00191759-01 - 第196页

 W , , W ± .RUHNFH S LGY RX ]QDþNiFK ; SRORKD < SRORK D 1DWRþHQt GHVN\ ± .RUHNFH S LW HFK]QD þNiFK,GHiOQ MVRX]Q DþN\XVSR iGiQ\ WDNå HS tPN\ SURFKi]HMtFt YåG\ GY PD] QDþNDPLMVRXU RYQRE å Qp…

100%1 / 412

W ,,W
±7ORXãNDG
=HMPpQDX]QDþHN]FtQXMHW
HEDGEiWQDWRDE\YêãNDNOHQE\]QDþN\]FtQXQHS HNURþLOD
ãt
N\VWUXNWXU\3RNXGMHWDWRPtUDS HNURþHQDQHPXVtEêWSRGOHRNROQRVWt]QDþNDVWHMQRP UQ
RVY
WOHQD1iVOHGNHPMVRXUR]GtOQpRGUD]RYpYODVWQRVWLDUXãtFtRGUD]\5R]SR]QiQt]QDþN\
SDNMLåQHQt]DUXþHQR
'RSRUXþHQp5R]P
U\]QDþHN
=KRGQRFHQtWYDU ]QDþHN
8SRFtQRYDQêFKVWUXNWXUDY\VRNpVWDELOLW UR]P U PDOpRGFK\ON\S LOHSWiQtPRKRXEêWY\XåLW\
SOQêNUXKQHERSOQêþWYHUHFMDNRYHOPLS
t]QLYpWYDU\SRP UWORXã N\]QDþN\NWORXã FH
S
HGOHWRYiQtYHONê.OHViOLVWDELOLWDUR]P U MHW HEDXS HGQRVWQLWNUXKS HGþWYHUFHP
3UR]QDþN\MHGQRGXFKêDGYRMLWêN
tåMHYêKRGQiþLVWiP SRNXGMHãW QHSRNURþLODR[\GDFH
± 3RYUFK]QDþHN
'EHMWHQDWRDE\SRYUFK]QDþN\E\OSRNXGPRåQRURYQêDPiORR[\GRYDQê9\KQ
WHVH
Y\XåtYiQt]QDþHNVODNHP]DVWDYXMtFtPOHWRYiQt/|WVWRSSODFNSURWRåHVHVQLåXMHNRQWUDVW
RSURWLRNROtQHERVHPRKRXY\VN\WRYDWUXãtFtIUHNYHQFH3RGREQpHIHNW\Y]QLNDMtLX
FtQRYDQêFK]QDþHN
± .RQWUDVW]QDþHN
3URGREUpUR]SR]QiYiQt]QDþHNY\EHUWHVLOQêVY
WHOQêNRQWUDVWPH]L]QDþNRXDPDWHULiOHP
W]QVY
WOp]QDþN\QDWPDYpPPDWHULiOXDQDRSDN1DQiãHMWHQDS QDP G QêQHERFtQRYê
SRGNODGWPDYp]QDþN\8NHUDPLFNêFKVXEVWUiW
VHVY WOêPSRYUFKHPDQHS t]QLYêPL
RGUD]RYêPLYODVWQRVWPLSRPiKiþDVWRSRGORåLWWPDYêPDWHULiORGSRU
DE\VH]OHSãLONRQWUDVW
± 3RþHW]QDþHN
3
LSRXåLWtNHUDPLFNêFKVXEVWUiW DPDOêFKGHVNiFKGRVWDþXMt]SUDYLGODGY ]QDþN\8Y WãtFK
GHVHNVHRYãHPGRSRUXþXMHGHILQRYDWW
L]QDþN\-HGQRWOLYp]QDþN\PRKRXPtWU ]QRX
VWUXNWXUX0HWRGDUR]SR]QiYiQtMHYãDNMHGQRGXããtSRNXGPiNDåGi]QDþNDVWHMQRXVWUXNWXUX
7\S]QDþN\
-HGQRGXFKêN tå 'YRMLWêN tå
5R]VDK ,GHiOQtUR]VDK 5R]VDK ,GHiOQtUR]VDK
'pONDO PPPLQ PP PP PP
ât NDE PPPLQ PP PP PP
7ORXã
NDþiU\V PP PP PP PP
9]GiOþDUD ² ² PPPLQ PP
7ORXã NDG ãt N\VWUXNWXU\ ãt N\VWUXNWXU\

W ,,W
± .RUHNFHS LGYRX]QDþNiFK ;SRORKD
<SRORKD
1DWRþHQtGHVN\
± .RUHNFHS
LW HFK]QDþNiFK,GHiOQ MVRX]QDþN\XVSR iGiQ\WDNåHS tPN\SURFKi]HMtFt
YåG\GY
PD]QDþNDPLMVRXURYQRE åQpVRVDPL;D< ;SRORKD
<SRORKD
1DWRþHQtGHVN\
=NRVHQt
'HIRUPDFHGHVN\YHVP
UX;
'HIRUPDFHGHVN\YHVP
UX<
32=1È0.$
]QDþN\QHVPtWHYåiGQpPS tSDG XPtVWLWGRMHGQpS tPN\
± 9]GiOHQRVWPH]L]QDþNDPLQDY]iMHP
=QDþN\VHPRKRXQDGHVFHOLERYROQ
XPtVWLW$E\P ORUR]PtVW QtVP\VOMHW HEDDE\]QDþN\
E\O\YRERXRViFKFRQHMGiOHRGVHEHýtPGiOHMVRX]QDþN\RGVHEHWtPS
HVQ MãtMHRSWLFNp
XUþHQtSRORK\D~KOXQDWRþHQt

W ,,W
 5R]SR]QiYDFtV\VWpPVRXþiVWHN
5R]SR]QiYDFtV\VWpPVRXþiVWHN]MLã XMHS HVQRXSRORKXVRXþiVWHNMHGQDNWtPåH]MLã XMH
Y\RVHQtVW
HGXVRXþiVWN\UHODWLYQ NRVHVRXP UQRVWLSLSHW\MHGQDNWtPåH]MLã XMHUHODWLYQt
QDWRþHQtVRXþiVWN\N~KOXSRORK\SLSHW\$QDOê]DVWDYXQRåLþHNYRViFK;D<MHURYQ
åPRåQi
 5R]SR]QiYDFtV\VWpPVRXþiVWHNRVD]RYDFtKRDXRPDWX
 3RSLVV\VWpPX
6\VWpPUR]SR]QiQtVRXþiVWHNVHVNOiGi]RSWLFNpKRV\VWpPXSURSR]QiQtSRORK\VRXþiVWN\D
Y\KRGQRFRYDFtMHGQRWN\UR]SR]QiYiQt
.DåGiWLSRORKRYiUHYROYHURYiKODYDPiYODVWQtV\VWpPUR]H]QiQtSRORK\VRXþiVWN\YSROR]H
YL]REU
VWUDQD.DåGêDXWRPDWGLVSRQXMHMHGQRXY\KRGQRFRYDFtMHGQRWNRXSURGHVN\
DSURVRXþiVWN\Y
tGtFtPV\VWpPXYL]REUVWUDQD
&&'NDPHUDVRWRþQêP]UFDGOHP]REUD]RYDFtRSWLNRXDRVY
WORYDFtPV\VWpPHP/('WYR t
RSWLFNêV\VWpPUR]SR]QiYiQtSRORK\VRXþiVWN\9\XåLWUOQp]RUQpSROH&&'NDPHU\621<
NDPHUD;&MH [ PPÞ.UR]H]QiQtSRORK\UHVSNWHVWXQRåLþHNMHVRXþiVWNDRVY
WOHQD
EOLNQXWtP
DG\/('GLRGDRVW H]REUD]HQDRSWLNRXQD&&'þLSX6PHWRGDPLGLJLWiOQtKR
]SUDFRYiQtREUD]X+$/(SURFHV+
LJK$FFXUDF\/HDG([WUDFWLRQMVRX]MLãW Q\SDUDPHWU\SRORK\
~KOXQDWRþHQtDVWDYXQRåLþHN
9\KRGQRFRYDFtMHGQRWND096MLåE\ODSRSViQDYRGVWDYFL
VWUDQD]GHS HEtUiRE
IXQNFHY\KRGQRFHQtGHVHNDVRXþiVWHN
 7HFKQLFNiGDWD
.DPHUDW\S 621<;&
3RþHWSL[HO
[
=RUQpSROH  PP[ PP
2VY
WORYDFtPHWRGD =iEOHVNýHUYHQpKRVY WOD/('URYLQ\
=SUDFRYiQtREUD]X +$/(KRGQRW\ãHGp+
LJK$FFXUDF\/HDG([WUDFWLRQ
2EUD]RYND 5*%PRQLWRU9*$PyG[3L[HO
9HOLNRVWLVRXþiVWHN  PP[ PP PP [ PP
6SHNWUXPUR]H]QDWHOQêFKVRXþiVWHN 7623/&&3/&&4)3626HULHDå62
]iVDGQ
YãHFKQ\VRXþiVWN\V-D
*XOOZLQJQRåLþNDPL
%*$V