\u52a1\u8d39\u7528\u662f\u6307\u4e0e\u8d22\u52a1\u76f8\u5173\u7684\u6210\u672c\uff0c\u4f8b\u5982\u8d37\u6b3e\u5229\u606f\u3002\u8fd9\u4e9b\u8d39\u7528\u4ece\u8d22\u52a1\u6536\u5165\u4e2d\u6263\u9664\uff0c\u6700\u7ec8\u5f97\u51fa\u8d22\u52a1\u7ed3\u679c\u3002\u7136\u800c\uff0c\u8d22\u52a1\u8d39\u7528\u5728\u4e2d\u5c0f\u4f01\u4e1a\u7684\u635f\u76ca\u8868\u4e2d\u901a\u5e38\u53ea\u5360\u5f88\u5c0f\u4e00\u90e8\u5206\u3002.<\/p>\n<h3>\u7279\u6b8a\u6536\u8d39<\/h3>\n<p>\u6700\u540e\uff0c\u6211\u4eec\u8fd8\u6709\u4e0e\u4e0d\u53ef\u9884\u89c1\u60c5\u51b5\u76f8\u5173\u7684\u7279\u6b8a\u652f\u51fa\uff0c\u4f8b\u5982\u7f5a\u6b3e\u3002\u8fd9\u4e9b\u652f\u51fa\u4e0e\u516c\u53f8\u7684\u6838\u5fc3\u4e1a\u52a1\u65e0\u5173\u3002\u4e0e\u7279\u6b8a\u6536\u5165\u4e00\u6837\uff0c\u5bc6\u5207\u5173\u6ce8\u8fd9\u4e9b\u652f\u51fa\u81f3\u5173\u91cd\u8981\uff0c\u56e0\u4e3a\u8fd9\u4e9b\u7279\u6b8a\u652f\u51fa\u6216\u6536\u5165\u5e76\u4e0d\u80fd\u53cd\u6620\u516c\u53f8\u7684\u957f\u671f\u4e1a\u7ee9\uff0c\u5bfc\u81f4\u67d0\u4e00\u5e74\u7684\u635f\u76ca\u8868\u4e0e\u5f80\u5e74\u76f8\u6bd4\u51fa\u73b0\u00ab\u5f02\u5e38\u00bb\u60c5\u51b5\u3002.<\/p>\n<h2>\u635f\u76ca\u8868\u7684\u5404\u79cd\u7ed3\u679c<\/h2>\n<p>\u73b0\u5728\u6211\u4eec\u5df2\u7ecf\u5f88\u597d\u5730\u4e86\u89e3\u4e86\u6bcf\u79cd\u8d1f\u8f7d\u548c\u4ea7\u54c1\u6807\u9898\uff0c\u672c\u7ae0\u5f00\u5934\u63d0\u5230\u7684 4 \u79cd\u7ed3\u679c\u7c7b\u578b\u5177\u6709\u5176\u5168\u90e8\u542b\u4e49\uff1a<\/p>\n<ul>\n<li><strong>\u7ecf\u8425\u4e1a\u7ee9\uff08\u6211\u4eec\u5e0c\u671b\u662f\u6b63\u6570\uff09\u8861\u91cf\u4e0e\u516c\u53f8\u7ecf\u8425\u76f8\u5173\u7684\u5229\u6da6\u7387\uff1b\u5b83\u662f\u6700\u91cd\u8981\u7684\u6307\u6807\u3002<\/strong><\/li>\n<li>\u8d22\u52a1\u7ed3\u679c\u548c\u5f02\u5e38\u7ed3\u679c\u4f30\u8ba1\u8d22\u52a1\u548c\u5f02\u5e38\u5229\u6da6\uff08\u53ef\u4ee5\u4e3a\u8d1f\u6570\uff0c\u4f46\u8fd9\u4e0d\u662f\u95ee\u9898\uff09\u3002<\/li>\n<li>\u6700\u540e\uff0c\u51c0\u7ed3\u679c\u7b49\u4e8e\u7ecf\u8425\u7ed3\u679c + \u8d22\u52a1\u7ed3\u679c\uff08\u5982\u679c\u4e3a\u8d1f\uff0c\u5219\u4e3a - \u8d22\u52a1\u7ed3\u679c\uff09+ \u5f02\u5e38\u7ed3\u679c\uff08\u5982\u679c\u4e3a\u8d1f\uff0c\u5219\u4e3a - \u5f02\u5e38\u7ed3\u679c\uff09\u3002<\/li>\n<\/ul>\n<p><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, 'Noto Sans', sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji';\">\u56e0\u6b64\uff0c\u635f\u76ca\u8868\u53ef\u4ee5\u5e2e\u52a9\u6211\u4eec\u8bc6\u522b\u51fa 4 \u79cd\u7c7b\u578b\u7684\u7ed3\u679c\uff1a<\/span><\/p>\n<ul>\n<li><strong>\u8fd0\u884c\u7ed3\u679c\uff1a<\/strong><\/li>\n<\/ul>\n<p>\u8fd9\u662f\u8425\u4e1a\u6536\u5165\u4e0e\u8425\u4e1a\u652f\u51fa\u4e4b\u95f4\u7684\u5dee\u989d\uff0c\u4ee3\u8868\u516c\u53f8\u4ece\u5176\u6838\u5fc3\u4e1a\u52a1\uff08\u5373\u8fd0\u8425\uff09\u4e2d\u83b7\u5f97\u7684\u201c\u6536\u76ca\u201d\u3002<\/p>\n<p>\u4f8b\u5982\uff1a\u5bf9\u4e8e\u4e00\u5bb6\u9910\u9986\u6765\u8bf4\uff0c\u5b83\u53ea\u662f\u9500\u552e\u989d\u51cf\u53bb\u5546\u54c1\u8d2d\u4e70\u989d\u4ee5\u53ca\u4e0e\u8fd0\u8425\u76f8\u5173\u7684\u6240\u6709\u8d39\u7528\uff08\u4f8b\u5982\u79df\u91d1\u3001\u5de5\u8d44\u7b49\uff09\u3002<\/p>\n<ul>\n<li><strong>\u8d22\u52a1\u7ed3\u679c\uff1a<\/strong><\/li>\n<\/ul>\n<p>\u8fd9\u6307\u7684\u662f\u91d1\u878d\u4ea7\u54c1\uff08\u4f8b\u5982\u6295\u8d44\uff09\u51cf\u53bb\u91d1\u878d\u652f\u51fa\uff08\u4f8b\u5982\u94f6\u884c\u8d37\u6b3e\u5229\u606f\uff09\u3002.<\/p>\n<p>\u5bf9\u4e8e\u8bb8\u591a\u516c\u53f8\u6765\u8bf4\uff0c\u8fd9\u4e2a\u7ed3\u679c\u5f80\u5f80\u662f\u8d1f\u9762\u7684\uff0c\u4f46\u6570\u989d\u5f80\u5f80\u5f88\u5c0f\uff0c\u6240\u4ee5\u6ca1\u6709\u5fc5\u8981\u62c5\u5fc3\uff0c\u56e0\u4e3a\u8fd9\u4e9b\u4e0d\u662f\u4e0e\u516c\u53f8\u6838\u5fc3\u4e1a\u52a1\u76f8\u5173\u7684\u9879\u76ee\u3002<\/p>\n<ul>\n<li><strong>\u5353\u8d8a\u7684\u6210\u679c\uff1a<\/strong><\/li>\n<\/ul>\n<p>\u8fd9\u91cc\uff0c\u6211\u4eec\u8ba8\u8bba\u7684\u662f\u7279\u6b8a\u4ea7\u54c1\uff08\u4f8b\u5982\uff1a\u6350\u8d60\u3001\u51fa\u552e\u8bbe\u5907\u6216\u4efb\u4f55\u5176\u4ed6\u7279\u6b8a\u6536\u76ca\uff09\u51cf\u53bb\u7279\u6b8a\u652f\u51fa\uff08\u4f8b\u5982\uff1a\u7f5a\u6b3e\u3001\u52b3\u52a8\u6cd5\u5ead\u5224\u51b3\u540e\u7684\u548c\u89e3\u91d1\u7b49\uff09\u3002.<\/p>\n<p>\u540c\u6837\uff0c\u9664\u4e86\u4e00\u4e9b\u4f8b\u5916\uff0c\u901a\u5e38\u51fa\u73b0\u7684\u8d1f\u9762\u7ed3\u679c\u5e76\u4e0d\u4ee4\u4eba\u62c5\u5fe7\uff0c\u56e0\u4e3a\u4e0e\u516c\u53f8\u6d3b\u52a8\u76f8\u5173\u7684\u53d8\u52a8\u76f8\u6bd4\uff0c\u5b83\u5e94\u8be5\u4fdd\u6301\u5fae\u4e0d\u8db3\u9053\u3002<\/p>\n<ul>\n<li><strong>\u6700\u7ec8\u7ed3\u679c<\/strong><\/li>\n<\/ul>\n<p>\u5728\u6700\u7ec8\u7ed3\u679c\u4e2d\uff0c\u6211\u4eec\u6dfb\u52a0\uff1a<\/p>\n<p>\u7ecf\u8425\u6210\u679c+\u8d22\u52a1\u6210\u679c+\u7279\u6b8a\u6210\u679c-\u5458\u5de5\u5206\u7ea2-\u516c\u53f8\u7a0e\u3002<\/p>\n<p>\u5728\u6cd5\u56fd\uff0c\u53c2\u4e0e\u662f <b>\u5458\u5de5\u50a8\u84c4\u8ba1\u5212\uff0c\u786e\u4fdd\u5c06\u516c\u53f8\u90e8\u5206\u5229\u6da6\u91cd\u65b0\u5206\u914d\u7ed9\u5458\u5de5<\/b>\u3002\u56e0\u6b64\uff0c\u5b83\u4ee5\u4e0e\u516c\u53f8\u7a0e\u76f8\u540c\u7684\u65b9\u5f0f\u4ece\u51c0\u7ed3\u679c\u4e2d\u53bb\u9664\uff0c\u4ee5\u83b7\u5f97\u51c0\u7ed3\u679c\uff0c\u4ece\u800c\u83b7\u5f97\u516c\u53f8\u7684\u6700\u7ec8\u5229\u6da6\u3002<\/p>\n<p>\u6b63\u662f\u8fd9\u7b14\u51c0\u6536\u5165\u80fd\u544a\u8bc9\u6211\u4eec\u516c\u53f8\u662f\u5426\u76c8\u5229\u3002\u8fd9\u7b14\u51c0\u6536\u5165\u4f1a\u88ab\u6dfb\u52a0\u5230\u516c\u53f8\u8d44\u4ea7\u8d1f\u503a\u8868\u7684\u201c\u6743\u76ca\u201d\u90e8\u5206\uff0c\u4e5f\u5c31\u662f\u201c\u8d1f\u503a\u201d\u90e8\u5206\u3002\u4e0d\u8fc7\u522b\u62c5\u5fc3\uff0c\u6211\u4f1a\u5728\u4e0b\u4e00\u7ae0\u8be6\u7ec6\u89e3\u91ca\u3002<\/p>\n<h2>\u6839\u636e\u6cd5\u56fdPCG\u6e05\u5355\u5448\u73b0\u7684\u635f\u76ca\u8868\u7406\u8bba\u8868\uff08\u4e2d\u5c0f\u4f01\u4e1a\u5e38\u7528\uff09<\/h2>\n<p>\u8fd9\u662f\u57fa\u4e8e\u6cd5\u56fd\u901a\u7528\u4f1a\u8ba1\u8ba1\u5212\u7684\u635f\u76ca\u8868\u7684\u8be6\u7ec6\u89c6\u56fe\uff0c\u4ee5\u4fbf\u4e86\u89e3\u6bcf\u4e2a\u8d39\u7528\u8d26\u6237\u548c\u6bcf\u4e2a\u6536\u5165\u8d26\u6237\u3002<\/p>\n<p>\u8fd9\u6b63\u662f\u6cd5\u56fd\u516c\u53f8\u4ece\u4f1a\u8ba1\u5e08\u90a3\u91cc\u6536\u5230\u7684\u635f\u76ca\u8868\u683c\u5f0f\u3002\u5b83\u5305\u542b\u8425\u4e1a\u5229\u6da6\uff0c\u4f46\u4e0d\u4e00\u5b9a\u5305\u542b\u606f\u7a0e\u6298\u65e7\u644a\u9500\u524d\u5229\u6da6\uff08EBITDA\uff09\u6216\u9644\u52a0\u503c\u7b49\u4fe1\u606f\u3002.<\/p>\n<p><strong>\u635f\u76ca\u8868\uff08\u8d22\u653f\u5e74\u5ea6\u4ece __\/__\/____ \u81f3 __\/__\/____\uff09<\/strong><\/p>\n<p dir=\"auto\"><strong>I \u2013 \u7ecf\u8425\u4ea7\u54c1\uff1a\u516c\u53f8\u4e3b\u8981\u6d3b\u52a8\u4ea7\u751f\u7684\u6536\u5165<\/strong><\/p>\n<ul dir=\"auto\">\n<li>\u51c0\u9500\u552e\u6536\u5165\uff1a\u6263\u9664\u6298\u6263\u6216\u9000\u8d27\u7b49\u8d39\u7528\u540e\u7684\u603b\u9500\u552e\u989d\uff08\u5305\u62ec\u751f\u4ea7\u6210\u672c\u548c\u9500\u552e\u670d\u52a1\u7684\u6210\u672c\uff09<\/li>\n<li>\u5e93\u5b58\u4ea7\u91cf\uff1a\u5df2\u751f\u4ea7\u4f46\u4ecd\u5728\u5e93\u5b58\u4e2d\u3001\u5c1a\u672a\u552e\u51fa\u7684\u4ea7\u54c1\u4ef7\u503c<\/li>\n<li>\u56fa\u5b9a\u8d44\u4ea7\uff1a\u516c\u53f8\u4e3a\u5185\u90e8\u4f7f\u7528\u800c\u751f\u4ea7\u7684\u4ea7\u54c1\u7684\u4ef7\u503c\uff0c\u4f8b\u5982\u673a\u5668<\/li>\n<li>\u8fd0\u8425\u8865\u8d34\uff1a\u56fd\u5bb6\u4e3a\u5f53\u524d\u6d3b\u52a8\u63d0\u4f9b\u7684\u8d22\u653f\u63f4\u52a9\uff08\u800c\u975e\u957f\u671f\u6295\u8d44\uff09<\/li>\n<li>\u5176\u4ed6\u6536\u5165\uff1a\u4e0e\u6d3b\u52a8\u76f8\u5173\u7684\u6742\u9879\u6536\u5165\uff0c\u4f8b\u5982\u6536\u5230\u7684\u79df\u91d1<\/li>\n<li>\u6298\u65e7\u548c\u51c6\u5907\u91d1\u7684\u51b2\u56de\uff1a\u6536\u56de\u5148\u524d\u4e3a\u635f\u8017\u6216\u98ce\u9669\u9884\u7559\u7684\u91d1\u989d<\/li>\n<\/ul>\n<p dir=\"auto\"><strong>II \u2013 \u8425\u4e1a\u8d39\u7528\uff1a\u4e0e\u516c\u53f8\u4e3b\u8981\u6d3b\u52a8\u76f8\u5173\u7684\u8d39\u7528<\/strong><\/p>\n<ul dir=\"auto\">\n<li>\u8d2d\u4e70\u5546\u54c1\uff1a\u8d2d\u4e70\u7528\u4e8e\u8f6c\u552e\u7684\u4ea7\u54c1\u6210\u672c\uff08\u8d2d\u4e70\/\u8f6c\u552e\uff09<\/li>\n<li>\u5b58\u8d27\u53d8\u52a8\uff1a\u8fd9\u662f\u5e74\u521d\u5b58\u8d27\u4e0e\u5e74\u672b\u5b58\u8d27\u4e4b\u95f4\u7684\u5dee\u989d\u3002\u5982\u679c\u5e74\u672b\u5b58\u8d27\u591a\u4e8e\u5e74\u521d\uff0c\u5219\u5b58\u8d27\u53d8\u52a8\u4e3a\u8d1f\u503c\uff0c\u56e0\u4e3a\u5b58\u8d27\u589e\u52a0\u4e86\u3002\u56e0\u6b64\uff0c\u6211\u4eec\u5fc5\u987b\u4ece\u8d39\u7528\u4e2d\u6263\u9664\u8fd9\u90e8\u5206\u5b58\u8d27\uff08\u56e0\u6b64\u4e3a\u8d1f\u503c\uff09\uff0c\u56e0\u4e3a\u6211\u4eec\u5c1a\u672a\u552e\u51fa\u8fd9\u4e9b\u5546\u54c1\u3002\u8fd9\u770b\u4f3c\u8fdd\u53cd\u76f4\u89c9\uff0c\u4f46\u8fd9\u662f\u56e0\u4e3a\u6211\u4eec\u4e0d\u5e94\u8be5\u91cd\u590d\u8ba1\u7b97\u4e0e\u91c7\u8d2d\u5546\u54c1\u548c\u672a\u552e\u51fa\u5b58\u8d27\u76f8\u5173\u7684\u8d39\u7528\u3002\u6211\u4eec\u5728\u672c\u8bfe\u7a0b\u524d\u9762\u5df2\u7ecf\u89e3\u91ca\u8fc7\u8fd9\u4e00\u70b9\uff0c\u5e76\u5c06\u5728\u4ee5\u540e\u7684\u8bfe\u7a0b\u4e2d\u63d0\u4f9b\u66f4\u8be6\u7ec6\u7684\u89e3\u91ca\u3002.<\/li>\n<li>\u539f\u6750\u6599\u548c\u5176\u4ed6\u7269\u8d44\u7684\u91c7\u8d2d\uff1a\u5236\u9020\u4ea7\u54c1\u6240\u7528\u6750\u6599\u7684\u6210\u672c<\/li>\n<li>\u539f\u6750\u6599\u5e93\u5b58\u53d8\u5316\uff1a\u4e0e\u5546\u54c1\u5e93\u5b58\u53d8\u5316\u7684\u903b\u8f91\u76f8\u540c\u3002\u53d8\u5316 = \u671f\u521d\u5e93\u5b58 - \u671f\u672b\u5e93\u5b58\u3002\u5982\u679c\u7531\u4e8e\u671f\u672b\u5e93\u5b58\u4f4e\u4e8e\u671f\u521d\u5e93\u5b58\u800c\u4e3a\u6b63\u503c\uff0c\u5219\u610f\u5473\u7740\u539f\u6750\u6599\u7684\u9500\u552e\u91cf\u5927\u4e8e\u91c7\u8d2d\u91cf\uff0c\u56e0\u6b64\u8425\u4e1a\u8d39\u7528\u4f1a\u589e\u52a0\uff0c\u4ee5\u53cd\u6620\uff08\u6765\u81ea\u65e7\u5e93\u5b58\u7684\uff09\u989d\u5916\u6750\u6599\u6d88\u8017\u6210\u672c\uff0c\u4ece\u800c\u4f7f\u635f\u76ca\u8868\u53cd\u6620\u7684\u662f\u5f53\u5e74\u771f\u5b9e\u7684\u751f\u4ea7\u6210\u672c\u3002<\/li>\n<li>\u5176\u4ed6\u91c7\u8d2d\u548c\u5916\u90e8\u8d39\u7528\uff1a\u79df\u91d1\u3001\u5e7f\u544a\u6216\u5916\u90e8\u670d\u52a1\u7b49\u8d39\u7528<\/li>\n<li>\u7a0e\u6b3e\u3001\u5173\u7a0e\u548c\u7c7b\u4f3c\u6b3e\u9879\uff1a\u5f3a\u5236\u6027\u5411\u56fd\u5bb6\u7f34\u7eb3\u7684\u6b3e\u9879\uff0c\u4e0d\u5305\u62ec\u6240\u5f97\u7a0e<\/li>\n<li>\u5de5\u8d44\u53ca\u85aa\u91d1\uff1a\u652f\u4ed8\u7ed9\u96c7\u5458\u7684\u62a5\u916c<\/li>\n<li>\u793e\u4f1a\u4fdd\u969c\u7f34\u6b3e\uff1a\u4e3a\u5458\u5de5\u7f34\u7eb3\u7684\u793e\u4f1a\u4fdd\u969c\u7f34\u6b3e\uff0c\u4f8b\u5982\u793e\u4f1a\u4fdd\u969c<\/li>\n<li>\u6298\u65e7\u548c\u51c6\u5907\u91d1\uff1a\u4e3a\u8d44\u4ea7\u78e8\u635f\u6216\u672a\u6765\u98ce\u9669\u9884\u7559\u7684\u91d1\u989d<\/li>\n<li>\u5176\u4ed6\u8d39\u7528\uff1a\u4e0e\u6d3b\u52a8\u76f8\u5173\u7684\u6742\u8d39\uff0c\u672a\u5206\u7c7b<\/li>\n<\/ul>\n<p dir=\"auto\">\u2192 <strong>\u7ecf\u8425\u4e1a\u7ee9<\/strong> \uff08I \u2013 II\uff09\uff1a\u6263\u9664\u8d22\u52a1\u548c\u4f8b\u5916\u60c5\u51b5\u4e4b\u524d\uff0c\u4e3b\u8425\u4e1a\u52a1\u7684\u5229\u6da6\u6216\u4e8f\u635f<\/p>\n<p dir=\"auto\">III \u2013 \u91d1\u878d\u4ea7\u54c1\uff1a\u4e0e\u91d1\u878d\u76f8\u5173\u7684\u6536\u5165\uff0c\u4f8b\u5982\u6295\u8d44<\/p>\n<ul dir=\"auto\">\n<li>\u80a1\u6743\u6536\u76ca\uff1a\u6301\u6709\u5176\u4ed6\u516c\u53f8\u80a1\u6743\u6240\u5f97\u7684\u6536\u5165<\/li>\n<li>\u5176\u4ed6\u5229\u606f\u548c\u7c7b\u4f3c\u6536\u5165\uff1a\u8d37\u6b3e\u6216\u6295\u8d44\u6536\u5230\u7684\u5229\u606f<\/li>\n<li>\u62e8\u5907\u7684\u51b2\u56de\u548c\u8d39\u7528\u7684\u8f6c\u79fb\uff1a\u6536\u56de\u4e3a\u5e94\u5bf9\u91d1\u878d\u98ce\u9669\u800c\u62e8\u51fa\u7684\u91d1\u989d<\/li>\n<\/ul>\n<p dir=\"auto\">IV \u2013 \u8d22\u52a1\u8d39\u7528\uff1a\u4e0e\u8d22\u52a1\u76f8\u5173\u7684\u8d39\u7528\uff0c\u4f8b\u5982\u8d37\u6b3e<\/p>\n<ul dir=\"auto\">\n<li>\u5229\u606f\u548c\u7c7b\u4f3c\u8d39\u7528\uff1a\u503a\u52a1\u6216\u8d37\u6b3e\u652f\u4ed8\u7684\u5229\u606f<\/li>\n<li>\u62e8\u5907\uff1a\u4e3a\u5e94\u5bf9\u672a\u6765\u8d22\u52a1\u98ce\u9669\u800c\u9884\u7559\u7684\u91d1\u989d<\/li>\n<\/ul>\n<p dir=\"auto\">\u2192 <strong>\u8d22\u52a1\u4e1a\u7ee9<\/strong> \uff08III \u2013 IV\uff09\uff1a\u91d1\u878d\u4ea4\u6613\u7684\u6536\u76ca\u6216\u635f\u5931<\/p>\n<p dir=\"auto\">\u2192 <strong>\u5f53\u524d\u7a0e\u524d\u4e1a\u7ee9<\/strong> \uff08\u7ecf\u8425\u6210\u679c + \u8d22\u52a1\u6210\u679c\uff09\uff1a\u7a0e\u524d\u548c\u4f8b\u5916\u60c5\u51b5\u524d\u6b63\u5e38\u6d3b\u52a8\u7684\u603b\u6536\u76ca\u6216\u635f\u5931<\/p>\n<p dir=\"auto\">V \u2013 \u7279\u6b8a\u4ea7\u54c1\uff1a\u4e0e\u5f53\u524d\u6d3b\u52a8\u65e0\u5173\u7684\u7279\u6b8a\u6536\u5165<\/p>\n<ul dir=\"auto\">\n<li>\u7ba1\u7406\u8fd0\u8425\u6536\u5165\uff1a\u5f53\u524d\u5f02\u5e38\u9500\u552e\u4ea7\u751f\u7684\u989d\u5916\u6536\u76ca<\/li>\n<li>\u8d44\u672c\u6536\u76ca\uff1a\u51fa\u552e\u4e3b\u8981\u8d44\u4ea7\uff08\u4f8b\u5982\u5efa\u7b51\u7269\uff09\u7684\u6536\u76ca<\/li>\n<li>\u62e8\u5907\u7684\u64a4\u9500\u548c\u8d39\u7528\u7684\u8f6c\u79fb\uff1a\u6536\u56de\u4e3a\u7279\u6b8a\u98ce\u9669\u9884\u7559\u7684\u91d1\u989d<\/li>\n<\/ul>\n<p dir=\"auto\">VI \u2013 \u7279\u6b8a\u8d39\u7528\uff1a\u4e0e\u5f53\u524d\u6d3b\u52a8\u65e0\u5173\u7684\u5f02\u5e38\u8d39\u7528<\/p>\n<ul dir=\"auto\">\n<li>\u7ba1\u7406\u4e1a\u52a1\u8d39\u7528\uff1a\u5f53\u524d\u4e1a\u52a1\u5f02\u5e38\u635f\u5931<\/li>\n<li>\u8d44\u672c\u4ea4\u6613\u8d39\u7528\uff1a\u51fa\u552e\u6216\u9500\u6bc1\u91cd\u5927\u8d44\u4ea7\u9020\u6210\u7684\u635f\u5931<\/li>\n<li>\u62e8\u5907\uff1a\u4e3a\u5e94\u5bf9\u672a\u6765\u7279\u6b8a\u98ce\u9669\u800c\u9884\u7559\u7684\u91d1\u989d<\/li>\n<\/ul>\n<p dir=\"auto\">\u2192 <strong>\u5353\u8d8a\u7684\u6210\u679c<\/strong> \uff08V \u2013 VI\uff09\uff1a\u5f02\u5e38\u4e8b\u4ef6\u5e26\u6765\u7684\u6536\u76ca\u6216\u635f\u5931<\/p>\n<p dir=\"auto\">VII \u2013 \u5458\u5de5\u5229\u6da6\u5206\u4eab\uff1a\u652f\u4ed8\u7ed9\u5458\u5de5\u7684\u5229\u6da6\u4efd\u989d\uff08\u5982\u9002\u7528\uff09<\/p>\n<p dir=\"auto\">VIII \u2013 \u5229\u6da6\u7a0e\uff1a\u516c\u53f8\u5229\u6da6\u7f34\u7eb3\u7684\u7a0e\u6b3e<\/p>\n<p dir=\"auto\">\u2192 <strong>\u5e74\u5ea6\u51c0\u5229\u6da6<\/strong> \uff08\u5229\u6da6\u6216\u4e8f\u635f\uff09\uff1a\u6bd5\u7adf\uff0c\u4eca\u5e74\u7684\u6700\u7ec8\u6536\u76ca\u6216\u635f\u5931<\/p>\n<p dir=\"auto\">\u5982\u679c\u4f60\u60f3\u7ec3\u4e60\u8bb0\u5fc6\u8868\u683c\uff08\u6211\u63a8\u8350\u8fd9\u6837\u505a\uff09\uff0c\u6211\u5efa\u8bae\u4f60\u76f4\u63a5\u8bb0\u5fc6\u8fd9\u4e2a\u8868\u683c\uff0c\u5b83\u66f4\u6613\u8bfb\u3001\u66f4\u7b80\u6d01\uff1a<\/p>\n<table>\n<thead>\n<tr>\n<th data-col-size=\"md\">\u7c7b\u522b<\/th>\n<th data-col-size=\"md\">\u4ea7\u54c1<\/th>\n<th data-col-size=\"lg\">\u8d39\u7528<\/th>\n<th data-col-size=\"lg\">\u652f\u4ed8<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td data-col-size=\"md\"><strong>\u5f00\u53d1<\/strong><\/td>\n<td data-col-size=\"md\">\u51c0\u9500\u552e\u989d + \u5e93\u5b58\/\u56fa\u5b9a\u751f\u4ea7 + \u8865\u8d34 + \u5176\u4ed6 + \u51b2\u9500<\/td>\n<td data-col-size=\"lg\">\u91c7\u8d2d + \u5e93\u5b58\u53d8\u52a8 + \u539f\u6750\u6599\u548c\u5546\u54c1 + \u5916\u90e8\u8d39\u7528 + \u7a0e\u91d1 + \u5de5\u8d44 + \u793e\u4fdd\u7f34\u6b3e + \u5206\u914d + \u5176\u4ed6<\/td>\n<td data-col-size=\"lg\">\u8425\u4e1a\u5229\u6da6<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u91d1\u878d\u7684<\/strong><\/td>\n<td data-col-size=\"md\">\u6536\u5230\u7684\u5229\u606f + \u5176\u4ed6<\/td>\n<td data-col-size=\"lg\">\u5df2\u4ed8\u5229\u606f + \u5206\u914d\u989d<\/td>\n<td data-col-size=\"lg\">\u8d22\u52a1\u4e1a\u7ee9<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u5f53\u524d\u7a0e\u524d\u4e1a\u7ee9<\/strong><\/td>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\"><\/td>\n<td data-col-size=\"lg\">\uff08\u8fd0\u8425+\u8d22\u52a1\uff09<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u5353\u8d8a\u7684<\/strong><\/td>\n<td data-col-size=\"md\">\u5f02\u5e38\u6536\u76ca + \u6062\u590d\u4ea4\u6613<\/td>\n<td data-col-size=\"lg\">\u5f02\u5e38\u635f\u5931 + \u5956\u91d1<\/td>\n<td data-col-size=\"lg\">\u5353\u8d8a\u7684\u6210\u679c<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u5176\u4ed6\u7684<\/strong><\/td>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\">\u5458\u5de5\u5229\u6da6\u5206\u4eab + \u5229\u6da6\u7a0e<\/td>\n<td data-col-size=\"lg\"><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u6700\u7ec8\u7ed3\u679c<\/strong><\/td>\n<td data-col-size=\"md\"><\/td>\n<td data-col-size=\"lg\"><\/td>\n<td data-col-size=\"lg\">\uff08\u6574\u4e2a\u9876\u90e8\uff09<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 dir=\"auto\">\u635f\u76ca\u8868\u5206\u6790\u5de5\u5177\uff1a\u4e2d\u671f\u7ba1\u7406\u4f59\u989d\uff08IMB\uff09<\/h2>\n<p>\u5c3d\u7ba1\u5b98\u65b9\u635f\u76ca\u8868\u662f\u00ab\u6309\u6027\u8d28\u00bb\uff08PCG\uff09\u5448\u73b0\u7684\uff0c\u4f46\u6b63\u5982\u6211\u4eec\u4e4b\u524d\u6240\u8bf4\uff0c\u7ecf\u7406\u548c\u5206\u6790\u5e08\u7ecf\u5e38\u4f7f\u7528 GIS \u4ee5\u5206\u5c42\u5f62\u5f0f\u5bf9\u5176\u8fdb\u884c\u5206\u6790\u3002.<\/p>\n<p>\u8fd9\u4e9b\u4e2d\u95f4\u6307\u6807\uff08\u5e76\u975e\u5f3a\u5236\u6027\u7684\uff0c\u4f46\u975e\u5e38\u5e38\u89c1\uff09\u53ef\u4ee5\u9010\u6b65\u8ddf\u8e2a\u76c8\u5229\u80fd\u529b\u3002.<\/p>\n<p>\u4ee5\u4e0b\u662f\u6700\u7ecf\u5178\u7684\u5206\u7c7b\uff08\u4ece\u00ab\u5546\u4e1a\/\u5de5\u4e1a\u00bb\u89d2\u5ea6\u6765\u770b\uff09\uff1a<\/p>\n<p style=\"text-align: center;\">\u5468\u8f6c<br \/>\n\u2013 \u76f4\u63a5\u6210\u672c\uff08\u91c7\u8d2d\u3001\u6750\u6599\u3001\u5206\u5305\uff09<br \/>\n\u6bdb\u5229\u6da6<br \/>\n\u2013 \u8fd0\u8425\u8d39\u7528\uff08\u5de5\u8d44\u3001\u79df\u91d1\u7b49\uff09<\/p>\n<p style=\"text-align: center;\">+ \u8fd0\u8425\u8865\u8d34<br \/>\n\u2013 \u7a0e\u8d39\uff08\u4e0d\u542b\u4f01\u4e1a\u6240\u5f97\u7a0e\uff09<br \/>\n= \u603b\u8425\u4e1a\u76c8\u4f59 (EBE) \u2190 \u7ea6\u7b49\u4e8e\u82f1\u7f8e\u6cd5\u7cfb EBITDA<\/p>\n<p style=\"text-align: center;\">\u2013 \u6298\u65e7\u548c\u8fd0\u8425\u51c6\u5907\u91d1<\/p>\n<p style=\"text-align: center;\">+ \u6761\u6b3e\u7684\u9006\u8f6c<br \/>\n+ \u5176\u4ed6\u4ea7\u54c1 \u2013 \u5176\u4ed6\u8fd0\u8425\u8d39\u7528<br \/>\n= \u8425\u4e1a\u5229\u6da6\uff08EBIT\uff09<\/p>\n<p style=\"text-align: center;\">+ \u91d1\u878d\u4ea7\u54c1 \u2013 \u91d1\u878d\u652f\u51fa<br \/>\n= \u7a0e\u524d\u5229\u6da6<\/p>\n<p style=\"text-align: center;\">\u00b1 \u4f18\u5f02\u7ed3\u679c<br \/>\n\u2013 \u5229\u6da6\u7a0e<br \/>\n= \u51c0\u7ed3\u679c<\/p>\n<p>\u6211\u4eec\u5c06\u8be6\u7ec6\u4ecb\u7ecd\u6bcf\u9879GIS\u7684\u5177\u4f53\u8ba1\u7b97\u65b9\u6cd5\uff0c\u5e76\u63d0\u4f9b\u793a\u4f8b\u548c\u516c\u5f0f\u3002, <a href=\"https:\/\/tulipemedia.com\/zh\/cours-sig\/\">\u5728\u540e\u9762\u7684\u7ae0\u8282\u4e2d\u5c06\u4e13\u95e8\u8ba8\u8bba\u8fd9\u4e9b\u5730\u7406\u4fe1\u606f\u7cfb\u7edf\u3002<\/a>. \u5728\u8fd9\u4e2a\u9636\u6bb5\uff0c\u5982\u679c\u770b\u8d77\u6765\u5f88\u590d\u6742\uff0c\u4f60\u4e0d\u5fc5\u4e00\u6b21\u6027\u8bb0\u4f4f\u6240\u6709\u5185\u5bb9\uff0c\u53ea\u9700\u7406\u89e3\u4e0a\u9762\u7684\u8868\u683c\u5b9e\u9645\u4e0a\u4e0e\u635f\u76ca\u8868\u76f8\u540c\uff0c\u53ea\u662f\u5b83\u4ee5\u4e00\u79cd\u4fbf\u4e8e\u8d22\u52a1\u5206\u6790\u7684\u65b9\u5f0f\u8be6\u7ec6\u5217\u51fa\u4e86\u5404\u9879\u5185\u5bb9\u3002.<\/p>\n<p>\u7684\u786e\uff0c\u6b63\u5982\u60a8\u4ece\u635f\u76ca\u8868\u4e2d\u770b\u5230\u7684\u90a3\u6837\uff0c\u6211\u4eec\u603b\u662f\u4ece\u6536\u5165\u5f00\u59cb\uff0c\u7136\u540e\u4ece\u4e2d\u6263\u9664\u8fd0\u8425\u8d39\u7528\u3002\u4e0d\u540c\u4e4b\u5904\u5728\u4e8e\uff0c\u6211\u4eec\u5c06\u8fd0\u8425\u7ed3\u679c\u5206\u89e3\u4e3a\u4e24\u4e2a\u5b50\u4f59\u989d\uff0c\u5982\u4e0b\u6240\u793a\uff1a<\/p>\n<ul>\n<li>\u6bdb\u5229\u7387\uff1a\u8ba1\u7b97\u9500\u552e\u989d\u4e0e\u9500\u552e\u76f4\u63a5\u76f8\u5173\u7684\u8fd0\u8425\u8d39\u7528\u4e4b\u95f4\u7684\u5dee\u989d\uff0c\u56e0\u6b64\u6700\u7ec8\u662f\u6307\u8d2d\u4e70\u5df2\u552e\u5546\u54c1\uff08\u5bf9\u4e8e\u6210\u54c1\uff09\u7684\u6210\u672c\u4e0e\u5df2\u52a0\u5de5\u5e76\u7528\u4e8e\u5df2\u552e\u4ea7\u54c1\u7684\u539f\u6750\u6599\u6210\u672c\u4e4b\u95f4\u7684\u5dee\u989d\u3002.<\/li>\n<li>EBITDA\uff1a\u8fd9\u662f\u4e00\u4e2a\u975e\u5e38\u91cd\u8981\u7684\u7ba1\u7406\u5e73\u8861\u6307\u6807\uff0c\u5b83\u662f\u901a\u5e38\u7684 REX \u8ba1\u7b97\u7684\u5ef6\u7eed\uff0c\u4f46\u5176\u4e2d\u4e0d\u8003\u8651\u6298\u65e7\u548c\u4efb\u4f55\u51c6\u5907\u91d1\uff0c\u4e5f\u4e0d\u8003\u8651\u5176\u4ed6\u8425\u4e1a\u6536\u5165\u548c\u652f\u51fa\uff0c\u56e0\u4e3a\u4eba\u4eec\u8ba4\u4e3a\u8fd9\u4e0e\u516c\u53f8\u7684\u6b63\u5e38\u6d3b\u52a8\u65e0\u5173\u3002.<\/li>\n<\/ul>\n<p>\u7136\u800c\uff0c\u903b\u8f91\u6700\u7ec8\u8fd8\u662f\u4e00\u6837\uff1a\u6211\u4eec\u5148\u4ece\u6536\u5165\u5f00\u59cb\uff0c\u7136\u540e\u6263\u9664\u8fd0\u8425\u8d39\u7528\uff0c\u518d\u6263\u9664\u8d22\u52a1\u8d39\u7528\uff0c\u6700\u540e\u6263\u9664\u7279\u6b8a\u8d39\u7528\u3002.<\/p>\n<h2>\u635f\u76ca\u8868 \u2013 IFRS \u5217\u62a5\uff08\u901a\u7528\u793a\u4f8b\uff09<\/h2>\n<p>\u56fd\u9645\u51c6\u5219\uff08IFRS\u3001IAS 1\uff09\u503e\u5411\u4e8e\u6309\u529f\u80fd\u800c\u975e\u6027\u8d28\u5217\u62a5\u3002\u5176\u76ee\u7684\u662f\u63d0\u4f9b\u66f4\u7b80\u6d01\u3001\u66f4\u5177\u53ef\u6bd4\u6027\u7684\u4e0d\u540c\u56fd\u5bb6\u516c\u53f8\u4e4b\u95f4\u7684\u6982\u89c8\u3002.<\/p>\n<p>\u4ee5\u4e0b\u662f\u635f\u76ca\u53ca\u5176\u4ed6\u7efc\u5408\u6536\u76ca\u8868\u7684\u4e00\u822c\u793a\u4f8b\uff1a<\/p>\n<p style=\"text-align: center;\">\u622a\u81f3\/\/____\u5e74\u672b\u7684\u635f\u76ca\u8868<\/p>\n<p style=\"text-align: center;\"><strong>\u8425\u4e1a\u6536\u5165\uff08\u8425\u6536\uff09=<\/strong><br \/>\n\u8425\u4e1a\u989d\uff08\u6765\u81ea\u5ba2\u6237\u5408\u540c\u7684\u6536\u5165\uff09<br \/>\n+ \u5176\u4ed6\u8425\u4e1a\u6536\u5165<\/p>\n<p style=\"text-align: center;\"><strong>\u8fd0\u8425\u8d39\u7528 =<\/strong><\/p>\n<p style=\"text-align: center;\">\u9500\u552e\u6210\u672c<br \/>\n+ \u9500\u552e\u8d39\u7528<br \/>\n+ \u7ba1\u7406\u8d39\u7528<br \/>\n+ \u7814\u53d1\u8d39\u7528\uff08\u5982\u6709\u6570\u989d\u8f83\u5927\uff09<br \/>\n+ \u5176\u4ed6\u8fd0\u8425\u8d39\u7528<\/p>\n<p style=\"text-align: center;\">\u2192 \u6536\u5165 \u2013 \u8fd0\u8425\u8d39\u7528 = \u8425\u4e1a\u5229\u6da6\uff08EBIT\uff09<\/p>\n<p style=\"text-align: center;\"><strong>\u8d22\u52a1\u8981\u7d20\uff1a<\/strong><\/p>\n<p style=\"text-align: center;\">\u91d1\u878d\u4ea7\u54c1<br \/>\n\u2013 \u8d22\u52a1\u8d39\u7528\uff08\u5305\u62ec\u5229\u606f\uff09<\/p>\n<p style=\"text-align: center;\">\u2192 EBIT \u2013 \u8d22\u52a1\u7ed3\u679c = \u7a0e\u524d\u5229\u6da6<\/p>\n<p style=\"text-align: center;\">\u6240\u5f97\u7a0e\uff08\u6240\u5f97\u7a0e\u8d39\u7528\uff09<\/p>\n<p style=\"text-align: center;\">\u2192 \u672c\u671f\u51c0\u5229\u6da6\uff08\u672c\u671f\u5229\u6da6\uff09<\/p>\n<p style=\"text-align: center;\">\u5176\u4ed6\u7efc\u5408\u6536\u76ca\uff1a\u6c47\u5151\u5dee\u989d\u3001\u91d1\u878d\u5de5\u5177\u635f\u76ca\u7b49\u3002.<\/p>\n<p style=\"text-align: center;\">\u2192 \u7efc\u5408\u6536\u76ca\u603b\u989d<\/p>\n<p>\u91cd\u8981\u63d0\u793a\uff1a\u81ea2027\u5e74\u8d77\uff08IFRS 18\u5206\u9636\u6bb5\u5b9e\u65bd\uff09\uff0c\u8d22\u52a1\u62a5\u8868\u7ed3\u6784\u5c06\u66f4\u52a0\u6807\u51c6\u5316\uff0c\u5e76\u5f3a\u5236\u5212\u5206\u4e3a\u7ecf\u8425\u6d3b\u52a8\u3001\u6295\u8d44\u6d3b\u52a8\u548c\u7b79\u8d44\u6d3b\u52a8\u4e09\u5927\u7c7b\u522b\u3002\u76ee\u524d\uff0c\u8d22\u52a1\u62a5\u8868\u5217\u62a5\u65b9\u5f0f\u4ecd\u8f83\u4e3a\u7075\u6d3b\uff0c\u4f46\u00ab\u6309\u529f\u80fd\u5217\u62a5\u00bb\u7684\u539f\u5219\u4ecd\u7136\u9002\u7528\u3002.<\/p>\n<p>\u518d\u8bf4\u4e00\u904d\uff0c\u5982\u679c\u4f60\u611f\u5230\u8ff7\u832b\uff0c\u4e0d\u8981\u60ca\u614c\uff1a\u4ed4\u7ec6\u89c2\u5bdf\uff0c\u4f60\u4f1a\u53d1\u73b0\u903b\u8f91\u4ecd\u7136\u5927\u4f53\u76f8\u540c\uff0c\u4f46\u8fd9\u91cc\u7684\u95ee\u9898\u4e0d\u662f\u6309\u6027\u8d28\u800c\u662f\u6309\u529f\u80fd\u6765\u5206\u89e3\u7acb\u573a\uff08\u6362\u53e5\u8bdd\u8bf4\uff1a\u00ab\u8fd9\u4e2a\u6536\u8d39\u7684\u76ee\u7684\u662f\u4ec0\u4e48\uff1f\u00bb\uff09\u3002.<\/p>\n<p>\u5728\u6309\u804c\u80fd\u5212\u5206\u7684\u635f\u76ca\u8868\u4e2d\uff0c\u6211\u4eec\u4ece\u6536\u5165\u5f00\u59cb\uff0c\u7136\u540e\u4e0d\u662f\u9010\u9879\u6263\u9664\u6240\u6709\u8fd0\u8425\u8d39\u7528\uff0c\u800c\u662f\u6309\u804c\u80fd\u6263\u9664\uff0c\u8fd9\u76f8\u5f53\u4e8e\u4ece\u9500\u552e\u989d\u4e2d\u51cf\u53bb\u4ee5\u4e0b\u9879\u76ee\uff1a<\/p>\n<ul>\n<li>\u9500\u552e\u6210\u672c\uff1a\u6b63\u5982\u524d\u9762\u8ba8\u8bba\u7684GIS\u8868\u683c\u4e2d\u6240\u8ff0\uff0c\u8fd9\u5305\u62ec\u5b9e\u9645\u552e\u51fa\u5546\u54c1\u7684\u91c7\u8d2d\u6210\u672c\uff08\u91c7\u8d2d\/\u8f6c\u552e\uff09\uff0c\u4ee5\u53ca\u7531\u539f\u6750\u6599\u52a0\u5de5\u800c\u6210\u7684\u6210\u54c1\u7684\u9500\u552e\u6210\u672c\u3002\u56e0\u6b64\uff0c\u8be5\u9879\u76ee\u6d89\u53ca\u5df2\u552e\u5546\u54c1\u7684\u6210\u672c\uff08\u4ec5\u4e0e\u539f\u6750\u6599\u76f8\u5173\u7684\u6210\u672c\uff0c\u4e0d\u5305\u542b\u4eba\u5de5\u6210\u672c\uff1b\u4eba\u5de5\u6210\u672c\u5373\u4e3a\u6210\u672c\u4ef7\uff09\u3002.<\/li>\n<li>\u63a5\u4e0b\u6765\uff0c\u6211\u4eec\u5c06\u6263\u9664\u4e0e\u9500\u552e\u804c\u80fd\u76f8\u5173\u7684\u8d39\u7528\uff08\u4f8b\u5982\uff0c\u9500\u552e\u4eba\u5458\u7684\u85aa\u8d44\u3001\u4e0e\u5176\u6d3b\u52a8\u76f8\u5173\u7684\u8d39\u7528\u7b49\uff09\u3002\u6ce8\u610f\uff1a\u8fd9\u4e9b\u4ecd\u7136\u662f\u8fd0\u8425\u8d39\u7528\uff1b\u6211\u4eec\u53ea\u662f\u6309\u804c\u80fd\u8fdb\u884c\u5206\u7c7b\u3002\u56e0\u6b64\uff0c\u6211\u4eec\u4e0d\u4f1a\u5c06\u6240\u6709\u85aa\u8d44\u90fd\u8ba1\u5165\uff0c\u800c\u662f\u6309\u804c\u80fd\u8fdb\u884c\u7ec6\u5206\uff0c\u5728\u672c\u4f8b\u4e2d\uff0c\u5373\u6263\u9664\u4e0e\u9500\u552e\u4eba\u5458\u76f8\u5173\u7684\u90e8\u5206\u85aa\u8d44\u3002.<\/li>\n<li>\u63a5\u4e0b\u6765\uff0c\u6211\u4eec\u5c06\u6263\u9664\u884c\u653f\u6210\u672c\uff1a\u4f8b\u5982\u5de5\u8d44\uff0c\u4f46\u6307\u7684\u662f\u529e\u516c\u5ba4\u5de5\u4f5c\u4eba\u5458\u7684\u5de5\u8d44\uff0c\u4ee5\u53ca\u901a\u5e38\u5c5e\u4e8e\u652f\u6301\u6027\u6210\u672c\u7684\u5de5\u8d44\u3002.<\/li>\n<li>\u63a5\u4e0b\u6765\uff0c\u6211\u4eec\u5254\u9664\u7814\u53d1\u6210\u672c\uff0c\u7136\u540e\u5254\u9664\u4e0d\u5c5e\u4e8e\u4e0a\u8ff0\u5404\u9879\u804c\u80fd\u7684\u5176\u4ed6\u8fd0\u8425\u8d39\u7528\u3002.<\/li>\n<\/ul>\n<p>\u8fd9\u5c31\u5f97\u5230\u4e86 REX\uff0c\u82f1\u6587\u79f0\u4e3a EBIT\uff0c\u5373\u606f\u7a0e\u524d\u5229\u6da6\uff0c\u4ece\u4e2d\u51cf\u53bb\u8d22\u52a1\u7ed3\u679c\uff0c\u6700\u7ec8\u5f97\u5230\u51c0\u5229\u6da6\u3002.<\/p>\n<p>\u4f46\u8981\u6ce8\u610f\uff0c\u6309\u529f\u80fd\u5212\u5206\u7684\u635f\u76ca\u8868\u4e0e\u6298\u65e7\u8d39\u7528\u6709\u5173\uff0c\u5176\u4e2d\u5b58\u5728\u4e00\u4e9b\u5fae\u5999\u4e4b\u5904\uff1a\u4e0e\u6309\u6027\u8d28\u5212\u5206\u7684\u635f\u76ca\u8868\u4e0d\u540c\uff0c\u6309\u529f\u80fd\u5212\u5206\u7684\u635f\u76ca\u8868\u4e2d\u7684\u6298\u65e7\u8d39\u7528\u4e5f\u662f\u6839\u636e\u5176\u6240\u5173\u8054\u7684\u529f\u80fd\u8fdb\u884c\u7ec6\u5206\u7684\u3002.<\/p>\n<p>\u4f8b\u5982\uff0c\u5982\u679c\u751f\u4ea7\u673a\u5668\u88ab\u6298\u65e7\uff0c\u5219\u4e0e\u8be5\u673a\u5668\u76f8\u5173\u7684\u6298\u65e7\u8d39\u7528\u5305\u542b\u5728\u751f\u4ea7\u6210\u672c\u4e2d\uff0c\u56e0\u6b64\u8be5\u8d39\u7528\u5305\u542b\u5728\u9500\u552e\u6210\u672c\u90e8\u5206\u3002.<\/p>\n<h3>\u6309\u529f\u80fd\u5212\u5206\u7684\u635f\u76ca\u8868\u5206\u6790\u7248\u672c<\/h3>\n<p>\u4e0e\u6211\u4eec\u4e4b\u524d\u5bf9\u6309\u6027\u8d28\u5212\u5206\u7684\u635f\u76ca\u8868\u6240\u505a\u7684\u7c7b\u4f3c\uff0c\u8fd9\u91cc\u662f\u6309\u529f\u80fd\u5212\u5206\u7684\u635f\u76ca\u8868\u00ab\u5206\u6790\u00bb\u8868\uff0c\u4ee5\u4fbf\u66f4\u597d\u5730\u7406\u89e3\u5176\u903b\u8f91\uff0c\u5e76\u5c06\u6b64\u5206\u6790\u7248\u672c\u4e0e\u6309\u6027\u8d28\u5212\u5206\u7684\u635f\u76ca\u8868\u8fdb\u884c\u6bd4\u8f83\u3002.<\/p>\n<table>\n<thead>\n<tr>\n<th data-col-size=\"md\">\u5faa\u73af<\/th>\n<th data-col-size=\"xl\">\u804c\u4f4d<\/th>\n<th data-col-size=\"md\">\u4e2d\u671f\u4f59\u989d<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td data-col-size=\"md\"><strong>\u8fd0\u884c\u5468\u671f<\/strong><\/td>\n<td data-col-size=\"xl\">\u9500\u552e\u989d\uff08\u6536\u5165\uff09<br \/>\n\u9500\u552e\u6210\u672c<br \/>\n\u5546\u4e1a\u8d39\u7528<br \/>\n\u4e00\u822c\u8d39\u7528\uff08\u6216\u884c\u653f\u8d39\u7528\uff09<br \/>\n\u7814\u53d1\u6210\u672c<\/td>\n<td data-col-size=\"md\"><strong>\u7ecf\u8425\u4e1a\u7ee9<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u6295\u8d44\u5468\u671f<\/strong><\/td>\n<td data-col-size=\"xl\">\uff08\u5df2\u5305\u542b\u5728\u4e0a\u8ff0\u9500\u552e\u6210\u672c\u548c\u8d39\u7528\u4e2d\uff09<\/td>\n<td data-col-size=\"md\">\uff08\u5df2\u6574\u5408\uff09<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u8d44\u91d1\u5468\u671f<\/strong><\/td>\n<td data-col-size=\"xl\">\u51c0\u8d22\u52a1\u652f\u51fa\u51cf\u8d22\u52a1\u6536\u5165<\/td>\n<td data-col-size=\"md\"><strong>\u5f53\u524d\u7ed3\u679c<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"md\"><strong>\u975e\u7ecf\u5e38\u6027\u4ea4\u6613\u53ca\u5176\u7a0e\u52a1\u5f71\u54cd<\/strong><\/td>\n<td data-col-size=\"xl\">+ \u975e\u91cd\u590d\u6027\u7ed3\u679c<br \/>\n\u4f01\u4e1a\u7a0e<\/td>\n<td data-col-size=\"md\"><strong>\u6700\u7ec8\u7ed3\u679c<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>\u65b9\u6cd5\u7684\u89c6\u89c9\u6bd4\u8f83<\/h2>\n<p>\u4e0b\u9762\u8fd9\u5f20\u56fe\u8868\u7b80\u8981\u6bd4\u8f83\u4e86\u7f16\u5236\u5206\u6790\u578b\u635f\u76ca\u8868\u7684\u4e24\u79cd\u65b9\u6cd5\uff1a<\/p>\n<p><a href=\"https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/compte-de-resultat-nature-fonction-comparatif.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6336\" src=\"https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/compte-de-resultat-nature-fonction-comparatif.png\" alt=\"\" width=\"1600\" height=\"1800\" title=\"\" srcset=\"https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/compte-de-resultat-nature-fonction-comparatif.png 1600w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/compte-de-resultat-nature-fonction-comparatif-267x300.png 267w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/compte-de-resultat-nature-fonction-comparatif-910x1024.png 910w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/compte-de-resultat-nature-fonction-comparatif-768x864.png 768w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/compte-de-resultat-nature-fonction-comparatif-1365x1536.png 1365w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/compte-de-resultat-nature-fonction-comparatif-11x12.png 11w, https:\/\/tulipemedia.com\/wp-content\/uploads\/sites\/3\/2025\/07\/compte-de-resultat-nature-fonction-comparatif-600x675.png 600w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/a><\/p>\n<p>\u6ce8\uff1a\u6309\u6027\u8d28\u5217\u793a\u7684\u635f\u76ca\u8868\u4e2d\u7684 EBITDA\uff08\u606f\u7a0e\u6298\u65e7\u644a\u9500\u524d\u5229\u6da6\uff09\u4e0e\u56fd\u9645 EBITDA \u8fd1\u4f3c\u7b49\u540c\u3002\u5b83\u8861\u91cf\u7684\u662f\u5f53\u524d\u7ecf\u8425\u6d3b\u52a8\u4ea7\u751f\u7684\u8d22\u5bcc\uff0c\u672a\u8ba1\u5165\u6298\u65e7\u548c\u644a\u9500\u3002\u6309\u529f\u80fd\u5217\u793a\u65f6\uff0c\u6298\u65e7\u5df2\u5305\u542b\u5728\u9500\u552e\u6210\u672c\u548c\u8d39\u7528\u4e2d\uff0c\u56e0\u6b64\u53ef\u4ee5\u76f4\u63a5\u5f97\u51fa\u8425\u4e1a\u5229\u6da6\uff08EBIT\uff09\u3002.<\/p>\n<p>\u4ee5\u4e0b\u662f\u9500\u91cf\u6700\u5927\u7684\u51e0\u9879\u7684\u5bf9\u6bd4\uff1a<\/p>\n<table>\n<thead>\n<tr>\n<th data-col-size=\"lg\">\u6cd5\u56fd\u6982\u5ff5\uff08PCG + SIG\uff09<\/th>\n<th data-col-size=\"md\">\u82f1\u7f8e\u6cd5\u7cfb\u7b49\u6548\/\u8fd1\u4f3c\u56fd\u9645\u8d22\u52a1\u62a5\u544a\u51c6\u5219<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td data-col-size=\"lg\">\u8425\u4e1a\u603b\u76c8\u4f59 (GOS)<\/td>\n<td data-col-size=\"md\">\u606f\u7a0e\u6298\u65e7\u644a\u9500\u524d\u5229\u6da6<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"lg\">\u8425\u4e1a\u5229\u6da6\uff08EBIT\uff09<\/td>\n<td data-col-size=\"md\">\u606f\u7a0e\u524d\u5229\u6da6\uff08EBIT\uff09<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"lg\">\u7a0e\u524d\u5229\u6da6\uff08CPBT\uff09<\/td>\n<td data-col-size=\"md\">\u7a0e\u524d\u5229\u6da6 (EBT)<\/td>\n<\/tr>\n<tr>\n<td data-col-size=\"lg\">\u6700\u7ec8\u7ed3\u679c<\/td>\n<td data-col-size=\"md\">\u672c\u671f\u51c0\u6536\u5165\/\u5229\u6da6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u4e3a\u4ec0\u4e48\u8fd9\u4e24\u79cd\u65b9\u6cd5\u53ef\u4ee5\u5e76\u5b58\uff1f<\/strong><\/p>\n<ul>\n<li>PCG + SIG\uff1a\u975e\u5e38\u8be6\u7ec6\uff0c\u9762\u5411\u5185\u90e8\u548c\u7a0e\u52a1\u7ba1\u7406\uff08\u6cd5\u56fd\u3001\u6bd4\u5229\u65f6\u7b49\uff09\u3002.<\/li>\n<li>\u56fd\u9645\u8d22\u52a1\u62a5\u544a\u51c6\u5219 (IFRS)\uff1a\u66f4\u7b80\u6d01\u3001\u66f4\u4ee5\u6295\u8d44\u8005\u4e3a\u5bfc\u5411\uff0c\u5e76\u53ef\u8fdb\u884c\u56fd\u9645\u6bd4\u8f83\uff08\u4e0a\u5e02\u96c6\u56e2\u3001\u5916\u56fd\u516c\u53f8\uff09\u3002.<\/li>\n<\/ul>\n<p>\u5b9e\u9645\u4e0a\uff0c\u8bb8\u591a\u6cd5\u56fd\u516c\u53f8\u4f1a\u540c\u65f6\u7f16\u5236\u4e24\u79cd\u62a5\u8868\uff1a\u4e00\u79cd\u662f\u63d0\u4ea4\u7ed9\u6ce8\u518c\u673a\u6784\u7684\u6cd5\u5b9a\u635f\u76ca\u8868\uff08PCG\u635f\u76ca\u8868\uff09\uff0c\u53e6\u4e00\u79cd\u662f\u4f9b\u7ba1\u7406\u5c42\u548c\u94f6\u884c\u5bb6\u4f7f\u7528\u7684\u5206\u6790\u7248\u672c\uff08SIG\u6216\u7c7b\u4f3cIFRS\u7684\u635f\u76ca\u8868\uff09\u3002.<\/p>\n<h2>\u51c0\u5229\u6da6\u548c\u8d44\u4ea7\u8d1f\u503a\u8868<\/h2>\n<p><strong>\u6700\u7ec8\u51c0\u7ed3\u679c\u5c06\u4f5c\u4e3a\u8d1f\u503a\u8bb0\u5165\u516c\u53f8\u7684\u8d44\u4ea7\u8d1f\u503a\u8868\u3002<\/strong>.<\/p>\n<p>\u5982\u679c\u7ed3\u679c\u4e3a\u6b63\uff0c\u8fd9\u5c06\u5bf9\u516c\u53f8\u7684\u8d44\u6e90\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\uff0c\u7136\u540e\u5c31\u9700\u8981\u51b3\u5b9a\u5982\u4f55\u5904\u7406\u8fd9\u7b14\u8d44\u91d1\uff08\u7ed3\u8f6c\u3001\u50a8\u5907\u3001\u80a1\u606f\u7b49\uff09\u3002.<\/p>\n<p>\u5982\u679c\u4e3a\u8d1f\u503c\uff0c\u5219\u4f1a\u51cf\u5c11\u6743\u76ca\u91d1\u989d\uff0c\u5e76\u4e14\u5982\u679c\u635f\u5931\u8d85\u8fc7\u53ef\u7528\u6743\u76ca\u91d1\u989d\uff0c\u6743\u76ca\u53ef\u80fd\u4f1a\u53d8\u4e3a\u8d1f\u503c\uff0c\u8d44\u4ea7\u8d1f\u503a\u8868\u4e0a\u7684\u8d1f\u6743\u76ca\u603b\u989d\u662f\u516c\u53f8\u6240\u53d1\u751f\u635f\u5931\u7684\u8d22\u52a1\u4f53\u73b0\u3002.<\/p>\n<h2>\u7ec3\u4e60\uff1a\u5b66\u4e60\u5982\u4f55\u6309\u6027\u8d28\u548c\u529f\u80fd\u7f16\u5236\u635f\u76ca\u8868<\/h2>\n<p>\u4e3a\u4e86\u5c06\u672c\u8bfe\u7a0b\u4e2d\u5b66\u5230\u7684\u6982\u5ff5\u4ed8\u8bf8\u5b9e\u8df5\uff0c\u8fd9\u91cc\u6709\u4e00\u4e2a\u5b9e\u9645\u6848\u4f8b\uff0c\u60a8\u5c06\u80fd\u591f\u5c1d\u8bd5\u5efa\u7acb\u635f\u76ca\u8868\u3002.<\/p>\n<h3>\u58f0\u660e\u2014\u2014\u6728\u5de5\u574a<\/h3>\n<p>L&#039;Atelier du Bois \u662f\u4e00\u5bb6\u751f\u4ea7\u548c\u9500\u552e\u5b9e\u5fc3\u6a61\u6728\u684c\u7684\u5c0f\u578b\u4f01\u4e1a\u3002\u5b83\u901a\u8fc7\u94f6\u884c\u8d37\u6b3e\u8d2d\u4e70\u673a\u5668\u8bbe\u5907\uff0c\u5e76\u5b9a\u671f\u5c06\u76c8\u4f59\u73b0\u91d1\u6295\u8d44\u4e8e\u77ed\u671f\u8d37\u6b3e\u3002.<\/p>\n<p>\u5728N\u8d22\u5e74\uff0c\u8be5\u516c\u53f8\u8fd8\u56e0\u4ea4\u8d27\u5ef6\u8fdf\u800c\u4ea7\u751f\u4e86\u8fdd\u7ea6\u91d1\u3002\u6839\u636e\u4ee5\u4e0b\u6570\u636e\uff0c\u60a8\u9700\u8981\u4f7f\u7528\u4e24\u79cd\u4e0d\u540c\u7684\u65b9\u6cd5\u7f16\u5236\u5176\u635f\u76ca\u8868\u3002.<\/p>\n<p>\u4ee5\u4e0b\u662f\u60a8\u9700\u8981\u4e86\u89e3\u7684\u5173\u4e8e\u8fd9\u5bb6\u516c\u53f8\u7684\u4fe1\u606f\uff1a<\/p>\n<p><b>\u6765\u81ea\u7ec3\u4e60 N \u7684\u6570\u636e<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>\u6570\u636e<\/b><\/td>\n<td><b>\u4ef7\u503c<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u684c\u5b50\u7684\u5e73\u5747\u552e\u4ef7<\/span><\/td>\n<td><span style=\"font-weight: 400;\">450 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u7ec3\u4e60\u671f\u95f4\u751f\u6210\u7684\u8868\u683c<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1 200<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u684c\u5b50\u5df2\u552e\u51fa<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1 050<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u6210\u54c1\u521d\u59cb\u5e93\u5b58<\/span><\/td>\n<td><span style=\"font-weight: 400;\">80\u5f20\u684c\u5b50\u2014\u2014\u6210\u672c\u4ef7\uff1a\u6bcf\u5f20280\u6b27\u5143<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u6210\u54c1\u6700\u7ec8\u5e93\u5b58<\/span><\/td>\n<td><span style=\"font-weight: 400;\">230\u5f20\u684c\u5b50\u2014\u2014\u6210\u672c\u4ef7\uff1a\u6bcf\u5f20280\u6b27\u5143<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u539f\u6750\u6599\u91c7\u8d2d<\/span><\/td>\n<td><span style=\"font-weight: 400;\">240 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u539f\u6750\u6599\u521d\u59cb\u5e93\u5b58<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u539f\u6750\u6599\u6700\u7ec8\u5e93\u5b58<\/span><\/td>\n<td><span style=\"font-weight: 400;\">45 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u4eba\u5458\u6210\u672c\u603b\u8ba1<\/span><\/td>\n<td><span style=\"font-weight: 400;\">148 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\"> \u00a0 \u5305\u62ec\u751f\u4ea7<\/span><\/td>\n<td><span style=\"font-weight: 400;\">95 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\"> \u00a0 \u5305\u62ec\u5546\u4e1a\u7528\u9014<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\"> \u00a0 \u5305\u62ec\u884c\u653f\u7ba1\u7406<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u5176\u4ed6\u5916\u90e8\u8d39\u7528<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u6298\u65e7\u6d25\u8d34\u603b\u989d<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\"> \u00a0 \u5305\u62ec\u751f\u4ea7<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\"> \u00a0 \u5305\u62ec\u5546\u4e1a\u7528\u9014<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\"> \u00a0 \u5305\u62ec\u884c\u653f\u7ba1\u7406<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4 000 \u20ac<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>\u8d37\u6b3e\u5229\u606f<\/b><\/td>\n<td><b>8 400 \u20ac<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>\u91d1\u878d\u4ea7\u54c1\uff08\u77ed\u671f\u6295\u8d44\uff09<\/b><\/td>\n<td><b>2 100 \u20ac<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>\u5408\u540c\u8fdd\u7ea6\u91d1\uff08\u4ea4\u8d27\u5ef6\u8fdf\uff09<\/b><\/td>\n<td><b>3 500 \u20ac<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>\u4f01\u4e1a\u7a0e\u7387<\/b><\/td>\n<td><b>25 %<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u95ee\u9898 1 \u2014 \u6309\u6027\u8d28\u5212\u5206\u7684\u635f\u76ca\u8868\uff08\u6cd5\u56fd\u4f1a\u8ba1\u51c6\u5219\uff09<\/strong><\/p>\n<p>\u8bf7\u6309\u7167\u6cd5\u56fd\u901a\u7528\u4f1a\u8ba1\u51c6\u5219\uff08GAAP\uff09\u7f16\u5236\u5b8c\u6574\u7684\u635f\u76ca\u8868\uff0c\u533a\u5206\u5229\u6da6\u6216\u4e8f\u635f\u7684\u4e09\u4e2a\u5c42\u6b21\uff1a\u8425\u4e1a\u5229\u6da6\uff08EBIT\uff09\u3001\u8d22\u52a1\u5229\u6da6\u6216\u4e8f\u635f\u4ee5\u53ca\u975e\u5e38\u5229\u6da6\u6216\u4e8f\u635f\u3002\u7136\u540e\u8ba1\u7b97\u7a0e\u524d\u5229\u6da6\u3001\u4f01\u4e1a\u6240\u5f97\u7a0e\u548c\u51c0\u5229\u6da6\u6216\u4e8f\u635f\u3002.<\/p>\n<p><strong>\u95ee\u9898 2 \u2014 \u6309\u804c\u80fd\u7f16\u5236\u635f\u76ca\u8868\uff08IFRS \/ IAS 1\uff09<\/strong><\/p>\n<p>\u6309\u804c\u80fd\u7f16\u5236\u635f\u76ca\u8868\u3002\u635f\u76ca\u8868\u5e94\u5305\u542b\u8d22\u52a1\u8981\u7d20\u548c\u7f5a\u6b3e\uff0c\u5e76\u4e25\u683c\u9075\u5b88\u56fd\u9645\u4f1a\u8ba1\u51c6\u5219\u7b2c1\u53f7\uff08IAS 1\uff09\u7684\u5217\u62a5\u89c4\u5219\u3002.<\/p>\n<p><strong>\u95ee\u9898 3 \u2014 \u51c0\u7ed3\u679c\u6bd4\u8f83<\/strong><\/p>\n<p>\u6bd4\u8f83\u4e24\u79cd\u62a5\u8868\u5f62\u5f0f\u7684\u51c0\u7ed3\u679c\u5e76\u8fdb\u884c\u8bc4\u8bba\u3002\u7ed3\u679c\u662f\u5426\u76f8\u540c\uff1f\u4e3a\u4ec0\u4e48\u4e24\u79cd\u635f\u76ca\u8868\u5728\u8d22\u52a1\u9879\u76ee\u548c\u7279\u6b8a\u9879\u76ee\u65b9\u9762\u7684\u7ed3\u6784\u6709\u6240\u4e0d\u540c\uff1f<\/p>\n<p><strong>\u95ee\u9898 4 \u2014 \u56fd\u9645\u8d22\u52a1\u62a5\u544a\u51c6\u5219\u5bf9\u7f5a\u6b3e\u7684\u5904\u7406<\/strong><\/p>\n<p>\u8bf7\u5177\u4f53\u89e3\u91ca\u4e3a\u4ec0\u4e48\u56fd\u9645\u8d22\u52a1\u62a5\u544a\u51c6\u5219\uff08IAS 1\uff09\u4e2d\u4e0d\u5b58\u5728\u00ab\u7279\u6b8a\u7ed3\u679c\u00bb\u7684\u6982\u5ff5\uff0c\u4ee5\u53ca\u5728\u8d22\u52a1\u62a5\u8868\u5217\u62a5\u4e2d\u5982\u4f55\u5904\u74063500\u6b27\u5143\u7684\u7f5a\u6b3e\u3002\u8fd9\u5bf9\u8d22\u52a1\u5206\u6790\u6709\u4f55\u5f71\u54cd\uff1f<\/p>\n<p><strong>\u95ee\u9898 5\uff08\u9644\u52a0\u9898\uff09\u2014\u2014 \u50a8\u5b58\u7684\u751f\u4ea7<\/strong><\/p>\n<p>\u89e3\u91ca\u4e3a\u4ec0\u4e48\u00ab\u5b58\u50a8\u751f\u4ea7\u00bb\u5728\u6f14\u793a\u6587\u7a3f\u4e2d\u6309\u6027\u8d28\u88ab\u89c6\u4e3a\u4e00\u79cd\u4ea7\u54c1\uff0c\u4f46\u5728\u6f14\u793a\u6587\u7a3f\u4e2d\u6309\u529f\u80fd\u5374\u4e0d\u662f\u3002.<\/p>\n<p>\u6ce8\uff1a280 \u6b27\u5143\u7684\u5355\u4f4d\u6210\u672c\u4ef7\u683c\u4e0e\u672c\u8d22\u5e74\u7684\u751f\u4ea7\u6210\u672c\u4e00\u81f4\u3002\u60a8\u53ef\u4ee5\u5728\u5f00\u59cb\u4e4b\u524d\u8fdb\u884c\u6838\u5b9e\u3002.<\/p>\n<h3>\u66f4\u6b63\u2014\u2014\u6728\u5de5\u574a<\/h3>\n<p><strong>\u7b54\u6848 1 \u2013 \u635f\u76ca\u8868\u7684\u6027\u8d28<\/strong><\/p>\n<p>\u8981\u56de\u7b54\u7b2c\u4e00\u4e2a\u95ee\u9898\uff0c\u6700\u91cd\u8981\u7684\u662f\u9996\u5148\u8981\u786e\u5b9a\u635f\u76ca\u8868\u7684\u57fa\u672c\u7ed3\u6784\u3002\u5982\u679c\u5bf9\u635f\u76ca\u8868\u7684\u7ed3\u6784\u8bb0\u5fc6\u6b63\u786e\uff0c\u6211\u4eec\u5fc5\u987b\u4ece\u6536\u5165\u5f00\u59cb\uff0c\u7136\u540e\u51cf\u53bb\u6240\u6709\u8fd0\u8425\u8d39\u7528\u3001\u8d22\u52a1\u8d39\u7528\uff0c\u6700\u540e\u51cf\u53bb\u975e\u5e38\u89c4\u8d39\u7528\u3002.<\/p>\n<table>\n<tbody>\n<tr>\n<th>\u6309\u6027\u8d28\u5212\u5206\u7684\u635f\u76ca\u8868 \u2014 \u8d22\u653f\u5e74\u5ea6 N<\/th>\n<th class=\"r\">\u6570\u91cf<\/th>\n<\/tr>\n<tr class=\"section\">\n<td colspan=\"2\">\u7ecf\u8425\u4e1a\u7ee9<\/td>\n<\/tr>\n<tr>\n<td>\u6536\u5165 = <span class=\"badge bp\">1,050 \u00d7 450 \u6b27\u5143<\/span><\/td>\n<td class=\"r\">472 500 \u20ac<\/td>\n<\/tr>\n<tr class=\"even\">\n<td>\u50a8\u5b58\u7684\u751f\u4ea7\u00a0<span class=\"badge bp\">= 150 \u5f20\u684c\u5b50 \u00d7 280 \u6b27\u5143<\/span><\/td>\n<td class=\"r\">+ 42 000 \u20ac<\/td>\n<\/tr>\n<tr>\n<td>\u539f\u6750\u6599\u91c7\u8d2d<\/td>\n<td class=\"r\">240 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"even\">\n<td>\u539f\u6750\u6599\u5e93\u5b58\u53d8\u5316 = <span class=\"badge bn\">SF \u2212 SI = 45,000 \u2212 28,000<\/span><\/td>\n<td class=\"r\">- 17,000 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"sub\">\n<td>\u2192 \u539f\u6750\u6599\u51c0\u6d88\u8017\u91cf<\/td>\n<td class=\"r\">223 000 \u20ac<\/td>\n<\/tr>\n<tr>\n<td>\u5458\u5de5\u6210\u672c<\/td>\n<td class=\"r\">148 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"even\">\n<td>\u5176\u4ed6\u5916\u90e8\u8d39\u7528<\/td>\n<td class=\"r\">42 000 \u20ac<\/td>\n<\/tr>\n<tr>\n<td>\u6298\u65e7\u548c\u644a\u9500\u8d39\u7528<\/td>\n<td class=\"r\">28 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"rex\">\n<td>\u8425\u4e1a\u5229\u6da6\uff08EBIT\uff09<\/td>\n<td class=\"r\">73 500 \u20ac<\/td>\n<\/tr>\n<tr class=\"section-fin\">\n<td colspan=\"2\">\u8d22\u52a1\u4e1a\u7ee9<\/td>\n<\/tr>\n<tr>\n<td>\u91d1\u878d\u4ea7\u54c1\u00a0<span class=\"badge bf\">\u77ed\u671f\u6295\u8d44<\/span><\/td>\n<td class=\"r\">+ 2 100 \u20ac<\/td>\n<\/tr>\n<tr class=\"even\">\n<td>\u5229\u606f\u00a0<span class=\"badge bf\">\u94f6\u884c\u8d37\u6b3e<\/span><\/td>\n<td class=\"r\">- 8,400 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"subtotal-fin\">\n<td>\u8d22\u52a1\u4e1a\u7ee9<\/td>\n<td class=\"r\">- 6,300 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"section-exc\">\n<td colspan=\"2\">\u5353\u8d8a\u7684\u6210\u679c<\/td>\n<\/tr>\n<tr>\n<td>\u5353\u8d8a\u7684\u4ea7\u54c1<\/td>\n<td class=\"r\">0 \u20ac<\/td>\n<\/tr>\n<tr class=\"even\">\n<td>\u7279\u6b8a\u6536\u8d39\u00a0<span class=\"badge be\">\u8fdd\u7ea6\u91d1<\/span><\/td>\n<td class=\"r\">- 3,500 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"subtotal-exc\">\n<td>\u5353\u8d8a\u7684\u6210\u679c<\/td>\n<td class=\"r\">- 3,500 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"section-is\">\n<td colspan=\"2\">\u4f01\u4e1a\u6240\u5f97\u7a0e<\/td>\n<\/tr>\n<tr>\n<td>IS \u4e4b\u524d\u7684\u7ed3\u679c\u00a0<span class=\"badge bn\">73,500 \u2212 6,300 \u2212 3,500<\/span><\/td>\n<td class=\"r\">63 700 \u20ac<\/td>\n<\/tr>\n<tr class=\"even\">\n<td>\u4f01\u4e1a\u6240\u5f97\u7a0e\u00a0<span class=\"badge bn\">63,700 \u00d7 25 %<\/span><\/td>\n<td class=\"r\">- 15,925 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"rnet\">\n<td>\u6700\u7ec8\u7ed3\u679c<\/td>\n<td class=\"r\">47 775 \u20ac<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u7b54\u6848 2 \u2013 \u6309\u529f\u80fd\u5212\u5206\u7684\u635f\u76ca\u8868<\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<th>\u6309\u804c\u80fd\u5212\u5206\u7684\u635f\u76ca\u8868\u2014\u2014\u7ec3\u4e60 N<\/th>\n<th class=\"r\">\u6570\u91cf<\/th>\n<\/tr>\n<tr>\n<td><strong>\u6536\u5165<\/strong><\/td>\n<td class=\"r\"><strong>472 500 \u20ac<\/strong><\/td>\n<\/tr>\n<tr class=\"even\">\n<td>\u9500\u552e\u6210\u672c = 1050 \u5f20\u684c\u5b50 \u00d7 280 \u6b27\u5143<\/td>\n<td class=\"r\">- 294,000 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"marge\">\n<td>\u6bdb\u5229\u7387\u00a0<span class=\"badge bn\">= \u6536\u5165 \u2013 \u9500\u552e\u6210\u672c (37.8 %)<\/span><\/td>\n<td class=\"r\">178 500 \u20ac<\/td>\n<\/tr>\n<tr class=\"section\">\n<td colspan=\"2\">\u8fd0\u8425\u6210\u672c<\/td>\n<\/tr>\n<tr class=\"sub\">\n<td>\u9500\u552e\u4eba\u5458<\/td>\n<td class=\"r\">33 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"sub even\">\n<td>\u5546\u4e1a\u6298\u65e7<\/td>\n<td class=\"r\">6 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"subtotal\">\n<td>\u5546\u4e1a\u603b\u8d39\u7528<\/td>\n<td class=\"r\">39 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"sub\">\n<td>\u884c\u653f\u4eba\u5458<\/td>\n<td class=\"r\">20 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"sub even\">\n<td>\u5176\u4ed6\u5916\u90e8\u8d39\u7528<\/td>\n<td class=\"r\">42 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"sub\">\n<td>\u884c\u653f\u6298\u65e7<\/td>\n<td class=\"r\">4 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"sub even\">\n<td>\u5176\u4ed6\u8fd0\u8425\u8d39\u7528\u00a0<span class=\"badge be\">\u5408\u540c\u8fdd\u7ea6\u91d1\u2014\u2014\u56fd\u9645\u4f1a\u8ba1\u51c6\u5219\u7b2c1\u53f7<\/span><\/td>\n<td class=\"r\">3 500 \u20ac<\/td>\n<\/tr>\n<tr class=\"subtotal\">\n<td>\u884c\u653f\u8d39\u7528\u53ca\u5176\u4ed6\u8fd0\u8425\u8d39\u7528\u603b\u989d<\/td>\n<td class=\"r\">69 500 \u20ac<\/td>\n<\/tr>\n<tr class=\"rex\">\n<td>\u8425\u4e1a\u5229\u6da6\uff08EBIT\uff09<\/td>\n<td class=\"r\">70 000 \u20ac<\/td>\n<\/tr>\n<tr class=\"section-fin\">\n<td colspan=\"2\">\u8d22\u52a1\u4e1a\u7ee9<\/td>\n<\/tr>\n<tr>\n<td>\u91d1\u878d\u4ea7\u54c1<\/td>\n<td class=\"r\">+ 2 100 \u20ac<\/td>\n<\/tr>\n<tr class=\"even\">\n<td>\u8d22\u52a1\u8d39\u7528<\/td>\n<td class=\"r\">- 8,400 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"subtotal-fin\">\n<td>\u51c0\u8d22\u52a1\u4e1a\u7ee9<\/td>\n<td class=\"r\">- 6,300 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"rai\">\n<td>\u7a0e\u524d\u7ed3\u679c<\/td>\n<td class=\"r\">63 700 \u20ac<\/td>\n<\/tr>\n<tr class=\"even\">\n<td>\u4f01\u4e1a\u6240\u5f97\u7a0e\u00a0<span class=\"badge bn\">63,700 \u00d7 25 %<\/span><\/td>\n<td class=\"r\">- 15,925 \u6b27\u5143<\/td>\n<\/tr>\n<tr class=\"rnet\">\n<td>\u6700\u7ec8\u7ed3\u679c<\/td>\n<td class=\"r\">47 775 \u20ac<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u7b54\u6848 3 \u2013 \u51c0\u7ed3\u679c\u6bd4\u8f83<\/strong><\/p>\n<p>\u4e24\u79cd\u65b9\u6cd5\u5f97\u51fa\u7684\u51c0\u7ed3\u679c\u76f8\u540c\uff08\u5747\u4e3a 47,775 \u6b27\u5143\uff09\uff0c\u56e0\u4e3a\u4e24\u79cd\u65b9\u6cd5\u90fd\u57fa\u4e8e\u76f8\u540c\u7684\u7ecf\u6d4e\u6d41\u52a8\u3002\u533a\u522b\u5728\u4e8e\u8d26\u6237\u7ed3\u6784\uff0c\u800c\u975e\u6700\u7ec8\u7ed3\u679c\u3002.<\/p>\n<p>\u4e24\u79cd\u65b9\u6cd5\u8ba1\u7b97\u51fa\u7684\u8425\u4e1a\u5229\u6da6\u5b58\u5728\u5dee\u5f02\uff08\u6cd5\u56fd\u4f1a\u8ba1\u51c6\u5219\u4e0b\u4e3a 73,500 \u6b27\u5143\uff0c\u56fd\u9645\u8d22\u52a1\u62a5\u544a\u51c6\u5219\u4e0b\u4e3a 70,000 \u6b27\u5143\uff09\u3002\u8fd9\u662f\u56e0\u4e3a\uff0c\u6839\u636e\u56fd\u9645\u8d22\u52a1\u62a5\u544a\u51c6\u5219\uff0c3,500 \u6b27\u5143\u7684\u7f5a\u6b3e\u8ba1\u5165\u8425\u4e1a\u8d39\u7528\uff08\u4ece\u800c\u964d\u4f4e\u8425\u4e1a\u5229\u6da6\uff09\uff0c\u800c\u6839\u636e\u6cd5\u56fd\u4f1a\u8ba1\u51c6\u5219\uff0c\u8be5\u7f5a\u6b3e\u5219\u4f5c\u4e3a\u4e00\u9879\u975e\u5e38\u9879\u76ee\u5355\u72ec\u8ba1\u5165\u8425\u4e1a\u8d39\u7528\u3002\u8fd9\u662f\u5206\u6790\u65b9\u6cd5\u4e0a\u7684\u5dee\u5f02\uff0c\u800c\u975e\u8ba1\u91cf\u65b9\u6cd5\u4e0a\u7684\u5dee\u5f02\u3002.<\/p>\n<p><strong>\u7b54\u6848 4 \u2013 \u56fd\u9645\u8d22\u52a1\u62a5\u544a\u51c6\u5219\u5bf9\u7f5a\u6b3e\u7684\u5904\u7406<\/strong><\/p>\n<p>IAS 1\uff08\u7b2c 87 \u6761\uff09\u660e\u786e\u7981\u6b62\u5c06\u4ea7\u54c1\u6216\u8d39\u7528\u5217\u4e3a\u00ab\u975e\u5e38\u9879\u76ee\u00bb\uff0c\u65e0\u8bba\u662f\u5728\u635f\u76ca\u8868\u6b63\u6587\u4e2d\u8fd8\u662f\u5728\u9644\u6ce8\u4e2d\u3002.<\/p>\n<p>\u6807\u51c6\u5236\u5b9a\u8005\u7684\u7406\u7531\u6709\u4e24\u65b9\u9762\uff1a<\/p>\n<ul>\n<li>\u2019\u7279\u6b8a\u00ab\u8fd9\u4e00\u9650\u5b9a\u662f\u4e3b\u89c2\u7684\uff0c\u6ca1\u6709\u7cbe\u786e\u7684\u5b9a\u4e49\uff0c\u8fd9\u635f\u5bb3\u4e86\u516c\u53f8\u4e4b\u95f4\u4ee5\u53ca\u4e0d\u540c\u8d22\u653f\u5e74\u5ea6\u4e4b\u95f4\u8d22\u52a1\u62a5\u8868\u7684\u53ef\u6bd4\u6027\u3002.<\/li>\n<li>\u8d22\u52a1\u62a5\u8868\u4f7f\u7528\u8005\uff08\u6295\u8d44\u8005\u3001\u5206\u6790\u5e08\uff09\u53ef\u80fd\u4f1a\u503e\u5411\u4e8e\u5c06\u8fd9\u4e9b\u56e0\u7d20\u6392\u9664\u5728\u5206\u6790\u4e4b\u5916\uff0c\u8fd9\u5c06\u626d\u66f2\u4ed6\u4eec\u5bf9\u5b9e\u9645\u4e1a\u7ee9\u7684\u8bc4\u4f30\u3002.<\/li>\n<\/ul>\n<p><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, 'Noto Sans', sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji';\">\u6839\u636e\u56fd\u9645\u8d22\u52a1\u62a5\u544a\u51c6\u5219\uff08IFRS\uff09\uff0c\u8fd93,500\u6b27\u5143\u7684\u7f5a\u6b3e\u8ba1\u5165\u8425\u4e1a\u5229\u6da6\u4e2d\u7684\u5176\u4ed6\u8425\u4e1a\u8d39\u7528\u3002\u5982\u679c\u91d1\u989d\u8f83\u5927\uff0c\u5219\u5fc5\u987b\u5728\u8d22\u52a1\u62a5\u8868\u9644\u6ce8\u4e2d\u62ab\u9732\uff08\u5305\u62ec\u6027\u8d28\u548c\u91d1\u989d\uff09\uff0c\u4f46\u4e0d\u80fd\u4f5c\u4e3a\u00ab\u7279\u6b8a\u00bb\u9879\u76ee\u5355\u72ec\u5217\u793a\u3002.<\/span><\/p>\n<p>\u5bf9\u8d22\u52a1\u5206\u6790\u7684\u542f\u793a\uff1a<\/p>\n<ul>\n<li>IFRS EBIT\uff08\u8425\u4e1a\u5229\u6da6\uff09\u66f4\u4e3a\u4fdd\u5b88\uff1a\u5b83\u5305\u542b\u4e86\u4e0e\u4e1a\u52a1\u76f8\u5173\u7684\u6240\u6709\u4e8b\u9879\uff0c\u5305\u62ec\u4e00\u6b21\u6027\u4e8b\u6545\u3002.<\/li>\n<li>\u60f3\u8981\u89c4\u8303\u5316\u7ed3\u679c\u7684\u5206\u6790\u4eba\u5458\u5fc5\u987b\u6839\u636e\u9644\u5f55\u4e2d\u7684\u4fe1\u606f\u81ea\u884c\u8fdb\u884c\u89c4\u8303\u5316\uff0c\u8fd9\u9700\u8981\u660e\u786e\u7684\u91cd\u65b0\u5904\u7406\u5de5\u4f5c\u3002.<\/li>\n<li>\u5728 PCG \u4e2d\uff0c\u5c06\u5f02\u5e38\u7ed3\u679c\u5355\u72ec\u5217\u51fa\uff0c\u53ef\u4ee5\u66f4\u6e05\u6670\u5730\u4e86\u89e3\u7ecf\u5e38\u6027\u4e1a\u7ee9\uff0c\u4f46\u540c\u65f6\u4e5f\u5e26\u6765\u4e86\u4f18\u5316\u7684\u98ce\u9669\uff1a\u516c\u53f8\u53ef\u80fd\u4f1a\u4e3a\u4e86\u63d0\u9ad8\u7ecf\u8425\u4e1a\u7ee9\u800c\u5c06\u67d0\u4e9b\u8d39\u7528\u5f52\u7c7b\u4e3a\u00ab\u5f02\u5e38\u00bb\u8d39\u7528\u3002.<\/li>\n<\/ul>\n<p><strong>\u7b54\u6848 5 \u2013 \u50a8\u5b58\u7684\u751f\u4ea7<\/strong><\/p>\n<p>\u6839\u636e\u4f1a\u8ba1\u65b9\u6cd5\uff0c\u672c\u4f1a\u8ba1\u5e74\u5ea6\u5185\u53d1\u751f\u7684\u6240\u6709\u8d39\u7528\u90fd\u4f1a\u88ab\u8bb0\u5f55\uff0c\u65e0\u8bba\u8fd9\u4e9b\u8d39\u7528\u662f\u4e0e\u5df2\u552e\u51fa\u7684\u684c\u5b50\u8fd8\u662f\u4ecd\u5728\u5e93\u5b58\u4e2d\u7684\u684c\u5b50\u76f8\u5173\u3002\u5982\u679c\u4ec5\u5c06\u8fd9\u4e9b\u603b\u8d39\u7528\u8ba1\u5165\u6536\u5165\uff0c\u5c06\u4f1a\u5bfc\u81f4\u5229\u6da6\u5f02\u5e38\u4f4e\u3002\u00ab\u5e93\u5b58\u751f\u4ea7\u00bb\u9879\u76ee\uff0842,000 \u6b27\u5143\uff0c\u8ba1\u5165\u6536\u5165\uff09\u8d77\u5230\u4e86\u7ea0\u6b63\u4f5c\u7528\uff1a\u5b83\u62b5\u6d88\u4e86\u4e0e\u5c1a\u672a\u552e\u51fa\u7684 150 \u5f20\u684c\u5b50\u76f8\u5173\u7684\u8d39\u7528\uff0c\u4ece\u800c\u4f7f\u53ea\u6709\u4e0e\u5df2\u552e\u51fa\u7684 1,050 \u5f20\u684c\u5b50\u76f8\u5173\u7684\u8d39\u7528\u624d\u4f1a\u5f71\u54cd\u5229\u6da6\u3002.<\/p>\n<p>\u5728\u57fa\u4e8e\u529f\u80fd\u7684\u6210\u672c\u6838\u7b97\u65b9\u6cd5\u4e2d\uff0c\u8fd9\u79cd\u673a\u5236\u662f\u4e0d\u5fc5\u8981\u7684\uff1a\u9500\u552e\u6210\u672c\u76f4\u63a5\u6309\u552e\u51fa\u7684\u6570\u91cf\u8ba1\u7b97\uff081050 \u00d7 280 \u6b27\u5143\uff09\u3002\u5e93\u5b58\u684c\u5b50\u7684\u6210\u672c\u6c38\u8fdc\u4e0d\u4f1a\u8ba1\u5165\u635f\u76ca\u8868\u2014\u2014\u5b83\u4eec\u4ecd\u7136\u4f5c\u4e3a\u4ea7\u6210\u54c1\u5b58\u8d27\u5728\u8d44\u4ea7\u8d1f\u503a\u8868\u4e2d\u5217\u793a\u3002.<\/p>\n<p><strong>\u4e0e\u6210\u672c\u4ef7\u683c\u8bc4\u7ea7\u76f8\u6bd4<\/strong><\/p>\n<p>\u5355\u4f4d\u6210\u672c\u4ef7\u4e3a 280 \u6b27\u5143\u3002\u4e3a\u4e86\u9a8c\u8bc1\u672c\u8d22\u5e74\u7684\u603b\u751f\u4ea7\u6210\u672c\u662f\u5426\u4e0e\u6b64\u6210\u672c\u4ef7\u76f8\u7b26\uff0c\u6211\u4eec\u53ef\u4ee5\u5bf9\u4e24\u8005\u8fdb\u884c\u6bd4\u8f83\u3002\u4e3a\u6b64\uff0c\u6211\u4eec\u5c06\u672c\u8d22\u5e74\u7684\u6240\u6709\u751f\u4ea7\u6210\u672c\u76f8\u52a0\uff0c\u5176\u4e2d\u5305\u62ec\uff1a<\/p>\n<ul>\n<li>\u539f\u6750\u6599\u91c7\u8d2d\u8c03\u6574\uff08\u5373\u672c\u8d22\u653f\u5e74\u5ea6\u5185\u91c7\u8d2d\u548c\u52a0\u5de5\u7684\u539f\u6750\u6599\uff0c\u800c\u4e0d\u662f\u4e0a\u4e00\u8d22\u653f\u5e74\u5ea6\u7684\u539f\u6750\u6599\uff09\uff1a240,000 \u6b27\u5143 - 17,000 \u6b27\u5143 = 223,000 \u6b27\u5143\uff1b ;<\/li>\n<li>\u751f\u4ea7\u76f8\u5173\u4eba\u5458\u6210\u672c\uff1a95,000 \u6b27\u5143<\/li>\n<li>\u4e0e\u751f\u4ea7\u76f8\u5173\u7684\u6298\u65e7\u6d25\u8d34\uff1a18,000 \u6b27\u5143\u3002.<\/li>\n<\/ul>\n<p style=\"text-align: center;\">\u603b\u751f\u4ea7\u6210\u672c = 223,000 + 95,000 + 18,000 = 336,000 \u6b27\u5143<\/p>\n<p>\u6211\u4eec\u5c06\u603b\u751f\u4ea7\u6210\u672c\u4e0e\u751f\u4ea7\u7684\u5355\u4f4d\u6570\u91cf\uff08\u800c\u4e0d\u662f\u5b9e\u9645\u9500\u552e\u7684\u5355\u4f4d\u6570\u91cf\uff0c\u56e0\u4e3a\u6211\u4eec\u60f3\u4e86\u89e3\u7684\u662f\u6210\u672c\u4ef7\u800c\u4e0d\u662f\u9500\u552e\u6210\u672c\uff09\u8054\u7cfb\u8d77\u6765\uff1a336,000 \/ 1,200 \u5f20\u684c\u5b50 = 280 \u6b27\u5143\/\u5355\u4f4d\u3002.<\/p>\n<p>\u56e0\u6b64\uff0c\u6210\u672c\u4ef7\u683c\u4e0e\u8be5\u8d22\u653f\u5e74\u5ea6\u7684\u603b\u751f\u4ea7\u6210\u672c\u4e00\u81f4\uff01<\/p>\n<h2>\u7ed3\u8bba<\/h2>\n<p>\u5bf9\u4e8e\u4f01\u4e1a\u9886\u5bfc\u8005\u3001\u51b3\u7b56\u8005\u3001\u7ecf\u7406\u6216\u91c7\u8d2d\u5458\u6765\u8bf4\uff0c\u635f\u76ca\u8868\u662f\u5fc5\u987b\u638c\u63e1\u7684\u4e3b\u8981\u6587\u4ef6\uff0c\u56e0\u4e3a\u8fd9\u4efd\u6587\u4ef6\u80fd\u591f\u8ba9\u6211\u4eec\u4e86\u89e3\u516c\u53f8\u7684\u5546\u4e1a\u6a21\u5f0f\u662f\u5426\u5e74\u590d\u4e00\u5e74\u5730\u53ef\u884c\u3002.<\/p>\n<p>\u5927\u591a\u6570\u5916\u884c\u4eba\u53ea\u5173\u5fc3\u8425\u4e1a\u989d\u548c\u79df\u91d1\uff0c\u5bf9\u4eba\u4e8b\u6210\u672c\u4e5f\u53ea\u662f\u7565\u77e5\u4e00\u4e8c\uff0c\u800c\u6ca1\u6709\u8be6\u7ec6\u5206\u6790\u635f\u76ca\u8868\uff0c\u8fd9\u662f\u4e00\u4e2a\u4e25\u91cd\u7684\u9519\u8bef\u3002.<\/p>\n<p>\u73b0\u5728\u6211\u4eec\u5df2\u7ecf\u4e86\u89e3\u4e86\u5982\u4f55\u7f16\u5236\u548c\u9605\u8bfb\u635f\u76ca\u8868\uff0c\u6211\u4eec\u5c06\u5728\u4e0b\u4e00\u7ae0\u4e2d\u4e86\u89e3\u8d44\u4ea7\u8d1f\u503a\u8868\u7684\u6784\u6210\uff0c\u5e76\u5728\u63a5\u4e0b\u6765\u7684\u8bfe\u7a0b\u4e2d\u4e86\u89e3\u53ef\u4ee5\u4ece\u635f\u76ca\u8868\u4e2d\u5f97\u51fa\u54ea\u4e9b\u6307\u6807\uff0c\u4ee5\u4fbf\u8bc4\u4f30\u516c\u53f8\u7684\u8d22\u52a1\u72b6\u51b5\uff0c\u7279\u522b\u662f\u5176\u5728\u635f\u76ca\u8868\u6240\u6d89\u5e74\u5ea6\u7684\u76c8\u5229\u80fd\u529b\u3002.<\/p>\n<p>\u6b22\u8fce\u8ba2\u9605\u535a\u5ba2\u5e76\u7559\u8a00\uff0c\u6211\u4eec\u4e0b\u7ae0\u518d\u89c1\u3002.<\/p>\n<p>\ud83d\udc49 \u4e0b\u4e00\u7ae0\uff1a <a href=\"https:\/\/tulipemedia.com\/zh\/bilan-comptable\/\">\u4e86\u89e3\u8d44\u4ea7\u8d1f\u503a\u8868<\/a><br \/>\n\ud83d\udcd6\u00a0<a href=\"https:\/\/tulipemedia.com\/zh\/cours-gestion-entreprise\/\">\u8fd4\u56de\u76ee\u5f55<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Comme nous l&rsquo;avons vu dans le chapitre pr\u00e9c\u00e9dent, les \u00e9tats financiers incluent deux documents fondamentaux pour la compr\u00e9hension de l&rsquo;\u00e9tat de sant\u00e9 d&rsquo;une entreprise : le bilan et le compte de r\u00e9sultat. Dans le cadre de ce cours sur la gestion et la finance d&rsquo;entreprise, nous allons nous int\u00e9resser au compte de r\u00e9sultat, qui est [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":5759,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[171],"class_list":["post-5736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-fondamentaux-de-la-gestion-dentreprise"],"_links":{"self":[{"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/posts\/5736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/comments?post=5736"}],"version-history":[{"count":3,"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/posts\/5736\/revisions"}],"predecessor-version":[{"id":6337,"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/posts\/5736\/revisions\/6337"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/media\/5759"}],"wp:attachment":[{"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/media?parent=5736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/categories?post=5736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tulipemedia.com\/zh\/wp-json\/wp\/v2\/tags?post=5736"}],"curies":[{"name":"\u53ef\u6e7f\u6027\u7c89\u5242","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}