銆�銆�鍑濊啝閬庢烤鑹茶瓬娉�-GFC锛堥噰鐢ㄦ按婧舵恫鎴栫珐娌栨恫浣滅偤娴佸嫊(d貌ng)鐩革級鍜屽嚌鑶犳徊閫忚壊璀滄硶-GPC锛堥噰鐢ㄦ湁姗�(j墨)婧跺姂浣滅偤娴佸嫊(d貌ng)鐩革級

銆�銆�閬╃敤浜庡皪鏈�鐭ユǎ鍝佺殑鎺㈢储鍒嗛��锛屽畠鑳藉緢蹇�鎻愪緵妯ｅ搧鎸夊垎瀛愬ぇ灏忕祫鎴愮殑鍏ㄩ潰鎯呮��锛屽苟杩呴�熷垽鏂锋ǎ鍝佹槸绨″柈鐨勯倓鏄�寰�(f霉)闆滅殑娣峰悎鍚堢墿锛屽苟鎻愪緵妯ｅ搧涓�鍚勭祫鍒嗙殑杩戜技鍒嗗瓙閲�銆傞�欑ó鍒嗛洟鏂规硶涓嶅疁鐢ㄤ簬鍒嗗瓙澶у皬绲勬垚鐩镐技鎴栧垎瀛愬ぇ灏忓儏宸�10%鐨勭祫鍒嗗垎鏋�锛屽�傚悓鍒嗙暟妲�(g貌u)楂旂殑鍒嗛洟涓嶅疁鐢ㄥ垎瀛愭帓闃昏壊璀滄硶銆�

銆�銆�1銆佷富瑕佸彇姹轰簬鍑濊啝鐨勫瓟寰戝ぇ灏忚垏琚�鍒嗛洟绲勫垎鍒嗗瓙灏哄�镐箣闁撶殑闂�(gu膩n)绯�锛岃垏娴佸嫊(d貌ng)鐩哥殑鎬ц唱(zh矛)娌掓湁鐩存帴鐨勯棞(gu膩n)绯�銆�
銆�銆�2銆佹ǎ鍝佸垎瀛愯垏鍥哄畾鐩镐箣闁撲笉瀛樺湪鐩镐簰浣滅敤锛岃壊璀滃浐瀹氱浉鏄�澶氬瓟鎬у嚌鑶�锛屽儏鍏佽ū鐩村緫灏忎簬瀛斿緫鐨勭祫鍒嗛��(j矛n)鍏�锛岄�欎簺瀛斿皪浜庢憾鍔戝垎瀛愪締瑾�鏄�鐩哥暥(d膩ng)澶х殑锛屼互鑷存憾鍔戝垎瀛愬彲浠ヨ嚜鐢辩殑鎿�(ku貌)鏁ｅ嚭鍏ャ�傛ǎ鍝佷腑鐨勫ぇ鍒嗗瓙涓嶈兘閫�(j矛n)鍏ュ嚌鑶犲瓟娲炶�屽畬鍏ㄨ��鎺掗樆锛屽彧鑳芥部澶氬瓟鍑濊啝绮掑瓙涔嬮枔鐨勭┖闅欓�氶亷鑹茶瓬鏌憋紝棣栧厛寰炴煴涓�琚�娴佸嫊(d貌ng)鐩告礂鑴�鍑轰��锛涗腑绛夊ぇ灏忕殑鍒嗗瓙鑳介��(j矛n)鍏ュ嚌鑶犱腑涓�浜涢仼鐣�(d膩ng)?sh霉)鐩�閿ョ��?锛屼絾涓嶈兘閫�(j矛n)鍏ユ洿灏忕殑寰�瀛�锛屽湪鏌变腑鍙楀埌婊�鐣�锛岃純鎱㈠湴寰炶壊璀滄煴娲楄劔鍑轰締锛涘皬鍒嗗瓙鍙�閫�(j矛n)鍏ュ嚌鑶犱腑绲曞ぇ閮ㄥ垎瀛旀礊锛屽湪鏌变腑鍙楀埌鏇村挤(qi谩ng)鐨勬化鐣�锛屾渻(hu矛)鏇存參鐨勮��娲楄劔鍑�锛涙憾瑙ｆǎ鍝佺殑婧跺姂鍒嗗瓙锛屽叾鍒嗗瓙閲忔渶灏�锛屽彲閫�(j矛n)鍏ュ嚌鑶犵殑鎵�鏈夊瓟娲�锛屽緸鏌变腑娴佸嚭锛屽緸鑰屽��(sh铆)鐝�(xi脿n)鍏锋湁涓嶅悓鍒嗗瓙澶у皬妯ｅ搧鐨勫畬鍏ㄥ垎闆�銆傚湪鍒嗗瓙鎺掗樆鑹茶瓬娉曚腑锛屾憾鍔戝垎瀛愬緸鏌变腑娴佸嚭锛岄�欎竴榛�(di菐n)鏄庨’涓嶅悓浜庡叾浠栨恫鐩歌壊璀滄硶銆�
銆�銆�3銆佸湪SEC涓�锛屼笉鍚屽昂瀵告ǎ鍝佸垎瀛愮殑鍒嗗竷绯绘��(sh霉)K绺戒繚鎸佸湪0~1涔嬮枔銆侹=0瑾�鏄庢憾璩�(zh矛)瀹屽叏琚�鎺掗櫎鍦ㄥ～鏂欏瓟澶栵紝绋辩偤鍏ㄦ帓鏂�锛屽嵆濉�鏂欑殑鎺掓枼妤甸��锛汯=1瑾�鏄庢憾璩�(zh矛)鍙�瀹屽叏閫�(j矛n)鍏ュ～鏂欏瓟鍏�(n猫i)銆傜ū鐐哄叏婊查��锛屽嵆濉�鏂欑殑婊查�忔サ闄愩��
銆�銆�4銆佸皪鑸囨煇涓�澶у皬鍒嗗瓙鍏舵礂鑴�涓�楂旂�嶇瓑浜庢祦鍕�(d貌ng)鐩搁珨绌嶈垏瑭插昂瀵告憾璩�(zh矛)鍙�浠ユ徊閫忛��(j矛n)鍏ョ┖娲炲収(n猫i)閮ㄧ殑閭ｉ儴鍒嗛珨绌嶇殑绺藉拰銆俈e=Vo+KVp
銆�銆�鍥哄畾鐩革細鍑濊啝鎸夋��(j墨)姊板挤(qi谩ng)搴﹀垎杌熻唱(zh矛)鍑濊啝锛堣憽鑱氱硸鍑濊啝銆佺搳鑴傜硸鍑濊啝銆佽仛涓欑儻閰拌兒鍑濊啝锛�锛涘崐鍓涙�у嚌鑶狅紙鑻�涔欑��-浜屼箼鐑�鍩鸿嫰鍏辫仛鐗╋��锛涘墰鎬у嚌鑶狅紙楂樹氦鑱�(li谩n)搴﹁嫰涔欑儻-浜屼箼鐑�鍩鸿嫰鍏辫仛鐗�銆佸�氬瓟鐞冨舰纭呰��銆佺茎鍩哄寲鑱氶啔澶氬瓟寰�鐞冿��銆傛寜鍖栧��(xu茅)鎬ц唱(zh矛)鍒嗘湁姗�(j墨)鍑濊啝锛堝潎鍕诲嚌鑶犮�佸崐鍧囧嫽鍑濊啝銆侀潪鍧囧嫽鍑濊啝锛�锛涚劇姗�(j墨)鍑濊啝锛堥潪鍧囧嫽鍑濊啝锛�銆�
銆�銆�娴佸嫊(d貌ng)鐩�
銆�銆�鍑濊啝婊查�忚壊璀滄硶锛氬父鐢ㄥ洓姘�鍛嬪杻涓夋隘涔欑��
銆�銆�鍑濊啝閬庢烤鑹茶瓬娉曪細浠ユ按鐐轰富楂�锛屽叿鏈変笉鍚孭H鍊煎緱澶氱ó绶╂矕婧舵恫锛屾墍鏈夋憾鍔戜娇鐢ㄥ墠鍧囪�佷互寰�瀛旀烤鑶滄垨5铏熺爞鑺�婕忔枟閬庢��銆傞櫎姝や箣澶�锛岄倓闇�鏍规摎(j霉)鎵�鍒嗛洟鐨勫寲鍚堢墿鎬ц唱(zh矛)鍚戞祦鍕�(d貌ng)鐩镐腑鍔犲叆涓�浜涙坊鍔犲姂浠ユ敼鍠勪繚鐣欏拰鍒嗛洟鏁堟灉銆傚�傜��(d膩ng)浣跨敤瑕�姘存�ф湁姗�(j墨)鍑濊啝浣滅偤鍥哄畾鐩告檪(sh铆)锛岀偤娑堥櫎楂旂�嶆帓闃昏壊璀滄硶涓�涓嶅笇鏈涘瓨鍦ㄧ殑鍚搁檮浣滅敤鑸囧熀楂旂殑鐤忔按浣滅敤锛岄�氬父鍦ㄦ祦鍕�(d貌ng)鐩镐腑鍔犲叆灏戦噺鐨勭劇姗�(j墨)楣�锛屼互缍�鎸佹祦鍕�(d貌ng)鐩哥殑闆㈠瓙寮�(qi谩ng)搴﹀湪0.1鈥�0.5锛屾笡灏戝壇浣滅敤銆�