{"id":35594,"date":"2023-09-20T23:56:00","date_gmt":"2023-09-20T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=35594"},"modified":"2025-05-18T09:08:38","modified_gmt":"2025-05-18T01:08:38","slug":"%e9%82%a3%e4%ba%9b%e9%87%8d%e8%a6%81%e9%a2%a8%e9%9a%aasec%e8%a6%8f%e5%ae%9a%e5%bf%85%e9%9c%80%e5%9c%a8%e8%b2%a1%e5%a0%b1%e4%b8%ad%e6%8f%ad%e9%9c%b2","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/09\/20\/%e9%82%a3%e4%ba%9b%e9%87%8d%e8%a6%81%e9%a2%a8%e9%9a%aasec%e8%a6%8f%e5%ae%9a%e5%bf%85%e9%9c%80%e5%9c%a8%e8%b2%a1%e5%a0%b1%e4%b8%ad%e6%8f%ad%e9%9c%b2\/","title":{"rendered":"\u90a3\u4e9b\u91cd\u8981\u98a8\u96aaSEC\u898f\u5b9a\u5fc5\u9700\u5728\u8ca1\u5831\u4e2d\u63ed\u9732"},"content":{"rendered":"\n<p>\u5728<a href=\"https:\/\/berkshirehathaway.com\/letters\/2015ltr.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u83f2\u72792015\u5e74\u7684\u80a1\u6771\u4fe1<\/a>\u88e1\u9762\uff08\u4ee5\u4e0b\u7684\u659c\u9ad4\u5b57\uff09\uff0c\u5df4\u83f2\u7279\u4ed4\u7d30\u8aaa\u660e\u4e86SEC\u898f\u5b9a\u5728\u8ca1\u5831\u4e2d\u5fc5\u9700\u63ed\u9732\u7684\u91cd\u8981\u98a8\u96aa\u3002<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"\u986f\u793a\/\u96b1\u85cf\u5167\u5bb9\u76ee\u9304\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" 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href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/09\/20\/%e9%82%a3%e4%ba%9b%e9%87%8d%e8%a6%81%e9%a2%a8%e9%9a%aasec%e8%a6%8f%e5%ae%9a%e5%bf%85%e9%9c%80%e5%9c%a8%e8%b2%a1%e5%a0%b1%e4%b8%ad%e6%8f%ad%e9%9c%b2\/#%E9%87%8D%E8%A6%81%E9%A2%A8%E9%9A%AA\" >\u91cd\u8981\u98a8\u96aa<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/09\/20\/%e9%82%a3%e4%ba%9b%e9%87%8d%e8%a6%81%e9%a2%a8%e9%9a%aasec%e8%a6%8f%e5%ae%9a%e5%bf%85%e9%9c%80%e5%9c%a8%e8%b2%a1%e5%a0%b1%e4%b8%ad%e6%8f%ad%e9%9c%b2\/#%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\" >\u76f8\u95dc\u6587\u7ae0<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%87%8D%E8%A6%81%E9%A2%A8%E9%9A%AA\"><\/span>\u91cd\u8981\u98a8\u96aa <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em>\u8207\u6240\u6709\u4e0a\u5e02\u516c\u53f8\u4e00\u6a23\uff0c\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\uff08SEC\uff09\u8981\u6c42\u6211\u5011\u6bcf\u5e74\u5728\u6211\u5011\u7684 10-K \u4e2d\u5c0d\u201c\u98a8\u96aa\u56e0\u7d20\u201d\u9032\u884c\u5206\u985e\u3002 \u7136\u800c\uff0c\u6211\u4e0d\u8a18\u5f97\u95b1\u8b80 10-K \u7684\u201c\u98a8\u96aa\u201d\u90e8\u5206\u5e6b\u52a9\u6211\u8a55\u4f30\u4f01\u696d\u7684\u4f8b\u5b50\u3002 \u9019\u4e26\u4e0d\u662f\u56e0\u70ba\u5df2\u8b58\u5225\u7684\u98a8\u96aa\u4e0d\u771f\u5be6\u3002 \u7136\u800c\uff0c\u771f\u6b63\u91cd\u8981\u7684\u98a8\u96aa\u901a\u5e38\u662f\u773e\u6240\u5468\u77e5\u7684\u3002 <\/em><\/p>\n\n\n\n<p><em>\u9664\u6b64\u4e4b\u5916\uff0c10-K \u7684\u98a8\u96aa\u76ee\u9304\u5f88\u5c11\u6709\u52a9\u65bc\u8a55\u4f30\uff1a<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>(1) 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\u9019\u4e9b\u5f88\u5bb9\u6613\u5217\u51fa\u4f46\u5f88\u96e3\u8a55\u4f30\uff1a\u67e5\u7406\u3001\u6211\u548c\u6211\u5011\u7684\u5404\u4f4d\u9996\u5e2d\u57f7\u884c\u5b98\u5728\u8a08\u7b97\u9019\u4e9b\u53ef\u80fd\u6027\u53ef\u80fd\u7522\u751f\u7684\u53ef\u80fd\u6027\u3001\u6642\u9593\u548c\u6210\u672c\uff08\u6216\u6536\u76ca\uff09\u6642\uff0c\u5f80\u5f80\u5b58\u5728\u5f88\u5927\u5dee\u7570\u3002<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"144\" height=\"83\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2023\/05\/r-1600x1200-1.jpg\" alt=\"\u91cd\u8981\u98a8\u96aa\" class=\"wp-image-35595\"\/><figcaption class=\"wp-element-caption\">credit: financialcrimeacademy.org<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\"><\/span>\u76f8\u95dc\u6587\u7ae0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/09\/20\/%e9%82%a3%e4%ba%9b%e9%87%8d%e8%a6%81%e9%a2%a8%e9%9a%aasec%e8%a6%8f%e5%ae%9a%e5%bf%85%e9%9c%80%e5%9c%a8%e8%b2%a1%e5%a0%b1%e4%b8%ad%e6%8f%ad%e9%9c%b2\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u90a3\u4e9b\u91cd\u8981\u98a8\u96aaSEC\u898f\u5b9a\u5fc5\u9700\u5728\u8ca1\u5831\u4e2d\u63ed\u9732<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/05\/17\/%E9%A2%A8%E9%9A%AA%E5%92%8C%E4%B8%8D%E7%A2%BA%E5%AE%9A%E6%80%A7\/\">\u98a8\u96aa\u548c\u4e0d\u78ba\u5b9a\u6027<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/04\/21\/%e6%b0%b8%e4%b9%85%e6%80%a7%e7%9a%84%e8%b3%87%e6%9c%ac%e6%90%8d%e5%a4%b1%e6%89%8d%e6%98%af%e6%8a%95%e8%b3%87%e4%ba%ba%e5%bf%85%e9%9c%80%e6%ad%a3%e8%a6%96%e7%9a%84\/\">\u6c38\u4e45\u6027\u7684\u8cc7\u672c\u640d\u5931\u624d\u662f\u6295\u8cc7\u4eba\u5fc5\u9700\u6b63\u8996\u7684\u6700\u5927\u98a8\u96aa<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/03\/16\/%e8%82%a1%e5%b8%82%e6%8a%95%e8%b3%87%e4%ba%ba%e6%89%80%e6%87%89%e6%ad%a3%e8%a6%96%e7%9a%84%e9%a2%a8%e9%9a%aa%e6%9c%89%e9%82%a3%e4%ba%9b\/\">\u80a1\u5e02\u6295\u8cc7\u4eba\u6240\u61c9\u6b63\u8996\u7684\u98a8\u96aa\u6709\u90a3\u4e9b\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/11\/16\/%e6%8a%95%e8%b3%87%e4%ba%ba%e9%9c%80%e8%a6%81%e7%9a%84%e6%98%af%e5%8f%af%e7%9f%a5%e7%9a%84%e5%92%8c%e9%87%8d%e8%a6%81%e7%9a%84%e8%b3%87%e8%a8%8a\/\">\u6295\u8cc7\u4eba\u9700\u8981\u7684\u8cc7\u8a0a\u8981\u5177\u50992\u8981\u4ef6\uff1a\u53ef\u77e5\u7684\u548c\u91cd\u8981\u7684<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/06\/18\/%e8%b2%a1%e5%8b%99%e5%a0%b1%e8%a1%a8%e8%a3%a1%e4%b8%8d%e5%90%88%e7%90%86%e7%9a%84%e6%9c%83%e8%a8%88%e6%89%8b%e6%b3%95\/\">\u8ca1\u52d9\u5831\u8868\u88e1\u4e0d\u5408\u7406\u7684\u6703\u8a08\u624b\u6cd5<\/a>\u300b<\/li>\n<\/ul>\n\n\n\n<p id=\"block-b602cc2b-45ae-45c0-a24c-5bec9bc06f95\"><em><strong>\u91cd\u8981\u8072\u660e<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>\u672c\u7ad9\u5167\u5bb9\u70ba\u4f5c\u8005\u500b\u4eba\u610f\u898b\uff0c\u50c5\u4f9b\u53c3\u8003\uff0c\u672c\u4eba\u4e0d\u5c0d\u6587\u7ae0\u5167\u5bb9\u3001\u8cc7\u6599\u4e4b\u6b63\u78ba\u6027\u3001\u770b\u6cd5\u3001\u8207\u5373\u6642\u6027\u8ca0\u4efb\u4f55\u8cac\u4efb\uff0c\u8b80\u8005\u8acb\u52d9\u5fc5\u81ea\u884c\u5224\u65b7\u3002<\/em><\/li>\n\n\n\n<li><em>\u5c0d\u65bc\u8b80\u8005\u76f4\u63a5\u6216\u9593\u63a5\u4f9d\u8cf4\u4e26\u53c3\u8003\u672c\u7ad9\u8cc7\u8a0a\u5f8c\uff0c\u63a1\u53d6\u4efb\u4f55\u6295\u8cc7\u884c\u70ba\u6240\u5c0e\u81f4\u4e4b\u76f4\u63a5\u6216\u9593\u63a5\u640d\u5931\uff0c\u6216\u56e0\u6b64\u7522\u751f\u4e4b\u4e00\u5207\u8cac\u4efb\uff0c\u672c\u4eba\u5747\u4e0d\u8ca0\u4efb\u4f55\u640d\u5bb3\u8ce0\u511f\u53ca\u5176\u4ed6\u6cd5\u5f8b\u4e0a\u4e4b\u8cac\u4efb\u3002<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u5df4\u83f2\u7279\u4ed4\u7d30\u8aaa\u660e\u4e86SEC\u898f\u5b9a\u5728\u8ca1\u5831\u4e2d\u5fc5\u9700\u63ed\u9732\u7684\u91cd\u8981\u98a8\u96aa\u3002<\/p>\n","protected":false},"author":1,"featured_media":35595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[98,97,309,885],"tags":[],"class_list":["post-35594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buffett","category-sec","category-financial-sheets","category-risks"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/35594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/comments?post=35594"}],"version-history":[{"count":2,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/35594\/revisions"}],"predecessor-version":[{"id":68068,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/35594\/revisions\/68068"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media\/35595"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media?parent=35594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/categories?post=35594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/tags?post=35594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}