{"id":35694,"date":"2023-05-19T23:56:00","date_gmt":"2023-05-19T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=35694"},"modified":"2024-07-12T10:48:52","modified_gmt":"2024-07-12T02:48:52","slug":"%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/","title":{"rendered":"\u65e5\u672c\u80a1\u5e02\u76ee\u524d\u7684\u5438\u5f15\u529b\u5728\u4f55\u8655?"},"content":{"rendered":"\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\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E6%97%A5%E8%82%A1%E7%9A%84%E8%A6%8F%E6%A8%A1%E5%92%8C%E8%A1%A8%E7%8F%BE\" >\u65e5\u80a1\u7684\u898f\u6a21\u548c\u8868\u73fe<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E6%97%A5%E8%82%A1%E7%9A%84%E8%A6%8F%E6%A8%A1%E8%B7%8C%E8%87%B3%E5%85%A8%E7%90%83%E7%AC%AC%E4%BA%94\" >\u65e5\u80a1\u7684\u898f\u6a21\u8dcc\u81f3\u5168\u7403\u7b2c\u4e94<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E5%8F%8D%E6%98%A0%E6%97%A5%E6%9C%AC%E7%9A%84%E5%9C%8B%E5%8A%9B%E4%B8%8B%E9%99%8D\" >\u53cd\u6620\u65e5\u672c\u7684\u570b\u529b\u4e0b\u964d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E6%97%A5%E6%9C%AC%E8%82%A1%E6%B0%91%E5%81%8F%E6%84%9B%E7%BE%8E%E8%82%A1\" >\u65e5\u672c\u80a1\u6c11\u504f\u611b\u7f8e\u80a1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E6%95%A3%E6%88%B6%E6%8A%95%E8%B3%87%E6%97%A5%E8%82%A1%E7%9A%84%E6%84%8F%E9%A1%98%E4%B8%8D%E9%AB%98\" >\u6563\u6236\u6295\u8cc7\u65e5\u80a1\u7684\u610f\u9858\u4e0d\u9ad8<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E5%9B%A0%E5%B7%B4%E8%8F%B2%E7%89%B9%E6%BC%B2%E8%87%B330%E5%B9%B4%E6%96%B0%E9%AB%98\" >\u56e0\u5df4\u83f2\u7279\u6f32\u81f330\u5e74\u65b0\u9ad8<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E5%B7%B4%E8%8F%B2%E7%89%B9%E7%9A%84%E8%83%8C%E6%9B%B8\" >\u5df4\u83f2\u7279\u7684\u80cc\u66f8<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E5%B7%B4%E8%8F%B2%E7%89%B9%E6%8A%95%E8%B3%87%E7%9A%84%E4%BA%94%E5%A4%A7%E5%95%86%E7%A4%BE\" >\u5df4\u83f2\u7279\u6295\u8cc7\u7684\u4e94\u5927\u5546\u793e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E5%B7%B4%E8%8F%B2%E7%89%B9%E7%82%BA%E4%BD%95%E5%B0%8D%E6%97%A5%E6%9C%AC%E4%BA%94%E5%A4%A7%E5%95%86%E7%A4%BE%E9%9D%92%E7%9D%9E%E6%9C%89%E5%8A%A0%EF%BC%9F\" >\u5df4\u83f2\u7279\u70ba\u4f55\u5c0d\u65e5\u672c\u4e94\u5927\u5546\u793e\u9752\u775e\u6709\u52a0\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E6%97%A5%E8%82%A1%E7%9A%84%E3%80%8C%E4%B8%89%E5%A5%BD%E4%B8%80%E5%A3%9E%E3%80%8D\" >\u65e5\u80a1\u7684\u300c\u4e09\u597d\u4e00\u58de\u300d<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E6%97%A5%E8%82%A1%E7%9A%84%E5%84%AA%E5%8B%A2\" >\u65e5\u80a1\u7684\u512a\u52e2<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E6%B3%A2%E5%8B%95%E6%80%A7%E4%BD%8E%E5%BE%88%E5%A4%9A\" >\u6ce2\u52d5\u6027\u4f4e\u5f88\u591a<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E5%AF%AC%E9%AC%86%E8%B2%A8%E5%B9%A3%E6%94%BF%E7%AD%96\" >\u5bec\u9b06\u8ca8\u5e63\u653f\u7b56<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E8%82%A1%E5%88%A9\" >\u80a1\u5229<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E5%9B%9E%E8%B3%BC\" >\u56de\u8cfc<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E6%B7%A8%E7%8F%BE%E9%87%91\" >\u6de8\u73fe\u91d1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E8%82%A1%E5%83%B9%E6%B7%A8%E5%80%BC%E6%AF%94\" >\u80a1\u50f9\u6de8\u503c\u6bd4<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E7%BE%8E%E5%82%B5%E9%99%90%E7%96%91%E6%85%AE\" >\u7f8e\u50b5\u9650\u7591\u616e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E5%9F%BA%E9%87%91%E6%8C%81%E8%82%A1%E6%AF%94%E7%8E%87%E4%BD%8E\" >\u57fa\u91d1\u6301\u80a1\u6bd4\u7387\u4f4e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E4%BB%8A%E5%B9%B4%E8%A1%A8%E7%8F%BE%E5%84%AA%E7%95%B0\" >\u4eca\u5e74\u8868\u73fe\u512a\u7570<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%E5%B7%B4%E8%8F%B2%E7%89%B9%E7%9A%84%E5%85%89%E7%92%B0\" >\u5df4\u83f2\u7279\u7684\u5149\u74b0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/05\/19\/%e6%97%a5%e6%9c%ac%e8%82%a1%e5%b8%82%e7%9a%84%e5%90%b8%e5%bc%95%e5%8a%9b%e5%9c%a8%e4%bd%95%e8%99%95\/#%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=\"%E6%97%A5%E8%82%A1%E7%9A%84%E8%A6%8F%E6%A8%A1%E5%92%8C%E8%A1%A8%E7%8F%BE\"><\/span>\u65e5\u80a1\u7684\u898f\u6a21\u548c\u8868\u73fe<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%97%A5%E8%82%A1%E7%9A%84%E8%A6%8F%E6%A8%A1%E8%B7%8C%E8%87%B3%E5%85%A8%E7%90%83%E7%AC%AC%E4%BA%94\"><\/span>\u65e5\u80a1\u7684\u898f\u6a21\u8dcc\u81f3\u5168\u7403\u7b2c\u4e94<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6839\u64daStatista\u7684\u7d71\u8a08\uff0c\u6309\u4e0a\u5e02\u4f01\u696d\u7684\u7e3d\u5e02\u503c\u8a08\uff0c2023\u5e74\u7684\u5168\u7403\u80a1\u7968\u4ea4\u6613\u5e02\u5834\u6392\u884c\u699c\uff0c\u65e5\u80a1\u7684\u898f\u6a21\u8dcc\u81f3\u5168\u7403\u7b2c\u4e94\uff0c\u8f38\u7d66\u7d10\u7d04\u4ea4\u6613\u6240\uff0c\u90a3\u65af\u9054\u514b\u4ea4\u6613\u6240\uff0c\u4e0a\u6d77\u4ea4\u6613\u6240\uff0c\u6cdb\u6b50\u4ea4\u6613\u6240\uff1b\u53ea\u6bd4\u7b2c\u516d\u5927\u7684\u6df1\u6c4c\u4ea4\u6613\u6240\uff0c\u4ee5\u53ca\u7b2c\u4e03\u5927\u9999\u6e2f\u4ea4\u6613\u6240\u5927\u4e00\u9ede\u800c\u5df2\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%8F%8D%E6%98%A0%E6%97%A5%E6%9C%AC%E7%9A%84%E5%9C%8B%E5%8A%9B%E4%B8%8B%E9%99%8D\"><\/span>\u53cd\u6620\u65e5\u672c\u7684\u570b\u529b\u4e0b\u964d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1988\u5e74\u5e74\u5e95\u4e16\u754c\u7e3d\u5e02\u503c\u524d50\u7684\u4f01\u696d\u4e2d\uff0c\u670932\u5bb6\u662f\u65e5\u672c\u4f01\u696d\uff0c\u4f462009\u5e74\u4ee5\u5f8c\u53ea\u5269\u8c50\u7530\u6c54\u8eca\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aTM\uff09\u4e00\u5bb6\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%97%A5%E6%9C%AC%E8%82%A1%E6%B0%91%E5%81%8F%E6%84%9B%E7%BE%8E%E8%82%A1\"><\/span>\u65e5\u672c\u80a1\u6c11\u504f\u611b\u7f8e\u80a1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u65e5\u672c\u7684\u500b\u4eba\u8cc7\u91d1\u6b63\u5728\u4e0d\u65b7\u6e67\u5411\u6d77\u5916\u80a1\u7968\u30022021\u5e74\uff0c\u7d93\u7531\u65e5\u672c\u570b\u5167\u7684\u6295\u8cc7\u4fe1\u8a17\u57fa\u91d1\u6d41\u5411\u6d77\u5916\u80a1\u7968\u7684\u6295\u8cc7\u984d\u589e\u52a0\u5230\u4e868.3\u842c\u5104\u65e5\u5143\u3002\u9019\u662f\u6d41\u5411\u65e5\u672c\u80a1\u7968\u6295\u8cc7\u984d\uff08280\u5104\u65e5\u5143\uff09\u7684\u8fd1300\u500d\u3002\u539f\u56e0\u662f\u6295\u8cc7\u8005\u66f4\u504f\u611b\u8cc7\u672c\u6548\u7387\u7b49\u51fa\u8272\u7684\u6d77\u5916\u4f01\u696d\u3002<\/p>\n\n\n\n<p>\u65e5\u672c\u500b\u4eba\u8cc7\u91d1\u6d41\u5411\u570b\u5916\u7684\u76f4\u63a5\u539f\u56e0\u61c9\u8a72\u662f\u4f01\u696d\u7af6\u722d\u529b\u7684\u5dee\u8ddd\u3002\u51c8\u8cc7\u7523\u6536\u76ca\u7387\uff08ROE\uff09\u4ee3\u8868\u5275\u9020\u5229\u6f64\u7684\u6548\u7387\uff0c\u6839\u64daQUICK FactSet\u7684\u6578\u64da\u9032\u884c\u4f30\u7b97\uff0c\u904e\u53bb20\u5e74\u6771\u8b49\u80a1\u50f9\u6307\u6578\uff08TOPIX\uff09\u7684\u80a1\u7968\u5e73\u5747ROE\u57285%\uff5e10%\u3002\u800c\u7f8e\u570b\u6a19\u666e500\u7684ROE\u4fdd\u6301\u572815\uff05\u4ee5\u4e0a\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%95%A3%E6%88%B6%E6%8A%95%E8%B3%87%E6%97%A5%E8%82%A1%E7%9A%84%E6%84%8F%E9%A1%98%E4%B8%8D%E9%AB%98\"><\/span>\u6563\u6236\u6295\u8cc7\u65e5\u80a1\u7684\u610f\u9858\u4e0d\u9ad8<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6771\u4eac\u8b49\u5238\u4ea4\u6613\u6240\u57282022\u5e74\u516c\u4f48\u76842021\u5e74\u5ea6\u80a1\u6771\u5206\u4f48\u8abf\u67e5\u7d50\u679c\u986f\u793a\uff0c\u6309\u91d1\u984d\u8a08\u7b97\uff0c\u500b\u4eba\u7684\u6301\u80a1\u6bd4\u7387\u70ba16.6\uff05\uff0c\u6bd450\u5e74\u524d\u6e1b\u5c11\u4e00\u534a\u3002\u6839\u64da\u806f\u5408\u570b\u7684\u7d71\u8a08\uff0c\u65e5\u672c\u76ee\u524d\u7684\u4eba\u53e3\u6578\u70ba125,373,174&nbsp;\uff0c\u4f462020\u65e5\u672c\u80a1\u5e02\u500b\u4eba\u958b\u6236\u6578\u624d\u53ea\u67095981\u842c\uff1b\u624d47.73%\uff1b\u6211\u5728\u6700\u8fd1\u51fa\u7248\u7684\u300a<a href=\"https:\/\/www.books.com.tw\/products\/0010935641?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">10\u500d\u80a1\u6cd5\u5247<\/a>\u300b\u4e00\u66f8\u76841-4\u5c0f\u7bc0\u768446\u9801\u88e1\u63d0\u904e\uff0c\u53f0\u7063\u7684\u76f8\u540c\u6578\u5b57\u70ba52.22%\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%9B%A0%E5%B7%B4%E8%8F%B2%E7%89%B9%E6%BC%B2%E8%87%B330%E5%B9%B4%E6%96%B0%E9%AB%98\"><\/span>\u56e0\u5df4\u83f2\u7279\u6f32\u81f330\u5e74\u65b0\u9ad8<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u65e5\u7d93225\u6307\u6578\u57282023\u5e745\u670815\u65e5\u6536\u6f32238.04\u9ede\u62160.81\uff05\u3001\u905429,626.34\u9ede\uff0c\u5275\u4e0b2021\u5e7411\u6708\u4ee5\u4f86\u6700\u9ad8\u7d00\u9304\uff1b\u6771\u8b49\u80a1\u50f9\u6307\u6578\u4e5f\u52c1\u534718.46\u9ede\u62160.88\uff05\uff0c\u4ee52,114.85\u9ede\u5831\u6536\uff0c\u66f4\u7de0\u9020\u904e\u53bb30\u5e74\u4f86\u6700\u9ad8\u6c34\u6e96\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%B7%B4%E8%8F%B2%E7%89%B9%E7%9A%84%E8%83%8C%E6%9B%B8\"><\/span>\u5df4\u83f2\u7279\u7684\u80cc\u66f8<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%B7%B4%E8%8F%B2%E7%89%B9%E6%8A%95%E8%B3%87%E7%9A%84%E4%BA%94%E5%A4%A7%E5%95%86%E7%A4%BE\"><\/span>\u5df4\u83f2\u7279\u6295\u8cc7\u7684\u4e94\u5927\u5546\u793e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u904e\u53bb\u516d\u500b\u6708\u4f86\uff0c\u7f8e\u80a1\u6a19\u666e500\u6307\u6578\u4e00\u76f4\u57283,800\u9ede~4,200\u9ede\u5340\u9593\u9707\u76ea\uff0c\u6f32\u4e0d\u4e0a\u53bb\u4e5f\u8dcc\u4e0d\u4e0b\u4f86\uff0c\u52a0\u4e0a\u6b64\u523b\u9084\u770b\u4e0d\u51fa\u570b\u6703\u5982\u4f55\u80fd\u57286\u6708\u521d\u5927\u9650\u65e5\u524d\u9806\u5229\u63d0\u9ad8\u8209\u50b5\u4e0a\u9650\u3001\u53ca\u6642\u62c6\u9664\u7f8e\u570b\u806f\u90a6\u50b5\u52d9\u9055\u7d04\u70b8\u5f48\u7684\u5f15\u4fe1\uff0c\u8b93\u4e00\u4e9b\u5c1a\u672a\u63a1\u7d0d\u300c5\u6708\u8ce3\u80a1\u8d70\u4eba\u300d\u5efa\u8b70\u7684\u7f8e\u80a1\u6295\u8cc7\u4eba\u53ef\u80fd\u4e5f\u840c\u751f\u96e2\u5834\u5ff5\u982d\u3002<\/p>\n\n\n\n<p>\u90a3\u9ebc\uff0c\u8a72\u8f49\u5f80\u4f55\u8655\uff1f\u5df4\u83f2\u72794\u6708\u9060\u8d74\u6771\u4eac\u4e00\u904a\uff0c\u8b93\u65e5\u672c\u91cd\u65b0\u51fa\u73fe\u5728\u8a31\u591a\u4eba\u7684\u6295\u8cc7\u5730\u5716\u4e0a\u3002\u5c08\u5bb6\u5e38\u5efa\u8b70\u6295\u8cc7\u4eba\u5206\u6563\u6295\u8cc7\uff0c\u4f46\u8a31\u591a\u4eba\u537b\u96e3\u4ee5\u4ed8\u8af8\u884c\u52d5\u3002<\/p>\n\n\n\n<p>\u8ca1\u7d93\u7db2\u7ad9MarketWatch\u5831\u5c0e\uff0cSPARX\u8cc7\u7522\u7ba1\u7406\u516c\u53f8\u6295\u8cc7\u7d44\u5408\u7d93\u7406\u4eba\u6b66\u7530\u6b63\u548c\u8aaa\uff0c\u6ce2\u514b\u590f\u516c\u53f8\u8463\u4e8b\u9577\u517c\u57f7\u884c\u9577\u5df4\u83f2\u7279\u5927\u8209\u6295\u8cc7\u65e5\u672c\uff0c\u5df2\u5f15\u8d77\u773e\u4eba\u6ce8\u610f\u9019\u500b\u4e9e\u6d32\u570b\u5bb6\u539f\u672c\u4ee4\u4eba\u5ffd\u7565\u7684\u4e00\u4e9b\u6295\u8cc7\u6a5f\u6703\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%B7%B4%E8%8F%B2%E7%89%B9%E7%82%BA%E4%BD%95%E5%B0%8D%E6%97%A5%E6%9C%AC%E4%BA%94%E5%A4%A7%E5%95%86%E7%A4%BE%E9%9D%92%E7%9D%9E%E6%9C%89%E5%8A%A0%EF%BC%9F\"><\/span>\u5df4\u83f2\u7279\u70ba\u4f55\u5c0d\u65e5\u672c\u4e94\u5927\u5546\u793e\u9752\u775e\u6709\u52a0\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6ce2\u514b\u590f\u8d77\u521d\u57282020\u5e74\u6295\u8cc7\u65e5\u672c\u4e94\u5927\u5546\u793e\uff08\u8cbf\u6613\u516c\u53f8\uff09\uff0c\u5305\u62ec\u4e09\u83f1\u5546\u4e8b\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aMSBHF\uff09\u3001\u4e09\u4e95\u7269\u7522\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aMITSY\uff09\u3001\u4f4f\u53cb\u5546\u4e8b\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aSSUMY\uff09\u3001\u4f0a\u85e4\u5fe0\u5546\u4e8b\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aITOCY\uff09\u4ee5\u53ca\u4e38\u7d05\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aMARUY\uff09\uff0c\u6700\u8fd1\u53c8\u52a0\u78bc\u8cb7\u9032\uff0c\u628a\u5c0d\u9019\u4e94\u5927\u5546\u793e\u7684\u6301\u80a1\u6bd4\u91cd\u63d0\u9ad8\u52307.4%\u3002<\/p>\n\n\n\n<p>\u6b66\u7530\u6b63\u548c\u65e5\u524d\u5728\u90e8\u843d\u683c\u8cbc\u6587\u8aaa\uff1a\u300c\u9019\u4e9b\u516c\u53f8\u5408\u7a31\u300e\u7d9c\u5408\u5546\u793e\u300f\uff0c\u662f\u4e8b\u696d\u591a\u5143\u5316\u7684\u4f01\u696d\u96c6\u5718\uff0c\u696d\u52d9\u6db5\u84cb\u98df\u54c1\u3001\u6d88\u8cbb\u8005\u7522\u54c1\u3001\u518d\u751f\u80fd\u6e90\u3001\u7528\u65bc\u96fb\u52d5\u8eca\u7684\u91d1\u5c6c\u4ee5\u53ca\u91ab\u7642\u7167\u8b77\u9818\u57df\u3002\u300d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.marketwatch.com\/story\/heres-why-investors-should-pay-attention-to-this-warren-buffett-move-ac3d6b9b?siteid=nf-rss#:~:text=The%20legendary%20investor%20told%20CNBC,at%20a%20%E2%80%9Cridiculous%20price.%E2%80%9D\" target=\"_blank\" rel=\"noreferrer noopener\">\u5df4\u83f2\u72794\u6708\u6642\u8a2a\u554f\u65e5\u672c\u6642\u5411CNBC\u8868\u793a<\/a>\uff0c\u4ed6\u4e4b\u6240\u4ee5\u53d7\u9019\u4e94\u5927\u5546\u793e\u5438\u5f15\uff0c\u662f\u56e0\u70ba\u9019\u4e9b\u516c\u53f8\u8207\u6ce2\u514b\u590f\u76f8\u4f3c\uff0c\u800c\u4e14\u80a1\u7968\u4ea4\u6613\u50f9\u683c\u4f4e\u5f97\u300c\u8352\u8b2c\u300d\u3002<\/p>\n\n\n\n<p>\u6b66\u7530\u6b63\u548c\u5247\u8aaa\uff1a\u300c\u5df4\u83f2\u7279\u6311\u9078\u7684\u80a1\u7968\u672c\u76ca\u6bd4\uff08P\/E\uff09\u4f4e\uff0c\u80a1\u50f9\u6de8\u503c\u6bd4\uff08P\/B\uff09\u4e5f\u4f4e\uff0c\u8207\u65e5\u672c\u80a1\u5e02\u5230\u8655\u53ef\u898b\u7684\u4f4e\u4f30\u503c\u76f8\u547c\u61c9\u3002\u300d\u4ed6\u4e26\u6307\u51fa\uff0c\u9019\u4e94\u5927\u5546\u793e\u7684\u80a1\u6771\u6b0a\u76ca\u5831\u916c\u7387\uff08ROE\uff09\u4ecb\u65bc18%\u820725%\u4e4b\u9593\uff0c\u6bd4\u65e5\u672c\u80a1\u5e02\u76848%\u9ad8\u51fa\u751a\u591a\u3002<\/p>\n\n\n\n<p>\u800c\u4e14\uff0c\u81ea2017\u5e74\u4ee5\u4f86\uff0c\u9019\u4e94\u5927\u5546\u793e\u5408\u8a08\u7684\u6bcf\u80a1\u76c8\u9918\u4e00\u76f4\u4ee5\u6bcf\u5e74\u6210\u957720.1%\u7684\u901f\u5ea6\u5728\u64f4\u589e\uff0c\u56e0\u6b64\u5df2\u7522\u751f\u300c\u53ef\u89c0\u7684\u8d85\u984d\u73fe\u91d1\u6d41\u300d\u3002\u6b64\u5916\uff0c\u904e\u53bb\u4e94\u5e74\u4f86\uff0c\u9019\u4e9b\u516c\u53f8\u914d\u767c\u7684\u80a1\u5229\u5e73\u5747\u6210\u957712.9%\uff0c\u4e26\u63d0\u4f9b3%\u81f35%\u7684\u80a1\u7968\u6536\u76ca\u7387\uff0c\u76f8\u7576\u300c\u5438\u5f15\u4eba\u300d\u3002<\/p>\n\n\n\n<p>\u6b66\u7530\u6b63\u548c\u53e6\u63d0\u5230\uff0c\u65e5\u672c\u4f01\u696d\u4e3b\u7ba1\u4e00\u6539\u6614\u65e5\u7684\u505a\u6cd5\uff0c\u8fd1\u5e74\u4f86\u7d93\u5e38\u6027\u5730\u52a0\u767c\u80a1\u5229\u4e26\u64f4\u5927\u8cb7\u56de\u81ea\u5bb6\u80a1\u7968\u3002\u4f8b\u5982\uff0c\u4e09\u4e95\u548c\u4e09\u83f1\u76ee\u524d\u5c31\u5728\u7c4c\u5283\u53f2\u4e0a\u898f\u6a21\u6700\u5927\u7684\u80a1\u7968\u56de\u8cfc\u8a08\u756b\u3002<\/p>\n\n\n\n<p>\u5c31\u76ee\u524d\u80a1\u7968\u4f30\u503c\u800c\u8ad6\uff0c\u5438\u5f15\u529b\u4e5f\u96e3\u4ee5\u6297\u62d2\uff0c\u5373\u4f7f\u5168\u7403\u6027\u7684\u4f01\u696d\u96c6\u5718\u50f9\u503c\u96e3\u4ee5\u8a55\u4f30\u3002\u57fa\u65bc\u6b64\u7406\uff0c\u4ed6\u5011\u7684\u80a1\u7968\u4f30\u503c\u5e38\u88ab\u6253\u6298\u6263\uff0c\u4e94\u5927\u5546\u793e\u7684\u6298\u50f9\u5e45\u5ea6\u5c24\u5176\u300c\u53ef\u89c0\u300d\u3002<\/p>\n\n\n\n<p>\u4e0d\u904e\uff0c\u73fe\u5728\u5fc5\u9808\u95dc\u6ce8\u7684\u4e00\u500b\u554f\u984c\u662f\uff1a\u904e\u53bb30\u5e74\u8868\u73fe\u5927\u81f4\u76f8\u5c0d\u905c\u8272\u7684\u65e5\u672c\u5e02\u5834\uff0c\u73fe\u5728\u662f\u5426\u84c4\u52e2\u5f85\u767c\uff0c\u5feb\u8981\u63da\u7709\u5410\u6c23\uff1f\u4e00\u4e9b\u8cc7\u6df1\u6295\u8cc7\u4eba\u4e00\u807d\u5230\u9019\u500b\u8001\u6389\u7259\u7684\u554f\u984c\uff0c\u53ef\u80fd\u5c31\u958b\u59cb\u7ffb\u767d\u773c\uff0c\u4f46\u6b66\u7530\u6b63\u548c\u63d0\u51fa\u5e7e\u500b\u91cd\u9ede\u503c\u5f97\u53c3\u8003\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%97%A5%E8%82%A1%E7%9A%84%E3%80%8C%E4%B8%89%E5%A5%BD%E4%B8%80%E5%A3%9E%E3%80%8D\"><\/span>\u65e5\u80a1\u7684\u300c\u4e09\u597d\u4e00\u58de\u300d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u8207\u7f8e\u80a1\u76f8\u6bd4\uff0c\u65e5\u80a1\u6b64\u523b\u4f30\u503c\u5341\u5206\u8a98\u4eba\u3002\u4ee5\u672c\u76ca\u6bd4\uff08\u80a1\u50f9\u9664\u4ee5\u6bcf\u80a1\u76c8\u9918\uff09\u4f86\u8aaa\uff0c\u6771\u8b49\u80a1\u50f9\u6307\u6578\uff08TOPIX\uff09\u672c\u76ca\u6bd4\u73fe\u70ba15.72\u500d\uff0c\u6bd4\u6a19\u666e500\u6307\u6578\u768418.56\u500d\u4f4e\u3002<\/p>\n\n\n\n<p>\u6771\u8b49\u80a1\u50f9\u6de8\u503c\u6bd41.29\u500d\uff0c\u4e5f\u6bd4\u6a19\u666e500\u76844\u500d\u4fbf\u5b9c\uff0c\u537b\u63d0\u4f9b2.4%\u7684\u80a1\u5229\u6536\u76ca\u7387\uff0c\u6bd4\u7f8e\u80a1\u9ad844%\u5de6\u53f3\u3002\u6771\u8b49\u6307\u6578\u4eca\u5e74\u4f86\u6f32\u5e45\u8d85\u904e10%\u3002<\/p>\n\n\n\n<p>\u6b66\u7530\u6b63\u548c\u6307\u51fa\uff0c\u4eca\u5e74\u5168\u65e5\u672c\u80a1\u5e02\u7684\u80a1\u7968\u8cb7\u56de\u91d1\u984d\u53ef\u671b\u9054\u5230677\u5104\u7f8e\u5143\uff0c\u5275\u65b0\u9ad8\u7d00\u9304\u3002<\/p>\n\n\n\n<p>\u4f46\u6709\u4e00\u5927\u7f3a\u9ede\uff1a\u6574\u9ad4\u800c\u8a00\uff0c\u65e5\u672c\u80a1\u5e02\u7684\u6bcf\u80a1\u76c8\u9918\u6210\u9577\u4ecd\u5acc\u9072\u7de9\u3002\u6709\u4e9b\u516c\u53f8\u6210\u9577\u5feb\u901f\uff0c\u4f8b\u5982\u5df4\u83f2\u7279\u9752\u775e\u7684\u4e94\u5927\u5546\u793e\uff0c\u5176\u4ed6\u516c\u53f8\u5247\u8e63\u8dda\u800c\u884c\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%97%A5%E8%82%A1%E7%9A%84%E5%84%AA%E5%8B%A2\"><\/span>\u65e5\u80a1\u7684\u512a\u52e2<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%B3%A2%E5%8B%95%E6%80%A7%E4%BD%8E%E5%BE%88%E5%A4%9A\"><\/span>\u6ce2\u52d5\u6027\u4f4e\u5f88\u591a<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u8207\u7f8e\u570b\u79d1\u6280\u80a1\u76f8\u6bd4\uff0c\u65e5\u672c\u80a1\u7968\u7684\u6ce2\u52d5\u6027\u8981\u4f4e\u5f97\u591a\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%AF%AC%E9%AC%86%E8%B2%A8%E5%B9%A3%E6%94%BF%E7%AD%96\"><\/span>\u5bec\u9b06\u8ca8\u5e63\u653f\u7b56<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u96a8\u8457\u7f8e\u806f\u5132\u5927\u5e45\u52a0\u606f\uff0c\u7f8e\u570b\u4f01\u696d\u7684\u501f\u8cb8\u6210\u672c\u5927\u5e45\u4e0a\u5347\u3002\u7f8e\u570b\u806f\u6e96\u6703\uff08Fed\uff09\u904e\u53bb\u4e00\u5e74\u591a\u4f86\u536f\u8db3\u529b\u6c23\u5347\u606f\u7684\u540c\u6642\uff0c\u65e5\u672c\u9280\u884c\uff08\u592e\u884c\uff09\u4ecd\u7dad\u6301\u8d85\u5bec\u9b06\u653f\u7b56\u4e0d\u8b8a\u3002\u65e5\u672c10\u5e74\u671f\u516c\u50b5\u6b96\u5229\u7387\u73fe\u5728\u8dcc\u56de0.5%\u4ee5\u4e0b\u3002\u65e5\u80a1\u6700\u8fd1\u5927\u6f32\uff0c\u90e8\u4efd\u539f\u56e0\u5728\u6b64\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%82%A1%E5%88%A9\"><\/span>\u80a1\u5229<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u662f\u56e0\u70ba\u65e5\u80a1\u7684\u4f01\u696d\u6cbb\u7406\u6a19\u6e96\u7684\u63d0\u9ad8\uff0c\u4ee5\u53ca\u4f01\u696d\u7d1b\u7d1b\u5411\u80a1\u6771\u8fd4\u9084\u73fe\u91d1\uff1b\u65e5\u672c\u4f01\u696d\u6d3e\u767c\u7684\u80a1\u5229\u4e5f\u5927\u5e45\u5730\u589e\u52a0\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%9B%9E%E8%B3%BC\"><\/span>\u56de\u8cfc<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5728\u622a\u81f33\u6708\u7684\u4e00\u5e74\u88e1\uff0c\u65e5\u672c\u4f01\u696d\u7684\u80a1\u7968\u56de\u8cfc\u91d1\u984d\u9054\u5230\u4e86\u5275\u7d00\u9304\u7684714\u5104\u7f8e\u5143\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%B7%A8%E7%8F%BE%E9%87%91\"><\/span>\u6de8\u73fe\u91d1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u8fd150%\u7684\u65e5\u672c\u4f01\u696d\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u6709\u6de8\u73fe\u91d1\uff0c\u800c\u7f8e\u570b\u4f01\u696d\u7684\u9019\u4e00\u6bd4\u4f8b\u53ea\u670920%\u591a\u4e00\u9ede\u3002\u6b64\u5916\uff0c\u6771\u8b49\u6307\u6578\u6210\u4efd\u80a1\u4e2d\u7d0454%\u7684\u516c\u53f8\u80a1\u50f9\u4f4e\u65bc\u8cec\u9762\u50f9\u503c\uff0c\u800c\u6a19\u666e500\u6307\u6578\u6210\u4efd\u80a1\u7684\u9019\u4e00\u6bd4\u4f8b\u50c5\u70ba7%\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%82%A1%E5%83%B9%E6%B7%A8%E5%80%BC%E6%AF%94\"><\/span>\u80a1\u50f9\u6de8\u503c\u6bd4<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u65e5\u672c\u80a1\u5e02\u7684\u80a1\u50f9\u6de8\u503c\u6bd4\uff08Price to Book Ratio\uff0cP\/B\uff09\u50c5\u70ba1.3\u500d\uff0c\u800c\u6b50\u6d32\u548c\u7f8e\u570b\u80a1\u5e02\u7684\u80a1\u50f9\u6de8\u503c\u6bd4\u5206\u5225\u70ba1.8\u500d\u548c4.0\u500d\uff0c\u55ae\u662f\u9019\u4e00\u4f30\u503c\u6307\u6a19\u5c31\u70ba\u65e5\u672c\u80a1\u5e02\u63d0\u4f9b\u4e86\u66f4\u5805\u5be6\u7684\u57fa\u790e\u548c\u66f4\u9ad8\u7684\u4e0a\u9650\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%BE%8E%E5%82%B5%E9%99%90%E7%96%91%E6%85%AE\"><\/span>\u7f8e\u50b5\u9650\u7591\u616e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u7f8e\u570b\u9810\u7b97\u8fd1\u671f\u63a5\u8fd1\u6cd5\u5b9a\u7684\u50b5\u52d9\u4e0a\u9650\u9650\u7591\u616e\uff0c\u4e0d\u89e3\u6c7a\u6703\u5f15\u767c\u7f8e\u50b5\u9055\u7d04\uff0c\u5c0e\u81f4\u8cc7\u672c\u5e02\u5834\u7684\u53ef\u80fd\u5927\u707d\u96e3\uff0c\u9019\u6216\u8a31\u4e5f\u662f\u4fc3\u4f7f\u4e00\u4e9b\u6295\u8cc7\u4eba\u6368\u68c4\u7f8e\u80a1\u3001\u8f49\u9032\u65e5\u80a1\u4ee5\u898f\u907f\u98a8\u96aa\u7684\u539f\u56e0\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%9F%BA%E9%87%91%E6%8C%81%E8%82%A1%E6%AF%94%E7%8E%87%E4%BD%8E\"><\/span>\u57fa\u91d1\u6301\u80a1\u6bd4\u7387\u4f4e<span 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